1420 Lindsey St · Charlestown, IN 47111

$99,999

2 bd · 1.0 ba · 598 sqft · Manufactured public records · 57 Days on market

Built 1996 4,299 sqft lot $167/sqft · 28% below area Est $138k · 28% under

---

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 +29.1/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.7/10.0
• Livability +3.2/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great investment property! It is a Cash flow cow! We have a great renter in there now. Tenant is in a one year lease ends February 2027. Detached garage and house is in great shape. Please reach out for questions!!!

Key facts

• 4,299 sq ft lot
• Garage
• Built 1996

🏷️ Possibly a rental listed for sale. The $99,999 price doesn't fit this home's estimated sale value (~$138,152) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $100k.

Deal economics

• At list price, monthly cash flow is $344 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.4% vs local median 3.2% in Charlestown — 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.

Location & tenants

• Location reads 65/100 on livability (#352 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D, amenities F, commute F.
• 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.
• Market conditions: 263 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 911 units permitted in Clark County in 2024 (133 in 5+ unit buildings).
• This rent is only 16% of the median local income ($95k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• 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 $28k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $15k; list at $100k implies a 567% gain — meaningful room to come down on a strong offer.

Recommended offer $96,999 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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. 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: 1.27% ✓
• Cap rate: 10.43%
• Cash-on-cash: 14.76%
• DSCR: 1.66
• GRM: 6.5

CMA / ARV

• ARV (median comp): $138,152
• List price: $99,999
• Delta: -27.62%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 5.3%
• Equity multiple: 1.20×
• Total profit: $5,731
• Equity at exit: $14,910

10-year hold

• IRR: 14.7%
• Equity multiple: 2.19×
• Total profit: $33,241
• Equity at exit: $8,646

Cash invested: $28,000 (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 47111

• Active inventory: 263
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,275 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$97 /mo · $1,160/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$268
• Net cashflow: $344

Break-even live

Break-even rent $839

Max offer price $99,999

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1155 Indiana 62 Charlestown, IN	1.0–2.0	1.0–2.0	993	$1,550	$1.56	1d	152	0.62mi

Listing history 16 events

1. 2026-06-18
   days on market $99,999 Active 57 DOM
2. 2026-06-17
   days on market $99,999 Active 56 DOM
3. 2026-06-16
   days on market $99,999 Active 55 DOM
4. 2026-06-15
   days on market $99,999 Active 54 DOM
5. 2026-06-13
   days on market $99,999 Active 52 DOM
6. 2026-06-13
   pricedays on market $99,999 Active 51 DOM
7. 2026-06-10
   days on market $109,999 Active 49 DOM
8. 2026-06-09
   days on market $109,999 Active 48 DOM
9. 2026-06-08
   days on market $109,999 Active 47 DOM
10. 2026-06-07
    days on market $109,999 Active 46 DOM
11. 2026-06-03
    days on market $109,999 Active 42 DOM
12. 2026-06-02
    days on market $109,999 Active 41 DOM
13. 2026-06-01
    days on market $109,999 Active 40 DOM
14. 2026-05-31
    days on market $109,999 Active 39 DOM
15. 2026-04-22
    listed $120,000 Active 218-char remark

    Show marketing remark (218 chars)

    Great investment property! It is a Cash flow cow! We have a great renter in there now. Tenant is in a one year lease ends February 2027. Detached garage and house is in great shape. Please reach out for questions!!!

16. 2014-12-04
    soldstatus $15,000

ⓘ 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: $1,160 · $97/mo
• Projected year-2 tax: $1,160 · $97/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 4/10 Moderate 7 d/yr ≥104°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,298
• − Mortgage interest: −$5,601
• − Property taxes: −$1,160
• − Insurance: −$500
• − Repairs & maintenance: −$1,224
• − Management: −$1,224
• − Depreciation: −$2,909
• Taxable income: $2,680
• Est. tax owed @ 24.0%: −$643
• After-tax cash flow: $3,489/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: Greater Clark County Schools
• NCES district ID: 1803940
• Math proficiency: 26% ▼ -15.00%
• Reading proficiency: 37% ▼ -13.00%
• Median HH income: $47,838
• Composite: 27.2/100
• National rank: #7020
• State rank: #224 of 301 in IN

Livability — Charlestown

• Score: 65/100
• State rank: #352
• US rank: #13430

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Charlestown, IN
• County: Clark County · 108,879 people
• City population: 17,738
• Metro: Louisville/Jefferson County, KY-IN
• Population (ZIP): 17,738
• Household income: $95,376
• Rent vs Own: 13.4% rent · 86.6% own
• Severe rent burden: 151.0

Population outlook (Clark County) Hauer SSP2

• Today (2025): 126,401 people
• By 2030: 131,455 · +4.0%
• By 2040: 140,471 · +11.1%
• By 2050: 147,677 · +16.8%
• By 2075: 161,702 · +27.9%
• By 2100: 164,078 · +29.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 5% Hispanic / Latino 4% Black 3%
• Common ancestry: Italian 2% Lithuanian 2% Romanian 2%
• Foreign-born: 3% · Canada, China
• Languages at home: 95% English-only · Spanish 3% Chinese 1%

Political lean MEDSL · Clark

• 2024 margin: Strong R (+20.4) · D 38.9% · R 59.3% · Other 1.8%
• 2008→2024 swing: -13.3pp toward R · 2008: -7.1pp · 2024: -20.4pp
• All cycles: 2024: R+20.4 2020: R+18.3 2016: R+22.0 2012: R+9.9 2008: R+7.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -126.16%
• Current HPI: 198.7046
• Rent YoY: —
• Metro: Louisville/Jefferson County, KY-IN
• 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

+700.0% since first listed

2 events — show timeline

• 2026-04-22 Listed $120,000 SIRA
• 2014-12-04 Sold (Public Records) $15,000 Public Records

Property tax history

+5.0%/yr

Latest (2024): $1,160 · +3.4% YoY. Source: county tax records.