7806 Wilmot Rd

Erie, IL 61250

$69,900B-

3 bd · 2.0 ba · 1,664 sqft · Built 1983 · SingleFamily · Pending · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,200/mo
• Mortgage (P&I): −$367
• Tax + insurance: −$116
• HOA: −$0
• Vac / Maint / Mgmt: −$252
• Net cashflow: $465/mo
• Annual: $5,577/yr
• Cap rate: 14.27%
• Cash-on-cash: 28.49%
• DSCR: 2.27
• 1% rule: 1.72%
• Cash to close: $19,572

Investor read

• This is a 3-bed/2.0-bath single-family listed at $70k. Condition is rated poor.
• At list price, monthly cash flow is $465 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $483 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 72/100 on livability (#300 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety F.
• Erie CUSD 1 (rural): math 35% / reading 38% proficiency, ranked #167 of 620 in IL (top 27%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Erie Elem School (math 37% / reading 27%, grade F, #586 of 2,056 statewide, top 31%, 246 students, 0% FRL); Erie Middle School (math 37% / reading 47%, grade D-, #116 of 665 statewide, top 19%, 176 students, 0% FRL); Erie High School (math 34% / reading 34%, grade F, #126 of 693 statewide, top 21%, 184 students, 0% FRL) — zoned schools average 0% FRL vs 24% district-wide (24 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 20 active listings in the ZIP; 19 units permitted in Whiteside County in 2024 (0 in 5+ unit buildings).
• Whiteside County population projected at -21% 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 $20k cash investment doubles in ~5 years — after that, you're playing with house money.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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)

• Major: roof — Significant damage and potential leaks.
• Major: exterior siding — Peeling and in need of repainting.
• Major: flooring — Worn and in need of replacement.
• Major: interior walls/paint — Peeling and potential water damage.
• Major: HVAC system — Old and in need of replacement.
• Major: landscaping — Overgrown and in need of trimming and maintenance.