5210 Howard Ave · Hammond, IN 46320

$185,000

3 bd · 1.0 ba · 1,010 sqft · SingleFamily public records · 87 Days on market

Built 1910 0.58 ac lot

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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 +13.7/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.4/5.0
• DSCR +4.1/10.0
• Livability +3.5/5.0
• 1% rule +3.3/10.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0

Listing remarks MLS

Good investment property in somewhat secluded area. 3 Bedrooms, 1 bath--last house on block.

Key facts

• Enclosed porch
• 0.58 acre lot
• Built 1910

Tags

• SECLUDED PRIVATE END OF STREET
• PARTLY FINISHED BASEMENT
• ENCLOSED PORCH

Property features AI

Finance

• Other: Living area reported as 1,810 (1,010 main level, 800 basement finished)
• Financial info: Tenant-occupied (multi-unit information indicates a tenant)
• HOA & community: No HOA information reported

Exterior

• Parking: On-street parking; Other parking
• Security: No security features reported
• Utilities: Public water; Public sewer
• Home design: One-level home; Built in 1910
• Construction: Brick construction; Shingle roof; Partially finished basement (foundation details not specified)
• Exterior features: Neighborhood view; Enclosed porch

Interior

• Kitchen: No appliances reported
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3; Bonus room
• Flooring: Laminate flooring; Tile flooring
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating (natural gas); Other cooling
• Interior features: No notable built-in interior features reported; Partially finished basement
• Laundry & utility: No laundry appliances reported

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $13 ($157/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $154k (16.8% below list).
• Recommended offer: $154k (16.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 70/100 on livability (#143 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, commute A; Watch: health & safety D+, employment D, schools F.
• School City Of Hammond (suburban): math 8% / reading 18% proficiency, ranked #289 of 301 in IN (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+7.6%/yr); 52 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).
• At $1,540/mo this rent would consume 50% of the median local household income ($37k/yr) (locally 900% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $20k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• Lake County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 7.6% rent growth), your $52k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 87 days — a 6% lower offer ($174k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 21y 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 $36k; list at $185k implies a 415% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $153,971 (16.8% below list)

Questions for the listing agent

1. It's been on market 87 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — 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: 0.83% ✗
• Cap rate: 6.38%
• Cash-on-cash: 0.30%
• DSCR: 1.01
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $111,100
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1119 Sibley St	0.42mi	3/1.0	1,016 (+1%)	3mo	$200,000	$197	77
907 Carroll St	0.58mi	3/1.0	1,008 (-0%)	0mo	$257,000	$255	72
956 Murray St	0.18mi	2/1.0 (-1)	970 (-4%)	14mo	$72,500	$75	69
1235 Logan St	0.45mi	3/1.0	962 (-5%)	12mo	$85,000	$88	61
713 Sibley St	0.43mi	3/1.0	1,112 (+10%)	4mo	$20,000	$18	60
1337 Truman St	0.49mi	3/1.0	977 (-3%)	15mo	$59,900	$61	60
1458 Shell St	0.58mi	3/1.0	1,065 (+5%)	11mo	$165,000	$155	55
1254 150th St	0.42mi	3/1.0	891 (-12%)	12mo	$90,000	$101	50
5640 Beall Ave	0.65mi	3/1.0	903 (-11%)	7mo	$110,000	$122	46
918 Willow Ct	0.27mi	2/2.0 (-1)	880 (-13%)	12mo	$164,900	$187	46
1325 Truman St	0.46mi	2/1.0 (-1)	860 (-15%)	8mo	$95,000	$110	42
1049 Drackert St	0.73mi	2/1.0 (-1)	864 (-14%)	11mo	$62,505	$72	27

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

Projected returns pro-forma

10.0% appreciation · 7.61% rent growth · sell at horizon

5-year hold

• IRR: 26.0%
• Equity multiple: 3.11×
• Total profit: $109,041
• Equity at exit: $166,663

10-year hold

• IRR: 24.1%
• Equity multiple: 7.54×
• Total profit: $338,642
• Equity at exit: $359,414

Cash invested: $51,800 (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 46320

• Home prices YoY: 5.0%
• Rents YoY: 7.6%
• Active inventory: 52
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,540 high
• Mortgage (P&I): −$970
• Tax from tax record: −$156 /mo · $1,872/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$323
• Net cashflow: $13

Break-even live

Break-even rent $1,523

Max offer price $185,000

Occupancy floor 94%

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1227 Logan St Hammond, IN	2.0	1.0	768	$1,350	$1.76	15d	1	0.40mi
1227 Logan St Hammond, IN	2.0	1.0	768	$1,350	$1.76	10d	1	0.40mi
1344 Michigan St Hammond, IN	3.0	1.0	1006	$1,595	$1.59	15d	1	0.44mi
1454 Sherman St Hammond, IN	3.0	1.0	960	$1,400	$1.46	4d	1	0.99mi
4624 Towle Ave Hammond, IN	4.0	2.0	1500	$2,500	$1.67	3d	1	1.05mi
4624 Towle Ave Hammond, IN	4.0	2.0	1500	$2,500	$1.67	1d	1	1.05mi
3 Ruth St Hammond, IN	2.0	1.0	900	$1,250	$1.39	25d	1	1.37mi
5 Ruth St Unit 2W Hammond, IN	2.0	1.0	900	$1,250	$1.39	13d	1	1.37mi
3 Waltham St Hammond, IN	3.0	1.0	1200	$1,095	$0.91	25d	1	1.40mi
115 157th St Unit 3 Calumet City, IL	3.0	1.0	800	$1,350	$1.69	25d	1	1.41mi

Listing history 18 events

1. 2026-06-18
   days on market $185,000 Active 87 DOM
2. 2026-06-17
   days on market $185,000 Active 86 DOM
3. 2026-06-16
   days on market $185,000 Active 85 DOM
4. 2026-06-15
   days on market $185,000 Active 84 DOM
5. 2026-06-13
   days on market $185,000 Active 82 DOM
6. 2026-06-09
   days on market $185,000 Active 78 DOM
7. 2026-06-08
   days on market $185,000 Active 77 DOM
8. 2026-06-07
   days on market $185,000 Active 76 DOM
9. 2026-06-04
   days on market $185,000 Active 73 DOM
10. 2026-06-03
    days on market $185,000 Active 72 DOM
11. 2026-06-02
    days on market $185,000 Active 71 DOM
12. 2026-06-01
    days on market $185,000 Active 70 DOM
13. 2026-05-31
    days on market $185,000 Active 69 DOM
14. 2026-03-23
    listed $185,000 Active
15. 2006-12-23
    historical
16. 2006-07-25
    listed $89,900
17. 2005-11-28
    listed $39,900 92-char remark

    Show marketing remark (92 chars)

    Good investment property in somewhat secluded area. 3 Bedrooms, 1 bath--last house on block.

18. 2005-09-27
    soldstatus $35,900

ⓘ 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: $1,872 · $156/mo
• Projected year-2 tax: $1,872 · $156/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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 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: $18,477
• − Mortgage interest: −$10,363
• − Property taxes: −$1,872
• − Insurance: −$925
• − Repairs & maintenance: −$1,478
• − Management: −$1,478
• − Depreciation: −$5,382
• Taxable loss: −$3,022
• Est. tax savings @ 24.0%: +$725
• After-tax cash flow: $883/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: School City Of Hammond
• NCES district ID: 1804320
• Math proficiency: 8% ▼ -18.00%
• Reading proficiency: 18% ▼ -15.00%
• Median HH income: $39,970
• Composite: 11.11/100
• National rank: #9730
• State rank: #289 of 301 in IN

Livability — Hammond

• Score: 70/100
• State rank: #143
• US rank: #7343

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hammond, IN
• County: Lake County · 422,878 people
• City population: 58,809
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 14,353
• Household income: $37,158
• Rent vs Own: 58.8% rent · 41.2% own
• Severe rent burden: 900.0

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: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: Black 44% Hispanic / Latino 39% White 14% Two or more races 12% Asian 1%
• Hispanic origin (detail): Mexican 31% Puerto Rican 4%
• Common ancestry: Romanian 2% Lithuanian 1%
• Foreign-born: 14% · Canada
• Languages at home: 68% English-only · Spanish 31%

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: ▲ 13.81%
• Current HPI: 288.1513
• Rent YoY: ▲ 7.61%
• 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

+415.3% since first listed

5 events — show timeline

• 2026-03-23 Listed $185,000 NIRA MLS as Distributed by MLS Grid
• 2006-12-23 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2006-07-25 Listed $89,900 NIRA MLS as Distributed by MLS Grid
• 2005-11-28 Listed $39,900 NIRA MLS as Distributed by MLS Grid
• 2005-09-27 Sold (Public Records) $35,900 Public Records

Property tax history

-2.3%/yr

Latest (2024): $1,872 · -4.0% YoY. Source: county tax records.