824 Springdale Ln · DeKalb, IL 60115

$66,000

2 bd · 2.0 ba · 1,023 sqft · Manufactured · 62 Days on market

Built 2026 Fair condition

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.3/5.0
• Livability +3.9/5.0
• Condition / age +2.2/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This spacious 2-bedroom, 2-bath single-wide home offers more room than you'd expect, with an expanded layout that sets it apart from typical homes in its class. Inside, you'll find large, comfortable bedrooms and a centrally located eat-in kitchen that opens to a welcoming living area-perfect for both everyday living and entertaining. The home features a covered front entry with an awning, as well as a generous carport along the driveway side for convenient, protected parking. Located within a private manufactured home community, this property offers both comfort and convenience with easy access to I-88, as well as nearby shopping and dining options. An excellent opportunity for affordable, low-maintenance living in a great location. Call our office today to schedule a tour!

Key facts

• Generous carport
• Expanded layout
• Eat-in kitchen

Tags

• EXPANDED LAYOUT
• EAT-IN KITCHEN
• COVERED FRONT ENTRY
• GENEROUS CARPORT
• EASY ACCESS TO I-88

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $66k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $658 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $66k).
• Recommended offer: $62k (6.0% below list) — sets the bar for market timing.
• Cap rate 18.3% vs local median 4.4% in DeKalb — 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 77/100 on livability (#154 in IL, #2,835 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities D+, schools D, crime D-.
• Dekalb CUSD 428 (suburban): math 11% / reading 16% proficiency, ranked #541 of 620 in IL (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+7.3%/yr); 85 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 260 units permitted in DeKalb County in 2024 (73 in 5+ unit buildings).
• This rent runs 36% of the median local income ($47k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $456 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• DeKalb County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 7.3% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($62k) is reasonable based on typical stale-listing flexibility.

Recommended offer $62,040 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% 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 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?
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. 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.
8. 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.
9. 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: 2.14% ✓
• Cap rate: 18.25%
• Cash-on-cash: 42.71%
• DSCR: 2.90
• GRM: 3.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 7.33% rent growth · sell at horizon

5-year hold

• IRR: 44.3%
• Equity multiple: 3.04×
• Total profit: $37,629
• Equity at exit: $9,841

10-year hold

• IRR: 52.2%
• Equity multiple: 7.25×
• Total profit: $115,563
• Equity at exit: $5,706

Cash invested: $18,480 (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 60115

• Home prices YoY: -31.9%
• Rents YoY: 7.3%
• Active inventory: 85
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,410 high
• Mortgage (P&I): −$346
• Tax est. 1.5%: −$82 /mo · $990/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$296
• Net cashflow: $658

Break-even live

Break-even rent $577

Max offer price $66,000

Occupancy floor 48%

Sensitivity live

Price	-10% $703	-5% $681	+0% $658	+5% $635	+10% $612
Rent	-10% $546	-5% $602	+0% $658	+5% $713	+10% $769
Rate	-1.0pp $691	-0.5pp $675	base $658	+0.5pp $641	+1.0pp $623

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: $16,500
• Closing costs: $1,980
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
219 S 7th St DeKalb, IL	2.0	1.5	1054	$1,700	$1.61	7d	1	0.41mi
511 S 3rd St Unit 1 DeKalb, IL	1.0	1.0	921	$1,200	$1.30	44d	1	0.52mi
227 W Locust St Unit 1 DeKalb, IL	1.0	1.0	700	$950	$1.36	25d	1	0.95mi
118 Augusta Ave Apt 10 DeKalb, IL	1.0	1.0	750	$925	$1.23	44d	1	0.96mi
172 Oak Dr DeKalb, IL	3.0	1.0	950	$2,000	$2.11	21d	1	1.38mi

Listing history 15 events

1. 2026-06-18
   days on market $66,000 Active 62 DOM
2. 2026-06-17
   days on market $66,000 Active 61 DOM
3. 2026-06-16
   days on market $66,000 Active 60 DOM
4. 2026-06-15
   days on market $66,000 Active 59 DOM
5. 2026-06-13
   days on market $66,000 Active 57 DOM
6. 2026-06-13
   days on market $66,000 Active 56 DOM
7. 2026-06-09
   days on market $66,000 Active 53 DOM
8. 2026-06-08
   days on market $66,000 Active 52 DOM
9. 2026-06-07
   days on market $66,000 Active 51 DOM
10. 2026-06-04
    days on market $66,000 Active 48 DOM
11. 2026-06-03
    days on market $66,000 Active 47 DOM
12. 2026-06-02
    days on market $66,000 Active 46 DOM
13. 2026-06-01
    days on market $66,000 Active 45 DOM
14. 2026-05-31
    days on market $66,000 Active 44 DOM
15. 2026-04-18
    listed $70,000 Active 785-char remark

    Show marketing remark (785 chars)

    This spacious 2-bedroom, 2-bath single-wide home offers more room than you'd expect, with an expanded layout that sets it apart from typical homes in its class. Inside, you'll find large, comfortable bedrooms and a centrally located eat-in kitchen that opens to a welcoming living area-perfect for both everyday living and entertaining. The home features a covered front entry with an awning, as well as a generous carport along the driveway side for convenient, protected parking. Located within a private manufactured home community, this property offers both comfort and convenience with easy access to I-88, as well as nearby shopping and dining options. An excellent opportunity for affordable, low-maintenance living in a great location. Call our office today to schedule a tour!

ⓘ 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 3/10 Moderate 7 d/yr ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,919
• − Mortgage interest: −$3,697
• − Property taxes: −$990
• − Insurance: −$330
• − Repairs & maintenance: −$1,354
• − Management: −$1,354
• − Depreciation: −$1,920
• Taxable income: $7,275
• Est. tax owed @ 24.0%: −$1,746
• After-tax cash flow: $6,147/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 Cosmetic rehab

This single-wide manufactured home offers a spacious layout with potential for cosmetic upgrades to enhance its curb appeal and interior aesthetics.

Repairs flagged

• Minor Paint — Paint appears faded
• Minor Siding — Light wear on siding

Value-add opportunities

• Both Paint and siding repairs — Enhances curb appeal and interior aesthetics
• Resale Appliance upgrades — Modernizes kitchen and appeals to buyers
• Resale Flooring replacement — Upgrades living spaces and adds value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Paint · Paint appears faded	Minor	$500–3,000
Siding · Light wear on siding	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Paint and siding repairs — Enhances curb appeal and interior aesthetics ↑
• Resale Appliance upgrades — Modernizes kitchen and appeals to buyers ↑
• Resale Flooring replacement — Upgrades living spaces and adds 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: Dekalb CUSD 428
• NCES district ID: 1712000
• Math proficiency: 11% ▼ -9.00%
• Reading proficiency: 16% ▼ -6.00%
• Median HH income: $42,007
• Composite: 11.74/100
• National rank: #9685
• State rank: #541 of 620 in IL

Livability — DeKalb

• Score: 77/100
• State rank: #154
• US rank: #2835

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: DeKalb, IL
• County: DeKalb County · 64,760 people
• City population: 42,536
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 42,536
• Household income: $47,043
• Rent vs Own: 57.0% rent · 43.0% own
• Severe rent burden: 3794.0

Population outlook (DeKalb County) Hauer SSP2

• Today (2025): 104,983 people
• By 2030: 104,428 · -0.5%
• By 2040: 102,199 · -2.7%
• By 2050: 99,303 · -5.4%
• By 2075: 93,978 · -10.5%
• By 2100: 88,527 · -15.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 58% Hispanic / Latino 18% Black 15% Two or more races 12% Asian 4%
• Hispanic origin (detail): Mexican 14% Puerto Rican 2%
• Common ancestry: Romanian 5% Portuguese 3% Lithuanian 2%
• Foreign-born: 9% · Canada, China
• Languages at home: 82% English-only · Spanish 10% Arabic 2% Other Indo-European 2%

Political lean MEDSL · DeKalb

• 2024 margin: Toss-up / Even · D 50.1% · R 48.1% · Other 1.7%
• 2008→2024 swing: -14.8pp toward R · 2008: 16.8pp · 2024: 2.0pp
• All cycles: 2024: D+2.0 2020: D+5.7 2016: D+3.0 2012: D+5.5 2008: D+16.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -89.56%
• Current HPI: 191.1189
• Rent YoY: ▲ 7.33%
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• 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

1 event — show timeline

• 2026-04-18 Listed $70,000 Zillow