4660 S Calloway Dr · Hardinsburg, IN 47125

$70,000

3 bd · 2.0 ba · 1,232 sqft · Manufactured public records · 42 Days on market

Built 2006 3.83 ac lot ↓ 20% since listing

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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
• Appreciation +6.4/10.0
• Livability +3.0/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Nearly 4 acres of private, wooded acreage at the end of a quiet road in Orange County. 3 bed / 2 bath home titled as real property with a 24x24 pole barn already on site. Sold as-is; property requires full renovation. Cash or hard money buyers welcome. The land and location are the story here.

Key facts

• Quiet road
• Pole barn
• Land and location

Tags

• PRIVATE WOODED ACREAGE
• QUIET ROAD
• POLE BARN
• FULL RENOVATION
• LAND AND LOCATION

What this means for you Summary

Snapshot

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

Deal economics

• At list price, monthly cash flow is $495 ($6k/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: $68k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#535 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, health & safety C-, amenities F.
• Paoli Community School Corporation (town): math 28% / reading 42% proficiency, ranked #200 of 301 in IN (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Throop Elementary School (math 36% / reading 36%, grade F, #577 of 994 statewide, top 59%, 712 students, 61% FRL); Paoli Jr & Sr High School (math 19% / reading 50%, grade F, #270 of 369 statewide, top 77%, 561 students, 55% FRL).
• Market conditions: 11 active listings in the ZIP; 54 units permitted in Orange County in 2024 (40 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($484 loan paydown + $2k appreciation (2.7% local appreciation)).
• Orange County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.7% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($68k) is reasonable based on typical stale-listing flexibility.

Recommended offer $67,900 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.70% ✓
• Cap rate: 14.78%
• Cash-on-cash: 30.32%
• DSCR: 2.35
• GRM: 4.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.73% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 35.7%
• Equity multiple: 2.99×
• Total profit: $38,980
• Equity at exit: $30,421

10-year hold

• IRR: 36.1%
• Equity multiple: 5.89×
• Total profit: $95,809
• Equity at exit: $46,079

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 47125

• Home prices YoY: 1.1%
• Active inventory: 11
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,193 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$51 /mo · $610/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$251
• Net cashflow: $495

Break-even live

Break-even rent $566

Max offer price $70,000

Occupancy floor 53%

Sensitivity live

Price	-10% $535	-5% $515	+0% $495	+5% $475	+10% $456
Rent	-10% $401	-5% $448	+0% $495	+5% $542	+10% $589
Rate	-1.0pp $531	-0.5pp $513	base $495	+0.5pp $477	+1.0pp $459

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 3 events

1. 2026-05-14
   price $80,000 294-char remark

   Show marketing remark (294 chars)

   Nearly 4 acres of private, wooded acreage at the end of a quiet road in Orange County. 3 bed / 2 bath home titled as real property with a 24x24 pole barn already on site. Sold as-is; property requires full renovation. Cash or hard money buyers welcome. The land and location are the story here.

2. 2026-05-07
   price $90,000 294-char remark

   Show marketing remark (294 chars)

   Nearly 4 acres of private, wooded acreage at the end of a quiet road in Orange County. 3 bed / 2 bath home titled as real property with a 24x24 pole barn already on site. Sold as-is; property requires full renovation. Cash or hard money buyers welcome. The land and location are the story here.

3. 2026-04-17
   listed $100,000 Active 294-char remark

   Show marketing remark (294 chars)

   Nearly 4 acres of private, wooded acreage at the end of a quiet road in Orange County. 3 bed / 2 bath home titled as real property with a 24x24 pole barn already on site. Sold as-is; property requires full renovation. Cash or hard money buyers welcome. The land and location are the story here.

ⓘ 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: $610 · $51/mo
• Projected year-2 tax: $610 · $51/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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥105°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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,314
• − Mortgage interest: −$3,921
• − Property taxes: −$610
• − Insurance: −$350
• − Repairs & maintenance: −$1,145
• − Management: −$1,145
• − Depreciation: −$2,036
• Taxable income: $5,106
• Est. tax owed @ 24.0%: −$1,226
• After-tax cash flow: $4,718/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: Paoli Community School Corporation
• NCES district ID: 1808640
• Math proficiency: 28% ▼ -14.00%
• Reading proficiency: 42% ▼ -5.00%
• Median HH income: $38,333
• Composite: 29.18/100
• National rank: #6571
• State rank: #200 of 301 in IN

Livability — Hardinsburg

• Score: 60/100
• State rank: #535
• US rank: #19242

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,684

Population outlook (Orange County) Hauer SSP2

• Today (2025): 18,948 people
• By 2030: 18,479 · -2.5%
• By 2040: 17,387 · -8.2%
• By 2050: 16,301 · -14.0%
• By 2075: 14,361 · -24.2%
• By 2100: 12,594 · -33.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Two or more races 2%
• Common ancestry: Lithuanian 3% Slovak 3% Romanian 2%
• Foreign-born: 0%
• Languages at home: 88% English-only · German/W. Germanic 11% Spanish 1%

Political lean MEDSL · Orange

• 2024 margin: Solid R (+52.1) · D 23.1% · R 75.3% · Other 1.6%
• 2008→2024 swing: -38.0pp toward R · 2008: -14.2pp · 2024: -52.1pp
• All cycles: 2024: R+52.1 2020: R+47.6 2016: R+45.8 2012: R+21.6 2008: R+14.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.73%
• Current HPI: 239.9813
• 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

-20.0% since first listed

3 events — show timeline

• 2026-05-14 Price Changed $80,000 IRMLS
• 2026-05-07 Price Changed $90,000 IRMLS
• 2026-04-17 Listed $100,000 IRMLS

Property tax history

+3.5%/yr

Latest (2024): $610 · +5.0% YoY. Source: county tax records.