206 Viola Dr · Freeport, IL 61032

$35,900

2 bd · 1.0 ba · 980 sqft · Manufactured · 195 Days on market

Built 1989 Fair condition $37/sqft · 20% above area Est $30k · 20% over ↓ 9% since listing

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Why this score? — see what drove the C 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
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +1.0/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

1989 North America mobile home with 980SF. 2-bedroom, 1 bath, nice size living room, eat in kitchen, laundry area just off of the kitchen. Enclosed porch. Shed stays. New shower 2 years, interior painted 2 years, water heater 1 year and new front door. Need Park approval. Lot rent $390.00. Mobile home being sold as-is. The seller works from home so showings will only be allowed Tuesdays & Sundays from 4 to 7.

Key facts

• Interior painted
• New shower
• Water heater

Tags

• ENCLOSED PORCH
• NEW SHOWER
• INTERIOR PAINTED
• WATER HEATER
• NEW FRONT DOOR
• SHED STAYS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $36k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $402 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($823 rent vs $36k).
• Recommended offer: $32k (12.0% below list) — sets the bar for market timing.
• Cap rate 19.7% 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 $248 of loan paydown is wiped out by about $1k 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 $10k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 195 days — a 12% lower offer ($32k) is reasonable based on typical stale-listing flexibility.

Recommended offer $31,592 (12.0% below list)

Questions for the listing agent

1. It's been on market 195 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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. 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: 2.29% ✓
• Cap rate: 19.73%
• Cash-on-cash: 47.98%
• DSCR: 3.13
• GRM: 3.6

CMA / ARV

• ARV (median comp): $30,000
• List price: $35,900
• Delta: 19.67%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 45.5%
• Equity multiple: 2.97×
• Total profit: $19,795
• Equity at exit: $5,353

10-year hold

• IRR: 51.3%
• Equity multiple: 6.00×
• Total profit: $50,251
• Equity at exit: $3,104

Cash invested: $10,052 (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: 3.6×

Monthly cashflow live

• Estimated rent: $823 medium
• Mortgage (P&I): −$188
• Tax est. 1.5%: −$45 /mo · $538/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$173
• Net cashflow: $402

Break-even live

Break-even rent $314

Max offer price $35,900

Occupancy floor 46%

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: $8,975
• Closing costs: $1,077
• 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	43d	1	0.10mi
1436 W American St Freeport, IL	2.0	1.0	714	$1,100	$1.54	43d	1	1.32mi

Listing history 18 events

1. 2026-06-18
   days on market $35,900 Active 195 DOM
2. 2026-06-17
   days on market $35,900 Active 194 DOM
3. 2026-06-16
   days on market $35,900 Active 193 DOM
4. 2026-06-15
   days on market $35,900 Active 192 DOM
5. 2026-06-13
   days on market $35,900 Active 190 DOM
6. 2026-06-12
   days on market $35,900 Active 189 DOM
7. 2026-06-09
   days on market $35,900 Active 186 DOM
8. 2026-06-08
   days on market $35,900 Active 185 DOM
9. 2026-06-07
   days on market $35,900 Active 184 DOM
10. 2026-06-07
    days on market $35,900 Active 183 DOM
11. 2026-06-04
    days on market $35,900 Active 180 DOM
12. 2026-06-02
    days on market $35,900 Active 179 DOM
13. 2026-06-01
    days on market $35,900 Active 178 DOM
14. 2026-05-31
    days on market $35,900 Active 177 DOM
15. 2026-05-31
    days on market $35,900 Active 176 DOM
16. 2026-04-30
    price $36,500 419-char remark

    Show marketing remark (419 chars)

    1989 North America mobile home with 980SF. 2-bedroom, 1 bath, nice size living room, eat in kitchen, laundry area just off of the kitchen. Enclosed porch. Shed stays. New shower 2 years, interior painted 2 years, water heater 1 year and new front door. Need Park approval. Lot rent $390.00. Mobile home being sold as-is. The seller works from home so showings will only be allowed Tuesdays & Sundays from 4 to 7.

17. 2026-02-01
    price $37,900 419-char remark

    Show marketing remark (419 chars)

    1989 North America mobile home with 980SF. 2-bedroom, 1 bath, nice size living room, eat in kitchen, laundry area just off of the kitchen. Enclosed porch. Shed stays. New shower 2 years, interior painted 2 years, water heater 1 year and new front door. Need Park approval. Lot rent $390.00. Mobile home being sold as-is. The seller works from home so showings will only be allowed Tuesdays & Sundays from 4 to 7.

18. 2025-12-05
    listed $39,900 Active 419-char remark

    Show marketing remark (419 chars)

    1989 North America mobile home with 980SF. 2-bedroom, 1 bath, nice size living room, eat in kitchen, laundry area just off of the kitchen. Enclosed porch. Shed stays. New shower 2 years, interior painted 2 years, water heater 1 year and new front door. Need Park approval. Lot rent $390.00. Mobile home being sold as-is. The seller works from home so showings will only be allowed Tuesdays & Sundays from 4 to 7.

ⓘ 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: −$2,011
• − Property taxes: −$538
• − Insurance: −$180
• − Repairs & maintenance: −$790
• − Management: −$790
• − Depreciation: −$1,044
• Taxable income: $4,521
• Est. tax owed @ 24.0%: −$1,085
• After-tax cash flow: $3,738/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

Fair 45/100 Moderate rehab

This mobile home requires moderate repairs and updates to its kitchen and bathroom, as well as exterior repairs. These improvements will significantly increase its resale and rental value.

Repairs flagged

• Moderate kitchen cabinets — dated and worn
• Moderate kitchen countertops — dated and worn
• Moderate bathroom fixtures — dated and worn
• Moderate exterior siding — moderate wear

Value-add opportunities

• Resale update kitchen cabinets and countertops — modernizing the kitchen will attract more buyers
• Resale update bathroom fixtures — modernizing the bathroom will attract more buyers
• Both paint interior walls — painting the interior walls will improve the home's appearance and increase its value
• Both repair exterior siding — repairing the exterior siding will improve the home's curb appeal and increase its value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and worn	Moderate	$3,000–15,000
kitchen countertops · dated and worn	Moderate	$3,000–15,000
bathroom fixtures · dated and worn	Moderate	$3,000–15,000
exterior siding · moderate wear	Moderate	$3,000–15,000
Total estimated repair cost · 4 items		$12,000–60,000

Value-add ROI direction

• Resale update kitchen cabinets and countertops — modernizing the kitchen will attract more buyers ↑
• Resale update bathroom fixtures — modernizing the bathroom will attract more buyers ↑
• Both paint interior walls — painting the interior walls will improve the home's appearance and increase its value ↑
• Both repair exterior siding — repairing the exterior siding will improve 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: 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

-8.5% since first listed

3 events — show timeline

• 2026-04-30 Price Changed $36,500 NWIAR
• 2026-02-01 Price Changed $37,900 NWIAR
• 2025-12-05 Listed $39,900 NWIAR