344 Lafayette St · Laurel, IN 47024

$125,000

4 bd · 2.0 ba · 1,504 sqft · Manufactured public records · 41 Days on market

Built 1974 0.28 ac 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 +28.0/30.0
• DSCR +9.9/10.0
• Appreciation +9.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• Schools +5.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Spacious and well-maintained 3-bedroom, 2 full bath home offering over 1500 sq. ft. of comfortable living space. This property features a durable metal roof and comes equipped with appliances, making it move-in ready. Enjoy the bright and inviting sunroom--perfect for relaxing evenings year-round. Outside, you'll find a 2-car detached carport, additional car shed for extra storage, and a charming outdoor gazebo ideal for entertaining. The partially fenced yard provides both privacy and functionality. A great opportunity for homeowners or investors alike!

Key facts

• 0.28 acre lot
• 2 garage spots
• Built 1974

Property features AI

Exterior

• Parking: Detached carport; Detached 2-car garage
• Utilities: Private water source; Community sewer
• Home design: Manufactured home; One level
• Construction: Vinyl siding; Block foundation
• Exterior features: Covered patio/porch; Lot approximately 0.28 acres (1/4–1/2 acre)

Interior

• Kitchen: Electric cooktop; Electric oven; Microwave; Dishwasher; Refrigerator
• Bedrooms: 3 bedrooms (all on the main level)
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Baseboard heating; Window unit(s) for cooling
• Interior features: Water softener (owned); Covered patio/porch
• Laundry & utility: Laundry room on main level; Electric water heater; Water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $125k.

Deal economics

• At list price, monthly cash flow is $390 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $121k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#488 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: schools F, crime D-, amenities F.
• Market conditions: 58 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($864 loan paydown + $10k appreciation (7.9% local appreciation)).
• Franklin County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (7.9% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $45k; list at $125k implies a 178% gain — meaningful room to come down on a strong offer.

Recommended offer $121,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.14% ✓
• Cap rate: 10.03%
• Cash-on-cash: 13.36%
• DSCR: 1.59
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

7.94% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 30.3%
• Equity multiple: 3.17×
• Total profit: $75,808
• Equity at exit: $94,480

10-year hold

• IRR: 27.0%
• Equity multiple: 6.75×
• Total profit: $201,375
• Equity at exit: $187,079

Cash invested: $35,000 (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 47024

• Home prices YoY: 3.2%
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,430 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$33 /mo · $390/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $390

Break-even live

Break-even rent $937

Max offer price $125,000

Occupancy floor 68%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-15
   days on market $125,000 Active 41 DOM
2. 2026-06-13
   days on market $125,000 Active 39 DOM
3. 2026-06-13
   days on market $125,000 Active 38 DOM
4. 2026-06-09
   days on market $125,000 Active 35 DOM
5. 2026-06-08
   days on market $125,000 Active 34 DOM
6. 2026-06-07
   days on market $125,000 Active 33 DOM
7. 2026-06-04
   days on market $125,000 Active 30 DOM
8. 2026-06-03
   days on market $125,000 Active 29 DOM
9. 2026-06-02
   days on market $125,000 Active 28 DOM
10. 2026-06-01
    days on market $125,000 Active 27 DOM
11. 2026-05-31
    days on market $125,000 Active 26 DOM
12. 2026-05-04
    listed $135,000 Active 560-char remark
13. 2026-05-04
    listed $135,000 Active 560-char remark
14. 2026-05-04
    listed $135,000 Active
15. 2009-03-28
    soldstatus $45,000
16. 2008-09-24
    soldstatus $10,000

ⓘ 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: $390 · $33/mo
• Projected year-2 tax: $726 · $61/mo
• Expected delta: +$336/yr (+$28/mo · 86.2%)

ⓘ 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 ≥102°F today · 19 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: $17,163
• − Mortgage interest: −$7,002
• − Property taxes: −$390
• − Insurance: −$625
• − Repairs & maintenance: −$1,373
• − Management: −$1,373
• − Depreciation: −$3,636
• Taxable income: $2,764
• Est. tax owed @ 24.0%: −$663
• After-tax cash flow: $4,014/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)

No district data.

Livability — Laurel

• Score: 61/100
• State rank: #488
• US rank: #17449

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Laurel, IN
• Population (ZIP): 2,909

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 22,796 people
• By 2030: 22,556 · -1.1%
• By 2040: 21,762 · -4.5%
• By 2050: 20,575 · -9.7%
• By 2075: 17,810 · -21.9%
• By 2100: 13,698 · -39.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Italian 2% Romanian 2%
• Languages at home: 98% English-only · German/W. Germanic 1%

Political lean MEDSL · Franklin

• 2024 margin: Solid R (+64.4) · D 17.1% · R 81.5% · Other 1.3%
• 2008→2024 swing: -30.3pp toward R · 2008: -34.1pp · 2024: -64.4pp
• All cycles: 2024: R+64.4 2020: R+63.0 2016: R+60.9 2012: R+42.8 2008: R+34.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.94%
• Current HPI: 255.8207
• 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

+1150.0% since first listed

9 events — show timeline

• 2026-06-15 Listing Removed — MIBOR as Distributed by MLS Grid
• 2026-05-19 Price Changed $125,000 SEIBR
• 2026-05-19 Price Changed $125,000 ECIAOR
• 2026-05-19 Price Changed $125,000 MIBOR as Distributed by MLS Grid
• 2026-05-04 Listed $135,000 ECIAOR
• 2026-05-04 Listed $135,000 SEIBR
• 2026-05-04 Listed $135,000 MIBOR as Distributed by MLS Grid
• 2009-03-28 Sold (Public Records) $45,000 Public Records
• 2008-09-24 Sold (Public Records) $10,000 Public Records

Property tax history

+4.4%/yr

Latest (2024): $390 · +6.0% YoY. Source: county tax records.