83 Ravine Ct · Cicero, IN 46034

$189,900

3 bd · 1.5 ba · 896 sqft · Manufactured public records · 22 Days on market

Built 1980 7,841 sqft lot

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Why this score? — see what drove the C- 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 +20.8/30.0
• ARV discount +7.5/15.0
• DSCR +6.6/10.0
• 1% rule +4.2/10.0
• Livability +3.4/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for a cozy, modernized home with plenty of style and charm? Look no further! This stunning two-bedroom, two-bathroom home has undergone a complete remodel and is move-in ready! Open-concept complete with fresh modern touches, spacious master ensuite, and top notch kitchen. Enjoy the large deck, perfect for outdoor activities, entertainment or dining as well as a nice sized mini barn for storage needs. Everything is is brand new! This home is situated in a quiet cul de sac with park like setting, just steps from Morse Reservoir! With all the modern amenities and charm you could ask for, this is the definition of affordable/modern living. This home won't last long! Schedule your showing today!

Key facts

• Large shaded deck
• Open concept space
• Two parking areas

Tags

• OPEN CONCEPT SPACE
• MODERN KITCHEN
• LARGE SHADED DECK
• TWO PARKING AREAS
• WALK-IN SHOWER
• DEDICATED LAUNDRY AREA

Property features AI

Finance

• Other: Approximately 0.18-acre lot

Exterior

• Utilities: Public water; Municipal sewer; Electricity connected (100 amp service); Sewer and water connected
• Home design: Manufactured home; Updated/remodeled condition; One level; North-facing
• Construction: Vinyl siding; Other foundation
• Exterior features: Deck; No fence

Interior

• Kitchen: Dishwasher; Electric oven; Range hood; Refrigerator; Garbage disposal
• Bedrooms: 2 bedrooms (both on the main level)
• Bathrooms: 2 full bathrooms; Primary bathroom with tub and shower
• Heating & cooling: Electric forced-air heating; Central air conditioning
• Interior features: Eat-in kitchen; Primary bedroom opens to a deck
• Laundry & utility: Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath manufactured listed at $190k.

Deal economics

• At list price, monthly cash flow is $193 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $174k (8.4% below list).
• Recommended offer: $174k (8.4% below list) — sets the bar for 1% rule.
• Cap rate 7.9% vs local median 2.9% in Cicero — 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 67/100 on livability (#242 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Hamilton Heights School Corporation (suburban): math 31% / reading 44% proficiency, ranked #154 of 301 in IN (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hamilton Heights Elementary School (math 40% / reading 39%, grade F, #500 of 994 statewide, top 53%, 901 students, 33% FRL); Hamilton Heights High School (math 32% / reading 67%, grade D, #123 of 369 statewide, top 36%, 711 students, 31% FRL).
• Market conditions: 69 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 4,661 units permitted in Hamilton County in 2024 (1,528 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 $6k of value loss. Plan a longer hold.
• Hamilton County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $173,989 (8.4% below list)

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.92% ✗
• Cap rate: 7.93%
• Cash-on-cash: 5.86%
• DSCR: 1.26
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $111,104
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15 Morse Ct	0.17mi	2/1.0 (-1)	840 (-6%)	2mo	$69,000	$82	73
18 Morse Ct	0.15mi	3/2.0	924 (+3%)	20mo	$115,000	$124	69

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: -9.5%
• Equity multiple: 0.65×
• Total profit: $-18,521
• Equity at exit: $28,315

10-year hold

• IRR: -0.1%
• Equity multiple: 0.99×
• Total profit: $-504
• Equity at exit: $16,419

Cash invested: $53,172 (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 46034

• Active inventory: 69
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,740 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$40 /mo · $478/yr
• Insurance: −$79
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$365
• Net cashflow: $193

Break-even live

Break-even rent $1,495

Max offer price $189,900

Occupancy floor 84%

Sensitivity live

Price	-10% $301	-5% $247	+0% $193	+5% $139	+10% $86
Rent	-10% $56	-5% $124	+0% $193	+5% $262	+10% $331
Rate	-1.0pp $289	-0.5pp $241	base $193	+0.5pp $144	+1.0pp $94

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
679 Main St Unit C Cicero, IN	2.0	1.0	860	$1,250	$1.45	24d	1	0.83mi

Listing history 24 events

1. 2026-06-18
   days on market $189,900 Active 22 DOM
2. 2026-06-17
   days on market $189,900 Active 21 DOM
3. 2026-06-16
   days on market $189,900 Active 20 DOM
4. 2026-06-15
   days on market $189,900 Active 19 DOM
5. 2026-06-13
   days on market $189,900 Active 17 DOM
6. 2026-06-13
   days on market $189,900 Active 16 DOM
7. 2026-06-09
   days on market $189,900 Active 13 DOM
8. 2026-06-08
   days on market $189,900 Active 12 DOM
9. 2026-06-07
   days on market $189,900 Active 11 DOM
10. 2026-06-05
    days on market $189,900 Active 8 DOM
11. 2026-06-03
    days on market $189,900 Active 7 DOM
12. 2026-06-02
    days on market $189,900 Active 6 DOM
13. 2026-06-01
    days on market $189,900 Active 5 DOM
14. 2026-05-31
    days on market $189,900 Active 4 DOM
15. 2026-05-27
    listed $189,900 Active
16. 2023-05-19
    soldstatus $200,000
17. 2023-05-12
    soldstatus $200,000 Closed 708-char remark

    Show marketing remark (708 chars)

    Looking for a cozy, modernized home with plenty of style and charm? Look no further! This stunning two-bedroom, two-bathroom home has undergone a complete remodel and is move-in ready! Open-concept complete with fresh modern touches, spacious master ensuite, and top notch kitchen. Enjoy the large deck, perfect for outdoor activities, entertainment or dining as well as a nice sized mini barn for storage needs. Everything is is brand new! This home is situated in a quiet cul de sac with park like setting, just steps from Morse Reservoir! With all the modern amenities and charm you could ask for, this is the definition of affordable/modern living. This home won't last long! Schedule your showing today!

18. 2023-04-12
    status Pending 708-char remark

    Show marketing remark (708 chars)

    Looking for a cozy, modernized home with plenty of style and charm? Look no further! This stunning two-bedroom, two-bathroom home has undergone a complete remodel and is move-in ready! Open-concept complete with fresh modern touches, spacious master ensuite, and top notch kitchen. Enjoy the large deck, perfect for outdoor activities, entertainment or dining as well as a nice sized mini barn for storage needs. Everything is is brand new! This home is situated in a quiet cul de sac with park like setting, just steps from Morse Reservoir! With all the modern amenities and charm you could ask for, this is the definition of affordable/modern living. This home won't last long! Schedule your showing today!

19. 2023-03-26
    listed $229,900 Active 708-char remark

    Show marketing remark (708 chars)

    Looking for a cozy, modernized home with plenty of style and charm? Look no further! This stunning two-bedroom, two-bathroom home has undergone a complete remodel and is move-in ready! Open-concept complete with fresh modern touches, spacious master ensuite, and top notch kitchen. Enjoy the large deck, perfect for outdoor activities, entertainment or dining as well as a nice sized mini barn for storage needs. Everything is is brand new! This home is situated in a quiet cul de sac with park like setting, just steps from Morse Reservoir! With all the modern amenities and charm you could ask for, this is the definition of affordable/modern living. This home won't last long! Schedule your showing today!

20. 2022-12-02
    soldstatus $38,000
21. 2022-11-23
    soldstatus $38,000 Closed 328-char remark

    Show marketing remark (328 chars)

    This is a as is property for your investors. Needs to be gutted, but the potential is here for the right investor. The property extends from Ravine CT to Timberline. I am told you can park on both ends of the property if needed. Shed goes with the property. Hidden Bay community has a clubhouse and playground, and snow removal.

22. 2022-11-21
    soldstatus $11,900
23. 2022-11-14
    status Pending 328-char remark

    Show marketing remark (328 chars)

    This is a as is property for your investors. Needs to be gutted, but the potential is here for the right investor. The property extends from Ravine CT to Timberline. I am told you can park on both ends of the property if needed. Shed goes with the property. Hidden Bay community has a clubhouse and playground, and snow removal.

24. 2022-11-11
    listed $34,900 Active 328-char remark

    Show marketing remark (328 chars)

    This is a as is property for your investors. Needs to be gutted, but the potential is here for the right investor. The property extends from Ravine CT to Timberline. I am told you can park on both ends of the property if needed. Shed goes with the property. Hidden Bay community has a clubhouse and playground, and snow removal.

ⓘ 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: $478 · $40/mo
• Projected year-2 tax: $1,046 · $87/mo
• Expected delta: +$568/yr (+$47/mo · 118.7%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,879
• − Mortgage interest: −$10,637
• − Property taxes: −$478
• − Insurance: −$1,747
• − Repairs & maintenance: −$1,670
• − Management: −$1,670
• − Depreciation: −$5,524
• Taxable loss: −$849
• Est. tax savings @ 24.0%: +$204
• After-tax cash flow: $2,522/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: Hamilton Heights School Corporation
• NCES district ID: 1804260
• Math proficiency: 31% ▼ -15.00%
• Reading proficiency: 44% ▼ -10.00%
• Median HH income: $60,360
• Composite: 33.37/100
• National rank: #5481
• State rank: #154 of 301 in IN

Livability — Cicero

• Score: 67/100
• State rank: #242
• US rank: #10345

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cicero, IN
• County: Hamilton County · 337,479 people
• City population: 7,531
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 7,531
• Household income: $91,466
• Rent vs Own: 12.1% rent · 87.9% own
• Severe rent burden: 188.0

Population outlook (Hamilton County) Hauer SSP2

• Today (2025): 381,938 people
• By 2030: 417,496 · +9.3%
• By 2040: 486,684 · +27.4%
• By 2050: 549,805 · +44.0%
• By 2075: 687,078 · +79.9%
• By 2100: 754,495 · +97.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 2%
• Common ancestry: Slovak 3% Iranian 3% Romanian 2%
• Foreign-born: 1% · Canada, Vietnam
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Hamilton

• 2024 margin: Lean R (+6.1) · D 46.0% · R 52.1% · Other 1.9%
• 2008→2024 swing: +16.2pp toward D · 2008: -22.2pp · 2024: -6.1pp
• All cycles: 2024: R+6.1 2020: R+6.8 2016: R+19.6 2012: R+34.3 2008: R+22.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -150.85%
• Current HPI: 243.572
• Rent YoY: —
• Metro: Indianapolis-Carmel-Anderson, 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

+444.1% since first listed

10 events — show timeline

• 2026-05-27 Listed $189,900 MIBOR as Distributed by MLS Grid
• 2023-05-19 Sold (Public Records) $200,000 Public Records
• 2023-05-12 Sold (MLS) $200,000 MIBOR as Distributed by MLS Grid
• 2023-04-12 Pending — MIBOR as Distributed by MLS Grid
• 2023-03-26 Listed $229,900 MIBOR as Distributed by MLS Grid
• 2022-12-02 Sold (Public Records) $38,000 Public Records
• 2022-11-23 Sold (MLS) $38,000 MIBOR as Distributed by MLS Grid
• 2022-11-21 Sold (Public Records) $11,900 Public Records
• 2022-11-14 Pending — MIBOR as Distributed by MLS Grid
• 2022-11-11 Listed $34,900 MIBOR as Distributed by MLS Grid

Property tax history

+2.5%/yr

Latest (2025): $478 · +223.4% YoY. Source: county tax records.