430 W 1000 N · Fortville, IN 46040

$175,000

2 bd · 2.0 ba · 1,440 sqft · Manufactured public records · 18 Days on market

Built 1970 2.20 ac lot

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Why this score? — see what drove the C 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 +24.9/30.0
• DSCR +8.1/10.0
• ARV discount +7.5/15.0
• 1% rule +5.2/10.0
• Schools +4.1/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Easily the best buy in Fortville! Because of it's condition you have the opportunity for the buy of a lifetime. Seriously, there will be some work required, you'll need a carpenter, plumber, hvac contractor, a gardener, and that's just for starters. When you write your full price offer keep in mind you'll have a newer well on over an acre in one of the fastest growing communities in the State of Indiana!

Key facts

• Two parcels
• 2.2 acre lot
• 2 garage spots

Tags

• TWO PARCELS
• APPROXIMATELY 2.2 ACRES
• EXISTING UTILITY CONNECTIONS
• IMPROVEMENTS ALREADY IN PLACE
• EXISTING INFRASTRUCTURE
• BUILDING MATERIALS ON SITE

Property features AI

Finance

• Other: Property listed in fixer condition; Approximately 1–3 acres; lot listed as 2.2 acres

Exterior

• Parking: Detached 2-car garage; Additional parking/other parking
• Utilities: Private water; Septic system; No solid waste service indicated
• Home design: Manufactured home; One level
• Construction: Aluminum and vinyl siding
• Exterior features: 2.2-acre lot (approximately); Partial basement; Private setting (rural; GPS-friendly directions noted)

Interior

• Kitchen: Kitchen with breakfast room
• Bedrooms: Three bedrooms on the main level
• Bathrooms: Two full bathrooms (main level)
• Heating & cooling: Forced air heating; Additional/other cooling
• Interior features: Eat-in kitchen; Sun room
• Laundry & utility: Main-level laundry room; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $175k.

Deal economics

• At list price, monthly cash flow is $375 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $172k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.9% vs local median 4.2% in Fortville — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 69/100 on livability (#189 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Mt Vernon Community School Corporation (rural): math 43% / reading 48% proficiency, ranked #70 of 301 in IN (top 23%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 18% free/reduced lunch — higher-income household profile.
• Zoned schools: Fortville Elementary School (math 50% / reading 46%, grade D, #314 of 994 statewide, top 32%, 719 students, 31% FRL); Mt Vernon Middle School (math 37% / reading 46%, grade F, #108 of 330 statewide, top 34%, 1,070 students, 31% FRL); Mt Vernon High School (math 41% / reading 71%, grade C, #73 of 369 statewide, top 20%, 1,431 students, 27% FRL).
• Market conditions: 307 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,091 units permitted in Hancock County in 2024 (0 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.
• Hancock 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 18 days — a 2% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 25y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $50k; list at $175k implies a 250% gain — meaningful room to come down on a strong offer.

Recommended offer $172,375 (1.5% below list)

Questions for the listing agent

1. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.02% ✓
• Cap rate: 8.87%
• Cash-on-cash: 9.19%
• DSCR: 1.41
• GRM: 8.1

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: -2.5%
• Equity multiple: 0.91×
• Total profit: $-4,535
• Equity at exit: $26,093

10-year hold

• IRR: 7.2%
• Equity multiple: 1.54×
• Total profit: $26,512
• Equity at exit: $15,131

Cash invested: $49,000 (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 46040

• Home prices YoY: -24.4%
• Active inventory: 307
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,792 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$50 /mo · $596/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$376
• Net cashflow: $375

Break-even live

Break-even rent $1,317

Max offer price $175,000

Occupancy floor 74%

Sensitivity live

Price	-10% $474	-5% $425	+0% $375	+5% $326	+10% $276
Rent	-10% $234	-5% $304	+0% $375	+5% $446	+10% $517
Rate	-1.0pp $463	-0.5pp $420	base $375	+0.5pp $330	+1.0pp $284

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10845 Mansfield Way Ingalls, IN	3.0	2.5	1516	$1,825	$1.20	12d	1	1.19mi
936 E Broadway St Fortville, IN	3.0	1.5	1200	$1,750	$1.46	25d	1	1.32mi

Listing history 15 events

1. 2026-06-21
   statusdays on market $175,000 Pending 18 DOM
2. 2026-06-18
   days on market $175,000 Active 17 DOM
3. 2026-06-17
   days on market $175,000 Active 16 DOM
4. 2026-06-16
   days on market $175,000 Active 15 DOM
5. 2026-06-15
   days on market $175,000 Active 14 DOM
6. 2026-06-13
   days on market $175,000 Active 12 DOM
7. 2026-06-13
   days on market $175,000 Active 11 DOM
8. 2026-06-09
   days on market $175,000 Active 8 DOM
9. 2026-06-08
   days on market $175,000 Active 7 DOM
10. 2026-06-07
    days on market $175,000 Active 6 DOM
11. 2026-06-05
    days on market $175,000 Active 3 DOM
12. 2026-06-03
    days on market $175,000 Active 2 DOM
13. 2026-06-02
    remarks 699-char remark
14. 2026-06-01
    remarks 646-char remark
15. 2026-06-01
    listed $175,000 Active 1 DOM

ⓘ 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: $596 · $50/mo
• Projected year-2 tax: $1,042 · $87/mo
• Expected delta: +$446/yr (+$37/mo · 74.7%)

ⓘ 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 ≥101°F today · 18 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: $21,502
• − Mortgage interest: −$9,803
• − Property taxes: −$596
• − Insurance: −$875
• − Repairs & maintenance: −$1,720
• − Management: −$1,720
• − Depreciation: −$5,091
• Taxable income: $1,697
• Est. tax owed @ 24.0%: −$407
• After-tax cash flow: $4,096/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: Mt Vernon Community School Corporation
• NCES district ID: 1807260
• Math proficiency: 43% ▼ -12.00%
• Reading proficiency: 48% ▼ -7.00%
• Median HH income: $73,671
• Composite: 41.3/100
• National rank: #3514
• State rank: #70 of 301 in IN

Livability — Fortville

• Score: 69/100
• State rank: #189
• US rank: #8710

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 17,891

Population outlook (Hancock County) Hauer SSP2

• Today (2025): 77,820 people
• By 2030: 79,914 · +2.7%
• By 2040: 82,734 · +6.3%
• By 2050: 83,348 · +7.1%
• By 2075: 82,439 · +5.9%
• By 2100: 74,181 · -4.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Black 6% Two or more races 4% Asian 4% Hispanic / Latino 2%
• Common ancestry: Lithuanian 5% Romanian 2% Portuguese 2%
• Foreign-born: 5% · Canada
• Languages at home: 94% English-only · Other Indo-European 3% Arabic 1% Spanish 1%

Political lean MEDSL · Hancock

• 2024 margin: Solid R (+33.7) · D 32.2% · R 65.9% · Other 1.9%
• 2008→2024 swing: -4.1pp toward R · 2008: -29.6pp · 2024: -33.7pp
• All cycles: 2024: R+33.7 2020: R+37.5 2016: R+44.8 2012: R+41.0 2008: R+29.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -71.54%
• Current HPI: 221.8703
• 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

+34.6% since first listed

8 events — show timeline

• 2026-06-01 Listed $175,000 MIBOR as Distributed by MLS Grid
• 2018-10-30 Sold (MLS) $50,000 MIBOR as Distributed by MLS Grid
• 2018-09-14 Pending — MIBOR as Distributed by MLS Grid
• 2018-08-26 Listed $65,000 MIBOR as Distributed by MLS Grid
• 2008-04-24 Sold (MLS) $30,000 MIBOR as Distributed by MLS Grid
• 2008-01-02 Listed $39,900 MIBOR as Distributed by MLS Grid
• 2001-08-20 Listing Removed — MIBOR as Distributed by MLS Grid
• 2001-02-22 Listed $129,999 MIBOR as Distributed by MLS Grid

Property tax history

-8.7%/yr

Latest (2025): $596 · +35.6% YoY. Source: county tax records.