465 Main St · Vergennes, IL 62994

$100,000

3 bd · 2.0 ba · 1,660 sqft · SingleFamily · 69 Days on market

Built 2005 Good condition 0.48 ac lot Est $106k · 6% under

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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 +27.7/30.0
• ARV discount +10.1/15.0
• DSCR +9.8/10.0
• 1% rule +7.6/10.0
• Appreciation +6.9/10.0
• Condition / age +4.0/5.0
• Schools +3.2/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0

Listing remarks

Remarkably well-maintained 3-bedroom, 2-bath manufactured home sits on almost a half acre with fenced-in yard. Built in 2005, the home has been lovingly cared for and remains in excellent condition. Step inside to find bright, open spaces that flow seamlessly from room to room. Spacious great room and kitchen. The kitchen has plenty of cabinets and comes fully equipped with appliances. Beautiful fireplace, with built-ins, is electric but can be converted back to log burning. New high efficiency heat pump in 2025 and water heater in 2021. Outside, you will find a nice front porch, shed stays, and a carport. If you are looking for small town living at a reasonable price, check this one out.

Key facts

• Front porch
• Electric fireplace
• Fenced-in yard

Tags

• FENCED-IN YARD
• BRIGHT OPEN SPACES
• FULLY EQUIPPED KITCHEN
• ELECTRIC FIREPLACE
• NEW HIGH EFFICIENCY HEAT PUMP
• FRONT PORCH

Property features AI

Exterior

• Parking: Detached carport
• Utilities: Public water; Public sewer
• Home design: Double-wide single family residence; Manufactured home (Fall Creek model 60-6); 2005 construction; One main living level with additional upper, lower and basement levels noted
• Construction: Shingle roof; Double wide body type
• Exterior features: Level lot; Shed(s)

Interior

• Kitchen: Dishwasher; Refrigerator
• Bedrooms: 3 bedrooms (main level)
• Flooring: Carpet (bedrooms, great room); Vinyl (kitchen)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heat pump and electric heating; Central air conditioning
• Interior features: Ceiling fan(s); Electric fireplace (1)
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $100k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $302 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $94k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 59/100 on livability (#1,078 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime D-, amenities F, commute F.
• Elverado CUSD 196 (rural): math 25% / reading 45% proficiency, ranked #418 of 919 in IL (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Elverado High School (math 10% / reading 10%, grade F, #528 of 693 statewide, top 82%, 112 students, 0% FRL) — zoned schools average 0% FRL vs 54% district-wide (54 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 10% at this address vs 35% district-wide (-25 pts) — the specific schools serving this property underperform the Elverado CUSD 196 average; the district grade overstates school quality for this exact location.
• Market conditions: 2 active listings in the ZIP; 5 units permitted in Jackson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($691 loan paydown + $4k appreciation (3.7% local appreciation)).
• At projected returns (3.7% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($94k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $94,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.26% ✓
• Cap rate: 9.92%
• Cash-on-cash: 12.94%
• DSCR: 1.58
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $106,240
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
465 Main St	0.00mi	3/2.0	1,660 (0%)	1mo	$106,500	$64	99
365 Bryden St	0.19mi	3/1.0	1,653 (-0%)	7mo	$146,500	$89	81
365 Bryden St	0.19mi	3/1.0	1,653 (-0%)	7mo	$146,500	$89	81
500 Holt St	0.11mi	3/2.0	1,564 (-6%)	22mo	$85,000	$54	66
500 Holt St	0.11mi	3/2.0	1,564 (-6%)	22mo	$85,000	$54	66

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

3.72% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.3%
• Equity multiple: 2.26×
• Total profit: $35,166
• Equity at exit: $49,081

10-year hold

• IRR: 21.8%
• Equity multiple: 4.34×
• Total profit: $93,633
• Equity at exit: $79,009

Cash invested: $28,000 (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 62994

• Home prices YoY: 3.6%
• Active inventory: 2
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,257 medium
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,500/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $302

Break-even live

Break-even rent $875

Max offer price $100,000

Occupancy floor 71%

Sensitivity live

Price	-10% $371	-5% $336	+0% $302	+5% $267	+10% $233
Rent	-10% $203	-5% $252	+0% $302	+5% $352	+10% $401
Rate	-1.0pp $352	-0.5pp $327	base $302	+0.5pp $276	+1.0pp $250

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-03-25
   historical Under Contract
2. 2026-03-19
   listed $100,000 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 5/10 Major 7 d/yr ≥107°F today · 21 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: $15,084
• − Mortgage interest: −$5,602
• − Property taxes: −$1,500
• − Insurance: −$500
• − Repairs & maintenance: −$1,207
• − Management: −$1,207
• − Depreciation: −$2,909
• Taxable income: $2,160
• Est. tax owed @ 24.0%: −$518
• After-tax cash flow: $3,105/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 · 12 photos

Good 80/100 Cosmetic rehab

This well-maintained 3-bedroom, 2-bath home is in good condition with minor repairs needed. It offers a spacious layout and is ready for a fresh coat of paint and new flooring to enhance its resale and rental value.

Repairs flagged

• Minor paint — paint appears faded and could be refreshed
• Minor flooring — carpeted floors could be replaced with hardwood or tile
• Minor exterior siding — some discoloration could be cleaned

Value-add opportunities

• Resale paint — fresh paint enhances curb appeal
• Rental flooring — hardwood or tile flooring is more durable and attractive
• Resale exterior siding — cleaning and touch-up paint improve curb appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
paint · paint appears faded and could be refreshed	Minor	$500–3,000
flooring · carpeted floors could be replaced with hardwood or tile	Minor	$500–3,000
exterior siding · some discoloration could be cleaned	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Resale paint — fresh paint enhances curb appeal ↑
• Rental flooring — hardwood or tile flooring is more durable and attractive ↑
• Resale exterior siding — cleaning and touch-up paint improve curb appeal ↑

ⓘ 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: Elverado CUSD 196
• NCES district ID: 1713860
• Math proficiency: 25% ▲ 3.00%
• Reading proficiency: 45% ▲ 8.00%
• Median HH income: $42,241
• Composite: 32.2/100
• National rank: #10962
• State rank: #418 of 919 in IL

Livability — Vergennes

• Score: 59/100
• State rank: #1078
• US rank: #20547

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Vergennes, IL
• Population (ZIP): 752

Population outlook (Jackson County) Hauer SSP2

• Today (2025): 59,093 people
• By 2030: 59,628 · +0.9%
• By 2040: 59,495 · +0.7%
• By 2050: 58,811 · -0.5%
• By 2075: 57,683 · -2.4%
• By 2100: 55,337 · -6.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Italian 9% Lithuanian 3% Iranian 2%
• Foreign-born: 2% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Jackson

• 2024 margin: Toss-up / Even · D 51.0% · R 47.5% · Other 1.4%
• 2008→2024 swing: -18.3pp toward R · 2008: 21.8pp · 2024: 3.5pp
• All cycles: 2024: D+3.5 2020: D+1.3 2016: D+3.0 2012: D+10.3 2008: D+21.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.72%
• Current HPI: 108.3308
• 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

2 events — show timeline

• 2026-03-25 Contingent — RMLSA as Distributed by MLS Grid
• 2026-03-19 Listed $100,000 RMLSA as Distributed by MLS Grid