906 Jefferson St

Bridgeport, IL 62417

$21,900D+

4 bd · 1.0 ba · 1,127 sqft · Built 1920 · SingleFamily · Active · 19 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,058/mo
• Mortgage (P&I): −$115
• Tax + insurance: −$76
• HOA: −$0
• Vac / Maint / Mgmt: −$222
• Net cashflow: $646/mo
• Annual: $7,748/yr
• Cap rate: 41.67%
• Cash-on-cash: 126.35%
• DSCR: 6.62
• 1% rule: 4.83%
• Cash to close: $6,132

Investor read

• This is a 4-bed/1.0-bath single-family listed at $22k.
• At list price, monthly cash flow is $646 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $22k).
• It's been on market 19 days — a 2% lower offer ($22k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $22k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-2.3%/yr); year-one equity from $151 of loan paydown is wiped out by about $498 of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#682 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, housing A-; Watch: amenities F, commute F, health & safety D-.
• Red Hill CUSD 10 (town): math 17% / reading 38% proficiency, ranked #294 of 620 in IL (top 47%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Bridgeport Grade School (math 37% / reading 47%, grade F, #336 of 2,056 statewide, top 18%, 363 students, 0% FRL); Red Hill Jr/Sr High School (math 12% / reading 27%, grade F, #397 of 693 statewide, top 61%, 366 students, 0% FRL) — zoned schools average 0% FRL vs 43% district-wide (43 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: property tax is 3.6% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 4 active listings in the ZIP; 64 units permitted in Lawrence County in 2024 (0 in 5+ unit buildings).
• Lawrence County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-2.3% appreciation + 3.0% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Questions for listing agent

• Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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?
• 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.