104 N 6th St

Witt, IL 62094

$148,900F

4 bd · 1.0 ba · 896 sqft · Built 1950 · SingleFamily · Active · 17 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $942/mo
• Mortgage (P&I): −$781
• Tax + insurance: −$258
• HOA: −$0
• Vac / Maint / Mgmt: −$198
• Net cashflow: $-294/mo
• Annual: $-3,533/yr
• Cap rate: 3.92%
• Cash-on-cash: -8.47%
• DSCR: 0.62
• 1% rule: 0.63%
• Cash to close: $41,692

Investor read

• This is a 4-bed/1.0-bath single-family listed at $149k.
• At list price, monthly cash flow is $-294 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $97k (34.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $94k (36.7% below list).
• It's been on market 17 days — a 2% lower offer ($147k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $94k (36.7% below list) — sets the bar for 1% rule.
• In year one you build about $4k of equity ($1k loan paydown + $3k appreciation (2.1% local appreciation)).
• Location reads 54/100 on livability (#1,266 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B; Watch: crime F, amenities F, commute F.
• Hillsboro CUSD 3 (town): math 20% / reading 36% proficiency, ranked #282 of 620 in IL (top 46%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Hillsboro High School (math 12% / reading 17%, grade F, #479 of 693 statewide, top 71%, 468 students, 0% FRL) — zoned schools average 0% FRL vs 44% district-wide (44 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 14% at this address vs 28% district-wide (-14 pts) — the specific schools serving this property underperform the Hillsboro CUSD 3 average; the district grade overstates school quality for this exact location.
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 5 active listings in the ZIP; 12 units permitted in Montgomery County in 2024 (0 in 5+ unit buildings).
• Montgomery County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 5 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $60k; list at $149k implies a 148% gain — meaningful room to come down on a strong offer.
• By year 8, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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?
• Built in 1950 — 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?
• Crime grade is F 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.
• 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.