818 E Belleville Ave

Christopher, IL 62822

$79,900B-

3 bd · 2.0 ba · 1,554 sqft · Built 1930 · SingleFamily · Active · 61 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $860/mo
• Mortgage (P&I): −$419
• Tax + insurance: −$86
• HOA: −$0
• Vac / Maint / Mgmt: −$181
• Net cashflow: $174/mo
• Annual: $2,093/yr
• Cap rate: 8.91%
• Cash-on-cash: 9.35%
• DSCR: 1.42
• 1% rule: 1.08%
• Cash to close: $22,372

Investor read

• This is a 3-bed/2.0-bath single-family listed at $80k.
• At list price, monthly cash flow is $174 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($860 rent vs $80k).
• It's been on market 61 days — a 6% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $75k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $552 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 58/100 on livability (#1,100 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Christopher USD 99 (town): math 9% / reading 21% proficiency, ranked #520 of 620 in IL (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 17 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 17 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).
• Franklin County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 6y ago; this cycle's ask has dropped $10k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $40k; list at $80k implies a 100% gain — meaningful room to come down on a strong offer.

Questions for listing agent

• It's been on market 61 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1930 — 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 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.