101 Lincoln St

Sidell, IL 61876

$139,900D

4 bd · 2.0 ba · 1,800 sqft · Built 1900 · Other · Active · 32 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,278/mo
• Mortgage (P&I): −$734
• Tax + insurance: −$322
• HOA: −$0
• Vac / Maint / Mgmt: −$268
• Net cashflow: $-46/mo
• Annual: $-551/yr
• Cap rate: 5.90%
• Cash-on-cash: -1.41%
• DSCR: 0.94
• 1% rule: 0.91%
• Cash to close: $39,172

Investor read

• This is a 4-bed/2.0-bath other listed at $140k.
• At list price, monthly cash flow is $-46 ($-551/yr) — negative.
• To cash-flow at today's rent, offer at most $132k (5.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $128k (8.6% below list).
• It's been on market 32 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $128k (8.6% below list) — sets the bar for 1% rule.
• Local home prices are declining (-2.3%/yr); year-one equity from $967 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#633 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Zoned schools: Salt Fork Junior High School (math 17% / reading 42%, grade F, #256 of 665 statewide, top 41%, 186 students, 0% FRL); Salt Fork High School (math 5% / reading 15%, grade F, #528 of 693 statewide, top 82%, 247 students, 0% FRL).
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 2 active listings in the ZIP; 8 units permitted in Vermilion County in 2024 (0 in 5+ unit buildings).
• Vermilion County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $59k; list at $140k implies a 137% gain — meaningful room to come down on a strong offer.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 32 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?
• 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.