6008 Moeller Rd #90

New Haven, IN 46806

$58,100B

3 bd · 2.0 ba · 1,056 sqft · Built 2024 · Manufactured · Active · 92 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,263/mo
• Mortgage (P&I): −$305
• Tax + insurance: −$97
• HOA: −$0
• Vac / Maint / Mgmt: −$265
• Net cashflow: $596/mo
• Annual: $7,156/yr
• Cap rate: 18.61%
• Cash-on-cash: 43.99%
• DSCR: 2.96
• 1% rule: 2.17%
• Cash to close: $16,268

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $58k.
• At list price, monthly cash flow is $596 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $58k).
• It's been on market 92 days — a 9% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $53k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $402 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#149 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: employment D, amenities F, commute F.
• East Allen County Schools (suburban): math 36% / reading 47% proficiency, ranked #122 of 301 in IN (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Prince Chapman Academy (math 16% / reading 20%, grade F, #834 of 994 statewide, top 84%, 793 students, 86% FRL); Paul Harding Jr High School (math 11% / reading 25%, grade F, #279 of 330 statewide, top 86%, 430 students, 88% FRL); New Haven Jr/Sr High School (math 21% / reading 50%, grade F, #263 of 369 statewide, top 72%, 1,494 students, 67% FRL) — zoned schools average 80% FRL vs 43% district-wide (37 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 24% at this address vs 42% district-wide (-18 pts) — the specific schools serving this property underperform the East Allen County Schools average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+4.9%/yr); 133 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,861 units permitted in Allen County in 2024 (576 in 5+ unit buildings).
• Allen County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 4.9% rent growth), your $16k cash investment doubles in ~3 years — after that, you're playing with house money.
• Cap rate 18.6% vs local median 4.8% in New Haven — 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.
• This rent runs 32% of the median local income ($48k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 92 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.