917 Rose Ln · Grandview, IN 47615

$181,900

4 bd · 2.0 ba · 1,620 sqft · Manufactured public records · 51 Days on market

Built 2023 8,451 sqft lot $112/sqft · 72% above area ↓ 4% since listing

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Why this score? — see what drove the D 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).

• Appreciation +8.8/10.0
• Cash flow +7.7/30.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• DSCR +1.8/10.0

Listing remarks MLS

Check out this 2023-built manufactured home offering 3 bedrooms, 2 bathrooms, plus an additional office space that could easily be used as a 4th bedroom! This home has already had some great updates done for you, including a brand new front porch, fresh gravel added to the driveway, a 10x12 storage shed, and a firepit—perfect for enjoying evenings outside. You’ll also love that the property is not located in a flood zone and qualifies for USDA zero-down financing, giving buyers more flexibility and peace of mind. If you’re looking for something newer with a little extra space and outdoor features already in place, this one is definitely worth a look!

Key facts

• Firepit
• Front porch
• Storage shed

Tags

• FRONT PORCH
• GRAVEL DRIVEWAY
• STORAGE SHED
• FIREPIT
• NOT LOCATED IN A FLOOD ZONE

Property features AI

Finance

• HOA & community: No association amenities

Exterior

• Utilities: Public water; Public sewer; Electric service
• Home design: Manufactured home (residential); Single-story (all main living areas on main level)
• Construction: Vinyl siding; Crawl space foundation; Built area above grade: 1,620
• Exterior features: Shed(s); Located on a cul-de-sac

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Exhaust fan; Electric oven; Electric range
• Bedrooms: Bedrooms located on the main level
• Bathrooms: Two full bathrooms, both on the main level
• Interior features: Blinds; One fireplace (none of the typical fireplace features listed)
• Laundry & utility: Main-level laundry; Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $182k.

Deal economics

• At list price, monthly cash flow is $-214 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $144k (20.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $134k (26.4% below list).
• Recommended offer: $134k (26.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 61/100 on livability (#512 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• South Spencer County School Corporation (rural): math 46% / reading 54% proficiency, ranked #58 of 301 in IN (top 19%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Rockport-Ohio Elementary School (math 52% / reading 52%, grade C-, #237 of 994 statewide, top 26%, 318 students, 61% FRL); South Spencer Middle School (math 39% / reading 52%, grade D+, #79 of 330 statewide, top 24%, 228 students, 56% FRL); South Spencer High School (math 47% / reading 67%, grade C, #64 of 369 statewide, top 18%, 357 students, 44% FRL).
• Market conditions: 11 active listings in the ZIP; 78 units permitted in Spencer County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $15k of equity ($1k loan paydown + $14k appreciation (7.5% local appreciation)).
• Spencer County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 3, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y 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: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $133,952 (26.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.74% ✗
• Cap rate: 4.88%
• Cash-on-cash: -5.04%
• DSCR: 0.78
• GRM: 11.3

CMA / ARV

• ARV (median comp): $105,844
• List price: $181,900
• Delta: 71.86%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
918 Rose Ln	0.03mi	3/2.0 (-1)	1,736 (+7%)	19mo	$169,221	$97	66
902 Rose Ln	0.05mi	3/2.0 (-1)	1,404 (-13%)	22mo	$116,500	$83	52

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

7.51% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 15.0%
• Equity multiple: 2.09×
• Total profit: $55,640
• Equity at exit: $132,128

10-year hold

• IRR: 14.9%
• Equity multiple: 4.37×
• Total profit: $171,585
• Equity at exit: $256,690

Cash invested: $50,932 (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 47615

• Home prices YoY: 3.7%
• Active inventory: 11
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $1,340 medium
• Mortgage (P&I): −$954
• Tax from tax record: −$242 /mo · $2,909/yr
• Insurance: −$76
• HOA: −$0
• Vacancy / Maint / Mgmt: −$281
• Net cashflow: $-214

Break-even live

Break-even rent $1,610

Max offer price $144,122

Occupancy floor —

Sensitivity live

Price	-10% $-111	-5% $-162	+0% $-214	+5% $-265	+10% $-317
Rent	-10% $-320	-5% $-267	+0% $-214	+5% $-161	+10% $-108
Rate	-1.0pp $-122	-0.5pp $-168	base $-214	+0.5pp $-261	+1.0pp $-309

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: $45,475
• Closing costs: $5,457
• Reserves months: —
• Total cash needed: —

Listing history 30 events

1. 2026-06-18
   status $181,900 Pending 51 DOM

   Show marketing remark (676 chars)

   Check out this 2023-built manufactured home offering 3 bedrooms, 2 bathrooms, plus an additional office space that could easily be used as a 4th bedroom! This home has already had some great updates done for you, including a brand new front porch, fresh gravel added to the driveway, a 10x12 storage shed, and a firepit—perfect for enjoying evenings outside. You’ll also love that the property is not located in a flood zone and qualifies for USDA zero-down financing, giving buyers more flexibility and peace of mind. If you’re looking for something newer with a little extra space and outdoor features already in place, this one is definitely worth a look!

2. 2026-06-18
   days on market $181,900 Active 51 DOM

   Show marketing remark (676 chars)

   Check out this 2023-built manufactured home offering 3 bedrooms, 2 bathrooms, plus an additional office space that could easily be used as a 4th bedroom! This home has already had some great updates done for you, including a brand new front porch, fresh gravel added to the driveway, a 10x12 storage shed, and a firepit—perfect for enjoying evenings outside. You’ll also love that the property is not located in a flood zone and qualifies for USDA zero-down financing, giving buyers more flexibility and peace of mind. If you’re looking for something newer with a little extra space and outdoor features already in place, this one is definitely worth a look!

3. 2026-06-17
   days on market $181,900 Active 50 DOM
4. 2026-06-16
   days on market $181,900 Active 49 DOM
5. 2026-06-15
   days on market $181,900 Active 48 DOM
6. 2026-06-14
   days on market $181,900 Active 46 DOM
7. 2026-06-13
   days on market $181,900 Active 45 DOM
8. 2026-06-10
   days on market $181,900 Active 43 DOM
9. 2026-06-09
   days on market $181,900 Active 42 DOM
10. 2026-06-08
    days on market $181,900 Active 41 DOM
11. 2026-06-07
    days on market $181,900 Active 40 DOM
12. 2026-06-05
    days on market $181,900 Active 37 DOM
13. 2026-06-03
    days on market $181,900 Active 36 DOM
14. 2026-06-02
    days on market $181,900 Active 35 DOM
15. 2026-06-01
    days on market $181,900 Active 34 DOM
16. 2026-05-31
    days on market $181,900 Active 33 DOM
17. 2026-05-30
    days on market $181,900 Active 32 DOM
18. 2026-05-14
    price $181,900 676-char remark

    Show marketing remark (676 chars)

    Check out this 2023-built manufactured home offering 3 bedrooms, 2 bathrooms, plus an additional office space that could easily be used as a 4th bedroom! This home has already had some great updates done for you, including a brand new front porch, fresh gravel added to the driveway, a 10x12 storage shed, and a firepit—perfect for enjoying evenings outside. You’ll also love that the property is not located in a flood zone and qualifies for USDA zero-down financing, giving buyers more flexibility and peace of mind. If you’re looking for something newer with a little extra space and outdoor features already in place, this one is definitely worth a look!

19. 2026-05-14
    price $181,900 676-char remark

    Show marketing remark (676 chars)

    Check out this 2023-built manufactured home offering 3 bedrooms, 2 bathrooms, plus an additional office space that could easily be used as a 4th bedroom! This home has already had some great updates done for you, including a brand new front porch, fresh gravel added to the driveway, a 10x12 storage shed, and a firepit—perfect for enjoying evenings outside. You’ll also love that the property is not located in a flood zone and qualifies for USDA zero-down financing, giving buyers more flexibility and peace of mind. If you’re looking for something newer with a little extra space and outdoor features already in place, this one is definitely worth a look!

20. 2026-04-28
    listed $185,000 Active 676-char remark

    Show marketing remark (676 chars)

    Check out this 2023-built manufactured home offering 3 bedrooms, 2 bathrooms, plus an additional office space that could easily be used as a 4th bedroom! This home has already had some great updates done for you, including a brand new front porch, fresh gravel added to the driveway, a 10x12 storage shed, and a firepit—perfect for enjoying evenings outside. You’ll also love that the property is not located in a flood zone and qualifies for USDA zero-down financing, giving buyers more flexibility and peace of mind. If you’re looking for something newer with a little extra space and outdoor features already in place, this one is definitely worth a look!

21. 2026-04-28
    listed $185,000 Active 676-char remark

    Show marketing remark (676 chars)

    Check out this 2023-built manufactured home offering 3 bedrooms, 2 bathrooms, plus an additional office space that could easily be used as a 4th bedroom! This home has already had some great updates done for you, including a brand new front porch, fresh gravel added to the driveway, a 10x12 storage shed, and a firepit—perfect for enjoying evenings outside. You’ll also love that the property is not located in a flood zone and qualifies for USDA zero-down financing, giving buyers more flexibility and peace of mind. If you’re looking for something newer with a little extra space and outdoor features already in place, this one is definitely worth a look!

22. 2025-07-14
    soldstatus $167,000 Closed

    Show marketing remark (244 chars)

    GREAT CONDITION comes with this 3 bedroom manufactured home. The home includes an open floor plan with a terrific kitchen, as well as an additional family room/play room. The property is only 1 year old and is tastefully designed and decorated.

23. 2025-06-02
    status Pending

    Show marketing remark (244 chars)

    GREAT CONDITION comes with this 3 bedroom manufactured home. The home includes an open floor plan with a terrific kitchen, as well as an additional family room/play room. The property is only 1 year old and is tastefully designed and decorated.

24. 2025-05-05
    price $174,500

    Show marketing remark (244 chars)

    GREAT CONDITION comes with this 3 bedroom manufactured home. The home includes an open floor plan with a terrific kitchen, as well as an additional family room/play room. The property is only 1 year old and is tastefully designed and decorated.

25. 2025-03-18
    listed $187,500 Active

    Show marketing remark (244 chars)

    GREAT CONDITION comes with this 3 bedroom manufactured home. The home includes an open floor plan with a terrific kitchen, as well as an additional family room/play room. The property is only 1 year old and is tastefully designed and decorated.

26. 2025-03-18
    listed $187,500

    Show marketing remark (244 chars)

    GREAT CONDITION comes with this 3 bedroom manufactured home. The home includes an open floor plan with a terrific kitchen, as well as an additional family room/play room. The property is only 1 year old and is tastefully designed and decorated.

27. 2024-10-10
    listed $189,900 Active
28. 2023-03-09
    soldstatus $9,000 Closed
29. 2023-01-20
    status Pending
30. 2021-07-02
    listed $9,900 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: $2,909 · $242/mo
• Projected year-2 tax: $2,909 · $242/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,074
• − Mortgage interest: −$10,189
• − Property taxes: −$2,909
• − Insurance: −$910
• − Repairs & maintenance: −$1,286
• − Management: −$1,286
• − Depreciation: −$5,292
• Taxable loss: −$5,797
• Est. tax savings @ 24.0%: +$1,391
• After-tax cash flow: $-1,175/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: South Spencer County School Corporation
• NCES district ID: 1810560
• Math proficiency: 46% ▼ -6.00%
• Reading proficiency: 54% ▼ -2.00%
• Median HH income: $47,220
• Composite: 42.49/100
• National rank: #3208
• State rank: #58 of 301 in IN

Livability — Grandview

• Score: 61/100
• State rank: #512
• US rank: #18203

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Grandview, IN
• Population (ZIP): 1,683

Population outlook (Spencer County) Hauer SSP2

• Today (2025): 20,394 people
• By 2030: 19,912 · -2.4%
• By 2040: 18,592 · -8.8%
• By 2050: 17,051 · -16.4%
• By 2075: 14,010 · -31.3%
• By 2100: 10,869 · -46.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Hispanic / Latino 3% Black 1%
• Common ancestry: Slovak 1% Lithuanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Spencer

• 2024 margin: Solid R (+43.3) · D 27.4% · R 70.6% · Other 2.0%
• 2008→2024 swing: -43.6pp toward R · 2008: 0.4pp · 2024: -43.3pp
• All cycles: 2024: R+43.3 2020: R+38.5 2016: R+37.3 2012: R+15.3 2008: D+0.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.51%
• Current HPI: 208.3355
• 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

-4.2% since first listed

12 events — show timeline

• 2026-06-18 Pending — IRMLS
• 2026-06-18 Pending — GORAMLS
• 2026-05-14 Price Changed $181,900 GORAMLS
• 2026-05-14 Price Changed $181,900 IRMLS
• 2026-04-28 Listed $185,000 GORAMLS
• 2026-04-28 Listed $185,000 IRMLS
• 2025-07-14 Sold (MLS) $167,000 IRMLS
• 2025-06-02 Pending — IRMLS
• 2025-05-05 Price Changed $174,500 IRMLS
• 2025-03-18 Listed $187,500 GORAMLS
• 2025-03-18 Listed $187,500 IRMLS
• 2024-10-10 Listed $189,900 IRMLS

Property tax history

+36.1%/yr

Latest (2024): $2,909 · +7873.0% YoY. Source: county tax records.