117 Hill St

Bartonville, IL 61607-1947

$100,000C+

3 bd · 1.0 ba · 1,189 sqft · Built 1930 · SingleFamily · Pending · 28 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $974/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$167
• HOA: −$0
• Vac / Maint / Mgmt: −$205
• Net cashflow: $78/mo
• Annual: $942/yr
• Cap rate: 7.23%
• Cash-on-cash: 3.36%
• DSCR: 1.15
• 1% rule: 0.97%
• Cash to close: $28,000

Investor read

• This is a 3-bed/1.0-bath single-family listed at $100k. Condition is rated good.
• At list price, monthly cash flow is $78 ($942/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 $97k (2.6% below list).
• It's been on market 28 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $97k (2.6% below list) — sets the bar for 1% rule.
• In year one you build about $4k of equity ($691 loan paydown + $3k appreciation (3.0% local appreciation)).
• Location reads 62/100 on livability (#840 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D+, amenities F, commute F.
• Limestone Chsd 310 (rural): math 25% / reading 35% proficiency, ranked #486 of 919 in IL (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Bartonville Elem School (math 8% / reading 12%, grade F, #1,517 of 2,056 statewide, top 78%, 230 students, 0% FRL); Limestone Community High School (math 17% / reading 22%, grade F, #397 of 693 statewide, top 61%, 924 students, 0% FRL).
• Zoned-school proficiency averages 15% at this address vs 30% district-wide (-15 pts) — the specific schools serving this property underperform the Limestone Chsd 310 average; the district grade overstates school quality for this exact location.
• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 1 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 73 units permitted in Peoria County in 2024 (0 in 5+ unit buildings).
• Peoria County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 7.2% vs local median 3.5% in Bartonville — 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

• Built in 1930 — 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 D-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.
• 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.