63 W 5th St

Dallas City, IL 62330

$129,000C-

5 bd · 1.0 ba · 1,400 sqft · Built 1900 · SingleFamily · Active · 309 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,267/mo
• Mortgage (P&I): −$676
• Tax + insurance: −$232
• HOA: −$0
• Vac / Maint / Mgmt: −$266
• Net cashflow: $92/mo
• Annual: $1,105/yr
• Cap rate: 7.15%
• Cash-on-cash: 3.06%
• DSCR: 1.14
• 1% rule: 0.98%
• Cash to close: $36,120

Investor read

• This is a 5-bed/1.0-bath single-family listed at $129k.
• At list price, monthly cash flow is $92 ($1k/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 $127k (1.8% below list).
• It's been on market 309 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($892 loan paydown + $489 appreciation (0.4% local appreciation)).
• Location reads 66/100 on livability (#549 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, employment D+, amenities F.
• Illini West H S District 307 (town): math 25% / reading 25% proficiency, ranked #611 of 919 in IL (top 66%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Dallas City Elem School (math 12% / reading 17%, grade F, #1,278 of 2,056 statewide, top 65%, 169 students, 0% FRL); Illini West High School (math 17% / reading 27%, grade F, #319 of 693 statewide, top 50%, 342 students, 0% FRL).
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 18 active listings in the ZIP.
• Hancock County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask has dropped $24k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (0.4% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~9 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 309 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.