130 Washington St

Woodstock, IL 60098

$999,000C

8 bd · 9.0 ba · — sqft · Built 1900 · MultiFamily · Active · 345 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $12,180/mo
• Mortgage (P&I): −$5,239
• Tax + insurance: −$1,665
• HOA: −$0
• Vac / Maint / Mgmt: −$2,558
• Net cashflow: $2,718/mo
• Annual: $32,620/yr
• Cap rate: 9.56%
• Cash-on-cash: 11.66%
• DSCR: 1.52
• 1% rule: 1.22%
• Cash to close: $279,720

Investor read

• This is a 8-bed/9.0-bath multifamily listed at $999k. Condition is rated good.
• At list price, monthly cash flow is $3k ($33k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($12k rent vs $999k).
• It's been on market 345 days — a 12% lower offer ($879k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $879k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $7k of loan paydown is wiped out by about $30k of value loss. Plan a longer hold.
• Location reads 82/100 on livability (#66 in IL, #1,114 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D-.
• Woodstock CUSD 200 (town): math 24% / reading 38% proficiency, ranked #220 of 620 in IL (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 141 active listings in the ZIP; solid renter incomes; 1,595 units permitted in McHenry County in 2024 (485 in 5+ unit buildings).
• McHenry County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $100k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $675k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $280k cash investment doubles in ~10 years — after that, you're playing with house money.
• Cap rate 9.6% vs local median 2.6% in Woodstock — 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.
• At $12,180/mo this rent would consume 161% of the median local household income ($91k/yr) (locally 759% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 345 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.