3 bd · 2.0 ba ·
960 sqft ·
Built 2025
· Manufactured
· Active
· 276 DOM
Cashflow @ list (25.0% down · 7.5%)
Estimated rent
$1,162/mo
Mortgage (P&I)
−$443
Tax + insurance
−$141
HOA
−$0
Vac / Maint / Mgmt
−$244
Net cashflow
$334/mo
Annual
$4,012/yr
Cap rate
11.05%
Cash-on-cash
16.98%
DSCR
1.76
1% rule
1.38%
Cash to close
$23,632
Investor read
This is a 3-bed/2.0-bath manufactured listed at $84k.
At list price, monthly cash flow is $334 ($4k/yr) — positive.
The deal already cash-flows at list — no discount required.
Meets the 1% rule at list price ($1k rent vs $84k).
It's been on market 276 days — a 12% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
Recommended offer: $74k (12.0% below list) — sets the bar for market timing.
Local home prices are declining (-3.0%/yr); year-one equity from $584 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
Location reads 65/100 on livability (#601 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, schools D-, amenities F.
Limestone Chsd 310 (rural): math 25% / reading 35% proficiency, ranked #486 of 919 in IL (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
Market conditions: Rents rising (+2.3%/yr); 180 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 73 units permitted in Peoria County in 2024 (0 in 5+ unit buildings).
Peoria County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
At projected returns (-3.0% appreciation + 2.3% rent growth), your $24k cash investment doubles in ~8 years — after that, you're playing with house money.
Questions for listing agent
It's been on market 276 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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?
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.
CashFlowRE · CFR-C10S0R377QND68
· Data 2 weeks agocashflowre.app · 2026-05-29