6117 Van Bibber Lake Ests · Van Bibber Lake, IN 46135

$127,500

3 bd · 2.0 ba · 2,004 sqft · SingleFamily · 19 Days on market

Built 2001 Fair condition Est $146k · 13% under $30/mo HOA · 2% of rent

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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 +25.8/30.0
• ARV discount +13.3/15.0
• DSCR +8.6/10.0
• 1% rule +7.1/10.0
• Schools +4.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Livability +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Three bedroom, two full bath Manufactured home, nice kitchen with appliances, pantry and center island. Lg great room,walk-in closet in every bedroom, master bath w/ garden tub. Nice Deck. Live year around or use as a summer retreat. Great fishing in Glen Flint Lake or the Van Bibber lake. Corner lot. This property has been maintained, just move right in.

Key facts

• Functional kitchen
• Separate shower
• Great room

Tags

• GREAT ROOM
• FUNCTIONAL KITCHEN
• PRIVATE FULL BATH
• GARDEN TUB
• SEPARATE SHOWER
• DEDICATED LAUNDRY ROOM

Property features AI

Finance

• HOA & community: Community has an HOA; HOA fee $364 annually

Exterior

• Parking: No designated parking
• Utilities: Public water; Municipal sewer connected
• Home design: Manufactured home; One story
• Construction: Vinyl siding; Block foundation
• Exterior features: Corner lot

Interior

• Kitchen: Dishwasher; Gas oven; Refrigerator
• Bedrooms: Three bedrooms on the main level; Primary bedroom with walk-in closet
• Bathrooms: Two full bathrooms; Primary bathroom with a full shower stall and a garden tub
• Heating & cooling: Forced air heating (Propane); Central air conditioning
• Interior features: Vaulted ceilings; Walk-in closet(s)
• Laundry & utility: Electric water heater; Main-level laundry room (5x12)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $128k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $308 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $128k).
• Recommended offer: $126k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 43/100 on livability (#670 in IN) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: employment D, schools F, amenities F.
• North Putnam Community Schools (rural): math 47% / reading 48% proficiency, ranked #73 of 301 in IN (top 24%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 98 active listings in the ZIP; 166 units permitted in Putnam County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $882 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Putnam County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y 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 $42k; list at $128k implies a 200% gain — meaningful room to come down on a strong offer.

Recommended offer $125,587 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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.
6. 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.
7. 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: 1.21% ✓
• Cap rate: 9.19%
• Cash-on-cash: 10.34%
• DSCR: 1.46
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $146,292
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4082 W County Road 450 N	0.32mi	2/1.0 (-1)	2,250 (+12%)	2mo	$165,000	$73	54

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: -0.8%
• Equity multiple: 0.97×
• Total profit: $-1,020
• Equity at exit: $19,011

10-year hold

• IRR: 8.9%
• Equity multiple: 1.69×
• Total profit: $24,518
• Equity at exit: $11,024

Cash invested: $35,700 (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 46135

• Home prices YoY: -20.8%
• Active inventory: 98
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,543 medium
• Mortgage (P&I): −$669
• Tax est. 1.5%: −$159 /mo · $1,912/yr
• Insurance: −$53
• HOA: −$30
• Vacancy / Maint / Mgmt: −$324
• Net cashflow: $308

Break-even live

Break-even rent $1,153

Max offer price $127,500

Occupancy floor 75%

Sensitivity live

Price	-10% $396	-5% $352	+0% $308	+5% $264	+10% $220
Rent	-10% $186	-5% $247	+0% $308	+5% $369	+10% $430
Rate	-1.0pp $372	-0.5pp $340	base $308	+0.5pp $275	+1.0pp $241

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: $31,875
• Closing costs: $3,825
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $30 · $360/yr

Listing history 14 events

1. 2026-06-21
   days on market $127,500 Active 19 DOM
2. 2026-06-18
   days on market $127,500 Active 17 DOM
3. 2026-06-17
   days on market $127,500 Active 16 DOM
4. 2026-06-16
   days on market $127,500 Active 15 DOM
5. 2026-06-15
   days on market $127,500 Active 14 DOM
6. 2026-06-13
   days on market $127,500 Active 12 DOM
7. 2026-06-12
   days on market $127,500 Active 11 DOM
8. 2026-06-09
   days on market $127,500 Active 8 DOM
9. 2026-06-08
   days on market $127,500 Active 7 DOM
10. 2026-06-07
    days on market $127,500 Active 6 DOM
11. 2026-06-05
    days on market $127,500 Active 4 DOM
12. 2026-06-04
    days on market $127,500 Active 2 DOM
13. 2026-06-02
    remarks 699-char remark
14. 2026-06-02
    listed $127,500 Active 1 DOM

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥104°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $18,514
• − Mortgage interest: −$7,142
• − Property taxes: −$1,912
• − Insurance: −$638
• − Repairs & maintenance: −$1,481
• − Management: −$1,481
• − HOA: −$360
• − Depreciation: −$3,709
• Taxable income: $1,791
• Est. tax owed @ 24.0%: −$430
• After-tax cash flow: $3,263/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This home requires moderate renovations, including painting, updating fixtures, and landscaping, to improve its resale and rental value.

Repairs flagged

• Major Appliances — Not functioning
• Major Bathroom fixtures — Older and in poor condition
• Major Landscaping — Overgrown and unkempt

Value-add opportunities

• Both Painting and updating fixtures — Improves appearance and functionality
• Both Landscaping and yard work — Enhances curb appeal and property value
• Both New appliances — Improves functionality and appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
Appliances · Not functioning	Major	$15,000–50,000
Bathroom fixtures · Older and in poor condition	Major	$15,000–50,000
Landscaping · Overgrown and unkempt	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both Painting and updating fixtures — Improves appearance and functionality ↑
• Both Landscaping and yard work — Enhances curb appeal and property value ↑
• Both New appliances — Improves functionality and appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: North Putnam Community Schools
• NCES district ID: 1807980
• Math proficiency: 47% ▼ -12.00%
• Reading proficiency: 48% ▼ -8.00%
• Median HH income: $54,825
• Composite: 41.18/100
• National rank: #3549
• State rank: #73 of 301 in IN

Livability — Van Bibber Lake

• Score: 43/100
• State rank: #670
• US rank: #26940

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Van Bibber Lake, IN
• Population (ZIP): 19,639

Population outlook (Putnam County) Hauer SSP2

• Today (2025): 37,226 people
• By 2030: 36,723 · -1.4%
• By 2040: 35,407 · -4.9%
• By 2050: 34,177 · -8.2%
• By 2075: 32,038 · -13.9%
• By 2100: 28,380 · -23.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Black 6% Two or more races 4% Hispanic / Latino 3% Asian 2%
• Common ancestry: Italian 2% Slovak 2% Lithuanian 1%
• Foreign-born: 4% · China, Canada
• Languages at home: 96% English-only · Spanish 1% French/Haitian/Cajun 1% Other Indo-European 1%

Political lean MEDSL · Putnam

• 2024 margin: Solid R (+52.0) · D 23.1% · R 75.1% · Other 1.8%
• 2008→2024 swing: -40.0pp toward R · 2008: -12.0pp · 2024: -52.0pp
• All cycles: 2024: R+52.0 2020: R+50.2 2016: R+49.6 2012: R+32.6 2008: R+12.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -58.66%
• Current HPI: 222.8815
• 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

+226.9% since first listed

3 events — show timeline

• 2026-06-01 Listed $127,500 MIBOR as Distributed by MLS Grid
• 2016-08-03 Sold (MLS) $42,500 MIBOR as Distributed by MLS Grid
• 2016-02-10 Listed $39,000 MIBOR as Distributed by MLS Grid