Pinnacle (Indian Oaks) Plan · Sellersburg, IN 47172

$111,995

5 bd · 3.0 ba · 2,027 sqft · Manufactured · 238 Days on market

Poor condition $560/mo HOA · 28% of rent

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Why this score? — see what drove the C+ 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 +24.8/30.0
• 1% rule +10.0/10.0
• DSCR +8.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located just off the Salem exit of I-65 on the outskirts of Sellersburg, Indian Oaks Pointe is a community with lots of trees, character and charm that is just minutes from shopping, employment and schools Community Amenities Basketball Court, Clubhouse, and Playground Schools Silver Creek Elementary School, Silver Creek Middle School, and Silver Creek High School

Key facts

• Listed 237 days

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath manufactured listed at $112k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $236 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $112k).
• Recommended offer: $99k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 3.9% in Sellersburg — 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 73/100 on livability (#85 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: schools D+, commute D+, health & safety D+.
• Market conditions: 149 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $774 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.

Negotiation context

• It's been on market 238 days — a 12% lower offer ($99k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 28% of rent.

Recommended offer $98,555 (12.0% below list)

Questions for the listing agent

1. It's been on market 238 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.77% ✓
• Cap rate: 8.83%
• Cash-on-cash: 9.05%
• DSCR: 1.40
• GRM: 4.7

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: -2.3%
• Equity multiple: 0.91×
• Total profit: $-2,713
• Equity at exit: $16,699

10-year hold

• IRR: 7.7%
• Equity multiple: 1.59×
• Total profit: $18,551
• Equity at exit: $9,683

Cash invested: $31,359 (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 47172

• Active inventory: 149
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,988 medium
• Mortgage (P&I): −$587
• Tax est. 1.5%: −$140 /mo · $1,680/yr
• Insurance: −$47
• HOA: −$560
• Vacancy / Maint / Mgmt: −$417
• Net cashflow: $236

Break-even live

Break-even rent $1,689

Max offer price $111,995

Occupancy floor 83%

Sensitivity live

Price	-10% $314	-5% $275	+0% $236	+5% $198	+10% $159
Rent	-10% $79	-5% $158	+0% $236	+5% $315	+10% $394
Rate	-1.0pp $293	-0.5pp $265	base $236	+0.5pp $207	+1.0pp $178

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: $27,999
• Closing costs: $3,360
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2806 Winchester Dr Sellersburg, IN	4.0	2.0	2390	$2,365	$0.99	3d	1	1.37mi

HOA detail

• Monthly dues: $560 · $6,720/yr

Listing history 15 events

1. 2026-06-21
   days on market $111,995 Active 238 DOM
2. 2026-06-18
   days on market $111,995 Active 235 DOM
3. 2026-06-17
   days on market $111,995 Active 234 DOM
4. 2026-06-16
   days on market $111,995 Active 233 DOM
5. 2026-06-15
   days on market $111,995 Active 232 DOM
6. 2026-06-13
   days on market $111,995 Active 230 DOM
7. 2026-06-10
   days on market $111,995 Active 227 DOM
8. 2026-06-09
   days on market $111,995 Active 226 DOM
9. 2026-06-08
   days on market $111,995 Active 225 DOM
10. 2026-06-07
    days on market $111,995 Active 224 DOM
11. 2026-06-03
    days on market $111,995 Active 220 DOM
12. 2026-06-02
    days on market $111,995 Active 219 DOM
13. 2026-06-01
    days on market $111,995 Active 218 DOM
14. 2026-05-31
    days on market $111,995 Active 217 DOM
15. 2025-10-26
    listed $111,995 Active 368-char remark

    Show marketing remark (368 chars)

    Located just off the Salem exit of I-65 on the outskirts of Sellersburg, Indian Oaks Pointe is a community with lots of trees, character and charm that is just minutes from shopping, employment and schools Community Amenities Basketball Court, Clubhouse, and Playground Schools Silver Creek Elementary School, Silver Creek Middle School, and Silver Creek High School

ⓘ 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: $23,855
• − Mortgage interest: −$6,273
• − Property taxes: −$1,680
• − Insurance: −$560
• − Repairs & maintenance: −$1,908
• − Management: −$1,908
• − HOA: −$6,720
• − Depreciation: −$3,258
• Taxable income: $1,547
• Est. tax owed @ 24.0%: −$371
• After-tax cash flow: $2,466/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

Poor 20/100 Extensive rehab

This manufactured home requires extensive repairs and updates across all systems and areas, significantly impacting its current condition and value. Significant investment is needed to bring it up to a livable and marketable standard.

Repairs flagged

• Major Kitchen — No photos of kitchen
• Major Bathrooms — No photos of bathrooms
• Major Roof — No photos of roof
• Major Exterior — No photos of exterior
• Major Flooring — No photos of flooring
• Major Interior walls/paint — No photos of interior walls/paint
• Major Windows — No photos of windows
• Major Foundation/structure — No photos of foundation/structure
• Major HVAC/mechanicals — No photos of HVAC/mechanicals
• Major Landscaping/curb appeal — No photos of landscaping/curb appeal

Value-add opportunities

• Resale Kitchen renovation — A modern kitchen can significantly increase the home's appeal and value.
• Resale Bathroom renovation — Upgraded bathrooms are a major selling point for potential buyers.
• Resale Roof replacement — A new roof is a critical component that can add significant value.
• Both Exterior painting and landscaping — A fresh coat of paint and well-maintained landscaping can enhance curb appeal and rental value.
• Both HVAC system upgrade — A modern HVAC system improves comfort and energy efficiency, benefiting both resale and rental markets.
• Both Structural repairs — Addressing structural issues ensures the home's safety and longevity, benefiting both resale and rental markets.
• Both Interior updates — Fresh paint, new flooring, and updated fixtures can make the interior more inviting and appealing to potential buyers and renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen · No photos of kitchen	Major	$15,000–50,000
Bathrooms · No photos of bathrooms	Major	$15,000–50,000
Roof · No photos of roof	Major	$15,000–50,000
Exterior · No photos of exterior	Major	$15,000–50,000
Flooring · No photos of flooring	Major	$15,000–50,000
Interior walls/paint · No photos of interior walls/paint	Major	$15,000–50,000
Windows · No photos of windows	Major	$15,000–50,000
Foundation/structure · No photos of foundation/structure	Major	$15,000–50,000
HVAC/mechanicals · No photos of HVAC/mechanicals	Major	$15,000–50,000
Landscaping/curb appeal · No photos of landscaping/curb appeal	Major	$15,000–50,000
Total estimated repair cost · 10 items		$150,000–500,000

Value-add ROI direction

• Resale Kitchen renovation — A modern kitchen can significantly increase the home's appeal and value. ↑
• Resale Bathroom renovation — Upgraded bathrooms are a major selling point for potential buyers. ↑
• Resale Roof replacement — A new roof is a critical component that can add significant value. ↑
• Both Exterior painting and landscaping — A fresh coat of paint and well-maintained landscaping can enhance curb appeal and rental value. ↑
• Both HVAC system upgrade — A modern HVAC system improves comfort and energy efficiency, benefiting both resale and rental markets. ↑
• Both Structural repairs — Addressing structural issues ensures the home's safety and longevity, benefiting both resale and rental markets. ↑
• Both Interior updates — Fresh paint, new flooring, and updated fixtures can make the interior more inviting and appealing to potential 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)

No district data.

Livability — Sellersburg

• Score: 73/100
• State rank: #85
• US rank: #5005

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sellersburg, IN
• County: Clark County · 108,879 people
• City population: 21,045
• Metro: Louisville/Jefferson County, KY-IN
• Population (ZIP): 21,045
• Household income: $82,503
• Rent vs Own: 17.1% rent · 82.9% own
• Severe rent burden: 250.0

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 (90%)
• Race & ethnicity: White 90% Two or more races 7% Hispanic / Latino 3% Asian 2%
• Common ancestry: Romanian 2% Slovak 2% Italian 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2% Vietnamese 1% Other Indo-European 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: ▼ -114.50%
• Current HPI: 173.6209
• 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

1 event — show timeline

• 2025-10-26 Listed $111,995 Zillow