805 Park Dr · Gentryville, IN 47537

$124,000

2 bd · 2.0 ba · 784 sqft · Manufactured public records · 41 Days on market

Built 2001 1.00 ac lot

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Why this score? — see what drove the D- 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 +9.0/10.0
• ARV discount +7.5/15.0
• Cash flow +6.9/30.0
• Schools +5.5/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.8/10.0
• DSCR +1.1/10.0

Listing remarks MLS

You must see this property to appreciate it! This manufactured home sits on 1 acre, and is steps away from the park, complete with a lake for fishing, a shelter house, and a playground!! There's even hiking trails on state ground less than half a mile away! The home features an open concept living and kitchen area, and a split floor plan. A wonderful new deck overlooks the spacious backyard. Just off the deck you’ll find an air conditioned shed, perfect for an office, hobby room, or playhouse! There’s also a large workshop, including attached kennels. The large, flat lot provides ample space to add a pole barn for additional storage. Make an appointment to see this one today!

Key facts

• Shelter house
• New carpeting
• Tennis courts

Tags

• FISHING LAKE
• TENNIS COURTS
• BASKETBALL COURTS
• SHELTER HOUSE
• FRESHLY PAINTED INTERIOR
• NEW CARPETING

Property features AI

Finance

• Other: Lot size approximately 1 acre
• Financial info: Annual tax amount provided
• HOA & community: No subdivision / HOA indicated

Exterior

• Parking: Gravel parking
• Security: Security details not provided
• Utilities: Public water; Public sewer
• Home design: Manufactured home (residential); Above-grade finished living area reported
• Construction: Aluminum siding; Year built not provided; Foundation details not provided; Roof details not provided
• Exterior features: Level lot; Shed(s) on the property

Interior

• Kitchen: Kitchen details not provided
• Bedrooms: Bedrooms information not provided
• Flooring: Flooring details not provided
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Central air conditioning; Natural gas forced-air heating
• Interior features: No basement; Total of 4 rooms
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $124k.

Deal economics

• At list price, monthly cash flow is $-190 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $96k (22.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $84k (31.9% below list).
• Recommended offer: $84k (31.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 61/100 on livability (#495 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime D+, employment D.
• North Spencer County School Corporation (rural): math 64% / reading 63% proficiency, ranked #12 of 301 in IN (top 4%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: David Turnham Education Center (math 72% / reading 62%, grade B+, #55 of 994 statewide, top 6%, 300 students, 52% FRL); Heritage Hills Middle School (math 58% / reading 62%, grade B, #15 of 330 statewide, top 5%, 299 students, 34% FRL); Heritage Hills High School (math 52% / reading 77%, grade B-, #34 of 369 statewide, top 10%, 642 students, 34% FRL) — zoned schools average 40% FRL vs 23% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 3 active listings in the ZIP; 78 units permitted in Spencer County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($857 loan paydown + $10k appreciation (7.9% local appreciation)).
• Spencer County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 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 ($120k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y ago 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.
• Current owner paid $90k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $84,412 (31.9% 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. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 32% concession, seller financing, or rate buy-down credit?
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. 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?
7. 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.
8. 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.
9. 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: 0.68% ✗
• Cap rate: 4.45%
• Cash-on-cash: -6.57%
• DSCR: 0.71
• GRM: 12.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

7.92% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.9%
• Equity multiple: 2.11×
• Total profit: $38,369
• Equity at exit: $93,548

10-year hold

• IRR: 14.7%
• Equity multiple: 4.47×
• Total profit: $120,321
• Equity at exit: $185,068

Cash invested: $34,720 (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 47537

• Home prices YoY: 3.9%
• Active inventory: 3
• Price-to-rent: 12.2×

Monthly cashflow live

• Estimated rent: $844 medium
• Mortgage (P&I): −$650
• Tax est. 1.5%: −$155 /mo · $1,860/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$177
• Net cashflow: $-190

Break-even live

Break-even rent $1,085

Max offer price $96,495

Occupancy floor —

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: $31,000
• Closing costs: $3,720
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $124,000 Active 41 DOM
2. 2026-06-17
   days on market $124,000 Active 40 DOM
3. 2026-06-16
   days on market $124,000 Active 39 DOM
4. 2026-06-15
   days on market $124,000 Active 38 DOM
5. 2026-06-13
   days on market $124,000 Active 36 DOM
6. 2026-06-12
   days on market $124,000 Active 35 DOM
7. 2026-06-09
   days on market $124,000 Active 32 DOM
8. 2026-06-08
   days on market $124,000 Active 31 DOM
9. 2026-06-07
   days on market $124,000 Active 30 DOM
10. 2026-06-04
    days on market $124,000 Active 26 DOM
11. 2026-06-02
    days on market $124,000 Active 25 DOM
12. 2026-06-01
    days on market $124,000 Active 24 DOM
13. 2026-05-31
    days on market $124,000 Active 23 DOM
14. 2026-05-31
    days on market $124,000 Active 22 DOM
15. 2026-05-08
    listed $124,000 Active 865-char remark
16. 2022-09-07
    soldstatus $90,000 Closed 697-char remark

    Show marketing remark (697 chars)

    You must see this property to appreciate it! This manufactured home sits on 1 acre, and is steps away from the park, complete with a lake for fishing, a shelter house, and a playground!! There's even hiking trails on state ground less than half a mile away! The home features an open concept living and kitchen area, and a split floor plan. A wonderful new deck overlooks the spacious backyard. Just off the deck you’ll find an air conditioned shed, perfect for an office, hobby room, or playhouse! There’s also a large workshop, including attached kennels. The large, flat lot provides ample space to add a pole barn for additional storage. Make an appointment to see this one today!

17. 2022-08-05
    status Pending 697-char remark

    Show marketing remark (697 chars)

    You must see this property to appreciate it! This manufactured home sits on 1 acre, and is steps away from the park, complete with a lake for fishing, a shelter house, and a playground!! There's even hiking trails on state ground less than half a mile away! The home features an open concept living and kitchen area, and a split floor plan. A wonderful new deck overlooks the spacious backyard. Just off the deck you’ll find an air conditioned shed, perfect for an office, hobby room, or playhouse! There’s also a large workshop, including attached kennels. The large, flat lot provides ample space to add a pole barn for additional storage. Make an appointment to see this one today!

18. 2022-07-13
    listed $99,000 Active 697-char remark

    Show marketing remark (697 chars)

    You must see this property to appreciate it! This manufactured home sits on 1 acre, and is steps away from the park, complete with a lake for fishing, a shelter house, and a playground!! There's even hiking trails on state ground less than half a mile away! The home features an open concept living and kitchen area, and a split floor plan. A wonderful new deck overlooks the spacious backyard. Just off the deck you’ll find an air conditioned shed, perfect for an office, hobby room, or playhouse! There’s also a large workshop, including attached kennels. The large, flat lot provides ample space to add a pole barn for additional storage. Make an appointment to see this one today!

19. 2017-06-07
    soldstatus $40,000

    Show marketing remark (240 chars)

    Nice location with a lakeview and park across the street. Level lot with storage building on 1 acre. Nice 2 BR 2 ba. home with newer flooring, all appliances and roomy kitchen. Home has had the trailer tongue removed. and it is underpinned.

20. 2017-04-09
    listed $47,500

    Show marketing remark (240 chars)

    Nice location with a lakeview and park across the street. Level lot with storage building on 1 acre. Nice 2 BR 2 ba. home with newer flooring, all appliances and roomy kitchen. Home has had the trailer tongue removed. and it is underpinned.

21. 2009-03-17
    soldstatus $20,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,129
• − Mortgage interest: −$6,946
• − Property taxes: −$1,860
• − Insurance: −$620
• − Repairs & maintenance: −$810
• − Management: −$810
• − Depreciation: −$3,607
• Taxable loss: −$4,524
• Est. tax savings @ 24.0%: +$1,086
• After-tax cash flow: $-1,195/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: North Spencer County School Corporation
• NCES district ID: 1808010
• Math proficiency: 64% ▼ -7.00%
• Reading proficiency: 63% ▼ -6.00%
• Median HH income: $58,055
• Composite: 54.76/100
• National rank: #1318
• State rank: #12 of 301 in IN

Livability — Gentryville

• Score: 61/100
• State rank: #495
• US rank: #17619

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: Gentryville, IN
• Population (ZIP): 606

Population outlook (Spencer County) Hauer SSP2

• Today (2025): 20,394 people
• By 2030: 19,912 · -2.4%
• By 2040: 18,592 · -8.8%
• By 2050: 17,051 · -16.4%
• By 2075: 14,010 · -31.3%
• By 2100: 10,869 · -46.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (100%)
• Race & ethnicity: White 100%
• Common ancestry: Italian 2%
• Foreign-born: 0%

Political lean MEDSL · Spencer

• 2024 margin: Solid R (+43.3) · D 27.4% · R 70.6% · Other 2.0%
• 2008→2024 swing: -43.6pp toward R · 2008: 0.4pp · 2024: -43.3pp
• All cycles: 2024: R+43.3 2020: R+38.5 2016: R+37.3 2012: R+15.3 2008: D+0.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.92%
• Current HPI: 213.6886
• 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

+520.0% since first listed

7 events — show timeline

• 2026-05-08 Listed $124,000 IRMLS
• 2022-09-07 Sold (MLS) $90,000 IRMLS
• 2022-08-05 Pending — IRMLS
• 2022-07-13 Listed $99,000 IRMLS
• 2017-06-07 Sold (MLS) $40,000 IRMLS
• 2017-04-09 Listed $47,500 IRMLS
• 2009-03-17 Sold (Public Records) $20,000 Public Records

Property tax history

+27.5%/yr

Latest (2024): $216 · +3.9% YoY. Source: county tax records.