128 Halsted St · Lowell, IN 46356

$175,000

2 bd · 1.0 ba · 1,728 sqft · SingleFamily public records · 165 Days on market

Built 1906 10,454 sqft lot Est $287k · 39% under ↓ 12% since listing

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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
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• Schools +4.5/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this incredibly charming home at just under 1600 square feet it offers an abundance of living space, great storage inside & outside (shed), sizable kitchen, main level laundry, a private deck, and several rooms that could be used for entertaining, or as spare bedrooms. There are many tasteful updates throughout, including tile flooring in the kitchen and bathroom, a wood laminate in the living room, a vinyl plank upstairs, stainless steel appliances, and many more! The kitchen offers great natural lighting, plenty of cabinet space, plus separate access to the rear deck and backyard. The private yard is perfect for the gardening enthusiasts and green thumb experts. This home

Key facts

• Private deck
• Sizable kitchen
• Natural lighting

Tags

• PRIVATE DECK
• SIZABLE KITCHEN
• MAIN LEVEL LAUNDRY
• TILE FLOORING
• STAINLESS STEEL APPLIANCES
• NATURAL LIGHTING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $342 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $154k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.6% vs local median 3.9% in Lowell — 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 76/100 on livability (#51 in IN, #3,455 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Tri-Creek School Corporation (town): math 46% / reading 56% proficiency, ranked #39 of 301 in IN (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 350 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $1k of loan paydown is wiped out by about $5k 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

• It's been on market 165 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $25k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1906 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $154,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 165 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1906 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.37% ✓
• Cap rate: 11.56%
• Cash-on-cash: 18.82%
• DSCR: 1.84
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $286,848
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
128 Halsted St	0.00mi	2/1.0	1,568 (-9%)	0mo	$175,000	$112	84
420 E Main St	0.14mi	3/1.0 (+1)	1,841 (+6%)	4mo	$265,000	$144	74
285 W Commercial Ave	0.41mi	3/1.0 (+1)	1,729 (+0%)	8mo	$197,000	$114	69
124 N Liberty St	0.21mi	3/1.0 (+1)	1,901 (+10%)	1mo	$185,000	$97	68
455 N Nichols St	0.52mi	3/1.5 (+1)	1,717 (-1%)	2mo	$280,000	$163	66
303 Burnham St	0.40mi	3/1.0 (+1)	1,480 (-14%)	1mo	$270,000	$182	52
711 Meadow Brook Dr	0.74mi	3/2.0 (+1)	1,686 (-2%)	2mo	$280,000	$166	51
432 Briarwood Ln	0.70mi	2/1.5	1,596 (-8%)	4mo	$235,000	$147	50
402 Greenbrier Ln	0.69mi	3/2.0 (+1)	1,630 (-6%)	6mo	$277,000	$170	45
409 Greenbrier Ln	0.68mi	3/2.0 (+1)	1,584 (-8%)	8mo	$270,000	$170	39
621 Meadow Brook Dr	0.72mi	3/2.0 (+1)	1,566 (-9%)	7mo	$274,900	$176	36
507 Meadowbrook Dr	0.66mi	3/2.0 (+1)	1,549 (-10%)	9mo	$262,500	$169	36

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: -3.4%
• Equity multiple: 0.87×
• Total profit: $-6,338
• Equity at exit: $26,093

10-year hold

• IRR: 6.4%
• Equity multiple: 1.48×
• Total profit: $23,521
• Equity at exit: $15,131

Cash invested: $49,000 (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 46356

• Home prices YoY: -30.1%
• Active inventory: 350
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $2,398 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$135 /mo · $1,624/yr
• Insurance: −$73
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$504
• Net cashflow: $342

Break-even live

Break-even rent $1,965

Max offer price $175,000

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
510 Creekside Dr Lowell, IN	1.0–2.0	1.0–2.0	962	$1,512	$1.57	1d	7	0.82mi
8301 Kannon Dr Lowell, IN	3.0	2.5	1717	$2,800	$1.63	15d	1	0.90mi
8366 Kannon Dr Lowell, IN	3.0	2.5	1840	$2,550	$1.39	2d	1	0.91mi

Listing history 7 events

1. 2026-03-08
   status Pending
2. 2026-03-03
   status Active
3. 2026-02-22
   status Pending
4. 2026-02-10
   status Active
5. 2026-01-31
   status Pending
6. 2026-01-29
   price $175,000
7. 2025-09-05
   listed $199,900 Active

ⓘ 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: $1,624 · $135/mo
• Projected year-2 tax: $1,624 · $135/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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,775
• − Mortgage interest: −$9,803
• − Property taxes: −$1,624
• − Insurance: −$5,994
• − Repairs & maintenance: −$2,302
• − Management: −$2,302
• − Depreciation: −$5,091
• Taxable income: $1,660
• Est. tax owed @ 24.0%: −$398
• After-tax cash flow: $3,704/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: Tri-Creek School Corporation
• NCES district ID: 1811460
• Math proficiency: 46% ▼ -8.00%
• Reading proficiency: 56% ▼ -5.00%
• Median HH income: $64,614
• Composite: 44.97/100
• National rank: #2704
• State rank: #39 of 301 in IN

Livability — Lowell

• Score: 76/100
• State rank: #51
• US rank: #3455

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lowell, IN
• City population: 19,396
• Population (ZIP): 19,396

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 (88%)
• Race & ethnicity: White 88% Hispanic / Latino 9% Two or more races 6%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Romanian 16% Iranian 10% Lithuanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 4% Russian/Polish/Slavic 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: ▼ -110.73%
• Current HPI: 256.6224
• Rent YoY: —
• Metro: —
• 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

-12.5% since first listed

7 events — show timeline

• 2026-03-08 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-03-03 Relisted — NIRA MLS as Distributed by MLS Grid
• 2026-02-22 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-02-10 Relisted — NIRA MLS as Distributed by MLS Grid
• 2026-01-31 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-01-29 Price Changed $175,000 NIRA MLS as Distributed by MLS Grid
• 2025-09-05 Listed $199,900 NIRA MLS as Distributed by MLS Grid

Property tax history

+7.5%/yr

Latest (2024): $1,624 · +10.3% YoY. Source: county tax records.