Clayton C240 Camelot Village Plan · Anderson, IN 46013

$109,900

3 bd · 2.0 ba · 1,216 sqft · Manufactured · 9 Days on market

Good condition

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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 +23.5/30.0
• DSCR +7.6/10.0
• ARV discount +7.5/15.0
• 1% rule +6.1/10.0
• Condition / age +4.0/5.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks

Camelot Village is the perfect community for families who want a neat and comfortable place to call home. Centrally located with a variety of home styles at low prices and helpful property management team, you'll be sure to find the exact home that fits within your budget and lifestyle at Camelot Village. Located in Anderson Indiana, Camelot Village community offers a beautiful neighborhood for you to call home. Our communities are perfect for growing families and people who want to live in a calm and comfortable place. It's only a quick drive is the world-famous Children's Museum in Indianapolis, as well as Hoosier Park Racing & Casino, Wigwam Gym, the Anderson Museum of Art, and the

Key facts

• Near shopping
• Centrally located
• Near restaurants

Tags

• CENTRALLY LOCATED
• NEAR RESTAURANTS
• NEAR SHOPPING
• NEAR ENTERTAINMENT OPTIONS

Property features AI

Finance

• Other: Address listed as 1800 W 38th St, Anderson IN 46013; Status: Active
• Financial info: List price $109,900; Inventory type: Plan

Exterior

• Home design: Plan: Clayton C240 Camelot Village
• Construction: Living area approximately 1216
• Exterior features: Shake roof

Interior

• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: 2 total bathrooms; 3 bedrooms

🏗️ 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 3-bed/2.0-bath manufactured listed at $110k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $205 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Cap rate 8.5% vs local median 6.1% in Anderson — 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 60/100 on livability (#521 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools F, crime D-, amenities F.
• Anderson Community School Corporation (urban): math 15% / reading 23% proficiency, ranked #280 of 301 in IN (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 151 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); 184 units permitted in Madison County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $760 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Madison County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $109,900

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
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: 1.11% ✓
• Cap rate: 8.53%
• Cash-on-cash: 7.98%
• DSCR: 1.36
• GRM: 7.5

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: -4.1%
• Equity multiple: 0.85×
• Total profit: $-4,754
• Equity at exit: $16,386

10-year hold

• IRR: 5.6%
• Equity multiple: 1.41×
• Total profit: $12,721
• Equity at exit: $9,502

Cash invested: $30,772 (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 46013

• Home prices YoY: -26.9%
• Active inventory: 151
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,220 high
• Mortgage (P&I): −$576
• Tax est. 1.5%: −$137 /mo · $1,648/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $205

Break-even live

Break-even rent $961

Max offer price $109,900

Occupancy floor 78%

Sensitivity live

Price	-10% $281	-5% $243	+0% $205	+5% $167	+10% $129
Rent	-10% $108	-5% $156	+0% $205	+5% $253	+10% $301
Rate	-1.0pp $260	-0.5pp $233	base $205	+0.5pp $176	+1.0pp $147

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3815 Camelot Blvd Anderson, IN	3.0	2.0	1456	$1,179	$0.81	0d	2	0.05mi
2203 W 28th St Anderson, IN	3.0	1.0	1068	$1,000	$0.94	45d	1	0.93mi
2719 Dewey St Anderson, IN	2.0	1.0	877	$1,150	$1.31	45d	1	0.99mi
2613 Louise St Anderson, IN	2.0	1.0	1096	$950	$0.87	23d	1	1.11mi
2613 Louise St Anderson, IN	2.0	1.0	1096	$925	$0.84	0d	1	1.11mi
4325 S Madison Ave Anderson, IN	1.0–3.0	1.0–1.5	995	$1,330	$1.34	0d	5	1.23mi
2031 Costello Dr Anderson, IN	3.0	1.0	1014	$1,250	$1.23	0d	1	1.38mi
2705 Horton Dr Anderson, IN	3.0	1.0	936	$999	$1.07	0d	1	1.43mi

Listing history 7 events

1. 2026-06-21
   days on market $109,900 Active 9 DOM
2. 2026-06-18
   days on market $109,900 Active 6 DOM
3. 2026-06-17
   days on market $109,900 Active 5 DOM
4. 2026-06-16
   days on market $109,900 Active 4 DOM
5. 2026-06-15
   days on market $109,900 Active 3 DOM
6. 2026-06-13
   remarks 695-char remark
7. 2026-06-13
   listed $109,900 Active 1 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: $14,646
• − Mortgage interest: −$6,156
• − Property taxes: −$1,648
• − Insurance: −$550
• − Repairs & maintenance: −$1,172
• − Management: −$1,172
• − Depreciation: −$3,197
• Taxable income: $751
• Est. tax owed @ 24.0%: −$180
• After-tax cash flow: $2,276/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 · 7 photos

Good 80/100 Cosmetic rehab

This manufactured home is in good condition with a modern interior and well-maintained exterior. It is ready for a fresh coat of paint and some landscaping improvements to further enhance its curb appeal and value.

Value-add opportunities

• Both Painting the exterior siding — Fresh paint can enhance curb appeal and property value.
• Both Landscaping improvements — Enhanced landscaping can attract more potential buyers or renters.
• Resale Updating the kitchen backsplash — A fresh backsplash can make the kitchen more appealing to potential buyers.
• Both Adding smart home features — Smart home features can increase both resale and rental value by making the home more convenient and attractive.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior siding — Fresh paint can enhance curb appeal and property value. ↑
• Both Landscaping improvements — Enhanced landscaping can attract more potential buyers or renters. ↑
• Resale Updating the kitchen backsplash — A fresh backsplash can make the kitchen more appealing to potential buyers. ↑
• Both Adding smart home features — Smart home features can increase both resale and rental value by making the home more convenient and attractive. ↑

ⓘ 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: Anderson Community School Corporation
• NCES district ID: 1800150
• Math proficiency: 15% ▼ -14.00%
• Reading proficiency: 23% ▼ -7.00%
• Median HH income: $38,208
• Composite: 15.93/100
• National rank: #9250
• State rank: #280 of 301 in IN

Livability — Anderson

• Score: 60/100
• State rank: #521
• US rank: #18709

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Anderson, IN
• County: Madison County · 69,445 people
• City population: 57,762
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 19,073
• Household income: $49,310
• Rent vs Own: 34.8% rent · 65.2% own
• Severe rent burden: 612.0

Population outlook (Madison County) Hauer SSP2

• Today (2025): 125,800 people
• By 2030: 122,640 · -2.5%
• By 2040: 115,420 · -8.3%
• By 2050: 108,148 · -14.0%
• By 2075: 91,838 · -27.0%
• By 2100: 75,670 · -39.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Two or more races 8% Black 7% Hispanic / Latino 3%
• Common ancestry: Lithuanian 2% Slovak 2% Italian 1%
• Foreign-born: 0% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Madison

• 2024 margin: Strong R (+26.9) · D 35.6% · R 62.5% · Other 1.9%
• 2008→2024 swing: -33.5pp toward R · 2008: 6.5pp · 2024: -26.9pp
• All cycles: 2024: R+26.9 2020: R+22.6 2016: R+25.7 2012: R+4.5 2008: D+6.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -86.70%
• Current HPI: 235.7485
• Rent YoY: —
• Metro: Indianapolis-Carmel-Anderson, 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