14601 N Oak St · Carbon, IN 47837

$79,900

3 bd · 1.0 ba · 1,440 sqft · Manufactured public records · 44 Days on market

Built 1976 0.26 ac lot $55/sqft · 127% above 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
• Appreciation +9.2/10.0
• ARV discount +7.5/15.0
• Schools +4.0/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Bank-owned opportunity in Carbon, Indiana! This 1976 manufactured home offers 3 bedrooms, 2 bathrooms, and a 2-car detached garage, all set in a peaceful rural location. Property needs some TLC and is priced accordingly—perfect for investors or handy buyers looking to add value. Cash or conventional financing only. Don’t miss the potential this property has to offer!

Key facts

• 0.26 acre lot
• 2 garage spots
• Built 1976

Property features AI

Exterior

• Parking: Detached 2-car garage
• Home design: Single-story manufactured home; Residential property
• Construction: Manufactured home construction
• Exterior features: Shingle roof; Lot of about 0.26 acres; Residential zoning

Interior

• Bathrooms: 2 full bathrooms
• Interior features: Crawl space basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $80k.

Deal economics

• At list price, monthly cash flow is $398 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $78k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 56/100 on livability (#618 in IN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-; Watch: crime D, amenities F, commute F.
• Clay Community Schools (rural): math 46% / reading 49% proficiency, ranked #79 of 301 in IN (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Van Buren Elementary School (math 37% / reading 42%, grade F, #500 of 994 statewide, top 53%, 246 students, 65% FRL); North Clay Middle School (math 42% / reading 47%, grade D, #84 of 330 statewide, top 26%, 744 students, 57% FRL); Northview High School (math 43% / reading 66%, grade C-, #79 of 369 statewide, top 26%, 943 students, 46% FRL).
• Market conditions: 3 active listings in the ZIP; 70 units permitted in Clay County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($552 loan paydown + $7k appreciation (8.4% local appreciation)).
• Clay County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (8.4% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 23y ago; this cycle's ask has dropped $5k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $77,503 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is D 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?
6. 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.
7. 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.
8. 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: 1.51% ✓
• Cap rate: 12.27%
• Cash-on-cash: 21.36%
• DSCR: 1.95
• GRM: 5.5

CMA / ARV

• ARV (median comp): $35,201
• List price: $79,900
• Delta: 126.98%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
25 W N Second St	0.07mi	3/2.0	1,620 (+12%)	11mo	$35,000	$22	63

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

Projected returns pro-forma

8.4% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 37.5%
• Equity multiple: 3.70×
• Total profit: $60,354
• Equity at exit: $62,893

10-year hold

• IRR: 33.2%
• Equity multiple: 7.99×
• Total profit: $156,436
• Equity at exit: $126,991

Cash invested: $22,372 (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 47837

• Home prices YoY: 3.5%
• Active inventory: 3
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,203 medium
• Mortgage (P&I): −$419
• Tax est. 1.5%: −$100 /mo · $1,198/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$253
• Net cashflow: $398

Break-even live

Break-even rent $699

Max offer price $79,900

Occupancy floor 62%

Sensitivity live

Price	-10% $453	-5% $426	+0% $398	+5% $371	+10% $343
Rent	-10% $303	-5% $351	+0% $398	+5% $446	+10% $493
Rate	-1.0pp $438	-0.5pp $419	base $398	+0.5pp $378	+1.0pp $356

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $79,900 Active 44 DOM
2. 2026-06-18
   days on market $79,900 Active 43 DOM
3. 2026-06-17
   days on market $79,900 Active 42 DOM
4. 2026-06-16
   days on market $79,900 Active 41 DOM
5. 2026-06-15
   days on market $79,900 Active 40 DOM
6. 2026-06-14
   days on market $79,900 Active 38 DOM
7. 2026-06-13
   days on market $79,900 Active 37 DOM
8. 2026-06-10
   days on market $79,900 Active 35 DOM
9. 2026-06-09
   days on market $79,900 Active 34 DOM
10. 2026-06-08
    days on market $79,900 Active 33 DOM
11. 2026-06-07
    days on market $79,900 Active 32 DOM
12. 2026-06-05
    days on market $79,900 Active 29 DOM
13. 2026-06-02
    days on market $79,900 Active 27 DOM
14. 2026-06-01
    days on market $79,900 Active 26 DOM
15. 2026-05-31
    days on market $79,900 Active 25 DOM
16. 2026-05-30
    days on market $79,900 Active 24 DOM
17. 2026-05-05
    listed $84,900 Active 381-char remark
18. 2022-10-25
    soldstatus $90,000
19. 2003-07-18
    historical
20. 2003-03-18
    listed $69,500

ⓘ 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 4/10 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 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,436
• − Mortgage interest: −$4,476
• − Property taxes: −$1,198
• − Insurance: −$400
• − Repairs & maintenance: −$1,155
• − Management: −$1,155
• − Depreciation: −$2,324
• Taxable income: $3,728
• Est. tax owed @ 24.0%: −$895
• After-tax cash flow: $3,884/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: Clay Community Schools
• NCES district ID: 1800840
• Math proficiency: 46% ▼ -6.00%
• Reading proficiency: 49% ▼ -1.00%
• Median HH income: $46,673
• Composite: 40.39/100
• National rank: #3733
• State rank: #79 of 301 in IN

Livability — Carbon

• Score: 56/100
• State rank: #618
• US rank: #22641

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Carbon, IN
• Population (ZIP): 876

Population outlook (Clay County) Hauer SSP2

• Today (2025): 25,820 people
• By 2030: 25,182 · -2.5%
• By 2040: 23,562 · -8.7%
• By 2050: 21,829 · -15.5%
• By 2075: 17,939 · -30.5%
• By 2100: 14,042 · -45.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (100%)
• Race & ethnicity: White 100%
• Common ancestry: Lithuanian 2% Italian 2% Portuguese 1%

Political lean MEDSL · Clay

• 2024 margin: Solid R (+56.9) · D 20.7% · R 77.6% · Other 1.7%
• 2008→2024 swing: -45.4pp toward R · 2008: -11.5pp · 2024: -56.9pp
• All cycles: 2024: R+56.9 2020: R+56.6 2016: R+55.3 2012: R+31.4 2008: R+11.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.40%
• Current HPI: 250.6063
• 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

+15.0% since first listed

5 events — show timeline

• 2026-05-20 Price Changed $79,900 THAAR
• 2026-05-05 Listed $84,900 THAAR
• 2022-10-25 Sold (Public Records) $90,000 Public Records
• 2003-07-18 Listing Removed — MIBOR as Distributed by MLS Grid
• 2003-03-18 Listed $69,500 MIBOR as Distributed by MLS Grid

Property tax history

-14.6%/yr

Latest (2024): $89 · -26.2% YoY. Source: county tax records.