107 S 1st St

Oakford, IL 62673

$79,900C+

2 bd · 2.0 ba · 1,079 sqft · Built 1920 · SingleFamily · Pending · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $975/mo
• Mortgage (P&I): −$419
• Tax + insurance: −$108
• HOA: −$0
• Vac / Maint / Mgmt: −$205
• Net cashflow: $243/mo
• Annual: $2,921/yr
• Cap rate: 9.95%
• Cash-on-cash: 13.06%
• DSCR: 1.58
• 1% rule: 1.22%
• Cash to close: $22,372

Investor read

• This is a 2-bed/2.0-bath single-family listed at $80k.
• At list price, monthly cash flow is $243 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($975 rent vs $80k).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $4k of equity ($552 loan paydown + $3k appreciation (4.0% local appreciation)).
• Location reads 57/100 on livability (#1,156 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: employment D+, crime D, schools F.
• Porta CUSD 202 (town): math 16% / reading 29% proficiency, ranked #363 of 620 in IL (top 58%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 4 active listings in the ZIP; 9 units permitted in Menard County in 2024 (0 in 5+ unit buildings).
• Menard County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 5 sale attempts since 26y 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 $48k; list at $80k implies a 65% gain — meaningful room to come down on a strong offer.
• At projected returns (4.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Built in 1920 — 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 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.