409 Maple St

Seaton, IL 61476

$50,000B-

3 bd · 1.0 ba · 1,374 sqft · Built 1888 · SingleFamily · Active · 26 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,170/mo
• Mortgage (P&I): −$262
• Tax + insurance: −$141
• HOA: −$0
• Vac / Maint / Mgmt: −$246
• Net cashflow: $521/mo
• Annual: $6,252/yr
• Cap rate: 18.80%
• Cash-on-cash: 44.66%
• DSCR: 2.99
• 1% rule: 2.34%
• Cash to close: $14,000

Investor read

• This is a 3-bed/1.0-bath single-family listed at $50k.
• At list price, monthly cash flow is $521 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• It's been on market 26 days — a 2% lower offer ($49k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $49k (1.5% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($346 loan paydown + $2k appreciation (3.0% local appreciation)).
• Location reads 62/100 on livability (#848 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: employment D+, health & safety D+, crime D.
• Mercer County School District 404 (town): math 14% / reading 24% proficiency, ranked #439 of 620 in IL (top 71%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Apollo Elem School (math 17% / reading 17%, grade F, #1,141 of 2,056 statewide, top 59%, 335 students, 0% FRL); Mercer County Jr High School (math 17% / reading 29%, grade F, #377 of 665 statewide, top 58%, 299 students, 0% FRL); Mercer County High School (math 17% / reading 22%, grade F, #397 of 693 statewide, top 61%, 404 students, 0% FRL) — zoned schools average 0% FRL vs 37% district-wide (37 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: property tax is 2.9% of price; built in 1888 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 3 active listings in the ZIP; 15 units permitted in Mercer County in 2024 (0 in 5+ unit buildings).
• Mercer County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 7 sale attempts since 26y ago; this cycle's ask is 11% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• Built in 1888 — 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?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.