401 Maple St

Zeigler, IL 62999

$23,750D+

2 bd · 1.0 ba · 1,188 sqft · Built 1945 · SingleFamily · Pending · 45 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,033/mo
• Mortgage (P&I): −$125
• Tax + insurance: −$50
• HOA: −$0
• Vac / Maint / Mgmt: −$217
• Net cashflow: $641/mo
• Annual: $7,696/yr
• Cap rate: 38.70%
• Cash-on-cash: 115.74%
• DSCR: 6.15
• 1% rule: 4.35%
• Cash to close: $6,650

Investor read

• This is a 2-bed/1.0-bath single-family listed at $24k.
• At list price, monthly cash flow is $641 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $24k).
• It's been on market 45 days — a 3% lower offer ($23k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $23k (3.0% below list) — sets the bar for market timing.
• In year one you build about $232 of equity ($164 loan paydown + $68 appreciation (0.3% local appreciation)).
• Location reads 60/100 on livability (#1,012 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, housing A-; Watch: amenities F, commute F, employment F.
• Zeigler-Royalton CUSD 188 (rural): math 10% / reading 20% proficiency, ranked #524 of 620 in IL (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Zeigler-Royalton Elem School (math 8% / reading 22%, grade F, #1,259 of 2,056 statewide, top 62%, 253 students, 0% FRL); Zeigler-Royalton Jr High School (math 12% / reading 17%, grade F, #517 of 665 statewide, top 79%, 114 students, 0% FRL); Zeigler-Royalton High School (math 15% / reading 24%, grade F, #379 of 693 statewide, top 57%, 130 students, 0% FRL) — zoned schools average 0% FRL vs 64% district-wide (64 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 6 active listings in the ZIP; 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.
• At projected returns (0.3% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1945 — 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?
• 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?
• 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.