8392 US Highway 50 Cmn

Shoals, IN 47581

$136,900D+

3 bd · 2.0 ba · 1,216 sqft · Built 1999 · Manufactured · Active · 11 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,102/mo
• Mortgage (P&I): −$718
• Tax + insurance: −$82
• HOA: −$0
• Vac / Maint / Mgmt: −$232
• Net cashflow: $71/mo
• Annual: $857/yr
• Cap rate: 6.92%
• Cash-on-cash: 2.23%
• DSCR: 1.10
• 1% rule: 0.81%
• Cash to close: $38,332

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $137k.
• At list price, monthly cash flow is $71 ($857/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $110k (19.5% below list).
• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $110k (19.5% below list) — sets the bar for 1% rule.
• In year one you build about $7k of equity ($946 loan paydown + $6k appreciation (4.2% local appreciation)).
• Location reads 62/100 on livability (#484 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, health & safety C-, amenities F.
• Shoals Community School Corporation (rural): math 24% / reading 34% proficiency, ranked #248 of 301 in IN (top 82%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Shoals Community Elementary School (math 32% / reading 32%, grade F, #652 of 994 statewide, top 68%, 314 students, 52% FRL); Shoals Community High School (math 15% / reading 54%, grade F, #269 of 369 statewide, top 73%, 192 students, 54% FRL) — zoned schools at 53% FRL track the district average.
• Market conditions: 18 active listings in the ZIP; 2 units permitted in Martin County in 2024 (0 in 5+ unit buildings).
• Martin County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $35k; list at $137k implies a 291% gain — meaningful room to come down on a strong offer.
• At projected returns (4.2% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.