10848 Edgewood Dr

Roselawn, IN 46310

$140,000C

3 bd · 2.0 ba · 1,404 sqft · Built 1994 · Manufactured · Pending · 2 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,247/mo
• Mortgage (P&I): −$734
• Tax + insurance: −$110
• HOA: −$0
• Vac / Maint / Mgmt: −$262
• Net cashflow: $141/mo
• Annual: $1,687/yr
• Cap rate: 7.50%
• Cash-on-cash: 4.30%
• DSCR: 1.19
• 1% rule: 0.89%
• Cash to close: $39,200

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $140k.
• At list price, monthly cash flow is $141 ($2k/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 $125k (10.9% below list).
• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $125k (10.9% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $968 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#324 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Kankakee Valley School Corporation (rural): math 47% / reading 54% proficiency, ranked #45 of 301 in IN (top 15%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 102 active listings in the ZIP; 93 units permitted in Jasper County in 2024 (5 in 5+ unit buildings).
• Jasper County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Questions for listing agent

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