707 N Delmar Ave

Hartford, IL 62048

$35,000B

1 bd · 1.0 ba · 780 sqft · Built 1955 · SingleFamily · Pending · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $650/mo
• Mortgage (P&I): −$184
• Tax + insurance: −$31
• HOA: −$0
• Vac / Maint / Mgmt: −$136
• Net cashflow: $299/mo
• Annual: $3,593/yr
• Cap rate: 16.56%
• Cash-on-cash: 36.66%
• DSCR: 2.63
• 1% rule: 1.86%
• Cash to close: $9,800

Investor read

• This is a 1-bed/1.0-bath single-family listed at $35k.
• At list price, monthly cash flow is $299 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($650 rent vs $35k).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $1k of equity ($242 loan paydown + $1k appreciation (3.4% local appreciation)).
• Location reads 61/100 on livability (#936 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, employment D-.
• East Alton-Wood River Chsd 14 (suburban): math 10% / reading 20% proficiency, ranked #793 of 919 in IL (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: East Alton-Wood River High Sch (math 8% / reading 12%, grade F, #567 of 693 statewide, top 83%, 537 students, 0% FRL).
• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 6 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 336 units permitted in Madison County in 2024 (0 in 5+ unit buildings).
• Madison County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.4% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1955 — 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?
• 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.