14218 N 2275th St · Oblong, IL 62449

$80,000

3 bd · 2.0 ba · 1,352 sqft · Manufactured · 229 Days on market

Built 2003 1,352 sqft lot ↓ 11% since listing

---

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
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• ARV discount +7.5/15.0
• Appreciation +6.1/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0

Listing remarks MLS

BUYER MUST MOVE | Seller is offering up to $20,000 in moving expenses | Well-maintained 3-bedroom, 2-bath manufactured home ready for its next owner! This spacious home features a master suite with a large tub and separate shower, newer vinyl flooring, and a newer AC unit for comfort and efficiency. The open layout provides plenty of living space, and the kitchen and dining areas flow nicely for everyday living or entertaining. A 10' x 14.5' front porch and side steps are included in the sale (buyer responsible for removal). This is a great opportunity to own a move-in-ready home at an affordable price - perfect for relocation to your own land or park lot.

Key facts

• 1,352 sq ft lot
• Built 2003
• Listed 229 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $80k.

Deal economics

• At list price, monthly cash flow is $365 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#693 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A-; Watch: schools F, amenities F, commute F.
• Oblong CUSD 4 (rural): math 10% / reading 23% proficiency, ranked #486 of 620 in IL (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 11 active listings in the ZIP.

Forward outlook

• In year one you build about $2k of equity ($553 loan paydown + $2k appreciation (2.2% local appreciation)).
• Jasper County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.2% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 229 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $70,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 229 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.45% ✓
• Cap rate: 11.77%
• Cash-on-cash: 19.54%
• DSCR: 1.87
• GRM: 5.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.2% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.2%
• Equity multiple: 2.32×
• Total profit: $29,553
• Equity at exit: $32,422

10-year hold

• IRR: 25.8%
• Equity multiple: 4.44×
• Total profit: $76,970
• Equity at exit: $47,364

Cash invested: $22,400 (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 62449

• Home prices YoY: 1.8%
• Active inventory: 11
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,162 medium
• Mortgage (P&I): −$420
• Tax est. 1.5%: −$100 /mo · $1,200/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$244
• Net cashflow: $365

Break-even live

Break-even rent $700

Max offer price $80,000

Occupancy floor 64%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $80,000 Active 229 DOM
2. 2026-06-17
   days on market $80,000 Active 228 DOM
3. 2026-06-16
   days on market $80,000 Active 227 DOM
4. 2026-06-15
   days on market $80,000 Active 226 DOM
5. 2026-06-13
   days on market $80,000 Active 224 DOM
6. 2026-06-12
   days on market $80,000 Active 223 DOM
7. 2026-06-09
   days on market $80,000 Active 220 DOM
8. 2026-06-08
   days on market $80,000 Active 219 DOM
9. 2026-06-07
   days on market $80,000 Active 218 DOM
10. 2026-06-04
    days on market $80,000 Active 214 DOM
11. 2026-06-02
    days on market $80,000 Active 213 DOM
12. 2026-06-01
    days on market $80,000 Active 212 DOM
13. 2026-05-31
    days on market $80,000 Active 211 DOM
14. 2026-05-31
    days on market $80,000 Active 210 DOM
15. 2026-04-28
    status Active 664-char remark

    Show marketing remark (664 chars)

    BUYER MUST MOVE | Seller is offering up to $20,000 in moving expenses | Well-maintained 3-bedroom, 2-bath manufactured home ready for its next owner! This spacious home features a master suite with a large tub and separate shower, newer vinyl flooring, and a newer AC unit for comfort and efficiency. The open layout provides plenty of living space, and the kitchen and dining areas flow nicely for everyday living or entertaining. A 10' x 14.5' front porch and side steps are included in the sale (buyer responsible for removal). This is a great opportunity to own a move-in-ready home at an affordable price - perfect for relocation to your own land or park lot.

16. 2026-01-08
    price $80,000 664-char remark

    Show marketing remark (664 chars)

    BUYER MUST MOVE | Seller is offering up to $20,000 in moving expenses | Well-maintained 3-bedroom, 2-bath manufactured home ready for its next owner! This spacious home features a master suite with a large tub and separate shower, newer vinyl flooring, and a newer AC unit for comfort and efficiency. The open layout provides plenty of living space, and the kitchen and dining areas flow nicely for everyday living or entertaining. A 10' x 14.5' front porch and side steps are included in the sale (buyer responsible for removal). This is a great opportunity to own a move-in-ready home at an affordable price - perfect for relocation to your own land or park lot.

17. 2025-10-29
    listed $90,000 Active 664-char remark

    Show marketing remark (664 chars)

    BUYER MUST MOVE | Seller is offering up to $20,000 in moving expenses | Well-maintained 3-bedroom, 2-bath manufactured home ready for its next owner! This spacious home features a master suite with a large tub and separate shower, newer vinyl flooring, and a newer AC unit for comfort and efficiency. The open layout provides plenty of living space, and the kitchen and dining areas flow nicely for everyday living or entertaining. A 10' x 14.5' front porch and side steps are included in the sale (buyer responsible for removal). This is a great opportunity to own a move-in-ready home at an affordable price - perfect for relocation to your own land or park lot.

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

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,939
• − Mortgage interest: −$4,481
• − Property taxes: −$1,200
• − Insurance: −$400
• − Repairs & maintenance: −$1,115
• − Management: −$1,115
• − Depreciation: −$2,327
• Taxable income: $3,301
• Est. tax owed @ 24.0%: −$792
• After-tax cash flow: $3,586/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: Oblong CUSD 4
• NCES district ID: 1729420
• Math proficiency: 10% ▼ -6.00%
• Reading proficiency: 23% ▼ -15.00%
• Median HH income: $45,809
• Composite: 14.56/100
• National rank: #9415
• State rank: #486 of 620 in IL

Livability — Oblong

• Score: 64/100
• State rank: #693
• US rank: #14139

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 2,883
• Population (ZIP): 2,883

Population outlook (Jasper County) Hauer SSP2

• Today (2025): 9,203 people
• By 2030: 8,927 · -3.0%
• By 2040: 8,350 · -9.3%
• By 2050: 7,733 · -16.0%
• By 2075: 6,335 · -31.2%
• By 2100: 4,960 · -46.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 3% Black 1%
• Common ancestry: Lithuanian 2% Romanian 2% Polish 1%
• Foreign-born: 0% · Canada
• Languages at home: 97% English-only · Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Jasper

• 2024 margin: Solid R (+65.2) · D 16.8% · R 82.1% · Other 1.1%
• 2008→2024 swing: -47.7pp toward R · 2008: -17.6pp · 2024: -65.2pp
• All cycles: 2024: R+65.2 2020: R+62.4 2016: R+59.7 2012: R+41.2 2008: R+17.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.20%
• Current HPI: 125.0605
• 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

-11.1% since first listed

3 events — show timeline

• 2026-04-28 Relisted — CIBR
• 2026-01-08 Price Changed $80,000 CIBR
• 2025-10-29 Listed $90,000 CIBR

Property tax history

-3.3%/yr

Latest (2024): $15 · -2.2% YoY. Source: county tax records.