12733 N Yellowbanks Trl Unit 39A · Stendal, IN 47523

$18,000

3 bd · 1.0 ba · 1,120 sqft · Manufactured public records · 203 Days on market

Built 1972 0.30 ac lot $16/sqft · 40% above area Est $12k · 50% over ↓ 40% 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 +15.0/30.0
• Appreciation +8.4/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.9/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks MLS

Welcome to Yellowbanks! This manufactured home can be reimagined for a number of different uses. One car attached garage, bonus room, two car attached carport, living area, dining area, kitchen, bedroom, bathroom, and small extra room/storage. Lot is 0.3 acre. Nice lake view. Property is sold as-is, cash only sale.

Key facts

• Attached carport
• Attached garage
• Bonus room

Tags

• ATTACHED GARAGE
• BONUS ROOM
• ATTACHED CARPORT
• LAKE VIEW
• 0.3 ACRE LOT

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $18k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $18k).
• Recommended offer: $16k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• 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.
• Market conditions: 11 active listings in the ZIP; 249 units permitted in Warrick County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($124 loan paydown + $1k appreciation (6.7% local appreciation)).
• Warrick County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (6.7% appreciation + 3.0% rent growth), your $5k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 203 days — a 12% lower offer ($16k) is reasonable based on typical stale-listing flexibility.

Recommended offer $15,840 (12.0% below list)

Questions for the listing agent

1. It's been on market 203 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 9.17% ✓
• Cap rate: 84.97%
• Cash-on-cash: 280.98%
• DSCR: 13.50
• GRM: 0.9

CMA / ARV

• ARV (median comp): $12,000
• List price: $18,000
• Delta: 50.00%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12733 Yellowbanks Trl, 87n Trl	0.00mi	3/1.0	1,248 (+11%)	20mo	$52,000	$42	64

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

6.74% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 17.11×
• Total profit: $81,179
• Equity at exit: $12,162

10-year hold

• IRR: —
• Equity multiple: 36.68×
• Total profit: $179,806
• Equity at exit: $22,827

Cash invested: $5,040 (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 47523

• Home prices YoY: 3.5%
• Active inventory: 11
• Price-to-rent: 0.9×

Monthly cashflow live

• Estimated rent: $1,650 medium
• Mortgage (P&I): −$94
• Tax from tax record: −$21 /mo · $256/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $1,180

Break-even live

Break-even rent $156

Max offer price $18,000

Occupancy floor 23%

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: $4,500
• Closing costs: $540
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-07
   status Pending 316-char remark

   Show marketing remark (316 chars)

   Welcome to Yellowbanks! This manufactured home can be reimagined for a number of different uses. One car attached garage, bonus room, two car attached carport, living area, dining area, kitchen, bedroom, bathroom, and small extra room/storage. Lot is 0.3 acre. Nice lake view. Property is sold as-is, cash only sale.

2. 2026-04-16
   price $18,000 316-char remark

   Show marketing remark (316 chars)

   Welcome to Yellowbanks! This manufactured home can be reimagined for a number of different uses. One car attached garage, bonus room, two car attached carport, living area, dining area, kitchen, bedroom, bathroom, and small extra room/storage. Lot is 0.3 acre. Nice lake view. Property is sold as-is, cash only sale.

3. 2025-12-16
   price $27,400 316-char remark

   Show marketing remark (316 chars)

   Welcome to Yellowbanks! This manufactured home can be reimagined for a number of different uses. One car attached garage, bonus room, two car attached carport, living area, dining area, kitchen, bedroom, bathroom, and small extra room/storage. Lot is 0.3 acre. Nice lake view. Property is sold as-is, cash only sale.

4. 2025-10-16
   listed $29,900 Active 316-char remark

   Show marketing remark (316 chars)

   Welcome to Yellowbanks! This manufactured home can be reimagined for a number of different uses. One car attached garage, bonus room, two car attached carport, living area, dining area, kitchen, bedroom, bathroom, and small extra room/storage. Lot is 0.3 acre. Nice lake view. Property is sold as-is, cash only sale.

ⓘ 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: $256 · $21/mo
• Projected year-2 tax: $256 · $21/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $19,798
• − Mortgage interest: −$1,008
• − Property taxes: −$256
• − Insurance: −$90
• − Repairs & maintenance: −$1,584
• − Management: −$1,584
• − Depreciation: −$524
• Taxable income: $14,752
• Est. tax owed @ 24.0%: −$3,540
• After-tax cash flow: $10,621/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 — Stendal

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 3,518

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 (87%)
• Race & ethnicity: White 87% Hispanic / Latino 12% Two or more races 4%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Lithuanian 1% Iranian 1% Romanian 1%
• Foreign-born: 6% · Canada
• Languages at home: 90% English-only · Spanish 10%

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: ▲ 6.74%
• Current HPI: 200.352
• 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

-39.8% since first listed

4 events — show timeline

• 2026-05-07 Pending — IRMLS
• 2026-04-16 Price Changed $18,000 IRMLS
• 2025-12-16 Price Changed $27,400 IRMLS
• 2025-10-16 Listed $29,900 IRMLS

Property tax history

+6.0%/yr

Latest (2024): $256 · -6.7% YoY. Source: county tax records.