209 S Anderson St · Sandborn, IN 47578

$29,900

3 bd · 1.0 ba · 960 sqft · Manufactured public records · 62 Days on market

Built 1995 0.28 ac lot $31/sqft · 53% below area ↓ 54% since listing

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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
• Appreciation +9.5/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

INVESTORS!! Great investment property. Excellent rental history. Single 1995 mobile home (16x60) with two bedrooms and two full baths. Gas forced air furnace. Kitchen appliances included. Deck off front door. Nice corner lot with HUGE yard with producing peach trees. Room to build a garage. All city utilities. Immediate possession. SELLER WILL CONSIDER SELLING TRAILER ONLY. PRICED TO SALE!!

Key facts

• Huge yard
• City utilities
• Deck off front door

Tags

• DECK OFF FRONT DOOR
• CORNER LOT
• HUGE YARD
• PRODUCING PEACH TREES
• ROOM TO BUILD A GARAGE
• CITY UTILITIES

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $30k.

Deal economics

• At list price, monthly cash flow is $517 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($952 rent vs $30k).
• Recommended offer: $28k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#409 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B+; Watch: health & safety C-, schools F, amenities F.
• North Knox School Corporation (rural): math 28% / reading 45% proficiency, ranked #186 of 301 in IN (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 2 active listings in the ZIP; 36 units permitted in Knox County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($207 loan paydown + $3k appreciation (9.1% local appreciation)).
• Knox County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (9.1% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($28k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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: property tax is 2.7% of price.

Recommended offer $28,106 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 3.18% ✓
• Cap rate: 27.04%
• Cash-on-cash: 74.10%
• DSCR: 4.30
• GRM: 2.6

CMA / ARV

• ARV (median comp): $63,483
• List price: $29,900
• Delta: -52.90%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
209 S Anderson St	0.00mi	2/2.0 (-1)	960 (0%)	1mo	$26,000	$27	90

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

9.08% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 83.9%
• Equity multiple: 6.66×
• Total profit: $47,388
• Equity at exit: $24,964

10-year hold

• IRR: 79.0%
• Equity multiple: 14.54×
• Total profit: $113,330
• Equity at exit: $51,866

Cash invested: $8,372 (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 47578

• Home prices YoY: 4.5%
• Active inventory: 2
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $952 medium
• Mortgage (P&I): −$157
• Tax from tax record: −$66 /mo · $793/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$200
• Net cashflow: $517

Break-even live

Break-even rent $298

Max offer price $29,900

Occupancy floor 41%

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: $7,475
• Closing costs: $897
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-03-26
   listed $29,900 Active 393-char remark

   Show marketing remark (393 chars)

   INVESTORS!! Great investment property. Excellent rental history. Single 1995 mobile home (16x60) with two bedrooms and two full baths. Gas forced air furnace. Kitchen appliances included. Deck off front door. Nice corner lot with HUGE yard with producing peach trees. Room to build a garage. All city utilities. Immediate possession. SELLER WILL CONSIDER SELLING TRAILER ONLY. PRICED TO SALE!!

2. 2024-09-11
   price $32,500
3. 2024-08-17
   price $49,900
4. 2024-08-11
   listed $65,000 Active

ⓘ 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: $793 · $66/mo
• Projected year-2 tax: $793 · $66/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,427
• − Mortgage interest: −$1,675
• − Property taxes: −$793
• − Insurance: −$150
• − Repairs & maintenance: −$914
• − Management: −$914
• − Depreciation: −$870
• Taxable income: $6,112
• Est. tax owed @ 24.0%: −$1,467
• After-tax cash flow: $4,737/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: North Knox School Corporation
• NCES district ID: 1807830
• Math proficiency: 28% ▼ -11.00%
• Reading proficiency: 45% ▼ -3.00%
• Median HH income: $42,553
• Composite: 30.82/100
• National rank: #6139
• State rank: #186 of 301 in IN

Livability — Sandborn

• Score: 63/100
• State rank: #409
• US rank: #14895

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sandborn, IN
• Population (ZIP): 512

Population outlook (Knox County) Hauer SSP2

• Today (2025): 37,092 people
• By 2030: 36,271 · -2.2%
• By 2040: 34,196 · -7.8%
• By 2050: 32,405 · -12.6%
• By 2075: 28,754 · -22.5%
• By 2100: 24,110 · -35.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Slovak 9% Romanian 1%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Knox

• 2024 margin: Solid R (+50.4) · D 24.0% · R 74.4% · Other 1.6%
• 2008→2024 swing: -43.9pp toward R · 2008: -6.5pp · 2024: -50.4pp
• All cycles: 2024: R+50.4 2020: R+47.4 2016: R+47.2 2012: R+28.9 2008: R+6.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 9.08%
• Current HPI: 209.1647
• 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

-54.0% since first listed

4 events — show timeline

• 2026-03-26 Listed $29,900 IRMLS
• 2024-09-11 Price Changed $32,500 IRMLS
• 2024-08-17 Price Changed $49,900 IRMLS
• 2024-08-11 Listed $65,000 IRMLS

Property tax history

+3.1%/yr

Latest (2024): $793 · +16.0% YoY. Source: county tax records.