256 7th St

Silvis, IL 61282

$129,500D+

2 bd · 1.0 ba · 1,218 sqft · Built 1930 · SingleFamily · Active · 13 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,170/mo
• Mortgage (P&I): −$679
• Tax + insurance: −$160
• HOA: −$0
• Vac / Maint / Mgmt: −$246
• Net cashflow: $85/mo
• Annual: $1,015/yr
• Cap rate: 7.08%
• Cash-on-cash: 2.80%
• DSCR: 1.12
• 1% rule: 0.90%
• Cash to close: $36,260

Investor read

• This is a 2-bed/1.0-bath single-family listed at $130k.
• At list price, monthly cash flow is $85 ($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 $117k (9.7% below list).
• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $117k (9.7% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $895 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#361 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: crime D, amenities D-, commute F.
• United Twp Hsd 30 (suburban): math 12% / reading 15% proficiency, ranked #536 of 620 in IL (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: George O Barr School (math 2% / reading 12%, grade F, #1,673 of 2,056 statewide, top 84%, 418 students, 0% FRL); Northeast Jr High School (math 8% / reading 12%, grade F, #592 of 665 statewide, top 90%, 202 students, 0% FRL); United Twp High School (math 12% / reading 15%, grade F, #498 of 693 statewide, top 72%, 1,789 students, 0% FRL).
• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 43 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 116 units permitted in Rock Island County in 2024 (50 in 5+ unit buildings).
• Rock Island County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $35k; list at $130k implies a 270% gain — meaningful room to come down on a strong offer.
• Cap rate 7.1% vs local median 3.4% in Silvis — 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 1930 — 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?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.