6657 Old Porter Rd · Portage, IN 46368

$80,000

4 bd · 2.0 ba · 1,520 sqft · SingleFamily public records · 1 Days on market

Built 1960 0.25 ac lot

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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
• Rent growth +3.6/5.0
• Livability +3.6/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

* * * NICE AREA * * * Bring your contractors & get this home back in livable condition. Nice size ranch home with nice size bedrooms. .. .Home has 4 bedrooms, 2 bathrooms, kitchen with eat-in area & living room. .Full unfinished basement. .. The driveway is nice & long that lead up to a detached 2 car garage. .. .. Choose FHA financing and qualify for FHA 100 Down Sales Incentive Program. .. .

Key facts

• 0.25 acre lot
• 2 garage spots
• Built 1960

Property features AI

Finance

• Other: Vacant

Exterior

• Parking: Detached garage; Driveway; 2 garage spaces
• Utilities: Electricity connected; Public water; Sewer connected (public sewer and septic tank); Natural gas connected
• Home design: One-story home; Built in 1960; Fixer condition
• Construction: Vinyl siding; Asphalt shingle roof; Has basement
• Exterior features: Back yard with fencing; Fully fenced yard; No pool

Interior

• Kitchen: Eat-in kitchen; No appliances included
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3; Bedroom 4; Basement present
• Bathrooms: 1 full bathroom; 1 three-quarter bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Eat-in kitchen; Unfinished basement with sump pump; 7 total rooms; Neighborhood view
• Laundry & utility: Basement utility area (sump pump)

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $980 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Cap rate 21.0% vs local median 4.0% in Portage — 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 72/100 on livability (#111 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: amenities F, commute F.
• Portage Township Schools (suburban): math 26% / reading 36% proficiency, ranked #221 of 301 in IN (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Crisman Elementary School (math 34% / reading 32%, grade F, #639 of 994 statewide, top 65%, 373 students, 64% FRL); Willowcreek Middle School (math 19% / reading 31%, grade F, #247 of 330 statewide, top 76%, 949 students, 59% FRL); Portage High School (math 25% / reading 55%, grade F, #217 of 369 statewide, top 59%, 2,243 students, 55% FRL) — zoned schools average 60% FRL vs 44% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.3%/yr); 311 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 542 units permitted in Porter County in 2024 (0 in 5+ unit buildings).
• This rent runs 30% of the median local income ($76k/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 $553 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Porter County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 4.3% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $80,000

Questions for the listing agent

1. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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.
5. 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.
6. 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: 2.43% ✓
• Cap rate: 20.99%
• Cash-on-cash: 52.49%
• DSCR: 3.34
• GRM: 3.4

CMA / ARV

• ARV (on-the-fly): $266,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1974 Tonia St	0.17mi	3/1.5 (-1)	1,545 (+2%)	0mo	$244,000	$158	82
6585 Kandi Ave	0.30mi	3/2.0 (-1)	1,420 (-7%)	3mo	$260,000	$183	68
6576 Kandi Ave	0.33mi	3/2.0 (-1)	1,477 (-3%)	10mo	$256,900	$174	66
2130 Jefferson St	0.24mi	3/1.5 (-1)	1,372 (-10%)	4mo	$266,000	$194	63
6395 Valleyview Ave	0.58mi	3/1.5 (-1)	1,532 (+1%)	3mo	$259,900	$170	62
6575 Old Porter Rd	0.19mi	3/1.5 (-1)	1,359 (-11%)	10mo	$250,000	$184	58
2266 Sandwood St	0.53mi	3/2.0 (-1)	1,470 (-3%)	11mo	$267,200	$182	56
6686 Portage Ave	0.47mi	3/2.0 (-1)	1,624 (+7%)	7mo	$285,000	$175	56
6427 Valleyview Ave	0.52mi	3/2.0 (-1)	1,582 (+4%)	10mo	$265,000	$168	55
6490 Old Porter Rd	0.35mi	4/2.0	1,728 (+14%)	8mo	$247,500	$143	54
2190 Capitol St	0.41mi	3/1.5 (-1)	1,682 (+11%)	4mo	$260,000	$155	53
6458 Monument Ave	0.47mi	3/2.0 (-1)	1,324 (-13%)	10mo	$256,000	$193	44

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 · 4.29% rent growth · sell at horizon

5-year hold

• IRR: 51.9%
• Equity multiple: 3.32×
• Total profit: $52,024
• Equity at exit: $11,928

10-year hold

• IRR: 57.8%
• Equity multiple: 7.09×
• Total profit: $136,525
• Equity at exit: $6,917

Cash invested: $22,400 (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 46368

• Rents YoY: 4.3%
• Active inventory: 311
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,940 medium
• Mortgage (P&I): −$420
• Tax est. 1.5%: −$100 /mo · $1,200/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$407
• Net cashflow: $980

Break-even live

Break-even rent $700

Max offer price $80,000

Occupancy floor 44%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6967 Eisenhower Ave Unit 6967 Portage, IN	3.0	2.0	1200	$1,800	$1.50	44d	1	0.70mi
254 Sandalwood St Portage, IN	2.0–3.0	2.0	1088	$1,399	$1.29	1d	1	0.85mi
2299 McCool Rd Portage, IN	3.0	1.5	1375	$1,650	$1.20	1d	1	0.96mi
2540 Promenade Way Portage, IN	3.0	2.0	1558	$2,488	$1.60	4d	1	1.32mi

Listing history 5 events

1. 2026-05-07
   status Pending
2. 2026-05-05
   listed $80,000 Active
3. 2025-05-29
   historical
4. 2025-02-18
   historical Active Under Contract
5. 2025-02-12
   listed $80,000 Active

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥101°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: $23,282
• − Mortgage interest: −$4,481
• − Property taxes: −$1,200
• − Insurance: −$400
• − Repairs & maintenance: −$1,863
• − Management: −$1,863
• − Depreciation: −$2,327
• Taxable income: $11,148
• Est. tax owed @ 24.0%: −$2,676
• After-tax cash flow: $9,083/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: Portage Township Schools
• NCES district ID: 1809150
• Math proficiency: 26% ▼ -15.00%
• Reading proficiency: 36% ▼ -10.00%
• Median HH income: $53,880
• Composite: 27.37/100
• National rank: #6978
• State rank: #221 of 301 in IN

Livability — Portage

• Score: 72/100
• State rank: #111
• US rank: #5725

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Portage, IN
• County: Porter County · 151,647 people
• City population: 40,301
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 40,301
• Household income: $76,368
• Rent vs Own: 26.6% rent · 73.4% own
• Severe rent burden: 856.0

Population outlook (Porter County) Hauer SSP2

• Today (2025): 177,804 people
• By 2030: 181,552 · +2.1%
• By 2040: 185,830 · +4.5%
• By 2050: 187,498 · +5.5%
• By 2075: 189,585 · +6.6%
• By 2100: 183,722 · +3.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Hispanic / Latino 18% Two or more races 10% Black 10% Asian 1%
• Hispanic origin (detail): Mexican 13% Puerto Rican 4%
• Common ancestry: Romanian 6% Slovak 2% Iranian 1%
• Foreign-born: 3% · Canada
• Languages at home: 92% English-only · Spanish 6%

Political lean MEDSL · Porter

• 2024 margin: R (+10.5) · D 43.8% · R 54.3% · Other 1.8%
• 2008→2024 swing: -17.7pp toward R · 2008: 7.2pp · 2024: -10.5pp
• All cycles: 2024: R+10.5 2020: R+6.1 2016: R+6.8 2012: D+3.8 2008: D+7.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -195.94%
• Current HPI: 181.3254
• Rent YoY: ▲ 4.29%
• 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

+0.0% since first listed

5 events — show timeline

• 2026-05-07 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-05-05 Listed $80,000 NIRA MLS as Distributed by MLS Grid
• 2025-05-29 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2025-02-18 Contingent — NIRA MLS as Distributed by MLS Grid
• 2025-02-12 Listed $80,000 NIRA MLS as Distributed by MLS Grid

Property tax history

+10.5%/yr

Latest (2024): $4,088 · +0.6% YoY. Source: county tax records.