12416 Nabb New Washington Rd E

New Washington, IN 47147

$169,900D+

3 bd · 2.0 ba · 1,232 sqft · Built 1998 · Manufactured · Active · 56 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,193/mo
• Mortgage (P&I): −$891
• Tax + insurance: −$129
• HOA: −$0
• Vac / Maint / Mgmt: −$251
• Net cashflow: $-78/mo
• Annual: $-933/yr
• Cap rate: 5.74%
• Cash-on-cash: -1.96%
• DSCR: 0.91
• 1% rule: 0.70%
• Cash to close: $47,572

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $170k.
• At list price, monthly cash flow is $-78 ($-933/yr) — negative.
• To cash-flow at today's rent, offer at most $156k (8.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $119k (29.8% below list).
• It's been on market 56 days — a 3% lower offer ($165k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $119k (29.8% below list) — sets the bar for 1% rule.
• In year one you build about $8k of equity ($1k loan paydown + $7k appreciation (4.2% local appreciation)).
• Location reads 63/100 on livability (#420 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, schools B+; Watch: employment D+, amenities F, commute F.
• Greater Clark County Schools (suburban): math 26% / reading 37% proficiency, ranked #224 of 301 in IN (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 8 active listings in the ZIP; 911 units permitted in Clark County in 2024 (133 in 5+ unit buildings).
• Clark County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (4.2% appreciation + 3.0% rent growth), your $48k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• 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?
• It's been on market 56 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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?
• 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.
• 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.
• 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.