Patriot C02 Camelot Village Plan · Anderson, IN 46013

$94,500

3 bd · 2.0 ba · 1,690 sqft · Manufactured · 97 Days on market

Fair condition

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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 +29.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• ARV discount +7.5/15.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Camelot Village is the perfect community for families who want a neat and comfortable place to call home. Centrally located with a variety of home styles at low prices and helpful property management team, you'll be sure to find the exact home that fits within your budget and lifestyle at Camelot Village. Located in Anderson Indiana, Camelot Village community offers a beautiful neighborhood for you to call home. Our communities are perfect for growing families and people who want to live in a calm and comfortable place. It's only a quick drive is the world-famous Children's Museum in Indianapolis, as well as Hoosier Park Racing & Casino, Wigwam Gym, the Anderson Museum of Art, and the Anderson Speedway. Our Camelot Village Community is also located near several restaurants, shopping, and entertainment options.

Key facts

• Listed 97 days

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

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

Deal economics

• At list price, monthly cash flow is $323 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $94k).
• Recommended offer: $86k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.4% vs local median 6.5% in Anderson — 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 60/100 on livability (#521 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools F, crime D-, amenities F.
• Anderson Community School Corporation (urban): math 15% / reading 23% proficiency, ranked #280 of 301 in IN (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 150 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 184 units permitted in Madison County in 2024 (0 in 5+ unit buildings).
• This rent runs 30% of the median local income ($49k/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 $653 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Madison County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $26k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 97 days — a 9% lower offer ($86k) is reasonable based on typical stale-listing flexibility.

Recommended offer $85,995 (9.0% below list)

Questions for the listing agent

1. It's been on market 97 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.31% ✓
• Cap rate: 10.40%
• Cash-on-cash: 14.66%
• DSCR: 1.65
• GRM: 6.4

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: 5.2%
• Equity multiple: 1.20×
• Total profit: $5,299
• Equity at exit: $14,090

10-year hold

• IRR: 14.6%
• Equity multiple: 2.18×
• Total profit: $31,208
• Equity at exit: $8,171

Cash invested: $26,460 (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 46013

• Home prices YoY: -26.9%
• Active inventory: 150
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,236 medium
• Mortgage (P&I): −$496
• Tax est. 1.5%: −$118 /mo · $1,418/yr
• Insurance: −$39
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $323

Break-even live

Break-even rent $827

Max offer price $94,500

Occupancy floor 69%

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: $23,625
• Closing costs: $2,835
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3815 Camelot Blvd Anderson, IN	3.0	2.0	1456	$1,179	$0.81	1d	2	0.05mi
2203 W 28th St Anderson, IN	3.0	1.0	1068	$1,000	$0.94	43d	1	0.93mi
2613 Louise St Anderson, IN	2.0	1.0	1096	$950	$0.87	21d	1	1.11mi
4325 S Madison Ave Anderson, IN	1.0–3.0	1.0–1.5	995	$1,330	$1.34	1d	6	1.23mi

Listing history 9 events

1. 2026-06-09
   days on market $94,500 Active 97 DOM
2. 2026-06-08
   days on market $94,500 Active 96 DOM
3. 2026-06-07
   days on market $94,500 Active 95 DOM
4. 2026-06-05
   days on market $94,500 Active 92 DOM
5. 2026-06-03
   days on market $94,500 Active 91 DOM
6. 2026-06-02
   days on market $94,500 Active 90 DOM
7. 2026-06-01
   days on market $94,500 Active 89 DOM
8. 2026-05-31
   days on market $94,500 Active 88 DOM
9. 2026-03-04
   listed $94,500 Active 827-char remark

   Show marketing remark (827 chars)

   Camelot Village is the perfect community for families who want a neat and comfortable place to call home. Centrally located with a variety of home styles at low prices and helpful property management team, you'll be sure to find the exact home that fits within your budget and lifestyle at Camelot Village. Located in Anderson Indiana, Camelot Village community offers a beautiful neighborhood for you to call home. Our communities are perfect for growing families and people who want to live in a calm and comfortable place. It's only a quick drive is the world-famous Children's Museum in Indianapolis, as well as Hoosier Park Racing & Casino, Wigwam Gym, the Anderson Museum of Art, and the Anderson Speedway. Our Camelot Village Community is also located near several restaurants, shopping, and entertainment options.

ⓘ 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: $14,832
• − Mortgage interest: −$5,293
• − Property taxes: −$1,418
• − Insurance: −$472
• − Repairs & maintenance: −$1,187
• − Management: −$1,187
• − Depreciation: −$2,749
• Taxable income: $2,526
• Est. tax owed @ 24.0%: −$606
• After-tax cash flow: $3,274/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 · 10 photos

Fair 45/100 Moderate rehab

This manufactured home requires moderate repairs to its exterior and interior paint, but presents a good opportunity for updates that can significantly increase its value.

Repairs flagged

• Major exterior siding — Significant wear and tear
• Minor interior paint — Faded paint

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value
• Both Replace cabinetry — Modernizes kitchen and adds value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant wear and tear	Major	$15,000–50,000
interior paint · Faded paint	Minor	$500–3,000
Total estimated repair cost · 2 items		$15,500–53,000

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and value ↑
• Both Replace cabinetry — Modernizes kitchen and adds 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: Anderson Community School Corporation
• NCES district ID: 1800150
• Math proficiency: 15% ▼ -14.00%
• Reading proficiency: 23% ▼ -7.00%
• Median HH income: $38,208
• Composite: 15.93/100
• National rank: #9250
• State rank: #280 of 301 in IN

Livability — Anderson

• Score: 60/100
• State rank: #521
• US rank: #18709

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Anderson, IN
• County: Madison County · 69,445 people
• City population: 57,762
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 19,073
• Household income: $49,310
• Rent vs Own: 34.8% rent · 65.2% own
• Severe rent burden: 612.0

Population outlook (Madison County) Hauer SSP2

• Today (2025): 125,800 people
• By 2030: 122,640 · -2.5%
• By 2040: 115,420 · -8.3%
• By 2050: 108,148 · -14.0%
• By 2075: 91,838 · -27.0%
• By 2100: 75,670 · -39.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Two or more races 8% Black 7% Hispanic / Latino 3%
• Common ancestry: Lithuanian 2% Slovak 2% Italian 1%
• Foreign-born: 0% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Madison

• 2024 margin: Strong R (+26.9) · D 35.6% · R 62.5% · Other 1.9%
• 2008→2024 swing: -33.5pp toward R · 2008: 6.5pp · 2024: -26.9pp
• All cycles: 2024: R+26.9 2020: R+22.6 2016: R+25.7 2012: R+4.5 2008: D+6.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -86.70%
• Current HPI: 235.7485
• Rent YoY: —
• Metro: Indianapolis-Carmel-Anderson, 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

Price history

1 event — show timeline

• 2026-03-04 Listed $94,500 Zillow