328 E High St

Creve Coeur, IL 61610

$113,328D+

1 bd · 1.0 ba · 1,080 sqft · Built 1957 · SingleFamily · Pending · 12 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,350/mo
• Mortgage (P&I): −$594
• Tax + insurance: −$243
• HOA: −$0
• Vac / Maint / Mgmt: −$284
• Net cashflow: $229/mo
• Annual: $2,751/yr
• Cap rate: 8.72%
• Cash-on-cash: 8.67%
• DSCR: 1.39
• 1% rule: 1.19%
• Cash to close: $31,732

Investor read

• This is a 1-bed/1.0-bath single-family listed at $113k.
• At list price, monthly cash flow is $229 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $113k).
• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $784 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 63/100 on livability (#755 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-; Watch: employment D, amenities F, commute F.
• East Peoria Chsd 309 (suburban): math 17% / reading 15% proficiency, ranked #482 of 620 in IL (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: East Peoria High School (math 17% / reading 15%, grade F, #457 of 693 statewide, top 66%, 947 students, 0% FRL).
• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 23 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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.
• 6 sale attempts since 4y 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 $88k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Questions for listing agent

• Built in 1957 — 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.