1108 Johnson St

Carlinville, IL 62626

$90,000C+

4 bd · 2.0 ba · 1,508 sqft · Built 1970 · SingleFamily · Pending · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,000/mo
• Mortgage (P&I): −$472
• Tax + insurance: −$163
• HOA: −$0
• Vac / Maint / Mgmt: −$210
• Net cashflow: $155/mo
• Annual: $1,860/yr
• Cap rate: 8.36%
• Cash-on-cash: 7.38%
• DSCR: 1.33
• 1% rule: 1.11%
• Cash to close: $25,200

Investor read

• This is a 4-bed/2.0-bath single-family listed at $90k.
• At list price, monthly cash flow is $155 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#477 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B+; Watch: employment D, crime F, amenities F.
• Carlinville CUSD 1 (town): math 33% / reading 40% proficiency, ranked #168 of 620 in IL (top 27%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Carlinville High School (math 32% / reading 37%, grade F, #126 of 693 statewide, top 21%, 394 students, 0% FRL) — zoned schools average 0% FRL vs 38% district-wide (38 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 38 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 70 units permitted in Macoupin County in 2024 (0 in 5+ unit buildings).
• Macoupin County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 12y 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 $35k; list at $90k implies a 157% gain — meaningful room to come down on a strong offer.

Questions for listing agent

• Built in 1970 — 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?
• Crime grade is F 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.