100 Plum Creek Dr Apt 3 · Schererville, IN 46375

$139,000

2 bd · 1.0 ba · 1,154 sqft · Condo · 13 Days on market

Built 1979 Good condition $250/mo HOA · 13% of rent

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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 +23.7/30.0
• 1% rule +8.4/10.0
• DSCR +7.6/10.0
• ARV discount +7.5/15.0
• Schools +4.5/10.0
• Condition / age +3.8/5.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this beautifully maintained second-floor condominium offering comfort, convenience, and low-maintenance living in desirable St. John Township! Featuring 2 spacious bedrooms, 1 full bath, and approximately 1,100 square feet, this condo boasts an open-concept kitchen and dining area perfect for entertaining or everyday living. Enjoy the convenience of a 1-car garage along with a prime location just minutes from the Indiana state line, making for an easy commute to Chicago. Low HOA fees add even more value to this move-in-ready opportunity. Whether you're a first-time buyer, downsizing. .. This condo checks all the boxes!

Key facts

• Low hoa fees
• Open-concept kitchen
• Prime location

Tags

• SECOND-FLOOR CONDOMINIUM
• OPEN-CONCEPT KITCHEN
• PRIME LOCATION
• LOW HOA FEES

Property features AI

Finance

• HOA & community: Homeowners association (Rose Real Estate); Monthly association fee of $250; Association covers maintenance of grounds and structure, trash, and snow removal; Association provides landscaping, management, and grounds maintenance

Exterior

• Parking: Detached garage; 1 garage space
• Utilities: Public water; Public sewer
• Home design: Condo / attached property; One-level; Built in 1979
• Construction: Built in 1979
• Exterior features: City view; Balcony

Interior

• Kitchen: Refrigerator; Electric cooktop; Dishwasher
• Bedrooms: Primary bedroom; Second bedroom
• Flooring: Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Eat-in kitchen; Open floor plan
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $139k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $264 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $139k).
• Cap rate 8.6% vs local median 4.0% in Schererville — 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 68/100 on livability (#226 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, health & safety F.
• Lake Central School Corporation (suburban): math 45% / reading 54% proficiency, ranked #41 of 301 in IN (top 14%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 15% free/reduced lunch — higher-income household profile.
• Market conditions: 161 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 1d 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 $961 of loan paydown is wiped out by about $4k 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 13 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $139,000

Questions for the listing agent

1. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.34% ✓
• Cap rate: 8.57%
• Cash-on-cash: 8.15%
• DSCR: 1.36
• GRM: 6.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -3.8%
• Equity multiple: 0.86×
• Total profit: $-5,508
• Equity at exit: $20,725

10-year hold

• IRR: 6.0%
• Equity multiple: 1.45×
• Total profit: $17,619
• Equity at exit: $12,018

Cash invested: $38,920 (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 46375

• Active inventory: 161
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,867 high
• Mortgage (P&I): −$729
• Tax est. 1.5%: −$174 /mo · $2,085/yr
• Insurance: −$58
• HOA: −$250
• Vacancy / Maint / Mgmt: −$392
• Net cashflow: $264

Break-even live

Break-even rent $1,532

Max offer price $139,000

Occupancy floor 81%

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2219 Teakwood Cir Highland, IN	2.0	2.0	1255	$2,420	$1.93	1d	5	0.77mi
10029 Kennedy Ave Highland, IN	1.0–2.0	1.0	800	$1,550	$1.94	1d	1	1.00mi
9949 Kennedy Ave Apt 2 Highland, IN	1.0	1.0	750	$1,250	$1.67	6d	1	1.05mi
2109 45th St Highland, IN	2.0	1.0	1269	$1,550	$1.22	1d	1	1.20mi
2109 45th St Unit 101 1 Highland, IN	2.0	1.0	1269	$1,550	$1.22	15d	1	1.20mi
2121 45th St Highland, IN	1.0–2.0	1.0–2.0	758	$2,150	$2.83	1d	2	1.21mi
2300 Azalea Dr Highland, IN	1.0–2.0	1.0–2.0	887	$1,729	$1.95	1d	29	1.34mi

HOA detail condo

• Monthly dues: $250 · $3,000/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 10 events

1. 2026-06-13
   statusdays on market $139,000 Pending 13 DOM
2. 2026-06-09
   days on market $139,000 Active Under Contract 11 DOM
3. 2026-06-08
   days on market $139,000 Active Under Contract 10 DOM
4. 2026-06-07
   days on market $139,000 Active Under Contract 9 DOM
5. 2026-06-04
   days on market $139,000 Active Under Contract 6 DOM
6. 2026-06-03
   days on market $139,000 Active Under Contract 5 DOM
7. 2026-06-02
   days on market $139,000 Active Under Contract 4 DOM
8. 2026-06-01
   days on market $139,000 Active Under Contract 3 DOM
9. 2026-06-01
   status $139,000 Active Under Contract 2 DOM
10. 2026-05-31
    days on market $139,000 Active 2 DOM

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

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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,404
• − Mortgage interest: −$7,786
• − Property taxes: −$2,085
• − Insurance: −$695
• − Repairs & maintenance: −$1,792
• − Management: −$1,792
• − HOA: −$3,000
• − Depreciation: −$4,044
• Taxable income: $1,209
• Est. tax owed @ 24.0%: −$290
• After-tax cash flow: $2,881/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 75/100 Cosmetic rehab

This move-in-ready condo offers a good condition with minor updates needed to enhance its resale and rental value.

Repairs flagged

• Minor kitchen cabinets — slight wear
• Minor bathroom fixtures — dated design

Value-add opportunities

• Resale update kitchen cabinets — modernizing outdated cabinets
• Resale update bathroom fixtures — modernizing outdated fixtures
• Both paint interior walls — enhances curb appeal and interior aesthetics

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · slight wear	Minor	$500–3,000
bathroom fixtures · dated design	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Resale update kitchen cabinets — modernizing outdated cabinets ↑
• Resale update bathroom fixtures — modernizing outdated fixtures ↑
• Both paint interior walls — enhances curb appeal and interior aesthetics ↑

ⓘ 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: Lake Central School Corporation
• NCES district ID: 1805450
• Math proficiency: 45% ▼ -9.00%
• Reading proficiency: 54% ▼ -11.00%
• Median HH income: $75,957
• Composite: 44.82/100
• National rank: #2736
• State rank: #41 of 301 in IN

Livability — Schererville

• Score: 68/100
• State rank: #226
• US rank: #9897

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Schererville, IN
• County: Lake County · 422,878 people
• City population: 24,188
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 24,188
• Household income: $93,160
• Rent vs Own: 17.0% rent · 83.0% own
• Severe rent burden: 283.0

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 (72%)
• Race & ethnicity: White 72% Hispanic / Latino 13% Two or more races 10% Black 7% Asian 4%
• Hispanic origin (detail): Mexican 11% Puerto Rican 1%
• Common ancestry: Romanian 15% Iranian 4% Italian 1%
• Foreign-born: 10% · Canada, Vietnam, South Korea
• Languages at home: 85% English-only · Spanish 6% Russian/Polish/Slavic 5% Vietnamese 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: ▼ -172.42%
• Current HPI: 204.9394
• 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

1 event — show timeline

• 2026-05-29 Listed $139,000 NIRA MLS as Distributed by MLS Grid