8360 Club Ln

Alma, IL 62807

$95,000C-

2 bd · 1.0 ba · 980 sqft · Built 1983 · SingleFamily · Active · 9 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $876/mo
• Mortgage (P&I): −$498
• Tax + insurance: −$108
• HOA: −$0
• Vac / Maint / Mgmt: −$184
• Net cashflow: $86/mo
• Annual: $1,029/yr
• Cap rate: 7.38%
• Cash-on-cash: 3.87%
• DSCR: 1.17
• 1% rule: 0.92%
• Cash to close: $26,600

Investor read

• This is a 2-bed/1.0-bath single-family listed at $95k.
• At list price, monthly cash flow is $86 ($1k/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 $88k (7.8% below list).
• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $88k (7.8% below list) — sets the bar for 1% rule.
• In year one you build about $4k of equity ($657 loan paydown + $4k appreciation (3.9% local appreciation)).
• Location reads 55/100 on livability (#1,241 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-; Watch: crime F, amenities F, commute F.
• Patoka CUSD 100 (rural): math 10% / reading 20% proficiency, ranked #765 of 919 in IL (top 83%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Patoka Elem School (math 8% / reading 17%, grade F, #1,371 of 2,056 statewide, top 68%, 114 students, 0% FRL); Patoka Jr High School (math 5% / reading 5%, grade F, #636 of 665 statewide, top 98%, 48 students, 0% FRL); Patoka Sr High School (math 24% / reading 24%, grade F, #256 of 693 statewide, top 44%, 71 students, 0% FRL) — zoned schools average 0% FRL vs 46% district-wide (46 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 3 active listings in the ZIP; 2 units permitted in Marion County in 2024 (0 in 5+ unit buildings).
• Marion County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.9% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• 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?
• This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
• What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
• Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
• 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.