7173 N Detroit Rd

Hudson Lake, IN 46552

$107,000B-

2 bd · 2.0 ba · 816 sqft · Built 1954 · SingleFamily · Active · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,212/mo
• Mortgage (P&I): −$561
• Tax + insurance: −$178
• HOA: −$0
• Vac / Maint / Mgmt: −$254
• Net cashflow: $218/mo
• Annual: $2,613/yr
• Cap rate: 8.73%
• Cash-on-cash: 8.72%
• DSCR: 1.39
• 1% rule: 1.13%
• Cash to close: $29,960

Investor read

• This is a 2-bed/2.0-bath single-family listed at $107k.
• At list price, monthly cash flow is $218 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $107k).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $740 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 62/100 on livability (#465 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, schools F, amenities F.
• New Prairie United School Corporation (rural): math 46% / reading 54% proficiency, ranked #47 of 301 in IN (top 16%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 77 active listings in the ZIP; 216 units permitted in LaPorte County in 2024 (75 in 5+ unit buildings).
• LaPorte County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Questions for listing agent

• Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
• What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.