FORTUNE GOLD STAR Summit Village - IN Plan · Marion, IN 46952

$39,000

1 bd · 1.0 ba · 616 sqft · Manufactured · 171 Days on market

Average condition

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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
• Livability +3.2/5.0
• Condition / age +2.8/5.0
• Rent growth +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Enjoy living in your dream home in the close-knit community of Summit Village. Our manufactured homes are fully customizable, with spacious 2-3 bedroom models to choose from. Our homes' core features include wood kitchen cabinets, full kitchen appliance packages, and spa-like primary baths. Outside the privacy of your home, Summit Village is a caring and engaged community filled with yearly events for residents, as well as a playground and bus shelter. Our Summit Village Community is located just outside Marion, Indiana, nestled in a country setting near Gas City, and larger cities like Fort Wayne, Indiana. Marion itself is a thriving city, with tons of local attractions and several fun outdoor parks and pools to enjoy. If you're looking for an easy day trip, Indianapolis is less than ninety minutes away. Stop on by and explore our available homes, we're excited to help you find the home of your dreams at a price you'll love. Summit Village is located in the Marion Indépendant Schools District.

Key facts

• Pools
• Outdoor parks
• Listed 171 days

Tags

• WOOD KITCHEN CABINETS
• SPA-LIKE PRIMARY BATHS
• OUTDOOR PARKS
• POOLS

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $39k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $329 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($757 rent vs $39k).
• Recommended offer: $34k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.4% vs local median 8.7% in Marion — 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 65/100 on livability (#337 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Marion Community Schools (town): math 18% / reading 24% proficiency, ranked #277 of 301 in IN (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 124 active listings in the ZIP; 52 units permitted in Grant County in 2024 (8 in 5+ unit buildings).
• This rent is only 17% of the median local income ($53k/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 $270 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Grant County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 171 days — a 12% lower offer ($34k) is reasonable based on typical stale-listing flexibility.

Recommended offer $34,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 171 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.94% ✓
• Cap rate: 16.40%
• Cash-on-cash: 36.10%
• DSCR: 2.61
• GRM: 4.3

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: 31.8%
• Equity multiple: 2.34×
• Total profit: $14,616
• Equity at exit: $5,815

10-year hold

• IRR: 39.0%
• Equity multiple: 4.64×
• Total profit: $39,718
• Equity at exit: $3,372

Cash invested: $10,920 (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 46952

• Home prices YoY: -29.9%
• Active inventory: 124
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $757 medium
• Mortgage (P&I): −$205
• Tax est. 1.5%: −$49 /mo · $585/yr
• Insurance: −$16
• HOA: −$0
• Vacancy / Maint / Mgmt: −$159
• Net cashflow: $329

Break-even live

Break-even rent $341

Max offer price $39,000

Occupancy floor 52%

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: $9,750
• Closing costs: $1,170
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-19
   days on market $39,000 Active 171 DOM
2. 2026-06-18
   days on market $39,000 Active 170 DOM
3. 2026-06-17
   days on market $39,000 Active 169 DOM
4. 2026-06-16
   days on market $39,000 Active 168 DOM
5. 2026-06-15
   days on market $39,000 Active 167 DOM
6. 2026-06-14
   days on market $39,000 Active 165 DOM
7. 2026-06-12
   days on market $39,000 Active 164 DOM
8. 2026-06-09
   days on market $39,000 Active 161 DOM
9. 2026-06-08
   days on market $39,000 Active 160 DOM
10. 2026-06-07
    days on market $39,000 Active 159 DOM
11. 2026-06-02
    days on market $39,000 Active 154 DOM
12. 2026-06-01
    days on market $39,000 Active 153 DOM
13. 2026-05-31
    days on market $39,000 Active 152 DOM
14. 2026-05-30
    days on market $39,000 Active 151 DOM
15. 2025-12-30
    listed $39,000 Active 1016-char remark

    Show marketing remark (1016 chars)

    Enjoy living in your dream home in the close-knit community of Summit Village. Our manufactured homes are fully customizable, with spacious 2-3 bedroom models to choose from. Our homes' core features include wood kitchen cabinets, full kitchen appliance packages, and spa-like primary baths. Outside the privacy of your home, Summit Village is a caring and engaged community filled with yearly events for residents, as well as a playground and bus shelter. Our Summit Village Community is located just outside Marion, Indiana, nestled in a country setting near Gas City, and larger cities like Fort Wayne, Indiana. Marion itself is a thriving city, with tons of local attractions and several fun outdoor parks and pools to enjoy. If you're looking for an easy day trip, Indianapolis is less than ninety minutes away. Stop on by and explore our available homes, we're excited to help you find the home of your dreams at a price you'll love. Summit Village is located in the Marion Indépendant Schools District.

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,084
• − Mortgage interest: −$2,185
• − Property taxes: −$585
• − Insurance: −$195
• − Repairs & maintenance: −$727
• − Management: −$727
• − Depreciation: −$1,135
• Taxable income: $3,532
• Est. tax owed @ 24.0%: −$848
• After-tax cash flow: $3,095/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 · 1 photo

Average 55/100 Cosmetic rehab

This manufactured home is in average condition and could benefit from cosmetic upgrades to enhance its resale and rental value.

Value-add opportunities

• Both Paint exterior and interior walls — Enhances curb appeal and interior aesthetics
• Both Replace standard kitchen cabinets and appliances — Modernizes the kitchen and adds value
• Both Upgrade standard bathroom fixtures — Enhances the bathroom experience and adds value
• Both Replace standard flooring — Modernizes the living space and adds value
• Both Upgrade standard windows — Improves energy efficiency and adds value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior and interior walls — Enhances curb appeal and interior aesthetics ↑
• Both Replace standard kitchen cabinets and appliances — Modernizes the kitchen and adds value ↑
• Both Upgrade standard bathroom fixtures — Enhances the bathroom experience and adds value ↑
• Both Replace standard flooring — Modernizes the living space and adds value ↑
• Both Upgrade standard windows — Improves energy efficiency and adds value ↑

ⓘ 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: Marion Community Schools
• NCES district ID: 1806390
• Math proficiency: 18% ▼ -9.00%
• Reading proficiency: 24% ▼ -6.00%
• Median HH income: $33,415
• Composite: 17.13/100
• National rank: #9115
• State rank: #277 of 301 in IN

Livability — Marion

• Score: 65/100
• State rank: #337
• US rank: #13006

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Marion, IN
• County: Grant County · 41,561 people
• City population: 41,561
• Metro: Marion, IN
• Population (ZIP): 18,189
• Household income: $52,880
• Rent vs Own: 31.5% rent · 68.5% own
• Severe rent burden: 662.0

Population outlook (Grant County) Hauer SSP2

• Today (2025): 64,394 people
• By 2030: 62,145 · -3.5%
• By 2040: 57,252 · -11.1%
• By 2050: 52,968 · -17.7%
• By 2075: 45,986 · -28.6%
• By 2100: 39,400 · -38.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 7% Hispanic / Latino 5% Black 4% Asian 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 3% Romanian 1% Iranian 1%
• Foreign-born: 4% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Grant

• 2024 margin: Solid R (+41.8) · D 28.2% · R 70.0% · Other 1.9%
• 2008→2024 swing: -28.7pp toward R · 2008: -13.1pp · 2024: -41.8pp
• All cycles: 2024: R+41.8 2020: R+38.8 2016: R+39.5 2012: R+22.0 2008: R+13.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -76.69%
• Current HPI: 180.1174
• Rent YoY: —
• Metro: Marion, 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

1 event — show timeline

• 2025-12-30 Listed $39,000 Zillow