325 State St

Westfield, IL 62474

$42,500A-

1 bd · 1.0 ba · 1,686 sqft · Built 1910 · SingleFamily · Pending · 18 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $976/mo
• Mortgage (P&I): −$223
• Tax + insurance: −$71
• HOA: −$0
• Vac / Maint / Mgmt: −$205
• Net cashflow: $478/mo
• Annual: $5,733/yr
• Cap rate: 19.78%
• Cash-on-cash: 48.17%
• DSCR: 3.14
• 1% rule: 2.30%
• Cash to close: $11,900

Investor read

• This is a 1-bed/1.0-bath single-family listed at $42k.
• At list price, monthly cash flow is $478 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($976 rent vs $42k).
• It's been on market 18 days — a 2% lower offer ($42k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $42k (1.5% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($294 loan paydown + $993 appreciation (2.3% local appreciation)).
• Location reads 58/100 on livability (#1,087 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: schools F, crime D-, amenities F.
• Casey-Westfield CUSD 4C (town): math 19% / reading 32% proficiency, ranked #322 of 620 in IL (top 52%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 4 active listings in the ZIP; 1 units permitted in Clark County in 2024 (0 in 5+ unit buildings).
• Clark County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $35k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (2.3% appreciation + 3.0% rent growth), your $12k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• Built in 1910 — 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?
• 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.