12861 E Shady Meadows Mdws

Stanford, IN 47459

$88,000B

3 bd · 2.0 ba · 980 sqft · Built 2002 · Manufactured · Active · 41 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,448/mo
• Mortgage (P&I): −$461
• Tax + insurance: −$147
• HOA: −$0
• Vac / Maint / Mgmt: −$304
• Net cashflow: $536/mo
• Annual: $6,432/yr
• Cap rate: 13.60%
• Cash-on-cash: 26.10%
• DSCR: 2.16
• 1% rule: 1.65%
• Cash to close: $24,640

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $88k.
• At list price, monthly cash flow is $536 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $88k).
• It's been on market 41 days — a 3% lower offer ($85k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $85k (3.0% below list) — sets the bar for market timing.
• In year one you build about $4k of equity ($608 loan paydown + $3k appreciation (3.5% local appreciation)).
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Eastern Greene Schools (rural): math 31% / reading 37% proficiency, ranked #199 of 301 in IN (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Eastern Greene Elementary School (math 32% / reading 27%, grade F, #697 of 994 statewide, top 73%, 433 students, 54% FRL); Eastern Greene Middle School (math 27% / reading 33%, grade F, #208 of 330 statewide, top 64%, 349 students, 51% FRL); Eastern Greene High School (math 42% / reading 77%, grade C+, #49 of 369 statewide, top 16%, 334 students, 43% FRL).
• Market conditions: 25 active listings in the ZIP.
• Greene County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 5 sale attempts; this cycle's ask is 4% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• At projected returns (3.5% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% 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.
• 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.