11 Dequimpal St

Belgium, IL 61883

$45,900B+

2 bd · 1.0 ba · 1,100 sqft · Built — · SingleFamily · Pending · 30 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $931/mo
• Mortgage (P&I): −$241
• Tax + insurance: −$45
• HOA: −$0
• Vac / Maint / Mgmt: −$196
• Net cashflow: $450/mo
• Annual: $5,401/yr
• Cap rate: 18.06%
• Cash-on-cash: 42.02%
• DSCR: 2.87
• 1% rule: 2.03%
• Cash to close: $12,852

Investor read

• This is a 2-bed/1.0-bath single-family listed at $46k.
• At list price, monthly cash flow is $450 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($931 rent vs $46k).
• It's been on market 30 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 $779 of equity ($317 loan paydown + $462 appreciation (1.0% local appreciation)).
• Location reads 57/100 on livability (#1,162 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime D-, amenities F, commute F.
• Westville CUSD 2 (suburban): math 8% / reading 9% proficiency, ranked #590 of 620 in IL (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Judith Giacoma Elem School (math 8% / reading 9%, grade F, #1,617 of 2,056 statewide, top 79%, 671 students, 0% FRL); Westville Jr High School (math 8% / reading 8%, grade F, #612 of 665 statewide, top 93%, 177 students, 0% FRL); Westville High School (math 8% / reading 8%, grade F, #589 of 693 statewide, top 86%, 350 students, 0% FRL) — zoned schools average 0% FRL vs 54% district-wide (54 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 15 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 8 units permitted in Vermilion County in 2024 (0 in 5+ unit buildings).
• Vermilion County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 12y ago 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.
• At projected returns (1.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~3 years — after that, you're playing with house money.

Questions for listing agent

• 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.
• 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.