Champion Prime Plan · Michigan City, IN 46360

$74,900

3 bd · 2.0 ba · 1,173 sqft · Manufactured · 346 Days on market

Good condition

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.9/5.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Dunewood Village is located in Michigan City, Indiana, just under 60 miles from downtown Chicago, offering a great combination of small-town appeal and easy access to the city. Situated in the Michiana region, Michigan City is well-known for its proximity to Indiana Dunes National Park, offering a variety of outdoor recreational activities. The area is also appreciated for its strong sense of community and convenient access to both local and regional amenities.

Key facts

• Listed 346 days

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $75k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $674 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.
• Cap rate 17.1% vs local median 3.0% in Michigan City — 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 81/100 on livability (#15 in IN, #1,317 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: employment D, amenities D-.
• Michigan City Area Schools (urban): math 23% / reading 28% proficiency, ranked #262 of 301 in IN (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Springfield Elementary School (math 27% / reading 32%, grade F, #697 of 994 statewide, top 73%, 345 students, 78% FRL); Martin T Krueger Middle School (math 14% / reading 17%, grade F, #293 of 330 statewide, top 90%, 333 students, 84% FRL); Michigan City High School (math 17% / reading 37%, grade F, #315 of 369 statewide, top 86%, 1,555 students, 71% FRL).
• Market conditions: Rents rising fast (+9.7%/yr); 377 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 216 units permitted in LaPorte County in 2024 (75 in 5+ unit buildings).
• This rent runs 31% of the median local income ($59k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $518 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• LaPorte County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 346 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.

Recommended offer $65,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 346 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 2.01% ✓
• Cap rate: 17.09%
• Cash-on-cash: 38.56%
• DSCR: 2.72
• GRM: 4.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 40.3%
• Equity multiple: 2.85×
• Total profit: $38,774
• Equity at exit: $11,168

10-year hold

• IRR: 49.0%
• Equity multiple: 6.98×
• Total profit: $125,397
• Equity at exit: $6,476

Cash invested: $20,972 (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 46360

• Rents YoY: 9.7%
• Active inventory: 377
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,508 medium
• Mortgage (P&I): −$393
• Tax est. 1.5%: −$94 /mo · $1,124/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$317
• Net cashflow: $674

Break-even live

Break-even rent $655

Max offer price $74,900

Occupancy floor 50%

Sensitivity live

Price	-10% $726	-5% $700	+0% $674	+5% $648	+10% $622
Rent	-10% $555	-5% $614	+0% $674	+5% $733	+10% $793
Rate	-1.0pp $712	-0.5pp $693	base $674	+0.5pp $654	+1.0pp $635

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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1000 Long Beach Ln Michigan City, IN	1.0–3.0	1.0–2.0	1121	$1,735	$1.55	45d	1	1.41mi

Listing history 17 events

1. 2026-06-21
   days on market $74,900 Active 346 DOM
2. 2026-06-18
   days on market $74,900 Active 343 DOM
3. 2026-06-17
   days on market $74,900 Active 342 DOM
4. 2026-06-16
   days on market $74,900 Active 341 DOM
5. 2026-06-15
   days on market $74,900 Active 340 DOM
6. 2026-06-14
   days on market $74,900 Active 338 DOM
7. 2026-06-13
   days on market $74,900 Active 337 DOM
8. 2026-06-10
   days on market $74,900 Active 335 DOM
9. 2026-06-09
   days on market $74,900 Active 334 DOM
10. 2026-06-08
    days on market $74,900 Active 333 DOM
11. 2026-06-07
    days on market $74,900 Active 332 DOM
12. 2026-06-03
    days on market $74,900 Active 328 DOM
13. 2026-06-02
    days on market $74,900 Active 327 DOM
14. 2026-06-01
    days on market $74,900 Active 326 DOM
15. 2026-05-31
    days on market $74,900 Active 325 DOM
16. 2026-05-30
    days on market $74,900 Active 324 DOM
17. 2025-07-10
    listed $74,900 Active 465-char remark

    Show marketing remark (465 chars)

    Dunewood Village is located in Michigan City, Indiana, just under 60 miles from downtown Chicago, offering a great combination of small-town appeal and easy access to the city. Situated in the Michiana region, Michigan City is well-known for its proximity to Indiana Dunes National Park, offering a variety of outdoor recreational activities. The area is also appreciated for its strong sense of community and convenient access to both local and regional amenities.

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

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 ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,098
• − Mortgage interest: −$4,196
• − Property taxes: −$1,124
• − Insurance: −$374
• − Repairs & maintenance: −$1,448
• − Management: −$1,448
• − Depreciation: −$2,179
• Taxable income: $7,330
• Est. tax owed @ 24.0%: −$1,759
• After-tax cash flow: $6,327/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.

Condition & rehab AI · 8 photos

Good 80/100 Cosmetic rehab

This manufactured home is in good condition with a well-maintained exterior and interior. It is ready for a fresh coat of paint to enhance its curb appeal and value.

Value-add opportunities

• Resale Paint exterior — A fresh coat of paint can significantly enhance the curb appeal and value of the home.
• Rental Clean gutters — Clean gutters improve drainage and prevent water damage, which is important for rental properties.

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior — A fresh coat of paint can significantly enhance the curb appeal and value of the home. ↑
• Rental Clean gutters — Clean gutters improve drainage and prevent water damage, which is important for rental properties. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Michigan City Area Schools
• NCES district ID: 1806570
• Math proficiency: 23% ▼ -16.00%
• Reading proficiency: 28% ▼ -10.00%
• Median HH income: $42,629
• Composite: 21.76/100
• National rank: #8257
• State rank: #262 of 301 in IN

Livability — Michigan City

• Score: 81/100
• State rank: #15
• US rank: #1317

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Michigan City, IN
• County: La Porte County · 88,580 people
• City population: 43,817
• Metro: Michigan City-La Porte, IN
• Population (ZIP): 43,817
• Household income: $59,266
• Rent vs Own: 31.8% rent · 68.2% own
• Severe rent burden: 1152.0

Population outlook (LaPorte County) Hauer SSP2

• Today (2025): 109,757 people
• By 2030: 108,288 · -1.3%
• By 2040: 105,070 · -4.3%
• By 2050: 102,330 · -6.8%
• By 2075: 97,009 · -11.6%
• By 2100: 86,459 · -21.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Black 20% Hispanic / Latino 8% Two or more races 7%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Romanian 11% Lithuanian 2% Iranian 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3%

Political lean MEDSL · LaPorte

• 2024 margin: R (+14.1) · D 42.1% · R 56.2% · Other 1.7%
• 2008→2024 swing: -19.1pp toward R · 2008: 5.0pp · 2024: -14.1pp
• All cycles: 2024: R+14.1 2020: R+7.2 2016: R+6.4 2012: D+12.6 2008: D+5.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -210.27%
• Current HPI: 206.0882
• Rent YoY: ▲ 9.72%
• Metro: Michigan City-La Porte, IN
• 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

1 event — show timeline

• 2025-07-10 Listed $74,900 Zillow