12733 N Yellowbanks Trl Unit 39A

Stendal, IN 47523

$18,000D+

3 bd · 1.0 ba · 1,120 sqft · Built 1972 · Manufactured · Pending · 203 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,650/mo
• Mortgage (P&I): −$94
• Tax + insurance: −$29
• HOA: −$0
• Vac / Maint / Mgmt: −$346
• Net cashflow: $1,180/mo
• Annual: $14,161/yr
• Cap rate: 84.97%
• Cash-on-cash: 280.98%
• DSCR: 13.50
• 1% rule: 9.17%
• Cash to close: $5,040

Investor read

• This is a 3-bed/1.0-bath manufactured listed at $18k.
• 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).
• It's been on market 203 days — a 12% lower offer ($16k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $16k (12.0% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($124 loan paydown + $1k appreciation (6.7% local appreciation)).
• 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).
• 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.

Questions for listing agent

• 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?
• Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.