2716 W Delmar Ave #50 · Godfrey, IL 62035

$45,200

3 bd · 2.0 ba · 1,216 sqft · Manufactured · 10 Days on market

Built 2026 Fair condition

---

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
• ARV discount +7.5/15.0
• 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

* 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 a playground, community events, 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 10 days

Property features AI

Finance

• Other: Address: 2716 W Delmar Ave #50, Godfrey, IL 62035
• Financial info: List price $45,200

Exterior

• Utilities: Natural gas; Central air
• Home design: Spec build; Plan name 90981; Property is listed as Active
• Exterior features: Living area 1,216

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: 2 total bathrooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $45k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $793 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Cap rate 27.3% vs local median 3.8% 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: amenities F, commute F, health & safety 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.
• Zoned schools: Gilson Brown Elem School (274 students, 0% FRL); Alton Middle School (math 10% / reading 11%, grade F, #580 of 665 statewide, top 88%, 1,241 students, 0% FRL); Alton High School (math 20% / reading 25%, grade F, #317 of 693 statewide, top 46%, 1,990 students, 0% FRL) — zoned schools average 0% FRL vs 60% district-wide (60 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 67 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 $313 of loan paydown is wiped out by about $1k 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 $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $45,200

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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: 3.09% ✓
• Cap rate: 27.33%
• Cash-on-cash: 75.15%
• DSCR: 4.34
• GRM: 2.7

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: 75.0%
• Equity multiple: 4.41×
• Total profit: $43,176
• Equity at exit: $6,739

10-year hold

• IRR: 78.8%
• Equity multiple: 9.11×
• Total profit: $102,682
• Equity at exit: $3,908

Cash invested: $12,656 (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: 67
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $1,399 medium
• Mortgage (P&I): −$237
• Tax est. 1.5%: −$56 /mo · $678/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $793

Break-even live

Break-even rent $395

Max offer price $45,200

Occupancy floor 38%

Sensitivity live

Price	-10% $824	-5% $808	+0% $793	+5% $777	+10% $761
Rent	-10% $682	-5% $737	+0% $793	+5% $848	+10% $903
Rate	-1.0pp $815	-0.5pp $804	base $793	+0.5pp $781	+1.0pp $769

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: $11,300
• Closing costs: $1,356
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-21
   days on market $45,200 Active 10 DOM
2. 2026-06-18
   days on market $45,200 Active 7 DOM
3. 2026-06-17
   days on market $45,200 Active 6 DOM
4. 2026-06-16
   days on market $45,200 Active 5 DOM
5. 2026-06-15
   days on market $45,200 Active 4 DOM
6. 2026-06-13
   remarks 495-char remark
7. 2026-06-13
   listed $45,200 Active 2 DOM

ⓘ 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: $16,784
• − Mortgage interest: −$2,532
• − Property taxes: −$678
• − Insurance: −$226
• − Repairs & maintenance: −$1,343
• − Management: −$1,343
• − Depreciation: −$1,315
• Taxable income: $9,348
• Est. tax owed @ 24.0%: −$2,243
• After-tax cash flow: $7,267/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 Moderate rehab

This manufactured home requires significant repairs and updates to its roof, siding, and interior, as well as landscaping improvements. These repairs and updates will significantly increase its resale and rental value.

Repairs flagged

• Major roof — Signs of wear and discoloration suggest significant damage and potential water intrusion.
• Major siding — The siding is visibly worn and discolored, indicating it needs repainting or replacement.
• Major landscaping — The overgrown landscaping detracts from the home's curb appeal and requires trimming and maintenance.
• Major interior walls/paint — The exterior condition suggests the interior may also be in poor condition, requiring repainting or repairs.
• Major systems — The overall condition suggests the systems may need updating or replacement to ensure the home is move-in ready.

Value-add opportunities

• Both painting — Repainting the exterior and interior will improve the home's curb appeal and condition, making it more attractive to potential buyers and renters.
• Both landscaping — Trimming and maintaining the landscaping will enhance the home's curb appeal and make it more inviting to potential buyers and renters.
• Both roof repair — Repairing the roof will address a major issue and prevent further water damage, making the home more attractive and safer for potential buyers and renters.
• Both siding replacement — Replacing the siding will improve the home's curb appeal and condition, making it more attractive to potential buyers and renters.
• Both interior repairs — Repairing the interior will improve the home's condition and make it more attractive to potential buyers and renters.
• Both system updates — Updating the systems will ensure the home is in good working condition and make it more attractive to potential buyers and renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Signs of wear and discoloration suggest significant damage and potential water intrusion.	Major	$15,000–50,000
siding · The siding is visibly worn and discolored, indicating it needs repainting or replacement.	Major	$15,000–50,000
landscaping · The overgrown landscaping detracts from the home's curb appeal and requires trimming and maintenance.	Major	$15,000–50,000
interior walls/paint · The exterior condition suggests the interior may also be in poor condition, requiring repainting or repairs.	Major	$15,000–50,000
systems · The overall condition suggests the systems may need updating or replacement to ensure the home is move-in ready.	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both painting — Repainting the exterior and interior will improve the home's curb appeal and condition, making it more attractive to potential buyers and renters. ↑
• Both landscaping — Trimming and maintaining the landscaping will enhance the home's curb appeal and make it more inviting to potential buyers and renters. ↑
• Both roof repair — Repairing the roof will address a major issue and prevent further water damage, making the home more attractive and safer for potential buyers and renters. ↑
• Both siding replacement — Replacing the siding will improve the home's curb appeal and condition, making it more attractive to potential buyers and renters. ↑
• Both interior repairs — Repairing the interior will improve the home's condition and make it more attractive to potential buyers and renters. ↑
• Both system updates — Updating the systems will ensure the home is in good working condition and make it more attractive to potential buyers and renters. ↑

ⓘ 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