2120 Jackson St

Prairie du Rocher, IL 62279

$15,000C-

2 bd · 2.0 ba · 810 sqft · Built 1880 · SingleFamily · Pending · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $860/mo
• Mortgage (P&I): −$79
• Tax + insurance: −$25
• HOA: −$0
• Vac / Maint / Mgmt: −$181
• Net cashflow: $575/mo
• Annual: $6,905/yr
• Cap rate: 52.33%
• Cash-on-cash: 164.40%
• DSCR: 8.32
• 1% rule: 5.73%
• Cash to close: $4,200

Investor read

• This is a 2-bed/2.0-bath single-family listed at $15k.
• At list price, monthly cash flow is $575 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($860 rent vs $15k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $554 of equity ($104 loan paydown + $450 appreciation (3.0% local appreciation)).
• Location reads 55/100 on livability (#1,250 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: employment D+, crime D, amenities F.
• Waterloo CUSD 5 (town): math 38% / reading 46% proficiency, ranked #109 of 620 in IL (top 18%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 16% free/reduced lunch — higher-income household profile.
• Zoned schools: Waterloo High School (math 37% / reading 37%, grade F, #107 of 693 statewide, top 17%, 895 students, 0% FRL) — zoned schools average 0% FRL vs 16% district-wide (16 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 1 active listings in the ZIP; 62 units permitted in Monroe County in 2024 (0 in 5+ unit buildings).
• At projected returns (3.0% appreciation + 3.0% rent growth), your $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Questions for listing agent

• Built in 1880 — 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 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.