7735 W Swick Rd Rd

Beaver Dam, IN 46510

$69,000B-

2 bd · 1.0 ba · 905 sqft · Built 1988 · Manufactured · Active · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $889/mo
• Mortgage (P&I): −$362
• Tax + insurance: −$65
• HOA: −$0
• Vac / Maint / Mgmt: −$187
• Net cashflow: $275/mo
• Annual: $3,300/yr
• Cap rate: 11.08%
• Cash-on-cash: 17.08%
• DSCR: 1.76
• 1% rule: 1.29%
• Cash to close: $19,320

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $69k.
• At list price, monthly cash flow is $275 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($889 rent vs $69k).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Tippecanoe Valley School Corporation (rural): math 40% / reading 42% proficiency, ranked #126 of 301 in IN (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Akron Elementary School (math 37% / reading 37%, grade F, #550 of 994 statewide, top 57%, 385 students, 56% FRL).
• Market conditions: 8 active listings in the ZIP; 261 units permitted in Kosciusko County in 2024 (10 in 5+ unit buildings).
• Kosciusko County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts since 3y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $48k; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~8 years — after that, you're playing with house money.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
• What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
• Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
• 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.
• 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.
• 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.