401 E St · La Porte, IN 46350

$220,000

3 bd · 2.0 ba · 1,840 sqft · SingleFamily public records · 44 Days on market

Built 1909 5,460 sqft lot Est $206k · 7% over

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Why this score? — see what drove the D- 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 +14.5/30.0
• ARV discount +4.5/15.0
• DSCR +4.4/10.0
• Livability +3.7/5.0
• Schools +3.5/10.0
• 1% rule +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 2 Story Charmer welcomes you with high ceilings, tall windows, and a wonderful atmosphere. This home boasts 3 bedrooms, 2 full baths (showers only), living room, formal dining room, Kitchen, basement, and garage. Sitting on a corner lot, the yard has been landscaped, and has a flower garden in the backyard. The main bedrooms suite has a sitting room and full bath. HOME WARRANTY!

Key facts

• Large storage area
• Gazebo
• Sunroom

Tags

• SUNROOM
• PATIO
• GAZEBO
• DETACHED GARAGE
• LARGE STORAGE AREA

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $50 ($602/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 $179k (18.7% below list).
• Recommended offer: $179k (18.7% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 3.7% in La Porte — 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 74/100 on livability (#81 in IN, #4,852 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: schools C-, commute F, employment F.
• Laporte Community School Corporation (urban): math 37% / reading 44% proficiency, ranked #139 of 301 in IN (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 260 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 216 units permitted in LaPorte County in 2024 (75 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• LaPorte County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($213k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 18y 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 $90k; list at $220k implies a 144% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1909 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $178,887 (18.7% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
2. Built in 1909 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.81% ✗
• Cap rate: 6.57%
• Cash-on-cash: 0.98%
• DSCR: 1.04
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $206,080
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
501 C St	0.15mi	4/2.0 (+1)	1,858 (+1%)	1mo	$179,000	$96	85
404 F St	0.09mi	3/2.0	1,734 (-6%)	3mo	$195,000	$112	84
411 E St	0.03mi	4/2.0 (+1)	1,958 (+6%)	1mo	$240,000	$123	82
513 3rd St	0.11mi	3/2.0	2,010 (+9%)	1mo	$185,000	$92	79
1401 Jefferson Ave	0.30mi	3/1.5	1,888 (+3%)	6mo	$189,000	$100	75
508 F St	0.12mi	3/2.0	2,066 (+12%)	1mo	$265,000	$128	74
513 1st St	0.22mi	3/1.0	1,726 (-6%)	6mo	$155,000	$90	71
210 Fox St	0.30mi	3/1.5	1,992 (+8%)	0mo	$150,000	$75	70
1011 Jackson St	0.61mi	4/2.0 (+1)	1,800 (-2%)	1mo	$128,000	$71	62
815 Eason Ct	0.47mi	3/2.0	2,034 (+10%)	4mo	$250,000	$123	57
827 Eason Ct	0.50mi	3/2.0	2,080 (+13%)	2mo	$265,000	$127	54
106 Franklin Ct	0.61mi	4/2.0 (+1)	2,054 (+12%)	3mo	$317,500	$155	45

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: -14.8%
• Equity multiple: 0.47×
• Total profit: $-32,524
• Equity at exit: $32,803

10-year hold

• IRR: -6.2%
• Equity multiple: 0.60×
• Total profit: $-24,490
• Equity at exit: $19,022

Cash invested: $61,600 (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 46350

• Active inventory: 260
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,789 medium
• Mortgage (P&I): −$1,154
• Tax from tax record: −$118 /mo · $1,412/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$376
• Net cashflow: $50

Break-even live

Break-even rent $1,725

Max offer price $220,000

Occupancy floor 92%

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
207 New York St La Porte, IN	2.0	1.0	1600	$3,200	$2.00	43d	1	1.31mi

Listing history 7 events

1. 2026-04-26
   status Pending
2. 2026-04-16
   status Active
3. 2026-04-07
   status Pending
4. 2026-03-04
   listed $220,000 Active
5. 2008-02-29
   listed $115,000 386-char remark

   Show marketing remark (386 chars)

   This 2 Story Charmer welcomes you with high ceilings, tall windows, and a wonderful atmosphere. This home boasts 3 bedrooms, 2 full baths (showers only), living room, formal dining room, Kitchen, basement, and garage. Sitting on a corner lot, the yard has been landscaped, and has a flower garden in the backyard. The main bedrooms suite has a sitting room and full bath. HOME WARRANTY!

6. 2001-09-17
   soldstatus $90,000
7. 1999-06-03
   soldstatus $86,000

ⓘ 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: $1,412 · $118/mo
• Projected year-2 tax: $1,641 · $137/mo
• Expected delta: +$229/yr (+$19/mo · 16.2%)

ⓘ 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 2/10 Low 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,466
• − Mortgage interest: −$12,323
• − Property taxes: −$1,412
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,717
• − Management: −$1,717
• − Depreciation: −$6,400
• Taxable loss: −$3,204
• Est. tax savings @ 24.0%: +$769
• After-tax cash flow: $1,371/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: Laporte Community School Corporation
• NCES district ID: 1805580
• Math proficiency: 37% ▼ -13.00%
• Reading proficiency: 44% ▼ -11.00%
• Median HH income: $46,761
• Composite: 34.58/100
• National rank: #5162
• State rank: #139 of 301 in IN

Livability — La Porte

• Score: 74/100
• State rank: #81
• US rank: #4852

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: La Porte, IN
• County: La Porte County · 88,580 people
• City population: 44,763
• Metro: Michigan City-La Porte, IN
• Population (ZIP): 44,763
• Household income: $74,307
• Rent vs Own: 23.9% rent · 76.1% own
• Severe rent burden: 835.0

Population outlook (LaPorte County) Hauer SSP2

• Today (2025): 109,757 people
• By 2030: 108,288 · -1.3%
• By 2040: 105,070 · -4.3%
• By 2050: 102,330 · -6.8%
• By 2075: 97,009 · -11.6%
• By 2100: 86,459 · -21.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 8% Hispanic / Latino 8% Black 3%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 11% Iranian 3% Italian 2%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 4% Russian/Polish/Slavic 1% German/W. Germanic 1%

Political lean MEDSL · LaPorte

• 2024 margin: R (+14.1) · D 42.1% · R 56.2% · Other 1.7%
• 2008→2024 swing: -19.1pp toward R · 2008: 5.0pp · 2024: -14.1pp
• All cycles: 2024: R+14.1 2020: R+7.2 2016: R+6.4 2012: D+12.6 2008: D+5.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -142.94%
• Current HPI: 209.2564
• Rent YoY: —
• Metro: Michigan City-La Porte, IN
• 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

+155.8% since first listed

7 events — show timeline

• 2026-04-26 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-04-16 Relisted — NIRA MLS as Distributed by MLS Grid
• 2026-04-07 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-03-04 Listed $220,000 NIRA MLS as Distributed by MLS Grid
• 2008-02-29 Listed $115,000 NIRA MLS as Distributed by MLS Grid
• 2001-09-17 Sold (Public Records) $90,000 Public Records
• 1999-06-03 Sold (Public Records) $86,000 Public Records

Property tax history

+7.0%/yr

Latest (2024): $1,412 · +9.1% YoY. Source: county tax records.