2716 W Delmar Ave #42 · Godfrey, IL 62035

$27,400

3 bd · 2.0 ba · 1,036 sqft · Manufactured · 109 Days on market

Built 2026 Fair condition

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

* THIS IS A RESALE LISTING * This welcoming, well-maintained 3 bedroom, 2 bathroom home is a perfect place to raise your family. For your convenience, we have onsite community management to assist you when you need it. With our family-friendly community amenities such as community events, a playground, and , your family will be excited to live here. This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

Key facts

• Built 2026
• Listed 109 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $27k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $908 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $27k).
• Recommended offer: $25k (9.0% below list) — sets the bar for market timing.
• Cap rate 46.1% vs local median 3.6% in Godfrey — 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 64/100 on livability (#683 in IL) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Alton CUSD 11 (suburban): math 12% / reading 13% proficiency, ranked #544 of 620 in IL (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 61 active listings in the ZIP; 336 units permitted in Madison County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $189 of loan paydown is wiped out by about $822 of value loss. Plan a longer hold.
• Madison County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 109 days — a 9% lower offer ($25k) is reasonable based on typical stale-listing flexibility.

Recommended offer $24,934 (9.0% below list)

Questions for the listing agent

1. It's been on market 109 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. 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 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 5.07% ✓
• Cap rate: 46.05%
• Cash-on-cash: 142.00%
• DSCR: 7.32
• GRM: 1.6

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: —
• Equity multiple: 7.96×
• Total profit: $53,402
• Equity at exit: $4,085

10-year hold

• IRR: —
• Equity multiple: 16.78×
• Total profit: $121,041
• Equity at exit: $2,369

Cash invested: $7,672 (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 62035

• Home prices YoY: -26.0%
• Active inventory: 61
• Price-to-rent: 1.6×

Monthly cashflow live

• Estimated rent: $1,389 medium
• Mortgage (P&I): −$144
• Tax est. 1.5%: −$34 /mo · $411/yr
• Insurance: −$11
• HOA: −$0
• Vacancy / Maint / Mgmt: −$292
• Net cashflow: $908

Break-even live

Break-even rent $240

Max offer price $27,400

Occupancy floor 30%

Sensitivity live

Price	-10% $927	-5% $917	+0% $908	+5% $898	+10% $889
Rent	-10% $798	-5% $853	+0% $908	+5% $963	+10% $1,018
Rate	-1.0pp $922	-0.5pp $915	base $908	+0.5pp $901	+1.0pp $894

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: $6,850
• Closing costs: $822
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-09
   days on market $27,400 Active 109 DOM
2. 2026-06-08
   days on market $27,400 Active 108 DOM
3. 2026-06-07
   days on market $27,400 Active 107 DOM
4. 2026-06-03
   days on market $27,400 Active 103 DOM
5. 2026-06-02
   days on market $27,400 Active 102 DOM
6. 2026-06-01
   pricedays on market $27,400 Active 101 DOM
7. 2026-05-31
   days on market $26,900 Active 100 DOM
8. 2026-02-20
   listed $26,900 Active 499-char remark

   Show marketing remark (499 chars)

   * THIS IS A RESALE LISTING * This welcoming, well-maintained 3 bedroom, 2 bathroom home is a perfect place to raise your family. For your convenience, we have onsite community management to assist you when you need it. With our family-friendly community amenities such as community events, a playground, and , your family will be excited to live here. This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

ⓘ 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: $16,666
• − Mortgage interest: −$1,535
• − Property taxes: −$411
• − Insurance: −$137
• − Repairs & maintenance: −$1,333
• − Management: −$1,333
• − Depreciation: −$797
• Taxable income: $11,120
• Est. tax owed @ 24.0%: −$2,669
• After-tax cash flow: $8,225/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 · 2 photos

Fair 45/100 Cosmetic rehab

This manufactured home has a fair condition with some cosmetic updates needed to enhance its curb appeal and overall appearance.

Repairs flagged

• Minor interior paint — The exterior paint appears to be in good condition, but the interior paint is not visible.
• Minor interior flooring — The exterior flooring appears to be in good condition, but the interior flooring is not visible.
• Minor interior systems — The exterior systems appear to be in good condition, but the interior systems are not visible.

Value-add opportunities

• Resale paint exterior — Fresh paint can enhance the home's curb appeal and make it more attractive to potential buyers.
• Resale update flooring — Upgrading the flooring can improve the home's overall appearance and make it more appealing to potential buyers.
• Resale update interior systems — Updating the interior systems can improve the home's functionality and make it more attractive to potential buyers.

Renovation cost estimate screening

Repair item	Severity	Est. cost
interior paint · The exterior paint appears to be in good condition, but the interior paint is not visible.	Minor	$500–3,000
interior flooring · The exterior flooring appears to be in good condition, but the interior flooring is not visible.	Minor	$500–3,000
interior systems · The exterior systems appear to be in good condition, but the interior systems are not visible.	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Resale paint exterior — Fresh paint can enhance the home's curb appeal and make it more attractive to potential buyers. ↑
• Resale update flooring — Upgrading the flooring can improve the home's overall appearance and make it more appealing to potential buyers. ↑
• Resale update interior systems — Updating the interior systems can improve the home's functionality and make it more attractive to potential buyers. ↑

ⓘ 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: Alton CUSD 11
• NCES district ID: 1703600
• Math proficiency: 12% ▼ -10.00%
• Reading proficiency: 13% ▼ -10.00%
• Median HH income: $46,257
• Composite: 11.34/100
• National rank: #9710
• State rank: #544 of 620 in IL

Livability — Godfrey

• Score: 64/100
• State rank: #683
• US rank: #13969

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Godfrey, IL
• City population: 15,915
• Population (ZIP): 15,915

Population outlook (Madison County) Hauer SSP2

• Today (2025): 258,371 people
• By 2030: 251,523 · -2.7%
• By 2040: 233,640 · -9.6%
• By 2050: 213,042 · -17.5%
• By 2075: 165,255 · -36.0%
• By 2100: 123,953 · -52.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Black 5% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Italian 3% Romanian 2% Slovak 2%
• Foreign-born: 1%

Political lean MEDSL · Madison

• 2024 margin: R (+13.3) · D 42.5% · R 55.8% · Other 1.8%
• 2008→2024 swing: -22.5pp toward R · 2008: 9.2pp · 2024: -13.3pp
• All cycles: 2024: R+13.3 2020: R+13.2 2016: R+15.6 2012: R+1.4 2008: D+9.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -71.86%
• Current HPI: 204.9507
• 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

• 2026-02-20 Listed $26,900 Zillow