1613 South St

Prairie Grove, IL 60014

$200,000C+

2 bd · 2.0 ba · 1,924 sqft · Built 1989 · SingleFamily · Pending · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,048/mo
• Mortgage (P&I): −$1,049
• Tax + insurance: −$296
• HOA: −$0
• Vac / Maint / Mgmt: −$430
• Net cashflow: $273/mo
• Annual: $3,281/yr
• Cap rate: 7.93%
• Cash-on-cash: 5.86%
• DSCR: 1.26
• 1% rule: 1.02%
• Cash to close: $56,000

Investor read

• This is a 2-bed/2.0-bath single-family listed at $200k.
• At list price, monthly cash flow is $273 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 58/100 on livability (#1,107 in IL) — a working-class tenant base; expect higher turnover. Strengths: employment A+, housing A+, crime A; Watch: amenities F, commute F, cost of living F.
• Chsd 155 (suburban): math 41% / reading 42% proficiency, ranked #98 of 620 in IL (top 16%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Prairie Grove Elem School (math 27% / reading 37%, grade F, #586 of 2,056 statewide, top 31%, 492 students, 0% FRL); Prairie Grove Junior High School (math 22% / reading 42%, grade F, #226 of 665 statewide, top 34%, 321 students, 0% FRL); Prairie Ridge High School (math 52% / reading 51%, grade D+, #38 of 693 statewide, top 6%, 1,140 students, 0% FRL).
• Market conditions: Rents rising (+3.9%/yr); 146 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 1,595 units permitted in McHenry County in 2024 (485 in 5+ unit buildings).
• McHenry County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.