210 N Main St

Tampico, IL 61283

$62,000B+

4 bd · 1.5 ba · 1,836 sqft · Built — · Other · Pending · 16 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,271/mo
• Mortgage (P&I): −$325
• Tax + insurance: −$99
• HOA: −$0
• Vac / Maint / Mgmt: −$267
• Net cashflow: $580/mo
• Annual: $6,958/yr
• Cap rate: 17.52%
• Cash-on-cash: 40.08%
• DSCR: 2.78
• 1% rule: 2.05%
• Cash to close: $17,360

Investor read

• This is a 4-bed/1.5-bath other listed at $62k.
• At list price, monthly cash flow is $580 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $62k).
• It's been on market 16 days — a 2% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $61k (1.5% below list) — sets the bar for market timing.
• In year one you build about $63 of equity ($429 loan paydown + $-366 appreciation (-0.6% local appreciation)).
• Location reads 62/100 on livability (#869 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D, employment D, amenities F.
• Zoned schools: Plt Middle School (math 12% / reading 27%, grade F, #425 of 665 statewide, top 65%, 168 students, 0% FRL); Prophetstown High School (math 15% / reading 24%, grade F, #379 of 693 statewide, top 57%, 214 students, 0% FRL).
• Market conditions: 1 active listings in the ZIP; 19 units permitted in Whiteside County in 2024 (0 in 5+ unit buildings).
• Whiteside County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 5 sale attempts since 18y 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.
• At projected returns (-0.6% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• 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.