106 Scotch Dr · New Chicago, IN 46342

$39,999

2 bd · 2.0 ba · 1,150 sqft · Manufactured · 166 Days on market

Built 2026 Good condition 7,000 sqft lot $35/sqft · 44% below area Est $72k · 44% under $600/mo HOA · 46% of rent

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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
• Condition / age +4.0/5.0
• Rent growth +3.9/5.0
• Livability +3.2/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is the perfect home. .. the living room is combined with the dining room, as depicted in the computer generated photo to show the layout. This area is extremely spacious and perfectly designed for an open concept. The kitchen is amazing a great design with still enough room to add your own island. Stainless steel appliances are included. The first bedroom is located in the front of the home with a full bathroom, with bathtub and shower combo. Just off the rear door is the laundry room, with both gas & electric dryer connections. The master suite is located in the rear of the home, the master bedroom is oversized with master bathroom with bathtub and shower combo. .. . and His & Her's closets. The land is not included in the sale, the home is on leased land in Ravinia Pines, Hobart, IN. Hablamos Español.

Key facts

• Master suite
• Open concept
• Laundry room

Tags

• OPEN CONCEPT
• STAINLESS STEEL APPLIANCES
• LAUNDRY ROOM
• MASTER SUITE
• HIS AND HER'S CLOSETS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $40k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $156 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Recommended offer: $35k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#385 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D, amenities F, commute F.
• River Forest Community School Corporation (suburban): math 17% / reading 30% proficiency, ranked #268 of 301 in IN (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+5.6%/yr); 255 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $276 of loan paydown is wiped out by about $1k 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 + 5.6% rent growth), your $11k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 166 days — a 12% lower offer ($35k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 46% of rent.

Recommended offer $35,199 (12.0% below list)

Questions for the listing agent

1. It's been on market 166 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 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?
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: 3.27% ✓
• Cap rate: 10.99%
• Cash-on-cash: 16.76%
• DSCR: 1.75
• GRM: 2.5

CMA / ARV

• ARV (median comp): $72,000
• List price: $39,999
• Delta: -44.45%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.63% rent growth · sell at horizon

5-year hold

• IRR: 15.3%
• Equity multiple: 1.66×
• Total profit: $7,419
• Equity at exit: $5,964

10-year hold

• IRR: 28.1%
• Equity multiple: 4.24×
• Total profit: $36,242
• Equity at exit: $3,458

Cash invested: $11,200 (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 46342

• Rents YoY: 5.6%
• Active inventory: 255
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $1,307 high
• Mortgage (P&I): −$210
• Tax est. 1.5%: −$50 /mo · $600/yr
• Insurance: −$17
• HOA: −$600
• Vacancy / Maint / Mgmt: −$275
• Net cashflow: $156

Break-even live

Break-even rent $1,109

Max offer price $39,999

Occupancy floor 83%

Sensitivity live

Price	-10% $184	-5% $170	+0% $156	+5% $143	+10% $129
Rent	-10% $53	-5% $105	+0% $156	+5% $208	+10% $260
Rate	-1.0pp $177	-0.5pp $167	base $156	+0.5pp $146	+1.0pp $135

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
905 W 37th Ave Unit 48 Hobart, IN	2.0	1.0	1000	$1,200	$1.20	44d	1	0.26mi
416 Van Buren Ave Hobart, IN	3.0	1.0	1085	$1,395	$1.29	1d	1	0.50mi
2955 DeKalb St Lake Station, IN	2.0	1.0	784	$1,100	$1.40	2d	1	0.74mi
2830 Grand Blvd Lake Station, IN	3.0	1.0	864	$1,395	$1.61	1d	1	0.97mi
333 Neringa Ln Hobart, IN	1.0–3.0	1.0–2.0	1009	$1,470	$1.46	1d	11	0.98mi
3753 Englehart St Lake Station, IN	3.0	1.0	1224	$1,450	$1.18	1d	1	1.04mi
2716 Huntington St Lake Station, IN	3.0	1.0	832	$1,500	$1.80	1d	1	1.07mi

HOA detail

• Monthly dues: $600 · $7,200/yr
• Likely covers: gaselectric

Listing history 15 events

1. 2026-06-18
   days on market $39,999 Active 166 DOM
2. 2026-06-17
   days on market $39,999 Active 165 DOM
3. 2026-06-16
   days on market $39,999 Active 164 DOM
4. 2026-06-15
   days on market $39,999 Active 163 DOM
5. 2026-06-13
   days on market $39,999 Active 161 DOM
6. 2026-06-13
   days on market $39,999 Active 160 DOM
7. 2026-06-09
   days on market $39,999 Active 157 DOM
8. 2026-06-08
   days on market $39,999 Active 156 DOM
9. 2026-06-07
   days on market $39,999 Active 155 DOM
10. 2026-06-04
    days on market $39,999 Active 152 DOM
11. 2026-06-03
    days on market $39,999 Active 151 DOM
12. 2026-06-02
    days on market $39,999 Active 150 DOM
13. 2026-06-01
    days on market $39,999 Active 149 DOM
14. 2026-05-31
    days on market $39,999 Active 148 DOM
15. 2026-01-04
    listed $39,999 Active 838-char remark

    Show marketing remark (838 chars)

    This is the perfect home. .. the living room is combined with the dining room, as depicted in the computer generated photo to show the layout. This area is extremely spacious and perfectly designed for an open concept. The kitchen is amazing a great design with still enough room to add your own island. Stainless steel appliances are included. The first bedroom is located in the front of the home with a full bathroom, with bathtub and shower combo. Just off the rear door is the laundry room, with both gas & electric dryer connections. The master suite is located in the rear of the home, the master bedroom is oversized with master bathroom with bathtub and shower combo. .. . and His & Her's closets. The land is not included in the sale, the home is on leased land in Ravinia Pines, Hobart, IN. Hablamos Español.

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

Taxation est. · year 1

• Rental income: $15,689
• − Mortgage interest: −$2,241
• − Property taxes: −$600
• − Insurance: −$200
• − Repairs & maintenance: −$1,255
• − Management: −$1,255
• − HOA: −$7,200
• − Depreciation: −$1,164
• Taxable income: $1,774
• Est. tax owed @ 24.0%: −$426
• After-tax cash flow: $1,451/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This home is in excellent condition with a good condition score of 80. It is move-in ready with a few cosmetic updates that can further increase its value.

Value-add opportunities

• Both Painting the interior walls — Fresh paint can enhance the home's curb appeal and interior aesthetics.
• Both Updating the flooring — Replacing worn-out flooring can improve the home's overall appearance and value.
• Both Upgrading the kitchen appliances — Modernizing the kitchen appliances can increase the home's appeal and value.
• Both Adding a smart home system — Integrating smart home technology can enhance convenience and increase the home's value.
• Both Landscaping the front yard — A well-maintained front yard can significantly boost the home's curb appeal and value.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the interior walls — Fresh paint can enhance the home's curb appeal and interior aesthetics. ↑
• Both Updating the flooring — Replacing worn-out flooring can improve the home's overall appearance and value. ↑
• Both Upgrading the kitchen appliances — Modernizing the kitchen appliances can increase the home's appeal and value. ↑
• Both Adding a smart home system — Integrating smart home technology can enhance convenience and increase the home's value. ↑
• Both Landscaping the front yard — A well-maintained front yard can significantly boost the home's curb appeal and value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: River Forest Community School Corporation
• NCES district ID: 1804620
• Math proficiency: 17% ▼ -18.00%
• Reading proficiency: 30% ▼ -6.00%
• Median HH income: $38,317
• Composite: 19.65/100
• National rank: #8738
• State rank: #268 of 301 in IN

Livability — New Chicago

• Score: 64/100
• State rank: #385
• US rank: #14244

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Chicago, IN
• County: Lake County · 422,878 people
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 32,224
• Household income: $75,521
• Rent vs Own: 25.9% rent · 74.1% own
• Severe rent burden: 1033.0

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 (66%)
• Race & ethnicity: White 66% Hispanic / Latino 21% Two or more races 10% Black 10% Asian 1%
• Hispanic origin (detail): Mexican 15% Puerto Rican 5%
• Common ancestry: Romanian 11% Iranian 2% Lithuanian 1%
• Foreign-born: 5% · Canada, China
• Languages at home: 87% English-only · Spanish 9% Russian/Polish/Slavic 2% Chinese 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: ▼ -167.01%
• Current HPI: 260.2635
• Rent YoY: ▲ 5.63%
• 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

1 event — show timeline

• 2026-01-04 Listed $39,999 Zillow