3671 Connecticut St · Gary, IN 46409

$149,999

4 bd · 2.0 ba · 896 sqft · SingleFamily public records · 9 Days on market

Built 1949 3,049 sqft lot $167/sqft · 139% above area

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Why this score? — see what drove the C 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 +24.3/30.0
• DSCR +7.8/10.0
• ARV discount +7.5/15.0
• 1% rule +5.5/10.0
• Rent growth +3.7/5.0
• Livability +3.7/5.0
• Appreciation +3.0/10.0
• Condition / age +2.5/5.0
• Schools +0.5/10.0

Listing remarks MLS

Spacious 4-Bedroom, 2-Bath Home - Full Renovation Opportunity!Calling all renovators, investors, and visionaries! This generously sized 4-bedroom, 2-bath home is brimming with potential and just waiting for the right owner to bring it back to life. With a functional layout and solid structure, this property offers the perfect foundation for a full transformation. The home features two full bathrooms, ample living space, and plenty of room to reimagine every corner. Whether you're looking to flip, invest, or create your forever home, the possibilities here are endless. This property is being sold as-is and is ideal for those looking to take on a renovation project and build instant equity. Bring your tools, your team, and your ideas. This is your chance to turn potential into reality!

Key facts

• Remodeled
• New roof
• 3,049 sq ft lot

Tags

• REMODELED
• NEW ROOF
• FURNACE AND WATER HEATER
• FULL UNFINISHED CLEAN BASEMENT

Property features AI

Exterior

• Security: Smoke detectors; Carbon monoxide detectors
• Utilities: Electricity connected (circuit breakers); Natural gas connected; Public water; Public sewer
• Home design: One-and-a-half story home; Built in 1949
• Construction: Brick exterior; Shingle roof; Unfinished basement
• Exterior features: Private yard; Other view

Interior

• Kitchen: Gas range; Stainless steel appliances; Refrigerator
• Bedrooms: Primary bedroom plus three additional bedrooms (4 total)
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; No cooling system
• Interior features: Open floorplan; Wood-burning fireplace in the living room
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $301 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).

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: Rents rising fast (+4.8%/yr); 77 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 5d 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 42% of the median local income ($45k/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 $1k of loan paydown is wiped out by about $4k 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 + 4.8% rent growth), your $42k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 17y ago 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.
• Current owner paid $25k; list at $150k implies a 500% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $149,999

Questions for the listing agent

1. Built in 1949 — 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 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.05% ✓
• Cap rate: 8.70%
• Cash-on-cash: 8.61%
• DSCR: 1.38
• GRM: 7.9

CMA / ARV

• ARV (median comp): $91,192
• List price: $149,999
• Delta: 64.49%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3326 Delaware St	0.43mi	3/1.0 (-1)	896 (0%)	1mo	$77,000	$86	70
3624 Georgia St	0.35mi	3/2.0 (-1)	954 (+6%)	7mo	$77,000	$81	62
3941 Connecticut St	0.35mi	3/1.0 (-1)	894 (-0%)	18mo	$135,000	$151	60
3320 Delaware St	0.44mi	3/1.0 (-1)	864 (-4%)	9mo	$57,000	$66	57
3913 Tennessee St	0.71mi	3/1.0 (-1)	875 (-2%)	13mo	$80,000	$91	43
1233 E 35th Pl	0.67mi	3/1.0 (-1)	936 (+4%)	13mo	$115,000	$123	42
3346 Delaware St	0.41mi	3/1.0 (-1)	1,017 (+14%)	10mo	$74,000	$73	41
711 E 40th Ave	0.54mi	3/1.0 (-1)	816 (-9%)	13mo	$10,000	$12	40
3873 Tyler St	0.73mi	3/2.5 (-1)	872 (-3%)	18mo	$35,000	$40	40
4054 Kentucky St	0.75mi	3/1.0 (-1)	960 (+7%)	12mo	$129,000	$134	35
1225 E 35th Pl	0.66mi	3/1.0 (-1)	1,028 (+15%)	13mo	$16,901	$16	25
3983 Monroe St	0.58mi	3/1.0 (-1)	1,022 (+14%)	19mo	$50,000	$49	25

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 · 4.85% rent growth · sell at horizon

5-year hold

• IRR: -1.3%
• Equity multiple: 0.95×
• Total profit: $-2,172
• Equity at exit: $22,365

10-year hold

• IRR: 10.1%
• Equity multiple: 1.84×
• Total profit: $35,385
• Equity at exit: $12,969

Cash invested: $42,000 (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 46409

• Home prices YoY: -2.0%
• Rents YoY: 4.8%
• Active inventory: 77
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,574 high
• Mortgage (P&I): −$787
• Tax from tax record: −$93 /mo · $1,114/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$330
• Net cashflow: $301

Break-even live

Break-even rent $1,192

Max offer price $149,999

Occupancy floor 76%

Sensitivity live

Price	-10% $386	-5% $344	+0% $301	+5% $259	+10% $216
Rent	-10% $177	-5% $239	+0% $301	+5% $363	+10% $426
Rate	-1.0pp $377	-0.5pp $339	base $301	+0.5pp $262	+1.0pp $223

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3708 Harrison St Gary, IN	3.0	1.5	904	$1,400	$1.55	4d	1	0.65mi
4018 Tyler St Gary, IN	3.0	1.0	880	$1,350	$1.53	0d	1	0.84mi
4456 Connecticut St Gary, IN	3.0	1.0	1044	$1,300	$1.25	5d	1	1.00mi
624 W 44th Pl Gary, IN	3.0	1.0	836	$1,250	$1.50	9d	1	1.11mi
4364 Buchanan St Gary, IN	3.0	1.0	900	$1,400	$1.56	0d	1	1.30mi
4748 Monroe St Gary, IN	3.0	1.0	1074	$1,695	$1.58	0d	1	1.44mi
4816 Massachusetts St Gary, IN	3.0	1.0	1024	$1,350	$1.32	17d	1	1.46mi

Listing history 8 events

1. 2026-05-11
   listed $149,999 Active 662-char remark
2. 2025-05-29
   soldstatus $25,000 Closed 794-char remark

   Show marketing remark (794 chars)

   Spacious 4-Bedroom, 2-Bath Home - Full Renovation Opportunity!Calling all renovators, investors, and visionaries! This generously sized 4-bedroom, 2-bath home is brimming with potential and just waiting for the right owner to bring it back to life. With a functional layout and solid structure, this property offers the perfect foundation for a full transformation. The home features two full bathrooms, ample living space, and plenty of room to reimagine every corner. Whether you're looking to flip, invest, or create your forever home, the possibilities here are endless. This property is being sold as-is and is ideal for those looking to take on a renovation project and build instant equity. Bring your tools, your team, and your ideas. This is your chance to turn potential into reality!

3. 2025-05-17
   status Pending 794-char remark

   Show marketing remark (794 chars)

   Spacious 4-Bedroom, 2-Bath Home - Full Renovation Opportunity!Calling all renovators, investors, and visionaries! This generously sized 4-bedroom, 2-bath home is brimming with potential and just waiting for the right owner to bring it back to life. With a functional layout and solid structure, this property offers the perfect foundation for a full transformation. The home features two full bathrooms, ample living space, and plenty of room to reimagine every corner. Whether you're looking to flip, invest, or create your forever home, the possibilities here are endless. This property is being sold as-is and is ideal for those looking to take on a renovation project and build instant equity. Bring your tools, your team, and your ideas. This is your chance to turn potential into reality!

4. 2025-05-14
   listed $30,000 Active 794-char remark

   Show marketing remark (794 chars)

   Spacious 4-Bedroom, 2-Bath Home - Full Renovation Opportunity!Calling all renovators, investors, and visionaries! This generously sized 4-bedroom, 2-bath home is brimming with potential and just waiting for the right owner to bring it back to life. With a functional layout and solid structure, this property offers the perfect foundation for a full transformation. The home features two full bathrooms, ample living space, and plenty of room to reimagine every corner. Whether you're looking to flip, invest, or create your forever home, the possibilities here are endless. This property is being sold as-is and is ideal for those looking to take on a renovation project and build instant equity. Bring your tools, your team, and your ideas. This is your chance to turn potential into reality!

5. 2013-11-01
   historical
6. 2012-12-05
   listed $49,900
7. 2009-10-27
   listed $9,500
8. 2009-09-15
   soldstatus $24,368

ⓘ 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: $1,114 · $93/mo
• Projected year-2 tax: $1,194 · $100/mo
• Expected delta: +$81/yr (+$7/mo · 7.2%)

ⓘ 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 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,883
• − Mortgage interest: −$8,402
• − Property taxes: −$1,114
• − Insurance: −$750
• − Repairs & maintenance: −$1,511
• − Management: −$1,511
• − Depreciation: −$4,364
• Taxable income: $1,232
• Est. tax owed @ 24.0%: −$296
• After-tax cash flow: $3,319/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): 7,184
• Household income: $44,667
• Rent vs Own: 55.5% rent · 44.5% own
• Severe rent burden: 516.0

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 (68%)
• Race & ethnicity: Black 68% Two or more races 17% Hispanic / Latino 14% White 11%
• Hispanic origin (detail): Mexican 8% Puerto Rican 5%
• Common ancestry: Iranian 1% Romanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · Spanish 6%

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: ▼ -3.91%
• Current HPI: 190.6724
• Rent YoY: ▲ 4.85%
• 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

+515.6% since first listed

9 events — show timeline

• 2026-05-20 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-05-11 Listed $149,999 NIRA MLS as Distributed by MLS Grid
• 2025-05-29 Sold (MLS) $25,000 NIRA MLS as Distributed by MLS Grid
• 2025-05-17 Pending — NIRA MLS as Distributed by MLS Grid
• 2025-05-14 Listed $30,000 NIRA MLS as Distributed by MLS Grid
• 2013-11-01 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2012-12-05 Listed $49,900 NIRA MLS as Distributed by MLS Grid
• 2009-10-27 Listed $9,500 NIRA MLS as Distributed by MLS Grid
• 2009-09-15 Sold (Public Records) $24,368 Public Records

Property tax history

-11.1%/yr

Latest (2024): $1,114 · +10.4% YoY. Source: county tax records.