1250 Fair City Rd

McClure, IL 62952

$69,000B-

3 bd · 1.0 ba · 940 sqft · Built 1945 · Other · Under Contract · 58 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $959/mo
• Mortgage (P&I): −$362
• Tax + insurance: −$155
• HOA: −$0
• Vac / Maint / Mgmt: −$201
• Net cashflow: $241/mo
• Annual: $2,887/yr
• Cap rate: 10.48%
• Cash-on-cash: 14.94%
• DSCR: 1.66
• 1% rule: 1.39%
• Cash to close: $19,320

Investor read

• This is a 3-bed/1.0-bath other listed at $69k. Condition is rated fair.
• At list price, monthly cash flow is $241 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($959 rent vs $69k).
• It's been on market 58 days — a 3% lower offer ($67k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $67k (3.0% below list) — sets the bar for market timing.
• In year one you build about $670 of equity ($477 loan paydown + $193 appreciation (0.3% local appreciation)).
• Location reads 54/100 on livability (#1,264 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: employment D, crime F, amenities F.
• Shawnee CUSD 84 (rural): math 15% / reading 15% proficiency, ranked #792 of 919 in IL (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Shawnee Elementary School (math 5% / reading 15%, grade F, #1,477 of 2,056 statewide, top 74%, 151 students, 0% FRL); Shawnee Jr High School (math 15% / reading 15%, grade F, #501 of 665 statewide, top 77%, 65 students, 0% FRL); Shawnee High School (math 10% / reading 10%, grade F, #528 of 693 statewide, top 82%, 69 students, 0% FRL) — zoned schools average 0% FRL vs 60% district-wide (60 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: 21 active listings in the ZIP; 10 units permitted in Union County in 2024 (0 in 5+ unit buildings).
• Union County population projected at -18% 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 $19k cash investment doubles in ~5 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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?
• Crime grade is F 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.

Repairs flagged (vision-AI assessment)

• Major: kitchen cabinets — severely dated and worn
• Major: kitchen appliances — outdated and worn
• Minor: bathroom shower curtain — basic and outdated
• Minor: exterior siding — some discoloration