The Ozark Plan · Michigan City, IN 46360

$93,500

3 bd · 2.0 ba · 1,153 sqft · Manufactured · 533 Days on market

Manufactured home Good condition $575/mo HOA · 46% of rent

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Rent growth +4.9/5.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• 1% rule +2.7/10.0
• Appreciation +2.5/10.0
• Schools +2.1/10.0
• Cash flow +0.5/30.0
• DSCR +0.0/10.0
• Manufactured-home adj. -2.3

Listing remarks MLS

Welcome home to this 3 bedroom, 2 bath home. .. BRAND NEW! The master suite is at the rear end of the home for complete privacy with a walk in closet and bathroom with full bathtub/shower combo. The kitchen has floor to ceiling cabinets with the following appliances: -Refrigerator -Dishwasher -Microwave -Gas Stove The other two bedrooms and full bathroom are adjacent to each other with full closets. The 2nd bathroom is also a full bath with a bathtub/shower combo.

Key facts

• Master suite
• Walk in closet
• Central air unit

Tags

• MASTER SUITE
• WALK IN CLOSET
• FLOOR TO CEILING CABINETS
• CENTRAL AIR UNIT
• TWO WOODEN ENTRANCE DECKS
• GAS FORCED AIR FURNACE

🏗️ New construction. The $93,500 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $163,785.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $94k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-711 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $61k (34.9% below list).
• Meets the 1% rule at list price ($1k rent vs $94k).
• Recommended offer: $61k (34.9% below list) — sets the bar for cash-flow.
• Cap rate 1.1% vs local median 4.2% in Michigan City — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 81/100 on livability (#15 in IN, #1,317 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: employment D, amenities D-.
• Michigan City Area Schools (urban): math 23% / reading 28% proficiency, ranked #262 of 301 in IN (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Joy Elementary School (math 22% / reading 22%, grade F, #790 of 994 statewide, top 81%, 460 students, 78% FRL); Martin T Krueger Middle School (math 14% / reading 17%, grade F, #293 of 330 statewide, top 90%, 333 students, 84% FRL); Michigan City High School (math 17% / reading 37%, grade F, #315 of 369 statewide, top 86%, 1,555 students, 71% FRL).
• Market conditions: Rents rising fast (+9.7%/yr); 648 active listings in the ZIP; 216 units permitted in LaPorte County in 2024 (75 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• LaPorte County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 533 days — a 12% lower offer ($82k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; HOA is 46% of rent.

Recommended offer $60,876 (34.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 533 days. Have you received any prior offers? Is the seller open to a 35% concession, seller financing, or rate buy-down credit?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
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: 0.77% ✗
• Cap rate: 1.08%
• Cash-on-cash: -18.61%
• DSCR: 0.17
• GRM: 10.8

CMA / ARV

• ARV (median comp): $163,785
• List price: $93,500
• Delta: -42.91%
• Verdict: UNDERPRICED
• Comps: 15 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3209 Springland Ave	0.36mi	3/1.0	1,260 (+9%)	9mo	$203,000	$161	56
113 Willow Spring Ct	0.32mi	3/1.0	925 (-20%)	1mo	$163,000	$176	56
11 Tryon Farm Ln	1.12mi	2/2.0 (-1)	1,183 (+3%)	2mo	$279,000	$236	54
206 Tryon Farm Ln	1.30mi	3/2.0	1,412 (+22%)	0mo	$470,000	$333	40
201 Motts Pkwy	1.22mi	3/1.5	1,255 (+9%)	13mo	$185,000	$147	37
2901 Springland Ave	0.70mi	3/1.0	1,050 (-9%)	15mo	$155,000	$148	36
129 Tulip Tree Dr	1.14mi	3/1.0	1,250 (+8%)	18mo	$188,000	$150	32
121 Rogers Ave	1.32mi	3/1.0	1,375 (+19%)	6mo	$184,900	$134	31
6316 E Tryon Rd	0.55mi	2/1.0 (-1)	880 (-24%)	14mo	$150,000	$170	28
110 Motts Pkwy	1.26mi	3/2.0	1,400 (+21%)	18mo	$235,000	$168	25
13 Tryon Farm Ln	1.12mi	2/2.0 (-1)	1,394 (+21%)	12mo	$420,000	$301	25
1104 Tryon Rd	1.46mi	2/1.5 (-1)	990 (-14%)	12mo	$250,000	$253	24

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -43.5%
• Equity multiple: -0.41×
• Total profit: $-64,803
• Equity at exit: $24,421

10-year hold

• IRR: -29.9%
• Equity multiple: -0.81×
• Total profit: $-82,926
• Equity at exit: $14,161

Cash invested: $45,860 (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 →

Active competition Active MLS

• For sale now: 1 active
• Median asking: $102,000 ($85/sqft)
• Median days on market: 502 d
• This list price: lowest-priced of the active set
• ARV vs active asking: +67.1% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 46360

• Rents YoY: 9.7%
• Active inventory: 648
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,260 medium
• Mortgage (P&I): −$859
• Tax est. 1.5%: −$205 /mo · $2,457/yr
• Insurance: −$68
• HOA: −$575
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$265
• Net cashflow: $-711

Break-even live

Break-even rent $2,161

Max offer price $60,876

Occupancy floor —

Sensitivity live

Price	-10% $-598	-5% $-655	+0% $-711	+5% $-768	+10% $-824
Rent	-10% $-811	-5% $-761	+0% $-711	+5% $-661	+10% $-612
Rate	-1.0pp $-629	-0.5pp $-670	base $-711	+0.5pp $-754	+1.0pp $-797

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: $40,946
• Closing costs: $4,914
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

HOA detail $575/mo · $6,900/yr

• Likely covers: gas

Listing history 50 events

1. 2026-11-08
   days on market $93,500 Active 533 DOM
2. 2026-11-07
   days on market $93,500 Active 532 DOM
3. 2026-11-06
   days on market $93,500 Active 531 DOM
4. 2026-11-05
   days on market $93,500 Active 530 DOM
5. 2026-11-04
   days on market $93,500 Active 529 DOM
6. 2026-11-02
   days on market $93,500 Active 527 DOM
7. 2026-11-01
   days on market $93,500 Active 526 DOM
8. 2026-10-31
   days on market $93,500 Active 525 DOM
9. 2026-10-30
   days on market $93,500 Active 524 DOM
10. 2026-10-29
    days on market $93,500 Active 523 DOM
11. 2026-10-28
    days on market $93,500 Active 522 DOM
12. 2026-10-27
    days on market $93,500 Active 521 DOM
13. 2026-10-26
    days on market $93,500 Active 520 DOM
14. 2026-10-25
    days on market $93,500 Active 519 DOM
15. 2026-10-24
    days on market $93,500 Active 518 DOM
16. 2026-10-23
    days on market $93,500 Active 517 DOM
17. 2026-10-22
    days on market $93,500 Active 516 DOM
18. 2026-10-21
    days on market $93,500 Active 515 DOM
19. 2026-10-20
    days on market $93,500 Active 514 DOM
20. 2026-10-19
    days on market $93,500 Active 513 DOM
21. 2026-10-18
    days on market $93,500 Active 512 DOM
22. 2026-10-17
    days on market $93,500 Active 511 DOM
23. 2026-10-16
    days on market $93,500 Active 510 DOM
24. 2026-10-15
    days on market $93,500 Active 509 DOM
25. 2026-10-14
    days on market $93,500 Active 508 DOM
26. 2026-10-13
    days on market $93,500 Active 507 DOM
27. 2026-10-12
    days on market $93,500 Active 506 DOM
28. 2026-10-11
    days on market $93,500 Active 505 DOM
29. 2026-10-10
    days on market $93,500 Active 504 DOM
30. 2026-10-09
    days on market $93,500 Active 503 DOM
31. 2026-10-08
    days on market $93,500 Active 502 DOM
32. 2026-10-07
    days on market $93,500 Active 501 DOM
33. 2026-10-06
    days on market $93,500 Active 500 DOM
34. 2026-10-05
    days on market $93,500 Active 499 DOM
35. 2026-10-04
    days on market $93,500 Active 498 DOM
36. 2026-10-03
    days on market $93,500 Active 497 DOM
37. 2026-10-02
    days on market $93,500 Active 496 DOM
38. 2026-10-01
    days on market $93,500 Active 495 DOM
39. 2026-09-30
    days on market $93,500 Active 494 DOM
40. 2026-09-29
    days on market $93,500 Active 493 DOM
41. 2026-09-28
    days on market $93,500 Active 492 DOM
42. 2026-09-27
    days on market $93,500 Active 491 DOM
43. 2026-09-26
    days on market $93,500 Active 490 DOM
44. 2026-09-25
    days on market $93,500 Active 489 DOM
45. 2026-09-24
    days on market $93,500 Active 488 DOM
46. 2026-09-24
    days on market $93,500 Active 487 DOM
47. 2026-09-22
    days on market $93,500 Active 486 DOM
48. 2026-09-20
    days on market $93,500 Active 484 DOM
49. 2026-09-18
    days on market $93,500 Active 482 DOM
50. 2026-09-17
    days on market $93,500 Active 481 DOM

ⓘ 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 2/10 Low 7 d/yr ≥100°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,125
• − Mortgage interest: −$9,175
• − Property taxes: −$2,457
• − Insurance: −$819
• − Repairs & maintenance: −$1,210
• − Management: −$1,210
• − HOA: −$6,900
• − Depreciation: −$4,765
• Taxable loss: −$11,410
• Est. tax savings @ 24.0%: +$2,738
• After-tax cash flow: $-5,796/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

Good 80/100 Cosmetic rehab Est. rehab $5,765–$17,295 screening

This modern manufactured home is in good condition with a good layout and finishes. It has a good resale and rental value with minor updates that can further enhance its appeal.

Value-add opportunities

• Both Paint the interior walls — Fresh paint can make the home feel new and improve curb appeal ↑
• Both Replace the kitchen faucet — A new faucet can enhance the kitchen's functionality and aesthetics ↑
• Both Install a smart thermostat — A smart thermostat can improve energy efficiency and comfort ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 22/100

Zoned Schools

Elementary Joy Elementary School F IN #790/994 Nat'l #32,000/41,679 Middle Martin T Krueger Middle School F IN #293/330 Nat'l #12,557/14,009 High Michigan City High School F IN #315/369 Nat'l #11,887/17,239

Schools (NCES district)

• District: Michigan City Area Schools
• NCES district ID: 1806570
• Math proficiency: 23% ▼ -16.00%
• Reading proficiency: 28% ▼ -10.00%
• Median HH income: $42,629
• Composite: 21.76/100
• National rank: #8257
• State rank: #262 of 301 in IN

A Composite livability gradescore 81/100

Livability — Michigan City

• Score: 81/100
• State rank: #15
• US rank: #1317

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Michigan City, IN
• County: La Porte County · 109,757 people
• City population: 43,817
• Metro: Michigan City-La Porte, IN
• Population (ZIP): 43,817
• Household income: $59,266
• Rent vs Own: 31.8% rent · 68.2% own
• Severe rent burden: 9% of renters

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Population outlook (LaPorte County) Hauer SSP2

• Today (2025): 109,757 people
• By 2030: 108,288 · -1.3%
• By 2040: 105,070 · -4.3%
• By 2050: 102,330 · -6.8%
• By 2075: 97,009 · -11.6%
• By 2100: 86,459 · -21.2%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Black 20% Hispanic / Latino 8% Two or more races 7%
• Hispanic origin (detail): Mexican 5%
• Languages at home: 95% English-only · Spanish 3%

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Political lean MEDSL · LaPorte

• 2024 margin: R (+14.1) · D 42.1% · R 56.2% · Other 1.7%
• 2008→2024 swing: -19.1pp toward R · 2008: 5.0pp · 2024: -14.1pp
• All cycles: 2024: R+14.1 2020: R+7.2 2016: R+6.4 2012: D+12.6 2008: D+5.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -210.27%
• Current HPI: 206.0882
• Rent YoY: ▲ 9.72%
• Metro: Michigan City-La Porte, IN
• State GDP YoY: ▲ 2.90%
• F500 in state: 18

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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

+10.0% since first listed

5 events — show timeline

• 2025-12-02 Price Changed $93,500 Zillow
• 2025-12-02 Price Changed $89,999 Zillow
• 2025-12-02 Price Changed $93,500 Zillow
• 2025-11-20 Price Changed $89,999 Zillow
• 2025-05-24 Listed $85,000 Zillow