12 Sportsmans Dr

Diamond, IL 60416

$101,499B

3 bd · 2.0 ba · 1,216 sqft · Built 2025 · Manufactured · Active · 239 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,438/mo
• Mortgage (P&I): −$532
• Tax + insurance: −$169
• HOA: −$0
• Vac / Maint / Mgmt: −$302
• Net cashflow: $434/mo
• Annual: $5,210/yr
• Cap rate: 11.43%
• Cash-on-cash: 18.33%
• DSCR: 1.82
• 1% rule: 1.42%
• Cash to close: $28,420

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $101k. Condition is rated good.
• At list price, monthly cash flow is $434 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $101k).
• It's been on market 239 days — a 12% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $89k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $701 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#697 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing B; Watch: health & safety C-, schools F, amenities F.
• Coal City CUSD 1 (town): math 46% / reading 50% proficiency, ranked #65 of 620 in IL (top 10%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 42 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 84 units permitted in Grundy County in 2024 (0 in 5+ unit buildings).
• Grundy 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 $28k cash investment doubles in ~7 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 239 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.