210 Rainbow Dr #5 · Burns Harbor, IN 46304

$69,000

3 bd · 2.0 ba · 1,216 sqft · Manufactured · 51 Days on market

Built 2026 Good condition

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Condition / age +4.0/5.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this beautifully designed 16' x 76' Clayton Harborview home, offering 3 spacious bedrooms and 2 full bathrooms with a bright, open-concept layout perfect for everyday living. This brand-new home features a thoughtfully designed floor plan with a large living area that flows seamlessly into the kitchen and dining space-ideal for entertaining or spending time with family. The kitchen comes equipped with modern cabinetry, ample counter space, and energy-efficient appliances, making both cooking and gathering effortless. The private primary suite includes a generous bedroom, walk-in closet, and a full ensuite bathroom, creating a comfortable retreat at the end of the day. Two additio

Key facts

• Large living area
• Modern cabinetry
• Walk-in closet

Tags

• OPEN-CONCEPT LAYOUT
• LARGE LIVING AREA
• MODERN CABINETRY
• ENERGY-EFFICIENT APPLIANCES
• WALK-IN CLOSET
• FULL ENSUITE BATHROOM

Property features AI

Finance

• Other: Living area approximately 1,216; Address: 210 Rainbow Dr #5, Burns Harbor, IN 46304
• Financial info: List price $76,000

Exterior

• Utilities: Natural gas heating; Central air conditioning
• Home design: 16x76 Clayton Harborview manufactured home (Spec); Single-story
• Construction: Manufactured home
• Exterior features: Asphalt roof

Interior

• Kitchen: Includes dishwasher and refrigerator
• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas forced air heating; Central air conditioning
• Interior features: Dishwasher; Refrigerator

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $69k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $833 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $69k).
• Recommended offer: $67k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 73/100 on livability (#94 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: schools D-, amenities F, commute F.
• Duneland School Corporation (suburban): math 53% / reading 53% proficiency, ranked #30 of 301 in IN (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 222 active listings in the ZIP; solid renter incomes; 542 units permitted in Porter County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $477 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Porter County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($67k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $66,930 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 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: 2.40% ✓
• Cap rate: 20.79%
• Cash-on-cash: 51.77%
• DSCR: 3.30
• GRM: 3.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 49.7%
• Equity multiple: 3.17×
• Total profit: $41,928
• Equity at exit: $10,288

10-year hold

• IRR: 55.2%
• Equity multiple: 6.43×
• Total profit: $104,966
• Equity at exit: $5,966

Cash invested: $19,320 (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 46304

• Active inventory: 222
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,659 medium
• Mortgage (P&I): −$362
• Tax est. 1.5%: −$86 /mo · $1,035/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$348
• Net cashflow: $833

Break-even live

Break-even rent $604

Max offer price $69,000

Occupancy floor 45%

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $69,000 Active 51 DOM
2. 2026-06-17
   days on market $69,000 Active 50 DOM
3. 2026-06-16
   days on market $69,000 Active 49 DOM
4. 2026-06-15
   days on market $69,000 Active 48 DOM
5. 2026-06-13
   days on market $69,000 Active 46 DOM
6. 2026-06-13
   days on market $69,000 Active 45 DOM
7. 2026-06-09
   days on market $69,000 Active 42 DOM
8. 2026-06-08
   days on market $69,000 Active 41 DOM
9. 2026-06-07
   days on market $69,000 Active 40 DOM
10. 2026-06-04
    days on market $69,000 Active 37 DOM
11. 2026-06-03
    days on market $69,000 Active 36 DOM
12. 2026-06-02
    days on market $69,000 Active 35 DOM
13. 2026-06-01
    days on market $69,000 Active 34 DOM
14. 2026-05-31
    days on market $69,000 Active 33 DOM
15. 2026-05-01
    price $69,000 1256-char remark
16. 2026-04-28
    listed $76,000 Active 1256-char remark

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 68% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥100°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,903
• − Mortgage interest: −$3,865
• − Property taxes: −$1,035
• − Insurance: −$345
• − Repairs & maintenance: −$1,592
• − Management: −$1,592
• − Depreciation: −$2,007
• Taxable income: $9,467
• Est. tax owed @ 24.0%: −$2,272
• After-tax cash flow: $7,730/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.

Condition & rehab AI · 1 photo

Good 80/100 None rehab

This beautifully designed Clayton Harborview manufactured home is in excellent condition with no visible repairs needed. It offers a spacious floor plan, modern amenities, and a well-maintained exterior, making it an ideal move-in-ready property.

Value-add opportunities

• Both Landscaping improvements — Enhances curb appeal and adds value.
• Both Interior paint touch-ups — Fresh paint can make the home feel new and inviting.
• Both Add a smart home system — Improves convenience and adds modern features that appeal to buyers and renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping improvements — Enhances curb appeal and adds value. ↑
• Both Interior paint touch-ups — Fresh paint can make the home feel new and inviting. ↑
• Both Add a smart home system — Improves convenience and adds modern features that appeal to buyers and renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Duneland School Corporation
• NCES district ID: 1802800
• Math proficiency: 53% ▼ -4.00%
• Reading proficiency: 53% ▼ -1.00%
• Median HH income: $70,498
• Composite: 47.24/100
• National rank: #2310
• State rank: #30 of 301 in IN

Livability — Burns Harbor

• Score: 73/100
• State rank: #94
• US rank: #5352

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Burns Harbor, IN
• County: Porter County · 151,647 people
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 28,307
• Household income: $91,326
• Rent vs Own: 20.6% rent · 79.4% own
• Severe rent burden: 409.0

Population outlook (Porter County) Hauer SSP2

• Today (2025): 177,804 people
• By 2030: 181,552 · +2.1%
• By 2040: 185,830 · +4.5%
• By 2050: 187,498 · +5.5%
• By 2075: 189,585 · +6.6%
• By 2100: 183,722 · +3.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Hispanic / Latino 10% Two or more races 7% Black 2% Asian 2%
• Hispanic origin (detail): Mexican 7% Puerto Rican 2%
• Common ancestry: Romanian 8% Italian 3% Iranian 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 94% English-only · Spanish 3% Russian/Polish/Slavic 1% Other Asian/Pacific 1%

Political lean MEDSL · Porter

• 2024 margin: R (+10.5) · D 43.8% · R 54.3% · Other 1.8%
• 2008→2024 swing: -17.7pp toward R · 2008: 7.2pp · 2024: -10.5pp
• All cycles: 2024: R+10.5 2020: R+6.1 2016: R+6.8 2012: D+3.8 2008: D+7.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -150.59%
• Current HPI: 178.7691
• Rent YoY: —
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• 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