1003 W Jourdan St

Newton, IL 62448

$59,000A-

2 bd · 1.0 ba · 988 sqft · Built 1925 · SingleFamily · Pending · 80 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $892/mo
• Mortgage (P&I): −$309
• Tax + insurance: −$57
• HOA: −$0
• Vac / Maint / Mgmt: −$187
• Net cashflow: $338/mo
• Annual: $4,055/yr
• Cap rate: 13.17%
• Cash-on-cash: 24.55%
• DSCR: 2.09
• 1% rule: 1.51%
• Cash to close: $16,520

Investor read

• This is a 2-bed/1.0-bath single-family listed at $59k.
• At list price, monthly cash flow is $338 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($892 rent vs $59k).
• It's been on market 80 days — a 6% lower offer ($55k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $55k (6.0% below list) — sets the bar for market timing.
• In year one you build about $6k of equity ($408 loan paydown + $6k appreciation (10.0% local appreciation)).
• Location reads 63/100 on livability (#809 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D, amenities F, commute F.
• Jasper County CUD 1 (town): math 29% / reading 30% proficiency, ranked #253 of 620 in IL (top 41%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Newton Elem School (math 25% / reading 26%, grade F, #829 of 2,056 statewide, top 41%, 487 students, 0% FRL); Jasper Co Jr High (math 42% / reading 47%, grade D, #95 of 665 statewide, top 15%, 192 students, 0% FRL); Newton Comm High School (math 22% / reading 22%, grade F, #319 of 693 statewide, top 50%, 385 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: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 18 active listings in the ZIP.
• Jasper County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 80 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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?
• 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.