7104 W 132nd Pl · Cedar Lake, IN 46303

$99,000

2 bd · 1.0 ba · 881 sqft · SingleFamily public records · 81 Days on market

Built 1919 4,791 sqft lot $112/sqft · 48% below area Est $191k · 48% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investment property that is walking distant from Cedar Lake.

Key facts

• 4,791 sq ft lot
• Built 1919
• Listed 80 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $590 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $99k).
• Recommended offer: $93k (6.0% below list) — sets the bar for market timing.
• Cap rate 14.3% vs local median 3.5% in Cedar Lake — 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 65/100 on livability (#354 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Crown Point Community School Corporation (suburban): math 51% / reading 61% proficiency, ranked #23 of 301 in IN (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 18% free/reduced lunch — higher-income household profile.
• Market conditions: 269 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $684 of loan paydown is wiped out by about $3k 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 $28k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 81 days — a 6% lower offer ($93k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y 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 $68k; 46% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1919 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $93,060 (6.0% below list)

Questions for the listing agent

1. It's been on market 81 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 1919 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 1.75% ✓
• Cap rate: 14.25%
• Cash-on-cash: 28.42%
• DSCR: 2.26
• GRM: 4.8

CMA / ARV

• ARV (median comp): $191,206
• List price: $99,000
• Delta: -48.22%
• 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
6915 W 130th Pl	0.18mi	1/1.0 (-1)	872 (-1%)	11mo	$105,000	$120	76
13129 Morse St	0.07mi	2/1.0	968 (+10%)	9mo	$167,000	$173	73
7125 W 128th Ln	0.42mi	2/1.0	908 (+3%)	13mo	$205,000	$226	65
13341 Fulton St	0.32mi	2/2.0	952 (+8%)	5mo	$292,000	$307	64
7529 W 126th Ave	0.72mi	2/1.0	875 (-1%)	8mo	$105,000	$120	59
7332 W 137th Ave	0.66mi	2/1.5	930 (+6%)	0mo	$284,900	$306	58
12805 Hilltop St	0.59mi	3/1.0 (+1)	882 (+0%)	15mo	$183,680	$208	55
7522 W 129th Ave	0.49mi	2/1.0	908 (+3%)	21mo	$197,000	$217	55
7201 W 136th Ln	0.59mi	2/1.0	811 (-8%)	9mo	$121,000	$149	52
6819 W 128th Pl	0.48mi	3/1.0 (+1)	800 (-9%)	12mo	$170,000	$213	47
7021 W 137th Ln	0.73mi	2/1.0	786 (-11%)	12mo	$206,000	$262	38
7216 W 128th Ln	0.45mi	2/1.0	751 (-15%)	22mo	$130,000	$173	36

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: 19.2%
• Equity multiple: 1.78×
• Total profit: $21,627
• Equity at exit: $14,761

10-year hold

• IRR: 27.5%
• Equity multiple: 3.44×
• Total profit: $67,570
• Equity at exit: $8,560

Cash invested: $27,720 (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 46303

• Active inventory: 269
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,731 medium
• Mortgage (P&I): −$519
• Tax from tax record: −$151 /mo · $1,807/yr
• Insurance: −$41
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$364
• Net cashflow: $590

Break-even live

Break-even rent $984

Max offer price $99,000

Occupancy floor 61%

Sensitivity live

Price	-10% $646	-5% $618	+0% $590	+5% $562	+10% $534
Rent	-10% $453	-5% $522	+0% $590	+5% $659	+10% $727
Rate	-1.0pp $640	-0.5pp $615	base $590	+0.5pp $564	+1.0pp $538

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13328 Edison St Cedar Lake, IN	3.0	2.0	1125	$2,095	$1.86	0d	1	0.25mi
12910 S Cline Ave Apt C Cedar Lake, IN	2.0	1.0	1056	$1,150	$1.09	0d	1	0.73mi

Listing history 20 events

1. 2026-06-21
   days on market $99,000 Active 81 DOM
2. 2026-06-18
   days on market $99,000 Active 78 DOM
3. 2026-06-17
   days on market $99,000 Active 77 DOM
4. 2026-06-16
   days on market $99,000 Active 76 DOM
5. 2026-06-15
   days on market $99,000 Active 75 DOM
6. 2026-06-13
   days on market $99,000 Active 73 DOM
7. 2026-06-13
   days on market $99,000 Active 72 DOM
8. 2026-06-09
   days on market $99,000 Active 69 DOM
9. 2026-06-08
   days on market $99,000 Active 68 DOM
10. 2026-06-07
    days on market $99,000 Active 67 DOM
11. 2026-06-04
    days on market $99,000 Active 64 DOM
12. 2026-06-03
    days on market $99,000 Active 63 DOM
13. 2026-06-02
    days on market $99,000 Active 62 DOM
14. 2026-06-01
    days on market $99,000 Active 61 DOM
15. 2026-05-31
    days on market $99,000 Active 60 DOM
16. 2026-04-01
    listed $99,000 Active 60-char remark

    Show marketing remark (60 chars)

    Investment property that is walking distant from Cedar Lake.

17. 2023-05-12
    soldstatus $68,000 Closed 186-char remark

    Show marketing remark (186 chars)

    Investor special! This 2 bed, 1 bath fixer upper home needs a cash buyer. There is an unfinished addition in the rear that adds square footage to the home. This home is being sold as-is.

18. 2023-04-24
    status Pending 186-char remark

    Show marketing remark (186 chars)

    Investor special! This 2 bed, 1 bath fixer upper home needs a cash buyer. There is an unfinished addition in the rear that adds square footage to the home. This home is being sold as-is.

19. 2023-04-10
    listed $75,000 Active 186-char remark

    Show marketing remark (186 chars)

    Investor special! This 2 bed, 1 bath fixer upper home needs a cash buyer. There is an unfinished addition in the rear that adds square footage to the home. This home is being sold as-is.

20. 2007-05-18
    soldstatus $39,000

ⓘ 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: $1,807 · $151/mo
• Projected year-2 tax: $1,807 · $151/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 7/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥100°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,774
• − Mortgage interest: −$5,546
• − Property taxes: −$1,807
• − Insurance: −$1,292
• − Repairs & maintenance: −$1,662
• − Management: −$1,662
• − Depreciation: −$2,880
• Taxable income: $5,925
• Est. tax owed @ 24.0%: −$1,422
• After-tax cash flow: $5,660/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: Crown Point Community School Corporation
• NCES district ID: 1802490
• Math proficiency: 51% ▼ -9.00%
• Reading proficiency: 61% ▼ -8.00%
• Median HH income: $69,148
• Composite: 49.55/100
• National rank: #1990
• State rank: #23 of 301 in IN

Livability — Cedar Lake

• Score: 65/100
• State rank: #354
• US rank: #13482

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cedar Lake, IN
• County: Lake County · 422,878 people
• City population: 17,680
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 17,680
• Household income: $84,211
• Rent vs Own: 13.5% rent · 86.5% own
• Severe rent burden: 84.0

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 White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 8% Two or more races 7%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Romanian 16% Iranian 9% Italian 1%
• Foreign-born: 2% · China
• Languages at home: 95% English-only · Other Indo-European 2% Russian/Polish/Slavic 2% Spanish 2%

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: ▼ -182.94%
• Current HPI: 267.4434
• 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

+153.8% since first listed

5 events — show timeline

• 2026-04-01 Listed $99,000 NIRA MLS as Distributed by MLS Grid
• 2023-05-12 Sold (MLS) $68,000 NIRA MLS as Distributed by MLS Grid
• 2023-04-24 Pending — NIRA MLS as Distributed by MLS Grid
• 2023-04-10 Listed $75,000 NIRA MLS as Distributed by MLS Grid
• 2007-05-18 Sold (Public Records) $39,000 Public Records

Property tax history

+0.9%/yr

Latest (2024): $1,807 · +8.5% YoY. Source: county tax records.