304 N Taylor Ave

Cherry, IL 61317

$49,900B

4 bd · 1.0 ba · 1,242 sqft · Built — · SingleFamily · Active · 7 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,163/mo
• Mortgage (P&I): −$262
• Tax + insurance: −$187
• HOA: −$0
• Vac / Maint / Mgmt: −$244
• Net cashflow: $470/mo
• Annual: $5,641/yr
• Cap rate: 17.60%
• Cash-on-cash: 40.37%
• DSCR: 2.80
• 1% rule: 2.33%
• Cash to close: $13,972

Investor read

• This is a 4-bed/1.0-bath single-family listed at $50k.
• At list price, monthly cash flow is $470 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $2k of equity ($345 loan paydown + $1k appreciation (3.0% local appreciation)).
• Location reads 70/100 on livability (#357 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A; Watch: health & safety C-, amenities F, commute F.
• Hall Hsd 502 (town): math 25% / reading 30% proficiency, ranked #549 of 919 in IL (top 60%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Hall High School (math 17% / reading 17%, grade F, #430 of 693 statewide, top 66%, 403 students, 0% FRL).
• Watch-outs: property tax is 4.0% of price.
• Market conditions: 3 active listings in the ZIP; 17 units permitted in Bureau County in 2024 (0 in 5+ unit buildings).
• Bureau County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 9y 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.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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.