122 Arthur St

Wamac, IL 62801

$5,000D

3 bd · 1.0 ba · 720 sqft · Built 1950 · Other · Active · 42 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,007/mo
• Mortgage (P&I): −$26
• Tax + insurance: −$8
• HOA: −$0
• Vac / Maint / Mgmt: −$211
• Net cashflow: $761/mo
• Annual: $9,128/yr
• Cap rate: 188.85%
• Cash-on-cash: 651.99%
• DSCR: 30.01
• 1% rule: 20.13%
• Cash to close: $1,400

Investor read

• This is a 3-bed/1.0-bath other listed at $5k.
• At list price, monthly cash flow is $761 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $5k).
• It's been on market 42 days — a 3% lower offer ($5k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $5k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $35 of loan paydown is wiped out by about $150 of value loss. Plan a longer hold.
• Location reads 57/100 on livability (#1,145 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A, housing A; Watch: amenities F, commute F, employment F.
• Centralia Hsd 200 (town): math 21% / reading 26% proficiency, ranked #668 of 919 in IL (top 73%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Centralia High School (math 22% / reading 17%, grade F, #397 of 693 statewide, top 61%, 863 students, 0% FRL).
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 107 active listings in the ZIP; 17 units permitted in Washington County in 2024 (0 in 5+ unit buildings).
• Washington County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 3y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $1k cash investment doubles in ~1 year — after that, you're playing with house money.

Questions for listing agent

• It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1950 — 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.