1024 Eastview Dr

Rantoul, IL 61866

$129,900D-

3 bd · 1.0 ba · 875 sqft · Built 1952 · SingleFamily · Pending · 149 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $909/mo
• Mortgage (P&I): −$681
• Tax + insurance: −$126
• HOA: −$0
• Vac / Maint / Mgmt: −$191
• Net cashflow: $-90/mo
• Annual: $-1,079/yr
• Cap rate: 5.46%
• Cash-on-cash: -2.97%
• DSCR: 0.87
• 1% rule: 0.70%
• Cash to close: $36,372

Investor read

• This is a 3-bed/1.0-bath single-family listed at $130k.
• At list price, monthly cash flow is $-90 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $114k (12.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $91k (30.1% below list).
• It's been on market 149 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $91k (30.1% below list) — sets the bar for 1% rule.
• In year one you build about $14k of equity ($898 loan paydown + $13k appreciation (10.0% local appreciation)).
• Location reads 67/100 on livability (#533 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B; Watch: employment D, crime F, amenities F.
• Rantoul Township Hsd 193 (town): math 10% / reading 10% proficiency, ranked #824 of 919 in IL (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Northview Elem School (math 2% / reading 12%, grade F, #1,673 of 2,056 statewide, top 84%, 251 students, 0% FRL); J W Eater Jr High School (math 2% / reading 6%, grade F, #651 of 665 statewide, top 98%, 516 students, 0% FRL); Rantoul Twp High School (math 8% / reading 12%, grade F, #567 of 693 statewide, top 83%, 848 students, 0% FRL).
• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+6.6%/yr); 53 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 573 units permitted in Champaign County in 2024 (359 in 5+ unit buildings).
• Champaign County population projected at +15% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 3 sale attempts since 27y 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 $26k; list at $130k implies a 400% gain — meaningful room to come down on a strong offer.
• By year 3, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 5.5% vs local median 4.3% in Rantoul — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 149 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
• Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 F 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?
• 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?