300 N 3rd St

Wyoming, IL 61491

$125,000C+

4 bd · 2.0 ba · 1,900 sqft · Built 1962 · SingleFamily · Active · 20 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,267/mo
• Mortgage (P&I): −$656
• Tax + insurance: −$195
• HOA: −$0
• Vac / Maint / Mgmt: −$266
• Net cashflow: $150/mo
• Annual: $1,798/yr
• Cap rate: 7.73%
• Cash-on-cash: 5.14%
• DSCR: 1.23
• 1% rule: 1.01%
• Cash to close: $35,000

Investor read

• This is a 4-bed/2.0-bath single-family listed at $125k.
• At list price, monthly cash flow is $150 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• It's been on market 20 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $123k (1.5% below list) — sets the bar for market timing.
• In year one you build about $9k of equity ($864 loan paydown + $8k appreciation (6.6% local appreciation)).
• Location reads 69/100 on livability (#426 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Stark County CUSD 100 (rural): math 17% / reading 21% proficiency, ranked #435 of 620 in IL (top 70%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Stark County Elem Sch (math 22% / reading 22%, grade F, #940 of 2,056 statewide, top 49%, 303 students, 0% FRL); Stark County Junior High School (math 12% / reading 17%, grade F, #517 of 665 statewide, top 79%, 148 students, 0% FRL); Stark County High School (math 24% / reading 24%, grade F, #256 of 693 statewide, top 44%, 241 students, 0% FRL) — zoned schools average 0% FRL vs 34% district-wide (34 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 4 active listings in the ZIP; 2 units permitted in Stark County in 2024 (0 in 5+ unit buildings).
• Stark County population projected at -36% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $78k; list at $125k implies a 60% gain — meaningful room to come down on a strong offer.
• At projected returns (6.6% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, 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

• Built in 1962 — 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?
• 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.