58206 Lowell St · Elkhart, IN 46517

$57,000

1 bd · 1.5 ba · 972 sqft · Manufactured public records · 2 Days on market

Built 1995 0.31 ac lot

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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
• Schools +4.3/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Looking for your next project? This property offers more than just a renovation opportunity. Situated on a double lot, buyers may wish to explore the potential for future development, an additional residence, rental property, garage, pole building, or other approved uses, subject to local zoning and permitting requirements. The existing 4-bedroom, 1.5-bath home needs significant repairs and updates and is priced accordingly. Whether you’re an investor, builder, or ambitious renovator, this property offers plenty of upside potential at an affordable price point. Please allow 48 hours for offers to be reviewed. Agents, see agent remarks.

Key facts

• Additional residence
• Rental property
• Future development

Tags

• DOUBLE LOT
• FUTURE DEVELOPMENT
• ADDITIONAL RESIDENCE
• RENTAL PROPERTY
• UPSIDE POTENTIAL

Property features AI

Exterior

• Utilities: Private well water; Public sewer
• Home design: Manufactured home (residential); Single-story
• Construction: Vinyl siding; Block foundation
• Exterior features: Level lot

Interior

• Bedrooms: Bedrooms included (see room count for total rooms)
• Bathrooms: One full bathroom; One half bathroom; Two main-level bathrooms
• Heating & cooling: Natural gas forced-air heating; No cooling system
• Interior features: Fully finished basement (partially finished); Total of 5 rooms
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath manufactured listed at $57k.

Deal economics

• At list price, monthly cash flow is $605 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $57k).
• Cap rate 19.0% vs local median 4.0% in Elkhart — 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 68/100 on livability (#224 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, crime F, commute F.
• Baugo Community Schools (suburban): math 49% / reading 50% proficiency, ranked #54 of 301 in IN (top 18%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Jimtown Elementary School (379 students, 46% FRL); Jimtown Junior High School (math 47% / reading 42%, grade D, #84 of 330 statewide, top 26%, 279 students, 41% FRL); Jimtown High School (math 27% / reading 62%, grade F, #169 of 369 statewide, top 51%, 541 students, 38% FRL).
• Market conditions: 73 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 484 units permitted in Elkhart County in 2024 (136 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $394 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Elkhart County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $16k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $57,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 2.19% ✓
• Cap rate: 19.03%
• Cash-on-cash: 45.50%
• DSCR: 3.02
• GRM: 3.8

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: 42.6%
• Equity multiple: 2.84×
• Total profit: $29,317
• Equity at exit: $8,499

10-year hold

• IRR: 48.7%
• Equity multiple: 5.71×
• Total profit: $75,206
• Equity at exit: $4,928

Cash invested: $15,960 (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 46517

• Active inventory: 73
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,250 medium
• Mortgage (P&I): −$299
• Tax from tax record: −$60 /mo · $716/yr
• Insurance: −$24
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $605

Break-even live

Break-even rent $484

Max offer price $57,000

Occupancy floor 47%

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: $14,250
• Closing costs: $1,710
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
57748 Best Ave Elkhart, IN	2.0	1.0	888	$1,250	$1.41	21d	1	0.53mi

Listing history 4 events

1. 2026-06-08
   remarks 643-char remark
2. 2026-06-08
   status $57,000 Pending 2 DOM
3. 2026-06-07
   remarks 594-char remark
4. 2026-06-07
   listed $57,000 Active 2 DOM

ⓘ 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: $716 · $60/mo
• Projected year-2 tax: $716 · $60/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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥100°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,000
• − Mortgage interest: −$3,193
• − Property taxes: −$716
• − Insurance: −$285
• − Repairs & maintenance: −$1,200
• − Management: −$1,200
• − Depreciation: −$1,658
• Taxable income: $6,748
• Est. tax owed @ 24.0%: −$1,619
• After-tax cash flow: $5,642/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: Baugo Community Schools
• NCES district ID: 1800420
• Math proficiency: 49% ▼ -5.00%
• Reading proficiency: 50% ▬ 0.00%
• Median HH income: $54,535
• Composite: 42.81/100
• National rank: #3141
• State rank: #54 of 301 in IN

Livability — Elkhart

• Score: 68/100
• State rank: #224
• US rank: #9852

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 74,260
• Population (ZIP): 25,438

Population outlook (Elkhart County) Hauer SSP2

• Today (2025): 213,761 people
• By 2030: 218,103 · +2.0%
• By 2040: 225,381 · +5.4%
• By 2050: 229,447 · +7.3%
• By 2075: 232,856 · +8.9%
• By 2100: 214,088 · +0.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 53% Hispanic / Latino 30% Two or more races 12% Black 12% Native American 1%
• Hispanic origin (detail): Mexican 15% Puerto Rican 2%
• Common ancestry: Lithuanian 2% Italian 2% Iranian 1%
• Foreign-born: 12% · Canada
• Languages at home: 75% English-only · Spanish 23% German/W. Germanic 1%

Political lean MEDSL · Elkhart

• 2024 margin: Solid R (+32.4) · D 33.1% · R 65.5% · Other 1.4%
• 2008→2024 swing: -21.2pp toward R · 2008: -11.2pp · 2024: -32.4pp
• All cycles: 2024: R+32.4 2020: R+28.1 2016: R+32.4 2012: R+26.5 2008: R+11.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -136.54%
• Current HPI: 214.9881
• 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

1 event — show timeline

• 2026-06-06 Listed $57,000 IRMLS

Property tax history

+9.4%/yr

Latest (2025): $716 · +3.2% YoY. Source: county tax records.