3553 Springersville Rd · Connersville, IN 47331

$69,900

3 bd · 1.0 ba · 952 sqft · Manufactured public records · 167 Days on market

Built 1991 1.68 ac lot Est $60k · 17% over ↓ 17% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.2/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +2.3/10.0
• ARV discount +0.1/15.0

Listing remarks MLS

Right price and country location - this mobile home is ideal for the buyer looking for 1.68-acre country setting and an affordable price. Convenient ramp access for front and back entrance, covered deck in front, detached garage and storage. Newer roof, furnace, storm doors, and windows. Mobile home is on a block foundation.

Key facts

• 1.68 acre lot
• Garage
• Built 1991

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $70k.

Deal economics

• At list price, monthly cash flow is $316 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $62k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.9% vs local median 4.9% in Connersville — 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 65/100 on livability (#313 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime D+, schools D-.
• Fayette County School Corporation (town): math 29% / reading 40% proficiency, ranked #206 of 301 in IN (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 171 active listings in the ZIP; 20 units permitted in Fayette County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $483 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Fayette County population projected at -26% 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 $20k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 167 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $14k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $61,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 167 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 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?
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: 1.53% ✓
• Cap rate: 12.86%
• Cash-on-cash: 23.47%
• DSCR: 2.04
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $59,976
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3553 Springersville Rd	0.00mi	2/1.0 (-1)	952 (0%)	0mo	$60,000	$63	95

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 11.4%
• Equity multiple: 1.45×
• Total profit: $8,865
• Equity at exit: $10,422

10-year hold

• IRR: 20.5%
• Equity multiple: 2.73×
• Total profit: $33,842
• Equity at exit: $6,044

Cash invested: $19,572 (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 47331

• Home prices YoY: -2.1%
• Active inventory: 171
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,070 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$67 /mo · $804/yr
• Insurance: −$29
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $316

Break-even live

Break-even rent $670

Max offer price $69,900

Occupancy floor 65%

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-05-15
   price $69,900 326-char remark

   Show marketing remark (326 chars)

   Right price and country location - this mobile home is ideal for the buyer looking for 1.68-acre country setting and an affordable price. Convenient ramp access for front and back entrance, covered deck in front, detached garage and storage. Newer roof, furnace, storm doors, and windows. Mobile home is on a block foundation.

2. 2026-05-15
   price $69,900

   Show marketing remark (326 chars)

   Right price and country location - this mobile home is ideal for the buyer looking for 1.68-acre country setting and an affordable price. Convenient ramp access for front and back entrance, covered deck in front, detached garage and storage. Newer roof, furnace, storm doors, and windows. Mobile home is on a block foundation.

3. 2026-03-25
   status Active 326-char remark

   Show marketing remark (326 chars)

   Right price and country location - this mobile home is ideal for the buyer looking for 1.68-acre country setting and an affordable price. Convenient ramp access for front and back entrance, covered deck in front, detached garage and storage. Newer roof, furnace, storm doors, and windows. Mobile home is on a block foundation.

4. 2026-03-25
   status Active

   Show marketing remark (326 chars)

   Right price and country location - this mobile home is ideal for the buyer looking for 1.68-acre country setting and an affordable price. Convenient ramp access for front and back entrance, covered deck in front, detached garage and storage. Newer roof, furnace, storm doors, and windows. Mobile home is on a block foundation.

5. 2026-03-04
   status Pending

   Show marketing remark (326 chars)

   Right price and country location - this mobile home is ideal for the buyer looking for 1.68-acre country setting and an affordable price. Convenient ramp access for front and back entrance, covered deck in front, detached garage and storage. Newer roof, furnace, storm doors, and windows. Mobile home is on a block foundation.

6. 2026-03-04
   status Pending 326-char remark

   Show marketing remark (326 chars)

   Right price and country location - this mobile home is ideal for the buyer looking for 1.68-acre country setting and an affordable price. Convenient ramp access for front and back entrance, covered deck in front, detached garage and storage. Newer roof, furnace, storm doors, and windows. Mobile home is on a block foundation.

7. 2026-01-08
   price $79,500 326-char remark

   Show marketing remark (326 chars)

   Right price and country location - this mobile home is ideal for the buyer looking for 1.68-acre country setting and an affordable price. Convenient ramp access for front and back entrance, covered deck in front, detached garage and storage. Newer roof, furnace, storm doors, and windows. Mobile home is on a block foundation.

8. 2026-01-08
   price $79,500

   Show marketing remark (326 chars)

   Right price and country location - this mobile home is ideal for the buyer looking for 1.68-acre country setting and an affordable price. Convenient ramp access for front and back entrance, covered deck in front, detached garage and storage. Newer roof, furnace, storm doors, and windows. Mobile home is on a block foundation.

9. 2025-11-17
   listed $84,500 Active 326-char remark

   Show marketing remark (326 chars)

   Right price and country location - this mobile home is ideal for the buyer looking for 1.68-acre country setting and an affordable price. Convenient ramp access for front and back entrance, covered deck in front, detached garage and storage. Newer roof, furnace, storm doors, and windows. Mobile home is on a block foundation.

10. 2025-11-17
    listed $84,400 Active

    Show marketing remark (326 chars)

    Right price and country location - this mobile home is ideal for the buyer looking for 1.68-acre country setting and an affordable price. Convenient ramp access for front and back entrance, covered deck in front, detached garage and storage. Newer roof, furnace, storm doors, and windows. Mobile home is on a block foundation.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast IN · Partial reset (capped growth)

• Current annual tax: $804 · $67/mo
• Projected year-2 tax: $804 · $67/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥100°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,843
• − Mortgage interest: −$3,915
• − Property taxes: −$804
• − Insurance: −$1,147
• − Repairs & maintenance: −$1,027
• − Management: −$1,027
• − Depreciation: −$2,033
• Taxable income: $2,888
• Est. tax owed @ 24.0%: −$693
• After-tax cash flow: $3,103/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: Fayette County School Corporation
• NCES district ID: 1803510
• Math proficiency: 29% ▼ -11.00%
• Reading proficiency: 40% ▼ -8.00%
• Median HH income: $38,669
• Composite: 28.81/100
• National rank: #6659
• State rank: #206 of 301 in IN

Livability — Connersville

• Score: 65/100
• State rank: #313
• US rank: #12417

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 22,769

Population outlook (Fayette County) Hauer SSP2

• Today (2025): 21,758 people
• By 2030: 20,673 · -5.0%
• By 2040: 18,335 · -15.7%
• By 2050: 16,056 · -26.2%
• By 2075: 11,030 · -49.3%
• By 2100: 6,800 · -68.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 1% Black 1%
• Common ancestry: Italian 2% Slovak 1% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Fayette

• 2024 margin: Solid R (+56.3) · D 21.2% · R 77.5% · Other 1.3%
• 2008→2024 swing: -50.8pp toward R · 2008: -5.6pp · 2024: -56.3pp
• All cycles: 2024: R+56.3 2020: R+54.4 2016: R+48.1 2012: R+16.9 2008: R+5.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -5.33%
• Current HPI: 252.3898
• 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

-17.3% since first listed

10 events — show timeline

• 2026-05-15 Price Changed $69,900 RRELMS
• 2026-05-15 Price Changed $69,900 ECIAOR
• 2026-03-25 Relisted — RRELMS
• 2026-03-25 Relisted — ECIAOR
• 2026-03-04 Pending — ECIAOR
• 2026-03-04 Pending — RRELMS
• 2026-01-08 Price Changed $79,500 RRELMS
• 2026-01-08 Price Changed $79,500 ECIAOR
• 2025-11-17 Listed $84,400 ECIAOR
• 2025-11-17 Listed $84,500 RRELMS

Property tax history

+0.2%/yr

Latest (2024): $804 · -10.9% YoY. Source: county tax records.