1736 Oriental Ave · Elkhart, IN 46514

$60,000

3 bd · 2.0 ba · 1,680 sqft · Manufactured · 51 Days on market

Built 2026 Average condition $36/sqft · 60% below area

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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
• Rent growth +4.3/5.0
• Livability +3.4/5.0
• Condition / age +2.8/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks

Step into a masterclass of space and comfort with this expansive approximately 1,600 sq/ft double-wide, where a massive double living room layout sets the stage for effortless entertaining. Centered by a cozy fireplace that anchors the home with warmth, the open-concept design flows seamlessly toward the back sliding doors, inviting natural light to flood every corner. Whether you're hosting a game day or a quiet movie night, this 1997 gem offers the scale and versatility rarely found in modern builds. The private quarters feature a smart 3-bed, 2-bath split plan, highlighted by a primary suite designed for pure relaxation. Escape to the ensuite "spa" featuring both a deep garden

Key facts

• Open-concept design
• Private quarters
• Primary suite

Tags

• DOUBLE LIVING ROOM LAYOUT
• COZY FIREPLACE
• OPEN-CONCEPT DESIGN
• BACK SLIDING DOORS
• PRIVATE QUARTERS
• PRIMARY SUITE

Property features AI

Finance

• Financial info: List price $65,000

Exterior

• Utilities: Natural gas; Central air
• Home design: Single-family property (spec new construction - Fairmont Parke Place plan); Active listing
• Construction: Living area approximately 1,680
• Exterior features: Shake roof

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Central air; Ceiling fans
• Interior features: Central air and ceiling fans

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $60k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $941 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.
• Cap rate 25.1% 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-, schools F, crime F.
• Elkhart Community Schools (urban): math 18% / reading 25% proficiency, ranked #271 of 301 in IN (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+7.0%/yr); 269 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 484 units permitted in Elkhart County in 2024 (136 in 5+ unit buildings).
• This rent runs 31% of the median local income ($66k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $415 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 + 7.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.

Recommended offer $58,200 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 2.86% ✓
• Cap rate: 25.11%
• Cash-on-cash: 67.22%
• DSCR: 3.99
• GRM: 2.9

CMA / ARV

• ARV (median comp): $151,449
• List price: $60,000
• Delta: -60.38%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
25025 Dunny St	0.41mi	3/2.0	1,568 (-7%)	7mo	$192,500	$123	64
54085 Independence St	0.57mi	3/1.0	1,652 (-2%)	8mo	$150,000	$91	60

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

Projected returns pro-forma

-3.0% appreciation · 7.03% rent growth · sell at horizon

5-year hold

• IRR: 71.1%
• Equity multiple: 4.42×
• Total profit: $57,480
• Equity at exit: $8,946

10-year hold

• IRR: 76.2%
• Equity multiple: 10.50×
• Total profit: $159,623
• Equity at exit: $5,188

Cash invested: $16,800 (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 46514

• Rents YoY: 7.0%
• Active inventory: 269
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,716 medium
• Mortgage (P&I): −$315
• Tax est. 1.5%: −$75 /mo · $900/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$360
• Net cashflow: $941

Break-even live

Break-even rent $525

Max offer price $60,000

Occupancy floor 40%

Sensitivity live

Price	-10% $983	-5% $962	+0% $941	+5% $920	+10% $900
Rent	-10% $805	-5% $873	+0% $941	+5% $1,009	+10% $1,077
Rate	-1.0pp $971	-0.5pp $956	base $941	+0.5pp $926	+1.0pp $910

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1875 Osolo Rd Elkhart, IN	1.0–3.0	1.0–2.0	948	$1,000	$1.05	21d	1	0.49mi
1626 Osolo Rd Elkhart, IN	4.0	2.0	2190	$2,595	$1.18	21d	1	0.78mi
2304 Grant St Elkhart, IN	4.0	2.0	1450	$1,800	$1.24	44d	1	1.21mi

Listing history 18 events

1. 2026-06-19
   days on market $60,000 Active 51 DOM
2. 2026-06-18
   days on market $60,000 Active 50 DOM
3. 2026-06-17
   days on market $60,000 Active 49 DOM
4. 2026-06-16
   days on market $60,000 Active 48 DOM
5. 2026-06-15
   days on market $60,000 Active 47 DOM
6. 2026-06-14
   days on market $60,000 Active 45 DOM
7. 2026-06-13
   days on market $60,000 Active 44 DOM
8. 2026-06-10
   days on market $60,000 Active 42 DOM
9. 2026-06-09
   days on market $60,000 Active 41 DOM
10. 2026-06-08
    days on market $60,000 Active 40 DOM
11. 2026-06-07
    days on market $60,000 Active 39 DOM
12. 2026-06-05
    days on market $60,000 Active 36 DOM
13. 2026-06-03
    days on market $60,000 Active 35 DOM
14. 2026-06-02
    days on market $60,000 Active 34 DOM
15. 2026-06-01
    days on market $60,000 Active 33 DOM
16. 2026-05-31
    days on market $60,000 Active 32 DOM
17. 2026-05-30
    days on market $60,000 Active 31 DOM
18. 2026-04-29
    listed $65,000 Active 940-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $20,593
• − Mortgage interest: −$3,361
• − Property taxes: −$900
• − Insurance: −$300
• − Repairs & maintenance: −$1,647
• − Management: −$1,647
• − Depreciation: −$1,745
• Taxable income: $10,992
• Est. tax owed @ 24.0%: −$2,638
• After-tax cash flow: $8,655/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

Average 55/100 Cosmetic rehab

This 1997 double-wide manufactured home offers a spacious layout with a cozy fireplace and a private 3-bedroom, 2-bath split plan. While it's in average condition, it has potential for cosmetic updates to increase its value.

Repairs flagged

• Moderate kitchen cabinets — dated and worn
• Moderate bathroom fixtures — dated and worn
• Minor flooring — carpeted floors in living areas

Value-add opportunities

• Both update kitchen cabinets and appliances — modernizing kitchen would appeal to buyers and renters
• Both update bathroom fixtures and cabinetry — modernizing bathrooms would appeal to buyers and renters
• Both replace carpet with hardwood flooring — hardwood flooring would increase both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and worn	Moderate	$3,000–15,000
bathroom fixtures · dated and worn	Moderate	$3,000–15,000
flooring · carpeted floors in living areas	Minor	$500–3,000
Total estimated repair cost · 3 items		$6,500–33,000

Value-add ROI direction

• Both update kitchen cabinets and appliances — modernizing kitchen would appeal to buyers and renters ↑
• Both update bathroom fixtures and cabinetry — modernizing bathrooms would appeal to buyers and renters ↑
• Both replace carpet with hardwood flooring — hardwood flooring would increase both resale and rental 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: Elkhart Community Schools
• NCES district ID: 1803270
• Math proficiency: 18% ▼ -12.00%
• Reading proficiency: 25% ▼ -9.00%
• Median HH income: $42,881
• Composite: 18.45/100
• National rank: #8928
• State rank: #271 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

• Census place: Elkhart, IN
• County: Elkhart County · 107,928 people
• City population: 74,260
• Metro: Elkhart-Goshen, IN
• Population (ZIP): 42,389
• Household income: $65,833
• Rent vs Own: 28.0% rent · 72.0% own
• Severe rent burden: 1061.0

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: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 14% Two or more races 6% Black 5% Asian 1%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Lithuanian 2% Romanian 2% Italian 2%
• Foreign-born: 8% · Canada
• Languages at home: 89% English-only · Spanish 10%

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: ▼ -246.78%
• Current HPI: 225.6
• Rent YoY: ▲ 7.03%
• Metro: Elkhart-Goshen, 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