5246 W Warren Ave · Silver Lake, IN 46982

$64,900

None bd · None ba · — sqft · Manufactured · 42 Days on market

0.33 ac lot ↓ 13% since listing

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Appreciation +6.4/10.0
• Schools +3.5/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Cash flow +0.0/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Beautiful Lake View Lot available on Diamond Lake! Great location, very near boat ramp! This is a great fishing lake and weekend retreat. There is a very nice fully furnished vintage 1955 New Moon mobile home with existing water, septic, and electric. This dwelling can be replaced if you like. The lot is . 33 acres, it has mature trees and an amazing lake view. Well and septic on site. A great property at a great price! Schedule your tour today.

Key facts

• Vintage mobile home
• Lake view lot
• Fishing lake

Tags

• LAKE VIEW LOT
• BOAT RAMP
• FISHING LAKE
• FULLY FURNISHED
• VINTAGE MOBILE HOME
• MATURE TREES

Property features AI

Finance

• Financial info: $400 annual tax listed

Exterior

• Parking: Gravel parking
• Utilities: Private well water; Septic tank
• Home design: Manufactured home (residential); Single-story
• Construction: Metal siding; Vinyl siding; Metal roof; Built as a manufactured/mobile home
• Exterior features: Enclosed porch; Porch; Fire pit; Rolling slope lot; Wooded lot; Views; Lake privileges on Diamond Lake; Has view

Interior

• Kitchen: Microwave; Refrigerator; Gas cooktop; Gas oven
• Bedrooms: Total of 5 rooms (includes bedrooms and living spaces)
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom; Main level bathroom
• Heating & cooling: Propane heating; Wall cooling unit(s)
• Interior features: Breakfast bar; Master suite on main level; 1 fireplace
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a manufactured listed at $65k.

Deal economics

• At list price, monthly cash flow is $-411 ($-5k/yr) — negative.
• Rent doesn't cover operating costs at any purchase price — skip.
• Recommended offer: $63k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#208 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Tippecanoe Valley School Corporation (rural): math 40% / reading 42% proficiency, ranked #126 of 301 in IN (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Akron Elementary School (math 37% / reading 37%, grade F, #550 of 994 statewide, top 57%, 385 students, 56% FRL).
• Market conditions: 10 active listings in the ZIP; 261 units permitted in Kosciusko County in 2024 (10 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($449 loan paydown + $2k appreciation (2.8% local appreciation)).
• Kosciusko County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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.

Recommended offer $62,953 (3.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.00% ✗
• Cap rate: -1.31%
• Cash-on-cash: -27.14%
• DSCR: -0.21
• GRM: 0.0

CMA / ARV

No comps found within radius.

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5379 W Warren Ave	0.18mi	3/2.0	1,560	18mo	$225,000	$144	64

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

Projected returns pro-forma

2.84% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -18.1%
• Equity multiple: -0.04×
• Total profit: $-18,940
• Equity at exit: $28,583

10-year hold

• IRR: -10.4%
• Equity multiple: -0.65×
• Total profit: $-30,064
• Equity at exit: $43,590

Cash invested: $18,172 (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 46982

• Home prices YoY: 1.0%
• Active inventory: 10

Monthly cashflow live

• Estimated rent: $0 none
• Mortgage (P&I): −$340
• Tax from tax record: −$44 /mo · $523/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$0
• Net cashflow: $-411

Break-even live

Break-even rent $520

Max offer price —

Occupancy floor —

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: $16,225
• Closing costs: $1,947
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $64,900 Active 42 DOM
2. 2026-06-18
   listing id $64,900 Active 41 DOM
3. 2026-06-18
   days on market $64,900 Active 41 DOM
4. 2026-06-17
   days on market $64,900 Active 40 DOM
5. 2026-06-16
   days on market $64,900 Active 39 DOM
6. 2026-06-15
   days on market $64,900 Active 38 DOM
7. 2026-06-14
   days on market $64,900 Active 36 DOM
8. 2026-06-12
   days on market $64,900 Active 35 DOM
9. 2026-06-09
   days on market $64,900 Active 32 DOM
10. 2026-06-08
    days on market $64,900 Active 31 DOM
11. 2026-06-07
    days on market $64,900 Active 30 DOM
12. 2026-06-05
    days on market $64,900 Active 27 DOM
13. 2026-06-02
    days on market $64,900 Active 25 DOM
14. 2026-06-01
    days on market $64,900 Active 24 DOM
15. 2026-05-31
    days on market $64,900 Active 23 DOM
16. 2026-05-30
    days on market $64,900 Active 22 DOM
17. 2026-05-08
    listed $64,900 Active 449-char remark

    Show marketing remark (449 chars)

    Beautiful Lake View Lot available on Diamond Lake! Great location, very near boat ramp! This is a great fishing lake and weekend retreat. There is a very nice fully furnished vintage 1955 New Moon mobile home with existing water, septic, and electric. This dwelling can be replaced if you like. The lot is . 33 acres, it has mature trees and an amazing lake view. Well and septic on site. A great property at a great price! Schedule your tour today.

18. 2026-05-08
    listed $64,900 Active

    Show marketing remark (449 chars)

    Beautiful Lake View Lot available on Diamond Lake! Great location, very near boat ramp! This is a great fishing lake and weekend retreat. There is a very nice fully furnished vintage 1955 New Moon mobile home with existing water, septic, and electric. This dwelling can be replaced if you like. The lot is . 33 acres, it has mature trees and an amazing lake view. Well and septic on site. A great property at a great price! Schedule your tour today.

19. 2025-09-10
    listed $74,900 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: $523 · $44/mo
• Projected year-2 tax: $537 · $45/mo
• Expected delta: +$15/yr (+$1/mo · 2.8%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥100°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $0
• − Mortgage interest: −$3,635
• − Property taxes: −$523
• − Insurance: −$324
• − Repairs & maintenance: −$0
• − Management: −$0
• − Depreciation: −$1,888
• Taxable loss: −$6,370
• Est. tax savings @ 24.0%: +$1,529
• After-tax cash flow: $-3,402/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: Tippecanoe Valley School Corporation
• NCES district ID: 1811370
• Math proficiency: 40% ▼ -9.00%
• Reading proficiency: 42% ▼ -5.00%
• Median HH income: $49,697
• Composite: 35.29/100
• National rank: #4969
• State rank: #126 of 301 in IN

Livability — Silver Lake

• Score: 68/100
• State rank: #208
• US rank: #9160

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,653

Population outlook (Kosciusko County) Hauer SSP2

• Today (2025): 81,747 people
• By 2030: 82,878 · +1.4%
• By 2040: 84,270 · +3.1%
• By 2050: 84,191 · +3.0%
• By 2075: 82,918 · +1.4%
• By 2100: 74,808 · -8.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (99%)
• Race & ethnicity: White 99% Two or more races 1%
• Common ancestry: Italian 2% Slovak 2% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 99% English-only · Other Indo-European 1%

Political lean MEDSL · Kosciusko

• 2024 margin: Solid R (+52.3) · D 22.9% · R 75.2% · Other 1.9%
• 2008→2024 swing: -14.9pp toward R · 2008: -37.3pp · 2024: -52.3pp
• All cycles: 2024: R+52.3 2020: R+50.7 2016: R+55.1 2012: R+52.2 2008: R+37.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.84%
• Current HPI: 278.4323
• 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

-13.4% since first listed

3 events — show timeline

• 2026-05-08 Listed $64,900 IRMLS
• 2026-05-08 Listed $64,900 IRMLS
• 2025-09-10 Listed $74,900 IRMLS

Property tax history

-0.9%/yr

Latest (2024): $523 · +8.9% YoY. Source: county tax records.