313 Central Ave

St. David, IL 61563

$45,900B+

4 bd · 2.0 ba · 1,920 sqft · Built 1900 · Other · Active · 24 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,268/mo
• Mortgage (P&I): −$241
• Tax + insurance: −$99
• HOA: −$0
• Vac / Maint / Mgmt: −$266
• Net cashflow: $662/mo
• Annual: $7,946/yr
• Cap rate: 23.60%
• Cash-on-cash: 61.83%
• DSCR: 3.75
• 1% rule: 2.76%
• Cash to close: $12,852

Investor read

• This is a 4-bed/2.0-bath other listed at $46k.
• At list price, monthly cash flow is $662 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $46k).
• It's been on market 24 days — a 2% lower offer ($45k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $45k (1.5% below list) — sets the bar for market timing.
• In year one you build about $5k of equity ($317 loan paydown + $4k appreciation (9.6% local appreciation)).
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Lewistown CUSD 97 (rural): math 11% / reading 14% proficiency, ranked #546 of 620 in IL (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Lewistown Jr/Sr High School (math 12% / reading 17%, grade F, #479 of 693 statewide, top 71%, 276 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.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 2 active listings in the ZIP; 14 units permitted in Fulton County in 2024 (0 in 5+ unit buildings).
• Fulton County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (9.6% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.