4112 S Lakeshore Dr · Palestine, IN 46539

$70,000

2 bd · 1.0 ba · 552 sqft · Manufactured · 40 Days on market

Built 1970 10,454 sqft lot

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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 +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Don't let this wonderful lake front getaway or year round home pass you by. This home has been in the family for many years. There's a great screened in porch and a double lot with excellent lakefront views and an unheard of 100 feet of concrete seawall that lines both lots. Fully furnished and ready for the summer! Palestine lake consists of nearly 300 acres and has lots of Bass, Bluegill, Crappie, and Yellow Perch to name a few.

Key facts

• Screened in porch
• Concrete seawall
• Lake front getaway

Tags

• LAKE FRONT GETAWAY
• SCREENED IN PORCH
• DOUBLE LOT
• LAKEFRONT VIEWS
• CONCRETE SEAWALL
• FULLY FURNISHED

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $70k.

Deal economics

• At list price, monthly cash flow is $431 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $68k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Tippecanoe Valley School Corporation (rural): math 40% / reading 42% proficiency, ranked #126 of 301 in IN (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 10 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 261 units permitted in Kosciusko County in 2024 (10 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($484 loan paydown + $7k appreciation (10.0% local appreciation)).
• Kosciusko County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $25k (26%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $67,900 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
5. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
6. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
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: 1.57% ✓
• Cap rate: 13.69%
• Cash-on-cash: 26.41%
• DSCR: 2.18
• GRM: 5.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 44.2%
• Equity multiple: 4.35×
• Total profit: $65,589
• Equity at exit: $63,062

10-year hold

• IRR: 38.3%
• Equity multiple: 9.75×
• Total profit: $171,518
• Equity at exit: $135,995

Cash invested: $19,600 (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 46539

• Home prices YoY: 12.4%
• Active inventory: 10
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,100 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$41 /mo · $496/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $431

Break-even live

Break-even rent $554

Max offer price $70,000

Occupancy floor 56%

Sensitivity live

Price	-10% $471	-5% $451	+0% $431	+5% $412	+10% $392
Rent	-10% $345	-5% $388	+0% $431	+5% $475	+10% $518
Rate	-1.0pp $467	-0.5pp $449	base $431	+0.5pp $413	+1.0pp $395

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4253 S Lakeshore Dr Mentone, IN	2.0	1.0	720	$1,100	$1.53	45d	1	0.18mi

Listing history 13 events

1. 2026-06-21
   days on market $70,000 Active 40 DOM
2. 2026-06-19
   days on market $70,000 Active 38 DOM
3. 2026-06-18
   days on market $70,000 Active 37 DOM
4. 2026-06-17
   remarks 445-char remark
5. 2026-06-17
   price $70,000 Active 36 DOM
6. 2026-06-17
   days on market $95,000 Active 36 DOM
7. 2026-06-17
   status $95,000 Active 35 DOM
8. 2026-05-31
   status $95,000 Pending 35 DOM
9. 2026-05-31
   days on market $95,000 Active 35 DOM
10. 2026-05-30
    days on market $95,000 Active 34 DOM
11. 2026-04-27
    status Active 434-char remark

    Show marketing remark (434 chars)

    Don't let this wonderful lake front getaway or year round home pass you by. This home has been in the family for many years. There's a great screened in porch and a double lot with excellent lakefront views and an unheard of 100 feet of concrete seawall that lines both lots. Fully furnished and ready for the summer! Palestine lake consists of nearly 300 acres and has lots of Bass, Bluegill, Crappie, and Yellow Perch to name a few.

12. 2026-04-22
    status Pending 434-char remark

    Show marketing remark (434 chars)

    Don't let this wonderful lake front getaway or year round home pass you by. This home has been in the family for many years. There's a great screened in porch and a double lot with excellent lakefront views and an unheard of 100 feet of concrete seawall that lines both lots. Fully furnished and ready for the summer! Palestine lake consists of nearly 300 acres and has lots of Bass, Bluegill, Crappie, and Yellow Perch to name a few.

13. 2026-04-20
    listed $95,000 Active 434-char remark

    Show marketing remark (434 chars)

    Don't let this wonderful lake front getaway or year round home pass you by. This home has been in the family for many years. There's a great screened in porch and a double lot with excellent lakefront views and an unheard of 100 feet of concrete seawall that lines both lots. Fully furnished and ready for the summer! Palestine lake consists of nearly 300 acres and has lots of Bass, Bluegill, Crappie, and Yellow Perch to name a few.

ⓘ 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: $496 · $41/mo
• Projected year-2 tax: $545 · $45/mo
• Expected delta: +$50/yr (+$4/mo · 10.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥99°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,200
• − Mortgage interest: −$3,921
• − Property taxes: −$496
• − Insurance: −$350
• − Repairs & maintenance: −$1,056
• − Management: −$1,056
• − Depreciation: −$2,036
• Taxable income: $4,285
• Est. tax owed @ 24.0%: −$1,028
• After-tax cash flow: $4,149/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: Tippecanoe Valley School Corporation
• NCES district ID: 1811370
• Math proficiency: 40% ▼ -9.00%
• Reading proficiency: 42% ▼ -5.00%
• Median HH income: $49,697
• Composite: 35.29/100
• National rank: #4969
• State rank: #126 of 301 in IN

Livability — Palestine

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

Census & demographics

• Census place: Palestine, IN
• Population (ZIP): 2,570

Population outlook (Kosciusko County) Hauer SSP2

• Today (2025): 81,747 people
• By 2030: 82,878 · +1.4%
• By 2040: 84,270 · +3.1%
• By 2050: 84,191 · +3.0%
• By 2075: 82,918 · +1.4%
• By 2100: 74,808 · -8.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 8% Two or more races 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Slovak 7% Romanian 4% Iranian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Kosciusko

• 2024 margin: Solid R (+52.3) · D 22.9% · R 75.2% · Other 1.9%
• 2008→2024 swing: -14.9pp toward R · 2008: -37.3pp · 2024: -52.3pp
• All cycles: 2024: R+52.3 2020: R+50.7 2016: R+55.1 2012: R+52.2 2008: R+37.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 35.39%
• Current HPI: 320.2829
• 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

3 events — show timeline

• 2026-04-27 Relisted — IRMLS
• 2026-04-22 Pending — IRMLS
• 2026-04-20 Listed $95,000 IRMLS

Property tax history

+2.9%/yr

Latest (2024): $496 · +10.8% YoY. Source: county tax records.