61 Bubble Loo Rd · Cloverdale, IN 46120

$89,900

2 bd · 1.5 ba · 938 sqft · Manufactured public records · 103 Days on market

Built 1988 9,060 sqft lot $96/sqft · 26% below area Est $121k · 26% under

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Why this score? — see what drove the C+ 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 +21.1/30.0
• ARV discount +15.0/15.0
• DSCR +6.7/10.0
• 1% rule +5.0/10.0
• Appreciation +4.4/10.0
• Livability +3.5/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Set on a desirable corner lot and offering 938 square feet of living space, this home blends smart updates with an easy, livable layout. Experience affordable comfort and convenience in this tastefully improved 2-bedroom, 1.5-bath single-wide home in Cloverdale. The bright eat-in kitchen is a standout, featuring painted cabinets, brand-new stainless steel appliances, and the convenience of all appliances included. Just beyond, the living space feels comfortable and inviting, while the primary bedroom offers a private retreat with an updated full bath. A second bedroom and updated half bath add flexibility for guests or a home office. Step outside to enjoy the large front deck, ideal for morning coffee or evening gatherings, and take advantage of the 12x12 shed for extra storage. Recent improvements such as new flooring, fresh interior and exterior paint, and new appliances give the home a clean, modern feel from top to bottom. Located with quick access to I-70 and only 10 minutes from Lieber State Recreation Area, this property offers both convenience and the opportunity to enjoy nearby outdoor adventures.

Key facts

• New flooring
• Spacious front deck
• Painted cabinetry

Tags

• CORNER LOT
• EAT-IN KITCHEN
• PAINTED CABINETRY
• NEW STAINLESS STEEL APPLIANCES
• SPACIOUS FRONT DECK
• NEW FLOORING

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath manufactured listed at $90k.

Deal economics

• At list price, monthly cash flow is $129 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($899 rent vs $90k).
• Recommended offer: $82k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 3.5% in Cloverdale — 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 70/100 on livability (#156 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools C-, amenities F, commute F.
• Cloverdale Community Schools (rural): math 36% / reading 40% proficiency, ranked #167 of 301 in IN (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 65 active listings in the ZIP; 166 units permitted in Putnam County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-1.2%/yr); year-one equity from $622 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Putnam County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 103 days — a 9% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 25y ago; this cycle's ask has dropped $7k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $35k; list at $90k implies a 157% gain — meaningful room to come down on a strong offer.

Recommended offer $81,809 (9.0% below list)

Questions for the listing agent

1. It's been on market 103 days. Have you received any prior offers? Is the seller open to a 9% 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. 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: 1.00% ✓
• Cap rate: 8.01%
• Cash-on-cash: 6.14%
• DSCR: 1.27
• GRM: 8.3

CMA / ARV

• ARV (median comp): $121,000
• List price: $89,900
• Delta: -25.70%
• Verdict: UNDERPRICED
• Comps: 14 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
61 Bubble Loo Rd	0.00mi	2/1.5	938 (0%)	0mo	$80,000	$85	100
330 Lazy River Rd	0.07mi	2/1.0	938 (0%)	1mo	$115,000	$123	94
290 Bubble Loo Rd	0.17mi	2/2.0	924 (-2%)	1mo	$50,000	$54	86
66 Bubble Loo Rd	0.22mi	2/2.0	938 (0%)	2mo	$117,000	$125	86
396 Cool Evening Ct	0.25mi	2/1.0	832 (-11%)	3mo	$105,000	$126	65
288 Bubble Loo Rd	0.19mi	3/2.0 (+1)	1,064 (+13%)	11mo	$79,900	$75	52

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

Projected returns pro-forma

-1.22% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 0.5%
• Equity multiple: 1.02×
• Total profit: $536
• Equity at exit: $20,763

10-year hold

• IRR: 7.4%
• Equity multiple: 1.69×
• Total profit: $17,401
• Equity at exit: $21,014

Cash invested: $25,172 (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 46120

• Home prices YoY: -0.5%
• Active inventory: 65
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $899 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$73 /mo · $873/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$189
• Net cashflow: $129

Break-even live

Break-even rent $736

Max offer price $89,900

Occupancy floor 81%

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-05-07
   status Pending 1123-char remark

   Show marketing remark (1123 chars)

   Set on a desirable corner lot and offering 938 square feet of living space, this home blends smart updates with an easy, livable layout. Experience affordable comfort and convenience in this tastefully improved 2-bedroom, 1.5-bath single-wide home in Cloverdale. The bright eat-in kitchen is a standout, featuring painted cabinets, brand-new stainless steel appliances, and the convenience of all appliances included. Just beyond, the living space feels comfortable and inviting, while the primary bedroom offers a private retreat with an updated full bath. A second bedroom and updated half bath add flexibility for guests or a home office. Step outside to enjoy the large front deck, ideal for morning coffee or evening gatherings, and take advantage of the 12x12 shed for extra storage. Recent improvements such as new flooring, fresh interior and exterior paint, and new appliances give the home a clean, modern feel from top to bottom. Located with quick access to I-70 and only 10 minutes from Lieber State Recreation Area, this property offers both convenience and the opportunity to enjoy nearby outdoor adventures.

2. 2026-05-07
   historical Active Under Contract 1123-char remark

   Show marketing remark (1123 chars)

   Set on a desirable corner lot and offering 938 square feet of living space, this home blends smart updates with an easy, livable layout. Experience affordable comfort and convenience in this tastefully improved 2-bedroom, 1.5-bath single-wide home in Cloverdale. The bright eat-in kitchen is a standout, featuring painted cabinets, brand-new stainless steel appliances, and the convenience of all appliances included. Just beyond, the living space feels comfortable and inviting, while the primary bedroom offers a private retreat with an updated full bath. A second bedroom and updated half bath add flexibility for guests or a home office. Step outside to enjoy the large front deck, ideal for morning coffee or evening gatherings, and take advantage of the 12x12 shed for extra storage. Recent improvements such as new flooring, fresh interior and exterior paint, and new appliances give the home a clean, modern feel from top to bottom. Located with quick access to I-70 and only 10 minutes from Lieber State Recreation Area, this property offers both convenience and the opportunity to enjoy nearby outdoor adventures.

3. 2026-05-07
   status Active 1123-char remark

   Show marketing remark (1123 chars)

   Set on a desirable corner lot and offering 938 square feet of living space, this home blends smart updates with an easy, livable layout. Experience affordable comfort and convenience in this tastefully improved 2-bedroom, 1.5-bath single-wide home in Cloverdale. The bright eat-in kitchen is a standout, featuring painted cabinets, brand-new stainless steel appliances, and the convenience of all appliances included. Just beyond, the living space feels comfortable and inviting, while the primary bedroom offers a private retreat with an updated full bath. A second bedroom and updated half bath add flexibility for guests or a home office. Step outside to enjoy the large front deck, ideal for morning coffee or evening gatherings, and take advantage of the 12x12 shed for extra storage. Recent improvements such as new flooring, fresh interior and exterior paint, and new appliances give the home a clean, modern feel from top to bottom. Located with quick access to I-70 and only 10 minutes from Lieber State Recreation Area, this property offers both convenience and the opportunity to enjoy nearby outdoor adventures.

4. 2026-05-07
   historical 1123-char remark

   Show marketing remark (1123 chars)

   Set on a desirable corner lot and offering 938 square feet of living space, this home blends smart updates with an easy, livable layout. Experience affordable comfort and convenience in this tastefully improved 2-bedroom, 1.5-bath single-wide home in Cloverdale. The bright eat-in kitchen is a standout, featuring painted cabinets, brand-new stainless steel appliances, and the convenience of all appliances included. Just beyond, the living space feels comfortable and inviting, while the primary bedroom offers a private retreat with an updated full bath. A second bedroom and updated half bath add flexibility for guests or a home office. Step outside to enjoy the large front deck, ideal for morning coffee or evening gatherings, and take advantage of the 12x12 shed for extra storage. Recent improvements such as new flooring, fresh interior and exterior paint, and new appliances give the home a clean, modern feel from top to bottom. Located with quick access to I-70 and only 10 minutes from Lieber State Recreation Area, this property offers both convenience and the opportunity to enjoy nearby outdoor adventures.

5. 2026-04-28
   status Active 1123-char remark

   Show marketing remark (1123 chars)

   Set on a desirable corner lot and offering 938 square feet of living space, this home blends smart updates with an easy, livable layout. Experience affordable comfort and convenience in this tastefully improved 2-bedroom, 1.5-bath single-wide home in Cloverdale. The bright eat-in kitchen is a standout, featuring painted cabinets, brand-new stainless steel appliances, and the convenience of all appliances included. Just beyond, the living space feels comfortable and inviting, while the primary bedroom offers a private retreat with an updated full bath. A second bedroom and updated half bath add flexibility for guests or a home office. Step outside to enjoy the large front deck, ideal for morning coffee or evening gatherings, and take advantage of the 12x12 shed for extra storage. Recent improvements such as new flooring, fresh interior and exterior paint, and new appliances give the home a clean, modern feel from top to bottom. Located with quick access to I-70 and only 10 minutes from Lieber State Recreation Area, this property offers both convenience and the opportunity to enjoy nearby outdoor adventures.

6. 2026-04-28
   price $89,900 1123-char remark

   Show marketing remark (1123 chars)

   Set on a desirable corner lot and offering 938 square feet of living space, this home blends smart updates with an easy, livable layout. Experience affordable comfort and convenience in this tastefully improved 2-bedroom, 1.5-bath single-wide home in Cloverdale. The bright eat-in kitchen is a standout, featuring painted cabinets, brand-new stainless steel appliances, and the convenience of all appliances included. Just beyond, the living space feels comfortable and inviting, while the primary bedroom offers a private retreat with an updated full bath. A second bedroom and updated half bath add flexibility for guests or a home office. Step outside to enjoy the large front deck, ideal for morning coffee or evening gatherings, and take advantage of the 12x12 shed for extra storage. Recent improvements such as new flooring, fresh interior and exterior paint, and new appliances give the home a clean, modern feel from top to bottom. Located with quick access to I-70 and only 10 minutes from Lieber State Recreation Area, this property offers both convenience and the opportunity to enjoy nearby outdoor adventures.

7. 2026-04-28
   status Active 1123-char remark

   Show marketing remark (1123 chars)

   Set on a desirable corner lot and offering 938 square feet of living space, this home blends smart updates with an easy, livable layout. Experience affordable comfort and convenience in this tastefully improved 2-bedroom, 1.5-bath single-wide home in Cloverdale. The bright eat-in kitchen is a standout, featuring painted cabinets, brand-new stainless steel appliances, and the convenience of all appliances included. Just beyond, the living space feels comfortable and inviting, while the primary bedroom offers a private retreat with an updated full bath. A second bedroom and updated half bath add flexibility for guests or a home office. Step outside to enjoy the large front deck, ideal for morning coffee or evening gatherings, and take advantage of the 12x12 shed for extra storage. Recent improvements such as new flooring, fresh interior and exterior paint, and new appliances give the home a clean, modern feel from top to bottom. Located with quick access to I-70 and only 10 minutes from Lieber State Recreation Area, this property offers both convenience and the opportunity to enjoy nearby outdoor adventures.

8. 2026-04-28
   price $89,900 1123-char remark

   Show marketing remark (1123 chars)

   Set on a desirable corner lot and offering 938 square feet of living space, this home blends smart updates with an easy, livable layout. Experience affordable comfort and convenience in this tastefully improved 2-bedroom, 1.5-bath single-wide home in Cloverdale. The bright eat-in kitchen is a standout, featuring painted cabinets, brand-new stainless steel appliances, and the convenience of all appliances included. Just beyond, the living space feels comfortable and inviting, while the primary bedroom offers a private retreat with an updated full bath. A second bedroom and updated half bath add flexibility for guests or a home office. Step outside to enjoy the large front deck, ideal for morning coffee or evening gatherings, and take advantage of the 12x12 shed for extra storage. Recent improvements such as new flooring, fresh interior and exterior paint, and new appliances give the home a clean, modern feel from top to bottom. Located with quick access to I-70 and only 10 minutes from Lieber State Recreation Area, this property offers both convenience and the opportunity to enjoy nearby outdoor adventures.

9. 2026-02-16
   historical 1123-char remark

   Show marketing remark (1123 chars)

   Set on a desirable corner lot and offering 938 square feet of living space, this home blends smart updates with an easy, livable layout. Experience affordable comfort and convenience in this tastefully improved 2-bedroom, 1.5-bath single-wide home in Cloverdale. The bright eat-in kitchen is a standout, featuring painted cabinets, brand-new stainless steel appliances, and the convenience of all appliances included. Just beyond, the living space feels comfortable and inviting, while the primary bedroom offers a private retreat with an updated full bath. A second bedroom and updated half bath add flexibility for guests or a home office. Step outside to enjoy the large front deck, ideal for morning coffee or evening gatherings, and take advantage of the 12x12 shed for extra storage. Recent improvements such as new flooring, fresh interior and exterior paint, and new appliances give the home a clean, modern feel from top to bottom. Located with quick access to I-70 and only 10 minutes from Lieber State Recreation Area, this property offers both convenience and the opportunity to enjoy nearby outdoor adventures.

10. 2025-11-14
    listed $96,500 Active 1123-char remark

    Show marketing remark (1123 chars)

    Set on a desirable corner lot and offering 938 square feet of living space, this home blends smart updates with an easy, livable layout. Experience affordable comfort and convenience in this tastefully improved 2-bedroom, 1.5-bath single-wide home in Cloverdale. The bright eat-in kitchen is a standout, featuring painted cabinets, brand-new stainless steel appliances, and the convenience of all appliances included. Just beyond, the living space feels comfortable and inviting, while the primary bedroom offers a private retreat with an updated full bath. A second bedroom and updated half bath add flexibility for guests or a home office. Step outside to enjoy the large front deck, ideal for morning coffee or evening gatherings, and take advantage of the 12x12 shed for extra storage. Recent improvements such as new flooring, fresh interior and exterior paint, and new appliances give the home a clean, modern feel from top to bottom. Located with quick access to I-70 and only 10 minutes from Lieber State Recreation Area, this property offers both convenience and the opportunity to enjoy nearby outdoor adventures.

11. 2025-11-14
    listed $96,500 Active 1123-char remark

    Show marketing remark (1123 chars)

    Set on a desirable corner lot and offering 938 square feet of living space, this home blends smart updates with an easy, livable layout. Experience affordable comfort and convenience in this tastefully improved 2-bedroom, 1.5-bath single-wide home in Cloverdale. The bright eat-in kitchen is a standout, featuring painted cabinets, brand-new stainless steel appliances, and the convenience of all appliances included. Just beyond, the living space feels comfortable and inviting, while the primary bedroom offers a private retreat with an updated full bath. A second bedroom and updated half bath add flexibility for guests or a home office. Step outside to enjoy the large front deck, ideal for morning coffee or evening gatherings, and take advantage of the 12x12 shed for extra storage. Recent improvements such as new flooring, fresh interior and exterior paint, and new appliances give the home a clean, modern feel from top to bottom. Located with quick access to I-70 and only 10 minutes from Lieber State Recreation Area, this property offers both convenience and the opportunity to enjoy nearby outdoor adventures.

12. 2025-04-24
    soldstatus $35,000 Closed
13. 2025-04-07
    status Pending
14. 2025-04-07
    listed $45,000 Active
15. 2011-03-22
    soldstatus $14,000
16. 2011-02-21
    listed $17,000
17. 2001-09-08
    historical
18. 2001-03-08
    listed $39,900

ⓘ 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: $873 · $73/mo
• Projected year-2 tax: $873 · $73/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 3/10 Moderate 7 d/yr ≥103°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,791
• − Mortgage interest: −$5,036
• − Property taxes: −$873
• − Insurance: −$450
• − Repairs & maintenance: −$863
• − Management: −$863
• − Depreciation: −$2,615
• Taxable income: $90
• Est. tax owed @ 24.0%: −$22
• After-tax cash flow: $1,523/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: Cloverdale Community Schools
• NCES district ID: 1802220
• Math proficiency: 36% ▼ -16.00%
• Reading proficiency: 40% ▼ -14.00%
• Median HH income: $44,267
• Composite: 32.28/100
• National rank: #5753
• State rank: #167 of 301 in IN

Livability — Cloverdale

• Score: 70/100
• State rank: #156
• US rank: #7715

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cloverdale, IN
• City population: 6,138
• Population (ZIP): 6,138

Population outlook (Putnam County) Hauer SSP2

• Today (2025): 37,226 people
• By 2030: 36,723 · -1.4%
• By 2040: 35,407 · -4.9%
• By 2050: 34,177 · -8.2%
• By 2075: 32,038 · -13.9%
• By 2100: 28,380 · -23.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 1% Black 1%
• Common ancestry: Slovak 3% Lithuanian 2% Iranian 2%
• Foreign-born: 1%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Putnam

• 2024 margin: Solid R (+52.0) · D 23.1% · R 75.1% · Other 1.8%
• 2008→2024 swing: -40.0pp toward R · 2008: -12.0pp · 2024: -52.0pp
• All cycles: 2024: R+52.0 2020: R+50.2 2016: R+49.6 2012: R+32.6 2008: R+12.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -1.22%
• Current HPI: 235.6828
• 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

+125.3% since first listed

18 events — show timeline

• 2026-05-07 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-07 Contingent — IRMLS
• 2026-05-07 Relisted — IRMLS
• 2026-05-07 Delisted — IRMLS
• 2026-04-28 Relisted — MIBOR as Distributed by MLS Grid
• 2026-04-28 Price Changed $89,900 MIBOR as Distributed by MLS Grid
• 2026-04-28 Relisted — IRMLS
• 2026-04-28 Price Changed $89,900 IRMLS
• 2026-02-16 Listing Removed — MIBOR as Distributed by MLS Grid
• 2025-11-14 Listed $96,500 IRMLS
• 2025-11-14 Listed $96,500 MIBOR as Distributed by MLS Grid
• 2025-04-24 Sold (MLS) $35,000 IRMLS
• 2025-04-07 Pending — IRMLS
• 2025-04-07 Listed $45,000 IRMLS
• 2011-03-22 Sold (MLS) $14,000 MIBOR as Distributed by MLS Grid
• 2011-02-21 Listed $17,000 MIBOR as Distributed by MLS Grid
• 2001-09-08 Listing Removed — MIBOR as Distributed by MLS Grid
• 2001-03-08 Listed $39,900 MIBOR as Distributed by MLS Grid

Property tax history

+18.9%/yr

Latest (2024): $873 · +38.2% YoY. Source: county tax records.