208 E 7th St Unit H

Georgetown, IL 61846

$33,900A-

3 bd · 1.0 ba · 1,900 sqft · Built 1930 · Other · Active · 125 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,100/mo
• Mortgage (P&I): −$178
• Tax + insurance: −$56
• HOA: −$0
• Vac / Maint / Mgmt: −$231
• Net cashflow: $635/mo
• Annual: $7,617/yr
• Cap rate: 28.76%
• Cash-on-cash: 80.24%
• DSCR: 4.57
• 1% rule: 3.24%
• Cash to close: $9,492

Investor read

• This is a 3-bed/1.0-bath other listed at $34k.
• At list price, monthly cash flow is $635 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $34k).
• It's been on market 125 days — a 12% lower offer ($30k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $30k (12.0% below list) — sets the bar for market timing.
• In year one you build about $4k of equity ($234 loan paydown + $3k 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+, amenities F, commute F.
• Zoned schools: Pine Crest Elementary School (math 8% / reading 22%, grade F, #1,259 of 2,056 statewide, top 62%, 415 students, 0% FRL); Mary Miller Junior High School (math 8% / reading 22%, grade F, #510 of 665 statewide, top 78%, 196 students, 0% FRL); Georgetown-Ridge Farm High School (math 15% / reading 5%, grade F, #528 of 693 statewide, top 82%, 259 students, 0% FRL).
• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 1 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.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $9k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 125 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 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.