1618 Busseron St · Vincennes, IN 47591

$67,500

3 bd · 2.0 ba · 1,216 sqft · Manufactured public records · 47 Days on market

Built 2021 7,405 sqft lot $56/sqft · 45% below area Est $123k · 45% under ↓ 20% since listing

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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
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• Livability +3.5/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Calling all investors and anyone who is searching for a newer, low maintenance home that you can move right into. This 2021 single wide home features 3 bedrooms, 2 full baths, a large closet in the main bath, open concept living room, kitchen, dining room that is ready for its new owners. Also included in the sale is an newer shed for extra storage. This home has its own lot so there is no lot fee and its convenient location to downtown, school, shopping makes this a wonderful place to call home.

Key facts

• 7,405 sq ft lot
• Built 2021
• Listed 47 days

Property features AI

Finance

• Other: Property listed by F.C. TUCKER EMGE

Exterior

• Utilities: Public water; Public sewer
• Home design: Manufactured home (residential); Single-story (implied by main-level features)
• Construction: Vinyl siding; Approx. 1,216 above-grade finished area
• Exterior features: Level lot; Irregular lot shape; Shed(s)

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: 5 total rooms (includes bedrooms and living spaces); Laundry on the main level
• Bathrooms: 2 full bathrooms; 2 main-level bathrooms
• Heating & cooling: Electric forced-air heating; Central air conditioning
• Interior features: Refrigerator; Electric range; Electric water heater; One fireplace; No basement
• Laundry & utility: Main-level laundry; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $68k.

Deal economics

• At list price, monthly cash flow is $367 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($975 rent vs $68k).
• Recommended offer: $65k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.8% vs local median 5.0% in Vincennes — 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 70/100 on livability (#148 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment D-.
• Vincennes Community School Corporation (town): math 34% / reading 38% proficiency, ranked #193 of 301 in IN (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Francis Vigo Elementary School (math 52% / reading 37%, grade F, #379 of 994 statewide, top 41%, 347 students, 62% FRL); George Rogers Clark School (math 27% / reading 34%, grade F, #203 of 330 statewide, top 63%, 609 students, 57% FRL); Lincoln High School (math 27% / reading 47%, grade F, #247 of 369 statewide, top 70%, 765 students, 55% FRL) — zoned schools at 58% FRL track the district average.
• Market conditions: 139 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 36 units permitted in Knox County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $467 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Knox 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 $19k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($65k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 3y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: major flood risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $65,475 (3.0% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 1.44% ✓
• Cap rate: 12.82%
• Cash-on-cash: 23.32%
• DSCR: 2.04
• GRM: 5.8

CMA / ARV

• ARV (median comp): $122,651
• List price: $67,500
• Delta: -44.97%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
712 S 16th St	0.55mi	3/2.0	1,080 (-11%)	9mo	$114,900	$106	48

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: 16.3%
• Equity multiple: 1.66×
• Total profit: $12,428
• Equity at exit: $10,064

10-year hold

• IRR: 24.9%
• Equity multiple: 3.16×
• Total profit: $40,843
• Equity at exit: $5,836

Cash invested: $18,900 (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 47591

• Home prices YoY: -19.5%
• Active inventory: 139
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $975 medium
• Mortgage (P&I): −$354
• Tax from tax record: −$21 /mo · $251/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$205
• Net cashflow: $367

Break-even live

Break-even rent $510

Max offer price $67,500

Occupancy floor 57%

Sensitivity live

Price	-10% $405	-5% $386	+0% $367	+5% $348	+10% $329
Rent	-10% $290	-5% $329	+0% $367	+5% $406	+10% $444
Rate	-1.0pp $401	-0.5pp $384	base $367	+0.5pp $350	+1.0pp $332

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: $16,875
• Closing costs: $2,025
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
721 N 7th St Unit A Vincennes, IN	2.0	1.0	1000	$975	$0.97	44d	1	0.84mi

Listing history 28 events

1. 2026-06-21
   days on market $67,500 Active 47 DOM
2. 2026-06-18
   days on market $67,500 Active 45 DOM
3. 2026-06-17
   days on market $67,500 Active 44 DOM
4. 2026-06-16
   days on market $67,500 Active 43 DOM
5. 2026-06-15
   days on market $67,500 Active 42 DOM
6. 2026-06-13
   days on market $67,500 Active 40 DOM
7. 2026-06-12
   days on market $67,500 Active 39 DOM
8. 2026-06-09
   days on market $67,500 Active 36 DOM
9. 2026-06-08
   days on market $67,500 Active 35 DOM
10. 2026-06-07
    days on market $67,500 Active 34 DOM
11. 2026-06-07
    days on market $67,500 Active 33 DOM
12. 2026-06-04
    days on market $67,500 Active 30 DOM
13. 2026-06-02
    days on market $67,500 Active 29 DOM
14. 2026-06-01
    days on market $67,500 Active 28 DOM
15. 2026-05-31
    days on market $67,500 Active 27 DOM
16. 2026-05-31
    days on market $67,500 Active 26 DOM
17. 2026-05-04
    listed $67,500 Active 530-char remark
18. 2025-04-15
    listed $69,900 Active
19. 2024-08-30
    price $72,000
20. 2024-04-16
    price $77,400
21. 2024-02-26
    listed $79,900 Active
22. 2023-11-13
    listed $79,900 Active
23. 2023-09-28
    soldstatus $70,000 Closed
24. 2023-08-21
    status Pending
25. 2023-07-25
    status Active
26. 2023-07-19
    status Pending
27. 2023-05-23
    price $75,000
28. 2023-04-19
    listed $84,900 Active

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

Tax reassessment forecast IN · Partial reset (capped growth)

• Current annual tax: $251 · $21/mo
• Projected year-2 tax: $412 · $34/mo
• Expected delta: +$162/yr (+$13/mo · 64.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major 73% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,700
• − Mortgage interest: −$3,781
• − Property taxes: −$251
• − Insurance: −$338
• − Repairs & maintenance: −$936
• − Management: −$936
• − Depreciation: −$1,964
• Taxable income: $3,495
• Est. tax owed @ 24.0%: −$839
• After-tax cash flow: $3,568/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.

Schools (NCES district)

• District: Vincennes Community School Corporation
• NCES district ID: 1812120
• Math proficiency: 34% ▼ -5.00%
• Reading proficiency: 38% ▼ -4.00%
• Median HH income: $38,359
• Composite: 30.05/100
• National rank: #6354
• State rank: #193 of 301 in IN

Livability — Vincennes

• Score: 70/100
• State rank: #148
• US rank: #7480

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Vincennes, IN
• Population (ZIP): 25,191

Population outlook (Knox County) Hauer SSP2

• Today (2025): 37,092 people
• By 2030: 36,271 · -2.2%
• By 2040: 34,196 · -7.8%
• By 2050: 32,405 · -12.6%
• By 2075: 28,754 · -22.5%
• By 2100: 24,110 · -35.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 6% Hispanic / Latino 3% Black 2% Asian 1%
• Common ancestry: Lithuanian 4% Romanian 2% Slovak 2%
• Foreign-born: 3% · Canada, China
• Languages at home: 95% English-only · Spanish 2% French/Haitian/Cajun 1% Chinese 1%

Political lean MEDSL · Knox

• 2024 margin: Solid R (+50.4) · D 24.0% · R 74.4% · Other 1.6%
• 2008→2024 swing: -43.9pp toward R · 2008: -6.5pp · 2024: -50.4pp
• All cycles: 2024: R+50.4 2020: R+47.4 2016: R+47.2 2012: R+28.9 2008: R+6.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -47.26%
• Current HPI: 194.903
• Rent YoY: —
• Metro: —
• 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

-20.5% since first listed

12 events — show timeline

• 2026-05-04 Listed $67,500 IRMLS
• 2025-04-15 Listed $69,900 IRMLS
• 2024-08-30 Price Changed $72,000 IRMLS
• 2024-04-16 Price Changed $77,400 IRMLS
• 2024-02-26 Listed $79,900 IRMLS
• 2023-11-13 Listed $79,900 IRMLS
• 2023-09-28 Sold (MLS) $70,000 IRMLS
• 2023-08-21 Pending — IRMLS
• 2023-07-25 Relisted — IRMLS
• 2023-07-19 Pending — IRMLS
• 2023-05-23 Price Changed $75,000 IRMLS
• 2023-04-19 Listed $84,900 IRMLS

Property tax history

+15.6%/yr

Latest (2024): $251 · -74.1% YoY. Source: county tax records.