30396 Domino Ln

Godfrey, IL 62035

$89,000C+

2 bd · 1.0 ba · 980 sqft · Built 1983 · Manufactured · Active · 19 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,116/mo
• Mortgage (P&I): −$467
• Tax + insurance: −$120
• HOA: −$0
• Vac / Maint / Mgmt: −$234
• Net cashflow: $295/mo
• Annual: $3,540/yr
• Cap rate: 10.27%
• Cash-on-cash: 14.21%
• DSCR: 1.63
• 1% rule: 1.25%
• Cash to close: $24,920

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $89k.
• At list price, monthly cash flow is $295 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• It's been on market 19 days — a 2% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $88k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $615 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• 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.
• Jersey CUSD 100 (town): math 25% / reading 32% proficiency, ranked #260 of 620 in IL (top 42%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 61 active listings in the ZIP; 101 units permitted in Jersey County in 2024 (68 in 5+ unit buildings).
• Jersey County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $14k; list at $89k implies a 559% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~9 years — after that, you're playing with house money.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 10.3% 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.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.