500 S 8th St

Oquawka, IL 61418

$73,000B+

3 bd · 1.0 ba · 1,248 sqft · Built 1968 · SingleFamily · Active · 8 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,105/mo
• Mortgage (P&I): −$383
• Tax + insurance: −$128
• HOA: −$0
• Vac / Maint / Mgmt: −$232
• Net cashflow: $363/mo
• Annual: $4,350/yr
• Cap rate: 12.25%
• Cash-on-cash: 21.28%
• DSCR: 1.95
• 1% rule: 1.51%
• Cash to close: $20,440

Investor read

• This is a 3-bed/1.0-bath single-family listed at $73k.
• At list price, monthly cash flow is $363 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $73k).
• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $3k of equity ($505 loan paydown + $2k appreciation (3.0% local appreciation)).
• Location reads 64/100 on livability (#686 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: health & safety C-, schools F, amenities F.
• West Central CUSD 235 (rural): math 8% / reading 10% proficiency, ranked #581 of 620 in IL (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 5 active listings in the ZIP; 5 units permitted in Henderson County in 2024 (0 in 5+ unit buildings).
• Henderson County population projected at -31% 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 $20k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1968 — 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?
• 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.