107 & 109 S 4th St

Oquawka, IL 61469

$30,000B

3 bd · 1.0 ba · 1,167 sqft · Built 1850 · SingleFamily · Under Contract · 42 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,072/mo
• Mortgage (P&I): −$157
• Tax + insurance: −$22
• HOA: −$0
• Vac / Maint / Mgmt: −$225
• Net cashflow: $667/mo
• Annual: $8,003/yr
• Cap rate: 32.97%
• Cash-on-cash: 95.27%
• DSCR: 5.24
• 1% rule: 3.57%
• Cash to close: $8,400

Investor read

• This is a 3-bed/1.0-bath single-family listed at $30k.
• At list price, monthly cash flow is $667 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• It's been on market 42 days — a 3% lower offer ($29k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $29k (3.0% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($207 loan paydown + $900 appreciation (3.0% local appreciation)).
• Location reads 64/100 on livability (#686 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: health & safety C-, amenities F, commute F.
• West Central CUSD 235 (rural): math 8% / reading 10% proficiency, ranked #581 of 620 in IL (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: West Central Elementary School (math 12% / reading 8%, grade F, #1,517 of 2,056 statewide, top 78%, 308 students, 0% FRL); West Central Middle School (math 2% / reading 8%, grade F, #636 of 665 statewide, top 98%, 184 students, 0% FRL); West Central High School (math 5% / reading 15%, grade F, #528 of 693 statewide, top 82%, 199 students, 0% FRL) — zoned schools average 0% FRL vs 48% district-wide (48 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1850 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 8 active listings in the ZIP; 5 units permitted in Henderson County in 2024 (0 in 5+ unit buildings).
• Henderson County population projected at -31% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Questions for listing agent

• It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1850 — 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?
• 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.