705 E 4th St #66 · Rochester, IN 46975

$55,000

3 bd · 2.0 ba · 1,216 sqft · Manufactured · 69 Days on market

Manufactured home Built 2026 Good condition $45/sqft · 37% below area Est $88k · 37% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.0/10.0
• Condition / age +4.0/5.0
• Livability +3.5/5.0
• Appreciation +2.5/10.0
• Rent growth +2.5/5.0
• Manufactured-home adj. -6.5

Listing remarks

Your brand new 3 bedroom, 2 bathroom home is waiting for you to move in! This comfortable home features premium entry doors, a modern bathroom, as well as new brand name appliances. In the community, enjoy with your friends and family all the amenities we have to offer such as community events, , and . This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

Key facts

• Built 2026
• Listed 68 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $55k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $332 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($902 rent vs $55k).
• Recommended offer: $52k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.5% vs local median 3.3% in Rochester — 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 69/100 on livability (#206 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: employment D, amenities F, commute F.
• Rochester Community School Corporation (town): math 31% / reading 41% proficiency, ranked #188 of 301 in IN (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: George M Riddle Elementary School (math 37% / reading 34%, grade F, #584 of 994 statewide, top 59%, 364 students, 58% FRL); Rochester Community Middle School (math 28% / reading 42%, grade F, #164 of 330 statewide, top 50%, 317 students, 58% FRL); Rochester Community High School (math 27% / reading 62%, grade F, #169 of 369 statewide, top 51%, 610 students, 57% FRL) — zoned schools average 58% FRL vs 41% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 146 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 1d on market — plan ~1-2 weeks tenant-placement turnaround); 23 units permitted in Fulton County in 2024 (0 in 5+ unit buildings).
• This rent is only 18% of the median local income ($61k/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 $380 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Fulton County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($52k) is reasonable based on typical stale-listing flexibility.

Recommended offer $51,700 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
6. 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.
7. 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: 1.64% ✓
• Cap rate: 13.55%
• Cash-on-cash: 25.91%
• DSCR: 2.15
• GRM: 5.1

CMA / ARV

• ARV (median comp): $87,785
• List price: $55,000
• Delta: -37.35%
• 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
314 Clayton St	0.14mi	3/1.0	1,292 (+6%)	2mo	$140,000	$108	77
618 W 12 th St	1.15mi	3/1.0	1,242 (+2%)	3mo	$180,000	$145	55
1100 Rochester Blvd	0.64mi	3/1.0	1,300 (+7%)	0mo	$175,000	$135	54
114 E 3rd St	0.54mi	3/2.0	1,060 (-13%)	1mo	$117,000	$110	53
1567 Elizabeth Ave	1.42mi	3/1.0	1,154 (-5%)	4mo	$95,000	$82	49
1200 College Ave	0.63mi	2/1.0 (-1)	1,128 (-7%)	1mo	$152,000	$135	49
1214 Jackson Blvd	0.67mi	3/1.0	1,092 (-10%)	3mo	$159,900	$146	45
1119 Rochester Blvd	0.65mi	3/2.0	1,040 (-14%)	3mo	$215,000	$207	43
730 Sweetgum Rd	1.36mi	3/1.0	1,092 (-10%)	4mo	$204,000	$187	40
523 Fulton Ave	0.78mi	3/1.5	1,391 (+14%)	1mo	$135,000	$97	38
937 W 8th St	1.30mi	3/1.5	1,444 (+19%)	3mo	$262,000	$181	35
1509 Sunset Dr	1.11mi	3/1.0	988 (-19%)	3mo	$155,000	$157	33

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 19.6%
• Equity multiple: 1.80×
• Total profit: $12,277
• Equity at exit: $8,201

10-year hold

• IRR: 27.9%
• Equity multiple: 3.47×
• Total profit: $38,012
• Equity at exit: $4,755

Cash invested: $15,400 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 7 active · 1 under contract
• Months of supply: 42.0 mo (2%/mo absorbed)
• Median asking: $52,500 ($48/sqft)
• Median days on market: 69 d
• This list price: 100% of active listings are priced below it
• ARV vs active asking: +51.1% above current asking $/sqft

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

ZIP-level market 46975

• Home prices YoY: -28.7%
• Active inventory: 146
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $902 high
• Mortgage (P&I): −$288
• Tax est. 1.5%: −$69 /mo · $825/yr
• Insurance: −$23
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$189
• Net cashflow: $332

Break-even live

Break-even rent $481

Max offer price $55,000

Occupancy floor 58%

Sensitivity live

Price	-10% $370	-5% $351	+0% $332	+5% $313	+10% $294
Rent	-10% $261	-5% $297	+0% $332	+5% $368	+10% $404
Rate	-1.0pp $360	-0.5pp $346	base $332	+0.5pp $318	+1.0pp $304

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: $13,750
• Closing costs: $1,650
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
513 Main St Rochester, IN	2.0	1.0	1200	$1,200	$1.00	110d	1	0.54mi
652 Northgate Cir Rochester, IN	2.0	1.0	700	$995	$1.42	0d	4	0.68mi
1707 Madison St Rochester, IN	2.0–3.0	1.0–1.5	1150	$1,395	$1.21	62d	3	1.14mi
1707 Madison St Rochester, IN	2.0	1.0	1000	$995	$0.99	0d	1	1.14mi
1210 Park Rd Rochester, IN	2.0	2.0	1282	$1,195	$0.93	0d	1	1.22mi
421 Westwood Ln Rochester, IN	2.0	1.0	657	$910	$1.38	0d	1	1.28mi

Property features AI

Finance

• Other: Living area approximately 1,216 square feet
• Financial info: List price $55,000

Exterior

• Utilities: Natural gas availableCentral air conditioning
• Home design: Spec home, Plan 92225
• Exterior features: Located at 705 E 4th St #66, Rochester, IN 46975

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heatingCentral air conditioning
• Interior features: Active status listing (as of Jun 11, 2026)

Listing history 50 events

1. 2026-08-19
   days on market $55,000 Active 69 DOM
2. 2026-08-18
   days on market $55,000 Active 68 DOM
3. 2026-08-17
   days on market $55,000 Active 67 DOM
4. 2026-08-16
   days on market $55,000 Active 66 DOM
5. 2026-08-15
   days on market $55,000 Active 65 DOM
6. 2026-08-15
   days on market $55,000 Active 64 DOM
7. 2026-08-13
   days on market $55,000 Active 63 DOM
8. 2026-08-12
   days on market $55,000 Active 62 DOM
9. 2026-08-11
   days on market $55,000 Active 61 DOM
10. 2026-08-10
    days on market $55,000 Active 60 DOM
11. 2026-08-09
    days on market $55,000 Active 59 DOM
12. 2026-08-08
    days on market $55,000 Active 58 DOM
13. 2026-08-07
    days on market $55,000 Active 57 DOM
14. 2026-08-06
    days on market $55,000 Active 56 DOM
15. 2026-08-05
    days on market $55,000 Active 55 DOM
16. 2026-08-04
    days on market $55,000 Active 54 DOM
17. 2026-08-03
    days on market $55,000 Active 53 DOM
18. 2026-07-31
    days on market $55,000 Active 50 DOM
19. 2026-07-30
    days on market $55,000 Active 49 DOM
20. 2026-07-29
    days on market $55,000 Active 48 DOM
21. 2026-07-27
    days on market $55,000 Active 46 DOM
22. 2026-07-25
    days on market $55,000 Active 44 DOM
23. 2026-07-23
    days on market $55,000 Active 42 DOM
24. 2026-07-22
    days on market $55,000 Active 41 DOM
25. 2026-07-21
    days on market $55,000 Active 40 DOM
26. 2026-07-18
    days on market $55,000 Active 37 DOM
27. 2026-07-16
    days on market $55,000 Active 35 DOM
28. 2026-07-16
    days on market $55,000 Active 34 DOM
29. 2026-07-14
    days on market $55,000 Active 33 DOM
30. 2026-07-13
    days on market $55,000 Active 32 DOM
31. 2026-07-12
    days on market $55,000 Active 31 DOM
32. 2026-07-11
    days on market $55,000 Active 30 DOM
33. 2026-07-10
    days on market $55,000 Active 29 DOM
34. 2026-07-09
    days on market $55,000 Active 28 DOM
35. 2026-07-07
    days on market $55,000 Active 26 DOM
36. 2026-07-06
    days on market $55,000 Active 25 DOM
37. 2026-07-05
    days on market $55,000 Active 24 DOM
38. 2026-07-04
    days on market $55,000 Active 23 DOM
39. 2026-07-03
    days on market $55,000 Active 22 DOM
40. 2026-07-02
    days on market $55,000 Active 21 DOM
41. 2026-07-01
    days on market $55,000 Active 20 DOM
42. 2026-06-30
    days on market $55,000 Active 19 DOM
43. 2026-06-29
    days on market $55,000 Active 18 DOM
44. 2026-06-28
    days on market $55,000 Active 17 DOM
45. 2026-06-28
    days on market $55,000 Active 16 DOM
46. 2026-06-27
    days on market $55,000 Active 15 DOM
47. 2026-06-25
    days on market $55,000 Active 13 DOM
48. 2026-06-23
    days on market $55,000 Active 11 DOM
49. 2026-06-22
    days on market $55,000 Active 10 DOM
50. 2026-06-18
    days on market $55,000 Active 7 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: $10,824
• − Mortgage interest: −$3,081
• − Property taxes: −$825
• − Insurance: −$275
• − Repairs & maintenance: −$866
• − Management: −$866
• − Depreciation: −$1,600
• Taxable income: $3,311
• Est. tax owed @ 24.0%: −$795
• After-tax cash flow: $3,195/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.

Condition & rehab AI · 4 photos

Good 80/100 Cosmetic rehab Est. rehab $6,080–$18,240 screening

This brand new 3-bedroom, 2-bathroom home is move-in ready with premium entry doors and modern bathrooms. The exterior and interior are in good condition, and the home is located in a community with various amenities.

Value-add opportunities

• Both Painting the exterior siding — Fresh paint can enhance the curb appeal and make the home look more inviting. ↑
• Both Landscaping improvements — Well-maintained landscaping can increase the home's value and make it more attractive to potential buyers or renters. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 40/100

Zoned Schools

Elementary Columbia Elementary School Middle Rochester Community Middle School F IN #164/330 Nat'l #7,460/14,009 High Rochester Community High School F IN #169/369 Nat'l #6,890/17,239

Schools (NCES district)

• District: Rochester Community School Corporation
• NCES district ID: 1809630
• Math proficiency: 31% ▼ -4.00%
• Reading proficiency: 41% ▲ 2.00%
• Median HH income: $42,645
• Composite: 30.44/100
• National rank: #6231
• State rank: #188 of 301 in IN

C Composite livability gradescore 69/100

Livability — Rochester

• Score: 69/100
• State rank: #206
• US rank: #9060

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rochester, IN
• County: Fulton County · 19,537 people
• City population: 13,824
• Metro: nan
• Population (ZIP): 13,824
• Household income: $61,185
• Rent vs Own: 21.3% rent · 78.7% own
• Severe rent burden: 10% of renters

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Population outlook (Fulton County) Hauer SSP2

• Today (2025): 19,537 people
• By 2030: 19,013 · -2.7%
• By 2040: 17,959 · -8.1%
• By 2050: 17,038 · -12.8%
• By 2075: 15,117 · -22.6%
• By 2100: 13,179 · -32.5%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Iranian 2% Scottish 2% Lithuanian 2%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · German/W. Germanic 2% Spanish 1%

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Political lean MEDSL · Fulton

• 2024 margin: Solid R (+51.2) · D 23.7% · R 74.9% · Other 1.4%
• 2008→2024 swing: -35.2pp toward R · 2008: -16.0pp · 2024: -51.2pp
• All cycles: 2024: R+51.2 2020: R+48.2 2016: R+48.4 2012: R+33.2 2008: R+16.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -85.72%
• Current HPI: 212.9033
• Rent YoY: —
• Metro: nan
• 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

• Other: Living area approximately 1,216 square feet
• Financial info: List price $55,000

Exterior

• Utilities: Natural gas availableCentral air conditioning
• Home design: Spec home, Plan 92225
• Exterior features: Located at 705 E 4th St #66, Rochester, IN 46975

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heatingCentral air conditioning
• Interior features: Active status listing (as of Jun 11, 2026)