350 S Main St · Macy, IN 46951

$100,000

3 bd · 2.0 ba · 980 sqft · Manufactured public records · 48 Days on market

Built 1986 Good condition 0.40 ac lot ↓ 17% since listing

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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 +19.3/30.0
• ARV discount +7.5/15.0
• DSCR +6.1/10.0
• 1% rule +5.1/10.0
• Condition / age +4.0/5.0
• Schools +2.9/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this beautifully updated 3-bedroom, 2-bath manufactured home in Macy, Indiana! Nestled on nearly half an acre, this move-in-ready property offers a great combination of space, comfort, and modern updates. Thoughtfully renovated throughout, this home provides added peace of mind with major improvements already completed, including all-new PEX plumbing, a new sump pump, insulated skirting, brand-new water heater, new furnace, and water softener system. These valuable upgrades make this property an attractive option for both homeowners and investors looking for a low-maintenance opportunity. Inside, you’ll find fresh paint, textured walls, stylish new flooring, and updated cei

Key facts

• New furnace
• New pex plumbing
• Insulated skirting

Tags

• NEW PEX PLUMBING
• NEW SUMP PUMP
• INSULATED SKIRTING
• BRAND-NEW WATER HEATER
• NEW FURNACE
• WATER SOFTENER SYSTEM

Property features AI

Exterior

• Utilities: Private well water source; Public sewer
• Home design: Manufactured residential home
• Construction: Aluminum siding; Vinyl siding; Basement (other type) with sump pump
• Exterior features: Metal roof; Lot includes other features; Approximately 0.4 acre lot

Interior

• Kitchen: Gas range; Refrigerator
• Bedrooms: Total of 7 rooms (bedroom count not specified)
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Blinds; Water softener (owned)
• Laundry & utility: Washer and dryer included; Laundry located on the main level; Electric water heater; Sump pump in basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $100k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $110 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 57/100 on livability (#605 in IN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B+; Watch: employment D, crime F, amenities F.
• North Miami Community Schools (rural): math 26% / reading 42% proficiency, ranked #197 of 301 in IN (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: North Miami Elementary School (math 36% / reading 37%, grade F, #571 of 994 statewide, top 58%, 369 students, 52% FRL) — zoned schools average 52% FRL vs 26% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 17 active listings in the ZIP; 35 units permitted in Miami County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Miami County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.

Recommended offer $97,000 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. Crime grade is F 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?
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: 1.01% ✓
• Cap rate: 7.62%
• Cash-on-cash: 4.72%
• DSCR: 1.21
• GRM: 8.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -8.9%
• Equity multiple: 0.67×
• Total profit: $-9,170
• Equity at exit: $14,910

10-year hold

• IRR: 0.6%
• Equity multiple: 1.04×
• Total profit: $1,116
• Equity at exit: $8,646

Cash invested: $28,000 (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 46951

• Home prices YoY: -16.5%
• Active inventory: 17
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,014 medium
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,500/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$213
• Net cashflow: $110

Break-even live

Break-even rent $875

Max offer price $100,000

Occupancy floor 84%

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-19
   days on market $100,000 Active 48 DOM
2. 2026-06-18
   days on market $100,000 Active 47 DOM
3. 2026-06-17
   days on market $100,000 Active 46 DOM
4. 2026-06-16
   days on market $100,000 Active 45 DOM
5. 2026-06-15
   days on market $100,000 Active 44 DOM
6. 2026-06-14
   days on market $100,000 Active 42 DOM
7. 2026-06-12
   days on market $100,000 Active 41 DOM
8. 2026-06-09
   days on market $100,000 Active 38 DOM
9. 2026-06-08
   days on market $100,000 Active 37 DOM
10. 2026-06-07
    days on market $100,000 Active 36 DOM
11. 2026-06-07
    days on market $100,000 Active 35 DOM
12. 2026-06-03
    days on market $100,000 Active 32 DOM
13. 2026-06-02
    days on market $100,000 Active 31 DOM
14. 2026-06-01
    days on market $100,000 Active 30 DOM
15. 2026-05-31
    days on market $100,000 Active 29 DOM
16. 2026-05-31
    days on market $100,000 Active 28 DOM
17. 2026-05-02
    listed $120,000 Active 1092-char remark

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

Taxation est. · year 1

• Rental income: $12,171
• − Mortgage interest: −$5,602
• − Property taxes: −$1,500
• − Insurance: −$500
• − Repairs & maintenance: −$974
• − Management: −$974
• − Depreciation: −$2,909
• Taxable loss: −$287
• Est. tax savings @ 24.0%: +$69
• After-tax cash flow: $1,391/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 · 12 photos

Good 80/100 Cosmetic rehab

This move-in-ready manufactured home in Macy, Indiana, offers a great combination of space, comfort, and modern updates. The property has been thoughtfully renovated with new systems and flooring, making it an attractive option for both homeowners and investors.

Value-add opportunities

• Both landscaping — improves curb appeal and adds value
• Both new exterior paint — enhances curb appeal and value
• Both new flooring in bathrooms — improves aesthetics and functionality

Renovation cost estimate screening

Value-add ROI direction

• Both landscaping — improves curb appeal and adds value ↑
• Both new exterior paint — enhances curb appeal and value ↑
• Both new flooring in bathrooms — improves aesthetics and functionality ↑

ⓘ 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: North Miami Community Schools
• NCES district ID: 1807890
• Math proficiency: 26% ▼ -10.00%
• Reading proficiency: 42% ▼ -3.00%
• Median HH income: $49,863
• Composite: 29.45/100
• National rank: #6513
• State rank: #197 of 301 in IN

Livability — Macy

• Score: 57/100
• State rank: #605
• US rank: #21805

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Macy, IN
• Population (ZIP): 2,016

Population outlook (Miami County) Hauer SSP2

• Today (2025): 34,421 people
• By 2030: 33,571 · -2.5%
• By 2040: 31,919 · -7.3%
• By 2050: 30,313 · -11.9%
• By 2075: 26,202 · -23.9%
• By 2100: 20,856 · -39.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 6%
• Common ancestry: Iranian 3% English 3% Italian 2%
• Foreign-born: 0%
• Languages at home: 97% English-only · German/W. Germanic 3%

Political lean MEDSL · Miami

• 2024 margin: Solid R (+54.5) · D 21.8% · R 76.3% · Other 1.9%
• 2008→2024 swing: -35.1pp toward R · 2008: -19.5pp · 2024: -54.5pp
• All cycles: 2024: R+54.5 2020: R+53.1 2016: R+53.6 2012: R+30.9 2008: R+19.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -44.39%
• Current HPI: 224.6246
• 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

-16.7% since first listed

2 events — show timeline

• 2026-05-28 Price Changed $100,000 IRMLS
• 2026-05-02 Listed $120,000 IRMLS

Property tax history

+45.7%/yr

Latest (2024): $198 · +45.7% YoY. Source: county tax records.