Flex · Darmstadt, IN 47720

$70,995

3 bd · 2.0 ba · 1,056 sqft · Manufactured · 50 Days on market

Built 2026 Good condition $475/mo HOA · 36% of rent

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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 +19.8/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.3/10.0
• Condition / age +4.0/5.0
• Livability +3.5/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

2026 Champion Prime Vertex - 3 Bed, 2 Bath Built for modern, low maintenance living, this brand new single width Vertex model features a well balanced 16x66' layout with an open living space, contemporary kitchen, and three comfortable bedrooms. The bright interior, clean finishes, and efficient design make this home both practical and inviting from day one. Great location and peaceful community with very nice amenities. Contact us today!

Key facts

• Built 2026
• Listed 50 days

Property features AI

Finance

• Financial info: List price $70,995
• HOA & community: Association fee of $475 (frequency not specified)

Exterior

• Home design: Single-family dwelling (spec home); Located in Evansville, IN (47720)

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 bathrooms (full)
• Interior features: Spec home (Vertex, Grandin Pointe plan)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $71k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $84 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $71k).
• Recommended offer: $69k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 2.6% in Darmstadt — 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 (#158 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: schools C-, amenities F, commute F.
• Evansville Vanderburgh School Corporation (urban): math 36% / reading 43% proficiency, ranked #153 of 301 in IN (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 104 active listings in the ZIP; 508 units permitted in Vanderburgh County in 2024 (32 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $491 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($69k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 36% of rent.

Recommended offer $68,865 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 1.87% ✓
• Cap rate: 7.72%
• Cash-on-cash: 5.10%
• DSCR: 1.23
• GRM: 4.5

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: -7.9%
• Equity multiple: 0.71×
• Total profit: $-5,816
• Equity at exit: $10,586

10-year hold

• IRR: 2.2%
• Equity multiple: 1.16×
• Total profit: $3,125
• Equity at exit: $6,138

Cash invested: $19,879 (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 47720

• Home prices YoY: -33.7%
• Active inventory: 104
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,329 medium
• Mortgage (P&I): −$372
• Tax est. 1.5%: −$89 /mo · $1,065/yr
• Insurance: −$30
• HOA: −$475
• Vacancy / Maint / Mgmt: −$279
• Net cashflow: $84

Break-even live

Break-even rent $1,222

Max offer price $70,995

Occupancy floor 89%

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: $17,749
• Closing costs: $2,130
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $475 · $5,700/yr

Listing history 14 events

1. 2026-06-18
   days on market $70,995 Active 50 DOM
2. 2026-06-17
   days on market $70,995 Active 49 DOM
3. 2026-06-16
   days on market $70,995 Active 48 DOM
4. 2026-06-15
   days on market $70,995 Active 47 DOM
5. 2026-06-14
   days on market $70,995 Active 45 DOM
6. 2026-06-13
   days on market $70,995 Active 44 DOM
7. 2026-06-10
   days on market $70,995 Active 42 DOM
8. 2026-06-09
   days on market $70,995 Active 41 DOM
9. 2026-06-08
   days on market $70,995 Active 40 DOM
10. 2026-06-07
    days on market $70,995 Active 39 DOM
11. 2026-06-02
    days on market $70,995 Active 34 DOM
12. 2026-06-01
    days on market $70,995 Active 33 DOM
13. 2026-05-31
    days on market $70,995 Active 32 DOM
14. 2026-05-30
    days on market $70,995 Active 31 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 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,950
• − Mortgage interest: −$3,977
• − Property taxes: −$1,065
• − Insurance: −$355
• − Repairs & maintenance: −$1,276
• − Management: −$1,276
• − HOA: −$5,700
• − Depreciation: −$2,065
• Taxable income: $236
• Est. tax owed @ 24.0%: −$57
• After-tax cash flow: $956/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 · 6 photos

Good 80/100 Cosmetic rehab

This modern manufactured home is in good condition with a well-maintained exterior and interior. It offers a good balance of practicality and style, making it an attractive option for both buyers and renters. Consider landscaping and curb appeal improvements to further enhance its value.

Value-add opportunities

• Both Landscaping and curb appeal improvements — Enhances the home's curb appeal and can attract more buyers or renters.
• Both Painting exterior and interior walls — Fresh paint can make the home look more inviting and maintain its value.
• Both Landscaping and curb appeal improvements — Enhances the home's curb appeal and can attract more buyers or renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping and curb appeal improvements — Enhances the home's curb appeal and can attract more buyers or renters. ↑
• Both Painting exterior and interior walls — Fresh paint can make the home look more inviting and maintain its value. ↑
• Both Landscaping and curb appeal improvements — Enhances the home's curb appeal and can attract more buyers or renters. ↑

ⓘ 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: Evansville Vanderburgh School Corporation
• NCES district ID: 1803450
• Math proficiency: 36% ▼ -7.00%
• Reading proficiency: 43% ▼ -3.00%
• Median HH income: $43,270
• Composite: 33.41/100
• National rank: #5471
• State rank: #153 of 301 in IN

Livability — Darmstadt

• Score: 70/100
• State rank: #158
• US rank: #7769

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 17,103

Population outlook (Vanderburgh County) Hauer SSP2

• Today (2025): 187,038 people
• By 2030: 188,907 · +1.0%
• By 2040: 190,272 · +1.7%
• By 2050: 188,871 · +1.0%
• By 2075: 180,751 · -3.4%
• By 2100: 163,015 · -12.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 1%
• Common ancestry: Slovak 4% Lithuanian 3% Italian 2%
• Foreign-born: 1%

Political lean MEDSL · Vanderburgh

• 2024 margin: R (+12.7) · D 43.0% · R 55.6% · Other 1.4%
• 2008→2024 swing: -15.1pp toward R · 2008: 2.5pp · 2024: -12.7pp
• All cycles: 2024: R+12.7 2020: R+9.6 2016: R+16.9 2012: R+10.8 2008: D+2.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -98.44%
• Current HPI: 193.409
• 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