6011 Grigsby Ln · Athens, IL 62677

$41,500

2 bd · 1.0 ba · 910 sqft · Other · 9 Days on market

Built 1976 0.40 ac lot

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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
• Livability +3.7/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This 14' x 70 ' mobile home on . 4 of an acre lot in the popular Pleasant Plains School District and features a large kitchen and living room. There at 2 bedrooms and one full bath. The lot is really nice as it sits right off St Rt 97 in the Salisbury area. The furnace is new in 2023, new water heater 5/2026, new skirting in 2024 and comes with the Stove, vent hood, refrigerator, washer and dryer and a window unit air conditioner. Feels like you are out in the country but neighbors are not too far away. The propane tank is owned so you can shop for your propane and use anyone. Ameren is the electric company and the home has city water too! This is a 1976 Vindale Corporation mobile home. Low

Key facts

• New furnace
• New water heater
• Owned propane tank

Tags

• LARGE KITCHEN
• NEW FURNACE
• NEW WATER HEATER
• NEW SKIRTING
• OWNED PROPANE TANK
• CITY WATER

Property features AI

Finance

• Other: Residential zoning; Located on approximately 0.4 acre
• HOA & community: No association fee

Exterior

• Parking: Gravel parking (no garage)
• Utilities: Public water
• Home design: Single-wide mobile home (Vindale 70722); Single-family residence; Built in 1976
• Construction: Other-type roof; Living area/building area approximately 910
• Exterior features: Level lot; Paved road access; Lot dimensions approx. 141 x 170 x 120 x 121

Interior

• Kitchen: Kitchen present (approx. 14.3 x 13.2 ft)
• Bedrooms: Two bedrooms (both on the main level; primary bedroom approx. 13.1 x 10.6 ft, second bedroom approx. 10.1 x 7.4 ft)
• Flooring: Carpet in primary bedroom and living room; Laminate flooring in second bedroom and kitchen
• Bathrooms: One full bathroom
• Heating & cooling: Propane heating; Forced air; Window unit(s) for cooling
• Interior features: Washer and dryer included; Refrigerator included; No basement
• Laundry & utility: Washer and dryer included

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $42k.

Deal economics

• At list price, monthly cash flow is $449 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($927 rent vs $42k).

Location & tenants

• Location reads 73/100 on livability (#267 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B+; Watch: schools D+, amenities F, commute F.
• Pleasant Plains CUSD 8 (rural): math 29% / reading 29% proficiency, ranked #216 of 620 in IL (top 35%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; only 10% free/reduced lunch — higher-income household profile.
• Market conditions: 10 active listings in the ZIP; 225 units permitted in Sangamon County in 2024 (48 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $287 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Sangamon County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $12k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $41,500

Questions for the listing agent

1. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 2.23% ✓
• Cap rate: 19.29%
• Cash-on-cash: 46.41%
• DSCR: 3.06
• GRM: 3.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 43.7%
• Equity multiple: 2.89×
• Total profit: $21,907
• Equity at exit: $6,188

10-year hold

• IRR: 49.7%
• Equity multiple: 5.82×
• Total profit: $55,976
• Equity at exit: $3,588

Cash invested: $11,620 (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 62677

• Home prices YoY: -18.5%
• Active inventory: 10
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $927 medium
• Mortgage (P&I): −$218
• Tax from tax record: −$48 /mo · $578/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$195
• Net cashflow: $449

Break-even live

Break-even rent $358

Max offer price $41,500

Occupancy floor 47%

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: $10,375
• Closing costs: $1,245
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-13
   status $41,500 Pending 9 DOM
2. 2026-06-10
   days on market $41,500 Active 9 DOM
3. 2026-06-09
   days on market $41,500 Active 8 DOM
4. 2026-06-08
   days on market $41,500 Active 7 DOM
5. 2026-06-07
   days on market $41,500 Active 6 DOM
6. 2026-06-03
   days on market $41,500 Active 2 DOM
7. 2026-06-02
   remarks 699-char remark
8. 2026-06-02
   listed $41,500 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast IL · Partial reset (capped growth)

• Current annual tax: $578 · $48/mo
• Projected year-2 tax: $760 · $63/mo
• Expected delta: +$182/yr (+$15/mo · 31.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥104°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,125
• − Mortgage interest: −$2,325
• − Property taxes: −$578
• − Insurance: −$208
• − Repairs & maintenance: −$890
• − Management: −$890
• − Depreciation: −$1,207
• Taxable income: $5,028
• Est. tax owed @ 24.0%: −$1,207
• After-tax cash flow: $4,186/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.

Schools (NCES district)

• District: Pleasant Plains CUSD 8
• NCES district ID: 1731920
• Math proficiency: 29% ▼ -7.00%
• Reading proficiency: 29% ▼ -6.00%
• Median HH income: $83,702
• Composite: 28.6/100
• National rank: #6712
• State rank: #216 of 620 in IL

Livability — Athens

• Score: 73/100
• State rank: #267
• US rank: #5018

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,153

Population outlook (Sangamon County) Hauer SSP2

• Today (2025): 198,317 people
• By 2030: 196,127 · -1.1%
• By 2040: 188,664 · -4.9%
• By 2050: 179,624 · -9.4%
• By 2075: 155,027 · -21.8%
• By 2100: 122,588 · -38.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 4%
• Common ancestry: Serbian 3% Portuguese 2% Iranian 2%
• Foreign-born: 1%

Political lean MEDSL · Sangamon

• 2024 margin: Toss-up / Even · D 46.6% · R 51.6% · Other 1.8%
• 2008→2024 swing: -9.3pp toward R · 2008: 4.4pp · 2024: -5.0pp
• All cycles: 2024: R+5.0 2020: R+4.4 2016: R+9.4 2012: R+8.7 2008: D+4.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -43.74%
• Current HPI: 193.1264
• 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

1 event — show timeline

• 2026-06-01 Listed $41,500 RMLSA as Distributed by MLS Grid

Property tax history

+9.4%/yr

Latest (2025): $578 · +2.0% YoY. Source: county tax records.