363 Gentlemen Pl · Cloverdale, IN 46120

$79,995

2 bd · 1.0 ba · 924 sqft · Manufactured public records · 64 Days on market

Built 1986 7,187 sqft lot $87/sqft · 30% below area Est $115k · 30% under

---

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 +24.0/30.0
• ARV discount +15.0/15.0
• DSCR +7.7/10.0
• 1% rule +6.2/10.0
• Appreciation +4.4/10.0
• Livability +3.5/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Affordable living in Stardust Hills-own your home and land for less than the cost of renting. This 2 bedroom, 1 bath home offers a functional layout with laminate flooring in the kitchen and living room for easy maintenance. HUD certification has been completed, and the home is FHA eligible-making financing more accessible for qualified buyers. The large eat-in kitchen includes appliances and provides plenty of space for dining. The primary bedroom features two closets, offering ample storage, and a convenient hallway laundry closet adds to the home's practicality. Outside, the property includes a covered front patio, a large carport for protected parking, and a storage shed for additional storage needs. Located in a community with access to five fishing lakes, a clubhouse, pool, park, and over 40 acres of common area. Conveniently situated just minutes from I-70 and US 231, offering easy access for commuting and travel.

Key facts

• Laminate flooring
• Large eat-in kitchen
• Two closets

Tags

• LAMINATE FLOORING
• LARGE EAT-IN KITCHEN
• TWO CLOSETS
• HALLWAY LAUNDRY CLOSET
• COVERED FRONT PATIO
• LARGE CARPORT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $80k.

Deal economics

• At list price, monthly cash flow is $157 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($899 rent vs $80k).
• Recommended offer: $75k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 3.5% in Cloverdale — 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 70/100 on livability (#156 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools C-, amenities F, commute F.
• Cloverdale Community Schools (rural): math 36% / reading 40% proficiency, ranked #167 of 301 in IN (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 65 active listings in the ZIP; 166 units permitted in Putnam County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-1.2%/yr); year-one equity from $553 of loan paydown is wiped out by about $974 of value loss. Plan a longer hold.
• Putnam County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-1.2% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 16y ago; this cycle's ask has dropped $9k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $75,195 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% 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. 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: 1.12% ✓
• Cap rate: 8.64%
• Cash-on-cash: 8.39%
• DSCR: 1.37
• GRM: 7.4

CMA / ARV

• ARV (median comp): $115,000
• List price: $79,995
• Delta: -27.83%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
330 Lazy River Rd	0.19mi	2/1.0	938 (+2%)	1mo	$115,000	$123	88
61 Bubble Loo Rd	0.19mi	2/1.5	938 (+2%)	0mo	$80,000	$85	86
290 Bubble Loo Rd	0.26mi	2/2.0	924 (0%)	1mo	$50,000	$54	83
66 Bubble Loo Rd	0.26mi	2/2.0	938 (+2%)	2mo	$117,000	$125	80
396 Cool Evening Ct	0.06mi	2/1.0	832 (-10%)	3mo	$105,000	$126	78

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

Projected returns pro-forma

-1.22% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 3.3%
• Equity multiple: 1.14×
• Total profit: $3,183
• Equity at exit: $18,476

10-year hold

• IRR: 10.0%
• Equity multiple: 1.95×
• Total profit: $21,390
• Equity at exit: $18,699

Cash invested: $22,399 (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 46120

• Home prices YoY: -0.5%
• Active inventory: 65
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $899 medium
• Mortgage (P&I): −$420
• Tax from tax record: −$101 /mo · $1,211/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$189
• Net cashflow: $157

Break-even live

Break-even rent $701

Max offer price $79,995

Occupancy floor 78%

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: $19,999
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-18
   price $79,995 Active 64 DOM
2. 2026-06-18
   days on market $82,995 Active 64 DOM
3. 2026-06-17
   days on market $82,995 Active 63 DOM
4. 2026-06-16
   days on market $82,995 Active 62 DOM
5. 2026-06-15
   days on market $82,995 Active 61 DOM
6. 2026-06-13
   days on market $82,995 Active 59 DOM
7. 2026-06-09
   days on market $82,995 Active 55 DOM
8. 2026-06-08
   days on market $82,995 Active 54 DOM
9. 2026-06-07
   pricedays on market $82,995 Active 53 DOM
10. 2026-06-03
    days on market $84,999 Active 49 DOM
11. 2026-06-02
    days on market $84,999 Active 48 DOM
12. 2026-06-01
    days on market $84,999 Active 47 DOM
13. 2026-05-31
    days on market $84,999 Active 46 DOM
14. 2026-05-08
    price $84,999 938-char remark

    Show marketing remark (938 chars)

    Affordable living in Stardust Hills-own your home and land for less than the cost of renting. This 2 bedroom, 1 bath home offers a functional layout with laminate flooring in the kitchen and living room for easy maintenance. HUD certification has been completed, and the home is FHA eligible-making financing more accessible for qualified buyers. The large eat-in kitchen includes appliances and provides plenty of space for dining. The primary bedroom features two closets, offering ample storage, and a convenient hallway laundry closet adds to the home's practicality. Outside, the property includes a covered front patio, a large carport for protected parking, and a storage shed for additional storage needs. Located in a community with access to five fishing lakes, a clubhouse, pool, park, and over 40 acres of common area. Conveniently situated just minutes from I-70 and US 231, offering easy access for commuting and travel.

15. 2026-04-15
    listed $89,000 Active 938-char remark

    Show marketing remark (938 chars)

    Affordable living in Stardust Hills-own your home and land for less than the cost of renting. This 2 bedroom, 1 bath home offers a functional layout with laminate flooring in the kitchen and living room for easy maintenance. HUD certification has been completed, and the home is FHA eligible-making financing more accessible for qualified buyers. The large eat-in kitchen includes appliances and provides plenty of space for dining. The primary bedroom features two closets, offering ample storage, and a convenient hallway laundry closet adds to the home's practicality. Outside, the property includes a covered front patio, a large carport for protected parking, and a storage shed for additional storage needs. Located in a community with access to five fishing lakes, a clubhouse, pool, park, and over 40 acres of common area. Conveniently situated just minutes from I-70 and US 231, offering easy access for commuting and travel.

16. 2025-12-09
    historical
17. 2025-10-01
    status Active
18. 2025-09-30
    historical
19. 2025-09-19
    price $84,995
20. 2025-06-06
    listed $85,000 Active
21. 2023-12-31
    historical
22. 2023-09-27
    price $80,000
23. 2023-09-27
    price $80,000
24. 2023-06-08
    price $85,000
25. 2023-06-08
    price $85,000
26. 2023-05-28
    listed $90,000 Active
27. 2023-05-28
    listed $90,000 Active
28. 2011-10-06
    historical
29. 2010-07-28
    listed $38,900

ⓘ 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: $1,211 · $101/mo
• Projected year-2 tax: $1,211 · $101/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 FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥103°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $10,791
• − Mortgage interest: −$4,481
• − Property taxes: −$1,211
• − Insurance: −$400
• − Repairs & maintenance: −$863
• − Management: −$863
• − Depreciation: −$2,327
• Taxable income: $645
• Est. tax owed @ 24.0%: −$155
• After-tax cash flow: $1,725/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: Cloverdale Community Schools
• NCES district ID: 1802220
• Math proficiency: 36% ▼ -16.00%
• Reading proficiency: 40% ▼ -14.00%
• Median HH income: $44,267
• Composite: 32.28/100
• National rank: #5753
• State rank: #167 of 301 in IN

Livability — Cloverdale

• Score: 70/100
• State rank: #156
• US rank: #7715

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cloverdale, IN
• City population: 6,138
• Population (ZIP): 6,138

Population outlook (Putnam County) Hauer SSP2

• Today (2025): 37,226 people
• By 2030: 36,723 · -1.4%
• By 2040: 35,407 · -4.9%
• By 2050: 34,177 · -8.2%
• By 2075: 32,038 · -13.9%
• By 2100: 28,380 · -23.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 1% Black 1%
• Common ancestry: Slovak 3% Lithuanian 2% Iranian 2%
• Foreign-born: 1%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Putnam

• 2024 margin: Solid R (+52.0) · D 23.1% · R 75.1% · Other 1.8%
• 2008→2024 swing: -40.0pp toward R · 2008: -12.0pp · 2024: -52.0pp
• All cycles: 2024: R+52.0 2020: R+50.2 2016: R+49.6 2012: R+32.6 2008: R+12.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -1.22%
• Current HPI: 235.6828
• 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

+118.5% since first listed

16 events — show timeline

• 2026-05-08 Price Changed $84,999 MIBOR as Distributed by MLS Grid
• 2026-04-15 Listed $89,000 MIBOR as Distributed by MLS Grid
• 2025-12-09 Listing Removed — MIBOR as Distributed by MLS Grid
• 2025-10-01 Relisted — MIBOR as Distributed by MLS Grid
• 2025-09-30 Listing Removed — MIBOR as Distributed by MLS Grid
• 2025-09-19 Price Changed $84,995 MIBOR as Distributed by MLS Grid
• 2025-06-06 Listed $85,000 MIBOR as Distributed by MLS Grid
• 2023-12-31 Listing Removed — MIBOR as Distributed by MLS Grid
• 2023-09-27 Price Changed $80,000 IRMLS
• 2023-09-27 Price Changed $80,000 MIBOR as Distributed by MLS Grid
• 2023-06-08 Price Changed $85,000 IRMLS
• 2023-06-08 Price Changed $85,000 MIBOR as Distributed by MLS Grid
• 2023-05-28 Listed $90,000 MIBOR as Distributed by MLS Grid
• 2023-05-28 Listed $90,000 IRMLS
• 2011-10-06 Listing Removed — MIBOR as Distributed by MLS Grid
• 2010-07-28 Listed $38,900 MIBOR as Distributed by MLS Grid

Property tax history

+14.0%/yr

Latest (2024): $1,211 · +157.6% YoY. Source: county tax records.