1713 W Highway 50 #23

O'Fallon, IL 62269

$30,100D

3 bd · 2.0 ba · 1,216 sqft · Built 2026 · Manufactured · Active · 42 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,325/mo
• Mortgage (P&I): −$158
• Tax + insurance: −$50
• HOA: −$0
• Vac / Maint / Mgmt: −$278
• Net cashflow: $839/mo
• Annual: $10,068/yr
• Cap rate: 39.74%
• Cash-on-cash: 119.46%
• DSCR: 6.32
• 1% rule: 4.40%
• Cash to close: $8,428

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $30k. Condition is rated fair.
• At list price, monthly cash flow is $839 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• It's been on market 42 days — a 3% lower offer ($29k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $29k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $208 of loan paydown is wiped out by about $903 of value loss. Plan a longer hold.
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• O Fallon Twp Hsd 203 (suburban): math 32% / reading 40% proficiency, ranked #145 of 620 in IL (top 23%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Central Elem School (math 12% / reading 22%, grade F, #1,141 of 2,056 statewide, top 59%, 366 students, 0% FRL); Joseph Arthur Middle School (math 8% / reading 17%, grade F, #550 of 665 statewide, top 84%, 234 students, 0% FRL); O Fallon High School (math 32% / reading 40%, grade F, #120 of 693 statewide, top 17%, 2,521 students, 0% FRL).
• Zoned-school proficiency averages 22% at this address vs 36% district-wide (-14 pts) — the specific schools serving this property underperform the O Fallon Twp Hsd 203 average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+6.6%/yr); 378 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 55d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 783 units permitted in St. Clair County in 2024 (378 in 5+ unit buildings).
• St. Clair County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 6.6% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.
• Cap rate 39.7% vs local median 3.5% in O'Fallon — 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.
• This rent is only 15% of the median local income ($104k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof — Significant wear and tear visible
• Major: siding — Aging and potential damage
• Major: landscaping — Overgrown and needs trimming