403 W Fillmore St · Staunton, IN 47881

$62,499

2 bd · 2.0 ba · 784 sqft · Manufactured public records · 296 Days on market

Built 1994 0.68 ac lot

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• ARV discount +7.5/15.0
• Schools +4.0/10.0
• Livability +2.9/5.0
• Appreciation +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Rural Living! Mobile is located back from the road. Also located on a dead end road/thus lack of traffic.

Key facts

• 0.68 acre lot
• Built 1994
• Listed 295 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $62k.

Deal economics

• At list price, monthly cash flow is $300 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($846 rent vs $62k).
• Recommended offer: $55k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 58/100 on livability (#597 in IN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime D+, employment D+, schools F.
• Clay Community Schools (rural): math 46% / reading 49% proficiency, ranked #79 of 301 in IN (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 7 active listings in the ZIP; 70 units permitted in Clay County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $432 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Clay County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 296 days — a 12% lower offer ($55k) is reasonable based on typical stale-listing flexibility.

Recommended offer $54,999 (12.0% below list)

Questions for the listing agent

1. It's been on market 296 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. 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.
7. 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.
8. 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: 1.35% ✓
• Cap rate: 12.05%
• Cash-on-cash: 20.56%
• DSCR: 1.91
• GRM: 6.2

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: 12.8%
• Equity multiple: 1.51×
• Total profit: $8,941
• Equity at exit: $9,319

10-year hold

• IRR: 21.7%
• Equity multiple: 2.84×
• Total profit: $32,268
• Equity at exit: $5,404

Cash invested: $17,500 (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 47881

• Home prices YoY: -2.7%
• Active inventory: 7
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $846 medium
• Mortgage (P&I): −$328
• Tax from tax record: −$15 /mo · $180/yr
• Insurance: −$26
• HOA: −$0
• Vacancy / Maint / Mgmt: −$178
• Net cashflow: $300

Break-even live

Break-even rent $467

Max offer price $62,499

Occupancy floor 60%

Sensitivity live

Price	-10% $335	-5% $317	+0% $300	+5% $282	+10% $264
Rent	-10% $233	-5% $266	+0% $300	+5% $333	+10% $367
Rate	-1.0pp $331	-0.5pp $316	base $300	+0.5pp $284	+1.0pp $267

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: $15,625
• Closing costs: $1,875
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $62,499 Active 296 DOM
2. 2026-06-18
   days on market $62,499 Active 295 DOM
3. 2026-06-17
   days on market $62,499 Active 294 DOM
4. 2026-06-16
   days on market $62,499 Active 293 DOM
5. 2026-06-15
   days on market $62,499 Active 292 DOM
6. 2026-06-14
   days on market $62,499 Active 290 DOM
7. 2026-06-13
   days on market $62,499 Active 289 DOM
8. 2026-06-10
   days on market $62,499 Active 287 DOM
9. 2026-06-09
   days on market $62,499 Active 286 DOM
10. 2026-06-08
    days on market $62,499 Active 285 DOM
11. 2026-06-07
    days on market $62,499 Active 284 DOM
12. 2026-06-05
    days on market $62,499 Active 281 DOM
13. 2026-06-02
    days on market $62,499 Active 279 DOM
14. 2026-06-01
    days on market $62,499 Active 278 DOM
15. 2026-05-31
    days on market $62,499 Active 277 DOM
16. 2026-05-30
    days on market $62,499 Active 276 DOM
17. 2026-01-20
    price $62,499 105-char remark

    Show marketing remark (105 chars)

    Rural Living! Mobile is located back from the road. Also located on a dead end road/thus lack of traffic.

18. 2025-12-28
    price $59,850 105-char remark

    Show marketing remark (105 chars)

    Rural Living! Mobile is located back from the road. Also located on a dead end road/thus lack of traffic.

19. 2025-08-27
    listed $63,000 Active 105-char remark

    Show marketing remark (105 chars)

    Rural Living! Mobile is located back from the road. Also located on a dead end road/thus lack of traffic.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast IN · Partial reset (capped growth)

• Current annual tax: $180 · $15/mo
• Projected year-2 tax: $356 · $30/mo
• Expected delta: +$176/yr (+$15/mo · 97.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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 ≥104°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 5 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,156
• − Mortgage interest: −$3,501
• − Property taxes: −$180
• − Insurance: −$312
• − Repairs & maintenance: −$812
• − Management: −$812
• − Depreciation: −$1,818
• Taxable income: $2,719
• Est. tax owed @ 24.0%: −$653
• After-tax cash flow: $2,945/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: Clay Community Schools
• NCES district ID: 1800840
• Math proficiency: 46% ▼ -6.00%
• Reading proficiency: 49% ▼ -1.00%
• Median HH income: $46,673
• Composite: 40.39/100
• National rank: #3733
• State rank: #79 of 301 in IN

Livability — Staunton

• Score: 58/100
• State rank: #597
• US rank: #21392

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Staunton, IN
• City population: 253
• Population (ZIP): 253

Population outlook (Clay County) Hauer SSP2

• Today (2025): 25,820 people
• By 2030: 25,182 · -2.5%
• By 2040: 23,562 · -8.7%
• By 2050: 21,829 · -15.5%
• By 2075: 17,939 · -30.5%
• By 2100: 14,042 · -45.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (99%)
• Race & ethnicity: White 99%
• Common ancestry: Slovak 11% Italian 4% Scottish 4%
• Foreign-born: 1% · Canada, Dominican Republic
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Clay

• 2024 margin: Solid R (+56.9) · D 20.7% · R 77.6% · Other 1.7%
• 2008→2024 swing: -45.4pp toward R · 2008: -11.5pp · 2024: -56.9pp
• All cycles: 2024: R+56.9 2020: R+56.6 2016: R+55.3 2012: R+31.4 2008: R+11.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -5.00%
• Current HPI: 179.9156
• 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

-0.8% since first listed

3 events — show timeline

• 2026-01-20 Price Changed $62,499 IRMLS
• 2025-12-28 Price Changed $59,850 IRMLS
• 2025-08-27 Listed $63,000 IRMLS

Property tax history

-2.5%/yr

Latest (2024): $180 · -15.5% YoY. Source: county tax records.