80 Country Elms Est #80

Galesburg, IL 61401

$20,100D

3 bd · 1.0 ba · 896 sqft · Built 2026 · Manufactured · Active · 38 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,073/mo
• Mortgage (P&I): −$105
• Tax + insurance: −$34
• HOA: −$0
• Vac / Maint / Mgmt: −$225
• Net cashflow: $708/mo
• Annual: $8,502/yr
• Cap rate: 48.59%
• Cash-on-cash: 151.06%
• DSCR: 7.72
• 1% rule: 5.34%
• Cash to close: $5,628

Investor read

• This is a 3-bed/1.0-bath manufactured listed at $20k.
• At list price, monthly cash flow is $708 ($9k/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 38 days — a 3% lower offer ($19k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $19k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $139 of loan paydown is wiped out by about $603 of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#367 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools F, crime F, commute F.
• Knoxville CUSD 202 (town): math 17% / reading 20% proficiency, ranked #443 of 620 in IL (top 72%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 191 active listings in the ZIP.
• Knox County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.
• Cap rate 48.6% vs local median 6.4% in Galesburg — 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

• It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• 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?
• 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?
• 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?
• 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.