9032 US Route 150

Oakwood, IL 61858

$115,000C

3 bd · 2.0 ba · 1,522 sqft · Built — · SingleFamily · Active · 55 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,139/mo
• Mortgage (P&I): −$603
• Tax + insurance: −$300
• HOA: −$0
• Vac / Maint / Mgmt: −$239
• Net cashflow: $-4/mo
• Annual: $-43/yr
• Cap rate: 6.26%
• Cash-on-cash: -0.13%
• DSCR: 0.99
• 1% rule: 0.99%
• Cash to close: $32,200

Investor read

• This is a 3-bed/2.0-bath single-family listed at $115k.
• At list price, monthly cash flow is $-4 ($-43/yr) — negative.
• To cash-flow at today's rent, offer at most $114k (0.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $114k (0.9% below list).
• It's been on market 55 days — a 3% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $112k (3.0% below list) — sets the bar for market timing.
• In year one you build about $10k of equity ($795 loan paydown + $10k appreciation (8.3% local appreciation)).
• Location reads 59/100 on livability (#1,056 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: employment D+, crime D-, amenities F.
• Oakwood CUSD 76 (rural): math 12% / reading 19% proficiency, ranked #495 of 620 in IL (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Oakwood Grade School (math 9% / reading 13%, grade F, #1,460 of 2,056 statewide, top 72%, 581 students, 0% FRL); Oakwood Junior High School (math 12% / reading 32%); Oakwood High School (math 17% / reading 17%, grade F, #430 of 693 statewide, top 66%, 286 students, 0% FRL) — zoned schools average 0% FRL vs 37% district-wide (37 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: property tax is 2.6% of price.
• Market conditions: 15 active listings in the ZIP; 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.
• Current owner paid $85k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (8.3% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 55 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• 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 D 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.