115 Cedar Ridge Trl · Angola, IN 46703

$80,000

1 bd · 1.0 ba · 450 sqft · Manufactured · 219 Days on market

Built 2020 Excellent condition 0.50 ac lot $178/sqft · 35% above area Est $59k · 35% over $54/mo HOA · 6% of rent

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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 +17.0/30.0
• 1% rule +5.5/10.0
• DSCR +5.3/10.0
• Schools +5.0/10.0
• Condition / age +4.8/5.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful 2020 Keystone Retreat RV on a Double Lot!! Affordable Paradise at "Valley of the Pines"! A seasonal community (April 15 - Oct 15) on Eldo Lake, located just a few hundred feet from Lake James. Relax under the trees and enjoy the serenity of this move-in ready home, on your half acre private wooded lot. 1 Bedroom PLUS 2 separate lofts provide multiple sleeping areas. Fireplace and built-in entertainment system with large screen TV. Serene park-like setting with 2 sheds and a large firepit. "The Valley" is golf cart friendly and amenities include fishing, swimming, clubhouse, shuffleboard, basketball, horseshoes, paddle boats, and a playground. Annual dues of$650 include water, trash, and community maintenance. May be seen by appointment only.

Key facts

• Double lot
• Private wooded lot
• Golf cart friendly

Tags

• DOUBLE LOT
• PRIVATE WOODED LOT
• BUILT-IN ENTERTAINMENT SYSTEM
• LARGE FIREPIT
• GOLF CART FRIENDLY

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $80k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $55 ($655/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($837 rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.1% vs local median 2.7% in Angola — 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 66/100 on livability (#309 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: amenities F, commute F, employment D-.
• Zoned schools: Ryan Park Elementary School (math 57% / reading 47%, grade C-, #237 of 994 statewide, top 26%, 398 students, 45% FRL); Angola Middle School (math 36% / reading 44%, grade F, #120 of 330 statewide, top 37%, 557 students, 53% FRL); Angola High School (math 42% / reading 67%, grade C-, #79 of 369 statewide, top 26%, 785 students, 43% FRL).
• Market conditions: 10 active listings in the ZIP; 209 units permitted in Steuben County in 2024 (72 in 5+ unit buildings).
• This rent is only 13% of the median local income ($75k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $553 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Steuben County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 219 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.

Recommended offer $70,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 219 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. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.05% ✓
• Cap rate: 7.11%
• Cash-on-cash: 2.93%
• DSCR: 1.13
• GRM: 8.0

CMA / ARV

• ARV (median comp): $59,230
• List price: $80,000
• Delta: 35.07%
• Verdict: OVERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
100 Woodland Pass Vop Pass	0.18mi	1/1.0	400 (-11%)	1mo	$80,000	$200	72
500 Timber Vop Pass	0.10mi	1/1.0	400 (-11%)	12mo	$83,900	$210	66
140 Woodland Pass	0.20mi	1/1.0	400 (-11%)	9mo	$57,900	$145	65
100 Valley Gorge Pass	0.20mi	1/1.0	400 (-11%)	12mo	$32,900	$82	62
255 Pine Lake Pass	0.19mi	1/1.0	400 (-11%)	15mo	$47,500	$119	60

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: -11.6%
• Equity multiple: 0.58×
• Total profit: $-9,439
• Equity at exit: $11,928

10-year hold

• IRR: -2.3%
• Equity multiple: 0.84×
• Total profit: $-3,555
• Equity at exit: $6,917

Cash invested: $22,400 (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 46703

• Home prices YoY: -27.1%
• Active inventory: 10
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $837 medium
• Mortgage (P&I): −$420
• Tax est. 1.5%: −$100 /mo · $1,200/yr
• Insurance: −$33
• HOA: −$54
• Vacancy / Maint / Mgmt: −$176
• Net cashflow: $55

Break-even live

Break-even rent $768

Max offer price $80,000

Occupancy floor 88%

Sensitivity live

Price	-10% $110	-5% $82	+0% $55	+5% $27	+10% $-1
Rent	-10% $-12	-5% $22	+0% $55	+5% $88	+10% $121
Rate	-1.0pp $95	-0.5pp $75	base $55	+0.5pp $34	+1.0pp $13

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $54 · $648/yr
• Likely covers: watertrash

Listing history 9 events

1. 2026-06-12
   statusdays on market $80,000 Pending 219 DOM
2. 2026-06-09
   days on market $80,000 Active 217 DOM
3. 2026-06-08
   days on market $80,000 Active 216 DOM
4. 2026-06-07
   days on market $80,000 Active 215 DOM
5. 2026-06-04
   days on market $80,000 Active 211 DOM
6. 2026-06-02
   days on market $80,000 Active 210 DOM
7. 2026-06-01
   days on market $80,000 Active 209 DOM
8. 2026-05-31
   days on market $80,000 Active 208 DOM
9. 2025-11-05
   listed $80,000 Active 781-char remark

   Show marketing remark (781 chars)

   Beautiful 2020 Keystone Retreat RV on a Double Lot!! Affordable Paradise at "Valley of the Pines"! A seasonal community (April 15 - Oct 15) on Eldo Lake, located just a few hundred feet from Lake James. Relax under the trees and enjoy the serenity of this move-in ready home, on your half acre private wooded lot. 1 Bedroom PLUS 2 separate lofts provide multiple sleeping areas. Fireplace and built-in entertainment system with large screen TV. Serene park-like setting with 2 sheds and a large firepit. "The Valley" is golf cart friendly and amenities include fishing, swimming, clubhouse, shuffleboard, basketball, horseshoes, paddle boats, and a playground. Annual dues of$650 include water, trash, and community maintenance. May be seen by appointment only.

ⓘ 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 1/10 Low 6 d/yr ≥98°F today · 13 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: $10,048
• − Mortgage interest: −$4,481
• − Property taxes: −$1,200
• − Insurance: −$400
• − Repairs & maintenance: −$804
• − Management: −$804
• − HOA: −$648
• − Depreciation: −$2,327
• Taxable loss: −$616
• Est. tax savings @ 24.0%: +$148
• After-tax cash flow: $803/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

Excellent 95/100 None rehab

This 2020 Keystone Retreat RV is in excellent condition with no visible repairs needed. It offers a move-in ready living space with modern amenities and a serene park-like setting.

Value-add opportunities

• Both Landscaping improvements — Enhances curb appeal and adds value for both resale and rental.
• Both Fire pit maintenance — Maintains the amenity and adds value for both resale and rental.

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping improvements — Enhances curb appeal and adds value for both resale and rental. ↑
• Both Fire pit maintenance — Maintains the amenity and adds value for both resale and rental. ↑

ⓘ 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)

No district data.

Livability — Angola

• Score: 66/100
• State rank: #309
• US rank: #12201

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Steuben County · 18,572 people
• City population: 18,572
• Metro: Angola, IN
• Population (ZIP): 18,572
• Household income: $74,569
• Rent vs Own: 27.8% rent · 72.2% own
• Severe rent burden: 433.0

Population outlook (Steuben County) Hauer SSP2

• Today (2025): 34,334 people
• By 2030: 33,801 · -1.6%
• By 2040: 32,076 · -6.6%
• By 2050: 30,022 · -12.6%
• By 2075: 25,626 · -25.4%
• By 2100: 21,257 · -38.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 6% Two or more races 5% Black 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 3% Lithuanian 2% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Steuben

• 2024 margin: Solid R (+42.1) · D 28.1% · R 70.2% · Other 1.6%
• 2008→2024 swing: -32.3pp toward R · 2008: -9.8pp · 2024: -42.1pp
• All cycles: 2024: R+42.1 2020: R+42.2 2016: R+44.0 2012: R+27.0 2008: R+9.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -78.35%
• Current HPI: 211.2495
• Rent YoY: —
• Metro: Angola, 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

1 event — show timeline

• 2025-11-05 Listed $80,000 IRMLS