8417 Hohman Ave · Munster, IN 46321

$329,900

2 bd · 1.5 ba · 1,187 sqft · SingleFamily public records · 1 Days on market

Built 1957 9,583 sqft lot Est $275k · 20% over

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Why this score? — see what drove the F 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 +6.5/30.0
• Schools +5.7/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.0/10.0
• DSCR +0.8/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Great opportunity in Munster for a homeowner looking to build equity. This all brick 4 bed, 2 bath home is located in a desirable neighborhood and offers plenty of potential. Opportunities like this in Munster do not come around often. Bring your vision and make this property your own. Property is being sold as-is.

Key facts

• 9,583 sq ft lot
• Garage
• Built 1957

Property features AI

Finance

• Other: Occupant status: vacant
• Financial info: Property condition noted as fixer

Exterior

• Parking: Attached garage; 1 garage space
• Security: No security features listed
• Utilities: Public water; Public sewer
• Home design: One-level home; Built in 1957; Property listed as fixer condition
• Construction: Year built 1957
• Exterior features: Neighborhood view; Basement present (partially finished)

Interior

• Kitchen: Dishwasher; Range; Microwave; Other kitchen appliance(s) included
• Bedrooms: Primary bedroom plus three additional bedrooms
• Flooring: No flooring details provided
• Bathrooms: 1 full bathroom; 1 three-quarter bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: No notable interior features listed; Partially finished basement; Total of 8 rooms including bonus room, living room, kitchen, dining room and 4 bedrooms
• Laundry & utility: No specific laundry or utility appliances listed

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $330k.

Deal economics

• At list price, monthly cash flow is $-556 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $232k (29.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $197k (40.3% below list).
• Recommended offer: $197k (40.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 81/100 on livability (#17 in IN, #1,427 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, employment A+; Watch: amenities F, commute F.
• School Town Of Munster (suburban): math 65% / reading 64% proficiency, ranked #6 of 301 in IN (top 2%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: 112 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 10d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 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 $2k of loan paydown is wiped out by about $10k 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.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 28y 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.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $197,027 (40.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1957 — 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. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. 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?
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: 0.60% ✗
• Cap rate: 4.27%
• Cash-on-cash: -7.23%
• DSCR: 0.68
• GRM: 14.0

CMA / ARV

• ARV (on-the-fly): $275,384
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8322 Harrison Ave	0.29mi	3/1.0 (+1)	1,126 (-5%)	3mo	$249,000	$221	69
249 Briar Ln	0.13mi	3/1.0 (+1)	1,068 (-10%)	3mo	$280,000	$262	68
8128 Jackson Ave	0.52mi	2/1.0	1,159 (-2%)	6mo	$255,000	$220	65
18122 Wentworth Ave	0.54mi	3/2.0 (+1)	1,150 (-3%)	6mo	$268,500	$233	57
18747 Sherman St	0.70mi	3/1.0 (+1)	1,102 (-7%)	2mo	$149,000	$135	46
3540 Madison St	0.71mi	3/2.0 (+1)	1,117 (-6%)	7mo	$287,000	$257	45
18316 Sherman St	0.57mi	3/1.0 (+1)	1,056 (-11%)	4mo	$130,000	$123	45
3522 Washington St	0.68mi	3/1.0 (+1)	1,080 (-9%)	3mo	$180,000	$167	44
3316 Ann St	0.73mi	3/2.5 (+1)	1,264 (+6%)	3mo	$260,000	$206	44
18540 Miller Dr	0.51mi	3/1.0 (+1)	1,040 (-12%)	6mo	$243,000	$234	44
3535 Washington St	0.64mi	3/2.0 (+1)	1,024 (-14%)	1mo	$275,000	$269	39
304 Beverly Pl	0.66mi	3/2.0 (+1)	1,359 (+14%)	7mo	$315,000	$232	32

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: -28.9%
• Equity multiple: 0.04×
• Total profit: $-88,971
• Equity at exit: $49,189

10-year hold

• IRR: -29.0%
• Equity multiple: -0.34×
• Total profit: $-123,405
• Equity at exit: $28,524

Cash invested: $92,372 (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 46321

• Active inventory: 112
• Price-to-rent: 14.0×

Monthly cashflow live

• Estimated rent: $1,970 high
• Mortgage (P&I): −$1,730
• Tax from tax record: −$245 /mo · $2,946/yr
• Insurance: −$137
• HOA: −$0
• Vacancy / Maint / Mgmt: −$414
• Net cashflow: $-556

Break-even live

Break-even rent $2,675

Max offer price $231,602

Occupancy floor —

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: $82,475
• Closing costs: $9,897
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18335 Sherman St Unit 3 Lansing, IL	3.0	1.0	1000	$1,700	$1.70	1d	1	0.54mi
3649 173rd Ct Lansing, IL	2.0	2.0	972	$1,357	$1.40	24d	1	1.30mi
2824 186th St Lansing, IL	3.0	2.0	1400	$2,900	$2.07	10d	1	1.34mi
3020 178th St Unit C1 Lansing, IL	2.0	1.0	900	$1,550	$1.72	1d	1	1.38mi
3020 178th St Apt C7 Lansing, IL	2.0	1.0	900	$1,550	$1.72	24d	1	1.38mi

Listing history 2 events

1. 2026-06-17
   remarks 316-char remark
2. 2026-06-17
   listed $329,900 Active 1 DOM

ⓘ 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: $2,946 · $245/mo
• Projected year-2 tax: $2,946 · $245/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 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 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,643
• − Mortgage interest: −$18,480
• − Property taxes: −$2,946
• − Insurance: −$1,650
• − Repairs & maintenance: −$1,891
• − Management: −$1,891
• − Depreciation: −$9,597
• Taxable loss: −$12,811
• Est. tax savings @ 24.0%: +$3,075
• After-tax cash flow: $-3,603/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 Town Of Munster
• NCES district ID: 1807350
• Math proficiency: 65% ▼ -1.00%
• Reading proficiency: 64% ▼ -4.00%
• Median HH income: $71,901
• Composite: 56.91/100
• National rank: #1115
• State rank: #6 of 301 in IN

Livability — Munster

• Score: 81/100
• State rank: #17
• US rank: #1427

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Munster, IN
• County: Lake County · 422,878 people
• City population: 23,733
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 23,733
• Household income: $110,187
• Rent vs Own: 13.0% rent · 87.0% own
• Severe rent burden: 338.0

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 (71%)
• Race & ethnicity: White 71% Hispanic / Latino 14% Two or more races 8% Black 7% Asian 6%
• Hispanic origin (detail): Mexican 11% Puerto Rican 2%
• Common ancestry: Romanian 16% Iranian 4% Lithuanian 1%
• Foreign-born: 9% · Canada, South Korea, China
• Languages at home: 86% English-only · Spanish 6% Russian/Polish/Slavic 3% Other Indo-European 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: ▼ -213.34%
• Current HPI: 232.4818
• 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

+164.1% since first listed

2 events — show timeline

• 2026-06-17 Listed $329,900 NIRA MLS as Distributed by MLS Grid
• 1998-08-28 Listed $124,900 NIRA MLS as Distributed by MLS Grid

Property tax history

-0.8%/yr

Latest (2024): $2,946 · -12.6% YoY. Source: county tax records.