2121 Adams Dr · Sellersburg, IN 47172

$106,000

4 bd · 2.0 ba · 1,904 sqft · Manufactured · 28 Days on market

Built 2026 Good condition $560/mo HOA · 28% of rent

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Why this score? — see what drove the B- 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 +27.4/30.0
• 1% rule +10.0/10.0
• DSCR +9.6/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Condition / age +4.0/5.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Previously owned 4 bed, 2 bath home located at 2121 Adams Dr Home Highlights - Move-in ready - Spacious layout - Community Amenities include: Basketball Court, Clubhouse and Playground - Located just off the Salem exit of I-65 on the outskirts of Sellersburg - Silver Creek School District

Key facts

• Move-in ready
• Clubhouse
• Basketball court

Tags

• MOVE-IN READY
• BASKETBALL COURT
• CLUBHOUSE
• PLAYGROUND
• SILVER CREEK SCHOOL DISTRICT

Property features AI

Finance

• Financial info: List price $106,000
• HOA & community: Association fee: $560 (association present)

Exterior

• Home design: Single-family spec home — Grand (Indian Oaks) plan
• Construction: Built as new construction (spec)
• Exterior features: Property listed at 2121 Adams Dr, Sellersburg, IN 47172

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: Open living area (approx. 1,904 finished); Spec home (new construction)

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $106k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $309 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $106k).
• Recommended offer: $104k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.8% vs local median 4.0% in Sellersburg — 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 73/100 on livability (#85 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: schools D+, commute D+, health & safety D+.
• Market conditions: 146 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 911 units permitted in Clark County in 2024 (133 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $733 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Clark County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $30k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($104k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 28% of rent.

Recommended offer $104,410 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 1.91% ✓
• Cap rate: 9.79%
• Cash-on-cash: 12.50%
• DSCR: 1.56
• GRM: 4.4

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: 2.5%
• Equity multiple: 1.10×
• Total profit: $2,888
• Equity at exit: $15,805

10-year hold

• IRR: 12.4%
• Equity multiple: 1.99×
• Total profit: $29,390
• Equity at exit: $9,165

Cash invested: $29,680 (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 47172

• Active inventory: 146
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $2,027 medium
• Mortgage (P&I): −$556
• Tax est. 1.5%: −$132 /mo · $1,590/yr
• Insurance: −$44
• HOA: −$560
• Vacancy / Maint / Mgmt: −$426
• Net cashflow: $309

Break-even live

Break-even rent $1,636

Max offer price $106,000

Occupancy floor 80%

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: $26,500
• Closing costs: $3,180
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7608 Julia Dr Sellersburg, IN	3.0	2.0	1500	$2,000	$1.33	1d	1	0.71mi
1026 Sweet Amy Way Sellersburg, IN	3.0	2.5	1288	$1,850	$1.44	43d	1	1.09mi
2806 Winchester Dr Sellersburg, IN	4.0	2.0	2390	$2,365	$0.99	1d	1	1.21mi

HOA detail

• Monthly dues: $560 · $6,720/yr

Listing history 13 events

1. 2026-06-18
   days on market $106,000 Active 28 DOM
2. 2026-06-17
   days on market $106,000 Active 27 DOM
3. 2026-06-16
   days on market $106,000 Active 26 DOM
4. 2026-06-15
   days on market $106,000 Active 25 DOM
5. 2026-06-13
   days on market $106,000 Active 23 DOM
6. 2026-06-10
   days on market $106,000 Active 20 DOM
7. 2026-06-09
   days on market $106,000 Active 19 DOM
8. 2026-06-08
   days on market $106,000 Active 18 DOM
9. 2026-06-07
   days on market $106,000 Active 17 DOM
10. 2026-06-03
    days on market $106,000 Active 13 DOM
11. 2026-06-02
    days on market $106,000 Active 12 DOM
12. 2026-06-01
    days on market $106,000 Active 11 DOM
13. 2026-05-31
    days on market $106,000 Active 10 DOM

ⓘ 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: $24,329
• − Mortgage interest: −$5,938
• − Property taxes: −$1,590
• − Insurance: −$530
• − Repairs & maintenance: −$1,946
• − Management: −$1,946
• − HOA: −$6,720
• − Depreciation: −$3,084
• Taxable income: $2,575
• Est. tax owed @ 24.0%: −$618
• After-tax cash flow: $3,092/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 · 12 photos

Good 80/100 Cosmetic rehab

This move-in ready manufactured home is in good condition with a fresh exterior and well-maintained interior. Minor updates to the exterior and interior can further enhance its value and appeal.

Value-add opportunities

• Resale Paint exterior siding — Fresh paint can enhance curb appeal and home value.
• Resale Replace countertops — Modern countertops can increase the home's appeal and value.
• Both Install smart home features — Smart home features can improve convenience and add value for both buyers and renters.

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior siding — Fresh paint can enhance curb appeal and home value. ↑
• Resale Replace countertops — Modern countertops can increase the home's appeal and value. ↑
• Both Install smart home features — Smart home features can improve convenience and add value for both buyers and 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)

No district data.

Livability — Sellersburg

• Score: 73/100
• State rank: #85
• US rank: #5005

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sellersburg, IN
• County: Clark County · 108,879 people
• City population: 21,045
• Metro: Louisville/Jefferson County, KY-IN
• Population (ZIP): 21,045
• Household income: $82,503
• Rent vs Own: 17.1% rent · 82.9% own
• Severe rent burden: 250.0

Population outlook (Clark County) Hauer SSP2

• Today (2025): 126,401 people
• By 2030: 131,455 · +4.0%
• By 2040: 140,471 · +11.1%
• By 2050: 147,677 · +16.8%
• By 2075: 161,702 · +27.9%
• By 2100: 164,078 · +29.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 7% Hispanic / Latino 3% Asian 2%
• Common ancestry: Romanian 2% Slovak 2% Italian 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2% Vietnamese 1% Other Indo-European 1%

Political lean MEDSL · Clark

• 2024 margin: Strong R (+20.4) · D 38.9% · R 59.3% · Other 1.8%
• 2008→2024 swing: -13.3pp toward R · 2008: -7.1pp · 2024: -20.4pp
• All cycles: 2024: R+20.4 2020: R+18.3 2016: R+22.0 2012: R+9.9 2008: R+7.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -114.50%
• Current HPI: 173.6209
• Rent YoY: —
• Metro: Louisville/Jefferson County, KY-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