22574 Lake Westside Ln

Jerseyville, IL 62052

$40,000B+

3 bd · 2.0 ba · 1,120 sqft · Built 1998 · Manufactured · Active · 9 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $950/mo
• Mortgage (P&I): −$210
• Tax + insurance: −$67
• HOA: −$0
• Vac / Maint / Mgmt: −$200
• Net cashflow: $474/mo
• Annual: $5,689/yr
• Cap rate: 20.52%
• Cash-on-cash: 50.79%
• DSCR: 3.26
• 1% rule: 2.38%
• Cash to close: $11,200

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $40k. Condition is rated average.
• At list price, monthly cash flow is $474 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($950 rent vs $40k).
• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $4k of equity ($277 loan paydown + $4k appreciation (10.0% local appreciation)).
• Location reads 72/100 on livability (#327 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: health & safety C-, amenities D+, commute F.
• Jersey CUSD 100 (town): math 25% / reading 32% proficiency, ranked #260 of 620 in IL (top 42%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 90 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 101 units permitted in Jersey County in 2024 (68 in 5+ unit buildings).
• Jersey County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 20.5% vs local median 4.5% in Jerseyville — 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.
• 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.

Repairs flagged (vision-AI assessment)

• Moderate: kitchen cabinets — dated and in need of updating
• Moderate: bathroom fixtures — dated and in need of updating
• Moderate: kitchen appliances — dated and in need of updating