300 N Broadway

Kampsville, IL 62053

$39,000B

2 bd · 1.0 ba · 1,152 sqft · Built 1900 · Other · Pending · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $991/mo
• Mortgage (P&I): −$205
• Tax + insurance: −$65
• HOA: −$0
• Vac / Maint / Mgmt: −$208
• Net cashflow: $513/mo
• Annual: $6,158/yr
• Cap rate: 22.08%
• Cash-on-cash: 56.39%
• DSCR: 3.51
• 1% rule: 2.54%
• Cash to close: $10,920

Investor read

• This is a 2-bed/1.0-bath other listed at $39k.
• At list price, monthly cash flow is $513 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($991 rent vs $39k).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $921 of equity ($270 loan paydown + $651 appreciation (1.7% local appreciation)).
• Location reads 54/100 on livability (#1,273 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime D-, amenities F, commute F.
• Calhoun CUSD 40 (rural): math 24% / reading 26% proficiency, ranked #320 of 620 in IL (top 52%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Calhoun High School (math 30% / reading 30%, grade F, #179 of 693 statewide, top 27%, 160 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.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 6 active listings in the ZIP; 11 units permitted in Calhoun County in 2024 (0 in 5+ unit buildings).
• Calhoun County population projected at -34% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 9y 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 (1.7% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• Built in 1900 — 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.
• 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.