75 Bedrock Rdg Unit B

Elkville, IL 62932

$138,000D-

2 bd · 1.0 ba · 900 sqft · Built 2017 · SingleFamily · Active · 113 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $848/mo
• Mortgage (P&I): −$724
• Tax + insurance: −$230
• HOA: −$0
• Vac / Maint / Mgmt: −$178
• Net cashflow: $-284/mo
• Annual: $-3,406/yr
• Cap rate: 3.83%
• Cash-on-cash: -8.81%
• DSCR: 0.61
• 1% rule: 0.61%
• Cash to close: $38,640

Investor read

• This is a 2-bed/1.0-bath single-family listed at $138k.
• At list price, monthly cash flow is $-284 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $97k (29.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $85k (38.6% below list).
• It's been on market 113 days — a 9% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $85k (38.6% below list) — sets the bar for 1% rule.
• In year one you build about $2k of equity ($954 loan paydown + $725 appreciation (0.5% local appreciation)).
• Location reads 58/100 on livability (#1,123 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: employment D, schools F, crime D-.
• Elverado CUSD 196 (rural): math 25% / reading 45% proficiency, ranked #418 of 919 in IL (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 12 active listings in the ZIP; 5 units permitted in Jackson County in 2024 (0 in 5+ unit buildings).
• 2 sale attempts 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.
• Climate carrying-cost: extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

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 113 days. Have you received any prior offers? Is the seller open to a 39% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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?
• 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?
• This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?