1521 Triangle St

Mount Vernon, IL 62864

$105,500C+

2 bd · 1.0 ba · 1,056 sqft · Built 1980 · SingleFamily · Active · 47 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,310/mo
• Mortgage (P&I): −$553
• Tax + insurance: −$176
• HOA: −$0
• Vac / Maint / Mgmt: −$275
• Net cashflow: $306/mo
• Annual: $3,670/yr
• Cap rate: 9.77%
• Cash-on-cash: 12.42%
• DSCR: 1.55
• 1% rule: 1.24%
• Cash to close: $29,540

Investor read

• This is a 2-bed/1.0-bath single-family listed at $106k. Condition is rated fair.
• At list price, monthly cash flow is $306 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $106k).
• It's been on market 47 days — a 3% lower offer ($102k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $102k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $729 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 69/100 on livability (#413 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools F, amenities F, commute F.
• Mt Vernon Twp Hsd 201 (town): math 13% / reading 16% proficiency, ranked #532 of 620 in IL (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 191 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 6 units permitted in Jefferson County in 2024 (0 in 5+ unit buildings).
• Jefferson County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 7y ago; this cycle's ask is 91% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $42k; list at $106k implies a 151% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $30k cash investment doubles in ~10 years — after that, you're playing with house money.
• Cap rate 9.8% vs local median 5.2% in Mount Vernon — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

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?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Moderate: Kitchen cabinets — Worn and dated appearance.
• Minor: Bathroom vanity — Functional but dated design.
• Moderate: Exterior siding — Weathered appearance.
• Minor: Paint — Faded in some areas.
• Minor: Windows — Old appearance but functional.
• Minor: Landscaping — Simple and needs attention.