210 E 9th St

Gibson City, IL 60936

$625,000D+

16 bd · 9.6 ba · 7,000 sqft · Built 1975 · MultiFamily · Pending · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $6,450/mo
• Mortgage (P&I): −$3,278
• Tax + insurance: −$1,042
• HOA: −$0
• Vac / Maint / Mgmt: −$1,354
• Net cashflow: $776/mo
• Annual: $9,315/yr
• Cap rate: 7.78%
• Cash-on-cash: 5.32%
• DSCR: 1.24
• 1% rule: 1.03%
• Cash to close: $175,000

Investor read

• This is a 8 × 2-bed/?-bath units multifamily listed at $625k. Condition is rated fair.
• At list price, monthly cash flow is $776 ($9k/yr) — positive. Per door: $97/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $625k).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $19k of value loss. Plan a longer hold.
• Location reads 63/100 on livability (#777 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A-, housing A-; Watch: schools D, amenities F, commute F.
• Gibson City-Melvin-Sibley CUSD 5 (town): math 26% / reading 36% proficiency, ranked #242 of 620 in IL (top 39%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 17 active listings in the ZIP; 10 units permitted in Ford County in 2024 (0 in 5+ unit buildings).
• Ford County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Questions for listing agent

• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1975 — 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 D-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.

Repairs flagged (vision-AI assessment)

• Major: Roof — The independent satellite image shows a flat roof with visible wear and tear, indicating potential need for replacement.
• Moderate: Exterior siding — The exterior siding appears to be in fair condition, with some discoloration and wear visible.
• Minor: Flooring — The carpeted floors appear to be in fair condition, with some discoloration and wear visible.