310 N Oak St · Redkey, IN 47373

$135,000

3 bd · 2.0 ba · 1,404 sqft · Manufactured public records · 1 Days on market

Built 1997 0.48 ac lot

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Why this score? — see what drove the D- 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).

• Appreciation +8.7/10.0
• Cash flow +7.8/30.0
• ARV discount +7.5/15.0
• Livability +3.3/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• DSCR +1.9/10.0

Listing remarks

Nice 3 bedroom, 2 full bath home conveniently located less than a block from State Road 67 in Redkey! Inside you'll find a well flowing layout with the main bedroom with an en suite bath separated from the other two bedrooms for privacy. The living room flows nicely into the dining room and kitchen with a semi-open concept design with the laundry room located just a few steps away. Just past the laundry room, you'll walk into the two-car attached garage, perfect for keeping you out of the weather. Outside, you'll find a nice large corner lot containing 3 lots total. There is a small deck in the back overlooking the fenced in back yard. As an added bonus, not only do the appliances stay, bu

Key facts

• Appliances stay
• Fenced in back yard
• En suite bath

Tags

• CORNER LOT
• FENCED IN BACK YARD
• SEMI-OPEN CONCEPT DESIGN
• TWO-CAR ATTACHED GARAGE
• EN SUITE BATH
• APPLIANCES STAY

Property features AI

Exterior

• Parking: Attached garage; 2-car garage; Heated garage; Garage door opener; Off-street parking; Asphalt and gravel surfaces
• Security: Smoke detectors; Carbon monoxide detectors
• Utilities: Public water; Public sewer; Cable available; Public power
• Home design: Manufactured home (Residential property); Single-story; Entry and main living on main level
• Construction: Vinyl siding; Asphalt shingle roof; Block foundation; Built as a manufactured/mobile home
• Exterior features: Covered porch; Deck; Fire pit; Chain link fencing; Corner, level lot; Asphalt road access (publicly maintained)

Interior

• Kitchen: Gas cooktop; Gas oven; Microwave; Dishwasher; Disposal; Exhaust fan; Refrigerator; Laminate counters
• Bedrooms: Bedrooms located on main level
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms, both on the main level
• Heating & cooling: Natural gas forced air heating; Central air conditioning; Ceiling fan(s)
• Interior features: Breakfast bar; Ceiling fan(s); Open floor plan; Laminate countertops; Window treatments; Fire pit (exterior feature noted inside exterior group)
• Laundry & utility: Washer hookup on main level; Electric dryer hookup on main level; Washer and dryer appliances present; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $135k.

Deal economics

• At list price, monthly cash flow is $-152 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $113k (16.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $99k (26.8% below list).
• Recommended offer: $99k (26.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 66/100 on livability (#290 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety D, amenities F, commute F.
• Jay School Corporation (rural): math 38% / reading 37% proficiency, ranked #175 of 301 in IN (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Redkey Elementary School (math 47% / reading 37%, grade F, #434 of 994 statewide, top 48%, 269 students, 56% FRL); Jay County Jr/Sr High School (math 34% / reading 41%, grade F, #245 of 369 statewide, top 67%, 1,242 students, 50% FRL).
• Market conditions: 4 active listings in the ZIP; 19 units permitted in Jay County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($933 loan paydown + $10k appreciation (7.5% local appreciation)).
• Jay County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 4, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $98,887 (26.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.73% ✗
• Cap rate: 4.94%
• Cash-on-cash: -4.82%
• DSCR: 0.79
• GRM: 11.4

CMA / ARV

• ARV (on-the-fly): $78,624
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
355 S Meridian St	0.53mi	3/2.0	1,344 (-4%)	23mo	$75,106	$56	48

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

Projected returns pro-forma

7.49% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 15.2%
• Equity multiple: 2.10×
• Total profit: $41,635
• Equity at exit: $97,959

10-year hold

• IRR: 15.0%
• Equity multiple: 4.39×
• Total profit: $127,993
• Equity at exit: $190,214

Cash invested: $37,800 (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 47373

• Home prices YoY: 2.6%
• Active inventory: 4
• Price-to-rent: 11.4×

Monthly cashflow live

• Estimated rent: $989 medium
• Mortgage (P&I): −$708
• Tax est. 1.5%: −$169 /mo · $2,025/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$208
• Net cashflow: $-152

Break-even live

Break-even rent $1,181

Max offer price $113,042

Occupancy floor —

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-18
   remarks 699-char remark
2. 2026-06-18
   listed $135,000 Active 1 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 3/10 Moderate 7 d/yr ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,866
• − Mortgage interest: −$7,562
• − Property taxes: −$2,025
• − Insurance: −$675
• − Repairs & maintenance: −$949
• − Management: −$949
• − Depreciation: −$3,927
• Taxable loss: −$4,222
• Est. tax savings @ 24.0%: +$1,013
• After-tax cash flow: $-808/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: Jay School Corporation
• NCES district ID: 1804980
• Math proficiency: 38% ▼ -13.00%
• Reading proficiency: 37% ▼ -13.00%
• Median HH income: $40,841
• Composite: 31.56/100
• National rank: #5954
• State rank: #175 of 301 in IN

Livability — Redkey

• Score: 66/100
• State rank: #290
• US rank: #11797

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Redkey, IN
• Population (ZIP): 2,218

Population outlook (Jay County) Hauer SSP2

• Today (2025): 20,586 people
• By 2030: 20,155 · -2.1%
• By 2040: 19,274 · -6.4%
• By 2050: 18,203 · -11.6%
• By 2075: 15,062 · -26.8%
• By 2100: 10,857 · -47.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 6% Two or more races 3%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Slovak 12% Italian 4% Iranian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Jay

• 2024 margin: Solid R (+55.2) · D 21.6% · R 76.7% · Other 1.7%
• 2008→2024 swing: -47.3pp toward R · 2008: -7.8pp · 2024: -55.2pp
• All cycles: 2024: R+55.2 2020: R+52.4 2016: R+47.8 2012: R+20.0 2008: R+7.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.49%
• Current HPI: 296.9916
• 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

1 event — show timeline

• 2026-06-18 Listed $135,000 IRMLS

Property tax history

-15.1%/yr

Latest (2025): $227 · -24.3% YoY. Source: county tax records.