128 SE Brandywine Dr

Candlewick Lake, IL 61065

$237,500A-

3 bd · 1.0 ba · 2,295 sqft · Built 1995 · SingleFamily · Pending · 2 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,527/mo
• Mortgage (P&I): −$1,245
• Tax + insurance: −$448
• HOA: −$144
• Vac / Maint / Mgmt: −$951
• Net cashflow: $1,739/mo
• Annual: $20,867/yr
• Cap rate: 15.08%
• Cash-on-cash: 31.38%
• DSCR: 2.40
• 1% rule: 1.91%
• Cash to close: $66,500

Investor read

• This is a 3-bed/1.0-bath single-family listed at $238k.
• At list price, monthly cash flow is $2k ($21k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $238k).
• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $9k of equity ($2k loan paydown + $8k appreciation (3.2% local appreciation)).
• Location reads 61/100 on livability (#891 in IL) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• North Boone CUSD 200 (rural): math 14% / reading 21% proficiency, ranked #440 of 620 in IL (top 71%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Manchester Elem School (math 27% / reading 22%, grade F, #850 of 2,056 statewide, top 45%, 143 students, 0% FRL); North Boone Middle School (math 15% / reading 24%, grade F, #425 of 665 statewide, top 65%, 242 students, 0% FRL); North Boone High School (math 12% / reading 22%, grade F, #430 of 693 statewide, top 66%, 517 students, 0% FRL) — zoned schools average 0% FRL vs 35% district-wide (35 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 39 active listings in the ZIP; 56 units permitted in Boone County in 2024 (0 in 5+ unit buildings).
• Boone County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 8y 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 $189k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (3.2% appreciation + 3.0% rent growth), your $66k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.