1711 Saint James · Elkhart, IN 46514

$98,900

2 bd · 2.0 ba · 1,456 sqft · Manufactured · 418 Days on market

Manufactured home Built 2025 Good condition $68/sqft · 51% below area

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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 +20.5/30.0
• ARV discount +7.5/15.0
• DSCR +6.5/10.0
• 1% rule +5.4/10.0
• Rent growth +4.3/5.0
• Condition / age +3.8/5.0
• Livability +3.4/5.0
• Appreciation +2.5/10.0
• Schools +2.5/10.0
• Manufactured-home adj. -4.5

Listing remarks MLS

MODERN RENOVATED 3 BEDROOM HOME. This home features 3 bedrooms and 2 baths, attached 2 car garage, completely renovated in 2022, durable and attractive vinyl plank flooring, freshly landscaped exterior for enhanced curb appeal and equipped with newer, modern appliances. This move-in ready residence offers thoughtful updates and stylish finishes for comfortable living. Enjoy low-maintenance flooring, a beautifully landscaped yard, and the peace of mind that comes with a recently renovated home. To arrange a private showing or for more information, please contact us today.

Key facts

• Move-in ready
• Modern appliances
• Landscaped yard

Tags

• VINYL PLANK FLOORING
• LANDSCAPED EXTERIOR
• MODERN APPLIANCES
• MOVE-IN READY
• LANDSCAPED YARD

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $99k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $130 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Recommended offer: $87k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 4.3% in Elkhart — 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 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); 595 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 1d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $684 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 7.0% rent growth), your $28k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 418 days — a 12% lower offer ($87k) is reasonable based on typical stale-listing flexibility.

Recommended offer $87,032 (12.0% below list)

Questions for the listing agent

1. It's been on market 418 days. Have you received any prior offers? Is the seller open to a 12% 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. 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?
6. 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.
7. 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.
8. 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: 1.04% ✓
• Cap rate: 7.87%
• Cash-on-cash: 5.65%
• DSCR: 1.25
• GRM: 8.0

CMA / ARV

• ARV (median comp): $203,787
• List price: $98,900
• Delta: -51.47%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
25025 Dunny St	0.57mi	3/2.0 (+1)	1,568 (+8%)	12mo	$192,500	$123	46
1909 Grover St	0.63mi	3/2.0 (+1)	1,349 (-7%)	14mo	$137,000	$102	41
54085 Independence St	0.46mi	3/1.0 (+1)	1,652 (+14%)	12mo	$150,000	$91	36
25884 Modrell Ave	0.77mi	3/2.0 (+1)	1,296 (-11%)	19mo	$156,250	$121	26
26085 Gerald St	0.70mi	2/2.0	1,188 (-18%)	23mo	$160,000	$135	23

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: -3.1%
• Equity multiple: 0.88×
• Total profit: $-3,361
• Equity at exit: $14,746

10-year hold

• IRR: 10.6%
• Equity multiple: 1.98×
• Total profit: $27,210
• Equity at exit: $8,551

Cash invested: $27,692 (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: 60 active
• Median asking: $128,400 ($88/sqft)
• Median days on market: 93 d
• This list price: 37% of active listings are priced below it
• ARV vs active asking: +58.9% 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: 595
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,030 high
• Mortgage (P&I): −$519
• Tax est. 1.5%: −$124 /mo · $1,484/yr
• Insurance: −$41
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$216
• Net cashflow: $130

Break-even live

Break-even rent $865

Max offer price $98,900

Occupancy floor 82%

Sensitivity live

Price	-10% $199	-5% $165	+0% $130	+5% $96	+10% $62
Rent	-10% $49	-5% $90	+0% $130	+5% $171	+10% $212
Rate	-1.0pp $180	-0.5pp $156	base $130	+0.5pp $105	+1.0pp $79

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: $24,725
• Closing costs: $2,967
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2231 Osolo Rd Elkhart, IN	3.0	2.0	1392	$1,225	$0.88	0d	1	0.24mi
1875 Osolo Rd Elkhart, IN	1.0–3.0	1.0–2.0	948	$1,138	$1.20	0d	1	0.48mi
2001 Sugar Maple Ln Elkhart, IN	1.0–2.0	1.0	823	$1,225	$1.49	0d	12	0.59mi
2002 Raintree Dr Elkhart, IN	2.0	1.5–2.0	1049	$1,554	$1.48	0d	4	0.75mi
2002 Raintree Dr Unit 2103-1 Elkhart, IN	2.0	1.5	1034	$1,609	$1.56	51d	1	0.75mi
1301 Cone St Elkhart, IN	2.0	1.0	888	$1,100	$1.24	184d	1	1.20mi
2641 Muirfield Dr Elkhart, IN	1.0–2.0	1.0–2.0	865	$1,513	$1.75	0d	3	1.36mi
1120 Worthmore Ave Elkhart, IN	2.0	1.0	987	$1,700	$1.72	162d	1	1.40mi
1120 Worthmore Ave Elkhart, IN	2.0	1.0	987	$1,700	$1.72	2d	1	1.40mi
1023 Cone St Elkhart, IN	2.0	1.0	1112	$1,200	$1.08	185d	1	1.46mi
26154 Rogers Rd Unit C Elkhart, IN	3.0	1.5	1440	$1,800	$1.25	0d	1	1.48mi

Listing history 50 events

1. 2026-11-08
   days on market $98,900 Active 418 DOM
2. 2026-11-07
   days on market $98,900 Active 417 DOM
3. 2026-11-06
   days on market $98,900 Active 416 DOM
4. 2026-11-05
   days on market $98,900 Active 415 DOM
5. 2026-11-04
   days on market $98,900 Active 414 DOM
6. 2026-11-02
   days on market $98,900 Active 412 DOM
7. 2026-11-01
   days on market $98,900 Active 411 DOM
8. 2026-10-31
   days on market $98,900 Active 410 DOM
9. 2026-10-30
   days on market $98,900 Active 409 DOM
10. 2026-10-29
    days on market $98,900 Active 408 DOM
11. 2026-10-28
    days on market $98,900 Active 407 DOM
12. 2026-10-27
    days on market $98,900 Active 406 DOM
13. 2026-10-26
    days on market $98,900 Active 405 DOM
14. 2026-10-25
    days on market $98,900 Active 404 DOM
15. 2026-10-24
    days on market $98,900 Active 403 DOM
16. 2026-10-23
    days on market $98,900 Active 402 DOM
17. 2026-10-22
    days on market $98,900 Active 401 DOM
18. 2026-10-21
    days on market $98,900 Active 400 DOM
19. 2026-10-20
    days on market $98,900 Active 399 DOM
20. 2026-10-19
    days on market $98,900 Active 398 DOM
21. 2026-10-18
    days on market $98,900 Active 397 DOM
22. 2026-10-17
    days on market $98,900 Active 396 DOM
23. 2026-10-16
    days on market $98,900 Active 395 DOM
24. 2026-10-15
    days on market $98,900 Active 394 DOM
25. 2026-10-14
    days on market $98,900 Active 393 DOM
26. 2026-10-13
    days on market $98,900 Active 392 DOM
27. 2026-10-12
    days on market $98,900 Active 391 DOM
28. 2026-10-11
    days on market $98,900 Active 390 DOM
29. 2026-10-10
    days on market $98,900 Active 389 DOM
30. 2026-10-09
    days on market $98,900 Active 388 DOM
31. 2026-10-08
    days on market $98,900 Active 387 DOM
32. 2026-10-07
    days on market $98,900 Active 386 DOM
33. 2026-10-06
    days on market $98,900 Active 385 DOM
34. 2026-10-05
    days on market $98,900 Active 384 DOM
35. 2026-10-04
    days on market $98,900 Active 383 DOM
36. 2026-10-03
    days on market $98,900 Active 382 DOM
37. 2026-10-02
    days on market $98,900 Active 381 DOM
38. 2026-10-01
    days on market $98,900 Active 380 DOM
39. 2026-09-30
    days on market $98,900 Active 379 DOM
40. 2026-09-29
    days on market $98,900 Active 378 DOM
41. 2026-09-28
    days on market $98,900 Active 377 DOM
42. 2026-09-27
    days on market $98,900 Active 376 DOM
43. 2026-09-26
    days on market $98,900 Active 375 DOM
44. 2026-09-25
    days on market $98,900 Active 374 DOM
45. 2026-09-24
    days on market $98,900 Active 373 DOM
46. 2026-09-24
    days on market $98,900 Active 372 DOM
47. 2026-09-22
    days on market $98,900 Active 371 DOM
48. 2026-09-20
    days on market $98,900 Active 369 DOM
49. 2026-09-18
    days on market $98,900 Active 367 DOM
50. 2026-09-17
    days on market $98,900 Active 366 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: $12,362
• − Mortgage interest: −$5,540
• − Property taxes: −$1,484
• − Insurance: −$494
• − Repairs & maintenance: −$989
• − Management: −$989
• − Depreciation: −$2,877
• Taxable loss: −$11
• Est. tax savings @ 24.0%: +$3
• After-tax cash flow: $1,567/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

Good 75/100 Cosmetic rehab Est. rehab $7,280–$21,840 screening

This modern, recently renovated 3-bedroom home is move-in ready with good condition and minimal repairs needed. It offers a good return on investment with updates that can significantly increase its value.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value ↑
• Both Replace windows — Improves energy efficiency and value ↑
• Both Replace flooring — Modernizes and increases value ↑
• Both Replace appliances — Modernizes and increases value ↑

ⓘ 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 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%
• 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

Price history

1 event — show timeline

• 2025-09-16 Listed $109,500 Zillow