Clayton Drake 28 X 40 Plan · Michiana Shores, IN 46360

$64,000

3 bd · 2.0 ba · 1,053 sqft · Manufactured · 279 Days on market

Good condition ↓ 19% since listing

---

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
• ARV discount +7.5/15.0
• Rent growth +4.9/5.0
• Condition / age +4.0/5.0
• Livability +3.2/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Introducing The Drake, a thoughtfully designed manufactured home that balances comfort, style, and functionality. With 3 bedrooms and 2 full bathrooms in about 1,053 square feet, this layout offers ample space without sacrificing efficiency-perfect for first-time homeowners, young families, or anyone looking to downsize without compromise. Key Features & Highlights Open concept layout makes living, dining, and kitchen flow seamlessly-ideal for entertaining or family time. Kitchen island & breakfast bar area give extra countertop space, casual dining options, and style. Split bedroom floor plan provides more privacy-master suite separated from guest/secondary bedrooms. Primary suite includes its own private bath. Other quality touches: double sinks in the master bath, modern fixtures, well-appointed finishes.

Key facts

• Double sinks
• Private bath
• Kitchen island

Tags

• OPEN CONCEPT LAYOUT
• KITCHEN ISLAND
• BREAKFAST BAR AREA
• SPLIT BEDROOM FLOOR PLAN
• PRIVATE BATH
• DOUBLE SINKS

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $64k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $688 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $64k).
• Recommended offer: $56k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#364 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A; Watch: schools D, amenities F, commute F.
• Michigan City Area Schools (urban): math 23% / reading 28% proficiency, ranked #262 of 301 in IN (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+9.7%/yr); 377 active listings in the ZIP; 216 units permitted in LaPorte County in 2024 (75 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $442 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• LaPorte County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 279 days — a 12% lower offer ($56k) is reasonable based on typical stale-listing flexibility.

Recommended offer $56,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 279 days. Have you received any prior offers? Is the seller open to a 12% 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. Schools are D-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. 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: 2.23% ✓
• Cap rate: 19.19%
• Cash-on-cash: 46.05%
• DSCR: 3.05
• GRM: 3.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 48.9%
• Equity multiple: 3.29×
• Total profit: $41,006
• Equity at exit: $9,543

10-year hold

• IRR: 56.5%
• Equity multiple: 8.06×
• Total profit: $126,592
• Equity at exit: $5,534

Cash invested: $17,920 (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 46360

• Rents YoY: 9.7%
• Active inventory: 377
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,430 medium
• Mortgage (P&I): −$336
• Tax est. 1.5%: −$80 /mo · $960/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $688

Break-even live

Break-even rent $560

Max offer price $64,000

Occupancy floor 47%

Sensitivity live

Price	-10% $732	-5% $710	+0% $688	+5% $666	+10% $643
Rent	-10% $575	-5% $631	+0% $688	+5% $744	+10% $801
Rate	-1.0pp $720	-0.5pp $704	base $688	+0.5pp $671	+1.0pp $654

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: $16,000
• Closing costs: $1,920
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-21
   days on market $64,000 Active 279 DOM
2. 2026-06-18
   days on market $64,000 Active 276 DOM
3. 2026-06-17
   days on market $64,000 Active 275 DOM
4. 2026-06-16
   days on market $64,000 Active 274 DOM
5. 2026-06-15
   days on market $64,000 Active 273 DOM
6. 2026-06-14
   days on market $64,000 Active 271 DOM
7. 2026-06-13
   days on market $64,000 Active 270 DOM
8. 2026-06-10
   days on market $64,000 Active 268 DOM
9. 2026-06-09
   days on market $64,000 Active 267 DOM
10. 2026-06-08
    days on market $64,000 Active 266 DOM
11. 2026-06-07
    days on market $64,000 Active 265 DOM
12. 2026-06-03
    days on market $64,000 Active 261 DOM
13. 2026-06-02
    days on market $64,000 Active 260 DOM
14. 2026-06-01
    days on market $64,000 Active 259 DOM
15. 2026-05-31
    days on market $64,000 Active 258 DOM
16. 2026-05-30
    days on market $64,000 Active 257 DOM
17. 2025-10-22
    price $64,000 832-char remark

    Show marketing remark (832 chars)

    Introducing The Drake, a thoughtfully designed manufactured home that balances comfort, style, and functionality. With 3 bedrooms and 2 full bathrooms in about 1,053 square feet, this layout offers ample space without sacrificing efficiency-perfect for first-time homeowners, young families, or anyone looking to downsize without compromise. Key Features & Highlights Open concept layout makes living, dining, and kitchen flow seamlessly-ideal for entertaining or family time. Kitchen island & breakfast bar area give extra countertop space, casual dining options, and style. Split bedroom floor plan provides more privacy-master suite separated from guest/secondary bedrooms. Primary suite includes its own private bath. Other quality touches: double sinks in the master bath, modern fixtures, well-appointed finishes.

18. 2025-10-08
    price $69,000 832-char remark

    Show marketing remark (832 chars)

    Introducing The Drake, a thoughtfully designed manufactured home that balances comfort, style, and functionality. With 3 bedrooms and 2 full bathrooms in about 1,053 square feet, this layout offers ample space without sacrificing efficiency-perfect for first-time homeowners, young families, or anyone looking to downsize without compromise. Key Features & Highlights Open concept layout makes living, dining, and kitchen flow seamlessly-ideal for entertaining or family time. Kitchen island & breakfast bar area give extra countertop space, casual dining options, and style. Split bedroom floor plan provides more privacy-master suite separated from guest/secondary bedrooms. Primary suite includes its own private bath. Other quality touches: double sinks in the master bath, modern fixtures, well-appointed finishes.

19. 2025-10-01
    price $76,000 832-char remark

    Show marketing remark (832 chars)

    Introducing The Drake, a thoughtfully designed manufactured home that balances comfort, style, and functionality. With 3 bedrooms and 2 full bathrooms in about 1,053 square feet, this layout offers ample space without sacrificing efficiency-perfect for first-time homeowners, young families, or anyone looking to downsize without compromise. Key Features & Highlights Open concept layout makes living, dining, and kitchen flow seamlessly-ideal for entertaining or family time. Kitchen island & breakfast bar area give extra countertop space, casual dining options, and style. Split bedroom floor plan provides more privacy-master suite separated from guest/secondary bedrooms. Primary suite includes its own private bath. Other quality touches: double sinks in the master bath, modern fixtures, well-appointed finishes.

20. 2025-09-22
    price $74,000 832-char remark

    Show marketing remark (832 chars)

    Introducing The Drake, a thoughtfully designed manufactured home that balances comfort, style, and functionality. With 3 bedrooms and 2 full bathrooms in about 1,053 square feet, this layout offers ample space without sacrificing efficiency-perfect for first-time homeowners, young families, or anyone looking to downsize without compromise. Key Features & Highlights Open concept layout makes living, dining, and kitchen flow seamlessly-ideal for entertaining or family time. Kitchen island & breakfast bar area give extra countertop space, casual dining options, and style. Split bedroom floor plan provides more privacy-master suite separated from guest/secondary bedrooms. Primary suite includes its own private bath. Other quality touches: double sinks in the master bath, modern fixtures, well-appointed finishes.

21. 2025-09-16
    listed $79,000 Active 832-char remark

    Show marketing remark (832 chars)

    Introducing The Drake, a thoughtfully designed manufactured home that balances comfort, style, and functionality. With 3 bedrooms and 2 full bathrooms in about 1,053 square feet, this layout offers ample space without sacrificing efficiency-perfect for first-time homeowners, young families, or anyone looking to downsize without compromise. Key Features & Highlights Open concept layout makes living, dining, and kitchen flow seamlessly-ideal for entertaining or family time. Kitchen island & breakfast bar area give extra countertop space, casual dining options, and style. Split bedroom floor plan provides more privacy-master suite separated from guest/secondary bedrooms. Primary suite includes its own private bath. Other quality touches: double sinks in the master bath, modern fixtures, well-appointed finishes.

ⓘ 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: $17,163
• − Mortgage interest: −$3,585
• − Property taxes: −$960
• − Insurance: −$320
• − Repairs & maintenance: −$1,373
• − Management: −$1,373
• − Depreciation: −$1,862
• Taxable income: $7,691
• Est. tax owed @ 24.0%: −$1,846
• After-tax cash flow: $6,406/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 manufactured home is in good condition with a modern interior and exterior. It is move-in ready with minor maintenance items to address. Upgrades to the exterior and kitchen can significantly increase its value.

Value-add opportunities

• Resale Paint exterior trim — Enhances curb appeal and can add value to the home.
• Resale Replace countertops — Modernizes the kitchen and adds value.
• Both Install smart home features — Improves convenience and can increase both resale and rental value.
• Both Add outdoor lighting — Enhances curb appeal and can increase rental value by making the property more attractive at night.

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior trim — Enhances curb appeal and can add value to the home. ↑
• Resale Replace countertops — Modernizes the kitchen and adds value. ↑
• Both Install smart home features — Improves convenience and can increase both resale and rental value. ↑
• Both Add outdoor lighting — Enhances curb appeal and can increase rental value by making the property more attractive at night. ↑

ⓘ 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: Michigan City Area Schools
• NCES district ID: 1806570
• Math proficiency: 23% ▼ -16.00%
• Reading proficiency: 28% ▼ -10.00%
• Median HH income: $42,629
• Composite: 21.76/100
• National rank: #8257
• State rank: #262 of 301 in IN

Livability — Michiana Shores

• Score: 64/100
• State rank: #364
• US rank: #13686

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: La Porte County · 88,580 people
• Metro: Michigan City-La Porte, IN
• Population (ZIP): 43,817
• Household income: $59,266
• Rent vs Own: 31.8% rent · 68.2% own
• Severe rent burden: 1152.0

Population outlook (LaPorte County) Hauer SSP2

• Today (2025): 109,757 people
• By 2030: 108,288 · -1.3%
• By 2040: 105,070 · -4.3%
• By 2050: 102,330 · -6.8%
• By 2075: 97,009 · -11.6%
• By 2100: 86,459 · -21.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Black 20% Hispanic / Latino 8% Two or more races 7%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Romanian 11% Lithuanian 2% Iranian 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3%

Political lean MEDSL · LaPorte

• 2024 margin: R (+14.1) · D 42.1% · R 56.2% · Other 1.7%
• 2008→2024 swing: -19.1pp toward R · 2008: 5.0pp · 2024: -14.1pp
• All cycles: 2024: R+14.1 2020: R+7.2 2016: R+6.4 2012: D+12.6 2008: D+5.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -210.27%
• Current HPI: 206.0882
• Rent YoY: ▲ 9.72%
• Metro: Michigan City-La Porte, 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

-19.0% since first listed

5 events — show timeline

• 2025-10-22 Price Changed $64,000 Zillow
• 2025-10-08 Price Changed $69,000 Zillow
• 2025-10-01 Price Changed $76,000 Zillow
• 2025-09-22 Price Changed $74,000 Zillow
• 2025-09-16 Listed $79,000 Zillow