705 W Adams St

Blandinsville, IL 61420

$69,900C

2 bd · 1.0 ba · 784 sqft · Built 1920 · Other · Active · 172 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $841/mo
• Mortgage (P&I): −$367
• Tax + insurance: −$134
• HOA: −$0
• Vac / Maint / Mgmt: −$177
• Net cashflow: $164/mo
• Annual: $1,967/yr
• Cap rate: 9.11%
• Cash-on-cash: 10.05%
• DSCR: 1.45
• 1% rule: 1.20%
• Cash to close: $19,572

Investor read

• This is a 2-bed/1.0-bath other listed at $70k.
• At list price, monthly cash flow is $164 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($841 rent vs $70k).
• It's been on market 172 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $62k (12.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($483 loan paydown + $1k appreciation (1.9% local appreciation)).
• Location reads 61/100 on livability (#916 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, schools D, crime D-.
• West Prairie CUSD 103 (rural): math 20% / reading 23% proficiency, ranked #408 of 620 in IL (top 66%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 6 active listings in the ZIP.
• 6 sale attempts since 2y ago; this cycle's ask has dropped $5k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $13k; list at $70k implies a 438% gain — meaningful room to come down on a strong offer.
• At projected returns (1.9% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~5 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 172 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 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.