The Hampton Plan · Michigan City, IN 46360

$92,500

3 bd · 2.0 ba · 1,153 sqft · Manufactured · 829 Days on market

Excellent condition $575/mo HOA · 40% of rent

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Why this score? — see what drove the D 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).

• 1% rule +10.0/10.0
• Cash flow +9.0/30.0
• ARV discount +7.5/15.0
• Rent growth +4.9/5.0
• Condition / age +4.8/5.0
• Livability +4.0/5.0
• DSCR +2.5/10.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this brand new beautiful uptown style home. . from the moment you walk in you will fall in love. .. . The kitchen boasts and amazing island that seats five and leaving plenty of space for a full size kitchen table. .. . The open concept living room is great so you never miss a family moment. The master bedroom is located at one end of the home for complete privacy with walk in closet and full bathroom. .. with optional bathtub or standup shower. The other two bedrooms are located at the other end of the home and adjacent to the second full bathroom. This home is fully customizable to your dream home desires.

Key facts

• Listed 829 days

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $92k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-73 ($-881/yr) — negative.
• To cash-flow at today's rent, offer at most $82k (11.5% below list).
• Meets the 1% rule at list price ($1k rent vs $92k).
• Recommended offer: $81k (12.0% below list) — sets the bar for market timing.
• Cap rate 5.3% vs local median 2.9% in Michigan City — 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 81/100 on livability (#15 in IN, #1,317 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: employment D, schools D-, amenities D-.
• 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); 377 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 $640 of loan paydown is wiped out by about $3k 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 $26k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 829 days — a 12% lower offer ($81k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 40% of rent.

Recommended offer $81,400 (12.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 829 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
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 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 5.34%
• Cash-on-cash: -3.40%
• DSCR: 0.85
• GRM: 5.3

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: -11.4%
• Equity multiple: 0.55×
• Total profit: $-11,659
• Equity at exit: $13,792

10-year hold

• IRR: 7.4%
• Equity multiple: 1.78×
• Total profit: $20,084
• Equity at exit: $7,998

Cash invested: $25,900 (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: 377
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,444 medium
• Mortgage (P&I): −$485
• Tax est. 1.5%: −$116 /mo · $1,388/yr
• Insurance: −$39
• HOA: −$575
• Vacancy / Maint / Mgmt: −$303
• Net cashflow: $-73

Break-even live

Break-even rent $1,537

Max offer price $81,874

Occupancy floor —

Sensitivity live

Price	-10% $-10	-5% $-41	+0% $-73	+5% $-105	+10% $-137
Rent	-10% $-188	-5% $-130	+0% $-73	+5% $-16	+10% $41
Rate	-1.0pp $-27	-0.5pp $-50	base $-73	+0.5pp $-97	+1.0pp $-122

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: $23,125
• Closing costs: $2,775
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $575 · $6,900/yr

Listing history 22 events

1. 2026-06-21
   days on market $92,500 Active 829 DOM
2. 2026-06-18
   days on market $92,500 Active 826 DOM
3. 2026-06-17
   days on market $92,500 Active 825 DOM
4. 2026-06-16
   days on market $92,500 Active 824 DOM
5. 2026-06-15
   days on market $92,500 Active 823 DOM
6. 2026-06-14
   days on market $92,500 Active 821 DOM
7. 2026-06-13
   days on market $92,500 Active 820 DOM
8. 2026-06-10
   days on market $92,500 Active 818 DOM
9. 2026-06-09
   days on market $92,500 Active 817 DOM
10. 2026-06-08
    days on market $92,500 Active 816 DOM
11. 2026-06-07
    days on market $92,500 Active 815 DOM
12. 2026-06-03
    days on market $92,500 Active 811 DOM
13. 2026-06-02
    days on market $92,500 Active 810 DOM
14. 2026-06-01
    days on market $92,500 Active 809 DOM
15. 2026-05-31
    days on market $92,500 Active 808 DOM
16. 2026-05-30
    days on market $92,500 Active 807 DOM
17. 2025-12-03
    price $92,500 632-char remark

    Show marketing remark (632 chars)

    Welcome home to this brand new beautiful uptown style home. . from the moment you walk in you will fall in love. .. . The kitchen boasts and amazing island that seats five and leaving plenty of space for a full size kitchen table. .. . The open concept living room is great so you never miss a family moment. The master bedroom is located at one end of the home for complete privacy with walk in closet and full bathroom. .. with optional bathtub or standup shower. The other two bedrooms are located at the other end of the home and adjacent to the second full bathroom. This home is fully customizable to your dream home desires.

18. 2025-12-02
    price $85,000 632-char remark

    Show marketing remark (632 chars)

    Welcome home to this brand new beautiful uptown style home. . from the moment you walk in you will fall in love. .. . The kitchen boasts and amazing island that seats five and leaving plenty of space for a full size kitchen table. .. . The open concept living room is great so you never miss a family moment. The master bedroom is located at one end of the home for complete privacy with walk in closet and full bathroom. .. with optional bathtub or standup shower. The other two bedrooms are located at the other end of the home and adjacent to the second full bathroom. This home is fully customizable to your dream home desires.

19. 2025-12-02
    price $92,500 632-char remark

    Show marketing remark (632 chars)

    Welcome home to this brand new beautiful uptown style home. . from the moment you walk in you will fall in love. .. . The kitchen boasts and amazing island that seats five and leaving plenty of space for a full size kitchen table. .. . The open concept living room is great so you never miss a family moment. The master bedroom is located at one end of the home for complete privacy with walk in closet and full bathroom. .. with optional bathtub or standup shower. The other two bedrooms are located at the other end of the home and adjacent to the second full bathroom. This home is fully customizable to your dream home desires.

20. 2025-04-04
    price $85,000 632-char remark

    Show marketing remark (632 chars)

    Welcome home to this brand new beautiful uptown style home. . from the moment you walk in you will fall in love. .. . The kitchen boasts and amazing island that seats five and leaving plenty of space for a full size kitchen table. .. . The open concept living room is great so you never miss a family moment. The master bedroom is located at one end of the home for complete privacy with walk in closet and full bathroom. .. with optional bathtub or standup shower. The other two bedrooms are located at the other end of the home and adjacent to the second full bathroom. This home is fully customizable to your dream home desires.

21. 2025-03-22
    price $82,500 632-char remark

    Show marketing remark (632 chars)

    Welcome home to this brand new beautiful uptown style home. . from the moment you walk in you will fall in love. .. . The kitchen boasts and amazing island that seats five and leaving plenty of space for a full size kitchen table. .. . The open concept living room is great so you never miss a family moment. The master bedroom is located at one end of the home for complete privacy with walk in closet and full bathroom. .. with optional bathtub or standup shower. The other two bedrooms are located at the other end of the home and adjacent to the second full bathroom. This home is fully customizable to your dream home desires.

22. 2024-03-14
    listed $79,999 Active 632-char remark

    Show marketing remark (632 chars)

    Welcome home to this brand new beautiful uptown style home. . from the moment you walk in you will fall in love. .. . The kitchen boasts and amazing island that seats five and leaving plenty of space for a full size kitchen table. .. . The open concept living room is great so you never miss a family moment. The master bedroom is located at one end of the home for complete privacy with walk in closet and full bathroom. .. with optional bathtub or standup shower. The other two bedrooms are located at the other end of the home and adjacent to the second full bathroom. This home is fully customizable to your dream home desires.

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥100°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,329
• − Mortgage interest: −$5,181
• − Property taxes: −$1,388
• − Insurance: −$462
• − Repairs & maintenance: −$1,386
• − Management: −$1,386
• − HOA: −$6,900
• − Depreciation: −$2,691
• Taxable loss: −$2,066
• Est. tax savings @ 24.0%: +$496
• After-tax cash flow: $-385/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

Excellent 95/100 None rehab

This home is in excellent condition with a modern kitchen, good flooring, and a well-maintained exterior. It is move-in ready and would benefit from a fresh coat of paint and landscaping improvements.

Value-add opportunities

• Resale Painting the interior walls — Fresh paint can enhance the home's curb appeal and make it more inviting
• Rental Landscaping improvements — A well-maintained yard can attract more renters and increase rental value

Renovation cost estimate screening

Value-add ROI direction

• Resale Painting the interior walls — Fresh paint can enhance the home's curb appeal and make it more inviting ↑
• Rental Landscaping improvements — A well-maintained yard can attract more renters and increase rental value ↑

ⓘ 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 — Michigan City

• Score: 81/100
• State rank: #15
• US rank: #1317

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Michigan City, IN
• County: La Porte County · 88,580 people
• City population: 43,817
• 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

+15.6% since first listed

6 events — show timeline

• 2025-12-03 Price Changed $92,500 Zillow
• 2025-12-02 Price Changed $85,000 Zillow
• 2025-12-02 Price Changed $92,500 Zillow
• 2025-04-04 Price Changed $85,000 Zillow
• 2025-03-22 Price Changed $82,500 Zillow
• 2024-03-14 Listed $79,999 Zillow