204 W Coal St

Buckner, IL 62819

$97,000C+

2 bd · 1.0 ba · 1,208 sqft · Built 1920 · SingleFamily · Pending · 12 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,023/mo
• Mortgage (P&I): −$509
• Tax + insurance: −$68
• HOA: −$0
• Vac / Maint / Mgmt: −$215
• Net cashflow: $231/mo
• Annual: $2,776/yr
• Cap rate: 9.15%
• Cash-on-cash: 10.22%
• DSCR: 1.45
• 1% rule: 1.05%
• Cash to close: $27,160

Investor read

• This is a 2-bed/1.0-bath single-family listed at $97k.
• At list price, monthly cash flow is $231 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $97k).
• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $4k of equity ($671 loan paydown + $3k appreciation (3.0% local appreciation)).
• Location reads 51/100 on livability (#1,323 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools F, crime F, amenities F.
• Christopher USD 99 (town): math 9% / reading 21% proficiency, ranked #520 of 620 in IL (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 3 active listings in the ZIP; 17 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).
• Franklin County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $26k; list at $97k implies a 273% gain — meaningful room to come down on a strong offer.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Built in 1920 — 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?
• 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?
• 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.