7054 E 4300 Rd

East Lynn, IL 60960

$69,000B

4 bd · 1.5 ba · 2,032 sqft · Built 1924 · SingleFamily · Pending · 26 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,135/mo
• Mortgage (P&I): −$362
• Tax + insurance: −$205
• HOA: −$0
• Vac / Maint / Mgmt: −$238
• Net cashflow: $329/mo
• Annual: $3,953/yr
• Cap rate: 12.02%
• Cash-on-cash: 20.46%
• DSCR: 1.91
• 1% rule: 1.65%
• Cash to close: $19,320

Investor read

• This is a 4-bed/1.5-bath single-family listed at $69k.
• At list price, monthly cash flow is $329 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $69k).
• It's been on market 26 days — a 2% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $68k (1.5% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($477 loan paydown + $568 appreciation (0.8% local appreciation)).
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Hoopeston Area CUSD 11 (town): math 9% / reading 15% proficiency, ranked #559 of 620 in IL (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Watch-outs: property tax is 3.1% of price; built in 1924 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 16 active listings in the ZIP; 8 units permitted in Vermilion County in 2024 (0 in 5+ unit buildings).
• Vermilion County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.8% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~4 years — after that, you're playing with house money.

Questions for listing agent

• Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.