840 Bel Air Ln · DeKalb, IL 60115

$78,000

3 bd · 2.0 ba · 1,144 sqft · Manufactured · 1 Days on market

Built 2026 Good condition

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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
• ARV discount +7.5/15.0
• Rent growth +4.3/5.0
• Livability +3.9/5.0
• Condition / age +3.8/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this well-maintained 1993 Skyline Sunwood double-wide located in the quiet community of Southmoor Estates. Offering 1,144 square feet of comfortable living space, this inviting 3-bedroom, 2-bath home combines warmth, charm, and thoughtful updates throughout. Step inside and enjoy the spacious feel created by the cathedral ceilings and abundant natural light pouring through the large arched windows. The remodeled kitchen provides both style and functionality, complete with included appliances: refrigerator, gas range, microwave, washer, and dryer. Comfort and convenience continue with central air conditioning and a brand-new furnace for year-round efficiency and peace of mind

Key facts

• 8 x 10 storage shed
• Mature arborvitaes
• Remodeled kitchen

Tags

• REMODELED KITCHEN
• CENTRAL AIR CONDITIONING
• BRAND NEW FURNACE
• 12 X 30 CARPORT
• 8 X 10 STORAGE SHED
• MATURE ARBORVITAES

Property features AI

Finance

• Other: Address: 840 Bel Air Ln, DeKalb, IL 60115; Status: Active
• Financial info: List price $78,000

Exterior

• Parking: 2 parking spaces
• Utilities: Natural gas; Electricity (standard service); Public/municipal services (assumed)
• Home design: Spec-built plan: Skyline Hampshire
• Exterior features: Living area of 1144

Interior

• Kitchen: Refrigerator; Microwave
• Bedrooms: 3 bedrooms
• Bathrooms: 2 bathrooms
• Heating & cooling: Natural gas forced air heating; Central air conditioning
• Interior features: Refrigerator; Microwave
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $78k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $869 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $78k).
• Cap rate 19.7% vs local median 4.4% in DeKalb — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 77/100 on livability (#154 in IL, #2,835 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities D+, schools D, crime D-.
• Dekalb CUSD 428 (suburban): math 11% / reading 16% proficiency, ranked #541 of 620 in IL (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+7.3%/yr); 85 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 260 units permitted in DeKalb County in 2024 (73 in 5+ unit buildings).
• At $1,783/mo this rent would consume 45% of the median local household income ($47k/yr) (locally 3794% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $539 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• DeKalb County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 7.3% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $78,000

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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
3. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
4. 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.
5. 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.
6. 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: 2.29% ✓
• Cap rate: 19.66%
• Cash-on-cash: 47.76%
• DSCR: 3.12
• GRM: 3.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 7.33% rent growth · sell at horizon

5-year hold

• IRR: 50.0%
• Equity multiple: 3.33×
• Total profit: $50,850
• Equity at exit: $11,630

10-year hold

• IRR: 57.3%
• Equity multiple: 7.96×
• Total profit: $152,040
• Equity at exit: $6,744

Cash invested: $21,840 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 43 Moderately Tenant-Leaning
• State Illinois: 43 Moderately Tenant-Leaning · D+7
• County: — inherits STATE
• City: — inherits STATE

Chicago RTLO is among the strongest tenant ordinances in the Midwest; downstate is more landlord-friendly.

Methodology + full state rankings →

ZIP-level market 60115

• Home prices YoY: -31.9%
• Rents YoY: 7.3%
• Active inventory: 85
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,783 medium
• Mortgage (P&I): −$409
• Tax est. 1.5%: −$98 /mo · $1,170/yr
• Insurance: −$32
• HOA: −$0
• Vacancy / Maint / Mgmt: −$374
• Net cashflow: $869

Break-even live

Break-even rent $682

Max offer price $78,000

Occupancy floor 46%

Sensitivity live

Price	-10% $923	-5% $896	+0% $869	+5% $842	+10% $815
Rent	-10% $728	-5% $799	+0% $869	+5% $940	+10% $1,010
Rate	-1.0pp $908	-0.5pp $889	base $869	+0.5pp $849	+1.0pp $828

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: $19,500
• Closing costs: $2,340
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
219 S 7th St DeKalb, IL	2.0	1.5	1054	$1,700	$1.61	7d	1	0.48mi
172 Oak Dr DeKalb, IL	3.0	1.0	950	$2,000	$2.11	21d	1	1.46mi

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 21% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°F today · 15 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: $21,391
• − Mortgage interest: −$4,369
• − Property taxes: −$1,170
• − Insurance: −$390
• − Repairs & maintenance: −$1,711
• − Management: −$1,711
• − Depreciation: −$2,269
• Taxable income: $9,770
• Est. tax owed @ 24.0%: −$2,345
• After-tax cash flow: $8,085/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.

Condition & rehab AI · 30 photos

Good 75/100 Cosmetic rehab

This well-maintained 1993 Skyline Sunwood double-wide is in good condition with a good exterior, interior, and landscaping. It has a good foundation and structure, and the HVAC and mechanical systems appear to be in good condition. The home has a good curb appeal and is move-in ready.

Value-add opportunities

• Both Paint the exterior siding — Fresh paint can enhance the curb appeal and increase the home's value.
• Both Replace the flooring in the living areas — New flooring can improve the home's appearance and increase its value.
• Both Update the kitchen cabinets and countertops — Fresh kitchen updates can increase the home's value and appeal to potential buyers.
• Both Install new windows — New windows can improve energy efficiency and increase the home's value.
• Both Upgrade the HVAC system — A new HVAC system can improve comfort and energy efficiency, increasing the home's value.
• Both Landscaping improvements — Well-maintained landscaping can enhance the home's curb appeal and increase its value.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the exterior siding — Fresh paint can enhance the curb appeal and increase the home's value. ↑
• Both Replace the flooring in the living areas — New flooring can improve the home's appearance and increase its value. ↑
• Both Update the kitchen cabinets and countertops — Fresh kitchen updates can increase the home's value and appeal to potential buyers. ↑
• Both Install new windows — New windows can improve energy efficiency and increase the home's value. ↑
• Both Upgrade the HVAC system — A new HVAC system can improve comfort and energy efficiency, increasing the home's value. ↑
• Both Landscaping improvements — Well-maintained landscaping can enhance the home's curb appeal and increase its value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Dekalb CUSD 428
• NCES district ID: 1712000
• Math proficiency: 11% ▼ -9.00%
• Reading proficiency: 16% ▼ -6.00%
• Median HH income: $42,007
• Composite: 11.74/100
• National rank: #9685
• State rank: #541 of 620 in IL

Livability — DeKalb

• Score: 77/100
• State rank: #154
• US rank: #2835

Category grades

Amenities D+ Commute A+ Cost of living A+ Crime D- Employment F Housing A+ Health & safety A+ User ratings B-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: DeKalb, IL
• County: DeKalb County · 64,760 people
• City population: 42,536
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 42,536
• Household income: $47,043
• Rent vs Own: 57.0% rent · 43.0% own
• Severe rent burden: 3794.0

Population outlook (DeKalb County) Hauer SSP2

• Today (2025): 104,983 people
• By 2030: 104,428 · -0.5%
• By 2040: 102,199 · -2.7%
• By 2050: 99,303 · -5.4%
• By 2075: 93,978 · -10.5%
• By 2100: 88,527 · -15.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 58% Hispanic / Latino 18% Black 15% Two or more races 12% Asian 4%
• Hispanic origin (detail): Mexican 14% Puerto Rican 2%
• Common ancestry: Romanian 5% Portuguese 3% Lithuanian 2%
• Foreign-born: 9% · Canada, China
• Languages at home: 82% English-only · Spanish 10% Arabic 2% Other Indo-European 2%

Political lean MEDSL · DeKalb

• 2024 margin: Toss-up / Even · D 50.1% · R 48.1% · Other 1.7%
• 2008→2024 swing: -14.8pp toward R · 2008: 16.8pp · 2024: 2.0pp
• All cycles: 2024: D+2.0 2020: D+5.7 2016: D+3.0 2012: D+5.5 2008: D+16.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -89.56%
• Current HPI: 191.1189
• Rent YoY: ▲ 7.33%
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• State GDP YoY: ▲ 1.59%
• F500 in state: 60

Industry mix (Fortune 500 HQ in IL)

Industry	F500 HQs	Revenue
▸Insurance	4	$201B
▸Consumer Goods	4	$87B
▸Industrial Machinery	3	$64B
▸Healthcare	2	$55B
▸Retail / Pharmacy	1	$148B
▸Agriculture / Food	1	$86B