7221 Polk St · Sellersburg, IN 47172

$115,000

4 bd · 2.0 ba · 1,813 sqft · Manufactured · 199 Days on market

Built 2025 Fair condition $560/mo HOA · 28% 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 +24.6/30.0
• 1% rule +10.0/10.0
• DSCR +7.9/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Your Dream Home Just Hit the Market at Indian Oaks Pointe!

Key facts

• Built 2025
• Listed 199 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $115k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $238 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $101k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 3.9% 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: commute D+, health & safety D+, amenities F.
• Zoned schools: Silver Creek Middle School (math 31% / reading 43%, grade F, #152 of 330 statewide, top 47%, 760 students, 33% FRL); Silver Creek High School (math 27% / reading 67%, grade D-, #143 of 369 statewide, top 44%, 935 students, 31% FRL).
• Market conditions: 149 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 4d 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 $795 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.

Negotiation context

• It's been on market 199 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 28% of rent.

Recommended offer $101,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 199 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.75% ✓
• Cap rate: 8.78%
• Cash-on-cash: 8.87%
• DSCR: 1.39
• GRM: 4.8

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: 0.90×
• Total profit: $-3,094
• Equity at exit: $17,147

10-year hold

• IRR: 7.5%
• Equity multiple: 1.57×
• Total profit: $18,357
• Equity at exit: $9,943

Cash invested: $32,200 (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: 149
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $2,016 medium
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,725/yr
• Insurance: −$48
• HOA: −$560
• Vacancy / Maint / Mgmt: −$423
• Net cashflow: $238

Break-even live

Break-even rent $1,715

Max offer price $115,000

Occupancy floor 83%

Sensitivity live

Price	-10% $318	-5% $278	+0% $238	+5% $198	+10% $159
Rent	-10% $79	-5% $158	+0% $238	+5% $318	+10% $397
Rate	-1.0pp $296	-0.5pp $267	base $238	+0.5pp $208	+1.0pp $178

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: $28,750
• Closing costs: $3,450
• 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	3d	1	0.74mi
1026 Sweet Amy Way Sellersburg, IN	3.0	2.5	1288	$1,850	$1.44	45d	1	1.07mi
2806 Winchester Dr Sellersburg, IN	4.0	2.0	2390	$2,365	$0.99	3d	1	1.34mi

HOA detail

• Monthly dues: $560 · $6,720/yr

Listing history 15 events

1. 2026-06-21
   days on market $115,000 Active 199 DOM
2. 2026-06-18
   days on market $115,000 Active 196 DOM
3. 2026-06-17
   days on market $115,000 Active 195 DOM
4. 2026-06-16
   days on market $115,000 Active 194 DOM
5. 2026-06-15
   days on market $115,000 Active 193 DOM
6. 2026-06-13
   days on market $115,000 Active 191 DOM
7. 2026-06-10
   days on market $115,000 Active 188 DOM
8. 2026-06-09
   days on market $115,000 Active 187 DOM
9. 2026-06-08
   days on market $115,000 Active 186 DOM
10. 2026-06-07
    days on market $115,000 Active 185 DOM
11. 2026-06-03
    days on market $115,000 Active 181 DOM
12. 2026-06-02
    days on market $115,000 Active 180 DOM
13. 2026-06-01
    days on market $115,000 Active 179 DOM
14. 2026-05-31
    days on market $115,000 Active 178 DOM
15. 2025-12-04
    listed $96,000 Active 58-char remark

    Show marketing remark (58 chars)

    Your Dream Home Just Hit the Market at Indian Oaks Pointe!

ⓘ 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: $24,195
• − Mortgage interest: −$6,442
• − Property taxes: −$1,725
• − Insurance: −$575
• − Repairs & maintenance: −$1,936
• − Management: −$1,936
• − HOA: −$6,720
• − Depreciation: −$3,345
• Taxable income: $1,517
• Est. tax owed @ 24.0%: −$364
• After-tax cash flow: $2,493/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 · 1 photo

Fair 45/100 Moderate rehab

This manufactured home requires moderate repairs and maintenance, with painting and window trim repair being the most immediate needs. Upgrading these areas can significantly boost its resale and rental value.

Repairs flagged

• Minor Paint — Paint appears faded in some areas
• Minor Window trim — Slight discoloration

Value-add opportunities

• Resale Painting — Fresh paint can enhance curb appeal and home value
• Resale Window trim repair — Improved appearance can attract more buyers
• Both Landscaping — Enhanced landscaping can increase both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Paint · Paint appears faded in some areas	Minor	$500–3,000
Window trim · Slight discoloration	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Resale Painting — Fresh paint can enhance curb appeal and home value ↑
• Resale Window trim repair — Improved appearance can attract more buyers ↑
• Both Landscaping — Enhanced landscaping can increase both resale and rental value ↑

ⓘ 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

Price history

1 event — show timeline

• 2025-12-04 Listed $96,000 Zillow