1701 West Blvd

Belleville, IL 62221

$20,000C-

2 bd · 2.0 ba · 1,125 sqft · Built 1980 · Manufactured · Pending · 24 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,253/mo
• Mortgage (P&I): −$105
• Tax + insurance: −$29
• HOA: −$0
• Vac / Maint / Mgmt: −$263
• Net cashflow: $856/mo
• Annual: $10,268/yr
• Cap rate: 57.64%
• Cash-on-cash: 183.37%
• DSCR: 9.16
• 1% rule: 6.26%
• Cash to close: $5,600

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $20k.
• At list price, monthly cash flow is $856 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $20k).
• It's been on market 24 days — a 2% lower offer ($20k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $20k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $138 of loan paydown is wiped out by about $600 of value loss. Plan a longer hold.
• Location reads 78/100 on livability (#142 in IL, #2,604 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime F, amenities D-.
• Belleville Twp Hsd 201 (suburban): math 21% / reading 28% proficiency, ranked #308 of 620 in IL (top 50%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Jefferson Elem School (math 17% / reading 32%, grade F, #850 of 2,056 statewide, top 45%, 351 students, 0% FRL); West Jr High School (math 11% / reading 22%, grade F, #482 of 665 statewide, top 73%, 422 students, 0% FRL); Belleville High School-East (math 23% / reading 30%, grade F, #241 of 693 statewide, top 35%, 2,568 students, 0% FRL).
• Market conditions: Rents rising fast (+7.0%/yr); 160 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 783 units permitted in St. Clair County in 2024 (378 in 5+ unit buildings).
• St. Clair County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $15k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (-3.0% appreciation + 7.0% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 57.6% vs local median 5.6% in Belleville — 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.
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.