309 W Center St

Bellflower, IL 61724

$99,000B+

3 bd · 1.0 ba · 2,079 sqft · Built 1899 · SingleFamily · Pending · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,275/mo
• Mortgage (P&I): −$519
• Tax + insurance: −$169
• HOA: −$0
• Vac / Maint / Mgmt: −$268
• Net cashflow: $318/mo
• Annual: $3,821/yr
• Cap rate: 10.15%
• Cash-on-cash: 13.79%
• DSCR: 1.61
• 1% rule: 1.29%
• Cash to close: $27,720

Investor read

• This is a 3-bed/1.0-bath single-family listed at $99k.
• At list price, monthly cash flow is $318 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $647 of equity ($684 loan paydown + $-37 appreciation (-0.0% local appreciation)).
• Location reads 61/100 on livability (#915 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, crime D+, amenities F.
• Blue Ridge CUSD 18 (rural): math 20% / reading 24% proficiency, ranked #370 of 620 in IL (top 60%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Blue Ridge Intermediate-Jr Hs (math 12% / reading 22%, grade F, #460 of 665 statewide, top 72%, 210 students, 0% FRL); Blue Ridge High School (math 24% / reading 24%, grade F, #256 of 693 statewide, top 44%, 188 students, 0% FRL) — zoned schools average 0% FRL vs 39% district-wide (39 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1899 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 1 active listings in the ZIP; 247 units permitted in McLean County in 2024 (54 in 5+ unit buildings).
• At projected returns (-0.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~6 years — after that, you're playing with house money.

Questions for listing agent

• Built in 1899 — 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?
• 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.