9801 US Highway 12 #75 · Michiana Shores, IN 46360

$69,000

3 bd · 2.0 ba · 1,140 sqft · Manufactured · 83 Days on market

Built 2026 Good condition ↓ 7% 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
• 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 newest model from Clayton, the Clear Choice Harbor View! This spacious 3-bedroom, 2-bathroom home combines modern design with comfortable living. Enjoy a large, open living room perfect for gatherings, and a kitchen with a convenient island for cooking and entertaining. The master suite features a luxurious walk-in shower, while the second bathroom offers a large bathtub for relaxing soaks. Step outside onto the expansive deck and take in the fresh air-perfect for morning coffee or evening relaxation. With thoughtful design and modern amenities, the Clear Choice Harbor View is move-in ready and ideal for anyone seeking style, space, and comfort.

Key facts

• Open living room
• Walk-in shower
• Kitchen island

Tags

• OPEN LIVING ROOM
• KITCHEN ISLAND
• WALK-IN SHOWER
• EXPANSIVE DECK

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $69k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $665 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $69k).
• Recommended offer: $65k (6.0% 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); 371 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 $477 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 $19k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($65k) is reasonable based on typical stale-listing flexibility.

Recommended offer $64,859 (6.0% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 6% 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: 2.10% ✓
• Cap rate: 17.86%
• Cash-on-cash: 41.32%
• DSCR: 2.84
• GRM: 4.0

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: 43.5%
• Equity multiple: 3.01×
• Total profit: $38,847
• Equity at exit: $10,288

10-year hold

• IRR: 51.7%
• Equity multiple: 7.38×
• Total profit: $123,242
• Equity at exit: $5,966

Cash invested: $19,320 (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: 371
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,446 medium
• Mortgage (P&I): −$362
• Tax est. 1.5%: −$86 /mo · $1,035/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $665

Break-even live

Break-even rent $604

Max offer price $69,000

Occupancy floor 49%

Sensitivity live

Price	-10% $713	-5% $689	+0% $665	+5% $641	+10% $618
Rent	-10% $551	-5% $608	+0% $665	+5% $722	+10% $779
Rate	-1.0pp $700	-0.5pp $683	base $665	+0.5pp $647	+1.0pp $629

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-16
   days on market $69,000 Active 83 DOM
2. 2026-06-15
   days on market $69,000 Active 82 DOM
3. 2026-06-14
   days on market $69,000 Active 80 DOM
4. 2026-06-13
   days on market $69,000 Active 79 DOM
5. 2026-06-10
   days on market $69,000 Active 77 DOM
6. 2026-06-09
   days on market $69,000 Active 76 DOM
7. 2026-06-08
   days on market $69,000 Active 75 DOM
8. 2026-06-07
   days on market $69,000 Active 74 DOM
9. 2026-06-03
   days on market $69,000 Active 70 DOM
10. 2026-06-02
    days on market $69,000 Active 69 DOM
11. 2026-06-01
    days on market $69,000 Active 68 DOM
12. 2026-05-31
    days on market $69,000 Active 67 DOM
13. 2026-05-30
    days on market $69,000 Active 66 DOM
14. 2026-04-15
    price $69,000 669-char remark

    Show marketing remark (669 chars)

    Introducing the newest model from Clayton, the Clear Choice Harbor View! This spacious 3-bedroom, 2-bathroom home combines modern design with comfortable living. Enjoy a large, open living room perfect for gatherings, and a kitchen with a convenient island for cooking and entertaining. The master suite features a luxurious walk-in shower, while the second bathroom offers a large bathtub for relaxing soaks. Step outside onto the expansive deck and take in the fresh air-perfect for morning coffee or evening relaxation. With thoughtful design and modern amenities, the Clear Choice Harbor View is move-in ready and ideal for anyone seeking style, space, and comfort.

15. 2026-03-25
    listed $74,000 Active 669-char remark

    Show marketing remark (669 chars)

    Introducing the newest model from Clayton, the Clear Choice Harbor View! This spacious 3-bedroom, 2-bathroom home combines modern design with comfortable living. Enjoy a large, open living room perfect for gatherings, and a kitchen with a convenient island for cooking and entertaining. The master suite features a luxurious walk-in shower, while the second bathroom offers a large bathtub for relaxing soaks. Step outside onto the expansive deck and take in the fresh air-perfect for morning coffee or evening relaxation. With thoughtful design and modern amenities, the Clear Choice Harbor View is move-in ready and ideal for anyone seeking style, space, and comfort.

ⓘ 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: $17,347
• − Mortgage interest: −$3,865
• − Property taxes: −$1,035
• − Insurance: −$345
• − Repairs & maintenance: −$1,388
• − Management: −$1,388
• − Depreciation: −$2,007
• Taxable income: $7,320
• Est. tax owed @ 24.0%: −$1,757
• After-tax cash flow: $6,226/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 move-in ready manufactured home offers a spacious and modern living space with good condition and minimal repairs needed. Upgrades in paint, flooring, and appliances can significantly enhance its value.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics.
• Both Updating the flooring — New flooring can improve the overall look and feel of the home.
• Both Upgrading the kitchen appliances — Modern appliances can increase the home's appeal and functionality.
• Both Adding smart home features — Smart home features can increase the home's value and appeal to tech-savvy buyers/renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics. ↑
• Both Updating the flooring — New flooring can improve the overall look and feel of the home. ↑
• Both Upgrading the kitchen appliances — Modern appliances can increase the home's appeal and functionality. ↑
• Both Adding smart home features — Smart home features can increase the home's value and appeal to tech-savvy buyers/renters. ↑

ⓘ 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

-6.8% since first listed

2 events — show timeline

• 2026-04-15 Price Changed $69,000 Zillow
• 2026-03-25 Listed $74,000 Zillow