605 E Calhoun St

Woodstock, IL 60098

$242,000C-

4 bd · 1.0 ba · 1,872 sqft · Built 1900 · SingleFamily · Coming Soon · 11 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,232/mo
• Mortgage (P&I): −$1,269
• Tax + insurance: −$403
• HOA: −$0
• Vac / Maint / Mgmt: −$469
• Net cashflow: $91/mo
• Annual: $1,095/yr
• Cap rate: 6.75%
• Cash-on-cash: 1.62%
• DSCR: 1.07
• 1% rule: 0.92%
• Cash to close: $67,760

Investor read

• This is a 4-bed/1.0-bath single-family listed at $242k.
• At list price, monthly cash flow is $91 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $223k (7.8% below list).
• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $223k (7.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 82/100 on livability (#66 in IL, #1,114 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+.
• Woodstock CUSD 200 (town): math 24% / reading 38% proficiency, ranked #220 of 620 in IL (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Verda Dierzen Early Learning Ctr (701 students, 0% FRL); Creekside Middle School (math 29% / reading 47%, grade F, #159 of 665 statewide, top 25%, 728 students, 0% FRL); Woodstock High School (math 28% / reading 40%, grade F, #147 of 693 statewide, top 22%, 1,021 students, 0% FRL) — zoned schools average 0% FRL vs 36% district-wide (36 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 137 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 1,595 units permitted in McHenry County in 2024 (485 in 5+ unit buildings).
• McHenry County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Cap rate 6.7% vs local median 2.6% in Woodstock — 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

• Built in 1900 — 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 D-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.