310 N Minier Ave

Minier, IL 61759

$84,900C+

3 bd · 2.0 ba · 2,264 sqft · Built 1860 · SingleFamily · Active · 16 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,161/mo
• Mortgage (P&I): −$445
• Tax + insurance: −$233
• HOA: −$0
• Vac / Maint / Mgmt: −$244
• Net cashflow: $239/mo
• Annual: $2,865/yr
• Cap rate: 9.67%
• Cash-on-cash: 12.05%
• DSCR: 1.54
• 1% rule: 1.37%
• Cash to close: $23,772

Investor read

• This is a 3-bed/2.0-bath single-family listed at $85k.
• At list price, monthly cash flow is $239 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• It's been on market 16 days — a 2% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $84k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $587 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#663 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: amenities F, commute F, health & safety F.
• Olympia CUSD 16 (rural): math 29% / reading 30% proficiency, ranked #237 of 620 in IL (top 38%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Olympia South Elem Sch (math 22% / reading 37%, grade F, #658 of 2,056 statewide, top 35%, 327 students, 0% FRL); Olympia High School (math 32% / reading 32%, grade F, #157 of 693 statewide, top 25%, 503 students, 0% FRL) — zoned schools average 0% FRL vs 30% district-wide (30 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: property tax is 2.8% of price; built in 1860 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 8 active listings in the ZIP; 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~10 years — after that, you're playing with house money.

Questions for listing agent

• Built in 1860 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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.