958 Kinmundy Rd

Louisville, IL 72858

$25,000D+

4 bd · 1.0 ba · 1,188 sqft · Built 1952 · SingleFamily · Active · 66 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,128/mo
• Mortgage (P&I): −$131
• Tax + insurance: −$75
• HOA: −$0
• Vac / Maint / Mgmt: −$237
• Net cashflow: $685/mo
• Annual: $8,219/yr
• Cap rate: 39.17%
• Cash-on-cash: 117.41%
• DSCR: 6.22
• 1% rule: 4.51%
• Cash to close: $7,000

Investor read

• This is a 4-bed/1.0-bath single-family listed at $25k.
• At list price, monthly cash flow is $685 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).
• It's been on market 66 days — a 6% lower offer ($24k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $24k (6.0% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($173 loan paydown + $1k appreciation (4.8% local appreciation)).
• Location reads 60/100 on livability (#958 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A; Watch: amenities F, commute F, employment F.
• North Clay CUSD 25 (rural): math 12% / reading 13% proficiency, ranked #548 of 620 in IL (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: North Clay Elem/Jr High Sch (math 10% / reading 12%, grade F, #1,460 of 2,056 statewide, top 72%, 392 students, 0% FRL); North Clay Community High School (math 24% / reading 15%, grade F, #379 of 693 statewide, top 57%, 178 students, 0% FRL) — zoned schools average 0% FRL vs 40% district-wide (40 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: property tax is 3.1% of price; built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 1 active listings in the ZIP; 2 units permitted in Clay County in 2024 (0 in 5+ unit buildings).
• Clay County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $14k; list at $25k implies a 79% gain — meaningful room to come down on a strong offer.
• At projected returns (4.8% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Questions for listing agent

• It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.