402 Mallard Dr SE · DeMotte, IN 46760

$69,999

3 bd · 2.0 ba · 1,216 sqft · Manufactured · 115 Days on market

Built 2026 Poor condition

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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 +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.4/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +1.0/5.0

Listing remarks MLS

Brand-New 3 Bedroom / 2 Bathroom Homes - Rent to Own in DeMotte! Rent to Own Opportunity: Move in for just $3,000 down and monthly payments of $1,250. Looking for an affordable path to homeownership? Discover our beautiful new homes in DeMotte, built with comfort and convenience in mind! Contact us for more details on rent to own or to purchase we work with lenders who require 10% down. ✨ Home Features: Spacious 3 bedrooms, 2 full bathrooms Modern, open-concept floor plan Energy-efficient appliances and contemporary finishes Private driveway and yard space Move-in ready - everything brand new!

Key facts

• Built 2026
• Listed 114 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $70k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $380 ($5k/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: $64k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.8% vs local median 2.4% in DeMotte — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Kankakee Valley School Corporation (rural): math 47% / reading 54% proficiency, ranked #45 of 301 in IN (top 15%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 4 active listings in the ZIP; 93 units permitted in Jasper County in 2024 (5 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($484 loan paydown + $7k appreciation (10.0% local appreciation)).
• Jasper County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 115 days — a 9% lower offer ($64k) is reasonable based on typical stale-listing flexibility.

Recommended offer $63,699 (9.0% below list)

Questions for the listing agent

1. It's been on market 115 days. Have you received any prior offers? Is the seller open to a 9% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.56% ✓
• Cap rate: 12.80%
• Cash-on-cash: 23.24%
• DSCR: 2.03
• GRM: 5.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 41.7%
• Equity multiple: 4.18×
• Total profit: $62,318
• Equity at exit: $63,061

10-year hold

• IRR: 36.0%
• Equity multiple: 9.39×
• Total profit: $164,535
• Equity at exit: $135,993

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 46760

• Home prices YoY: 11.2%
• Active inventory: 4
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,093 medium
• Mortgage (P&I): −$367
• Tax est. 1.5%: −$87 /mo · $1,050/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$230
• Net cashflow: $380

Break-even live

Break-even rent $612

Max offer price $69,999

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

Listing history 16 events

1. 2026-06-18
   days on market $69,999 Active 115 DOM
2. 2026-06-17
   days on market $69,999 Active 114 DOM
3. 2026-06-16
   days on market $69,999 Active 113 DOM
4. 2026-06-15
   days on market $69,999 Active 112 DOM
5. 2026-06-13
   days on market $69,999 Active 110 DOM
6. 2026-06-12
   days on market $69,999 Active 109 DOM
7. 2026-06-09
   days on market $69,999 Active 106 DOM
8. 2026-06-08
   days on market $69,999 Active 105 DOM
9. 2026-06-07
   days on market $69,999 Active 104 DOM
10. 2026-06-05
    days on market $69,999 Active 102 DOM
11. 2026-06-04
    days on market $69,999 Active 100 DOM
12. 2026-06-02
    days on market $69,999 Active 99 DOM
13. 2026-06-01
    days on market $69,999 Active 98 DOM
14. 2026-05-31
    days on market $69,999 Active 97 DOM
15. 2026-05-31
    days on market $69,999 Active 96 DOM
16. 2026-02-24
    listed $69,999 Active 601-char remark

    Show marketing remark (601 chars)

    Brand-New 3 Bedroom / 2 Bathroom Homes - Rent to Own in DeMotte! Rent to Own Opportunity: Move in for just $3,000 down and monthly payments of $1,250. Looking for an affordable path to homeownership? Discover our beautiful new homes in DeMotte, built with comfort and convenience in mind! Contact us for more details on rent to own or to purchase we work with lenders who require 10% down. ✨ Home Features: Spacious 3 bedrooms, 2 full bathrooms Modern, open-concept floor plan Energy-efficient appliances and contemporary finishes Private driveway and yard space Move-in ready - everything brand new!

ⓘ 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 3/10 Moderate 7 d/yr ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,114
• − Mortgage interest: −$3,921
• − Property taxes: −$1,050
• − Insurance: −$350
• − Repairs & maintenance: −$1,049
• − Management: −$1,049
• − Depreciation: −$2,036
• Taxable income: $3,659
• Est. tax owed @ 24.0%: −$878
• After-tax cash flow: $3,677/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.

Condition & rehab AI · 2 photos

Poor 20/100 Extensive rehab

This manufactured home is in poor condition with significant repairs and maintenance needed, including roof replacement, siding and paint repair, HVAC system replacement, and landscaping improvements. The home is not move-in ready and requires extensive renovation to increase its resale or rental value.

Repairs flagged

• Major roof — The roof appears to be missing or damaged.
• Major siding — The siding is peeling and the paint is chipping.
• Major HVAC condensers — The HVAC condensers are in poor condition.
• Major landscaping — The landscaping is minimal and the curb appeal is low.
• Major interior walls/paint — The interior walls and paint are not visible in the photos, but the exterior condition suggests they may be in poor condition.
• Major windows — The windows are not visible in the photos, but the exterior condition suggests they may be in poor condition.
• Major systems — The systems are not visible in the photos, but the overall condition of the home suggests they may be in poor condition.

Value-add opportunities

• Both roof replacement — Replacing the roof would significantly improve the home's appearance and functionality.
• Both siding and paint repair — Repairing the siding and repainting would improve the home's curb appeal and functionality.
• Both HVAC system replacement — Replacing the HVAC system would improve the home's comfort and energy efficiency.
• Both landscaping and curb appeal improvements — Improving the landscaping and curb appeal would enhance the home's overall appearance and value.
• Both interior paint and repairs — Repainting and repairing the interior would improve the home's functionality and appearance.
• Both window repairs or replacements — Repairing or replacing the windows would improve the home's functionality and energy efficiency.
• Both system upgrades — Upgrading the systems would improve the home's functionality and energy efficiency.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · The roof appears to be missing or damaged.	Major	$15,000–50,000
siding · The siding is peeling and the paint is chipping.	Major	$15,000–50,000
HVAC condensers · The HVAC condensers are in poor condition.	Major	$15,000–50,000
landscaping · The landscaping is minimal and the curb appeal is low.	Major	$15,000–50,000
interior walls/paint · The interior walls and paint are not visible in the photos, but the exterior condition suggests they may be in poor condition.	Major	$15,000–50,000
windows · The windows are not visible in the photos, but the exterior condition suggests they may be in poor condition.	Major	$15,000–50,000
systems · The systems are not visible in the photos, but the overall condition of the home suggests they may be in poor condition.	Major	$15,000–50,000
Total estimated repair cost · 7 items		$105,000–350,000

Value-add ROI direction

• Both roof replacement — Replacing the roof would significantly improve the home's appearance and functionality. ↑
• Both siding and paint repair — Repairing the siding and repainting would improve the home's curb appeal and functionality. ↑
• Both HVAC system replacement — Replacing the HVAC system would improve the home's comfort and energy efficiency. ↑
• Both landscaping and curb appeal improvements — Improving the landscaping and curb appeal would enhance the home's overall appearance and value. ↑
• Both interior paint and repairs — Repainting and repairing the interior would improve the home's functionality and appearance. ↑
• Both window repairs or replacements — Repairing or replacing the windows would improve the home's functionality and energy efficiency. ↑
• Both system upgrades — Upgrading the systems would improve the home's functionality and energy efficiency. ↑

ⓘ 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: Kankakee Valley School Corporation
• NCES district ID: 1805280
• Math proficiency: 47% ▼ -3.00%
• Reading proficiency: 54% ▼ -1.00%
• Median HH income: $58,135
• Composite: 43.95/100
• National rank: #2901
• State rank: #45 of 301 in IN

Livability — DeMotte

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

Census & demographics

• Census place: DeMotte, IN
• Population (ZIP): 1,129

Population outlook (Jasper County) Hauer SSP2

• Today (2025): 33,185 people
• By 2030: 32,635 · -1.7%
• By 2040: 31,232 · -5.9%
• By 2050: 29,630 · -10.7%
• By 2075: 25,938 · -21.8%
• By 2100: 21,635 · -34.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (99%)
• Race & ethnicity: White 99% Hispanic / Latino 1% Two or more races 1%
• Common ancestry: Romanian 5% Italian 4% Lithuanian 2%

Political lean MEDSL · Jasper

• 2024 margin: Solid R (+54.3) · D 22.1% · R 76.4% · Other 1.6%
• 2008→2024 swing: -33.9pp toward R · 2008: -20.4pp · 2024: -54.3pp
• All cycles: 2024: R+54.3 2020: R+49.0 2016: R+45.4 2012: R+25.5 2008: R+20.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 27.76%
• Current HPI: 275.592
• 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

1 event — show timeline

• 2026-02-24 Listed $69,999 Zillow