50675 Donna St · Granger, IN 46514

$174,900

3 bd · 1.5 ba · 1,219 sqft · Manufactured public records · 33 Days on market

Built 1973 0.92 ac lot

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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).

• Cash flow +14.6/30.0
• ARV discount +7.5/15.0
• DSCR +4.4/10.0
• Rent growth +4.3/5.0
• 1% rule +3.9/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Final price reduction!! Here is your amazing opportunity to own a high income producing property on almost an acre lot out in the country. The mobile home is a 1,219 sqft 3 bed 1 bath. The 2nd home is 1,512 sqft and has been renovated into 2 studio apartments (handicap accessible), both fully equipped with their own furnace, gas meter, and each with their own 1000gl septic tank that run into the main home's 20,000gl septic tank. The studio apartments were previously leased for $700 per month each. Within 20 minutes from Notre Dame campus, this property has great AirBNB potential. Get paid to live in the front home by renting out the 2 studio apartments. Use the apartments to host out of town family or friends. The possibilities are endless. Schedule a tour today!

Key facts

• 0.92 acre lot
• Built 1973
• Listed 32 days

Property features AI

Finance

• Other: Above-grade finished area approximately 2,731 (listed)

Exterior

• Parking: Off-street parking
• Utilities: Private well water; Septic tank sewer
• Home design: Single-story manufactured home; Residential property in Michiana Acres subdivision
• Construction: Aluminum and vinyl siding; 1-story structure
• Exterior features: Level lot; Lot dimensions approximately 122 x 330; Approximately 0.92 acre lot

Interior

• Kitchen: Gas range; Refrigerator
• Bathrooms: Three full bathrooms (all on the main level)
• Heating & cooling: Natural gas forced-air heating; Window air conditioning units
• Interior features: Refrigerator; Gas range; Gas water heater; Water heater; Crawl space basement
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath manufactured listed at $175k.

Deal economics

• At list price, monthly cash flow is $40 ($482/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $157k (10.5% below list).
• Recommended offer: $157k (10.5% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 3.3% in Granger — 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 78/100 on livability (#33 in IN, #2,584 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities 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: Mary Feeser Elementary School (math 21% / reading 21%, grade F, #807 of 994 statewide, top 81%, 504 students, 61% FRL); West Side Middle School (math 15% / reading 31%, grade F, #263 of 330 statewide, top 80%, 582 students, 67% FRL); Elkhart High School (math 17% / reading 51%, grade F, #285 of 369 statewide, top 78%, 3,325 students, 63% FRL) — zoned schools at 64% FRL track the district average.
• Market conditions: Rents rising fast (+7.0%/yr); 269 active listings in the ZIP; 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 $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($170k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y 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.
• Current owner paid $92k; list at $175k implies a 90% gain — meaningful room to come down on a strong offer.

Recommended offer $156,533 (10.5% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.89% ✗
• Cap rate: 6.57%
• Cash-on-cash: 0.99%
• DSCR: 1.04
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $63,388
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
30318 Chevy Chase Dr	0.44mi	2/2.0 (-1)	1,130 (-7%)	6mo	$59,000	$52	55

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: -10.3%
• Equity multiple: 0.61×
• Total profit: $-19,161
• Equity at exit: $26,078

10-year hold

• IRR: 3.8%
• Equity multiple: 1.33×
• Total profit: $16,128
• Equity at exit: $15,122

Cash invested: $48,972 (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 46514

• Rents YoY: 7.0%
• Active inventory: 269
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,565 medium
• Mortgage (P&I): −$917
• Tax from tax record: −$206 /mo · $2,476/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$329
• Net cashflow: $40

Break-even live

Break-even rent $1,514

Max offer price $174,900

Occupancy floor 92%

Sensitivity live

Price	-10% $139	-5% $90	+0% $40	+5% $-9	+10% $-59
Rent	-10% $-83	-5% $-22	+0% $40	+5% $102	+10% $164
Rate	-1.0pp $128	-0.5pp $85	base $40	+0.5pp $-5	+1.0pp $-51

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: $43,725
• Closing costs: $5,247
• Reserves months: —
• Total cash needed: —

Listing history 34 events

1. 2026-06-19
   days on market $174,900 Active 33 DOM
2. 2026-06-18
   days on market $174,900 Active 32 DOM
3. 2026-06-17
   days on market $174,900 Active 31 DOM
4. 2026-06-16
   days on market $174,900 Active 30 DOM
5. 2026-06-15
   days on market $174,900 Active 29 DOM
6. 2026-06-14
   days on market $174,900 Active 27 DOM
7. 2026-06-13
   days on market $174,900 Active 26 DOM
8. 2026-06-10
   days on market $174,900 Active 24 DOM
9. 2026-06-09
   days on market $174,900 Active 23 DOM
10. 2026-06-08
    days on market $174,900 Active 22 DOM
11. 2026-06-07
    days on market $174,900 Active 21 DOM
12. 2026-06-05
    days on market $174,900 Active 18 DOM
13. 2026-06-03
    days on market $174,900 Active 17 DOM
14. 2026-06-02
    days on market $174,900 Active 16 DOM
15. 2026-06-01
    days on market $174,900 Active 15 DOM
16. 2026-05-31
    days on market $174,900 Active 14 DOM
17. 2026-05-30
    days on market $174,900 Active 13 DOM
18. 2026-05-17
    listed $174,900 Active
19. 2024-07-16
    soldstatus $92,000 Closed 774-char remark

    Show marketing remark (774 chars)

    Final price reduction!! Here is your amazing opportunity to own a high income producing property on almost an acre lot out in the country. The mobile home is a 1,219 sqft 3 bed 1 bath. The 2nd home is 1,512 sqft and has been renovated into 2 studio apartments (handicap accessible), both fully equipped with their own furnace, gas meter, and each with their own 1000gl septic tank that run into the main home's 20,000gl septic tank. The studio apartments were previously leased for $700 per month each. Within 20 minutes from Notre Dame campus, this property has great AirBNB potential. Get paid to live in the front home by renting out the 2 studio apartments. Use the apartments to host out of town family or friends. The possibilities are endless. Schedule a tour today!

20. 2024-06-25
    status Pending 774-char remark

    Show marketing remark (774 chars)

    Final price reduction!! Here is your amazing opportunity to own a high income producing property on almost an acre lot out in the country. The mobile home is a 1,219 sqft 3 bed 1 bath. The 2nd home is 1,512 sqft and has been renovated into 2 studio apartments (handicap accessible), both fully equipped with their own furnace, gas meter, and each with their own 1000gl septic tank that run into the main home's 20,000gl septic tank. The studio apartments were previously leased for $700 per month each. Within 20 minutes from Notre Dame campus, this property has great AirBNB potential. Get paid to live in the front home by renting out the 2 studio apartments. Use the apartments to host out of town family or friends. The possibilities are endless. Schedule a tour today!

21. 2024-06-11
    price $100,000 774-char remark

    Show marketing remark (774 chars)

    Final price reduction!! Here is your amazing opportunity to own a high income producing property on almost an acre lot out in the country. The mobile home is a 1,219 sqft 3 bed 1 bath. The 2nd home is 1,512 sqft and has been renovated into 2 studio apartments (handicap accessible), both fully equipped with their own furnace, gas meter, and each with their own 1000gl septic tank that run into the main home's 20,000gl septic tank. The studio apartments were previously leased for $700 per month each. Within 20 minutes from Notre Dame campus, this property has great AirBNB potential. Get paid to live in the front home by renting out the 2 studio apartments. Use the apartments to host out of town family or friends. The possibilities are endless. Schedule a tour today!

22. 2024-06-09
    price $109,900 774-char remark

    Show marketing remark (774 chars)

    Final price reduction!! Here is your amazing opportunity to own a high income producing property on almost an acre lot out in the country. The mobile home is a 1,219 sqft 3 bed 1 bath. The 2nd home is 1,512 sqft and has been renovated into 2 studio apartments (handicap accessible), both fully equipped with their own furnace, gas meter, and each with their own 1000gl septic tank that run into the main home's 20,000gl septic tank. The studio apartments were previously leased for $700 per month each. Within 20 minutes from Notre Dame campus, this property has great AirBNB potential. Get paid to live in the front home by renting out the 2 studio apartments. Use the apartments to host out of town family or friends. The possibilities are endless. Schedule a tour today!

23. 2024-06-07
    price $119,900 774-char remark

    Show marketing remark (774 chars)

    Final price reduction!! Here is your amazing opportunity to own a high income producing property on almost an acre lot out in the country. The mobile home is a 1,219 sqft 3 bed 1 bath. The 2nd home is 1,512 sqft and has been renovated into 2 studio apartments (handicap accessible), both fully equipped with their own furnace, gas meter, and each with their own 1000gl septic tank that run into the main home's 20,000gl septic tank. The studio apartments were previously leased for $700 per month each. Within 20 minutes from Notre Dame campus, this property has great AirBNB potential. Get paid to live in the front home by renting out the 2 studio apartments. Use the apartments to host out of town family or friends. The possibilities are endless. Schedule a tour today!

24. 2024-05-29
    listed $125,000 Active 774-char remark

    Show marketing remark (774 chars)

    Final price reduction!! Here is your amazing opportunity to own a high income producing property on almost an acre lot out in the country. The mobile home is a 1,219 sqft 3 bed 1 bath. The 2nd home is 1,512 sqft and has been renovated into 2 studio apartments (handicap accessible), both fully equipped with their own furnace, gas meter, and each with their own 1000gl septic tank that run into the main home's 20,000gl septic tank. The studio apartments were previously leased for $700 per month each. Within 20 minutes from Notre Dame campus, this property has great AirBNB potential. Get paid to live in the front home by renting out the 2 studio apartments. Use the apartments to host out of town family or friends. The possibilities are endless. Schedule a tour today!

25. 2024-04-24
    price $134,900
26. 2024-04-17
    price $144,900
27. 2024-04-11
    price $154,900
28. 2024-03-11
    price $158,900
29. 2024-02-22
    price $159,900
30. 2024-01-25
    listed $160,000 Active
31. 2023-02-28
    status Pending
32. 2023-01-24
    price $126,000
33. 2023-01-11
    price $140,000
34. 2022-12-13
    listed $160,000 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: $2,476 · $206/mo
• Projected year-2 tax: $2,476 · $206/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 4/10 Moderate FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,784
• − Mortgage interest: −$9,797
• − Property taxes: −$2,476
• − Insurance: −$874
• − Repairs & maintenance: −$1,503
• − Management: −$1,503
• − Depreciation: −$5,088
• Taxable loss: −$2,457
• Est. tax savings @ 24.0%: +$590
• After-tax cash flow: $1,072/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: 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

Livability — Granger

• Score: 78/100
• State rank: #33
• US rank: #2584

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Elkhart County · 107,928 people
• City population: 31,598
• Metro: Elkhart-Goshen, IN
• Population (ZIP): 42,389
• Household income: $65,833
• Rent vs Own: 28.0% rent · 72.0% own
• Severe rent burden: 1061.0

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%

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%
• Common ancestry: Lithuanian 2% Romanian 2% Italian 2%
• Foreign-born: 8% · Canada
• Languages at home: 89% English-only · Spanish 10%

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

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

+9.3% since first listed

17 events — show timeline

• 2026-05-17 Listed $174,900 IRMLS
• 2024-07-16 Sold (MLS) $92,000 IRMLS
• 2024-06-25 Pending — IRMLS
• 2024-06-11 Price Changed $100,000 IRMLS
• 2024-06-09 Price Changed $109,900 IRMLS
• 2024-06-07 Price Changed $119,900 IRMLS
• 2024-05-29 Listed $125,000 IRMLS
• 2024-04-24 Price Changed $134,900 IRMLS
• 2024-04-17 Price Changed $144,900 IRMLS
• 2024-04-11 Price Changed $154,900 IRMLS
• 2024-03-11 Price Changed $158,900 IRMLS
• 2024-02-22 Price Changed $159,900 IRMLS
• 2024-01-25 Listed $160,000 IRMLS
• 2023-02-28 Pending — IRMLS
• 2023-01-24 Price Changed $126,000 IRMLS
• 2023-01-11 Price Changed $140,000 IRMLS
• 2022-12-13 Listed $160,000 IRMLS

Property tax history

+12.4%/yr

Latest (2025): $2,476 · +153.6% YoY. Source: county tax records.