105 N Hickory St

Farina, IL 62838

$55,000B+

2 bd · 1.0 ba · 980 sqft · Built 1985 · SingleFamily · Pending · 14 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $876/mo
• Mortgage (P&I): −$288
• Tax + insurance: −$92
• HOA: −$0
• Vac / Maint / Mgmt: −$184
• Net cashflow: $312/mo
• Annual: $3,739/yr
• Cap rate: 13.09%
• Cash-on-cash: 24.28%
• DSCR: 2.08
• 1% rule: 1.59%
• Cash to close: $15,400

Investor read

• This is a 2-bed/1.0-bath single-family listed at $55k. Condition is rated good.
• At list price, monthly cash flow is $312 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($876 rent vs $55k).
• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $2k of equity ($380 loan paydown + $2k appreciation (3.0% local appreciation)).
• Location reads 61/100 on livability (#909 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• South Central CUD 401 (rural): math 12% / reading 19% proficiency, ranked #506 of 620 in IL (top 82%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: South Central Elementary-Kinmundy (math 12% / reading 12%, grade F, #1,403 of 2,056 statewide, top 71%, 279 students, 0% FRL); South Central Middle School (math 12% / reading 22%, grade F, #460 of 665 statewide, top 72%, 144 students, 0% FRL); South Central High School (math 17% / reading 22%, grade F, #397 of 693 statewide, top 61%, 206 students, 0% FRL) — zoned schools average 0% FRL vs 51% district-wide (51 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 6 active listings in the ZIP.
• Fayette County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Questions for listing agent

• 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.