306 E Green St

Augusta, IL 62311

$87,900B

3 bd · 2.5 ba · 2,100 sqft · Built 1940 · SingleFamily · Active · 62 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,162/mo
• Mortgage (P&I): −$461
• Tax + insurance: −$212
• HOA: −$0
• Vac / Maint / Mgmt: −$244
• Net cashflow: $245/mo
• Annual: $2,938/yr
• Cap rate: 9.64%
• Cash-on-cash: 11.94%
• DSCR: 1.53
• 1% rule: 1.32%
• Cash to close: $24,612

Investor read

• This is a 3-bed/2.5-bath single-family listed at $88k.
• At list price, monthly cash flow is $245 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $88k).
• It's been on market 62 days — a 6% lower offer ($83k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $83k (6.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($608 loan paydown + $3k appreciation (3.0% local appreciation)).
• Location reads 59/100 on livability (#1,037 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools D, crime D-, amenities F.
• Southeastern CUSD 337 (rural): math 20% / reading 26% proficiency, ranked #375 of 620 in IL (top 60%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 3 active listings in the ZIP.
• Hancock County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 5 sale attempts since 11y 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.
• Current owner paid $32k; list at $88k implies a 175% gain — meaningful room to come down on a strong offer.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1940 — 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 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?
• 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.