3 Bed 2 Bath Single Section Plan

Clarksville, IN 47129

$50,900B

3 bd · 2.0 ba · 1,568 sqft · Built — · Manufactured · Active · 337 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,389/mo
• Mortgage (P&I): −$267
• Tax + insurance: −$85
• HOA: −$0
• Vac / Maint / Mgmt: −$292
• Net cashflow: $745/mo
• Annual: $8,943/yr
• Cap rate: 23.86%
• Cash-on-cash: 62.75%
• DSCR: 3.79
• 1% rule: 2.73%
• Cash to close: $14,252

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $51k. Condition is rated excellent.
• At list price, monthly cash flow is $745 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $51k).
• It's been on market 337 days — a 12% lower offer ($45k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $45k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $352 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#46 in IN, #3,300 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, commute A-; Watch: crime D+, employment D+, amenities D.
• Greater Clark County Schools (suburban): math 26% / reading 37% proficiency, ranked #224 of 301 in IN (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 29 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 47% of comp listings sitting > 30 days — soft ceiling on asking rent; 911 units permitted in Clark County in 2024 (133 in 5+ unit buildings).
• Clark County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 5 sale attempts; this cycle's ask has dropped $35k (41%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 23.9% vs local median 3.5% in Clarksville — 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.

Questions for listing agent

• It's been on market 337 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• Crime grade is D 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?
• 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.
• 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.
• 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.