ST RD 158 Rd · Bedford, IN 47421

$99,900

2 bd · 1.0 ba · 950 sqft · Manufactured · 265 Days on market

Built 1980 Fair condition 1.25 ac lot ↓ 13% since listing

---

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).

• Cash flow +18.0/30.0
• ARV discount +7.5/15.0
• DSCR +5.6/10.0
• 1% rule +4.8/10.0
• Livability +4.0/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Country charm on a paved road! This cozy 2-bedroom, 1-bath mobile home offers peaceful country living on a 1.25-acre lot. Enjoy the covered lean-to front porch overlooking the open yard, perfect for relaxing evenings. The home includes all appliances and sits on a nice property featuring a large 24’x30’ detached shop—ideal for storage, hobbies, or a small workspace. With plenty of potential and a quiet rural setting, this property is being sold " AS IS " and is ready for its next owner to make it a home.

Key facts

• Large detached shop
• Open yard
• 1.25 acre lot

Tags

• COVERED LEAN-TO FRONT PORCH
• LARGE DETACHED SHOP
• OPEN YARD

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $100k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $20 ($236/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $98k (1.6% below list).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.3% vs local median 4.2% in Bedford — 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 80/100 on livability (#23 in IN, #1,958 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: schools C-, employment D, commute F.
• North Lawrence Community Schools (rural): math 35% / reading 40% proficiency, ranked #170 of 301 in IN (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 159 active listings in the ZIP; 8 units permitted in Lawrence County in 2024 (0 in 5+ unit buildings).
• This rent is only 17% of the median local income ($68k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Lawrence County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 265 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $87,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 265 days. Have you received any prior offers? Is the seller open to a 12% 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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?
7. 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.
8. 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.
9. 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: 0.98% ✗
• Cap rate: 7.33%
• Cash-on-cash: 3.69%
• DSCR: 1.16
• GRM: 8.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -14.9%
• Equity multiple: 0.47×
• Total profit: $-14,881
• Equity at exit: $14,895

10-year hold

• IRR: -6.2%
• Equity multiple: 0.60×
• Total profit: $-11,121
• Equity at exit: $8,638

Cash invested: $27,972 (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 47421

• Home prices YoY: -25.2%
• Active inventory: 159
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $983 medium
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,498/yr
• Insurance: −$42
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$206
• Net cashflow: $20

Break-even live

Break-even rent $958

Max offer price $99,900

Occupancy floor 93%

Sensitivity live

Price	-10% $89	-5% $54	+0% $20	+5% $-15	+10% $-49
Rent	-10% $-58	-5% $-19	+0% $20	+5% $58	+10% $97
Rate	-1.0pp $70	-0.5pp $45	base $20	+0.5pp $-6	+1.0pp $-33

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $99,900 Active 265 DOM
2. 2026-06-18
   days on market $99,900 Active 264 DOM
3. 2026-06-17
   days on market $99,900 Active 263 DOM
4. 2026-06-16
   days on market $99,900 Active 262 DOM
5. 2026-06-15
   days on market $99,900 Active 261 DOM
6. 2026-06-14
   days on market $99,900 Active 259 DOM
7. 2026-06-13
   days on market $99,900 Active 258 DOM
8. 2026-06-10
   days on market $99,900 Active 256 DOM
9. 2026-06-09
   days on market $99,900 Active 255 DOM
10. 2026-06-08
    days on market $99,900 Active 254 DOM
11. 2026-06-07
    days on market $99,900 Active 253 DOM
12. 2026-06-05
    days on market $99,900 Active 250 DOM
13. 2026-06-03
    days on market $99,900 Active 249 DOM
14. 2026-06-02
    days on market $99,900 Active 248 DOM
15. 2026-06-01
    days on market $99,900 Active 247 DOM
16. 2026-05-31
    days on market $99,900 Active 246 DOM
17. 2026-05-30
    days on market $99,900 Active 245 DOM
18. 2025-11-04
    price $99,900 537-char remark

    Show marketing remark (537 chars)

    Country charm on a paved road! This cozy 2-bedroom, 1-bath mobile home offers peaceful country living on a 1.25-acre lot. Enjoy the covered lean-to front porch overlooking the open yard, perfect for relaxing evenings. The home includes all appliances and sits on a nice property featuring a large 24’x30’ detached shop—ideal for storage, hobbies, or a small workspace. With plenty of potential and a quiet rural setting, this property is being sold " AS IS " and is ready for its next owner to make it a home.

19. 2025-09-27
    listed $114,900 Active 537-char remark

    Show marketing remark (537 chars)

    Country charm on a paved road! This cozy 2-bedroom, 1-bath mobile home offers peaceful country living on a 1.25-acre lot. Enjoy the covered lean-to front porch overlooking the open yard, perfect for relaxing evenings. The home includes all appliances and sits on a nice property featuring a large 24’x30’ detached shop—ideal for storage, hobbies, or a small workspace. With plenty of potential and a quiet rural setting, this property is being sold " AS IS " and is ready for its next owner to make it a home.

ⓘ 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 10/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥104°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,795
• − Mortgage interest: −$5,596
• − Property taxes: −$1,498
• − Insurance: −$1,297
• − Repairs & maintenance: −$944
• − Management: −$944
• − Depreciation: −$2,906
• Taxable loss: −$1,390
• Est. tax savings @ 24.0%: +$334
• After-tax cash flow: $569/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

Fair 45/100 Moderate rehab

This mobile home requires moderate repairs and maintenance, particularly in the exterior and interior paint, to improve its condition and value.

Repairs flagged

• Major Paint — Paint appears faded and chipping on exterior and interior.
• Major Exterior siding — Siding appears weathered and may need replacement.
• Minor Kitchen cabinets — Dated but not damaged, could be updated with new ones.
• Minor Bathroom fixtures — Standard fixtures, but could be updated for a fresh look.
• Minor Landscaping — Basic landscaping, could be improved for better curb appeal.

Value-add opportunities

• Both Paint and exterior siding — Improves curb appeal and home value
• Resale Kitchen cabinets — Freshens up the kitchen and adds value
• Resale Bathroom fixtures — Modernizes the bathroom and adds value
• Rental Landscaping — Improves curb appeal and rental appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
Paint · Paint appears faded and chipping on exterior and interior.	Major	$15,000–50,000
Exterior siding · Siding appears weathered and may need replacement.	Major	$15,000–50,000
Kitchen cabinets · Dated but not damaged, could be updated with new ones.	Minor	$500–3,000
Bathroom fixtures · Standard fixtures, but could be updated for a fresh look.	Minor	$500–3,000
Landscaping · Basic landscaping, could be improved for better curb appeal.	Minor	$500–3,000
Total estimated repair cost · 5 items		$31,500–109,000

Value-add ROI direction

• Both Paint and exterior siding — Improves curb appeal and home value ↑
• Resale Kitchen cabinets — Freshens up the kitchen and adds value ↑
• Resale Bathroom fixtures — Modernizes the bathroom and adds value ↑
• Rental Landscaping — Improves curb appeal and rental appeal ↑

ⓘ 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: North Lawrence Community Schools
• NCES district ID: 1807860
• Math proficiency: 35% ▼ -2.00%
• Reading proficiency: 40% ▼ -3.00%
• Median HH income: $44,566
• Composite: 31.88/100
• National rank: #5864
• State rank: #170 of 301 in IN

Livability — Bedford

• Score: 80/100
• State rank: #23
• US rank: #1958

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lawrence County · 27,599 people
• City population: 27,599
• Metro: Bedford, IN
• Population (ZIP): 27,599
• Household income: $68,108
• Rent vs Own: 20.0% rent · 80.0% own
• Severe rent burden: 507.0

Population outlook (Lawrence County) Hauer SSP2

• Today (2025): 44,347 people
• By 2030: 43,331 · -2.3%
• By 2040: 40,887 · -7.8%
• By 2050: 38,297 · -13.6%
• By 2075: 32,479 · -26.8%
• By 2100: 26,051 · -41.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Slovak 3% Italian 2% Scotch-Irish 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Lawrence

• 2024 margin: Solid R (+51.0) · D 23.6% · R 74.6% · Other 1.7%
• 2008→2024 swing: -30.5pp toward R · 2008: -20.6pp · 2024: -51.0pp
• All cycles: 2024: R+51.0 2020: R+50.6 2016: R+51.5 2012: R+32.8 2008: R+20.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -81.32%
• Current HPI: 240.959
• Rent YoY: —
• Metro: Bedford, 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

-13.1% since first listed

2 events — show timeline

• 2025-11-04 Price Changed $99,900 IRMLS
• 2025-09-27 Listed $114,900 IRMLS