135 LN 285a Crooked Lake Lk · Jimmerson Lake, IN 46703

$95,000

2 bd · 1.0 ba · 952 sqft · Land · 4 Days on market

Built 1981 0.46 ac 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 +25.3/30.0
• DSCR +8.3/10.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• Schools +5.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

1981 14x70 Redman mobile home with 6x12 pullout. Home on 4 lots with mature trees at Kidney's Landing Crooked Lake. 2 decks, 24x24 garage with a 6x24 covered patio. 2 sheds included, a 10x10 shed and an 8x12 shed. Large living room, eat-in kitchen with a lot of cabinets and counter space, 2 bedrooms and 1 bath. Association access to lake. This is an estate property. Sold as-is, no disclosures.

Key facts

• Covered patio
• 2 sheds
• 2 decks

Tags

• ASSOCIATION ACCESS TO LAKE
• 2 DECKS
• COVERED PATIO
• 2 SHEDS

Property features AI

Exterior

• Parking: Detached garage; Off-street parking; 2 garage spaces
• Utilities: Private water source; Public sewer
• Home design: Manufactured home (residential); Single-story
• Construction: Vinyl siding; Metal roof
• Exterior features: Deck; Shed(s); Lake frontage (Crooked Lake); Level lot; Gravel road access

Interior

• Kitchen: Refrigerator; Gas range
• Bedrooms: Total of 5 rooms (bedroom count not specified)
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Natural gas heating; Central air conditioning; Ceiling fans
• Interior features: Ceiling fans; Eat-in kitchen; Basement (other)
• Laundry & utility: Washer hookup on main level; Gas dryer hookup; Washer and dryer included

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath land listed at $95k.

Deal economics

• At list price, monthly cash flow is $216 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Cap rate 9.0% vs local median 0.5% in Jimmerson Lake — 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: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Market conditions: 10 active listings in the ZIP; 209 units permitted in Steuben County in 2024 (72 in 5+ unit buildings).
• This rent is only 18% of the median local income ($75k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $657 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Steuben County population projected at -13% 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.

Recommended offer $95,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.16% ✓
• Cap rate: 9.03%
• Cash-on-cash: 9.77%
• DSCR: 1.43
• GRM: 7.2

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: -1.6%
• Equity multiple: 0.94×
• Total profit: $-1,589
• Equity at exit: $14,165

10-year hold

• IRR: 8.1%
• Equity multiple: 1.62×
• Total profit: $16,440
• Equity at exit: $8,214

Cash invested: $26,600 (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 46703

• Home prices YoY: -27.1%
• Active inventory: 10
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,105 medium
• Mortgage (P&I): −$498
• Tax est. 1.5%: −$119 /mo · $1,425/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$232
• Net cashflow: $216

Break-even live

Break-even rent $831

Max offer price $95,000

Occupancy floor 75%

Sensitivity live

Price	-10% $282	-5% $249	+0% $216	+5% $184	+10% $151
Rent	-10% $129	-5% $173	+0% $216	+5% $260	+10% $304
Rate	-1.0pp $264	-0.5pp $241	base $216	+0.5pp $192	+1.0pp $167

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-21
   days on market $95,000 Active 4 DOM
2. 2026-06-18
   days on market $95,000 Active 2 DOM
3. 2026-06-17
   remarks 396-char remark
4. 2026-06-17
   listed $95,000 Active 1 DOM

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,261
• − Mortgage interest: −$5,321
• − Property taxes: −$1,425
• − Insurance: −$475
• − Repairs & maintenance: −$1,061
• − Management: −$1,061
• − Depreciation: −$2,764
• Taxable income: $1,154
• Est. tax owed @ 24.0%: −$277
• After-tax cash flow: $2,321/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)

No district data.

Livability — Jimmerson Lake

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Steuben County · 18,572 people
• Metro: Angola, IN
• Population (ZIP): 18,572
• Household income: $74,569
• Rent vs Own: 27.8% rent · 72.2% own
• Severe rent burden: 433.0

Population outlook (Steuben County) Hauer SSP2

• Today (2025): 34,334 people
• By 2030: 33,801 · -1.6%
• By 2040: 32,076 · -6.6%
• By 2050: 30,022 · -12.6%
• By 2075: 25,626 · -25.4%
• By 2100: 21,257 · -38.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 6% Two or more races 5% Black 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 3% Lithuanian 2% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Steuben

• 2024 margin: Solid R (+42.1) · D 28.1% · R 70.2% · Other 1.6%
• 2008→2024 swing: -32.3pp toward R · 2008: -9.8pp · 2024: -42.1pp
• All cycles: 2024: R+42.1 2020: R+42.2 2016: R+44.0 2012: R+27.0 2008: R+9.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -78.35%
• Current HPI: 211.2495
• Rent YoY: —
• Metro: Angola, 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

1 event — show timeline

• 2026-06-16 Listed $95,000 IRMLS

Property tax history

+5.7%/yr

Latest (2024): $8 · +9.1% YoY. Source: county tax records.