7975 S Old Mazon Rd

Dwight, IL 60424

$222,750D

3 bd · 2.0 ba · 1,320 sqft · Built 1910 · SingleFamily · Pending · 40 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,906/mo
• Mortgage (P&I): −$1,168
• Tax + insurance: −$506
• HOA: −$0
• Vac / Maint / Mgmt: −$400
• Net cashflow: $-169/mo
• Annual: $-2,027/yr
• Cap rate: 5.38%
• Cash-on-cash: -3.25%
• DSCR: 0.86
• 1% rule: 0.86%
• Cash to close: $62,370

Investor read

• This is a 3-bed/2.0-bath single-family listed at $223k.
• At list price, monthly cash flow is $-169 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $193k (13.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $191k (14.4% below list).
• It's been on market 40 days — a 3% lower offer ($216k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $191k (14.4% below list) — sets the bar for 1% rule.
• In year one you build about $24k of equity ($2k loan paydown + $22k appreciation (10.0% local appreciation)).
• Location reads 72/100 on livability (#304 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: amenities F, commute F.
• Seneca Twp Hsd 160 (rural): math 30% / reading 35% proficiency, ranked #416 of 919 in IL (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mazon-Verona-Kinsman Elem School (math 27% / reading 17%, grade F, #940 of 2,056 statewide, top 49%, 169 students, 0% FRL); Mazon-Verona-Kinsman Middle Sch (math 22% / reading 22%, grade F, #389 of 665 statewide, top 60%, 145 students, 0% FRL); Seneca High School (math 32% / reading 32%, grade F, #157 of 693 statewide, top 25%, 385 students, 0% FRL).
• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 11 active listings in the ZIP; 84 units permitted in Grundy County in 2024 (0 in 5+ unit buildings).
• Grundy County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts since 11y 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.
• Current owner paid $145k; list at $223k implies a 54% gain — meaningful room to come down on a strong offer.
• By year 2, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 40 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
• Built in 1910 — 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.