3083 Van Bibber Lake Est · Van Bibber Lake, IN 46135

$70,000

3 bd · 2.0 ba · 924 sqft · SingleFamily · 89 Days on market

Built 1990 Fair condition 4,008 sqft lot $76/sqft · 54% below area $23/mo HOA · 2% of rent

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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
• Schools +4.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Livability +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This manufactured home at 3083 Van Bibber Lake EST, in GREENCASTLE, IN, USA, presenting a setting for sunny days ahead. This home has 3 bedrooms and 2 bathrooms. There is a shed that conveys.

Key facts

• 4,008 sq ft lot
• Built 1990
• Listed 89 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $70k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $617 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $66k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 43/100 on livability (#670 in IN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: employment D, schools F, amenities F.
• North Putnam Community Schools (rural): math 47% / reading 48% proficiency, ranked #73 of 301 in IN (top 24%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 98 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 (-3.0%/yr); year-one equity from $484 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 89 days — a 6% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 26y ago; this cycle's ask has dropped $5k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $65,800 (6.0% below list)

Questions for the listing agent

1. It's been on market 89 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 2.03% ✓
• Cap rate: 16.87%
• Cash-on-cash: 37.79%
• DSCR: 2.68
• GRM: 4.1

CMA / ARV

• ARV (median comp): $153,628
• List price: $70,000
• Delta: -54.44%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3041 Van Bibber Lk	0.08mi	2/1.0 (-1)	924 (0%)	23mo	$59,900	$65	68

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

Projected returns pro-forma

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

5-year hold

• IRR: 33.8%
• Equity multiple: 2.43×
• Total profit: $28,000
• Equity at exit: $10,437

10-year hold

• IRR: 40.7%
• Equity multiple: 4.83×
• Total profit: $75,141
• Equity at exit: $6,052

Cash invested: $19,600 (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 46135

• Home prices YoY: -20.8%
• Active inventory: 98
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,423 medium
• Mortgage (P&I): −$367
• Tax est. 1.5%: −$88 /mo · $1,050/yr
• Insurance: −$29
• HOA: −$23
• Vacancy / Maint / Mgmt: −$299
• Net cashflow: $617

Break-even live

Break-even rent $641

Max offer price $70,000

Occupancy floor 52%

Sensitivity live

Price	-10% $666	-5% $641	+0% $617	+5% $593	+10% $569
Rent	-10% $505	-5% $561	+0% $617	+5% $673	+10% $730
Rate	-1.0pp $652	-0.5pp $635	base $617	+0.5pp $599	+1.0pp $581

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $23 · $276/yr

Listing history 20 events

1. 2026-06-21
   days on market $70,000 Active 89 DOM
2. 2026-06-18
   days on market $70,000 Active 87 DOM
3. 2026-06-17
   days on market $70,000 Active 86 DOM
4. 2026-06-16
   days on market $70,000 Active 85 DOM
5. 2026-06-15
   days on market $70,000 Active 84 DOM
6. 2026-06-13
   days on market $70,000 Active 82 DOM
7. 2026-06-12
   days on market $70,000 Active 81 DOM
8. 2026-06-09
   days on market $70,000 Active 78 DOM
9. 2026-06-08
   days on market $70,000 Active 77 DOM
10. 2026-06-07
    days on market $70,000 Active 76 DOM
11. 2026-06-05
    days on market $70,000 Active 74 DOM
12. 2026-06-04
    days on market $70,000 Active 72 DOM
13. 2026-06-02
    days on market $70,000 Active 71 DOM
14. 2026-06-01
    days on market $70,000 Active 70 DOM
15. 2026-05-31
    days on market $70,000 Active 69 DOM
16. 2026-05-31
    days on market $70,000 Active 68 DOM
17. 2026-05-09
    price $70,000 191-char remark

    Show marketing remark (191 chars)

    This manufactured home at 3083 Van Bibber Lake EST, in GREENCASTLE, IN, USA, presenting a setting for sunny days ahead. This home has 3 bedrooms and 2 bathrooms. There is a shed that conveys.

18. 2026-03-23
    listed $75,000 Active 191-char remark

    Show marketing remark (191 chars)

    This manufactured home at 3083 Van Bibber Lake EST, in GREENCASTLE, IN, USA, presenting a setting for sunny days ahead. This home has 3 bedrooms and 2 bathrooms. There is a shed that conveys.

19. 2001-07-02
    historical
20. 2000-11-17
    listed $32,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 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 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,072
• − Mortgage interest: −$3,921
• − Property taxes: −$1,050
• − Insurance: −$350
• − Repairs & maintenance: −$1,366
• − Management: −$1,366
• − HOA: −$276
• − Depreciation: −$2,036
• Taxable income: $6,707
• Est. tax owed @ 24.0%: −$1,610
• After-tax cash flow: $5,796/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

Fair 45/100 Moderate rehab

This manufactured home requires moderate renovations to improve its condition and increase its value for resale or rental.

Repairs flagged

• Major exterior siding — Significant wear and tear
• Major interior walls — Worn wallpaper
• Major kitchen cabinets — Worn condition

Value-add opportunities

• Both Paint interior walls — Enhances curb appeal and interior aesthetics
• Both Replace carpet — Improves comfort and reduces maintenance
• Both Replace kitchen cabinets — Modernizes the space and increases functionality

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant wear and tear	Major	$15,000–50,000
interior walls · Worn wallpaper	Major	$15,000–50,000
kitchen cabinets · Worn condition	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both Paint interior walls — Enhances curb appeal and interior aesthetics ↑
• Both Replace carpet — Improves comfort and reduces maintenance ↑
• Both Replace kitchen cabinets — Modernizes the space and increases functionality ↑

ⓘ 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: North Putnam Community Schools
• NCES district ID: 1807980
• Math proficiency: 47% ▼ -12.00%
• Reading proficiency: 48% ▼ -8.00%
• Median HH income: $54,825
• Composite: 41.18/100
• National rank: #3549
• State rank: #73 of 301 in IN

Livability — Van Bibber Lake

• Score: 43/100
• State rank: #670
• US rank: #26940

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Van Bibber Lake, IN
• Population (ZIP): 19,639

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 (86%)
• Race & ethnicity: White 86% Black 6% Two or more races 4% Hispanic / Latino 3% Asian 2%
• Common ancestry: Italian 2% Slovak 2% Lithuanian 1%
• Foreign-born: 4% · China, Canada
• Languages at home: 96% English-only · Spanish 1% French/Haitian/Cajun 1% Other Indo-European 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: ▼ -58.66%
• Current HPI: 222.8815
• 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

+118.8% since first listed

4 events — show timeline

• 2026-05-09 Price Changed $70,000 MIBOR as Distributed by MLS Grid
• 2026-03-23 Listed $75,000 MIBOR as Distributed by MLS Grid
• 2001-07-02 Listing Removed — MIBOR as Distributed by MLS Grid
• 2000-11-17 Listed $32,000 MIBOR as Distributed by MLS Grid