7685 N Cr 550 E · Newtonville, IN 47615

$64,900

3 bd · 2.0 ba · 1,296 sqft · Manufactured public records · 107 Days on market

Built 1995 1.00 ac lot Est $48k · 35% over ↓ 24% since listing

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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
• Appreciation +8.8/10.0
• Schools +5.5/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks

This property is now active in an online auction. All offers must be submitted through the property's listing page on www. auction.com. The sale will be subject to a 5% buyer's premium pursuant to the Auction Terms and Conditions (minimums may apply). All auction bids will be processed subject to seller approval. NO MH CURATIVE TO BE DONE. PROPERTY IS BEING MARKETED "AS IS" AND BUYERS WILL NEED TO SIGN AN HHA AT CLOSING. This property is now active in an online auction. All offers must be submitted through the property's listing page on www. auction.com. The sale will be subject to a 5% buyer's premium pursuant to the Auction Terms and Conditions (minimums may apply). All auction

Key facts

• 1 acre lot
• 2 garage spots
• Built 1995

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Septic tank
• Home design: Manufactured home (single-story)
• Construction: Metal siding; Metal roof
• Exterior features: Rolling slope lot

Interior

• Bedrooms: Total rooms: 5
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Crawl space basement
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $65k.

Deal economics

• At list price, monthly cash flow is $562 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $59k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• North Spencer County School Corporation (rural): math 64% / reading 63% proficiency, ranked #12 of 301 in IN (top 4%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Chrisney Elementary School (math 72% / reading 52%, grade B, #101 of 994 statewide, top 12%, 221 students, 42% FRL); Heritage Hills Middle School (math 58% / reading 62%, grade B, #15 of 330 statewide, top 5%, 299 students, 34% FRL); Heritage Hills High School (math 52% / reading 77%, grade B-, #34 of 369 statewide, top 10%, 642 students, 34% FRL).
• Market conditions: 11 active listings in the ZIP; 78 units permitted in Spencer County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($449 loan paydown + $5k appreciation (7.5% local appreciation)).
• Spencer County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (7.5% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 107 days — a 9% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $20k (24%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $59,059 (9.0% below list)

Questions for the listing agent

1. It's been on market 107 days. Have you received any prior offers? Is the seller open to a 9% 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: 1.88% ✓
• Cap rate: 16.69%
• Cash-on-cash: 37.14%
• DSCR: 2.65
• GRM: 4.4

CMA / ARV

• ARV (on-the-fly): $47,952
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7685 N Cr 550 E	0.00mi	3/2.0	1,296 (0%)	0mo	$47,500	$37	100

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

Projected returns pro-forma

7.51% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 49.3%
• Equity multiple: 4.33×
• Total profit: $60,510
• Equity at exit: $47,142

10-year hold

• IRR: 44.9%
• Equity multiple: 9.19×
• Total profit: $148,917
• Equity at exit: $91,584

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 47615

• Home prices YoY: 3.7%
• Active inventory: 11
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,218 medium
• Mortgage (P&I): −$340
• Tax from tax record: −$33 /mo · $394/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $562

Break-even live

Break-even rent $507

Max offer price $64,900

Occupancy floor 49%

Sensitivity live

Price	-10% $599	-5% $581	+0% $562	+5% $544	+10% $526
Rent	-10% $466	-5% $514	+0% $562	+5% $611	+10% $659
Rate	-1.0pp $595	-0.5pp $579	base $562	+0.5pp $546	+1.0pp $528

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 5 events

1. 2026-04-15
   status Pending
2. 2026-04-08
   status Active
3. 2026-03-27
   status Pending
4. 2026-03-25
   price $64,900
5. 2025-12-16
   listed $84,900 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: $394 · $33/mo
• Projected year-2 tax: $473 · $39/mo
• Expected delta: +$79/yr (+$7/mo · 20.1%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,622
• − Mortgage interest: −$3,635
• − Property taxes: −$394
• − Insurance: −$324
• − Repairs & maintenance: −$1,170
• − Management: −$1,170
• − Depreciation: −$1,888
• Taxable income: $6,041
• Est. tax owed @ 24.0%: −$1,450
• After-tax cash flow: $5,299/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: North Spencer County School Corporation
• NCES district ID: 1808010
• Math proficiency: 64% ▼ -7.00%
• Reading proficiency: 63% ▼ -6.00%
• Median HH income: $58,055
• Composite: 54.76/100
• National rank: #1318
• State rank: #12 of 301 in IN

Livability — Newtonville

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

Census & demographics

• Census place: Newtonville, IN
• Population (ZIP): 1,683

Population outlook (Spencer County) Hauer SSP2

• Today (2025): 20,394 people
• By 2030: 19,912 · -2.4%
• By 2040: 18,592 · -8.8%
• By 2050: 17,051 · -16.4%
• By 2075: 14,010 · -31.3%
• By 2100: 10,869 · -46.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Hispanic / Latino 3% Black 1%
• Common ancestry: Slovak 1% Lithuanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Spencer

• 2024 margin: Solid R (+43.3) · D 27.4% · R 70.6% · Other 2.0%
• 2008→2024 swing: -43.6pp toward R · 2008: 0.4pp · 2024: -43.3pp
• All cycles: 2024: R+43.3 2020: R+38.5 2016: R+37.3 2012: R+15.3 2008: D+0.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.51%
• Current HPI: 208.3355
• 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

-23.6% since first listed

5 events — show timeline

• 2026-04-15 Pending — IRMLS
• 2026-04-08 Relisted — IRMLS
• 2026-03-27 Pending — IRMLS
• 2026-03-25 Price Changed $64,900 IRMLS
• 2025-12-16 Listed $84,900 IRMLS

Property tax history

+1.8%/yr

Latest (2024): $394 · +4.8% YoY. Source: county tax records.