203 Poplar St

Edgewood, IL 62426

$80,000C+

1 bd · 2.0 ba · 1,248 sqft · Built 1985 · Other · Pending · 7 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $948/mo
• Mortgage (P&I): −$420
• Tax + insurance: −$210
• HOA: −$0
• Vac / Maint / Mgmt: −$199
• Net cashflow: $119/mo
• Annual: $1,429/yr
• Cap rate: 8.08%
• Cash-on-cash: 6.38%
• DSCR: 1.28
• 1% rule: 1.18%
• Cash to close: $22,400

Investor read

• This is a 1-bed/2.0-bath other listed at $80k.
• At list price, monthly cash flow is $119 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($948 rent vs $80k).
• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $5k of equity ($553 loan paydown + $5k appreciation (6.0% local appreciation)).
• Location reads 61/100 on livability (#941 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing B+; Watch: schools F, crime F, amenities F.
• Effingham CUSD 40 (town): math 18% / reading 26% proficiency, ranked #387 of 620 in IL (top 62%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Watch-outs: property tax is 2.7% of price.
• Market conditions: 3 active listings in the ZIP; 27 units permitted in Effingham County in 2024 (0 in 5+ unit buildings).
• Effingham County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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?
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.