Most Miserable City in America

[Ashley Kehr]

I recently came across an article stating that Gary, Indiana, has been labeled the most miserable city in America. The article cites factors like a 32.3% poverty rate, a median household income of $31,936, and a significant population decline over the years.

This got me thinking:

• Are these metrics sufficient to brand an entire city as 'miserable'?

• I used BiggerDeals to search a couple deals in Gary, Indiana. This city was also brought to my attention by a recent guest on the podcast who is profitable in this area. Here is an example of one deal I found: 

https://www.biggerpockets.com/listings/1949-mc-kinley-st-gar...

Cashflow: $541

Cash on Cash Return: 25% (with 20% down)

What are your thoughts?

Have you visited or lived in Gary? What's your perspective?

[Jay Hinrichs]

Quote from @Eric Gerakos:

That “cashflow” is paper cashflow. When you consider who your tenants will be, vacancy, evictions, and maintenance that are part of owning property in an undesirable area, the reality can often be negative cashflow.

I have been there its a dead and dying town.. why anyone would invest there is beyond me.. its what happens when industry leaves a town high and dry.  10 years ago you could buy houses there for 500 to 1000.. and thats all they are worth. IMHO..