2102 Bradford St

Clarksville, IN 47129

$50,775B-

3 bd · 2.0 ba · 1,568 sqft · Built 2026 · Manufactured · Active · 22 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,370/mo
• Mortgage (P&I): −$266
• Tax + insurance: −$85
• HOA: −$0
• Vac / Maint / Mgmt: −$288
• Net cashflow: $732/mo
• Annual: $8,778/yr
• Cap rate: 23.58%
• Cash-on-cash: 61.74%
• DSCR: 3.75
• 1% rule: 2.70%
• Cash to close: $14,217

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $51k. Condition is rated fair.
• At list price, monthly cash flow is $732 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $51k).
• It's been on market 22 days — a 2% lower offer ($50k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $50k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $351 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#46 in IN, #3,300 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, commute A-; Watch: crime D+, employment D+, amenities D.
• Greater Clark County Schools (suburban): math 26% / reading 37% proficiency, ranked #224 of 301 in IN (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: W E Wilson Elementary (math 31% / reading 32%, grade F, #678 of 994 statewide, top 68%, 481 students, 70% FRL); River Valley Middle School (math 21% / reading 35%, grade F, #226 of 330 statewide, top 69%, 850 students, 67% FRL); Jeffersonville High School (math 17% / reading 52%, grade F, #270 of 369 statewide, top 77%, 2,130 students, 58% FRL) — zoned schools average 65% FRL vs 48% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 29 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 911 units permitted in Clark County in 2024 (133 in 5+ unit buildings).
• Clark County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.
• Cap rate 23.6% vs local median 3.3% in Clarksville — 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.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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?
• 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.
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Minor: kitchen cabinets — slight wear
• Minor: bathroom wallpaper — slight wear
• Minor: exterior siding — slight wear