8730 Sweetwater Trl · Cordry Sweetwater Lakes, IN 46164

$89,900

3 bd · 2.0 ba · 1,288 sqft · Manufactured public records · 5 Days on market

Built 2011 2.00 ac lot

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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
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• ARV discount +7.5/15.0
• Schools +3.7/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Home needs work. Large 2 car detached garage. Home is sold as-is. Proof of funds or pre-approval letter must accompany all offers.

Key facts

• Newer furnace
• Attached workshop
• Central air

Tags

• 2 BEAUTIFUL ACRES
• NEWER FURNACE
• CENTRAL AIR
• LARGE BARN
• ATTACHED WORKSHOP
• FENCED ACROSS THE BACK

Property features AI

Exterior

• Parking: Detached 3-car garage (864 sq ft)
• Utilities: Private water; Septic sewage
• Home design: Manufactured home; Attached property; Single-story
• Construction: Block foundation; Other construction materials
• Exterior features: Approximately 2 acres (1–3 acres range)

Interior

• Kitchen: Kitchen on main level
• Bedrooms: Three bedrooms on the main level; Primary bedroom includes a sitting room
• Bathrooms: Two full bathrooms; Primary bathroom with full shower stall
• Heating & cooling: Electric forced-air heating; Central air conditioning
• Interior features: Built-in features; Water heater
• Laundry & utility: In-unit laundry plus common laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $90k.

Deal economics

• At list price, monthly cash flow is $429 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Cap rate 12.0% vs local median 1.2% in Cordry Sweetwater Lakes — 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 67/100 on livability (#255 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Brown County School Corporation (rural): math 37% / reading 48% proficiency, ranked #113 of 301 in IN (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Brown County High School (math 27% / reading 67%, grade D-, #143 of 369 statewide, top 44%, 509 students, 48% FRL).
• Market conditions: 76 active listings in the ZIP; 76 units permitted in Brown County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Brown County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 23y ago 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.
• Current owner paid $19k; list at $90k implies a 376% gain — meaningful room to come down on a strong offer.

Recommended offer $89,900

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. 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?
3. 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.
4. 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.
5. 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: 1.34% ✓
• Cap rate: 12.02%
• Cash-on-cash: 20.44%
• DSCR: 1.91
• GRM: 6.2

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: 12.7%
• Equity multiple: 1.50×
• Total profit: $12,702
• Equity at exit: $13,404

10-year hold

• IRR: 21.6%
• Equity multiple: 2.83×
• Total profit: $46,061
• Equity at exit: $7,773

Cash invested: $25,172 (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 46164

• Active inventory: 76
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,208 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$17 /mo · $200/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $429

Break-even live

Break-even rent $665

Max offer price $89,900

Occupancy floor 60%

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-09
   statusdays on market $89,900 Pending 5 DOM
2. 2026-06-08
   days on market $89,900 Active 4 DOM
3. 2026-06-07
   days on market $89,900 Active 3 DOM
4. 2026-06-05
   remarks 699-char remark
5. 2026-06-05
   listed $89,900 Active 1 DOM

ⓘ 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: $200 · $17/mo
• Projected year-2 tax: $482 · $40/mo
• Expected delta: +$282/yr (+$23/mo · 140.8%)

ⓘ 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 3/10 Moderate 7 d/yr ≥102°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,497
• − Mortgage interest: −$5,036
• − Property taxes: −$200
• − Insurance: −$450
• − Repairs & maintenance: −$1,160
• − Management: −$1,160
• − Depreciation: −$2,615
• Taxable income: $3,877
• Est. tax owed @ 24.0%: −$930
• After-tax cash flow: $4,215/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: Brown County School Corporation
• NCES district ID: 1800960
• Math proficiency: 37% ▼ -15.00%
• Reading proficiency: 48% ▼ -6.00%
• Median HH income: $53,070
• Composite: 36.82/100
• National rank: #4563
• State rank: #113 of 301 in IN

Livability — Cordry Sweetwater Lakes

• Score: 67/100
• State rank: #255
• US rank: #10835

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 3,991
• Population (ZIP): 3,991

Population outlook (Brown County) Hauer SSP2

• Today (2025): 14,677 people
• By 2030: 14,458 · -1.5%
• By 2040: 13,727 · -6.5%
• By 2050: 12,841 · -12.5%
• By 2075: 11,232 · -23.5%
• By 2100: 9,129 · -37.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 2% Pacific Islander 1%
• Common ancestry: Romanian 3% Lithuanian 2% Slovak 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Brown

• 2024 margin: Solid R (+32.6) · D 32.8% · R 65.5% · Other 1.7%
• 2008→2024 swing: -30.1pp toward R · 2008: -2.5pp · 2024: -32.6pp
• All cycles: 2024: R+32.6 2020: R+30.5 2016: R+31.6 2012: R+16.8 2008: R+2.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -129.89%
• Current HPI: 218.3894
• 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

+375.7% since first listed

3 events — show timeline

• 2026-06-04 Listed $89,900 MIBOR as Distributed by MLS Grid
• 2003-05-22 Sold (MLS) $18,900 MIBOR as Distributed by MLS Grid
• 2003-04-28 Listed $18,900 MIBOR as Distributed by MLS Grid

Property tax history

-10.5%/yr

Latest (2025): $200 · -2.4% YoY. Source: county tax records.