709 W Park St

Thomasboro, IL 61878

$112,000C-

4 bd · 2.0 ba · 1,414 sqft · Built 1973 · Other · Active · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,012/mo
• Mortgage (P&I): −$587
• Tax + insurance: −$147
• HOA: −$0
• Vac / Maint / Mgmt: −$213
• Net cashflow: $65/mo
• Annual: $779/yr
• Cap rate: 6.99%
• Cash-on-cash: 2.49%
• DSCR: 1.11
• 1% rule: 0.90%
• Cash to close: $31,360

Investor read

• This is a 4-bed/2.0-bath other listed at $112k.
• At list price, monthly cash flow is $65 ($779/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $101k (9.6% below list).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $101k (9.6% below list) — sets the bar for 1% rule.
• In year one you build about $11k of equity ($774 loan paydown + $10k appreciation (8.9% local appreciation)).
• Location reads 67/100 on livability (#514 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Rantoul Township Hsd 193 (town): math 10% / reading 10% proficiency, ranked #824 of 919 in IL (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Rantoul Twp High School (math 8% / reading 12%, grade F, #567 of 693 statewide, top 83%, 848 students, 0% FRL).
• Market conditions: 4 active listings in the ZIP; 573 units permitted in Champaign County in 2024 (359 in 5+ unit buildings).
• Champaign County population projected at +15% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 6 sale attempts since 23y 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 $70k; list at $112k implies a 60% gain — meaningful room to come down on a strong offer.
• At projected returns (8.9% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1973 — 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.
• 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.