205 E Union St

Jonesboro, IL 62952

$38,900B

2 bd · 1.0 ba · 696 sqft · Built 1970 · Manufactured · Active · 14 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $750/mo
• Mortgage (P&I): −$204
• Tax + insurance: −$99
• HOA: −$0
• Vac / Maint / Mgmt: −$158
• Net cashflow: $290/mo
• Annual: $3,478/yr
• Cap rate: 17.28%
• Cash-on-cash: 39.25%
• DSCR: 2.75
• 1% rule: 1.93%
• Cash to close: $10,892

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $39k.
• At list price, monthly cash flow is $290 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($750 rent vs $39k).
• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $378 of equity ($269 loan paydown + $109 appreciation (0.3% local appreciation)).
• Location reads 64/100 on livability (#699 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment D-.
• County Of Union School District No43 (town): math 36% / reading 55% proficiency, ranked #246 of 919 in IL (top 27%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Jonesboro Elem School (reading 24%, 341 students, 0% FRL); Anna-Jonesboro High School (math 12% / reading 22%, grade F, #430 of 693 statewide, top 66%, 497 students, 0% FRL) — zoned schools average 0% FRL vs 50% district-wide (50 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 17% at this address vs 46% district-wide (-28 pts) — the specific schools serving this property underperform the County Of Union School District No43 average; the district grade overstates school quality for this exact location.
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: 21 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 10 units permitted in Union County in 2024 (0 in 5+ unit buildings).
• Union County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.3% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-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.