314 S Quincy St

Clinton, IL 61727

$70,000B

2 bd · 1.0 ba · 1,008 sqft · Built 1893 · SingleFamily · Pending · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $936/mo
• Mortgage (P&I): −$367
• Tax + insurance: −$158
• HOA: −$0
• Vac / Maint / Mgmt: −$197
• Net cashflow: $215/mo
• Annual: $2,582/yr
• Cap rate: 9.98%
• Cash-on-cash: 13.17%
• DSCR: 1.59
• 1% rule: 1.34%
• Cash to close: $19,600

Investor read

• This is a 2-bed/1.0-bath single-family listed at $70k.
• At list price, monthly cash flow is $215 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($936 rent vs $70k).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $484 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#519 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, amenities F, commute F.
• Clinton CUSD 15 (town): math 20% / reading 30% proficiency, ranked #323 of 620 in IL (top 52%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Clinton Elem School (math 36% / reading 38%, grade F, #457 of 2,056 statewide, top 24%, 477 students, 0% FRL); Clinton Jr High School (math 10% / reading 24%, grade F, #460 of 665 statewide, top 72%, 370 students, 0% FRL); Clinton High School (math 12% / reading 27%, grade F, #397 of 693 statewide, top 61%, 483 students, 0% FRL) — zoned schools average 0% FRL vs 42% district-wide (42 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1893 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 38 active listings in the ZIP; 14 units permitted in De Witt County in 2024 (0 in 5+ unit buildings).
• De Witt County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $60k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~9 years — after that, you're playing with house money.
• Cap rate 10.0% vs local median 4.9% in Clinton — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• Built in 1893 — 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.