101 W Oak St

Broadwell, IL 62634

$100,000D

2 bd · 1.0 ba · 897 sqft · Built 1900 · Other · Active · 115 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $931/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$197
• HOA: −$0
• Vac / Maint / Mgmt: −$196
• Net cashflow: $15/mo
• Annual: $175/yr
• Cap rate: 6.47%
• Cash-on-cash: 0.63%
• DSCR: 1.03
• 1% rule: 0.93%
• Cash to close: $28,000

Investor read

• This is a 2-bed/1.0-bath other listed at $100k.
• At list price, monthly cash flow is $15 ($175/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 $93k (6.9% below list).
• It's been on market 115 days — a 9% lower offer ($91k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $91k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-2.2%/yr); year-one equity from $691 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 60/100 on livability (#956 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, crime D, schools F.
• Lincoln Chsd 404 (town): math 21% / reading 27% proficiency, ranked #367 of 620 in IL (top 59%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 1 active listings in the ZIP; 10 units permitted in Logan County in 2024 (0 in 5+ unit buildings).
• Logan County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Questions for listing agent

• It's been on market 115 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1900 — 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 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?
• 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.