59 Delicious Ct

Putnamville, IN 46171

$30,000B-

1 bd · 1.0 ba · 1,178 sqft · Built 2005 · Manufactured · Active · 12 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $993/mo
• Mortgage (P&I): −$157
• Tax + insurance: −$22
• HOA: −$0
• Vac / Maint / Mgmt: −$208
• Net cashflow: $605/mo
• Annual: $7,262/yr
• Cap rate: 30.50%
• Cash-on-cash: 86.45%
• DSCR: 4.85
• 1% rule: 3.31%
• Cash to close: $8,400

Investor read

• This is a 1-bed/1.0-bath manufactured listed at $30k.
• 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).
• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $1k of equity ($207 loan paydown + $1k appreciation (3.9% local appreciation)).
• 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.
• Zoned schools: Central Elementary School (math 52% / reading 47%, grade D, #279 of 994 statewide, top 30%, 339 students, 48% FRL); South Putnam Middle School (math 32% / reading 36%, grade F, #173 of 330 statewide, top 53%, 264 students, 41% FRL); South Putnam High School (math 27% / reading 67%, grade D-, #143 of 369 statewide, top 44%, 374 students, 45% FRL).
• Market conditions: 16 active listings in the ZIP; 166 units permitted in Putnam County in 2024 (0 in 5+ unit buildings).
• 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.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.