202 N Victor St

Christopher, IL 62822

$69,000C-

3 bd · 1.0 ba · 1,400 sqft · Built 1945 · Other · Pending · 16 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $782/mo
• Mortgage (P&I): −$362
• Tax + insurance: −$182
• HOA: −$0
• Vac / Maint / Mgmt: −$164
• Net cashflow: $74/mo
• Annual: $892/yr
• Cap rate: 7.59%
• Cash-on-cash: 4.62%
• DSCR: 1.21
• 1% rule: 1.13%
• Cash to close: $19,320

Investor read

• This is a 3-bed/1.0-bath other listed at $69k.
• At list price, monthly cash flow is $74 ($892/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($782 rent vs $69k).
• It's been on market 16 days — a 2% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $68k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $477 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 58/100 on livability (#1,100 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Christopher USD 99 (town): math 9% / reading 21% proficiency, ranked #520 of 620 in IL (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Christopher Elem School (math 11% / reading 25%, grade F, #1,126 of 2,056 statewide, top 55%, 486 students, 0% FRL); Christopher High (math 5% / reading 5%, grade F, #614 of 693 statewide, top 95%, 214 students, 0% FRL) — zoned schools average 0% FRL vs 61% district-wide (61 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: property tax is 2.7% of price; built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 17 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 17 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).
• Franklin County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts; this cycle's ask has dropped $10k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1945 — 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?
• 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.