67 Lakeview Rd · Neoga, IL 61928

$34,000

2 bd · 1.0 ba · 724 sqft · Manufactured · 98 Days on market

Built 1969 Fair condition $47/sqft · 17% above area Est $29k · 17% over

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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
• Appreciation +7.1/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +1.7/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

How about your own beach on the lake? It is ready for sand and your family to enjoy!! Experience peace, freedom, and stunning water views every day with your own home on the lake. Wake up to the sound of nature, sip your morning coffee by the water, and enjoy fishing, boating, or simply relaxing in your private paradise. Affordable and comfortable — your lake life begins now! With a little TLC, this home will bring years of enjoyment. Home is for sale and lot rent is $575/mo. which includes water, garbage, sewer. Must fill out application and be approved by management prior to sale.

Key facts

• Boating
• Beach on the lake
• Private paradise

Tags

• BEACH ON THE LAKE
• STUNNING WATER VIEWS
• PRIVATE PARADISE
• FISHING
• BOATING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $34k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $417 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($825 rent vs $34k).
• Recommended offer: $31k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 73/100 on livability (#282 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Neoga CUSD 3 (rural): math 15% / reading 23% proficiency, ranked #442 of 620 in IL (top 71%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 3 active listings in the ZIP; 34 units permitted in Coles County in 2024 (30 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($235 loan paydown + $1k appreciation (4.2% local appreciation)).
• Coles County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (4.2% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 98 days — a 9% lower offer ($31k) is reasonable based on typical stale-listing flexibility.

Recommended offer $30,940 (9.0% below list)

Questions for the listing agent

1. It's been on market 98 days. Have you received any prior offers? Is the seller open to a 9% 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. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 2.43% ✓
• Cap rate: 21.01%
• Cash-on-cash: 52.57%
• DSCR: 3.34
• GRM: 3.4

CMA / ARV

• ARV (median comp): $29,000
• List price: $34,000
• Delta: 17.24%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
43 Lakeview Rd	0.21mi	2/1.5	780 (+8%)	3mo	$29,000	$37	72

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

Projected returns pro-forma

4.15% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 59.0%
• Equity multiple: 4.44×
• Total profit: $32,784
• Equity at exit: $17,537

10-year hold

• IRR: 57.5%
• Equity multiple: 9.09×
• Total profit: $77,021
• Equity at exit: $28,925

Cash invested: $9,520 (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 61928

• Home prices YoY: 2.8%
• Active inventory: 3
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $825 medium
• Mortgage (P&I): −$178
• Tax est. 1.5%: −$42 /mo · $510/yr
• Insurance: −$14
• HOA: −$0
• Vacancy / Maint / Mgmt: −$173
• Net cashflow: $417

Break-even live

Break-even rent $297

Max offer price $34,000

Occupancy floor 44%

Sensitivity live

Price	-10% $441	-5% $429	+0% $417	+5% $405	+10% $394
Rent	-10% $352	-5% $384	+0% $417	+5% $450	+10% $482
Rate	-1.0pp $434	-0.5pp $426	base $417	+0.5pp $408	+1.0pp $399

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: $8,500
• Closing costs: $1,020
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-19
   days on market $34,000 Active 98 DOM
2. 2026-06-18
   days on market $34,000 Active 97 DOM
3. 2026-06-17
   days on market $34,000 Active 96 DOM
4. 2026-06-16
   days on market $34,000 Active 95 DOM
5. 2026-06-15
   days on market $34,000 Active 94 DOM
6. 2026-06-14
   days on market $34,000 Active 92 DOM
7. 2026-06-12
   days on market $34,000 Active 91 DOM
8. 2026-06-09
   days on market $34,000 Active 88 DOM
9. 2026-06-08
   days on market $34,000 Active 87 DOM
10. 2026-06-07
    days on market $34,000 Active 86 DOM
11. 2026-06-05
    days on market $34,000 Active 83 DOM
12. 2026-06-02
    days on market $34,000 Active 81 DOM
13. 2026-06-01
    days on market $34,000 Active 80 DOM
14. 2026-05-31
    days on market $34,000 Active 79 DOM
15. 2026-05-30
    days on market $34,000 Active 78 DOM
16. 2026-03-13
    listed $34,000 Active 595-char remark

    Show marketing remark (595 chars)

    How about your own beach on the lake? It is ready for sand and your family to enjoy!! Experience peace, freedom, and stunning water views every day with your own home on the lake. Wake up to the sound of nature, sip your morning coffee by the water, and enjoy fishing, boating, or simply relaxing in your private paradise. Affordable and comfortable — your lake life begins now! With a little TLC, this home will bring years of enjoyment. Home is for sale and lot rent is $575/mo. which includes water, garbage, sewer. Must fill out application and be approved by management prior to sale.

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

Taxation est. · year 1

• Rental income: $9,904
• − Mortgage interest: −$1,905
• − Property taxes: −$510
• − Insurance: −$170
• − Repairs & maintenance: −$792
• − Management: −$792
• − Depreciation: −$989
• Taxable income: $4,746
• Est. tax owed @ 24.0%: −$1,139
• After-tax cash flow: $3,865/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 · 10 photos

Fair 45/100 Moderate rehab

This manufactured home requires extensive repairs and maintenance, including a new roof, exterior siding, windows, and HVAC system. Landscaping and painting will also improve curb appeal and value.

Repairs flagged

• Major roof — visible wear on roof structure
• Major exterior siding — weathered siding, peeling paint
• Major deck — damaged
• Major windows — broken window panes
• Major HVAC/mechanicals — no visible systems

Value-add opportunities

• Both new roof — improves safety and appearance
• Both exterior siding and paint — enhances curb appeal and value
• Both new windows — improves energy efficiency and safety
• Both HVAC system — enhances comfort and energy efficiency
• Both landscaping — enhances curb appeal and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · visible wear on roof structure	Major	$15,000–50,000
exterior siding · weathered siding, peeling paint	Major	$15,000–50,000
deck · damaged	Major	$15,000–50,000
windows · broken window panes	Major	$15,000–50,000
HVAC/mechanicals · no visible systems	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both new roof — improves safety and appearance ↑
• Both exterior siding and paint — enhances curb appeal and value ↑
• Both new windows — improves energy efficiency and safety ↑
• Both HVAC system — enhances comfort and energy efficiency ↑
• Both landscaping — enhances curb appeal and 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: Neoga CUSD 3
• NCES district ID: 1727840
• Math proficiency: 15% ▼ -7.00%
• Reading proficiency: 23% ▼ -10.00%
• Median HH income: $46,396
• Composite: 16.71/100
• National rank: #9166
• State rank: #442 of 620 in IL

Livability — Neoga

• Score: 73/100
• State rank: #282
• US rank: #5432

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 3,195
• Population (ZIP): 782

Population outlook (Coles County) Hauer SSP2

• Today (2025): 53,967 people
• By 2030: 53,829 · -0.3%
• By 2040: 52,332 · -3.0%
• By 2050: 49,989 · -7.4%
• By 2075: 42,226 · -21.8%
• By 2100: 34,675 · -35.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Hispanic / Latino 4% Two or more races 1%
• Common ancestry: Lithuanian 3% Romanian 3% Slovak 2%
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Coles

• 2024 margin: Strong R (+28.5) · D 34.9% · R 63.4% · Other 1.7%
• 2008→2024 swing: -31.7pp toward R · 2008: 3.2pp · 2024: -28.5pp
• All cycles: 2024: R+28.5 2020: R+26.4 2016: R+26.4 2012: R+11.1 2008: D+3.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.15%
• Current HPI: 154.9398
• 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

• 2026-03-13 Listed $34,000 CIBR