1401 N 3rd St · Riverton, IL 62561

$35,000

3 bd · 2.0 ba · 1,064 sqft · Manufactured · 58 Days on market

Built 2020 Poor condition ↓ 57% since listing

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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
• Schools +1.2/10.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful 3-bedroom 2 bath home located in desirable Riverton school district. Financing options available.

Key facts

• Corner lot
• Built 2020
• Listed 58 days

Tags

• CORNER LOT
• RIVERTON SCHOOL DISTRICT

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $35k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $722 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Recommended offer: $34k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#615 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B+; Watch: schools F, amenities F, commute F.
• Riverton CUSD 14 (suburban): math 9% / reading 16% proficiency, ranked #530 of 620 in IL (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 7 active listings in the ZIP; 225 units permitted in Sangamon County in 2024 (48 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $242 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Sangamon County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($34k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 133% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Recommended offer $33,950 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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: 3.49% ✓
• Cap rate: 31.05%
• Cash-on-cash: 88.41%
• DSCR: 4.93
• GRM: 2.4

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: 89.0%
• Equity multiple: 5.12×
• Total profit: $40,332
• Equity at exit: $5,219

10-year hold

• IRR: 92.0%
• Equity multiple: 10.63×
• Total profit: $94,407
• Equity at exit: $3,026

Cash invested: $9,800 (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 62561

• Home prices YoY: -28.3%
• Active inventory: 7
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $1,220 medium
• Mortgage (P&I): −$184
• Tax est. 1.5%: −$44 /mo · $525/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $722

Break-even live

Break-even rent $306

Max offer price $35,000

Occupancy floor 36%

Sensitivity live

Price	-10% $746	-5% $734	+0% $722	+5% $710	+10% $698
Rent	-10% $626	-5% $674	+0% $722	+5% $770	+10% $818
Rate	-1.0pp $740	-0.5pp $731	base $722	+0.5pp $713	+1.0pp $704

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $35,000 Active 58 DOM
2. 2026-06-18
   days on market $35,000 Active 57 DOM
3. 2026-06-17
   days on market $35,000 Active 56 DOM
4. 2026-06-16
   days on market $35,000 Active 55 DOM
5. 2026-06-15
   days on market $35,000 Active 54 DOM
6. 2026-06-14
   days on market $35,000 Active 52 DOM
7. 2026-06-13
   days on market $35,000 Active 51 DOM
8. 2026-06-10
   days on market $35,000 Active 49 DOM
9. 2026-06-09
   days on market $35,000 Active 48 DOM
10. 2026-06-08
    days on market $35,000 Active 47 DOM
11. 2026-06-07
    days on market $35,000 Active 46 DOM
12. 2026-06-05
    days on market $35,000 Active 43 DOM
13. 2026-06-02
    days on market $35,000 Active 41 DOM
14. 2026-06-01
    days on market $35,000 Active 40 DOM
15. 2026-05-31
    days on market $35,000 Active 39 DOM
16. 2026-05-30
    days on market $35,000 Active 38 DOM
17. 2026-05-12
    listed $15,000 Active 107-char remark

    Show marketing remark (107 chars)

    Beautiful 3-bedroom 2 bath home located in desirable Riverton school district. Financing options available.

18. 2026-04-21
    listed $35,000 Active 169-char remark

    Show marketing remark (169 chars)

    Own your own home with this newer model, beautiful 3 bedroom 2 bath home. Located on a corner lot in the desirable Riverton school district. Financing options available.

19. 2021-08-06
    historical
20. 2021-08-06
    historical

ⓘ 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: $14,641
• − Mortgage interest: −$1,961
• − Property taxes: −$525
• − Insurance: −$175
• − Repairs & maintenance: −$1,171
• − Management: −$1,171
• − Depreciation: −$1,018
• Taxable income: $8,620
• Est. tax owed @ 24.0%: −$2,069
• After-tax cash flow: $6,595/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 · 1 photo

Poor 20/100 Extensive rehab

This manufactured home requires extensive repairs and updates to its exterior, interior, and landscaping to improve its condition and value.

Repairs flagged

• Major siding — Significant weathering and damage
• Major roof — Siding condition suggests underlying roof issues
• Major flooring — Overall condition suggests need for replacement
• Major interior walls/paint — Overall condition suggests need for repair
• Major kitchen — Overall condition suggests need for replacement
• Major bathrooms — Overall condition suggests need for repair
• Major HVAC/mechanicals — Overall condition suggests need for replacement
• Major landscaping — Overgrown yard, needs trimming and planting

Value-add opportunities

• Both exterior siding and roof repair — Improves curb appeal and structural integrity
• Both interior paint and flooring — Enhances living space and value
• Both kitchen and bathroom updates — Modernizes spaces and increases value
• Both HVAC and mechanicals — Ensures comfort and energy efficiency
• Both landscaping and curb appeal — Enhances property's visual appeal and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
siding · Significant weathering and damage	Major	$15,000–50,000
roof · Siding condition suggests underlying roof issues	Major	$15,000–50,000
flooring · Overall condition suggests need for replacement	Major	$15,000–50,000
interior walls/paint · Overall condition suggests need for repair	Major	$15,000–50,000
kitchen · Overall condition suggests need for replacement	Major	$15,000–50,000
bathrooms · Overall condition suggests need for repair	Major	$15,000–50,000
HVAC/mechanicals · Overall condition suggests need for replacement	Major	$15,000–50,000
landscaping · Overgrown yard, needs trimming and planting	Major	$15,000–50,000
Total estimated repair cost · 8 items		$120,000–400,000

Value-add ROI direction

• Both exterior siding and roof repair — Improves curb appeal and structural integrity ↑
• Both interior paint and flooring — Enhances living space and value ↑
• Both kitchen and bathroom updates — Modernizes spaces and increases value ↑
• Both HVAC and mechanicals — Ensures comfort and energy efficiency ↑
• Both landscaping and curb appeal — Enhances property's visual appeal and value ↑

ⓘ 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: Riverton CUSD 14
• NCES district ID: 1734100
• Math proficiency: 9% ▼ -10.00%
• Reading proficiency: 16% ▼ -11.00%
• Median HH income: $56,531
• Composite: 12.3/100
• National rank: #9643
• State rank: #530 of 620 in IL

Livability — Riverton

• Score: 65/100
• State rank: #615
• US rank: #12640

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Riverton, IL
• Population (ZIP): 4,927

Population outlook (Sangamon County) Hauer SSP2

• Today (2025): 198,317 people
• By 2030: 196,127 · -1.1%
• By 2040: 188,664 · -4.9%
• By 2050: 179,624 · -9.4%
• By 2075: 155,027 · -21.8%
• By 2100: 122,588 · -38.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Slovak 3% Lithuanian 1% Scottish 1%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Sangamon

• 2024 margin: Toss-up / Even · D 46.6% · R 51.6% · Other 1.8%
• 2008→2024 swing: -9.3pp toward R · 2008: 4.4pp · 2024: -5.0pp
• All cycles: 2024: R+5.0 2020: R+4.4 2016: R+9.4 2012: R+8.7 2008: D+4.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -66.05%
• Current HPI: 167.2962
• 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

-57.1% since first listed

4 events — show timeline

• 2026-05-12 Listed $15,000 FSBO.com
• 2026-04-21 Listed $35,000 Fizber.com
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid