1913 English Oak

Washington, IL 61571

$269,900C-

3 bd · 2.5 ba · 1,620 sqft · Built 2002 · SingleFamily · Pending · 2 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,750/mo
• Mortgage (P&I): −$1,415
• Tax + insurance: −$518
• HOA: −$0
• Vac / Maint / Mgmt: −$578
• Net cashflow: $239/mo
• Annual: $2,872/yr
• Cap rate: 7.36%
• Cash-on-cash: 3.80%
• DSCR: 1.17
• 1% rule: 1.02%
• Cash to close: $75,572

Investor read

• This is a 3-bed/2.5-bath single-family listed at $270k.
• At list price, monthly cash flow is $239 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $270k).
• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#272 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety F.
• Washington Chsd 308 (suburban): math 42% / reading 42% proficiency, ranked #112 of 620 in IL (top 18%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Central Primary Sch (math 67% / reading 57%, grade B, #53 of 2,056 statewide, top 3%, 546 students, 0% FRL); Central Intermediate Sch (math 50% / reading 66%, grade B, #28 of 665 statewide, top 4%, 735 students, 0% FRL); Washington Comm High School (math 42% / reading 42%, grade F, #76 of 693 statewide, top 12%, 1,484 students, 0% FRL).
• Zoned-school proficiency averages 54% at this address vs 42% district-wide (+12 pts) — the actual schools serving this property are materially stronger than the Washington Chsd 308 average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 132 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 77 units permitted in Tazewell County in 2024 (0 in 5+ unit buildings).
• Tazewell County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 12y 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 $192k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Cap rate 7.4% vs local median 3.3% in Washington — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.