117 N Scott St

Westville, IL 61883

$79,900C-

2 bd · 1.0 ba · 848 sqft · Built 1941 · SingleFamily · Active · 56 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $722/mo
• Mortgage (P&I): −$419
• Tax + insurance: −$114
• HOA: −$0
• Vac / Maint / Mgmt: −$152
• Net cashflow: $37/mo
• Annual: $444/yr
• Cap rate: 6.85%
• Cash-on-cash: 1.98%
• DSCR: 1.09
• 1% rule: 0.90%
• Cash to close: $22,372

Investor read

• This is a 2-bed/1.0-bath single-family listed at $80k.
• At list price, monthly cash flow is $37 ($444/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $72k (9.6% below list).
• It's been on market 56 days — a 3% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $72k (9.6% below list) — sets the bar for 1% rule.
• In year one you build about $1k of equity ($552 loan paydown + $805 appreciation (1.0% local appreciation)).
• Location reads 69/100 on livability (#404 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, amenities F, commute F.
• Westville CUSD 2 (suburban): math 8% / reading 9% proficiency, ranked #590 of 620 in IL (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Westville Jr High School (math 8% / reading 8%, grade F, #612 of 665 statewide, top 93%, 177 students, 0% FRL); Westville High School (math 8% / reading 8%, grade F, #589 of 693 statewide, top 86%, 350 students, 0% FRL) — zoned schools average 0% FRL vs 54% district-wide (54 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 15 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 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.
• 4 sale attempts since 3y 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 $60k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (1.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~9 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 56 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
• Built in 1941 — 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.