7426 Park Pl · Hammond, IN 46324

$330,000

3 bd · 1.0 ba · 1,227 sqft · SingleFamily public records · 3 Days on market

Built 1957 7,840 sqft lot

---

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).

• ARV discount +7.5/15.0
• Cash flow +4.7/30.0
• Rent growth +3.9/5.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Well Maintained BRCK RANCH with 2 Car Garage and Attached Enclosed Room. Inground Sprinkler System. Large Living room, Kitchen offer nice amount of Cabinets, All Appliances Stay! Three Nice size Bedrooms. Full Basement offers Spacious Rec-room. Large Laundry room. GREAT PLACE TO CALL HOME!

Key facts

• Modernized kitchen
• Lower-level adu
• Corner lot

Tags

• BRICK RANCH
• CORNER LOT
• SOUTHMOOR SUBDIVISION
• LOWER-LEVEL ADU
• MODERNIZED KITCHEN
• UPDATED BATHROOM

Property features AI

Exterior

• Parking: Detached garage with alley access and garage facing side; 2 garage spaces
• Security: Carbon monoxide detector(s); Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: One-story home; Built in 1957
• Construction: Brick construction; Asphalt shingle roof; Finished basement
• Exterior features: Front porch; Neighborhood view; Garage(s) on property

Interior

• Kitchen: Built-in gas range; Granite counters; Eat-in kitchen
• Bedrooms: Primary bedroom; Four additional bedrooms (total 5 bedrooms)
• Flooring: Hardwood floors
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (natural gas); Central air conditioning
• Interior features: Eat-in kitchen; Recessed lighting; In-law floorplan; Granite counters; Finished full basement with interior entry and sump pump; Carbon monoxide and smoke detectors
• Laundry & utility: Laundry room on lower level; Washer hookup; Gas dryer hookup; Washer and dryer included

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $330k.

Deal economics

• At list price, monthly cash flow is $-826 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $184k (44.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $156k (52.9% below list).
• Recommended offer: $156k (52.9% below list) — sets the bar for 1% rule.
• Cap rate 3.3% vs local median 5.8% in Hammond — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 70/100 on livability (#143 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, commute A; Watch: health & safety D+, employment D, crime F.
• School City Of Hammond (suburban): math 8% / reading 18% proficiency, ranked #289 of 301 in IN (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Kenwood Elementary School (math 12% / reading 12%, grade F, #893 of 994 statewide, top 91%, 253 students, 71% FRL); Henry W Eggers Middle School (math 5% / reading 17%, grade F, #312 of 330 statewide, top 95%, 855 students, 76% FRL); Hammond Central High School (math 8% / reading 37%, grade F, #339 of 369 statewide, top 93%, 1,863 students, 73% FRL) — zoned schools at 73% FRL track the district average.
• Market conditions: Rents rising fast (+5.5%/yr); 63 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 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 $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 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 3y 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 $218k; list at $330k implies a 52% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $155,584 (52.9% 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. 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?
7. 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.
8. 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.
9. 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: 0.47% ✗
• Cap rate: 3.29%
• Cash-on-cash: -10.73%
• DSCR: 0.52
• GRM: 17.7

CMA / ARV

• ARV (on-the-fly): $214,725
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7741 Hohman Ave	0.42mi	2/1.0 (-1)	1,193 (-3%)	4mo	$230,000	$193	68
17526 Shirley Dr	0.47mi	3/1.5	1,175 (-4%)	3mo	$120,000	$102	66
1678 State Line Rd	0.49mi	3/1.0	1,126 (-8%)	3mo	$158,000	$140	61
7341 Harrison Ave	0.23mi	4/2.0 (+1)	1,365 (+11%)	2mo	$201,995	$148	60
35 166th Pl	0.72mi	4/1.0 (+1)	1,217 (-1%)	1mo	$149,500	$123	60
7613 Monroe Ave	0.46mi	4/1.0 (+1)	1,330 (+8%)	1mo	$196,000	$147	59
7511 Monroe Ave	0.41mi	3/1.0	1,072 (-13%)	3mo	$199,000	$186	58
7607 Monroe Ave	0.45mi	2/1.5 (-1)	1,092 (-11%)	3mo	$179,900	$165	51
3634 178th St	0.59mi	3/2.0	1,350 (+10%)	3mo	$277,000	$205	49
17204 Bernadine St	0.69mi	3/2.0	1,340 (+9%)	1mo	$234,000	$175	48
7840 Monroe Ave	0.66mi	3/1.0	1,379 (+12%)	1mo	$320,000	$232	48
1636 State Line Rd	0.56mi	3/3.0	1,084 (-12%)	2mo	$241,000	$222	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 · 5.51% rent growth · sell at horizon

5-year hold

• IRR: -33.5%
• Equity multiple: -0.11×
• Total profit: $-102,172
• Equity at exit: $49,204

10-year hold

• IRR: -31.2%
• Equity multiple: -0.51×
• Total profit: $-139,782
• Equity at exit: $28,532

Cash invested: $92,400 (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 46324

• Home prices YoY: -9.6%
• Rents YoY: 5.5%
• Active inventory: 63
• Price-to-rent: 17.7×

Monthly cashflow live

• Estimated rent: $1,556 high
• Mortgage (P&I): −$1,731
• Tax from tax record: −$187 /mo · $2,245/yr
• Insurance: −$138
• HOA: −$0
• Vacancy / Maint / Mgmt: −$327
• Net cashflow: $-826

Break-even live

Break-even rent $2,601

Max offer price $184,077

Occupancy floor —

Sensitivity live

Price	-10% $-639	-5% $-733	+0% $-826	+5% $-919	+10% $-1,013
Rent	-10% $-949	-5% $-887	+0% $-826	+5% $-765	+10% $-703
Rate	-1.0pp $-660	-0.5pp $-742	base $-826	+0.5pp $-912	+1.0pp $-999

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: $82,500
• Closing costs: $9,900
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3649 173rd Ct Lansing, IL	2.0	2.0	972	$1,357	$1.40	26d	1	0.36mi
17104 Wentworth Ave Unit 4 Lansing, IL	2.0	1.0	1100	$1,400	$1.27	0d	1	0.69mi
1539 Wentworth Ave Unit 3W Calumet City, IL	3.0	1.0	1100	$1,700	$1.55	14d	1	0.89mi
7234 Columbia Ave Hammond, IN	2.0	1.0	960	$1,300	$1.35	26d	1	1.04mi
7129 Columbia Ave Unit 1E Hammond, IN	2.0	1.0	900	$1,195	$1.33	13d	1	1.12mi
3069 Bernice Rd Apt 2N Lansing, IL	3.0	1.0	950	$1,535	$1.62	22d	1	1.16mi
3069 Bernice Rd Apt 2S Lansing, IL	3.0	1.0	950	$1,535	$1.62	4d	1	1.16mi
3023 Bernice Rd Apt 2S Lansing, IL	3.0	1.0	1000	$1,600	$1.60	0d	1	1.22mi
3023 Bernice Rd Unit 3030 3N Lansing, IL	3.0	1.0	1000	$1,400	$1.40	0d	1	1.22mi
3007 Bernice Rd Unit 3007 1S Lansing, IL	2.0	1.0	850	$1,400	$1.65	0d	1	1.24mi
3020 178th St Unit C1 Lansing, IL	2.0	1.0	900	$1,550	$1.72	0d	1	1.30mi
3020 178th St Apt C7 Lansing, IL	2.0	1.0	900	$1,550	$1.72	26d	1	1.30mi
18335 Sherman St Unit 3 Lansing, IL	3.0	1.0	1000	$1,700	$1.70	0d	1	1.33mi
1338 Wentworth Ave Unit 1338 Calumet City, IL	2.0	1.0	800	$1,430	$1.79	26d	1	1.34mi
7609 Beech Ave Hammond, IN	2.0	1.0	700	$1,400	$2.00	5d	1	1.37mi
7019 Chestnut Ave Hammond, IN	3.0	1.5	1440	$1,895	$1.32	22d	1	1.40mi
407 Kenwood St Hammond, IN	2.0	1.0	920	$1,495	$1.62	26d	1	1.48mi
407 Kenwood St Hammond, IN	2.0	1.0	920	$1,495	$1.62	18d	1	1.48mi

Listing history 4 events

1. 2026-05-23
   listed $330,000 Active
2. 2023-07-07
   soldstatus $217,500 Closed 290-char remark

   Show marketing remark (290 chars)

   Well Maintained BRCK RANCH with 2 Car Garage and Attached Enclosed Room. Inground Sprinkler System. Large Living room, Kitchen offer nice amount of Cabinets, All Appliances Stay! Three Nice size Bedrooms. Full Basement offers Spacious Rec-room. Large Laundry room. GREAT PLACE TO CALL HOME!

3. 2023-06-15
   status Pending 290-char remark

   Show marketing remark (290 chars)

   Well Maintained BRCK RANCH with 2 Car Garage and Attached Enclosed Room. Inground Sprinkler System. Large Living room, Kitchen offer nice amount of Cabinets, All Appliances Stay! Three Nice size Bedrooms. Full Basement offers Spacious Rec-room. Large Laundry room. GREAT PLACE TO CALL HOME!

4. 2023-06-09
   listed $219,900 Active 290-char remark

   Show marketing remark (290 chars)

   Well Maintained BRCK RANCH with 2 Car Garage and Attached Enclosed Room. Inground Sprinkler System. Large Living room, Kitchen offer nice amount of Cabinets, All Appliances Stay! Three Nice size Bedrooms. Full Basement offers Spacious Rec-room. Large Laundry room. GREAT PLACE TO CALL HOME!

ⓘ 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: $2,245 · $187/mo
• Projected year-2 tax: $2,525 · $210/mo
• Expected delta: +$280/yr (+$23/mo · 12.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (shaded) · 22% 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: $18,670
• − Mortgage interest: −$18,485
• − Property taxes: −$2,245
• − Insurance: −$1,650
• − Repairs & maintenance: −$1,494
• − Management: −$1,494
• − Depreciation: −$9,600
• Taxable loss: −$16,297
• Est. tax savings @ 24.0%: +$3,911
• After-tax cash flow: $-6,001/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 City Of Hammond
• NCES district ID: 1804320
• Math proficiency: 8% ▼ -18.00%
• Reading proficiency: 18% ▼ -15.00%
• Median HH income: $39,970
• Composite: 11.11/100
• National rank: #9730
• State rank: #289 of 301 in IN

Livability — Hammond

• Score: 70/100
• State rank: #143
• US rank: #7343

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hammond, IN
• County: Lake County · 422,878 people
• City population: 58,809
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 21,409
• Household income: $63,052
• Rent vs Own: 32.0% rent · 68.0% own
• Severe rent burden: 507.0

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: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: Hispanic / Latino 39% White 34% Black 22% Two or more races 14% Asian 1% Native American 1%
• Hispanic origin (detail): Mexican 31% Puerto Rican 5%
• Common ancestry: Romanian 5% Lithuanian 1% Italian 1%
• Foreign-born: 10% · Canada
• Languages at home: 79% English-only · Spanish 20%

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: ▼ -37.65%
• Current HPI: 352.8678
• Rent YoY: ▲ 5.51%
• 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

+50.1% since first listed

4 events — show timeline

• 2026-05-23 Listed $330,000 NIRA MLS as Distributed by MLS Grid
• 2023-07-07 Sold (MLS) $217,500 NIRA MLS as Distributed by MLS Grid
• 2023-06-15 Pending — NIRA MLS as Distributed by MLS Grid
• 2023-06-09 Listed $219,900 NIRA MLS as Distributed by MLS Grid

Property tax history

+2.1%/yr

Latest (2024): $2,245 · -7.3% YoY. Source: county tax records.