8 Plan · Rensselaer, IN 47978

$129,500

3 bd · 2.0 ba · 1,456 sqft · Manufactured · 222 Days on market

Good condition

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Why this score? — see what drove the D 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 +14.1/30.0
• ARV discount +7.5/15.0
• DSCR +4.3/10.0
• Schools +4.2/10.0
• 1% rule +3.9/10.0
• Condition / age +3.8/5.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Home nestled in Lakeside 55+ community in Rensselaer supporting the retired lifestyle of relaxation and comradery. • Monthly Lot Rent: $475 (Includes water, sewer) Snow removal and lawn care service $30/month Our experienced team will help you through the buying process. We work with lenders who require 10% down. Key Features: • Well-designed Kitchen: Step inside to discover a thoughtfully designed interior featuring a bright and airy eat-in kitchen with a convenient breakfast bar. Stainless steel appliances elevate the kitchen's functionality and aesthetics. • Walk-in Shower-Step into the spa like shower each morning to remind you of the resort life. Community Amenities: • Lakeside Retirement Community offers a resort-style living experience, featuring three ponds, a beach area, and community spaces that foster a sense of community and relaxation. • Clubhouse Events: Join your fellow residents in various community events throughout the year, including Thanksgiving dinners, card games, bingo, and more, hosted in the community clubhouse. Take the next step toward a lifestyle of comfort and community. To schedule a tour or inquire about purchasing this exceptional property, contact us today!

Key facts

• Three ponds
• Beach area
• Walk-in shower

Tags

• WELL-DESIGNED KITCHEN
• BREAKFAST BAR
• WALK-IN SHOWER
• THREE PONDS
• BEACH AREA
• COMMUNITY SPACES

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $130k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $19 ($224/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $116k (10.7% below list).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.5% vs local median 3.6% in Rensselaer — 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 (#145 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, health & safety B; Watch: employment C-, schools D-, amenities F.
• Rensselaer Central School Corporation (town): math 45% / reading 53% proficiency, ranked #63 of 301 in IN (top 21%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 80 active listings in the ZIP; 93 units permitted in Jasper County in 2024 (5 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $895 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Jasper County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 222 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.

Recommended offer $113,960 (12.0% below list)

Questions for the listing agent

1. It's been on market 222 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 D-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. 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?
6. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
7. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
8. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
9. 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.
10. 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.
11. 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: 0.89% ✗
• Cap rate: 6.47%
• Cash-on-cash: 0.62%
• DSCR: 1.03
• GRM: 9.3

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: -15.3%
• Equity multiple: 0.45×
• Total profit: $-19,779
• Equity at exit: $19,309

10-year hold

• IRR: -6.7%
• Equity multiple: 0.57×
• Total profit: $-15,622
• Equity at exit: $11,197

Cash invested: $36,260 (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 47978

• Home prices YoY: -15.4%
• Active inventory: 80
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,156 medium
• Mortgage (P&I): −$679
• Tax est. 1.5%: −$162 /mo · $1,942/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$243
• Net cashflow: $19

Break-even live

Break-even rent $1,133

Max offer price $129,500

Occupancy floor 93%

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: $32,375
• Closing costs: $3,885
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $129,500 Active 222 DOM
2. 2026-06-17
   days on market $129,500 Active 221 DOM
3. 2026-06-16
   days on market $129,500 Active 220 DOM
4. 2026-06-15
   days on market $129,500 Active 219 DOM
5. 2026-06-13
   days on market $129,500 Active 217 DOM
6. 2026-06-12
   days on market $129,500 Active 216 DOM
7. 2026-06-09
   days on market $129,500 Active 213 DOM
8. 2026-06-08
   days on market $129,500 Active 212 DOM
9. 2026-06-07
   days on market $129,500 Active 211 DOM
10. 2026-06-07
    days on market $129,500 Active 210 DOM
11. 2026-06-04
    days on market $129,500 Active 207 DOM
12. 2026-06-02
    days on market $129,500 Active 206 DOM
13. 2026-06-01
    days on market $129,500 Active 205 DOM
14. 2026-05-31
    days on market $129,500 Active 204 DOM
15. 2026-05-31
    days on market $129,500 Active 203 DOM
16. 2025-11-10
    price $129,500 1233-char remark

    Show marketing remark (1233 chars)

    Home nestled in Lakeside 55+ community in Rensselaer supporting the retired lifestyle of relaxation and comradery. • Monthly Lot Rent: $475 (Includes water, sewer) Snow removal and lawn care service $30/month Our experienced team will help you through the buying process. We work with lenders who require 10% down. Key Features: • Well-designed Kitchen: Step inside to discover a thoughtfully designed interior featuring a bright and airy eat-in kitchen with a convenient breakfast bar. Stainless steel appliances elevate the kitchen's functionality and aesthetics. • Walk-in Shower-Step into the spa like shower each morning to remind you of the resort life. Community Amenities: • Lakeside Retirement Community offers a resort-style living experience, featuring three ponds, a beach area, and community spaces that foster a sense of community and relaxation. • Clubhouse Events: Join your fellow residents in various community events throughout the year, including Thanksgiving dinners, card games, bingo, and more, hosted in the community clubhouse. Take the next step toward a lifestyle of comfort and community. To schedule a tour or inquire about purchasing this exceptional property, contact us today!

17. 2025-11-08
    listed $129,000 Active 1233-char remark

    Show marketing remark (1233 chars)

    Home nestled in Lakeside 55+ community in Rensselaer supporting the retired lifestyle of relaxation and comradery. • Monthly Lot Rent: $475 (Includes water, sewer) Snow removal and lawn care service $30/month Our experienced team will help you through the buying process. We work with lenders who require 10% down. Key Features: • Well-designed Kitchen: Step inside to discover a thoughtfully designed interior featuring a bright and airy eat-in kitchen with a convenient breakfast bar. Stainless steel appliances elevate the kitchen's functionality and aesthetics. • Walk-in Shower-Step into the spa like shower each morning to remind you of the resort life. Community Amenities: • Lakeside Retirement Community offers a resort-style living experience, featuring three ponds, a beach area, and community spaces that foster a sense of community and relaxation. • Clubhouse Events: Join your fellow residents in various community events throughout the year, including Thanksgiving dinners, card games, bingo, and more, hosted in the community clubhouse. Take the next step toward a lifestyle of comfort and community. To schedule a tour or inquire about purchasing this exceptional property, contact us today!

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥101°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: $13,878
• − Mortgage interest: −$7,254
• − Property taxes: −$1,942
• − Insurance: −$648
• − Repairs & maintenance: −$1,110
• − Management: −$1,110
• − Depreciation: −$3,767
• Taxable loss: −$1,954
• Est. tax savings @ 24.0%: +$469
• After-tax cash flow: $693/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

Good 75/100 Cosmetic rehab

This manufactured home is in good condition with minimal repairs needed. It offers a well-designed kitchen and walk-in shower, making it suitable for both resale and rental in a community supporting the retired lifestyle.

Value-add opportunities

• Both Painting exterior and interior — Enhances curb appeal and interior aesthetics
• Both Landscaping improvements — Enhances curb appeal and adds value
• Both New flooring in kitchen and bathrooms — Improves functionality and aesthetics
• Both New appliances — Enhances functionality and aesthetics

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior — Enhances curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Enhances curb appeal and adds value ↑
• Both New flooring in kitchen and bathrooms — Improves functionality and aesthetics ↑
• Both New appliances — Enhances functionality and aesthetics ↑

ⓘ 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: Rensselaer Central School Corporation
• NCES district ID: 1809420
• Math proficiency: 45% ▲ 3.00%
• Reading proficiency: 53% ▲ 2.00%
• Median HH income: $52,359
• Composite: 42.16/100
• National rank: #3296
• State rank: #63 of 301 in IN

Livability — Rensselaer

• Score: 70/100
• State rank: #145
• US rank: #7381

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 10,097

Population outlook (Jasper County) Hauer SSP2

• Today (2025): 33,185 people
• By 2030: 32,635 · -1.7%
• By 2040: 31,232 · -5.9%
• By 2050: 29,630 · -10.7%
• By 2075: 25,938 · -21.8%
• By 2100: 21,635 · -34.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Hispanic / Latino 9% Two or more races 7% Black 1%
• Hispanic origin (detail): Mexican 7% Puerto Rican 1%
• Common ancestry: Romanian 5% Iranian 5% Lithuanian 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 95% English-only · Spanish 4%

Political lean MEDSL · Jasper

• 2024 margin: Solid R (+54.3) · D 22.1% · R 76.4% · Other 1.6%
• 2008→2024 swing: -33.9pp toward R · 2008: -20.4pp · 2024: -54.3pp
• All cycles: 2024: R+54.3 2020: R+49.0 2016: R+45.4 2012: R+25.5 2008: R+20.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -43.74%
• Current HPI: 239.8976
• 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

+0.4% since first listed

2 events — show timeline

• 2025-11-10 Price Changed $129,500 Zillow
• 2025-11-08 Listed $129,000 Zillow