140 S 4th St

Albion, IL 62806

$85,500B

3 bd · 1.5 ba · 1,400 sqft · Built 1960 · Other · Active · 14 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,107/mo
• Mortgage (P&I): −$448
• Tax + insurance: −$151
• HOA: −$0
• Vac / Maint / Mgmt: −$232
• Net cashflow: $275/mo
• Annual: $3,304/yr
• Cap rate: 10.16%
• Cash-on-cash: 13.80%
• DSCR: 1.61
• 1% rule: 1.29%
• Cash to close: $23,940

Investor read

• This is a 3-bed/1.5-bath other listed at $86k.
• At list price, monthly cash flow is $275 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $86k).
• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $3k of equity ($591 loan paydown + $2k appreciation (2.9% local appreciation)).
• Location reads 67/100 on livability (#534 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Edwards County CUSD 1 (rural): math 30% / reading 45% proficiency, ranked #171 of 620 in IL (top 28%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Albion Grade School (math 31% / reading 53%, grade F, #336 of 2,056 statewide, top 18%, 409 students, 0% FRL); Edwards County High School (math 27% / reading 32%, grade F, #187 of 693 statewide, top 30%, 262 students, 0% FRL) — zoned schools average 0% FRL vs 33% district-wide (33 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 3 active listings in the ZIP.
• Edwards County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $35k; list at $86k implies a 144% gain — meaningful room to come down on a strong offer.
• At projected returns (2.9% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~4 years — after that, you're playing with house money.

Questions for listing agent

• Built in 1960 — 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?
• 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.