100 Iroquois St

East Cape Girardeau, IL 62957

$54,900B+

2 bd · 1.0 ba · 960 sqft · Built 1972 · Other · Active · 183 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $883/mo
• Mortgage (P&I): −$288
• Tax + insurance: −$568
• HOA: −$0
• Vac / Maint / Mgmt: −$185
• Net cashflow: $-158/mo
• Annual: $-1,897/yr
• Cap rate: 12.90%
• Cash-on-cash: 23.60%
• DSCR: 2.05
• 1% rule: 1.61%
• Cash to close: $15,372

Investor read

• This is a 2-bed/1.0-bath other listed at $55k.
• At list price, monthly cash flow is $-158 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $27k (50.9% below list).
• Meets the 1% rule at list price ($883 rent vs $55k).
• It's been on market 183 days — a 12% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $27k (50.9% below list) — sets the bar for cash-flow.
• In year one you build about $518 of equity ($380 loan paydown + $138 appreciation (0.2% local appreciation)).
• Location reads 56/100 on livability (#1,191 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: employment D, crime F, amenities F.
• Shawnee CUSD 84 (rural): math 15% / reading 15% proficiency, ranked #792 of 919 in IL (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Shawnee Elementary School (math 5% / reading 15%, grade F, #1,477 of 2,056 statewide, top 74%, 151 students, 0% FRL); Shawnee Jr High School (math 15% / reading 15%, grade F, #501 of 665 statewide, top 77%, 65 students, 0% FRL); Shawnee High School (math 10% / reading 10%, grade F, #528 of 693 statewide, top 82%, 69 students, 0% FRL) — zoned schools average 0% FRL vs 60% district-wide (60 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: flood insurance adds $460/mo.
• Market conditions: 13 active listings in the ZIP.
• Alexander County population projected at -53% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 6 sale attempts since 11y 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 $13k; list at $55k implies a 334% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 183 days. Have you received any prior offers? Is the seller open to a 51% concession, seller financing, or rate buy-down credit?
• Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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?
• Crime grade is F 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?