207 Viola Dr · Freeport, IL 61032

$23,500

2 bd · 1.0 ba · 924 sqft · Other · 22 Days on market

Built 1979 Fair 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
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks

this is a two-bedroom one bath 924 ft. & Acirc; & sup2; mobile home. Was recently remodeled with laminate flooring throughout. washer and dryer refrigerator and stove are included in the sale of home. the stove is a GE 5 burner double oven lower oven features an air fryer and conviction oven and is less than a year old was purchased brand-new. It has a good-sized yard with an 8 x 10 shed on a concrete slab also included in the sale is a lawnmower and we whacker.

Key facts

• 8 x 10 shed
• Included lawnmower
• Included we whacker

Tags

• GE 5 BURNER DOUBLE OVEN
• GOOD-SIZED YARD
• 8 X 10 SHED
• INCLUDED LAWNMOWER
• INCLUDED WE WHACKER

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $24k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $488 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($823 rent vs $24k).
• Recommended offer: $23k (1.5% below list) — sets the bar for market timing.
• Cap rate 31.2% vs local median 5.8% in Freeport — 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 72/100 on livability (#302 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: schools F, commute F, employment F.
• Freeport SD 145 (town): math 11% / reading 12% proficiency, ranked #565 of 620 in IL (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 197 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 7 units permitted in Stephenson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $162 of loan paydown is wiped out by about $705 of value loss. Plan a longer hold.
• Stephenson County population projected at -29% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($23k) is reasonable based on typical stale-listing flexibility.

Recommended offer $23,147 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1979 — 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. 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?
5. 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.
6. 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.
7. 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: 3.50% ✓
• Cap rate: 31.19%
• Cash-on-cash: 88.93%
• DSCR: 4.96
• GRM: 2.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 89.6%
• Equity multiple: 5.14×
• Total profit: $27,262
• Equity at exit: $3,504

10-year hold

• IRR: 92.5%
• Equity multiple: 10.69×
• Total profit: $63,781
• Equity at exit: $2,032

Cash invested: $6,580 (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 61032

• Home prices YoY: -19.5%
• Active inventory: 197
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $823 medium
• Mortgage (P&I): −$123
• Tax est. 1.5%: −$29 /mo · $352/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$173
• Net cashflow: $488

Break-even live

Break-even rent $206

Max offer price $23,500

Occupancy floor 36%

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: $5,875
• Closing costs: $705
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2284 W Galena Ave Unit WRE 027H Freeport, IL	2.0	1.0	684	$800	$1.17	44d	1	0.10mi
1436 W American St Freeport, IL	2.0	1.0	714	$1,100	$1.54	44d	1	1.32mi

Listing history 16 events

1. 2026-06-18
   days on market $23,500 Active 22 DOM
2. 2026-06-17
   days on market $23,500 Active 21 DOM
3. 2026-06-16
   days on market $23,500 Active 20 DOM
4. 2026-06-15
   days on market $23,500 Active 19 DOM
5. 2026-06-13
   days on market $23,500 Active 17 DOM
6. 2026-06-12
   days on market $23,500 Active 16 DOM
7. 2026-06-09
   days on market $23,500 Active 13 DOM
8. 2026-06-08
   days on market $23,500 Active 12 DOM
9. 2026-06-07
   days on market $23,500 Active 11 DOM
10. 2026-06-07
    days on market $23,500 Active 10 DOM
11. 2026-06-04
    days on market $23,500 Active 7 DOM
12. 2026-06-02
    days on market $23,500 Active 6 DOM
13. 2026-06-01
    days on market $23,500 Active 5 DOM
14. 2026-05-31
    days on market $23,500 Active 4 DOM
15. 2026-05-31
    days on market $23,500 Active 3 DOM
16. 2026-05-28
    listed $23,500 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,874
• − Mortgage interest: −$1,316
• − Property taxes: −$352
• − Insurance: −$118
• − Repairs & maintenance: −$790
• − Management: −$790
• − Depreciation: −$684
• Taxable income: $5,824
• Est. tax owed @ 24.0%: −$1,398
• After-tax cash flow: $4,454/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 · 1 photo

Fair 45/100 Moderate rehab

This two-bedroom mobile home has good interior and exterior features but requires minor repairs and painting to enhance its value.

Repairs flagged

• Minor ceiling — slight discoloration
• Minor baseboards — slight wear

Value-add opportunities

• Both paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both replace ceiling — Minor discoloration indicates potential water damage
• Both repair baseboards — Minor wear can be easily fixed and improves home's appearance

Renovation cost estimate screening

Repair item	Severity	Est. cost
ceiling · slight discoloration	Minor	$500–3,000
baseboards · slight wear	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both replace ceiling — Minor discoloration indicates potential water damage ↑
• Both repair baseboards — Minor wear can be easily fixed and improves home's appearance ↑

ⓘ 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: Freeport SD 145
• NCES district ID: 1715900
• Math proficiency: 11% ▼ -3.00%
• Reading proficiency: 12% ▼ -5.00%
• Median HH income: $39,803
• Composite: 9.89/100
• National rank: #9821
• State rank: #565 of 620 in IL

Livability — Freeport

• Score: 72/100
• State rank: #302
• US rank: #5927

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Freeport, IL
• Population (ZIP): 29,072

Population outlook (Stephenson County) Hauer SSP2

• Today (2025): 41,802 people
• By 2030: 39,487 · -5.5%
• By 2040: 34,534 · -17.4%
• By 2050: 29,693 · -29.0%
• By 2075: 21,196 · -49.3%
• By 2100: 14,596 · -65.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Black 12% Two or more races 10% Hispanic / Latino 6% Asian 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Iranian 3% Romanian 2% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3% Other Indo-European 1%

Political lean MEDSL · Stephenson

• 2024 margin: R (+19.4) · D 39.5% · R 58.9% · Other 1.6%
• 2008→2024 swing: -26.1pp toward R · 2008: 6.7pp · 2024: -19.4pp
• All cycles: 2024: R+19.4 2020: R+15.7 2016: R+17.0 2012: R+4.6 2008: D+6.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -39.75%
• Current HPI: 163.677
• Rent YoY: —
• Metro: —
• 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

Price history

1 event — show timeline

• 2026-05-28 Listed $23,500 FSBO.com