570 E Tennyson Rd · Boonville, IN 47601

$149,900

4 bd · 1.0 ba · 1,620 sqft · Manufactured public records · 37 Days on market

Manufactured home Built 1987 2.00 ac lot $93/sqft · 15% below area Est $176k · 15% under

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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).

• ARV discount +14.3/15.0
• Cash flow +10.0/30.0
• Schools +4.9/10.0
• Livability +3.3/5.0
• DSCR +2.8/10.0
• 1% rule +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Great opportunity to buy this ranch style manufactured home on a block foundation with a crawlspace, built in 1987, located in Boone Township near Boonville, IN with a 2 car detached garage and coming with 2 parcels totaling 2 acres. The interior has 1620 sq. ft. with 4 bedrooms and 2.5 bathrooms, living room, family room with fireplace plus a screened in back porch and covered front porch.

Key facts

• Covered front porch
• Crawlspace
• 1.5 acre lot

Tags

• RANCH STYLE MANUFACTURED HOME
• BLOCK FOUNDATION
• CRAWLSPACE
• SCREENED IN BACK PORCH
• COVERED FRONT PORCH
• 1.5 ACRE LOT

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Private well water; Septic tank sewer
• Home design: Manufactured residential home; Single-story
• Construction: Vinyl siding; Block foundation; Built as a manufactured home
• Exterior features: Shingle roof; Lot includes approximately 2 acres; Lot listed with other/unspecified features

Interior

• Bathrooms: Two full bathrooms and one half bathroom (all on the main level)
• Heating & cooling: Electric heating; No central cooling listed
• Interior features: One fireplace located in the family room; Crawl space basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath manufactured listed at $150k.

Deal economics

• At list price, monthly cash flow is $-91 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $134k (10.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $113k (24.6% below list).
• Recommended offer: $113k (24.6% below list) — sets the bar for 1% rule.
• Cap rate 5.6% vs local median 3.5% in Boonville — 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 66/100 on livability (#278 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D+, amenities F, commute F.
• Warrick County School Corporation (suburban): math 54% / reading 59% proficiency, ranked #24 of 301 in IN (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Loge Elementary School (math 67% / reading 62%, grade B, #78 of 994 statewide, top 9%, 404 students, 54% FRL); Boonville Middle School (math 37% / reading 47%, grade D-, #102 of 330 statewide, top 32%, 700 students, 51% FRL); Boonville High School (math 32% / reading 60%, grade D-, #163 of 369 statewide, top 44%, 881 students, 44% FRL) — zoned schools average 49% FRL vs 24% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 160 active listings in the ZIP; 249 units permitted in Warrick County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Warrick County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.

Recommended offer $112,960 (24.6% 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 37 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. 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?
6. 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.
7. 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.
8. 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: 0.75% ✗
• Cap rate: 5.57%
• Cash-on-cash: -2.59%
• DSCR: 0.88
• GRM: 11.1

CMA / ARV

• ARV (median comp): $176,359
• List price: $149,900
• Delta: -15.00%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -20.6%
• Equity multiple: 0.28×
• Total profit: $-30,080
• Equity at exit: $22,351

10-year hold

• IRR: -13.9%
• Equity multiple: 0.20×
• Total profit: $-33,692
• Equity at exit: $12,961

Cash invested: $41,972 (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 47601

• Active inventory: 160
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $1,130 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$135 /mo · $1,614/yr
• Insurance: −$62
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$237
• Net cashflow: $-91

Break-even live

Break-even rent $1,244

Max offer price $133,883

Occupancy floor —

Sensitivity live

Price	-10% $-6	-5% $-48	+0% $-91	+5% $-133	+10% $-176
Rent	-10% $-180	-5% $-135	+0% $-91	+5% $-46	+10% $-1
Rate	-1.0pp $-15	-0.5pp $-53	base $-91	+0.5pp $-130	+1.0pp $-169

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-22
   days on market $149,900 Active 37 DOM
2. 2026-06-18
   days on market $149,900 Active 34 DOM
3. 2026-06-17
   days on market $149,900 Active 33 DOM
4. 2026-06-16
   remarks 393-char remark
5. 2026-06-16
   days on market $149,900 Active 32 DOM
6. 2026-06-15
   days on market $149,900 Active 31 DOM
7. 2026-06-14
   days on market $149,900 Active 29 DOM
8. 2026-06-13
   days on market $149,900 Active 28 DOM
9. 2026-06-10
   days on market $149,900 Active 26 DOM
10. 2026-06-09
    days on market $149,900 Active 25 DOM
11. 2026-06-08
    days on market $149,900 Active 24 DOM
12. 2026-06-07
    pricedays on market $149,900 Active 23 DOM
13. 2026-06-02
    days on market $159,900 Active 18 DOM
14. 2026-06-01
    days on market $159,900 Active 17 DOM
15. 2026-05-31
    days on market $159,900 Active 16 DOM
16. 2026-05-30
    days on market $159,900 Active 15 DOM
17. 2026-05-15
    listed $159,900 Active 380-char remark
18. 2026-02-19
    soldstatus $136,421

ⓘ 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: $1,614 · $135/mo
• Projected year-2 tax: $1,614 · $135/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥106°F today · 18 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,555
• − Mortgage interest: −$8,397
• − Property taxes: −$1,614
• − Insurance: −$750
• − Repairs & maintenance: −$1,084
• − Management: −$1,084
• − Depreciation: −$4,361
• Taxable loss: −$3,735
• Est. tax savings @ 24.0%: +$896
• After-tax cash flow: $-192/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: Warrick County School Corporation
• NCES district ID: 1812390
• Math proficiency: 54% ▼ -8.00%
• Reading proficiency: 59% ▼ -6.00%
• Median HH income: $62,801
• Composite: 49.38/100
• National rank: #2014
• State rank: #24 of 301 in IN

Livability — Boonville

• Score: 66/100
• State rank: #278
• US rank: #11520

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 13,119

Population outlook (Warrick County) Hauer SSP2

• Today (2025): 66,569 people
• By 2030: 68,404 · +2.8%
• By 2040: 71,131 · +6.9%
• By 2050: 72,743 · +9.3%
• By 2075: 76,088 · +14.3%
• By 2100: 72,261 · +8.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Italian 1% Lithuanian 1%
• Foreign-born: 0% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Warrick

• 2024 margin: Solid R (+30.2) · D 34.1% · R 64.3% · Other 1.5%
• 2008→2024 swing: -17.4pp toward R · 2008: -12.8pp · 2024: -30.2pp
• All cycles: 2024: R+30.2 2020: R+27.8 2016: R+33.9 2012: R+26.6 2008: R+12.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -119.46%
• Current HPI: 207.7817
• 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

+9.9% since first listed

3 events — show timeline

• 2026-06-05 Price Changed $149,900 IRMLS
• 2026-05-15 Listed $159,900 IRMLS
• 2026-02-19 Sold (Public Records) $136,421 Public Records

Property tax history

+11.8%/yr

Latest (2024): $1,614 · +132.3% YoY. Source: county tax records.