306 S Chestnut St · Earl Park, IN 47942

$195,000

3 bd · 2.0 ba · 1,344 sqft · Manufactured public records · 298 Days on market

Built 1983 0.36 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).

• Appreciation +8.6/10.0
• ARV discount +7.5/15.0
• Cash flow +5.6/30.0
• Schools +3.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.6/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Fully renovated and move-in ready, this beautiful 3-bedroom, 2-bath home sits on a spacious 0.3-acre lot and offers a perfect modern layout and all the upgrades. Inside, you'll find all-new plumbing and electrical, luxury vinyl plank flooring, and a thoughtfully designed layout that provides both primary ensuite privacy and open floor plan functionality. The kitchen features sleek stainless steel appliances, ideal for cooking and entertaining. The primary bedroom includes a private ensuite, offering a quiet retreat at the end of the day. Both the front and back doors have been upgraded to high-quality fiberglass, adding style, durability, and energy efficiency. A durable metal roof adds long-term value and low maintenance, while the on-demand hot water heater ensures you'll never run out of hot water. The oversized detached two-car garage provides ample space for vehicles, storage, or a workshop. This home combines quality finishes with practical upgrades--ready for you to move in and enjoy.

Key facts

• Fully renovated
• New plumbing
• New electrical

Tags

• FULLY RENOVATED
• MOVE IN READY
• NEW PLUMBING
• NEW ELECTRICAL
• LUXURY VINYL PLANK FLOORING
• STAINLESS STEEL APPLIANCES

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $195k.

Deal economics

• At list price, monthly cash flow is $-405 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $123k (36.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $110k (43.7% below list).
• Recommended offer: $110k (43.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 64/100 on livability (#392 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Benton Community School Corporation (rural): math 38% / reading 43% proficiency, ranked #134 of 301 in IN (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Prairie Crossing Elementary School (math 46% / reading 37%, grade F, #478 of 994 statewide, top 49%, 561 students, 65% FRL); Benton Central Jr-Sr High School (math 31% / reading 53%, grade F, #197 of 369 statewide, top 57%, 790 students, 48% FRL) — zoned schools average 57% FRL vs 38% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 8 active listings in the ZIP.

Forward outlook

• In year one you build about $15k of equity ($1k loan paydown + $14k appreciation (7.1% local appreciation)).
• Benton County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 3, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 298 days — a 12% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $24k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $55k; list at $195k implies a 255% gain — meaningful room to come down on a strong offer.

Recommended offer $109,747 (43.7% 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 298 days. Have you received any prior offers? Is the seller open to a 44% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.56% ✗
• Cap rate: 3.80%
• Cash-on-cash: -8.91%
• DSCR: 0.60
• GRM: 14.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

7.11% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 11.1%
• Equity multiple: 1.80×
• Total profit: $43,516
• Equity at exit: $136,482

10-year hold

• IRR: 11.9%
• Equity multiple: 3.67×
• Total profit: $145,620
• Equity at exit: $260,488

Cash invested: $54,600 (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 47942

• Home prices YoY: 2.4%
• Active inventory: 8
• Price-to-rent: 14.8×

Monthly cashflow live

• Estimated rent: $1,097 medium
• Mortgage (P&I): −$1,023
• Tax from tax record: −$169 /mo · $2,022/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$230
• Net cashflow: $-405

Break-even live

Break-even rent $1,611

Max offer price $123,388

Occupancy floor —

Sensitivity live

Price	-10% $-295	-5% $-350	+0% $-405	+5% $-461	+10% $-516
Rent	-10% $-492	-5% $-449	+0% $-405	+5% $-362	+10% $-319
Rate	-1.0pp $-307	-0.5pp $-356	base $-405	+0.5pp $-456	+1.0pp $-507

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-22
   days on market $195,000 Active 298 DOM
2. 2026-06-19
   days on market $195,000 Active 296 DOM
3. 2026-06-18
   days on market $195,000 Active 295 DOM
4. 2026-06-17
   days on market $195,000 Active 294 DOM
5. 2026-06-16
   days on market $195,000 Active 293 DOM
6. 2026-06-15
   days on market $195,000 Active 292 DOM
7. 2026-06-14
   days on market $195,000 Active 290 DOM
8. 2026-06-13
   days on market $195,000 Active 289 DOM
9. 2026-06-10
   days on market $195,000 Active 287 DOM
10. 2026-06-09
    days on market $195,000 Active 286 DOM
11. 2026-06-08
    days on market $195,000 Active 285 DOM
12. 2026-06-07
    days on market $195,000 Active 284 DOM
13. 2026-06-02
    days on market $195,000 Active 279 DOM
14. 2026-06-01
    days on market $195,000 Active 278 DOM
15. 2026-05-31
    days on market $195,000 Active 277 DOM
16. 2026-05-30
    days on market $195,000 Active 276 DOM
17. 2026-02-26
    price $195,000 1007-char remark

    Show marketing remark (1007 chars)

    Fully renovated and move-in ready, this beautiful 3-bedroom, 2-bath home sits on a spacious 0.3-acre lot and offers a perfect modern layout and all the upgrades. Inside, you'll find all-new plumbing and electrical, luxury vinyl plank flooring, and a thoughtfully designed layout that provides both primary ensuite privacy and open floor plan functionality. The kitchen features sleek stainless steel appliances, ideal for cooking and entertaining. The primary bedroom includes a private ensuite, offering a quiet retreat at the end of the day. Both the front and back doors have been upgraded to high-quality fiberglass, adding style, durability, and energy efficiency. A durable metal roof adds long-term value and low maintenance, while the on-demand hot water heater ensures you'll never run out of hot water. The oversized detached two-car garage provides ample space for vehicles, storage, or a workshop. This home combines quality finishes with practical upgrades--ready for you to move in and enjoy.

18. 2025-10-09
    price $209,000 1007-char remark

    Show marketing remark (1007 chars)

    Fully renovated and move-in ready, this beautiful 3-bedroom, 2-bath home sits on a spacious 0.3-acre lot and offers a perfect modern layout and all the upgrades. Inside, you'll find all-new plumbing and electrical, luxury vinyl plank flooring, and a thoughtfully designed layout that provides both primary ensuite privacy and open floor plan functionality. The kitchen features sleek stainless steel appliances, ideal for cooking and entertaining. The primary bedroom includes a private ensuite, offering a quiet retreat at the end of the day. Both the front and back doors have been upgraded to high-quality fiberglass, adding style, durability, and energy efficiency. A durable metal roof adds long-term value and low maintenance, while the on-demand hot water heater ensures you'll never run out of hot water. The oversized detached two-car garage provides ample space for vehicles, storage, or a workshop. This home combines quality finishes with practical upgrades--ready for you to move in and enjoy.

19. 2025-08-27
    listed $219,000 Active 1007-char remark

    Show marketing remark (1007 chars)

    Fully renovated and move-in ready, this beautiful 3-bedroom, 2-bath home sits on a spacious 0.3-acre lot and offers a perfect modern layout and all the upgrades. Inside, you'll find all-new plumbing and electrical, luxury vinyl plank flooring, and a thoughtfully designed layout that provides both primary ensuite privacy and open floor plan functionality. The kitchen features sleek stainless steel appliances, ideal for cooking and entertaining. The primary bedroom includes a private ensuite, offering a quiet retreat at the end of the day. Both the front and back doors have been upgraded to high-quality fiberglass, adding style, durability, and energy efficiency. A durable metal roof adds long-term value and low maintenance, while the on-demand hot water heater ensures you'll never run out of hot water. The oversized detached two-car garage provides ample space for vehicles, storage, or a workshop. This home combines quality finishes with practical upgrades--ready for you to move in and enjoy.

20. 2024-06-24
    soldstatus $55,000 Closed 463-char remark

    Show marketing remark (463 chars)

    One story manufactured home, 1,344 sq ft. , 2 bedrooms, 2 baths, den or could be used as a third bedroom, open kitchen, living, dining area, and utility room. This home has had updates and some updates need to be completed. Flooring has been purchased for bedroom, but needs installed. Large back yard in small rural village is great for entertaining. 32' x 24' pole barn built in 2019 can be used as a garage and/or for extra storage. Selling in As Is condition.

21. 2024-06-14
    status Pending 463-char remark

    Show marketing remark (463 chars)

    One story manufactured home, 1,344 sq ft. , 2 bedrooms, 2 baths, den or could be used as a third bedroom, open kitchen, living, dining area, and utility room. This home has had updates and some updates need to be completed. Flooring has been purchased for bedroom, but needs installed. Large back yard in small rural village is great for entertaining. 32' x 24' pole barn built in 2019 can be used as a garage and/or for extra storage. Selling in As Is condition.

22. 2024-05-23
    listed $85,000 Active 463-char remark

    Show marketing remark (463 chars)

    One story manufactured home, 1,344 sq ft. , 2 bedrooms, 2 baths, den or could be used as a third bedroom, open kitchen, living, dining area, and utility room. This home has had updates and some updates need to be completed. Flooring has been purchased for bedroom, but needs installed. Large back yard in small rural village is great for entertaining. 32' x 24' pole barn built in 2019 can be used as a garage and/or for extra storage. Selling in As Is condition.

ⓘ 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: $2,022 · $169/mo
• Projected year-2 tax: $2,022 · $169/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥103°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,170
• − Mortgage interest: −$10,923
• − Property taxes: −$2,022
• − Insurance: −$975
• − Repairs & maintenance: −$1,054
• − Management: −$1,054
• − Depreciation: −$5,673
• Taxable loss: −$8,531
• Est. tax savings @ 24.0%: +$2,047
• After-tax cash flow: $-2,817/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: Benton Community School Corporation
• NCES district ID: 1800480
• Math proficiency: 38% ▼ -7.00%
• Reading proficiency: 43% ▼ -7.00%
• Median HH income: $50,073
• Composite: 34.9/100
• National rank: #5076
• State rank: #134 of 301 in IN

Livability — Earl Park

• Score: 64/100
• State rank: #392
• US rank: #14495

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Earl Park, IN
• Population (ZIP): 789

Population outlook (Benton County) Hauer SSP2

• Today (2025): 8,404 people
• By 2030: 8,234 · -2.0%
• By 2040: 7,832 · -6.8%
• By 2050: 7,337 · -12.7%
• By 2075: 6,436 · -23.4%
• By 2100: 5,139 · -38.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Lithuanian 8% Romanian 5% Iranian 1%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Benton

• 2024 margin: Solid R (+47.1) · D 25.5% · R 72.7% · Other 1.8%
• 2008→2024 swing: -30.9pp toward R · 2008: -16.3pp · 2024: -47.1pp
• All cycles: 2024: R+47.1 2020: R+48.6 2016: R+47.0 2012: R+32.7 2008: R+16.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.11%
• Current HPI: 305.0335
• 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

+129.4% since first listed

6 events — show timeline

• 2026-02-26 Price Changed $195,000 NIRA MLS as Distributed by MLS Grid
• 2025-10-09 Price Changed $209,000 NIRA MLS as Distributed by MLS Grid
• 2025-08-27 Listed $219,000 NIRA MLS as Distributed by MLS Grid
• 2024-06-24 Sold (MLS) $55,000 IRMLS
• 2024-06-14 Pending — IRMLS
• 2024-05-23 Listed $85,000 IRMLS

Property tax history

+27.9%/yr

Latest (2024): $2,022 · -5.8% YoY. Source: county tax records.