305 E Madison St · Scottsburg, IN 47170

$46,000

3 bd · 1.5 ba · 980 sqft · Manufactured public records · 4 Days on market

Built 1981 10,140 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.5/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investors take notice! Corner lot close to school, park and downtown. Make this your home with some TLC or build a new home on the lot. Singlewide with 3 bedrooms, 1.5 baths, living room and eat-in kitchen.

Key facts

• Close to school
• Close to park
• Corner lot

Tags

• CORNER LOT
• CLOSE TO SCHOOL
• CLOSE TO PARK
• CLOSE TO DOWNTOWN

Property features AI

Finance

• Other: Zoned residential

Exterior

• Parking: No garage
• Utilities: Public water connection; Public sewer
• Home design: Single-wide mobile home; Single story; Entry level: main level
• Construction: Metal siding; Crawlspace foundation; Built area above grade: 980
• Exterior features: Corner lot; Paved road access

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: Primary bedroom on the main level
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating; Heating present
• Interior features: Eat-in kitchen; Main-level primary bedroom; Utility room
• Laundry & utility: Laundry on the main level; Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath manufactured listed at $46k.

Deal economics

• At list price, monthly cash flow is $480 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($951 rent vs $46k).
• Cap rate 18.8% vs local median 4.1% in Scottsburg — 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 (#152 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: amenities F, commute F, employment D-.
• Scott County School District 2 (town): math 33% / reading 43% proficiency, ranked #166 of 301 in IN (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Scottsburg Elem School (math 37% / reading 32%, grade F, #597 of 994 statewide, top 63%, 485 students, 73% FRL); Scottsburg Middle School (math 17% / reading 36%, grade F, #236 of 330 statewide, top 72%, 537 students, 60% FRL); Scottsburg Senior High School (math 32% / reading 62%, grade D-, #143 of 369 statewide, top 44%, 726 students, 56% FRL) — zoned schools average 63% FRL vs 45% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 106 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 73 units permitted in Scott County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $318 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Scott County population projected at -23% 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 $13k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

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

Recommended offer $46,000

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. 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.
3. 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.
4. 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: 2.07% ✓
• Cap rate: 18.82%
• Cash-on-cash: 44.73%
• DSCR: 2.99
• GRM: 4.0

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: 41.8%
• Equity multiple: 2.79×
• Total profit: $23,111
• Equity at exit: $6,859

10-year hold

• IRR: 47.9%
• Equity multiple: 5.62×
• Total profit: $59,441
• Equity at exit: $3,977

Cash invested: $12,880 (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 47170

• Home prices YoY: -22.3%
• Active inventory: 106
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $951 high
• Mortgage (P&I): −$241
• Tax from tax record: −$10 /mo · $125/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$200
• Net cashflow: $480

Break-even live

Break-even rent $343

Max offer price $46,000

Occupancy floor 44%

Sensitivity live

Price	-10% $506	-5% $493	+0% $480	+5% $467	+10% $454
Rent	-10% $405	-5% $443	+0% $480	+5% $518	+10% $555
Rate	-1.0pp $503	-0.5pp $492	base $480	+0.5pp $468	+1.0pp $456

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: $11,500
• Closing costs: $1,380
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
254 E Davis St Unit D Scottsburg, IN	2.0	1.0	750	$910	$1.21	25d	1	0.15mi
254 E Davis St Unit D Scottsburg, IN	2.0	1.0	750	$825	$1.10	13d	1	0.15mi
280 Harrison St Unit 1 Scottsburg, IN	2.0	1.0	750	$895	$1.19	4d	1	0.16mi
737 Ray St Scottsburg, IN	3.0	1.0	989	$1,475	$1.49	45d	1	0.63mi
854 W Lake Rd W Scottsburg, IN	2.0	1.0	794	$925	$1.16	25d	1	0.99mi
33 S Johns Ct Scottsburg, IN	3.0	2.0	1000	$1,299	$1.30	3d	3	1.00mi

Listing history 4 events

1. 2026-06-21
   days on market $46,000 Active 4 DOM
2. 2026-06-21
   days on market $46,000 Active 3 DOM
3. 2026-06-18
   remarks 206-char remark
4. 2026-06-18
   listed $46,000 Active 1 DOM

ⓘ 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: $125 · $10/mo
• Projected year-2 tax: $258 · $22/mo
• Expected delta: +$133/yr (+$11/mo · 105.9%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,407
• − Mortgage interest: −$2,577
• − Property taxes: −$125
• − Insurance: −$230
• − Repairs & maintenance: −$913
• − Management: −$913
• − Depreciation: −$1,338
• Taxable income: $5,312
• Est. tax owed @ 24.0%: −$1,275
• After-tax cash flow: $4,487/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: Scott County School District 2
• NCES district ID: 1810020
• Math proficiency: 33% ▼ -10.00%
• Reading proficiency: 43% ▼ -6.00%
• Median HH income: $45,529
• Composite: 32.37/100
• National rank: #5734
• State rank: #166 of 301 in IN

Livability — Scottsburg

• Score: 70/100
• State rank: #152
• US rank: #7609

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: Scottsburg, IN
• Population (ZIP): 15,279

Population outlook (Scott County) Hauer SSP2

• Today (2025): 22,525 people
• By 2030: 21,609 · -4.1%
• By 2040: 19,536 · -13.3%
• By 2050: 17,370 · -22.9%
• By 2075: 12,862 · -42.9%
• By 2100: 9,340 · -58.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Slovak 2% Lithuanian 1% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Indo-European 1%

Political lean MEDSL · Scott

• 2024 margin: Solid R (+51.5) · D 23.4% · R 74.9% · Other 1.6%
• 2008→2024 swing: -49.5pp toward R · 2008: -2.0pp · 2024: -51.5pp
• All cycles: 2024: R+51.5 2020: R+45.6 2016: R+37.9 2012: R+6.2 2008: R+2.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -64.30%
• Current HPI: 223.9909
• 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

1 event — show timeline

• 2026-06-16 Listed $46,000 SIRA

Property tax history

-1.5%/yr

Latest (2024): $125 · +7.2% YoY. Source: county tax records.