607 S Broadway

Waltonville, IL 62894

$74,500A-

3 bd · 1.0 ba · 1,480 sqft · Built 1920 · SingleFamily · Active · 146 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,120/mo
• Mortgage (P&I): −$391
• Tax + insurance: −$124
• HOA: −$0
• Vac / Maint / Mgmt: −$235
• Net cashflow: $370/mo
• Annual: $4,442/yr
• Cap rate: 12.26%
• Cash-on-cash: 21.30%
• DSCR: 1.95
• 1% rule: 1.50%
• Cash to close: $20,860

Investor read

• This is a 3-bed/1.0-bath single-family listed at $74k.
• At list price, monthly cash flow is $370 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $74k).
• It's been on market 146 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($515 loan paydown + $2k appreciation (3.0% local appreciation)).
• Location reads 59/100 on livability (#1,072 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: employment D, schools F, crime D-.
• Waltonville CUSD 1 (rural): math 25% / reading 50% proficiency, ranked #370 of 919 in IL (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 4 active listings in the ZIP; 6 units permitted in Jefferson County in 2024 (0 in 5+ unit buildings).
• Jefferson County population projected at -14% 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 $21k cash investment doubles in ~3 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 146 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1920 — 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 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 D 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?
• 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.