704 E Elm St

Taylorville, IL 62568

$79,900D+

2 bd · 3.0 ba · 972 sqft · Built 1950 · SingleFamily · Active · 25 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $820/mo
• Mortgage (P&I): −$419
• Tax + insurance: −$192
• HOA: −$0
• Vac / Maint / Mgmt: −$172
• Net cashflow: $37/mo
• Annual: $446/yr
• Cap rate: 6.85%
• Cash-on-cash: 1.99%
• DSCR: 1.09
• 1% rule: 1.03%
• Cash to close: $22,372

Investor read

• This is a 2-bed/3.0-bath single-family listed at $80k.
• At list price, monthly cash flow is $37 ($446/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($820 rent vs $80k).
• It's been on market 25 days — a 2% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $79k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $552 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#478 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: employment D, amenities F, commute F.
• Taylorville CUSD 3 (town): math 14% / reading 31% proficiency, ranked #383 of 620 in IL (top 62%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: North Elem School (537 students, 0% FRL); Taylorville Jr High School (math 14% / reading 42%, grade F, #284 of 665 statewide, top 44%, 683 students, 0% FRL); Taylorville Sr High School (math 12% / reading 17%, grade F, #479 of 693 statewide, top 71%, 781 students, 0% FRL) — zoned schools average 0% FRL vs 46% district-wide (46 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 88 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 26 units permitted in Christian County in 2024 (0 in 5+ unit buildings).
• Christian County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 17y 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.
• Cap rate 6.9% vs local median 4.1% in Taylorville — 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 1950 — 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.