833 Fillmore St · Gary, IN 46402

$69,999

2 bd · 1.5 ba · 976 sqft · SingleFamily public records · 83 Days on market

Built 1920 3,746 sqft lot $72/sqft · 11% above area

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +1.4/10.0
• Schools +0.5/10.0

Listing remarks MLS

Discover the potential in this 4-bedroom, 1-bath home nestled on a quiet block in Gary. Featuring high ceilings and real hardwood floors throughout most of the main level, this property offers a solid foundation for your vision. Two bedrooms are conveniently located on the main floor, with additional space in the partially finished basement, which also includes laundry hookups and plumbing in place for a potential half bath. The home is equipped with a furnace that's just one year old, providing peace of mind on a major mechanical. With good bones and a functional layout, this property is ideal for investors or buyers looking to renovate and build equity. Being sold as-is, it presents a great opportunity to customize and add value. Dont miss your chance to transform this property into something special!

Key facts

• 3,746 sq ft lot
• Built 1920
• Listed 83 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $349 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $66k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.3% vs local median 9.1% in Gary — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 73/100 on livability (#105 in IN) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools F, crime F, employment F.
• Gary Community School Corporation (urban): math 3% / reading 11% proficiency, ranked #299 of 301 in IN (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 46 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).
• This rent runs 39% of the median local income ($34k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $484 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Lake County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y ago; this cycle's ask has dropped $20k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $6k; list at $70k implies a 1029% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $65,799 (6.0% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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.
8. 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.
9. 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.

Investment metrics

• 1% rule: 1.57% ✓
• Cap rate: 12.28%
• Cash-on-cash: 21.37%
• DSCR: 1.95
• GRM: 5.3

CMA / ARV

• ARV (median comp): $188,606
• List price: $69,999
• Delta: -62.89%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1177 Harrison St	0.44mi	2/1.0	946 (-3%)	2mo	$8,500	$9	71
434 Pierce St	0.51mi	2/1.5	945 (-3%)	0mo	$34,000	$36	70
668 Harrison St	0.26mi	3/1.5 (+1)	1,008 (+3%)	10mo	$40,000	$40	70
1067 Polk St	0.22mi	3/1.5 (+1)	1,088 (+12%)	7mo	$116,000	$107	60
1161 Fillmore St	0.35mi	2/1.0	905 (-7%)	14mo	$42,000	$46	58
1561 Tyler St	0.65mi	3/1.0 (+1)	1,008 (+3%)	0mo	$12,000	$12	57
1567 Hayes St	0.73mi	2/1.0	934 (-4%)	4mo	$29,000	$31	54
452 Pierce St	0.49mi	2/1.0	867 (-11%)	6mo	$45,000	$52	51
1965 W 10th Pl	0.61mi	3/1.0 (+1)	1,028 (+5%)	10mo	$25,000	$24	48
1665 W 12th Ave	0.54mi	2/1.0	842 (-14%)	3mo	$13,000	$15	47
302 Lincoln St	0.71mi	3/1.0 (+1)	889 (-9%)	2mo	$33,900	$38	43
1349 Harrison St	0.52mi	3/1.0 (+1)	1,068 (+9%)	14mo	$22,900	$21	41

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 13.9%
• Equity multiple: 1.56×
• Total profit: $10,925
• Equity at exit: $10,437

10-year hold

• IRR: 22.8%
• Equity multiple: 2.95×
• Total profit: $38,298
• Equity at exit: $6,052

Cash invested: $19,600 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Indiana: 90 Strongly Landlord-Friendly · R+11
• County: — inherits STATE
• City: — inherits STATE

10-day pay-or-quit; landlord-favorable; preempted.

Methodology + full state rankings →

ZIP-level market 46402

• Home prices YoY: -2.8%
• Active inventory: 46
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,102 high
• Mortgage (P&I): −$367
• Tax from tax record: −$125 /mo · $1,502/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $349

Break-even live

Break-even rent $660

Max offer price $69,999

Occupancy floor 63%

Sensitivity live

Price	-10% $389	-5% $369	+0% $349	+5% $329	+10% $309
Rent	-10% $262	-5% $305	+0% $349	+5% $393	+10% $436
Rate	-1.0pp $384	-0.5pp $367	base $349	+0.5pp $331	+1.0pp $312

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
762 Harrison St Unit SRO Gary, IN	1.0	1.0	1075	$700	$0.65	2d	1	0.19mi
411 Pierce St Gary, IN	3.0	1.0	874	$1,395	$1.60	22d	1	0.52mi
1521 Pierce St Unit 1 Gary, IN	2.0	1.0	800	$850	$1.06	2d	1	0.60mi
501 Madison St Gary, IN	1.0–4.0	1.0	883	$1,144	$1.29	2d	11	0.62mi
317 Garfield St Gary, IN	3.0	1.0	936	$1,495	$1.60	44d	1	0.75mi
358 Arthur St Unit 2 Gary, IN	1.0	1.0	800	$1,080	$1.35	44d	1	0.76mi
358 Arthur St Unit 2 Gary, IN	2.0	1.0	800	$1,250	$1.56	2d	1	0.76mi
840 W 19th Ave Gary, IN	2.0	1.0	1035	$1,150	$1.11	20d	1	0.82mi
2306 W 5th Ave Gary, IN	2.0–3.0	1.0	937	$1,199	$1.28	2d	2	0.88mi
2306 W 5th Ave Apt 3 Gary, IN	3.0	1.0	1025	$1,299	$1.27	2d	1	0.88mi
1316 Delaware St Unit 2 Gary, IN	2.0	1.0	700	$950	$1.36	21d	1	1.06mi
1329 Delaware St Gary, IN	2.0	1.0	1100	$1,100	$1.00	44d	1	1.09mi
1595 Ellsworth St Unit 1 Gary, IN	2.0	1.0	868	$1,100	$1.27	2d	1	1.12mi
1595 Ellsworth St Gary, IN	2.0	1.0	868	$1,100	$1.27	3d	1	1.12mi
329 Marshall St Unit 1 Gary, IN	1.0	1.0	997	$900	$0.90	2d	1	1.17mi
2939 W 10th Ave Gary, IN	2.0	1.0	744	$1,190	$1.60	2d	1	1.22mi
2022 Massachusetts St Gary, IN	2.0	1.0	965	$1,000	$1.04	2d	1	1.26mi
1531 Taney Pl Gary, IN	2.0	1.0	900	$1,045	$1.16	2d	1	1.34mi
2361 Pierce St Unit 2 Gary, IN	3.0	1.0	860	$900	$1.05	2d	1	1.40mi
2378 Jackson St Gary, IN	2.0	1.0	672	$1,050	$1.56	2d	1	1.48mi
2280 Roosevelt Pl Gary, IN	3.0	1.0	864	$1,560	$1.81	2d	1	1.48mi
844 Tennessee St Gary, IN	3.0	1.5	1000	$1,500	$1.50	44d	1	1.48mi
2061 Maryland St Gary, IN	2.0	1.0	975	$950	$0.97	44d	1	1.48mi
2264 Taft St Gary, IN	2.0	1.0	800	$1,275	$1.59	2d	1	1.49mi

Listing history 16 events

1. 2026-06-18
   days on market $69,999 Active 83 DOM
2. 2026-06-17
   statusdays on market $69,999 Active 82 DOM
3. 2026-06-13
   statusdays on market $69,999 Pending 81 DOM
4. 2026-06-09
   days on market $69,999 Active 78 DOM
5. 2026-06-08
   days on market $69,999 Active 77 DOM
6. 2026-06-07
   days on market $69,999 Active 76 DOM
7. 2026-06-04
   days on market $69,999 Active 73 DOM
8. 2026-06-03
   days on market $69,999 Active 72 DOM
9. 2026-06-02
   days on market $69,999 Active 71 DOM
10. 2026-06-01
    days on market $69,999 Active 70 DOM
11. 2026-05-31
    days on market $69,999 Active 69 DOM
12. 2026-05-13
    price $78,000 814-char remark

    Show marketing remark (814 chars)

    Discover the potential in this 4-bedroom, 1-bath home nestled on a quiet block in Gary. Featuring high ceilings and real hardwood floors throughout most of the main level, this property offers a solid foundation for your vision. Two bedrooms are conveniently located on the main floor, with additional space in the partially finished basement, which also includes laundry hookups and plumbing in place for a potential half bath. The home is equipped with a furnace that's just one year old, providing peace of mind on a major mechanical. With good bones and a functional layout, this property is ideal for investors or buyers looking to renovate and build equity. Being sold as-is, it presents a great opportunity to customize and add value. Dont miss your chance to transform this property into something special!

13. 2026-04-13
    price $84,999 814-char remark

    Show marketing remark (814 chars)

    Discover the potential in this 4-bedroom, 1-bath home nestled on a quiet block in Gary. Featuring high ceilings and real hardwood floors throughout most of the main level, this property offers a solid foundation for your vision. Two bedrooms are conveniently located on the main floor, with additional space in the partially finished basement, which also includes laundry hookups and plumbing in place for a potential half bath. The home is equipped with a furnace that's just one year old, providing peace of mind on a major mechanical. With good bones and a functional layout, this property is ideal for investors or buyers looking to renovate and build equity. Being sold as-is, it presents a great opportunity to customize and add value. Dont miss your chance to transform this property into something special!

14. 2026-03-23
    listed $89,999 Active 814-char remark

    Show marketing remark (814 chars)

    Discover the potential in this 4-bedroom, 1-bath home nestled on a quiet block in Gary. Featuring high ceilings and real hardwood floors throughout most of the main level, this property offers a solid foundation for your vision. Two bedrooms are conveniently located on the main floor, with additional space in the partially finished basement, which also includes laundry hookups and plumbing in place for a potential half bath. The home is equipped with a furnace that's just one year old, providing peace of mind on a major mechanical. With good bones and a functional layout, this property is ideal for investors or buyers looking to renovate and build equity. Being sold as-is, it presents a great opportunity to customize and add value. Dont miss your chance to transform this property into something special!

15. 2016-05-13
    soldstatus $6,200 112-char remark

    Show marketing remark (112 chars)

    Brick ranch style home with a full sized basement with a fenced yard and enclosed porch. Basement is unfinished.

16. 2016-03-14
    listed $6,200 112-char remark

    Show marketing remark (112 chars)

    Brick ranch style home with a full sized basement with a fenced yard and enclosed porch. Basement is unfinished.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast IN · Partial reset (capped growth)

• Current annual tax: $1,502 · $125/mo
• Projected year-2 tax: $1,502 · $125/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,222
• − Mortgage interest: −$3,921
• − Property taxes: −$1,502
• − Insurance: −$350
• − Repairs & maintenance: −$1,058
• − Management: −$1,058
• − Depreciation: −$2,036
• Taxable income: $3,297
• Est. tax owed @ 24.0%: −$791
• After-tax cash flow: $3,397/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Gary Community School Corporation
• NCES district ID: 1803870
• Math proficiency: 3% ▼ -10.00%
• Reading proficiency: 11% ▼ -6.00%
• Median HH income: $27,739
• Composite: 4.98/100
• National rank: #10039
• State rank: #299 of 301 in IN

Livability — Gary

• Score: 73/100
• State rank: #105
• US rank: #5592

Category grades

Amenities C+ Commute A+ Cost of living A+ Crime F Employment F Housing A+ Health & safety B- User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gary, IN
• County: Lake County · 422,878 people
• City population: 63,701
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 5,836
• Household income: $33,529
• Rent vs Own: 56.6% rent · 43.4% own
• Severe rent burden: 336.0

Population outlook (Lake County) Hauer SSP2

• Today (2025): 484,026 people
• By 2030: 478,091 · -1.2%
• By 2040: 462,974 · -4.3%
• By 2050: 449,894 · -7.1%
• By 2075: 436,169 · -9.9%
• By 2100: 426,607 · -11.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (87%)
• Race & ethnicity: Black 87% Two or more races 5% White 5% Hispanic / Latino 4%
• Common ancestry: Romanian 1% Ukrainian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1% Arabic 1%

Political lean MEDSL · Lake

• 2024 margin: Lean D (+5.6) · D 52.1% · R 46.5% · Other 1.5%
• 2008→2024 swing: -28.6pp toward R · 2008: 34.3pp · 2024: 5.6pp
• All cycles: 2024: D+5.6 2020: D+15.1 2016: D+20.6 2012: D+31.0 2008: D+34.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -7.21%
• Current HPI: 250.2464
• Rent YoY: —
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• State GDP YoY: ▲ 2.90%
• F500 in state: 18

Industry mix (Fortune 500 HQ in IN)

Industry	F500 HQs	Revenue
▸Industrial Machinery	2	$37B
▸Healthcare	1	$177B
▸Pharmaceuticals	1	$45B
▸Metals / Steel	1	$18B
▸Agriculture	1	$17B
▸Packaging	1	$12B

Price history

+1158.1% since first listed

5 events — show timeline

• 2026-05-13 Price Changed $78,000 NIRA MLS as Distributed by MLS Grid
• 2026-04-13 Price Changed $84,999 NIRA MLS as Distributed by MLS Grid
• 2026-03-23 Listed $89,999 NIRA MLS as Distributed by MLS Grid
• 2016-05-13 Sold (MLS) $6,200 NIRA MLS as Distributed by MLS Grid
• 2016-03-14 Listed $6,200 NIRA MLS as Distributed by MLS Grid

Property tax history

+2.8%/yr

Latest (2024): $1,502 · +1.5% YoY. Source: county tax records.