355 Gentlemen Pl · Cloverdale, IN 46120

$104,995

3 bd · 2.0 ba · 1,216 sqft · Manufactured public records · 41 Days on market

Built 1995 7,187 sqft lot $86/sqft · 18% below area Est $128k · 18% under $23/mo HOA · 2% of rent

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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 +20.6/30.0
• ARV discount +15.0/15.0
• DSCR +6.6/10.0
• 1% rule +5.8/10.0
• 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

Tucked away at the end of a quiet cul-de-sac, this beautifully updated 3 bedroom, 2 full bath manufactured home offers incredible value at an affordable price! Pride of ownership shines throughout with a clean, well-maintained interior and numerous updates that make this home truly move-in ready. Enjoy a functional layout with spacious living areas, comfortable bedrooms, and a welcoming atmosphere perfect for everyday living. Outside, you'll love the oversized storage barn offering plenty of room for tools, hobbies, lawn equipment, or extra storage. Located in a peaceful neighborhood with minimal traffic, this home combines affordability, comfort, and convenience all in one package. Don't m

Key facts

• Access to lakes
• In-ground pool
• Clubhouse

Tags

• OVERSIZED STORAGE BARN
• ACCESS TO LAKES
• IN-GROUND POOL
• CLUBHOUSE
• PLAYGROUND

Property features AI

Finance

• Other: Ownership interest: Mandatory fee
• HOA & community: Homeowners association with annual fee of $280; Community amenities include clubhouse, pool, playground, basketball court, and snow removal

Exterior

• Parking: Carport
• Utilities: Public water; Municipal sewer connected; No solid waste service listed
• Home design: Manufactured home; Updated/remodeled condition; One level
• Construction: Vinyl siding; Block foundation
• Exterior features: Lot in a cul-de-sac; Rural subdivision setting; Mature trees; Lot approximately 0.17 acre

Interior

• Kitchen: Electric cooktop; Electric oven; Refrigerator; Breakfast bar adjacent to kitchen
• Bedrooms: 3 bedrooms (all on the main level)
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Electric forced-air heating; Central air conditioning
• Interior features: Breakfast bar; Total of 6 rooms
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $105k.

Deal economics

• At list price, monthly cash flow is $141 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Recommended offer: $102k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.9% 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 $726 of loan paydown is wiped out by about $1k 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.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($102k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 13y ago; this cycle's ask has dropped $35k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $101,845 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 1.08% ✓
• Cap rate: 7.90%
• Cash-on-cash: 5.74%
• DSCR: 1.26
• GRM: 7.7

CMA / ARV

• ARV (median comp): $127,500
• List price: $104,995
• Delta: -17.65%
• Verdict: UNDERPRICED
• Comps: 16 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
125 Oriole Ct	0.12mi	3/1.0	1,216 (0%)	2mo	$142,900	$118	89
157 Lazy River Rd	0.13mi	2/2.0 (-1)	1,216 (0%)	0mo	$130,000	$107	89
384 Cool Evening Ct	0.11mi	3/2.0	1,232 (+1%)	6mo	$92,000	$75	87
334 Small Fry Ave	0.15mi	3/2.0	1,188 (-2%)	6mo	$172,900	$146	84
94 Small Fry Ave	0.19mi	2/2.0 (-1)	1,216 (0%)	4mo	$125,000	$103	83
597 Lazy River Rd	0.14mi	3/2.0	1,188 (-2%)	9mo	$165,000	$139	82
289 Bubble Loo Rd	0.23mi	3/2.0	1,216 (0%)	14mo	$157,000	$129	78
362 Gentlemen Pl	0.03mi	3/2.0	1,140 (-6%)	18mo	$102,600	$90	73
261 Down Boy Way	0.22mi	2/2.0 (-1)	1,104 (-9%)	5mo	$142,000	$129	65
179 Lazy River Ct	0.25mi	2/1.5 (-1)	1,152 (-5%)	11mo	$139,900	$121	63
288 Bubble Loo Rd	0.23mi	3/2.0	1,064 (-12%)	11mo	$79,900	$75	59
443 Stardust Way	0.32mi	3/2.0	1,323 (+9%)	15mo	$150,000	$113	58

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: 0.0%
• Equity multiple: 1.00×
• Total profit: $57
• Equity at exit: $24,249

10-year hold

• IRR: 7.0%
• Equity multiple: 1.65×
• Total profit: $19,233
• Equity at exit: $24,542

Cash invested: $29,399 (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: 7.7×

Monthly cashflow live

• Estimated rent: $1,137 medium
• Mortgage (P&I): −$551
• Tax from tax record: −$140 /mo · $1,684/yr
• Insurance: −$44
• HOA: −$23
• Vacancy / Maint / Mgmt: −$239
• Net cashflow: $141

Break-even live

Break-even rent $959

Max offer price $104,995

Occupancy floor 83%

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: $26,249
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $23 · $276/yr

Listing history 16 events

1. 2026-06-18
   days on market $104,995 Active 41 DOM
2. 2026-06-17
   price $104,995 Active 40 DOM
3. 2026-06-17
   days on market $124,995 Active 40 DOM
4. 2026-06-16
   days on market $124,995 Active 39 DOM
5. 2026-06-15
   days on market $124,995 Active 38 DOM
6. 2026-06-13
   days on market $124,995 Active 36 DOM
7. 2026-06-09
   days on market $124,995 Active 32 DOM
8. 2026-06-08
   days on market $124,995 Active 31 DOM
9. 2026-06-07
   pricedays on market $124,995 Active 30 DOM
10. 2026-06-03
    days on market $134,995 Active 26 DOM
11. 2026-06-02
    days on market $134,995 Active 25 DOM
12. 2026-06-01
    days on market $134,995 Active 24 DOM
13. 2026-05-31
    days on market $134,995 Active 23 DOM
14. 2026-05-08
    listed $140,000 Active 1270-char remark
15. 2014-01-06
    historical
16. 2013-07-22
    listed $49,900

ⓘ 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: $1,684 · $140/mo
• Projected year-2 tax: $1,684 · $140/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: $13,645
• − Mortgage interest: −$5,881
• − Property taxes: −$1,684
• − Insurance: −$525
• − Repairs & maintenance: −$1,092
• − Management: −$1,092
• − HOA: −$276
• − Depreciation: −$3,054
• Taxable income: $41
• Est. tax owed @ 24.0%: −$10
• After-tax cash flow: $1,677/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

+110.4% since first listed

6 events — show timeline

• 2026-06-17 Price Changed $104,995 MIBOR as Distributed by MLS Grid
• 2026-06-03 Price Changed $124,995 MIBOR as Distributed by MLS Grid
• 2026-05-20 Price Changed $134,995 MIBOR as Distributed by MLS Grid
• 2026-05-08 Listed $140,000 MIBOR as Distributed by MLS Grid
• 2014-01-06 Listing Removed — MIBOR as Distributed by MLS Grid
• 2013-07-22 Listed $49,900 MIBOR as Distributed by MLS Grid

Property tax history

+6.2%/yr

Latest (2024): $1,684 · +118.9% YoY. Source: county tax records.