500 E 12th St

Georgetown, IL 61846

$16,050C

2 bd · 1.0 ba · 1,674 sqft · Built 1900 · SingleFamily · Active · 13 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,131/mo
• Mortgage (P&I): −$84
• Tax + insurance: −$27
• HOA: −$0
• Vac / Maint / Mgmt: −$237
• Net cashflow: $782/mo
• Annual: $9,389/yr
• Cap rate: 64.79%
• Cash-on-cash: 208.93%
• DSCR: 10.30
• 1% rule: 7.05%
• Cash to close: $4,494

Investor read

• This is a 2-bed/1.0-bath single-family listed at $16k.
• At list price, monthly cash flow is $782 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $16k).
• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $2k of equity ($110 loan paydown + $2k appreciation (10.0% local appreciation)).
• Location reads 63/100 on livability (#783 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: employment D+, schools F, amenities F.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 2 comparable units currently listed for rent nearby; 8 units permitted in Vermilion County in 2024 (0 in 5+ unit buildings).
• Vermilion County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 2y 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 (10.0% appreciation + 3.0% rent growth), your $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Questions for listing agent

• Built in 1900 — 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?
• 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.