Clayton 731 Parke Place Plan · Elkhart, IN 46514

$134,121

3 bd · 2.0 ba · 1,364 sqft · Manufactured · 174 Days on market

Manufactured home Excellent condition

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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).

• ARV discount +7.5/15.0
• Cash flow +6.0/30.0
• Condition / age +4.8/5.0
• Rent growth +4.3/5.0
• Livability +3.4/5.0
• Appreciation +2.5/10.0
• Schools +2.5/10.0
• 1% rule +1.4/10.0
• DSCR +0.4/10.0
• Manufactured-home adj. -2.6

Listing remarks

Step into modern comfort with this brand-new 2025 Clayton manufactured home, where style meets effortless living. This spacious 3-bedroom, 2-bathroom layout is designed for those who want to skip the stress of moving day—it comes partially furnished with a cozy couch, essential decor, and a high-efficiency washer and dryer set. Every inch of this home reflects Clayton's commitment to quality, offering a bright, open-concept atmosphere that's ready for you to move right in and start making memories. The true highlight is the luxurious primary suite, featuring a spa-inspired bathroom that rivals a five-star retreat.

Key facts

• Listed 173 days

🏗️ New construction. The $134,121 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $176,829.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $134k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-335 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $128k (4.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $112k (16.2% below list).
• Recommended offer: $112k (16.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 68/100 on livability (#224 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, crime F, commute F.
• Elkhart Community Schools (urban): math 18% / reading 25% proficiency, ranked #271 of 301 in IN (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Osolo Elementary School (math 20% / reading 18%, grade F, #829 of 994 statewide, top 84%, 490 students, 76% FRL); North Side Middle School (math 15% / reading 31%, grade F, #263 of 330 statewide, top 80%, 627 students, 72% FRL).
• Market conditions: Rents rising fast (+7.0%/yr); 507 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 117d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 71% of comp listings sitting > 30 days — soft ceiling on asking rent; 484 units permitted in Elkhart County in 2024 (136 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Elkhart County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 174 days — a 12% lower offer ($118k) is reasonable based on typical stale-listing flexibility.

Recommended offer $112,328 (16.2% 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 174 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. Crime grade is F 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.64% ✗
• Cap rate: 4.02%
• Cash-on-cash: -8.11%
• DSCR: 0.64
• GRM: 13.1

CMA / ARV

• ARV (median comp): $176,829
• List price: $134,121
• Delta: -24.15%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1232 Cone St	1.38mi	3/1.0	1,296 (-5%)	3mo	$201,000	$155	50
1077 Greenleaf Blvd	1.50mi	2/2.0 (-1)	1,291 (-5%)	2mo	$190,000	$147	50
1077 Greenleaf Blvd #114	1.50mi	2/2.0 (-1)	1,291 (-5%)	2mo	$180,000	$139	49
903 Mcpherson St	1.43mi	3/2.0	1,488 (+9%)	3mo	$215,000	$144	47
1400 Grant St	1.08mi	3/1.0	1,506 (+10%)	2mo	$203,000	$135	42
1201 Greenleaf Blvd	1.42mi	3/2.0	1,687 (+24%)	0mo	$500,000	$296	40
53598 Hickory Ln	1.33mi	3/2.0	1,642 (+20%)	0mo	$320,000	$195	40
2021 Autumn Ridge Ln	0.54mi	2/1.0 (-1)	1,098 (-20%)	3mo	$199,000	$181	38
1430 Mcpherson St	0.99mi	3/2.0	1,158 (-15%)	3mo	$165,000	$142	38
2919 Calumet Ave	1.37mi	2/1.0 (-1)	1,208 (-11%)	2mo	$213,000	$176	36
1843 Grant St	0.95mi	3/1.0	1,079 (-21%)	1mo	$200,000	$185	35
3616 Naples Ct	1.49mi	4/2.0 (+1)	1,660 (+22%)	1mo	$290,000	$175	34

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

Projected returns pro-forma

-3.0% appreciation · 7.03% rent growth · sell at horizon

5-year hold

• IRR: -26.2%
• Equity multiple: 0.09×
• Total profit: $-45,211
• Equity at exit: $26,366

10-year hold

• IRR: -13.6%
• Equity multiple: 0.08×
• Total profit: $-45,610
• Equity at exit: $15,289

Cash invested: $49,512 (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 →

Active competition Active MLS

• For sale now: 59 active
• Median asking: $128,400 ($91/sqft)
• Median days on market: 62 d
• This list price: 64% of active listings are priced below it
• ARV vs active asking: +42.4% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 46514

• Rents YoY: 7.0%
• Active inventory: 507
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,123 high
• Mortgage (P&I): −$927
• Tax est. 1.5%: −$221 /mo · $2,652/yr
• Insurance: −$74
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$236
• Net cashflow: $-335

Break-even live

Break-even rent $1,547

Max offer price $128,407

Occupancy floor —

Sensitivity live

Price	-10% $-212	-5% $-274	+0% $-335	+5% $-396	+10% $-457
Rent	-10% $-423	-5% $-379	+0% $-335	+5% $-290	+10% $-246
Rate	-1.0pp $-246	-0.5pp $-290	base $-335	+0.5pp $-380	+1.0pp $-427

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: $44,207
• Closing costs: $5,305
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1875 Osolo Rd Elkhart, IN	1.0–3.0	1.0–2.0	948	$1,000	$1.05	117d	1	0.29mi
2001 Sugar Maple Ln Elkhart, IN	1.0–2.0	1.0–2.0	923	$1,445	$1.56	0d	39	0.36mi
2002 Raintree Dr Elkhart, IN	2.0	1.5	1034	$1,479	$1.43	117d	2	0.62mi
2002 Raintree Dr Unit 2103-1 Elkhart, IN	2.0	1.5	1034	$1,609	$1.56	6d	1	0.63mi
2304 Grant St Elkhart, IN	4.0	2.0	1450	$1,800	$1.24	139d	1	1.02mi
1120 Worthmore Ave Elkhart, IN	2.0	1.0	987	$1,700	$1.72	117d	1	1.26mi
1301 Cone St Elkhart, IN	2.0	1.0	888	$1,100	$1.24	139d	1	1.35mi

Property features AI

Finance

• Financial info: List price $134,121

Exterior

• Utilities: Natural gasElectricity for central air
• Home design: New construction planAddress: Clayton 731 Parke Place, Elkhart, IN
• Construction: Living area approximately 1364Plan model: Clayton 731 Parke Place
• Exterior features: Shake roof

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 bathrooms (full)
• Heating & cooling: Natural gas heatingCentral air conditioning
• Interior features: Plan: Clayton 731 Parke Place

Listing history 50 events

1. 2026-09-24
   days on market $134,121 Active 174 DOM
2. 2026-09-24
   days on market $134,121 Active 173 DOM
3. 2026-09-22
   days on market $134,121 Active 172 DOM
4. 2026-09-20
   days on market $134,121 Active 170 DOM
5. 2026-09-18
   days on market $134,121 Active 168 DOM
6. 2026-09-17
   days on market $134,121 Active 167 DOM
7. 2026-09-16
   days on market $134,121 Active 166 DOM
8. 2026-09-15
   days on market $134,121 Active 165 DOM
9. 2026-09-14
   days on market $134,121 Active 164 DOM
10. 2026-09-13
    days on market $134,121 Active 163 DOM
11. 2026-09-12
    days on market $134,121 Active 162 DOM
12. 2026-09-11
    days on market $134,121 Active 161 DOM
13. 2026-09-05
    days on market $134,121 Active 155 DOM
14. 2026-09-04
    days on market $134,121 Active 154 DOM
15. 2026-09-03
    days on market $134,121 Active 153 DOM
16. 2026-08-31
    days on market $134,121 Active 150 DOM
17. 2026-08-30
    days on market $134,121 Active 149 DOM
18. 2026-08-29
    days on market $134,121 Active 148 DOM
19. 2026-08-28
    days on market $134,121 Active 147 DOM
20. 2026-08-27
    days on market $134,121 Active 146 DOM
21. 2026-08-25
    days on market $134,121 Active 144 DOM
22. 2026-08-24
    days on market $134,121 Active 143 DOM
23. 2026-08-23
    days on market $134,121 Active 142 DOM
24. 2026-08-22
    days on market $134,121 Active 141 DOM
25. 2026-08-21
    days on market $134,121 Active 140 DOM
26. 2026-08-20
    days on market $134,121 Active 139 DOM
27. 2026-08-19
    days on market $134,121 Active 138 DOM
28. 2026-08-18
    days on market $134,121 Active 137 DOM
29. 2026-08-17
    days on market $134,121 Active 136 DOM
30. 2026-08-16
    days on market $134,121 Active 135 DOM
31. 2026-08-15
    days on market $134,121 Active 134 DOM
32. 2026-08-15
    days on market $134,121 Active 133 DOM
33. 2026-08-13
    days on market $134,121 Active 132 DOM
34. 2026-08-12
    days on market $134,121 Active 131 DOM
35. 2026-08-11
    days on market $134,121 Active 130 DOM
36. 2026-08-10
    days on market $134,121 Active 129 DOM
37. 2026-08-09
    days on market $134,121 Active 128 DOM
38. 2026-08-08
    days on market $134,121 Active 127 DOM
39. 2026-08-07
    days on market $134,121 Active 126 DOM
40. 2026-08-06
    days on market $134,121 Active 125 DOM
41. 2026-08-05
    days on market $134,121 Active 124 DOM
42. 2026-08-04
    days on market $134,121 Active 123 DOM
43. 2026-08-03
    days on market $134,121 Active 122 DOM
44. 2026-07-31
    days on market $134,121 Active 119 DOM
45. 2026-07-30
    days on market $134,121 Active 118 DOM
46. 2026-07-29
    days on market $134,121 Active 117 DOM
47. 2026-07-27
    days on market $134,121 Active 115 DOM
48. 2026-07-25
    days on market $134,121 Active 113 DOM
49. 2026-07-23
    days on market $134,121 Active 111 DOM
50. 2026-07-22
    days on market $134,121 Active 110 DOM

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

Taxation est. · year 1

• Rental income: $13,479
• − Mortgage interest: −$9,905
• − Property taxes: −$2,652
• − Insurance: −$884
• − Repairs & maintenance: −$1,078
• − Management: −$1,078
• − Depreciation: −$5,144
• Taxable loss: −$7,263
• Est. tax savings @ 24.0%: +$1,743
• After-tax cash flow: $-2,272/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 · 12 photos

Excellent 95/100 None rehab

This brand-new Clayton manufactured home is in excellent condition with no visible repairs needed. It offers a modern and comfortable living space with a luxurious primary suite and a well-maintained exterior. Potential buyers and renters will appreciate the home's curb appeal and smart home features.

Value-add opportunities

• Both Landscaping improvements — Enhances curb appeal and adds value ↑
• Both Painting exterior — Fresh paint can make a home look more appealing ↑
• Resale Upgrade to kitchen appliances — Modern appliances can attract more buyers ↑
• Both Install smart home features — Enhances comfort and can increase property value ↑

F Composite school gradezoned avg 25/100

Zoned Schools

Elementary Osolo Elementary School F IN #829/994 Nat'l #34,564/41,679 Middle North Side Middle School F IN #263/330 Nat'l #11,007/14,009 High Elkhart High School F IN #285/369 Nat'l #10,121/17,239

Schools (NCES district)

• District: Elkhart Community Schools
• NCES district ID: 1803270
• Math proficiency: 18% ▼ -12.00%
• Reading proficiency: 25% ▼ -9.00%
• Median HH income: $42,881
• Composite: 18.45/100
• National rank: #8928
• State rank: #271 of 301 in IN

C Composite livability gradescore 68/100

Livability — Elkhart

• Score: 68/100
• State rank: #224
• US rank: #9852

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elkhart, IN
• County: Elkhart County · 213,761 people
• City population: 74,260
• Metro: Elkhart-Goshen, IN
• Population (ZIP): 42,389
• Household income: $65,833
• Rent vs Own: 28.0% rent · 72.0% own
• Severe rent burden: 8% of renters

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Population outlook (Elkhart County) Hauer SSP2

• Today (2025): 213,761 people
• By 2030: 218,103 · +2.0%
• By 2040: 225,381 · +5.4%
• By 2050: 229,447 · +7.3%
• By 2075: 232,856 · +8.9%
• By 2100: 214,088 · +0.2%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 14% Two or more races 6% Black 5% Asian 1%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Lithuanian 2% Romanian 2% Italian 2%
• Foreign-born: 8% · Canada
• Languages at home: 89% English-only · Spanish 10%

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Political lean MEDSL · Elkhart

• 2024 margin: Solid R (+32.4) · D 33.1% · R 65.5% · Other 1.4%
• 2008→2024 swing: -21.2pp toward R · 2008: -11.2pp · 2024: -32.4pp
• All cycles: 2024: R+32.4 2020: R+28.1 2016: R+32.4 2012: R+26.5 2008: R+11.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -246.78%
• Current HPI: 225.6
• Rent YoY: ▲ 7.03%
• Metro: Elkhart-Goshen, IN
• State GDP YoY: ▲ 2.90%
• F500 in state: 18

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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

Property features AI

Finance

• Financial info: List price $134,121

Exterior

• Utilities: Natural gasElectricity for central air
• Home design: New construction planAddress: Clayton 731 Parke Place, Elkhart, IN
• Construction: Living area approximately 1364Plan model: Clayton 731 Parke Place
• Exterior features: Shake roof

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 bathrooms (full)
• Heating & cooling: Natural gas heatingCentral air conditioning
• Interior features: Plan: Clayton 731 Parke Place