225 Parker St

Bulpitt, IL 62863

$68,500A-

2 bd · 2.0 ba · 896 sqft · Built 2006 · SingleFamily · Active · 93 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $851/mo
• Mortgage (P&I): −$359
• Tax + insurance: −$62
• HOA: −$0
• Vac / Maint / Mgmt: −$179
• Net cashflow: $251/mo
• Annual: $3,011/yr
• Cap rate: 10.69%
• Cash-on-cash: 15.70%
• DSCR: 1.70
• 1% rule: 1.24%
• Cash to close: $19,180

Investor read

• This is a 2-bed/2.0-bath single-family listed at $68k.
• At list price, monthly cash flow is $251 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($851 rent vs $68k).
• It's been on market 93 days — a 9% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $62k (9.0% below list) — sets the bar for market timing.
• In year one you build about $7k of equity ($474 loan paydown + $7k appreciation (10.0% local appreciation)).
• Location reads 59/100 on livability (#1,060 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: employment C-, schools F, crime D-.
• South Fork SD 14 (rural): math 10% / reading 25% proficiency, ranked #744 of 919 in IL (top 81%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 18 active listings in the ZIP; 26 units permitted in Christian County in 2024 (0 in 5+ unit buildings).
• Christian County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 16y ago; this cycle's ask is 72% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $34k; list at $68k implies a 99% gain — meaningful room to come down on a strong offer.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 93 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• 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?
• 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.