203 E 4th St

De Pue, IL 61322

$92,000C

3 bd · 1.0 ba · 954 sqft · Built 1906 · SingleFamily · Active · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,016/mo
• Mortgage (P&I): −$482
• Tax + insurance: −$197
• HOA: −$0
• Vac / Maint / Mgmt: −$213
• Net cashflow: $123/mo
• Annual: $1,476/yr
• Cap rate: 7.90%
• Cash-on-cash: 5.73%
• DSCR: 1.25
• 1% rule: 1.10%
• Cash to close: $25,760

Investor read

• This is a 3-bed/1.0-bath single-family listed at $92k.
• At list price, monthly cash flow is $123 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $92k).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $3k of equity ($636 loan paydown + $3k appreciation (3.0% local appreciation)).
• Location reads 63/100 on livability (#760 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, housing A-; Watch: health & safety C-, amenities F, commute F.
• Depue USD 103 (rural): math 6% / reading 25% proficiency, ranked #782 of 919 in IL (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Depue Elem School (math 2% / reading 17%, grade F, #1,517 of 2,056 statewide, top 78%, 228 students, 0% FRL); Depue High School (math 10% / reading 10%, grade F, #528 of 693 statewide, top 82%, 101 students, 0% FRL) — zoned schools average 0% FRL vs 61% district-wide (61 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1906 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 2 active listings in the ZIP; 17 units permitted in Bureau County in 2024 (0 in 5+ unit buildings).
• Bureau County population projected at -25% 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.
• Current owner paid $44k; list at $92k implies a 107% gain — meaningful room to come down on a strong offer.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $26k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 10, 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

• Built in 1906 — 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?
• 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.