201 Cypress Ct · Marion, IN 46953

$155,000

2 bd · 2.0 ba · 1,404 sqft · Manufactured public records · 20 Days on market

Built 2000 0.45 ac lot

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Why this score? — see what drove the F 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 +9.7/30.0
• ARV discount +7.5/15.0
• Schools +3.8/10.0
• Livability +3.2/5.0
• DSCR +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 3 bedroom two bath home sits in a quiet rural neighborhood just minutes from I69. This home features an open floor plan, attached 2 car garage, master suite with garden tub, island in the kitchen, and city utilities.

Key facts

• 0.45 acre lot
• 2 garage spots
• Built 2000

Property features AI

Finance

• Other: Lot dimensions approximately 123 x 160 (0.452 acre); Located in the Meadows East subdivision
• Financial info: No investor or income/expense details provided
• HOA & community: No association amenities

Exterior

• Parking: Attached garage with 2 spaces; Garage with concrete driveway and garage door opener; Off-street parking
• Security: Smoke detectors
• Utilities: Public water; Public sewer; Electric service
• Home design: Single-story manufactured home; Entry facing information not provided
• Construction: Vinyl siding; Asphalt roof; Block foundation; Built as a manufactured home
• Exterior features: Chain link fencing; Shed on the property; Cul-de-sac lot in a wooded setting; Paved public road access

Interior

• Kitchen: Dishwasher; Refrigerator; Exhaust fan; Electric oven; Electric range
• Bedrooms: Total of 6 rooms (bedrooms included)
• Flooring: Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heat pump; Central air conditioning
• Interior features: Kitchen island; One fireplace
• Laundry & utility: Main-level laundry with electric dryer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $155k.

Deal economics

• At list price, monthly cash flow is $-102 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $137k (11.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $108k (30.2% below list).
• Recommended offer: $108k (30.2% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 8.2% in Marion — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 65/100 on livability (#337 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Eastbrook Community School Corporation (rural): math 42% / reading 46% proficiency, ranked #98 of 301 in IN (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Eastbrook North Elementary (math 43% / reading 34%, grade F, #535 of 994 statewide, top 54%, 307 students, 52% FRL); Eastbrook Middle School (math 30% / reading 45%, grade F, #146 of 330 statewide, top 46%, 399 students, 48% FRL); Eastbrook High School (math 52% / reading 72%, grade B-, #41 of 369 statewide, top 12%, 509 students, 38% FRL).
• Market conditions: 114 active listings in the ZIP; 52 units permitted in Grant County in 2024 (8 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Grant County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($153k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y ago; this cycle's ask is 72% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $85k; list at $155k implies a 82% gain — meaningful room to come down on a strong offer.

Recommended offer $108,242 (30.2% below list)

Questions for the listing agent

1. 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?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.70% ✗
• Cap rate: 5.51%
• Cash-on-cash: -2.81%
• DSCR: 0.87
• GRM: 11.9

CMA / ARV

• ARV (on-the-fly): $47,736
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
156 Meadows East Pkwy	0.08mi	3/2.0 (+1)	1,456 (+4%)	10mo	$50,000	$34	77

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: -21.0%
• Equity multiple: 0.27×
• Total profit: $-31,646
• Equity at exit: $23,111

10-year hold

• IRR: -14.6%
• Equity multiple: 0.17×
• Total profit: $-36,114
• Equity at exit: $13,402

Cash invested: $43,400 (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 46953

• Home prices YoY: -23.4%
• Active inventory: 114
• Price-to-rent: 11.9×

Monthly cashflow live

• Estimated rent: $1,082 medium
• Mortgage (P&I): −$813
• Tax from tax record: −$79 /mo · $952/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$227
• Net cashflow: $-102

Break-even live

Break-even rent $1,211

Max offer price $137,040

Occupancy floor —

Sensitivity live

Price	-10% $-14	-5% $-58	+0% $-102	+5% $-146	+10% $-189
Rent	-10% $-187	-5% $-144	+0% $-102	+5% $-59	+10% $-16
Rate	-1.0pp $-24	-0.5pp $-62	base $-102	+0.5pp $-142	+1.0pp $-183

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $155,000 Active 20 DOM
2. 2026-06-19
   days on market $155,000 Active 18 DOM
3. 2026-06-18
   days on market $155,000 Active 17 DOM
4. 2026-06-17
   days on market $155,000 Active 16 DOM
5. 2026-06-16
   days on market $155,000 Active 15 DOM
6. 2026-06-15
   days on market $155,000 Active 14 DOM
7. 2026-06-14
   days on market $155,000 Active 12 DOM
8. 2026-06-12
   days on market $155,000 Active 11 DOM
9. 2026-06-09
   days on market $155,000 Active 8 DOM
10. 2026-06-08
    days on market $155,000 Active 7 DOM
11. 2026-06-07
    days on market $155,000 Active 6 DOM
12. 2026-06-05
    days on market $155,000 Active 3 DOM
13. 2026-06-03
    days on market $155,000 Active 2 DOM
14. 2026-06-01
    statusdays on market $155,000 Active 1 DOM
15. 2026-05-31
    days on market $155,000 Coming Soon 5 DOM
16. 2026-05-30
    days on market $155,000 Coming Soon 4 DOM
17. 2026-05-26
    historical $155,000
18. 2019-11-27
    soldstatus $85,000 222-char remark

    Show marketing remark (222 chars)

    This 3 bedroom two bath home sits in a quiet rural neighborhood just minutes from I69. This home features an open floor plan, attached 2 car garage, master suite with garden tub, island in the kitchen, and city utilities.

19. 2019-08-16
    listed $89,900 222-char remark

    Show marketing remark (222 chars)

    This 3 bedroom two bath home sits in a quiet rural neighborhood just minutes from I69. This home features an open floor plan, attached 2 car garage, master suite with garden tub, island in the kitchen, and city utilities.

20. 2018-06-05
    listed $80,000
21. 2017-10-24
    soldstatus $85,000
22. 2017-07-27
    listed $85,000

ⓘ 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: $952 · $79/mo
• Projected year-2 tax: $1,135 · $95/mo
• Expected delta: +$183/yr (+$15/mo · 19.2%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,989
• − Mortgage interest: −$8,682
• − Property taxes: −$952
• − Insurance: −$775
• − Repairs & maintenance: −$1,039
• − Management: −$1,039
• − Depreciation: −$4,509
• Taxable loss: −$4,008
• Est. tax savings @ 24.0%: +$962
• After-tax cash flow: $-258/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: Eastbrook Community School Corporation
• NCES district ID: 1803030
• Math proficiency: 42% ▬ 0.00%
• Reading proficiency: 46% ▼ -1.00%
• Median HH income: $55,030
• Composite: 38.28/100
• National rank: #4234
• State rank: #98 of 301 in IN

Livability — Marion

• Score: 65/100
• State rank: #337
• US rank: #13006

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Marion, IN
• County: Grant County · 41,561 people
• City population: 41,561
• Metro: Marion, IN
• Population (ZIP): 23,372
• Household income: $46,288
• Rent vs Own: 32.2% rent · 67.8% own
• Severe rent burden: 597.0

Population outlook (Grant County) Hauer SSP2

• Today (2025): 64,394 people
• By 2030: 62,145 · -3.5%
• By 2040: 57,252 · -11.1%
• By 2050: 52,968 · -17.7%
• By 2075: 45,986 · -28.6%
• By 2100: 39,400 · -38.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Black 10% Two or more races 9% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 3% Iranian 1% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Grant

• 2024 margin: Solid R (+41.8) · D 28.2% · R 70.0% · Other 1.9%
• 2008→2024 swing: -28.7pp toward R · 2008: -13.1pp · 2024: -41.8pp
• All cycles: 2024: R+41.8 2020: R+38.8 2016: R+39.5 2012: R+22.0 2008: R+13.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -52.47%
• Current HPI: 171.7246
• Rent YoY: —
• Metro: Marion, 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

+82.4% since first listed

6 events — show timeline

• 2026-05-26 Coming Soon $155,000 IRMLS
• 2019-11-27 Sold (MLS) $85,000 IRMLS
• 2019-08-16 Listed $89,900 IRMLS
• 2018-06-05 Listed $80,000 IRMLS
• 2017-10-24 Sold (MLS) $85,000 IRMLS
• 2017-07-27 Listed $85,000 IRMLS

Property tax history

+4.4%/yr

Latest (2025): $952 · -18.2% YoY. Source: county tax records.