106 E Elm St · Gladstone, IL 61437

$69,500

3 bd · 2.0 ba · 1,441 sqft · SingleFamily public records · 33 Days on market

Built 1987 0.43 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
• Appreciation +7.6/10.0
• ARV discount +7.5/15.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0

Listing remarks

Three bedroom 2 bath manufactured home on corner lot. Three stall detached garage. Spacious deck with ramp access. Metal roof 11 years old. No appliances stay accept dishwasher. Home needs some love put in it. This is an as is sale

Key facts

• Metal roof
• Spacious deck
• Corner lot

Tags

• CORNER LOT
• SPACIOUS DECK
• METAL ROOF

Property features AI

Exterior

• Parking: Detached oversized 3-car garage
• Utilities: Public water and septic system
• Home design: Single family residence; Double wide mobile body; Manufactured by Wick, model 39134; Built in 1987
• Construction: Metal roof
• Exterior features: Level lot; Paved road access

Interior

• Kitchen: Kitchen included
• Bedrooms: 3 bedrooms (all on the main level)
• Flooring: Carpet in bedrooms and living areas; Vinyl in dining room and kitchen
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Gas water heater
• Interior features: Dishwasher; No basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $478 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $67k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 56/100 on livability (#1,204 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-; Watch: health & safety C-, crime D-, amenities F.
• West Central CUSD 235 (rural): math 8% / reading 10% proficiency, ranked #581 of 620 in IL (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: West Central High School (math 5% / reading 15%, grade F, #528 of 693 statewide, top 82%, 199 students, 0% FRL) — zoned schools average 0% FRL vs 48% district-wide (48 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 6 active listings in the ZIP; 5 units permitted in Henderson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($481 loan paydown + $4k appreciation (5.2% local appreciation)).
• Henderson County population projected at -31% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.2% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($67k) is reasonable based on typical stale-listing flexibility.

Recommended offer $67,415 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.74% ✓
• Cap rate: 14.54%
• Cash-on-cash: 29.46%
• DSCR: 2.31
• GRM: 4.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.17% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 39.0%
• Equity multiple: 3.42×
• Total profit: $47,146
• Equity at exit: $40,111

10-year hold

• IRR: 37.0%
• Equity multiple: 6.96×
• Total profit: $115,952
• Equity at exit: $69,834

Cash invested: $19,460 (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 61437

• Home prices YoY: 3.5%
• Active inventory: 6
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,213 medium
• Mortgage (P&I): −$364
• Tax est. 1.5%: −$87 /mo · $1,042/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $478

Break-even live

Break-even rent $608

Max offer price $69,500

Occupancy floor 56%

Sensitivity live

Price	-10% $526	-5% $502	+0% $478	+5% $454	+10% $430
Rent	-10% $382	-5% $430	+0% $478	+5% $526	+10% $574
Rate	-1.0pp $513	-0.5pp $495	base $478	+0.5pp $460	+1.0pp $441

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: $17,375
• Closing costs: $2,085
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $69,500 Active 33 DOM
2. 2026-06-19
   days on market $69,500 Active 31 DOM
3. 2026-06-18
   days on market $69,500 Active 30 DOM
4. 2026-06-17
   days on market $69,500 Active 29 DOM
5. 2026-06-16
   days on market $69,500 Active 28 DOM
6. 2026-06-15
   days on market $69,500 Active 27 DOM
7. 2026-06-14
   days on market $69,500 Active 25 DOM
8. 2026-06-12
   days on market $69,500 Active 24 DOM
9. 2026-06-09
   days on market $69,500 Active 21 DOM
10. 2026-06-08
    days on market $69,500 Active 20 DOM
11. 2026-06-07
    days on market $69,500 Active 19 DOM
12. 2026-06-07
    days on market $69,500 Active 18 DOM
13. 2026-06-02
    days on market $69,500 Active 14 DOM
14. 2026-06-01
    days on market $69,500 Active 13 DOM
15. 2026-05-31
    days on market $69,500 Active 12 DOM
16. 2026-05-30
    days on market $69,500 Active 11 DOM
17. 2026-05-18
    listed $69,500 Active

ⓘ 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 3/10 Moderate FEMA zone X (unshaded) · 12% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,552
• − Mortgage interest: −$3,893
• − Property taxes: −$1,042
• − Insurance: −$348
• − Repairs & maintenance: −$1,164
• − Management: −$1,164
• − Depreciation: −$2,022
• Taxable income: $4,919
• Est. tax owed @ 24.0%: −$1,181
• After-tax cash flow: $4,552/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: West Central CUSD 235
• NCES district ID: 1700319
• Math proficiency: 8% ▼ -3.00%
• Reading proficiency: 10% ▼ -9.00%
• Median HH income: $47,424
• Composite: 8.55/100
• National rank: #9902
• State rank: #581 of 620 in IL

Livability — Gladstone

• Score: 56/100
• State rank: #1204
• US rank: #22661

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gladstone, IL
• Population (ZIP): 504

Population outlook (Henderson County) Hauer SSP2

• Today (2025): 6,231 people
• By 2030: 5,815 · -6.7%
• By 2040: 5,016 · -19.5%
• By 2050: 4,310 · -30.8%
• By 2075: 3,166 · -49.2%
• By 2100: 2,285 · -63.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98%
• Common ancestry: Portuguese 3% Iranian 2%

Political lean MEDSL · Henderson

• 2024 margin: Solid R (+38.8) · D 29.6% · R 68.4% · Other 1.9%
• 2008→2024 swing: -56.5pp toward R · 2008: 17.7pp · 2024: -38.8pp
• All cycles: 2024: R+38.8 2020: R+33.0 2016: R+28.8 2012: D+12.3 2008: D+17.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.17%
• Current HPI: 150.9837
• 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

• 2026-05-18 Listed $69,500 RMLSA as Distributed by MLS Grid