2282 Logan Rd · West Frankfort, IL 62896

$165,000

3 bd · 2.0 ba · 1,232 sqft · SingleFamily · 136 Days on market

Built 1997 2.50 ac lot $134/sqft · 13% below area Est $191k · 13% under

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Why this score? — see what drove the D 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).

• ARV discount +13.6/15.0
• Cash flow +11.8/30.0
• DSCR +3.5/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• Schools +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

3 bedroom 2 bathroom manufactured home sitting on a secluded 2.5 acres between West Frankfort and Thompsonville. Mature shade trees fill the yard. There is a 30x40 3 bay garage and an additional 1 car garage! The updated master suite has luxury vinyl plank flooring throughout and a walk-in closet. Large windows in the front room allow for plenty of natural light and a great view of the yard. The eat-in kitchen has luxury vinyl plank flooring as well and has also been recently updated. Nice wooden deck coming off the back of the house. Call your broker today to schedule a showing!

Key facts

• Wooded acres
• Outdoor space
• Large storage shed

Tags

• WOODED ACRES
• CLIMATE-CONTROLLED GARAGE
• DETACHED GARAGE
• LARGE STORAGE SHED
• OUTDOOR SPACE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $-44 ($-532/yr) — negative.
• To cash-flow at today's rent, offer at most $157k (4.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $123k (25.6% below list).
• Recommended offer: $123k (25.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 56/100 on livability (#1,210 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime D, schools F, amenities F.
• Frankfort CUSD 168 (town): math 6% / reading 16% proficiency, ranked #577 of 620 in IL (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 90 active listings in the ZIP; 17 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Franklin County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 136 days — a 12% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y ago; this cycle's ask is 40% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $120k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $122,707 (25.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 136 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.74% ✗
• Cap rate: 5.97%
• Cash-on-cash: -1.15%
• DSCR: 0.95
• GRM: 11.2

CMA / ARV

• ARV (median comp): $190,683
• List price: $165,000
• Delta: -13.47%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -18.2%
• Equity multiple: 0.36×
• Total profit: $-29,618
• Equity at exit: $24,602

10-year hold

• IRR: -10.6%
• Equity multiple: 0.36×
• Total profit: $-29,665
• Equity at exit: $14,266

Cash invested: $46,200 (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 62896

• Active inventory: 90
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $1,227 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$80 /mo · $956/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $-44

Break-even live

Break-even rent $1,283

Max offer price $157,174

Occupancy floor 99%

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-18
   days on market $165,000 Active 136 DOM
2. 2026-06-17
   days on market $165,000 Active 135 DOM
3. 2026-06-16
   days on market $165,000 Active 134 DOM
4. 2026-06-15
   days on market $165,000 Active 133 DOM
5. 2026-06-13
   days on market $165,000 Active 131 DOM
6. 2026-06-12
   days on market $165,000 Active 130 DOM
7. 2026-06-09
   days on market $165,000 Active 127 DOM
8. 2026-06-08
   days on market $165,000 Active 126 DOM
9. 2026-06-07
   days on market $165,000 Active 125 DOM
10. 2026-06-04
    status $165,000 Active 121 DOM
11. 2026-05-17
    status Pending
12. 2026-05-04
    status Active
13. 2026-04-02
    status Pending
14. 2026-03-24
    price $165,000
15. 2026-01-12
    price $179,500
16. 2026-01-08
    price $185,000
17. 2026-01-06
    historical
18. 2026-01-05
    price $179,500
19. 2025-12-09
    listed Active
20. 2022-07-25
    soldstatus $119,600 586-char remark

    Show marketing remark (586 chars)

    3 bedroom 2 bathroom manufactured home sitting on a secluded 2.5 acres between West Frankfort and Thompsonville. Mature shade trees fill the yard. There is a 30x40 3 bay garage and an additional 1 car garage! The updated master suite has luxury vinyl plank flooring throughout and a walk-in closet. Large windows in the front room allow for plenty of natural light and a great view of the yard. The eat-in kitchen has luxury vinyl plank flooring as well and has also been recently updated. Nice wooden deck coming off the back of the house. Call your broker today to schedule a showing!

21. 2022-07-25
    soldstatus $119,600 Closed 586-char remark

    Show marketing remark (586 chars)

    3 bedroom 2 bathroom manufactured home sitting on a secluded 2.5 acres between West Frankfort and Thompsonville. Mature shade trees fill the yard. There is a 30x40 3 bay garage and an additional 1 car garage! The updated master suite has luxury vinyl plank flooring throughout and a walk-in closet. Large windows in the front room allow for plenty of natural light and a great view of the yard. The eat-in kitchen has luxury vinyl plank flooring as well and has also been recently updated. Nice wooden deck coming off the back of the house. Call your broker today to schedule a showing!

22. 2022-05-11
    historical Under Contract 586-char remark

    Show marketing remark (586 chars)

    3 bedroom 2 bathroom manufactured home sitting on a secluded 2.5 acres between West Frankfort and Thompsonville. Mature shade trees fill the yard. There is a 30x40 3 bay garage and an additional 1 car garage! The updated master suite has luxury vinyl plank flooring throughout and a walk-in closet. Large windows in the front room allow for plenty of natural light and a great view of the yard. The eat-in kitchen has luxury vinyl plank flooring as well and has also been recently updated. Nice wooden deck coming off the back of the house. Call your broker today to schedule a showing!

23. 2022-05-07
    status Pending 586-char remark

    Show marketing remark (586 chars)

    3 bedroom 2 bathroom manufactured home sitting on a secluded 2.5 acres between West Frankfort and Thompsonville. Mature shade trees fill the yard. There is a 30x40 3 bay garage and an additional 1 car garage! The updated master suite has luxury vinyl plank flooring throughout and a walk-in closet. Large windows in the front room allow for plenty of natural light and a great view of the yard. The eat-in kitchen has luxury vinyl plank flooring as well and has also been recently updated. Nice wooden deck coming off the back of the house. Call your broker today to schedule a showing!

24. 2022-05-05
    listed $117,900 586-char remark

    Show marketing remark (586 chars)

    3 bedroom 2 bathroom manufactured home sitting on a secluded 2.5 acres between West Frankfort and Thompsonville. Mature shade trees fill the yard. There is a 30x40 3 bay garage and an additional 1 car garage! The updated master suite has luxury vinyl plank flooring throughout and a walk-in closet. Large windows in the front room allow for plenty of natural light and a great view of the yard. The eat-in kitchen has luxury vinyl plank flooring as well and has also been recently updated. Nice wooden deck coming off the back of the house. Call your broker today to schedule a showing!

25. 2022-05-05
    listed $117,900 Active 586-char remark

    Show marketing remark (586 chars)

    3 bedroom 2 bathroom manufactured home sitting on a secluded 2.5 acres between West Frankfort and Thompsonville. Mature shade trees fill the yard. There is a 30x40 3 bay garage and an additional 1 car garage! The updated master suite has luxury vinyl plank flooring throughout and a walk-in closet. Large windows in the front room allow for plenty of natural light and a great view of the yard. The eat-in kitchen has luxury vinyl plank flooring as well and has also been recently updated. Nice wooden deck coming off the back of the house. Call your broker today to schedule a showing!

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

Tax reassessment forecast IL · Partial reset (capped growth)

• Current annual tax: $956 · $80/mo
• Projected year-2 tax: $2,351 · $196/mo
• Expected delta: +$1,395/yr (+$116/mo · 145.9%)

ⓘ 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 4/10 Moderate 7 d/yr ≥107°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,725
• − Mortgage interest: −$9,243
• − Property taxes: −$956
• − Insurance: −$825
• − Repairs & maintenance: −$1,178
• − Management: −$1,178
• − Depreciation: −$4,800
• Taxable loss: −$3,455
• Est. tax savings @ 24.0%: +$829
• After-tax cash flow: $297/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: Frankfort CUSD 168
• NCES district ID: 1741580
• Math proficiency: 6% ▼ -9.00%
• Reading proficiency: 16% ▼ -10.00%
• Median HH income: $34,447
• Composite: 8.93/100
• National rank: #9886
• State rank: #577 of 620 in IL

Livability — West Frankfort

• Score: 56/100
• State rank: #1210
• US rank: #22742

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 10,691
• Population (ZIP): 10,691

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 37,954 people
• By 2030: 36,828 · -3.0%
• By 2040: 34,452 · -9.2%
• By 2050: 31,855 · -16.1%
• By 2075: 25,171 · -33.7%
• By 2100: 18,462 · -51.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 2%
• Common ancestry: Romanian 2% Lithuanian 1% Iranian 1%
• Foreign-born: 1% · Canada, Jamaica
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Franklin

• 2024 margin: Solid R (+50.6) · D 24.1% · R 74.6% · Other 1.3%
• 2008→2024 swing: -47.8pp toward R · 2008: -2.8pp · 2024: -50.6pp
• All cycles: 2024: R+50.6 2020: R+47.5 2016: R+45.3 2012: R+16.8 2008: R+2.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -94.00%
• Current HPI: 86.36
• 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

+39.9% since first listed

15 events — show timeline

• 2026-05-17 Pending — MRED as Distributed by MLS Grid
• 2026-05-04 Relisted — MRED as Distributed by MLS Grid
• 2026-04-02 Pending — MRED as Distributed by MLS Grid
• 2026-03-24 Price Changed $165,000 MRED as Distributed by MLS Grid
• 2026-01-12 Price Changed $179,500 MRED as Distributed by MLS Grid
• 2026-01-08 Price Changed $185,000 MRED as Distributed by MLS Grid
• 2026-01-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2026-01-05 Price Changed $179,500 MRED as Distributed by MLS Grid
• 2025-12-09 Listed — RMLSA as Distributed by MLS Grid
• 2022-07-25 Sold (MLS) $119,600 RMLSA as Distributed by MLS Grid
• 2022-07-25 Sold (MLS) $119,600 MRED as Distributed by MLS Grid
• 2022-05-11 Contingent — RMLSA as Distributed by MLS Grid
• 2022-05-07 Pending — RMLSA as Distributed by MLS Grid
• 2022-05-05 Listed $117,900 RMLSA as Distributed by MLS Grid
• 2022-05-05 Listed $117,900 MRED as Distributed by MLS Grid

Property tax history

+16.0%/yr

Latest (2024): $956 · -0.7% YoY. Source: county tax records.