1010 E Olive St

Staunton, IL 62088

$49,900B-

3 bd · 1.0 ba · 1,885 sqft · Built 1920 · SingleFamily · Active · 137 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,226/mo
• Mortgage (P&I): −$262
• Tax + insurance: −$191
• HOA: −$0
• Vac / Maint / Mgmt: −$257
• Net cashflow: $516/mo
• Annual: $6,188/yr
• Cap rate: 18.69%
• Cash-on-cash: 44.29%
• DSCR: 2.97
• 1% rule: 2.46%
• Cash to close: $13,972

Investor read

• This is a 3-bed/1.0-bath single-family listed at $50k.
• At list price, monthly cash flow is $516 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• It's been on market 137 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $345 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 59/100 on livability (#1,073 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime B; Watch: employment D+, schools D, amenities F.
• Staunton CUSD 6 (town): math 22% / reading 28% proficiency, ranked #323 of 620 in IL (top 52%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Watch-outs: property tax is 4.1% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 35 active listings in the ZIP; 70 units permitted in Macoupin County in 2024 (0 in 5+ unit buildings).
• Macoupin County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~3 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.
• Cap rate 18.7% vs local median 4.0% in Staunton — 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

• It's been on market 137 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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?
• 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.