2067 New Lake Rd · South Jacksonville, IL 62650

$75,000

2 bd · 2.0 ba · 2,080 sqft · SingleFamily · 2 Days on market

Built 2008

---

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 +28.8/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking to stay within 3 miles of Jacksonville and have a few acres to enjoy? This may be the property for you, 2 bedroom, 2 bath, open floor plan with kitchen and living room, nice big yard shed and a gazebo. This property even has a pond! All this and close to town, great County Road District roads and close to Lake Jacksonville! What more could you ask for?

Key facts

• Weekend getaway
• Customize interior
• Personal retreat

Tags

• PRIVATE POND
• USABLE SPACE
• CUSTOMIZE INTERIOR
• PERSONAL RETREAT
• WEEKEND GETAWAY
• LONG-TERM POTENTIAL

Property features AI

Exterior

• Parking: Attached 2-car garage
• Utilities: Septic system
• Home design: Single-family residence; Built in 2008
• Construction: Shingle roof
• Exterior features: Property includes a pond/lake; 3-acre lot

Interior

• Kitchen: Kitchen on main level
• Bedrooms: Two bedrooms (both on the main level)
• Flooring: Luxury vinyl plank flooring in bedrooms and kitchen
• Bathrooms: Two full bathrooms
• Interior features: No basement; No fireplaces

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $253 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).

Location & tenants

• Location reads 71/100 on livability (#331 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: schools F, amenities F, commute F.
• Jacksonville SD 117 (town): math 20% / reading 23% proficiency, ranked #407 of 620 in IL (top 66%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 143 active listings in the ZIP; 3 units permitted in Morgan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Morgan County population projected at -20% 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 $21k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 18y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $65k; 15% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 4.0% of price.

Recommended offer $75,000

Questions for the listing agent

1. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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.
5. 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.
6. 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: 1.57% ✓
• Cap rate: 10.34%
• Cash-on-cash: 14.45%
• DSCR: 1.64
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $330,720
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
403 Timbercreek Dr	0.69mi	3/2.5 (+1)	2,073 (-0%)	10mo	$330,000	$159	52

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

Projected returns pro-forma

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

5-year hold

• IRR: 5.0%
• Equity multiple: 1.19×
• Total profit: $4,072
• Equity at exit: $11,183

10-year hold

• IRR: 14.5%
• Equity multiple: 2.18×
• Total profit: $24,758
• Equity at exit: $6,485

Cash invested: $21,000 (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 62650

• Active inventory: 143
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,178 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$253 /mo · $3,034/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$247
• Net cashflow: $253

Break-even live

Break-even rent $857

Max offer price $75,000

Occupancy floor 74%

Sensitivity live

Price	-10% $295	-5% $274	+0% $253	+5% $232	+10% $210
Rent	-10% $160	-5% $206	+0% $253	+5% $299	+10% $346
Rate	-1.0pp $291	-0.5pp $272	base $253	+0.5pp $233	+1.0pp $214

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-05-21
   status Pending
2. 2026-05-19
   listed $75,000 Active
3. 2021-08-06
   historical
4. 2017-03-30
   soldstatus $65,000 362-char remark

   Show marketing remark (362 chars)

   Looking to stay within 3 miles of Jacksonville and have a few acres to enjoy? This may be the property for you, 2 bedroom, 2 bath, open floor plan with kitchen and living room, nice big yard shed and a gazebo. This property even has a pond! All this and close to town, great County Road District roads and close to Lake Jacksonville! What more could you ask for?

5. 2016-10-03
   listed $77,760 362-char remark

   Show marketing remark (362 chars)

   Looking to stay within 3 miles of Jacksonville and have a few acres to enjoy? This may be the property for you, 2 bedroom, 2 bath, open floor plan with kitchen and living room, nice big yard shed and a gazebo. This property even has a pond! All this and close to town, great County Road District roads and close to Lake Jacksonville! What more could you ask for?

6. 2009-05-14
   soldstatus $110,000
7. 2009-04-20
   soldstatus $110,000
8. 2008-08-14
   listed $119,900
9. 2007-01-05
   soldstatus $35,000

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

Tax reassessment forecast IL · Partial reset (capped growth)

• Current annual tax: $3,034 · $253/mo
• Projected year-2 tax: $3,034 · $253/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥105°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,132
• − Mortgage interest: −$4,201
• − Property taxes: −$3,034
• − Insurance: −$375
• − Repairs & maintenance: −$1,131
• − Management: −$1,131
• − Depreciation: −$2,182
• Taxable income: $2,078
• Est. tax owed @ 24.0%: −$499
• After-tax cash flow: $2,536/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: Jacksonville SD 117
• NCES district ID: 1720280
• Math proficiency: 20% ▼ -3.00%
• Reading proficiency: 23% ▼ -6.00%
• Median HH income: $44,909
• Composite: 18.66/100
• National rank: #8888
• State rank: #407 of 620 in IL

Livability — South Jacksonville

• Score: 71/100
• State rank: #331
• US rank: #6557

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 24,318

Population outlook (Morgan County) Hauer SSP2

• Today (2025): 32,874 people
• By 2030: 31,698 · -3.6%
• By 2040: 29,050 · -11.6%
• By 2050: 26,381 · -19.8%
• By 2075: 20,235 · -38.4%
• By 2100: 14,324 · -56.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Black 7% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Lithuanian 2% Slovak 1% Iranian 1%
• Foreign-born: 1% · Canada, South Korea
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Morgan

• 2024 margin: Solid R (+32.5) · D 33.1% · R 65.6% · Other 1.3%
• 2008→2024 swing: -31.7pp toward R · 2008: -0.8pp · 2024: -32.5pp
• All cycles: 2024: R+32.5 2020: R+31.8 2016: R+29.9 2012: R+15.4 2008: R+0.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -84.33%
• Current HPI: 126.5712
• 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

+114.3% since first listed

9 events — show timeline

• 2026-05-21 Pending — RMLSA as Distributed by MLS Grid
• 2026-05-19 Listed $75,000 RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2017-03-30 Sold (MLS) $65,000 RMLSA as Distributed by MLS Grid
• 2016-10-03 Listed $77,760 RMLSA as Distributed by MLS Grid
• 2009-05-14 Sold (Public Records) $110,000 Public Records
• 2009-04-20 Sold (MLS) $110,000 RMLSA as Distributed by MLS Grid
• 2008-08-14 Listed $119,900 RMLSA as Distributed by MLS Grid
• 2007-01-05 Sold (Public Records) $35,000 Public Records

Property tax history

+1.8%/yr

Latest (2024): $3,034 · +3.9% YoY. Source: county tax records.