15 Lane 420 Jimmerson Lk · Jimmerson Lake, IN 46737

$135,000

3 bd · 2.0 ba · 1,064 sqft · Manufactured public records · 53 Days on market

Built 1996 0.37 ac lot $127/sqft · 37% below area Est $215k · 37% under $21/mo HOA · 2% of rent ↓ 34% 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 +15.8/30.0
• ARV discount +15.0/15.0
• DSCR +4.9/10.0
• 1% rule +4.5/10.0
• Schools +3.9/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

BUILD ON TWO LOTS OR WAIT TILL YOUR READY!! Up in Lake Views & Boat Slip. Here is a great inexpensive way to access the Lake James Chain. The outdoor living at this home is simply amazing! A spacious lot perfect for entertaining & has stellar views of Jimmerson Lake. Inside you will find an open concept home, great for entertaining! There are so many possibilities with this extra large lot. Sale includes 4 lots. The kitchen has plenty of built-ins for storage. Newer water heater and furnace. Buena Vista is a golf cart friendly neighborhood that make navigating to park and beach easy. There are 2 bedrooms & 2 full baths. The Master bedroom has a walk in closet and

Key facts

• Lake views
• Open concept
• Spacious lot

Tags

• LAKE VIEWS
• BOAT SLIP
• OUTDOOR LIVING
• SPACIOUS LOT
• OPEN CONCEPT
• EXTRA LARGE LOT

Property features AI

Finance

• Other: Subdivision: Buena Vista
• Financial info:
• HOA & community: Homeowners association with annual fee (approximately $250/year); Community playground

Exterior

• Parking: Off-street parking; Gravel parking area
• Security:
• Utilities: Private well water; No public sewer
• Home design: Manufactured home (residential);
• Construction: Vinyl siding
• Exterior features: Corner lot; Located on Jimmerson Lake; Lot dimensions approximately 90 x 180

Interior

• Kitchen:
• Bedrooms:
• Flooring: Laminate flooring; Vinyl flooring
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Natural gas heating; No central cooling
• Interior features: Fireplace (1); Basement with exterior entry; Main-level laundry
• Laundry & utility: Laundry on the main level; Water heater (energy-efficient feature)

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 $61 ($727/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $128k (4.9% below list).
• Recommended offer: $128k (4.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Fremont Community Schools (rural): math 42% / reading 48% proficiency, ranked #94 of 301 in IN (top 31%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Fremont Elementary School (math 47% / reading 42%, grade F, #379 of 994 statewide, top 41%, 395 students, 47% FRL); Fremont Middle School (math 35% / reading 41%, grade F, #136 of 330 statewide, top 44%, 298 students, 46% FRL); Fremont High School (math 57% / reading 87%, grade B+, #12 of 369 statewide, top 4%, 292 students, 34% FRL).
• Market conditions: 61 active listings in the ZIP; 209 units permitted in Steuben County in 2024 (72 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Steuben County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $20k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $128,425 (4.9% below list)

Questions for the listing agent

1. It's been on market 53 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.95% ✗
• Cap rate: 6.83%
• Cash-on-cash: 1.92%
• DSCR: 1.09
• GRM: 8.8

CMA / ARV

• ARV (median comp): $215,000
• List price: $135,000
• Delta: -37.21%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
215 Lane 360 Jimmerson Lk	0.38mi	2/2.0 (-1)	1,188 (+12%)	1mo	$229,900	$194	57
255 Ln 591 Lake James Ln	0.69mi	3/2.0	1,152 (+8%)	3mo	$285,000	$247	52
115 355 Ln	0.44mi	2/1.5 (-1)	1,152 (+8%)	9mo	$45,000	$39	52
220 Lane 360 Jimmerson Lk	0.40mi	2/2.0 (-1)	924 (-13%)	11mo	$119,000	$129	45

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: -13.2%
• Equity multiple: 0.52×
• Total profit: $-17,984
• Equity at exit: $20,129

10-year hold

• IRR: -4.2%
• Equity multiple: 0.72×
• Total profit: $-10,559
• Equity at exit: $11,672

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 46737

• Home prices YoY: -34.7%
• Active inventory: 61
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,284 medium
• Mortgage (P&I): −$708
• Tax est. 1.5%: −$169 /mo · $2,025/yr
• Insurance: −$56
• HOA: −$21
• Vacancy / Maint / Mgmt: −$270
• Net cashflow: $61

Break-even live

Break-even rent $1,208

Max offer price $135,000

Occupancy floor 90%

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: —

HOA detail

• Monthly dues: $21 · $252/yr
• Likely covers: water

Listing history 19 events

1. 2026-06-17
   status $135,000 Pending 53 DOM
2. 2026-06-16
   days on market $135,000 Active 53 DOM
3. 2026-06-15
   days on market $135,000 Active 52 DOM
4. 2026-06-14
   days on market $135,000 Active 50 DOM
5. 2026-06-12
   days on market $135,000 Active 49 DOM
6. 2026-06-09
   days on market $135,000 Active 46 DOM
7. 2026-06-08
   pricedays on market $135,000 Active 45 DOM
8. 2026-06-07
   days on market $145,000 Active 44 DOM
9. 2026-06-07
   days on market $145,000 Active 43 DOM
10. 2026-06-04
    days on market $145,000 Active 40 DOM
11. 2026-06-02
    days on market $145,000 Active 39 DOM
12. 2026-06-01
    days on market $145,000 Active 38 DOM
13. 2026-05-31
    days on market $145,000 Active 37 DOM
14. 2026-05-31
    days on market $145,000 Active 36 DOM
15. 2026-04-24
    listed $155,000 Active 824-char remark
16. 2025-10-19
    price $160,000
17. 2025-09-20
    price $175,000
18. 2025-07-20
    price $190,000
19. 2025-07-04
    listed $205,000 Active

ⓘ 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 2/10 Low 7 d/yr ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,411
• − Mortgage interest: −$7,562
• − Property taxes: −$2,025
• − Insurance: −$675
• − Repairs & maintenance: −$1,233
• − Management: −$1,233
• − HOA: −$252
• − Depreciation: −$3,927
• Taxable loss: −$1,496
• Est. tax savings @ 24.0%: +$359
• After-tax cash flow: $1,086/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: Fremont Community Schools
• NCES district ID: 1803780
• Math proficiency: 42% ▼ -12.00%
• Reading proficiency: 48% ▼ -5.00%
• Median HH income: $54,625
• Composite: 39.06/100
• National rank: #4055
• State rank: #94 of 301 in IN

Livability — Jimmerson Lake

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Jimmerson Lake, IN
• Population (ZIP): 7,076

Population outlook (Steuben County) Hauer SSP2

• Today (2025): 34,334 people
• By 2030: 33,801 · -1.6%
• By 2040: 32,076 · -6.6%
• By 2050: 30,022 · -12.6%
• By 2075: 25,626 · -25.4%
• By 2100: 21,257 · -38.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Romanian 4% Slovak 3% Lithuanian 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Steuben

• 2024 margin: Solid R (+42.1) · D 28.1% · R 70.2% · Other 1.6%
• 2008→2024 swing: -32.3pp toward R · 2008: -9.8pp · 2024: -42.1pp
• All cycles: 2024: R+42.1 2020: R+42.2 2016: R+44.0 2012: R+27.0 2008: R+9.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -115.57%
• Current HPI: 217.7195
• 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

-34.1% since first listed

8 events — show timeline

• 2026-06-16 Pending — IRMLS
• 2026-06-08 Price Changed $135,000 IRMLS
• 2026-05-23 Price Changed $145,000 IRMLS
• 2026-04-24 Listed $155,000 IRMLS
• 2025-10-19 Price Changed $160,000 IRMLS
• 2025-09-20 Price Changed $175,000 IRMLS
• 2025-07-20 Price Changed $190,000 IRMLS
• 2025-07-04 Listed $205,000 IRMLS

Property tax history

+5.3%/yr

Latest (2024): $118 · +7.4% YoY. Source: county tax records.