17203 #9 Blacktop · West Frankfort, IL 62896

$125,000

3 bd · 2.0 ba · 1,456 sqft · Other · 13 Days on market

Built 2003 Fair condition 2.02 ac lot

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Why this score? — see what drove the D+ 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 +21.3/30.0
• ARV discount +7.5/15.0
• DSCR +6.8/10.0
• 1% rule +5.2/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

2 acres with 2 car garage on the property. Power and water installed. There is also an existing septic system in ground, condition unknown and not warrantied by the seller.

Key facts

• Wooded backdrop
• 2 acre property
• Large barn

Tags

• 2 ACRE PROPERTY
• WOODED BACKDROP
• DETACHED GARAGE
• LARGE BARN
• RURAL SETTING

Property features AI

Finance

• Other: Holds earnest money; Possession at closing
• HOA & community: No master association fee required

Exterior

• Parking: Detached garage with 2 garage spaces (2 total parking spaces)
• Utilities: Public water; Septic tank sewer
• Home design: Detached single property; Manufactured home; Fee simple ownership; Approximately 21–25 years old; Vinyl siding exterior
• Construction: Vinyl siding construction; Built roughly 21–25 years ago
• Exterior features: Lot dimensions approx. 334 x 246 x 326 x 282; Property sits on roughly 2.0–2.99 acres; Directions: From I57 in West Frankfort go east on Main St, slight right (south) onto #9 Blacktop; property on the left

Interior

• Kitchen: Dishwasher; Refrigerator; Kitchen on main level (approx. 10 x 15)
• Bedrooms: Three bedrooms (all on the main level); Master bedroom on the main level with a full bath featuring tub and separate shower; Bedroom 2 (main) approximately 8 x 10; Bedroom 3 (main) approximately 10 x 11
• Bathrooms: Two full bathrooms
• Interior features: Six total rooms; Kitchen/dining combo
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $125k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $184 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Cap rate 8.1% vs local median 5.8% in West Frankfort — 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 56/100 on livability (#1,210 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime D, schools F, amenities F.
• Frankfort CUSD 168 (town): math 6% / reading 16% proficiency, ranked #577 of 620 in IL (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 90 active listings in the ZIP; 17 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Franklin County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 2y 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 $45k; list at $125k implies a 178% gain — meaningful room to come down on a strong offer.

Recommended offer $125,000

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. Crime grade is D 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 1.02% ✓
• Cap rate: 8.05%
• Cash-on-cash: 6.29%
• DSCR: 1.28
• GRM: 8.2

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: -6.6%
• Equity multiple: 0.76×
• Total profit: $-8,572
• Equity at exit: $18,638

10-year hold

• IRR: 3.0%
• Equity multiple: 1.22×
• Total profit: $7,562
• Equity at exit: $10,808

Cash invested: $35,000 (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 62896

• Active inventory: 90
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,273 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$115 /mo · $1,377/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$267
• Net cashflow: $184

Break-even live

Break-even rent $1,041

Max offer price $125,000

Occupancy floor 81%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-18
   days on market $125,000 Active 13 DOM
2. 2026-06-17
   days on market $125,000 Active 12 DOM
3. 2026-06-16
   days on market $125,000 Active 11 DOM
4. 2026-06-15
   days on market $125,000 Active 10 DOM
5. 2026-06-13
   days on market $125,000 Active 8 DOM
6. 2026-06-12
   days on market $125,000 Active 7 DOM
7. 2026-06-09
   days on market $125,000 Active 4 DOM
8. 2026-06-08
   days on market $125,000 Active 3 DOM
9. 2026-06-07
   remarks 493-char remark
10. 2026-06-07
    listed $125,000 Active 2 DOM

ⓘ 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: $1,377 · $115/mo
• Projected year-2 tax: $2,107 · $176/mo
• Expected delta: +$730/yr (+$61/mo · 53.1%)

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

Taxation est. · year 1

• Rental income: $15,279
• − Mortgage interest: −$7,002
• − Property taxes: −$1,377
• − Insurance: −$625
• − Repairs & maintenance: −$1,222
• − Management: −$1,222
• − Depreciation: −$3,636
• Taxable income: $194
• Est. tax owed @ 24.0%: −$47
• After-tax cash flow: $2,156/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 · 12 photos

Fair 45/100 Moderate rehab

This 1456 sqft manufactured home requires moderate renovations to complete the kitchen and bathroom, repair the exterior, and install flooring. The property offers a peaceful rural setting with potential for expansion and storage.

Repairs flagged

• Major kitchen cabinets — cabinets missing
• Major bathroom drywall — drywall missing
• Major exterior siding — siding missing
• Major interior walls — drywall missing
• Major flooring — hardwood and carpet missing

Value-add opportunities

• Both complete kitchen and bathroom — essential for livability and appeal
• Both repair and paint exterior — enhances curb appeal and value
• Both install flooring — improves comfort and aesthetics
• Both complete HVAC system — essential for comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · cabinets missing	Major	$15,000–50,000
bathroom drywall · drywall missing	Major	$15,000–50,000
exterior siding · siding missing	Major	$15,000–50,000
interior walls · drywall missing	Major	$15,000–50,000
flooring · hardwood and carpet missing	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both complete kitchen and bathroom — essential for livability and appeal ↑
• Both repair and paint exterior — enhances curb appeal and value ↑
• Both install flooring — improves comfort and aesthetics ↑
• Both complete HVAC system — essential for comfort and energy efficiency ↑

ⓘ 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: Frankfort CUSD 168
• NCES district ID: 1741580
• Math proficiency: 6% ▼ -9.00%
• Reading proficiency: 16% ▼ -10.00%
• Median HH income: $34,447
• Composite: 8.93/100
• National rank: #9886
• State rank: #577 of 620 in IL

Livability — West Frankfort

• Score: 56/100
• State rank: #1210
• US rank: #22742

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 10,691
• Population (ZIP): 10,691

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 37,954 people
• By 2030: 36,828 · -3.0%
• By 2040: 34,452 · -9.2%
• By 2050: 31,855 · -16.1%
• By 2075: 25,171 · -33.7%
• By 2100: 18,462 · -51.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 2%
• Common ancestry: Romanian 2% Lithuanian 1% Iranian 1%
• Foreign-born: 1% · Canada, Jamaica
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Franklin

• 2024 margin: Solid R (+50.6) · D 24.1% · R 74.6% · Other 1.3%
• 2008→2024 swing: -47.8pp toward R · 2008: -2.8pp · 2024: -50.6pp
• All cycles: 2024: R+50.6 2020: R+47.5 2016: R+45.3 2012: R+16.8 2008: R+2.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -94.00%
• Current HPI: 86.36
• 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

+177.8% since first listed

3 events — show timeline

• 2026-06-05 Listed $125,000 MRED as Distributed by MLS Grid
• 2025-01-22 Sold (MLS) $45,000 MRED as Distributed by MLS Grid
• 2024-12-10 Listed $45,000 MRED as Distributed by MLS Grid

Property tax history

+3.2%/yr

Latest (2024): $1,377 · +3.2% YoY. Source: county tax records.