2424 Business Highway 13 Rte

Harrison, IL 62966

$80,000C

1 bd · 2.0 ba · 1,323 sqft · Built 1988 · SingleFamily · Pending · 47 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $978/mo
• Mortgage (P&I): −$420
• Tax + insurance: −$198
• HOA: −$0
• Vac / Maint / Mgmt: −$205
• Net cashflow: $155/mo
• Annual: $1,859/yr
• Cap rate: 8.62%
• Cash-on-cash: 8.30%
• DSCR: 1.37
• 1% rule: 1.22%
• Cash to close: $22,400

Investor read

• This is a 1-bed/2.0-bath single-family listed at $80k.
• At list price, monthly cash flow is $155 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($978 rent vs $80k).
• It's been on market 47 days — a 3% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $78k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $553 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 53/100 on livability (#1,283 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: crime D-, amenities F, commute F.
• Murphysboro CUSD 186 (town): math 9% / reading 10% proficiency, ranked #585 of 620 in IL (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Carruthers Elementary School (math 11% / reading 11%, grade F, #1,460 of 2,056 statewide, top 72%, 406 students, 0% FRL); Murphysboro Middle School (math 4% / reading 6%, grade F, #636 of 665 statewide, top 98%, 444 students, 0% FRL); Murphysboro High School (math 17% / reading 17%, grade F, #430 of 693 statewide, top 66%, 598 students, 0% FRL) — zoned schools average 0% FRL vs 62% district-wide (62 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 79 active listings in the ZIP; 5 units permitted in Jackson County in 2024 (0 in 5+ unit buildings).
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 47 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• 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?
• 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.