731 Mccool Rd · South Haven, IN 46385

$285,000

4 bd · 2.5 ba · 1,800 sqft · SingleFamily public records · 4 Days on market

Built 1963 0.37 ac lot Est $232k · 23% 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 +11.5/30.0
• Livability +3.6/5.0
• DSCR +3.4/10.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Completely remodeled 4-bedroom, 2-story home with a bonus room situated on a spacious oversized lot of more than 1/3 acre. This move-in ready home offers a flexible floor plan with two separate living areas, providing plenty of space for entertaining, working from home, or everyday living. The stunning kitchen has been fully updated with new cabinetry, quartz countertops, and modern finishes. Recent renovations throughout the home include new interior doors, trim, paint, flooring, light fixtures, and more, creating a fresh, modern feel from top to bottom. Major mechanical and structural updates provide peace of mind, including a brand-new furnace, central air conditioner, water heater, and

Key facts

• Flexible floor plan
• Bonus room
• New cabinetry

Tags

• REMODELED HOME
• BONUS ROOM
• FLEXIBLE FLOOR PLAN
• TWO SEPARATE LIVING AREAS
• STUNNING KITCHEN
• NEW CABINETRY

Property features AI

Exterior

• Parking: 2-car garage
• Utilities: Public water; Public sewer
• Home design: Two-story property; Built in 1963
• Exterior features: Neighborhood view; Crawl space basement

Interior

• Kitchen: Dishwasher; Microwave
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3; Bedroom 4
• Flooring: Vinyl flooring
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Stone counters; Bonus room; Living room; Dining room; Den

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $285k.

Deal economics

• At list price, monthly cash flow is $-96 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $268k (5.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $204k (28.5% below list).
• Recommended offer: $204k (28.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 72/100 on livability (#119 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: amenities F, commute F.
• Portage Township Schools (suburban): math 26% / reading 36% proficiency, ranked #221 of 301 in IN (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 375 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 542 units permitted in Porter County in 2024 (0 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 $9k of value loss. Plan a longer hold.
• Porter County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 22y 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.

Recommended offer $203,836 (28.5% 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 1963 — 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: 0.72% ✗
• Cap rate: 5.89%
• Cash-on-cash: -1.44%
• DSCR: 0.94
• GRM: 11.7

CMA / ARV

• ARV (on-the-fly): $232,200
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
392 Stonehill Dr	0.16mi	4/2.0	1,872 (+4%)	4mo	$225,000	$120	81
717 Mccool Rd	0.18mi	4/2.5	1,690 (-6%)	8mo	$259,000	$153	75
382 Pinewood Dr	0.26mi	4/2.0	1,912 (+6%)	1mo	$285,000	$149	75
734 1 Juniper Rd	0.34mi	4/2.0	1,920 (+7%)	3mo	$210,000	$109	69
373 W Millport Dr	0.26mi	3/1.5 (-1)	1,664 (-8%)	2mo	$215,000	$129	65
723 Fox River Rd	0.62mi	4/2.0	1,872 (+4%)	2mo	$251,000	$134	61
753 Imperial Rd	0.49mi	4/2.0	1,920 (+7%)	5mo	$226,000	$118	60
695 Cross Meadows Dr	0.40mi	4/3.0	2,000 (+11%)	2mo	$360,000	$180	59
388 Sycamore Dr	0.33mi	3/2.5 (-1)	2,000 (+11%)	6mo	$265,000	$133	56
765 Governor Rd	0.64mi	4/2.0	1,920 (+7%)	2mo	$239,900	$125	55
772 Imperial Rd	0.55mi	4/1.0	1,920 (+7%)	8mo	$155,000	$81	51
722 Devonshire Rd	0.72mi	4/2.0	1,920 (+7%)	8mo	$248,000	$129	47

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: -18.7%
• Equity multiple: 0.34×
• Total profit: $-52,397
• Equity at exit: $42,494

10-year hold

• IRR: -11.3%
• Equity multiple: 0.32×
• Total profit: $-53,992
• Equity at exit: $24,642

Cash invested: $79,800 (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 46385

• Active inventory: 375
• Price-to-rent: 11.7×

Monthly cashflow live

• Estimated rent: $2,038 medium
• Mortgage (P&I): −$1,495
• Tax from tax record: −$92 /mo · $1,110/yr
• Insurance: −$119
• HOA: −$0
• Vacancy / Maint / Mgmt: −$428
• Net cashflow: $-96

Break-even live

Break-even rent $2,159

Max offer price $268,128

Occupancy floor 100%

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: $71,250
• Closing costs: $8,550
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
397 Plymouth Rd Unit B Valparaiso, IN	3.0	2.0	1300	$1,795	$1.38	43d	1	0.56mi

Listing history 3 events

1. 2026-06-02
   statusdays on market $285,000 Pending 4 DOM
2. 2026-06-01
   days on market $285,000 Active 3 DOM
3. 2026-05-31
   days on market $285,000 Active 2 DOM

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

Tax reassessment forecast IN · Partial reset (capped growth)

• Current annual tax: $1,110 · $92/mo
• Projected year-2 tax: $1,766 · $147/mo
• Expected delta: +$656/yr (+$55/mo · 59.1%)

ⓘ 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 ≥102°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 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,460
• − Mortgage interest: −$15,964
• − Property taxes: −$1,110
• − Insurance: −$1,425
• − Repairs & maintenance: −$1,957
• − Management: −$1,957
• − Depreciation: −$8,291
• Taxable loss: −$6,244
• Est. tax savings @ 24.0%: +$1,498
• After-tax cash flow: $352/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: Portage Township Schools
• NCES district ID: 1809150
• Math proficiency: 26% ▼ -15.00%
• Reading proficiency: 36% ▼ -10.00%
• Median HH income: $53,880
• Composite: 27.37/100
• National rank: #6978
• State rank: #221 of 301 in IN

Livability — South Haven

• Score: 72/100
• State rank: #119
• US rank: #6424

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Haven, IN
• County: Porter County · 151,647 people
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 40,856
• Household income: $98,957
• Rent vs Own: 13.4% rent · 86.6% own
• Severe rent burden: 304.0

Population outlook (Porter County) Hauer SSP2

• Today (2025): 177,804 people
• By 2030: 181,552 · +2.1%
• By 2040: 185,830 · +4.5%
• By 2050: 187,498 · +5.5%
• By 2075: 189,585 · +6.6%
• By 2100: 183,722 · +3.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 9% Two or more races 7% Black 2% Asian 2%
• Hispanic origin (detail): Mexican 6% Puerto Rican 2%
• Common ancestry: Romanian 9% Italian 2% Lithuanian 2%
• Foreign-born: 3% · Canada, Philippines
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Porter

• 2024 margin: R (+10.5) · D 43.8% · R 54.3% · Other 1.8%
• 2008→2024 swing: -17.7pp toward R · 2008: 7.2pp · 2024: -10.5pp
• All cycles: 2024: R+10.5 2020: R+6.1 2016: R+6.8 2012: D+3.8 2008: D+7.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -151.11%
• Current HPI: 201.7039
• 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

+161.5% since first listed

5 events — show timeline

• 2026-05-29 Listed $285,000 NIRA MLS as Distributed by MLS Grid
• 2006-03-03 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2005-01-24 Listed $109,000 NIRA MLS as Distributed by MLS Grid
• 2004-12-11 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2004-06-10 Listed $109,000 NIRA MLS as Distributed by MLS Grid

Property tax history

+1.3%/yr

Latest (2024): $1,110 · -3.3% YoY. Source: county tax records.