407 Tennessee Walking Ln · Brooksburg, IN 40045

$189,900

3 bd · 3.0 ba · 1,584 sqft · Manufactured public records · 4 Days on market

Built 2003 17 ac lot

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Why this score? — see what drove the D 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 +12.5/30.0
• ARV discount +7.5/15.0
• Appreciation +5.1/10.0
• DSCR +3.7/10.0
• 1% rule +3.6/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0

Listing remarks

Tucked away across the creek and surrounded by peaceful woods, 3-bedroom home in Milton. Inside, you'll find durable vinyl plank flooring, spacious walk-in closets in every bedroom, and the comfort of both an electric furnace and a wood-burning furnace for efficient year-round heating. Step outside to enjoy the covered rear porch, complete with an attached lean-to for convenient dry wood storage. A standout feature of the property is the impressive 30x50 detached garage with concrete floors, electric, frost-free hydrant, and 12-foot ceilings — large enough to accommodate a dump truck, making it ideal for equipment storage, hobbies, or a workshop. Looking for even more acreage? An addi

Key facts

• Walk-in closets
• Vinyl plank flooring
• Concrete floors

Tags

• VINYL PLANK FLOORING
• WALK-IN CLOSETS
• COVERED REAR PORCH
• DETACHED GARAGE
• CONCRETE FLOORS
• ELECTRIC FROST-FREE HYDRANT

Property features AI

Finance

• HOA & community: No association fee

Exterior

• Parking: Detached garage and driveway; Two garage spaces
• Utilities: Electricity connected
• Home design: Residential ranch-style home; Single-story (1 story); Built in 2003
• Construction: Vinyl siding construction; Metal roof; Crawl space foundation
• Exterior features: Property includes easement; Located on a dead-end road; Wooded parcel

Interior

• Kitchen: Kitchen on the first floor; Dining area adjacent to the kitchen
• Bedrooms: Three bedrooms (all on the first floor); Primary bedroom on the first floor
• Bathrooms: Three full bathrooms (primary and full bathrooms located on the first floor)
• Interior features: Seven total rooms; Three closets; No basement; Great room; Dining area
• Laundry & utility: First-floor laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath manufactured listed at $190k.

Deal economics

• At list price, monthly cash flow is $-93 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $176k (7.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $163k (14.3% below list).
• Recommended offer: $163k (14.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 57/100 on livability (#611 in IN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: employment D+, crime D, health & safety D.
• Carroll County (town): math 12% / reading 23% proficiency, ranked #163 of 165 in KY (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 3 units permitted in Carroll County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($1k loan paydown + $463 appreciation (0.2% local appreciation)).
• Carroll County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $100k; list at $190k implies a 90% gain — meaningful room to come down on a strong offer.

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 $162,778 (14.3% 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 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?
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: 0.86% ✗
• Cap rate: 6.13%
• Cash-on-cash: -0.60%
• DSCR: 0.97
• GRM: 9.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.24% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -3.6%
• Equity multiple: 0.83×
• Total profit: $-9,218
• Equity at exit: $57,467

10-year hold

• IRR: 2.0%
• Equity multiple: 1.23×
• Total profit: $12,032
• Equity at exit: $70,963

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 40045

• Home prices YoY: 0.1%
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,628 medium
• Mortgage (P&I): −$996
• Tax est. 1.5%: −$237 /mo · $2,848/yr
• Insurance: −$79
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$342
• Net cashflow: $-93

Break-even live

Break-even rent $1,745

Max offer price $176,462

Occupancy floor —

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: —

Listing history 2 events

1. 2026-05-18
   listed $189,900 Active
2. 2014-10-16
   soldstatus $100,000

ⓘ 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 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥104°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,533
• − Mortgage interest: −$10,637
• − Property taxes: −$2,848
• − Insurance: −$1,747
• − Repairs & maintenance: −$1,563
• − Management: −$1,563
• − Depreciation: −$5,524
• Taxable loss: −$4,349
• Est. tax savings @ 24.0%: +$1,044
• After-tax cash flow: $-71/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: Carroll County
• NCES district ID: 2100990
• Math proficiency: 12% ▼ -14.00%
• Reading proficiency: 23% ▼ -15.00%
• Median HH income: $41,646
• Composite: 15.0/100
• National rank: #9361
• State rank: #163 of 165 in KY

Livability — Brooksburg

• Score: 57/100
• State rank: #611
• US rank: #22020

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 3,118

Population outlook (Carroll County) Hauer SSP2

• Today (2025): 10,359 people
• By 2030: 10,058 · -2.9%
• By 2040: 9,465 · -8.6%
• By 2050: 8,788 · -15.2%
• By 2075: 7,079 · -31.7%
• By 2100: 5,066 · -51.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 5% Two or more races 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Slovak 5% Serbian 2% Iranian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1% Other Indo-European 1%

Political lean MEDSL · Carroll

• 2024 margin: Solid R (+51.0) · D 23.9% · R 74.9% · Other 1.2%
• 2008→2024 swing: -42.7pp toward R · 2008: -8.2pp · 2024: -51.0pp
• All cycles: 2024: R+51.0 2020: R+44.4 2016: R+38.5 2012: R+10.1 2008: R+8.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.24%
• Current HPI: 186.5524
• Rent YoY: —
• Metro: —
• 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

+89.9% since first listed

2 events — show timeline

• 2026-05-18 Listed $189,900 Metro Search MLS
• 2014-10-16 Sold (Public Records) $100,000 Public Records

Property tax history

-6.7%/yr

Latest (2025): $309 · -8.7% YoY. Source: county tax records.