342 Someday Way · Cloverdale, IN 46120

$50,000

2 bd · 2.0 ba · 1,216 sqft · Manufactured public records · 165 Days on market

Built 1995 7,187 sqft lot $41/sqft · 61% below area $17/mo HOA · 2% of rent ↓ 39% since listing

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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
• Appreciation +4.4/10.0
• Livability +3.5/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Tucked away, this inviting home in the Cloverdale is just waiting for you to make it your own little slice of paradise. Ready to move in, this single-wide manufactured home is like a blank canvas for your dreams! Imagine waking up in your bedroom, where the crown molding adds a touch of elegance, making every day feel a little more special. Picture yourself unwinding in the living room, the wood wall creating a cozy and stylish ambiance, perfect for movie nights or quiet evenings with a good book. With 1216 square feet of living area nestled on a 7187 square feet lot, you'll have all the space you need to spread out and enjoy life to the fullest in this one story manufactured home. There are 2 full bathrooms. Built in 1995, this property has been waiting for you. This could be the beginning of your someday, so don't let it pass you by! This home is for sale by Auction with Abundant Auctions. Please visit their site for more info and to place a bid. Auction period will be from January 16th and ends January 19th at 7 PM. Offers reviewed prior to auction end date. The land comes with the home as well with no fees.

Key facts

• 7,187 sq ft lot
• Built 1995
• Listed 165 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $50k.

Deal economics

• At list price, monthly cash flow is $460 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.
• Cap rate 17.3% vs local median 3.5% in Cloverdale — 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 (#156 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools C-, amenities F, commute F.
• Cloverdale Community Schools (rural): math 36% / reading 40% proficiency, ranked #167 of 301 in IN (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 65 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 (-1.2%/yr); year-one equity from $346 of loan paydown is wiped out by about $609 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.
• At projected returns (-1.2% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 165 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.

Recommended offer $44,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 165 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 2.08% ✓
• Cap rate: 17.33%
• Cash-on-cash: 39.41%
• DSCR: 2.75
• GRM: 4.0

CMA / ARV

• ARV (median comp): $127,500
• List price: $50,000
• Delta: -60.78%
• Verdict: UNDERPRICED
• Comps: 16 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
157 Lazy River Rd	0.19mi	2/2.0	1,216 (0%)	0mo	$130,000	$107	91
94 Small Fry Ave	0.14mi	2/2.0	1,216 (0%)	4mo	$125,000	$103	90
384 Cool Evening Ct	0.10mi	3/2.0 (+1)	1,232 (+1%)	6mo	$92,000	$75	83
334 Small Fry Ave	0.10mi	3/2.0 (+1)	1,188 (-2%)	6mo	$172,900	$146	82
125 Oriole Ct	0.18mi	3/1.0 (+1)	1,216 (0%)	2mo	$142,900	$118	82
289 Bubble Loo Rd	0.17mi	3/2.0 (+1)	1,216 (0%)	14mo	$157,000	$129	76
597 Lazy River Rd	0.20mi	3/2.0 (+1)	1,188 (-2%)	9mo	$165,000	$139	74
261 Down Boy Way	0.18mi	2/2.0	1,104 (-9%)	5mo	$142,000	$129	72
362 Gentlemen Pl	0.08mi	3/2.0 (+1)	1,140 (-6%)	18mo	$102,600	$90	66
179 Lazy River Ct	0.31mi	2/1.5	1,152 (-5%)	11mo	$139,900	$121	66
288 Bubble Loo Rd	0.17mi	3/2.0 (+1)	1,064 (-12%)	11mo	$79,900	$75	57
443 Stardust Way	0.29mi	3/2.0 (+1)	1,323 (+9%)	15mo	$150,000	$113	55

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

Projected returns pro-forma

-1.22% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 38.5%
• Equity multiple: 2.79×
• Total profit: $25,052
• Equity at exit: $11,548

10-year hold

• IRR: 43.0%
• Equity multiple: 5.51×
• Total profit: $63,198
• Equity at exit: $11,687

Cash invested: $14,000 (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 46120

• Home prices YoY: -0.5%
• Active inventory: 65
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,041 medium
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $750/yr
• Insurance: −$21
• HOA: −$17
• Vacancy / Maint / Mgmt: −$219
• Net cashflow: $460

Break-even live

Break-even rent $459

Max offer price $50,000

Occupancy floor 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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $17 · $204/yr

Listing history 2 events

1. 2025-12-16
   price $50,000 1129-char remark

   Show marketing remark (1129 chars)

   Tucked away, this inviting home in the Cloverdale is just waiting for you to make it your own little slice of paradise. Ready to move in, this single-wide manufactured home is like a blank canvas for your dreams! Imagine waking up in your bedroom, where the crown molding adds a touch of elegance, making every day feel a little more special. Picture yourself unwinding in the living room, the wood wall creating a cozy and stylish ambiance, perfect for movie nights or quiet evenings with a good book. With 1216 square feet of living area nestled on a 7187 square feet lot, you'll have all the space you need to spread out and enjoy life to the fullest in this one story manufactured home. There are 2 full bathrooms. Built in 1995, this property has been waiting for you. This could be the beginning of your someday, so don't let it pass you by! This home is for sale by Auction with Abundant Auctions. Please visit their site for more info and to place a bid. Auction period will be from January 16th and ends January 19th at 7 PM. Offers reviewed prior to auction end date. The land comes with the home as well with no fees.

2. 2025-12-15
   listed $82,500 Active 1129-char remark

   Show marketing remark (1129 chars)

   Tucked away, this inviting home in the Cloverdale is just waiting for you to make it your own little slice of paradise. Ready to move in, this single-wide manufactured home is like a blank canvas for your dreams! Imagine waking up in your bedroom, where the crown molding adds a touch of elegance, making every day feel a little more special. Picture yourself unwinding in the living room, the wood wall creating a cozy and stylish ambiance, perfect for movie nights or quiet evenings with a good book. With 1216 square feet of living area nestled on a 7187 square feet lot, you'll have all the space you need to spread out and enjoy life to the fullest in this one story manufactured home. There are 2 full bathrooms. Built in 1995, this property has been waiting for you. This could be the beginning of your someday, so don't let it pass you by! This home is for sale by Auction with Abundant Auctions. Please visit their site for more info and to place a bid. Auction period will be from January 16th and ends January 19th at 7 PM. Offers reviewed prior to auction end date. The land comes with the home as well with no fees.

ⓘ 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 ≥103°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,490
• − Mortgage interest: −$2,801
• − Property taxes: −$750
• − Insurance: −$250
• − Repairs & maintenance: −$999
• − Management: −$999
• − HOA: −$204
• − Depreciation: −$1,455
• Taxable income: $5,033
• Est. tax owed @ 24.0%: −$1,208
• After-tax cash flow: $4,309/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: Cloverdale Community Schools
• NCES district ID: 1802220
• Math proficiency: 36% ▼ -16.00%
• Reading proficiency: 40% ▼ -14.00%
• Median HH income: $44,267
• Composite: 32.28/100
• National rank: #5753
• State rank: #167 of 301 in IN

Livability — Cloverdale

• Score: 70/100
• State rank: #156
• US rank: #7715

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cloverdale, IN
• City population: 6,138
• Population (ZIP): 6,138

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 (97%)
• Race & ethnicity: White 97% Two or more races 1% Black 1%
• Common ancestry: Slovak 3% Lithuanian 2% Iranian 2%
• Foreign-born: 1%
• Languages at home: 99% English-only · Spanish 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: ▼ -1.22%
• Current HPI: 235.6828
• 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

-39.4% since first listed

2 events — show timeline

• 2025-12-16 Price Changed $50,000 MIBOR as Distributed by MLS Grid
• 2025-12-15 Listed $82,500 MIBOR as Distributed by MLS Grid

Property tax history

-15.5%/yr

Latest (2015): $30 · -28.6% YoY. Source: county tax records.