4662 New Amsterdam Rd

New Amsterdam, IN 47110

$118,500C-

3 bd · 2.0 ba · 924 sqft · Built 2004 · Manufactured · Active · 47 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,019/mo
• Mortgage (P&I): −$621
• Tax + insurance: −$106
• HOA: −$0
• Vac / Maint / Mgmt: −$214
• Net cashflow: $78/mo
• Annual: $931/yr
• Cap rate: 7.08%
• Cash-on-cash: 2.81%
• DSCR: 1.12
• 1% rule: 0.86%
• Cash to close: $33,180

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $118k.
• At list price, monthly cash flow is $78 ($931/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 $102k (14.0% below list).
• It's been on market 47 days — a 3% lower offer ($115k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $102k (14.0% below list) — sets the bar for 1% rule.
• In year one you build about $8k of equity ($819 loan paydown + $7k appreciation (6.2% local appreciation)).
• Location reads 66/100 on livability (#275 in IN) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: crime C-, schools D+, amenities F.
• South Harrison Community Schools (town): math 42% / reading 50% proficiency, ranked #89 of 301 in IN (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 4 active listings in the ZIP; 158 units permitted in Harrison County in 2024 (0 in 5+ unit buildings).
• Harrison County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts 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.
• At projected returns (6.2% appreciation + 3.0% rent growth), your $33k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 47 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.
• 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.
• 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.