230 E South St

Astoria, IL 61501

$29,900A-

2 bd · 1.0 ba · 1,320 sqft · Built — · SingleFamily · Active · 23 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,065/mo
• Mortgage (P&I): −$157
• Tax + insurance: −$50
• HOA: −$0
• Vac / Maint / Mgmt: −$224
• Net cashflow: $635/mo
• Annual: $7,619/yr
• Cap rate: 31.78%
• Cash-on-cash: 91.01%
• DSCR: 5.05
• 1% rule: 3.56%
• Cash to close: $8,372

Investor read

• This is a 2-bed/1.0-bath single-family listed at $30k. Condition is rated fair.
• 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 $30k).
• It's been on market 23 days — a 2% lower offer ($29k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $29k (1.5% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($207 loan paydown + $816 appreciation (2.7% local appreciation)).
• Location reads 61/100 on livability (#904 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, housing A; Watch: amenities F, commute F, employment F.
• Astoria CUSD 1 (rural): math 6% / reading 30% proficiency, ranked #739 of 919 in IL (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Astoria Elem School (math 15% / reading 24%, grade F, #1,043 of 2,056 statewide, top 51%, 130 students, 0% FRL); Astoria Junior High School (math 2% / reading 22%, grade F, #550 of 665 statewide, top 84%, 67 students, 0% FRL); Astoria High School (math 10% / reading 30%, grade F, #357 of 693 statewide, top 54%, 73 students, 0% FRL) — zoned schools average 0% FRL vs 45% district-wide (45 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 11 active listings in the ZIP; 14 units permitted in Fulton County in 2024 (0 in 5+ unit buildings).
• Fulton County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.7% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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.

Repairs flagged (vision-AI assessment)

• Moderate: Siding — Weathered and discolored
• Minor: Roof — Aged but appears structurally sound
• Minor: Landscaping — Overgrown and needs trimming
• Minor: Electrical panel — Old and may need upgrading
• Moderate: Flooring — Worn and could benefit from refinishing or replacement
• Minor: Bathroom fixtures — Could use updates in terms of finishes