Fairmont 713 Parke Place Plan · Elkhart, IN 46514

$128,400

3 bd · 2.0 ba · 1,323 sqft · Manufactured · 170 Days on market

Manufactured home Fair condition

---

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).

• ARV discount +7.5/15.0
• Cash flow +6.0/30.0
• Rent growth +4.3/5.0
• Livability +3.4/5.0
• Appreciation +2.5/10.0
• Schools +2.5/10.0
• Condition / age +2.2/5.0
• 1% rule +1.3/10.0
• DSCR +0.4/10.0
• Manufactured-home adj. -2.4

Listing remarks

Experience the perfect blend of style and durability in this stunning 2025 Fairmont Home. Featuring full drywall throughout for a premium, site-built feel, this 3-bedroom, 2-bathroom residence offers an elegant open-concept layout flooded with natural light. The heart of the home is a sleek kitchen equipped with stainless steel appliances and a sliding glass door that leads directly to a charming covered half porch, perfect for indoor-outdoor living. The primary suite serves as a true sanctuary, boasting a generous walk-in closet and a modern walk-in shower.

Key facts

• Listed 169 days

🏗️ New construction. The $128,400 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $176,829.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $128k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-336 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $128k (0.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $112k (12.6% below list).
• Recommended offer: $112k (12.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 68/100 on livability (#224 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, crime F, commute F.
• Elkhart Community Schools (urban): math 18% / reading 25% proficiency, ranked #271 of 301 in IN (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Osolo Elementary School (math 20% / reading 18%, grade F, #829 of 994 statewide, top 84%, 490 students, 76% FRL); North Side Middle School (math 15% / reading 31%, grade F, #263 of 330 statewide, top 80%, 627 students, 72% FRL).
• Market conditions: Rents rising fast (+7.0%/yr); 507 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 117d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 71% of comp listings sitting > 30 days — soft ceiling on asking rent; 484 units permitted in Elkhart County in 2024 (136 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.
• Elkhart County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 170 days — a 12% lower offer ($113k) is reasonable based on typical stale-listing flexibility.

Recommended offer $112,185 (12.6% 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. It's been on market 170 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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 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?
7. Crime grade is F 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.63% ✗
• Cap rate: 4.01%
• Cash-on-cash: -8.14%
• DSCR: 0.64
• GRM: 13.1

CMA / ARV

• ARV (median comp): $176,829
• List price: $128,400
• Delta: -27.39%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2020 Woodland Estates Dr	0.33mi	3/2.0	1,546 (+17%)	3mo	$326,000	$211	57
1232 Cone St	1.38mi	3/1.0	1,296 (-2%)	3mo	$201,000	$155	55
1077 Greenleaf Blvd	1.50mi	2/2.0 (-1)	1,291 (-2%)	2mo	$190,000	$147	54
1077 Greenleaf Blvd #114	1.50mi	2/2.0 (-1)	1,291 (-2%)	2mo	$180,000	$139	54
1605 Erwin St	1.01mi	3/2.0	1,470 (+11%)	4mo	$239,000	$163	44
1430 Mcpherson St	0.99mi	3/2.0	1,158 (-12%)	3mo	$165,000	$142	42
903 Mcpherson St	1.43mi	3/2.0	1,488 (+12%)	3mo	$215,000	$144	42
2919 Calumet Ave	1.37mi	2/1.0 (-1)	1,208 (-9%)	2mo	$213,000	$176	40
53598 Hickory Ln	1.33mi	3/2.0	1,642 (+24%)	0mo	$320,000	$195	40
2021 Autumn Ridge Ln	0.54mi	2/1.0 (-1)	1,098 (-17%)	3mo	$199,000	$181	38
1400 Grant St	1.08mi	3/1.0	1,506 (+14%)	2mo	$203,000	$135	37
1843 Grant St	0.95mi	3/1.0	1,079 (-18%)	1mo	$200,000	$185	35

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 · 7.03% rent growth · sell at horizon

5-year hold

• IRR: -26.3%
• Equity multiple: 0.09×
• Total profit: $-45,288
• Equity at exit: $26,366

10-year hold

• IRR: -13.7%
• Equity multiple: 0.08×
• Total profit: $-45,796
• Equity at exit: $15,289

Cash invested: $49,512 (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 →

Active competition Active MLS

• For sale now: 56 active
• Median asking: $129,150 ($92/sqft)
• Median days on market: 62 d
• This list price: 48% of active listings are priced below it
• ARV vs active asking: +46.0% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 46514

• Rents YoY: 7.0%
• Active inventory: 507
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,122 high
• Mortgage (P&I): −$927
• Tax est. 1.5%: −$221 /mo · $2,652/yr
• Insurance: −$74
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$236
• Net cashflow: $-336

Break-even live

Break-even rent $1,547

Max offer price $128,245

Occupancy floor —

Sensitivity live

Price	-10% $-214	-5% $-275	+0% $-336	+5% $-397	+10% $-458
Rent	-10% $-424	-5% $-380	+0% $-336	+5% $-291	+10% $-247
Rate	-1.0pp $-247	-0.5pp $-291	base $-336	+0.5pp $-382	+1.0pp $-428

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: $44,207
• Closing costs: $5,305
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1875 Osolo Rd Elkhart, IN	1.0–3.0	1.0–2.0	948	$1,000	$1.05	116d	1	0.29mi
2001 Sugar Maple Ln Elkhart, IN	1.0–2.0	1.0–2.0	923	$1,445	$1.56	0d	39	0.36mi
2002 Raintree Dr Elkhart, IN	2.0	1.5	1034	$1,479	$1.43	116d	2	0.62mi
2002 Raintree Dr Unit 2103-1 Elkhart, IN	2.0	1.5	1034	$1,609	$1.56	6d	1	0.63mi
2304 Grant St Elkhart, IN	4.0	2.0	1450	$1,800	$1.24	139d	1	1.02mi
1120 Worthmore Ave Elkhart, IN	2.0	1.0	987	$1,700	$1.72	116d	1	1.26mi
1301 Cone St Elkhart, IN	2.0	1.0	888	$1,100	$1.24	139d	1	1.35mi

Property features AI

Finance

• Financial info: List price $144,750

Exterior

• Utilities: Natural gasCentral air conditioning
• Home design: Plan: Fairmont 713 Parke PlaceNew construction plan
• Construction: Living area approximately 1323Shake roofing material
• Exterior features: Shake roof

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heatingCentral air conditioning
• Interior features: Open living area

Listing history 50 events

1. 2026-09-24
   days on market $128,400 Active 170 DOM
2. 2026-09-24
   days on market $128,400 Active 169 DOM
3. 2026-09-22
   days on market $128,400 Active 168 DOM
4. 2026-09-20
   days on market $128,400 Active 166 DOM
5. 2026-09-18
   days on market $128,400 Active 164 DOM
6. 2026-09-17
   days on market $128,400 Active 163 DOM
7. 2026-09-16
   days on market $128,400 Active 162 DOM
8. 2026-09-15
   days on market $128,400 Active 161 DOM
9. 2026-09-14
   days on market $128,400 Active 160 DOM
10. 2026-09-13
    days on market $128,400 Active 159 DOM
11. 2026-09-12
    days on market $128,400 Active 158 DOM
12. 2026-09-11
    days on market $128,400 Active 157 DOM
13. 2026-09-05
    days on market $128,400 Active 151 DOM
14. 2026-09-04
    days on market $128,400 Active 150 DOM
15. 2026-09-03
    days on market $128,400 Active 149 DOM
16. 2026-08-31
    days on market $128,400 Active 146 DOM
17. 2026-08-30
    days on market $128,400 Active 145 DOM
18. 2026-08-29
    days on market $128,400 Active 144 DOM
19. 2026-08-28
    days on market $128,400 Active 143 DOM
20. 2026-08-27
    days on market $128,400 Active 142 DOM
21. 2026-08-25
    days on market $128,400 Active 140 DOM
22. 2026-08-24
    days on market $128,400 Active 139 DOM
23. 2026-08-23
    days on market $128,400 Active 138 DOM
24. 2026-08-22
    days on market $128,400 Active 137 DOM
25. 2026-08-21
    days on market $128,400 Active 136 DOM
26. 2026-08-20
    price $128,400 Active 135 DOM
27. 2026-08-20
    days on market $144,750 Active 135 DOM
28. 2026-08-19
    days on market $144,750 Active 134 DOM
29. 2026-08-18
    days on market $144,750 Active 133 DOM
30. 2026-08-17
    days on market $144,750 Active 132 DOM
31. 2026-08-16
    days on market $144,750 Active 131 DOM
32. 2026-08-15
    days on market $144,750 Active 130 DOM
33. 2026-08-15
    days on market $144,750 Active 129 DOM
34. 2026-08-13
    days on market $144,750 Active 128 DOM
35. 2026-08-12
    days on market $144,750 Active 127 DOM
36. 2026-08-11
    days on market $144,750 Active 126 DOM
37. 2026-08-10
    days on market $144,750 Active 125 DOM
38. 2026-08-09
    days on market $144,750 Active 124 DOM
39. 2026-08-08
    days on market $144,750 Active 123 DOM
40. 2026-08-07
    days on market $144,750 Active 122 DOM
41. 2026-08-06
    days on market $144,750 Active 121 DOM
42. 2026-08-05
    days on market $144,750 Active 120 DOM
43. 2026-08-04
    days on market $144,750 Active 119 DOM
44. 2026-08-03
    days on market $144,750 Active 118 DOM
45. 2026-07-31
    days on market $144,750 Active 115 DOM
46. 2026-07-30
    days on market $144,750 Active 114 DOM
47. 2026-07-29
    days on market $144,750 Active 113 DOM
48. 2026-07-27
    days on market $144,750 Active 111 DOM
49. 2026-07-25
    days on market $144,750 Active 109 DOM
50. 2026-07-23
    days on market $144,750 Active 107 DOM

ⓘ 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: $13,462
• − Mortgage interest: −$9,905
• − Property taxes: −$2,652
• − Insurance: −$884
• − Repairs & maintenance: −$1,077
• − Management: −$1,077
• − Depreciation: −$5,144
• Taxable loss: −$7,277
• Est. tax savings @ 24.0%: +$1,747
• After-tax cash flow: $-2,282/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 Cosmetic rehab Est. rehab $6,615–$19,845 screening

This Fairmont model is in fair condition with minor repairs needed, particularly to the porch door. Painting the exterior and cleaning gutters would significantly enhance its curb appeal and value.

Repairs flagged

• Minor Porch door — Visible wear on the door frame.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value. ↑
• Both Clean gutters — Improves drainage and aesthetics. ↑
• Both Replace porch door — Fixes minor damage and improves functionality. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 25/100

Zoned Schools

Elementary Osolo Elementary School F IN #829/994 Nat'l #34,564/41,679 Middle North Side Middle School F IN #263/330 Nat'l #11,007/14,009 High Elkhart High School F IN #285/369 Nat'l #10,121/17,239

Schools (NCES district)

• District: Elkhart Community Schools
• NCES district ID: 1803270
• Math proficiency: 18% ▼ -12.00%
• Reading proficiency: 25% ▼ -9.00%
• Median HH income: $42,881
• Composite: 18.45/100
• National rank: #8928
• State rank: #271 of 301 in IN

C Composite livability gradescore 68/100

Livability — Elkhart

• Score: 68/100
• State rank: #224
• US rank: #9852

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elkhart, IN
• County: Elkhart County · 213,761 people
• City population: 74,260
• Metro: Elkhart-Goshen, IN
• Population (ZIP): 42,389
• Household income: $65,833
• Rent vs Own: 28.0% rent · 72.0% own
• Severe rent burden: 8% of renters

---

Population outlook (Elkhart County) Hauer SSP2

• Today (2025): 213,761 people
• By 2030: 218,103 · +2.0%
• By 2040: 225,381 · +5.4%
• By 2050: 229,447 · +7.3%
• By 2075: 232,856 · +8.9%
• By 2100: 214,088 · +0.2%

---

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 14% Two or more races 6% Black 5% Asian 1%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Lithuanian 2% Romanian 2% Italian 2%
• Foreign-born: 8% · Canada
• Languages at home: 89% English-only · Spanish 10%

---

Political lean MEDSL · Elkhart

• 2024 margin: Solid R (+32.4) · D 33.1% · R 65.5% · Other 1.4%
• 2008→2024 swing: -21.2pp toward R · 2008: -11.2pp · 2024: -32.4pp
• All cycles: 2024: R+32.4 2020: R+28.1 2016: R+32.4 2012: R+26.5 2008: R+11.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -246.78%
• Current HPI: 225.6
• Rent YoY: ▲ 7.03%
• Metro: Elkhart-Goshen, 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

Property features AI

Finance

• Financial info: List price $144,750

Exterior

• Utilities: Natural gasCentral air conditioning
• Home design: Plan: Fairmont 713 Parke PlaceNew construction plan
• Construction: Living area approximately 1323Shake roofing material
• Exterior features: Shake roof

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heatingCentral air conditioning
• Interior features: Open living area