143 4th St

Silvis, IL 61282

$69,000C+

1 bd · 1.0 ba · 638 sqft · Built 1930 · Other · Active · 37 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $941/mo
• Mortgage (P&I): −$362
• Tax + insurance: −$198
• HOA: −$0
• Vac / Maint / Mgmt: −$198
• Net cashflow: $183/mo
• Annual: $2,201/yr
• Cap rate: 9.48%
• Cash-on-cash: 11.39%
• DSCR: 1.51
• 1% rule: 1.36%
• Cash to close: $19,320

Investor read

• This is a 1-bed/1.0-bath other listed at $69k.
• At list price, monthly cash flow is $183 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($941 rent vs $69k).
• It's been on market 37 days — a 3% lower offer ($67k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $67k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $477 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#361 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: crime D, schools F, amenities D-.
• United Twp Hsd 30 (suburban): math 12% / reading 15% proficiency, ranked #536 of 620 in IL (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Watch-outs: property tax is 2.9% of price; built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 42 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 116 units permitted in Rock Island County in 2024 (50 in 5+ unit buildings).
• Rock Island County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 10y 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.
• Current owner paid $46k; 49% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~10 years — after that, you're playing with house money.
• Cap rate 9.5% vs local median 3.3% in Silvis — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1930 — 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.
• 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?
• 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.