603 E Euclid Ave

Monmouth, IL 61462

$86,500C-

2 bd · 1.0 ba · 1,140 sqft · Built 1910 · SingleFamily · Active · 31 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $995/mo
• Mortgage (P&I): −$454
• Tax + insurance: −$177
• HOA: −$0
• Vac / Maint / Mgmt: −$209
• Net cashflow: $156/mo
• Annual: $1,868/yr
• Cap rate: 8.45%
• Cash-on-cash: 7.71%
• DSCR: 1.34
• 1% rule: 1.15%
• Cash to close: $24,220

Investor read

• This is a 2-bed/1.0-bath single-family listed at $86k.
• At list price, monthly cash flow is $156 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($995 rent vs $86k).
• It's been on market 31 days — a 3% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $84k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $598 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#372 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety D+, employment D, amenities F.
• Monmouth-Roseville CUSD 238 (town): math 10% / reading 21% proficiency, ranked #511 of 620 in IL (top 82%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Lincoln Early Childhood School (354 students, 0% FRL); Central Intermediate School (math 5% / reading 20%, grade F, #545 of 665 statewide, top 83%, 311 students, 0% FRL); Monmouth-Roseville High Sch (math 22% / reading 27%, grade F, #256 of 693 statewide, top 44%, 519 students, 0% FRL) — zoned schools average 0% FRL vs 61% district-wide (61 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 13 active listings in the ZIP; 43 units permitted in Warren County in 2024 (0 in 5+ unit buildings).
• Warren County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 4 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Questions for listing agent

• It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1910 — 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.
• 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.