503 S 1st St · Van Buren, IN 46991

$89,900

3 bd · 1.0 ba · 1,080 sqft · Manufactured public records · 29 Days on market

Built 1998 8,712 sqft lot

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Why this score? — see what drove the B 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 +29.0/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +7.3/10.0
• 1% rule +6.9/10.0
• Schools +3.8/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Are looking for small town living, well you found it. This home is located in the Eastbrook School District. This 2 bedroom and 1 bath manufactured home features 1080 Square feet. A big fenced in back yard. Both bedrooms have big walk in closets.

Key facts

• Walk in closets
• Fenced in back yard
• 8,712 sq ft lot

Tags

• FENCED IN BACK YARD
• WALK IN CLOSETS

Property features AI

Finance

• Other: Lot under 1/4 acre (approximately 0.2 acre)

Exterior

• Utilities: Public water; Municipal sewer connected; Cable connected
• Home design: Manufactured home; One story
• Construction: Vinyl siding; Crawl space foundation
• Exterior features: Fenced yard

Interior

• Kitchen: Kitchen on main level
• Bedrooms: 2 bedrooms (both on the main level)
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Walk-in closet(s)
• Laundry & utility: Main-level laundry room; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $90k.

Deal economics

• At list price, monthly cash flow is $308 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $89k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#529 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-; Watch: health & safety C-, crime D, schools D-.
• Eastbrook Community School Corporation (rural): math 42% / reading 46% proficiency, ranked #98 of 301 in IN (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 9 active listings in the ZIP; 52 units permitted in Grant County in 2024 (8 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($622 loan paydown + $4k appreciation (4.6% local appreciation)).
• Grant County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.6% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Recommended offer $88,551 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 1.19% ✓
• Cap rate: 10.41%
• Cash-on-cash: 14.70%
• DSCR: 1.65
• GRM: 7.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.61% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.7%
• Equity multiple: 2.52×
• Total profit: $38,356
• Equity at exit: $48,853

10-year hold

• IRR: 24.2%
• Equity multiple: 4.97×
• Total profit: $99,897
• Equity at exit: $82,632

Cash invested: $25,172 (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 46991

• Home prices YoY: 2.4%
• Active inventory: 9
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,072 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$30 /mo · $360/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $308

Break-even live

Break-even rent $682

Max offer price $89,900

Occupancy floor 66%

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $89,900 Active 29 DOM
2. 2026-06-18
   days on market $89,900 Active 28 DOM
3. 2026-06-17
   days on market $89,900 Active 27 DOM
4. 2026-06-16
   days on market $89,900 Active 26 DOM
5. 2026-06-15
   days on market $89,900 Active 25 DOM
6. 2026-06-14
   days on market $89,900 Active 23 DOM
7. 2026-06-12
   days on market $89,900 Active 22 DOM
8. 2026-06-09
   days on market $89,900 Active 19 DOM
9. 2026-06-08
   days on market $89,900 Active 18 DOM
10. 2026-06-07
    days on market $89,900 Active 17 DOM
11. 2026-06-05
    days on market $89,900 Active 14 DOM
12. 2026-06-03
    days on market $89,900 Active 13 DOM
13. 2026-06-02
    days on market $89,900 Active 12 DOM
14. 2026-06-01
    days on market $89,900 Active 11 DOM
15. 2026-05-31
    days on market $89,900 Active 10 DOM
16. 2026-05-30
    days on market $89,900 Active 9 DOM
17. 2026-05-21
    listed $89,900 Active 246-char remark

    Show marketing remark (246 chars)

    Are looking for small town living, well you found it. This home is located in the Eastbrook School District. This 2 bedroom and 1 bath manufactured home features 1080 Square feet. A big fenced in back yard. Both bedrooms have big walk in closets.

18. 2026-05-21
    listed $89,900 Active

    Show marketing remark (246 chars)

    Are looking for small town living, well you found it. This home is located in the Eastbrook School District. This 2 bedroom and 1 bath manufactured home features 1080 Square feet. A big fenced in back yard. Both bedrooms have big walk in closets.

ⓘ 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: $360 · $30/mo
• Projected year-2 tax: $562 · $47/mo
• Expected delta: +$202/yr (+$17/mo · 56.1%)

ⓘ 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 ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,869
• − Mortgage interest: −$5,036
• − Property taxes: −$360
• − Insurance: −$450
• − Repairs & maintenance: −$1,030
• − Management: −$1,030
• − Depreciation: −$2,615
• Taxable income: $2,350
• Est. tax owed @ 24.0%: −$564
• After-tax cash flow: $3,136/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: Eastbrook Community School Corporation
• NCES district ID: 1803030
• Math proficiency: 42% ▬ 0.00%
• Reading proficiency: 46% ▼ -1.00%
• Median HH income: $55,030
• Composite: 38.28/100
• National rank: #4234
• State rank: #98 of 301 in IN

Livability — Van Buren

• Score: 60/100
• State rank: #529
• US rank: #19010

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Van Buren, IN
• Population (ZIP): 1,657

Population outlook (Grant County) Hauer SSP2

• Today (2025): 64,394 people
• By 2030: 62,145 · -3.5%
• By 2040: 57,252 · -11.1%
• By 2050: 52,968 · -17.7%
• By 2075: 45,986 · -28.6%
• By 2100: 39,400 · -38.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 7% Hispanic / Latino 3%
• Common ancestry: Serbian 2% Slovak 1% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Grant

• 2024 margin: Solid R (+41.8) · D 28.2% · R 70.0% · Other 1.9%
• 2008→2024 swing: -28.7pp toward R · 2008: -13.1pp · 2024: -41.8pp
• All cycles: 2024: R+41.8 2020: R+38.8 2016: R+39.5 2012: R+22.0 2008: R+13.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.61%
• Current HPI: 193.7506
• 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

+0.0% since first listed

2 events — show timeline

• 2026-05-21 Listed $89,900 MIBOR as Distributed by MLS Grid
• 2026-05-21 Listed $89,900 IRMLS

Property tax history

-8.1%/yr

Latest (2025): $360 · +3.6% YoY. Source: county tax records.