None

Pocahontas, IL 62275

$90,000C

3 bd · 2.0 ba · 1,056 sqft · Built 2007 · Manufactured · Active · 15 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $808/mo
• Mortgage (P&I): −$472
• Tax + insurance: −$108
• HOA: −$0
• Vac / Maint / Mgmt: −$170
• Net cashflow: $59/mo
• Annual: $706/yr
• Cap rate: 7.08%
• Cash-on-cash: 2.80%
• DSCR: 1.12
• 1% rule: 0.90%
• Cash to close: $25,200

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $90k.
• At list price, monthly cash flow is $59 ($706/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 $81k (10.2% below list).
• It's been on market 15 days — a 2% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $81k (10.2% below list) — sets the bar for 1% rule.
• In year one you build about $10k of equity ($622 loan paydown + $9k appreciation (10.0% local appreciation)).
• Location reads 61/100 on livability (#893 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D-, amenities F, commute F.
• Bond County CUSD 2 (town): math 35% / reading 41% proficiency, ranked #345 of 919 in IL (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Greenville Elem School (math 24% / reading 24%, grade F, #850 of 2,056 statewide, top 45%, 531 students, 0% FRL); Greenville Jr High School (math 24% / reading 24%, grade F, #332 of 665 statewide, top 55%, 300 students, 0% FRL); Bond Cty Comm Unit 2 High School (math 32% / reading 27%, grade F, #187 of 693 statewide, top 30%, 504 students, 0% FRL) — zoned schools average 0% FRL vs 42% district-wide (42 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 8 active listings in the ZIP; 35 units permitted in Bond County in 2024 (0 in 5+ unit buildings).
• Bond County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 5y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $72k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the 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 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?
• 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?
• 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.