111 E Walker St

Galatia, IL 62935

$30,000B+

2 bd · 1.0 ba · 972 sqft · Built — · Other · Pending

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $875/mo
• Mortgage (P&I): −$157
• Tax + insurance: −$104
• HOA: −$0
• Vac / Maint / Mgmt: −$184
• Net cashflow: $430/mo
• Annual: $5,155/yr
• Cap rate: 23.48%
• Cash-on-cash: 61.36%
• DSCR: 3.73
• 1% rule: 2.92%
• Cash to close: $8,400

Investor read

• This is a 2-bed/1.0-bath other listed at $30k.
• At list price, monthly cash flow is $430 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($875 rent vs $30k).
• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $2k of equity ($207 loan paydown + $2k appreciation (6.5% local appreciation)).
• Location reads 68/100 on livability (#460 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, schools F, amenities F.
• Galatia CUSD 1 (rural): math 21% / reading 34% proficiency, ranked #557 of 919 in IL (top 61%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Watch-outs: property tax is 3.7% of price.
• Market conditions: 9 active listings in the ZIP.
• Saline County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.5% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

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.
• 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.