6979 Mcfarren Rd · Gosport, IN 47433

$137,000

2 bd · 2.0 ba · 924 sqft · Manufactured public records · 5 Days on market

Manufactured home Built 1987 9.05 ac lot Est $137k · at est.

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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 +10.0/10.0
• ARV discount +7.4/15.0
• Cash flow +5.2/30.0
• Livability +3.6/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.1/10.0
• DSCR +0.0/10.0

Listing remarks MLS

New listing, contains 9.05 acres, two bedroom 2 full bath mobile home. It has an exta room that could be another bedroom, I have it listed as an office. This home needs finished but all the materials are there. New flooring and new cabinets need installed. It has new windows and new sliding glass door installed. New furnace and air installed. The sub floor is down with 3/4 plywood. Updated electric with 3 way light switches new split circuits for kitchen outlets. Walls have all new insulation. Both bathrooms have been updated. New hot water heater. It is a beautiful piece of property with a creek.

Key facts

• 9.05 acres
• New furnace
• New cabinets

Tags

• 9.05 ACRES
• VINYL PLANK FLOORING
• NEW CABINETS
• NEW WINDOWS
• NEW SLIDING GLASS DOOR
• NEW FURNACE

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $137k.

Deal economics

• At list price, monthly cash flow is $-313 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $82k (40.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $69k (49.5% below list).
• Recommended offer: $69k (49.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 71/100 on livability (#133 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, amenities F, commute F.
• Spencer-Owen Community Schools (rural): math 38% / reading 40% proficiency, ranked #155 of 301 in IN (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Gosport Elementary School (math 37% / reading 32%, grade F, #597 of 994 statewide, top 63%, 144 students, 76% FRL); Owen Valley Middle School (math 22% / reading 36%, grade F, #222 of 330 statewide, top 67%, 344 students, 55% FRL); Owen Valley Community High School (math 42% / reading 62%, grade D+, #106 of 369 statewide, top 31%, 671 students, 51% FRL) — zoned schools average 61% FRL vs 44% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 30 active listings in the ZIP; 120 units permitted in Owen County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $15k of equity ($947 loan paydown + $14k appreciation (10.0% local appreciation)).
• Owen County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 3, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 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 $69,239 (49.5% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.51% ✗
• Cap rate: 3.55%
• Cash-on-cash: -9.80%
• DSCR: 0.56
• GRM: 16.5

CMA / ARV

• ARV (on-the-fly): $136,752
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6979 Mcfarren Rd	0.00mi	2/2.0	924 (0%)	2mo	$137,000	$148	98

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 17.4%
• Equity multiple: 2.42×
• Total profit: $54,611
• Equity at exit: $123,420

10-year hold

• IRR: 16.4%
• Equity multiple: 5.60×
• Total profit: $176,432
• Equity at exit: $266,161

Cash invested: $38,360 (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 47433

• Home prices YoY: 9.4%
• Active inventory: 30
• Price-to-rent: 16.5×

Monthly cashflow live

• Estimated rent: $692 medium
• Mortgage (P&I): −$718
• Tax from tax record: −$85 /mo · $1,018/yr
• Insurance: −$57
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$145
• Net cashflow: $-313

Break-even live

Break-even rent $1,089

Max offer price $81,637

Occupancy floor —

Sensitivity live

Price	-10% $-236	-5% $-275	+0% $-313	+5% $-352	+10% $-391
Rent	-10% $-368	-5% $-341	+0% $-313	+5% $-286	+10% $-259
Rate	-1.0pp $-244	-0.5pp $-279	base $-313	+0.5pp $-349	+1.0pp $-385

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: $34,250
• Closing costs: $4,110
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-04-29
   soldstatus $137,000 Closed 610-char remark

   Show marketing remark (610 chars)

   New listing, contains 9.05 acres, two bedroom 2 full bath mobile home. It has an exta room that could be another bedroom, I have it listed as an office. This home needs finished but all the materials are there. New flooring and new cabinets need installed. It has new windows and new sliding glass door installed. New furnace and air installed. The sub floor is down with 3/4 plywood. Updated electric with 3 way light switches new split circuits for kitchen outlets. Walls have all new insulation. Both bathrooms have been updated. New hot water heater. It is a beautiful piece of property with a creek.

2. 2026-03-23
   status Pending

   Show marketing remark (610 chars)

   New listing, contains 9.05 acres, two bedroom 2 full bath mobile home. It has an exta room that could be another bedroom, I have it listed as an office. This home needs finished but all the materials are there. New flooring and new cabinets need installed. It has new windows and new sliding glass door installed. New furnace and air installed. The sub floor is down with 3/4 plywood. Updated electric with 3 way light switches new split circuits for kitchen outlets. Walls have all new insulation. Both bathrooms have been updated. New hot water heater. It is a beautiful piece of property with a creek.

3. 2026-03-23
   status Pending 610-char remark

   Show marketing remark (610 chars)

   New listing, contains 9.05 acres, two bedroom 2 full bath mobile home. It has an exta room that could be another bedroom, I have it listed as an office. This home needs finished but all the materials are there. New flooring and new cabinets need installed. It has new windows and new sliding glass door installed. New furnace and air installed. The sub floor is down with 3/4 plywood. Updated electric with 3 way light switches new split circuits for kitchen outlets. Walls have all new insulation. Both bathrooms have been updated. New hot water heater. It is a beautiful piece of property with a creek.

4. 2026-03-18
   listed $137,000 Active 610-char remark

   Show marketing remark (610 chars)

   New listing, contains 9.05 acres, two bedroom 2 full bath mobile home. It has an exta room that could be another bedroom, I have it listed as an office. This home needs finished but all the materials are there. New flooring and new cabinets need installed. It has new windows and new sliding glass door installed. New furnace and air installed. The sub floor is down with 3/4 plywood. Updated electric with 3 way light switches new split circuits for kitchen outlets. Walls have all new insulation. Both bathrooms have been updated. New hot water heater. It is a beautiful piece of property with a creek.

5. 2026-03-18
   listed $137,000 Active

   Show marketing remark (610 chars)

   New listing, contains 9.05 acres, two bedroom 2 full bath mobile home. It has an exta room that could be another bedroom, I have it listed as an office. This home needs finished but all the materials are there. New flooring and new cabinets need installed. It has new windows and new sliding glass door installed. New furnace and air installed. The sub floor is down with 3/4 plywood. Updated electric with 3 way light switches new split circuits for kitchen outlets. Walls have all new insulation. Both bathrooms have been updated. New hot water heater. It is a beautiful piece of property with a creek.

ⓘ 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: $1,018 · $85/mo
• Projected year-2 tax: $1,091 · $91/mo
• Expected delta: +$73/yr (+$6/mo · 7.2%)

ⓘ 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 · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $8,309
• − Mortgage interest: −$7,674
• − Property taxes: −$1,018
• − Insurance: −$685
• − Repairs & maintenance: −$665
• − Management: −$665
• − Depreciation: −$3,985
• Taxable loss: −$6,384
• Est. tax savings @ 24.0%: +$1,532
• After-tax cash flow: $-2,229/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: Spencer-Owen Community Schools
• NCES district ID: 1810950
• Math proficiency: 38% ▼ -6.00%
• Reading proficiency: 40% ▼ -6.00%
• Median HH income: $45,258
• Composite: 33.21/100
• National rank: #5529
• State rank: #155 of 301 in IN

Livability — Gosport

• Score: 71/100
• State rank: #133
• US rank: #6926

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 3,722

Population outlook (Owen County) Hauer SSP2

• Today (2025): 19,045 people
• By 2030: 17,930 · -5.9%
• By 2040: 15,507 · -18.6%
• By 2050: 13,253 · -30.4%
• By 2075: 9,364 · -50.8%
• By 2100: 6,686 · -64.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Two or more races 2%
• Common ancestry: Italian 12% Iranian 2% Slovak 2%
• Foreign-born: 0%

Political lean MEDSL · Owen

• 2024 margin: Solid R (+50.7) · D 23.8% · R 74.5% · Other 1.6%
• 2008→2024 swing: -40.3pp toward R · 2008: -10.3pp · 2024: -50.7pp
• All cycles: 2024: R+50.7 2020: R+49.1 2016: R+49.4 2012: R+27.6 2008: R+10.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 24.01%
• Current HPI: 278.3717
• 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

5 events — show timeline

• 2026-04-29 Sold (MLS) $137,000 MIBOR as Distributed by MLS Grid
• 2026-03-23 Pending — IRMLS
• 2026-03-23 Pending — MIBOR as Distributed by MLS Grid
• 2026-03-18 Listed $137,000 IRMLS
• 2026-03-18 Listed $137,000 MIBOR as Distributed by MLS Grid

Property tax history

+1.2%/yr

Latest (2024): $1,018 · -0.8% YoY. Source: county tax records.