59 Delicious Ct · Putnamville, IN 46171

$30,000

1 bd · 1.0 ba · 1,178 sqft · Manufactured public records · 12 Days on market

Built 2005 Est $24k · 27% over

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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
• Appreciation +6.9/10.0
• Schools +3.8/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks

BEING SOLD WITH LOT 60!! Lot 59 has a trailer on it. Needs gutted or tore down. Being sold with lot 60. With both lots it sits on an acre. (Lot 59 is 1/2 acre lot 60 is 1/2 acre) no pics of inside the house. Buy as it needs a quick sale price up for negotiation for SERIOUS buys.

Key facts

• Built 2005
• Listed 11 days

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $30k.

Deal economics

• At list price, monthly cash flow is $605 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($993 rent vs $30k).

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• South Putnam Community Schools (rural): math 40% / reading 46% proficiency, ranked #105 of 301 in IN (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 16 active listings in the ZIP; 166 units permitted in Putnam County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($207 loan paydown + $1k appreciation (3.9% local appreciation)).
• Putnam County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (3.9% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $30,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 3.31% ✓
• Cap rate: 30.50%
• Cash-on-cash: 86.45%
• DSCR: 4.85
• GRM: 2.5

CMA / ARV

• ARV (on-the-fly): $23,560
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
61 Winesap Rd	0.04mi	2/2.0 (+1)	1,192 (+1%)	10mo	$23,500	$20	79

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

Projected returns pro-forma

3.88% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 91.4%
• Equity multiple: 6.19×
• Total profit: $43,567
• Equity at exit: $14,993

10-year hold

• IRR: 90.4%
• Equity multiple: 12.83×
• Total profit: $99,397
• Equity at exit: $24,350

Cash invested: $8,400 (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 46171

• Home prices YoY: 1.5%
• Active inventory: 16
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $993 medium
• Mortgage (P&I): −$157
• Tax from tax record: −$9 /mo · $112/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$208
• Net cashflow: $605

Break-even live

Break-even rent $227

Max offer price $30,000

Occupancy floor 34%

Sensitivity live

Price	-10% $622	-5% $614	+0% $605	+5% $597	+10% $588
Rent	-10% $527	-5% $566	+0% $605	+5% $644	+10% $684
Rate	-1.0pp $620	-0.5pp $613	base $605	+0.5pp $597	+1.0pp $589

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: $7,500
• Closing costs: $900
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-21
   days on market $30,000 Active 12 DOM
2. 2026-06-18
   days on market $30,000 Active 9 DOM
3. 2026-06-17
   days on market $30,000 Active 8 DOM
4. 2026-06-16
   days on market $30,000 Active 7 DOM
5. 2026-06-15
   days on market $30,000 Active 6 DOM
6. 2026-06-13
   days on market $30,000 Active 4 DOM
7. 2026-06-10
   remarks 280-char remark
8. 2026-06-10
   listed $30,000 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: $112 · $9/mo
• Projected year-2 tax: $184 · $15/mo
• Expected delta: +$71/yr (+$6/mo · 63.5%)

ⓘ 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 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 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,914
• − Mortgage interest: −$1,680
• − Property taxes: −$112
• − Insurance: −$150
• − Repairs & maintenance: −$953
• − Management: −$953
• − Depreciation: −$873
• Taxable income: $7,192
• Est. tax owed @ 24.0%: −$1,726
• After-tax cash flow: $5,536/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: South Putnam Community Schools
• NCES district ID: 1810500
• Math proficiency: 40% ▼ -8.00%
• Reading proficiency: 46% ▼ -4.00%
• Median HH income: $55,900
• Composite: 37.53/100
• National rank: #4394
• State rank: #105 of 301 in IN

Livability — Putnamville

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 1,980

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 (99%)
• Race & ethnicity: White 99%
• Common ancestry: Italian 3% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · German/W. Germanic 2%

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: ▲ 3.88%
• Current HPI: 256.5876
• 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

1 event — show timeline

• 2026-06-09 Listed $30,000 FSBO.com

Property tax history

+1.2%/yr

Latest (2024): $112 · +89.5% YoY. Source: county tax records.