1112 E Colglazier Dr · Farmersburg, IN 47850

$135,000

3 bd · 1.0 ba · 1,412 sqft · Manufactured public records · 4 Days on market

Built 1975 1.25 ac lot

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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 +21.9/30.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• 1% rule +4.7/10.0
• Livability +3.2/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +1.4/10.0

Listing remarks MLS

If you are looking for a 3 bedroom home on over an acre with not only a 2 car garage , but a home that also has a pole barn out in the country you will want to check out this home south of Vigo county. This home has been completely redone and features a living room with new paint & carpet. A kitchen with new stove, refrigerator & range hood, that gives way to the dining area both with new flooring and new light fixtures. There is a huge family room that is big enough for about any size family as this is a 3 bedroom home. The bedrooms have been repainted and new carpet and there are some new windows in the home. The bath has also been updated. Outside you are on 1.25 acres with a 2 car detached garage and there is also a pole barn on the property with concrete floor. There is also a deck that has been freshly painted and is ready for your family.

Key facts

• Paved road
• Pole barn
• City water

Tags

• PAVED ROAD
• CITY WATER
• DETACHED GARAGE
• STORAGE OPPORTUNITIES
• POLE BARN
• CONCRETE FLOORS

Property features AI

Exterior

• Parking: Detached garage; Three garage spaces; Gravel driveway
• Utilities: Septic tank
• Home design: Manufactured home; Single-story
• Construction: Aluminum siding; Metal and shingle roof
• Exterior features: Deck; Barn(s); Outbuilding

Interior

• Kitchen: Gas oven; Gas range; Refrigerator
• Flooring: Carpet; Vinyl
• Bathrooms: One full bathroom
• Heating & cooling: Wood stove heating; Propane heating; Central air conditioning; Ceiling fans
• Interior features: Gas oven and gas range; Refrigerator; Washer; One fireplace; Crawl space basement
• Laundry & utility: Washer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $135k.

Deal economics

• At list price, monthly cash flow is $212 ($3k/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 $131k (3.2% below list).
• Recommended offer: $131k (3.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 63/100 on livability (#434 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A; Watch: employment D+, amenities F, commute F.
• Vigo County School Corporation (urban): math 32% / reading 37% proficiency, ranked #202 of 301 in IN (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hoosier Prairie Elementary School (math 47% / reading 32%, grade F, #500 of 994 statewide, top 53%, 394 students, 53% FRL); Honey Creek Middle School (math 34% / reading 44%, grade F, #128 of 330 statewide, top 40%, 664 students, 39% FRL); Terre Haute South Vigo High School (math 37% / reading 72%, grade C-, #79 of 369 statewide, top 26%, 1,610 students, 51% FRL) — zoned schools at 48% FRL track the district average.
• Market conditions: 19 active listings in the ZIP; 60 units permitted in Vigo County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Vigo County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 9y 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 $75k; list at $135k implies a 80% gain — meaningful room to come down on a strong offer.

Recommended offer $130,733 (3.2% below list)

Questions for the listing agent

1. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 0.97% ✗
• Cap rate: 8.17%
• Cash-on-cash: 6.72%
• DSCR: 1.30
• GRM: 8.6

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: -6.0%
• Equity multiple: 0.78×
• Total profit: $-8,448
• Equity at exit: $20,129

10-year hold

• IRR: 3.6%
• Equity multiple: 1.26×
• Total profit: $9,798
• Equity at exit: $11,672

Cash invested: $37,800 (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 47850

• Home prices YoY: -3.8%
• Active inventory: 19
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,307 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$57 /mo · $684/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$275
• Net cashflow: $212

Break-even live

Break-even rent $1,039

Max offer price $135,000

Occupancy floor 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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-13
   statusdays on market $135,000 Pending 4 DOM
2. 2026-06-10
   days on market $135,000 Active 2 DOM
3. 2026-06-09
   remarks 699-char remark
4. 2026-06-09
   listed $135,000 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: $684 · $57/mo
• Projected year-2 tax: $916 · $76/mo
• Expected delta: +$232/yr (+$19/mo · 33.9%)

ⓘ 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 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥104°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,688
• − Mortgage interest: −$7,562
• − Property taxes: −$684
• − Insurance: −$675
• − Repairs & maintenance: −$1,255
• − Management: −$1,255
• − Depreciation: −$3,927
• Taxable income: $330
• Est. tax owed @ 24.0%: −$79
• After-tax cash flow: $2,460/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: Vigo County School Corporation
• NCES district ID: 1812090
• Math proficiency: 32% ▼ -10.00%
• Reading proficiency: 37% ▼ -8.00%
• Median HH income: $40,100
• Composite: 28.97/100
• National rank: #6625
• State rank: #202 of 301 in IN

Livability — Farmersburg

• Score: 63/100
• State rank: #434
• US rank: #15622

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,027

Population outlook (Vigo County) Hauer SSP2

• Today (2025): 106,366 people
• By 2030: 105,674 · -0.7%
• By 2040: 103,731 · -2.5%
• By 2050: 101,200 · -4.9%
• By 2075: 95,674 · -10.1%
• By 2100: 85,910 · -19.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Asian 4%
• Common ancestry: Italian 4% Slovak 3% Romanian 3%
• Foreign-born: 4% · Canada
• Languages at home: 99% English-only · Other Asian/Pacific 1%

Political lean MEDSL · Vigo

• 2024 margin: R (+18.1) · D 40.0% · R 58.1% · Other 2.0%
• 2008→2024 swing: -33.9pp toward R · 2008: 15.8pp · 2024: -18.1pp
• All cycles: 2024: R+18.1 2020: R+14.7 2016: R+15.2 2012: D+0.8 2008: D+15.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -7.13%
• Current HPI: 183.1507
• 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

+170.5% since first listed

8 events — show timeline

• 2026-06-08 Listed $135,000 THAAR
• 2020-07-01 Sold (MLS) $75,000 THAAR
• 2020-05-18 Listed $89,900 THAAR
• 2020-03-25 Listed $94,500 THAAR
• 2019-10-22 Listed $99,500 THAAR
• 2019-05-13 Listed $109,500 THAAR
• 2017-07-31 Sold (MLS) $40,000 THAAR
• 2017-06-19 Listed $49,900 THAAR

Property tax history

+0.2%/yr

Latest (2024): $684 · +0.5% YoY. Source: county tax records.