116 W Union St

Earlville, IL 60518

$169,000D+

5 bd · 2.0 ba · 1,607 sqft · Built 1870 · SingleFamily · Active · 23 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,644/mo
• Mortgage (P&I): −$886
• Tax + insurance: −$378
• HOA: −$0
• Vac / Maint / Mgmt: −$345
• Net cashflow: $35/mo
• Annual: $422/yr
• Cap rate: 6.54%
• Cash-on-cash: 0.89%
• DSCR: 1.04
• 1% rule: 0.97%
• Cash to close: $47,320

Investor read

• This is a 5-bed/2.0-bath single-family listed at $169k.
• At list price, monthly cash flow is $35 ($422/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 $164k (2.7% below list).
• It's been on market 23 days — a 2% lower offer ($166k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $164k (2.7% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 63/100 on livability (#749 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: health & safety C-, employment D, amenities F.
• Earlville CUSD 9 (rural): math 30% / reading 40% proficiency, ranked #406 of 919 in IL (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Earlville Elem School (math 22% / reading 22%, grade F, #940 of 2,056 statewide, top 49%, 242 students, 0% FRL); Earlville Jr/Sr High School (math 24% / reading 15%, grade F, #379 of 693 statewide, top 57%, 97 students, 0% FRL) — zoned schools average 0% FRL vs 46% district-wide (46 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 21% at this address vs 35% district-wide (-14 pts) — the specific schools serving this property underperform the Earlville CUSD 9 average; the district grade overstates school quality for this exact location.
• Watch-outs: built in 1870 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 33 active listings in the ZIP; 82 units permitted in LaSalle County in 2024 (0 in 5+ unit buildings).
• LaSalle County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 7 sale attempts since 19y 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.
• Current owner paid $87k; list at $169k implies a 94% gain — meaningful room to come down on a strong offer.

Questions for listing agent

• Built in 1870 — 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.