19726 N 700th St

Annapolis, IL 62413

$105,000D

2 bd · 1.0 ba · 936 sqft · Built 1973 · SingleFamily · Under Contract

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $876/mo
• Mortgage (P&I): −$551
• Tax + insurance: −$162
• HOA: −$0
• Vac / Maint / Mgmt: −$184
• Net cashflow: $-21/mo
• Annual: $-248/yr
• Cap rate: 6.06%
• Cash-on-cash: -0.84%
• DSCR: 0.96
• 1% rule: 0.83%
• Cash to close: $29,400

Investor read

• This is a 2-bed/1.0-bath single-family listed at $105k.
• At list price, monthly cash flow is $-21 ($-248/yr) — negative.
• To cash-flow at today's rent, offer at most $101k (3.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $88k (16.5% below list).
• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $88k (16.5% below list) — sets the bar for 1% rule.
• In year one you build about $4k of equity ($726 loan paydown + $3k appreciation (3.0% local appreciation)).
• Location reads 60/100 on livability (#1,017 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: crime D, amenities F, commute F.
• Hutsonville CUSD 1 (rural): math 15% / reading 45% proficiency, ranked #491 of 919 in IL (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hutsonville Elem And Jr High Sch (math 27% / reading 32%, grade F, #658 of 2,056 statewide, top 35%, 203 students, 0% FRL); Hutsonville High School (math 30% / reading 30%, grade F, #179 of 693 statewide, top 27%, 95 students, 0% FRL) — zoned schools average 0% FRL vs 41% district-wide (41 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 2 active listings in the ZIP; 14 units permitted in Crawford County in 2024 (0 in 5+ unit buildings).
• Crawford County population projected at -16% 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 $29k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.