415 S Park St

Sesser, IL 62884

$32,900B

3 bd · 1.0 ba · 896 sqft · Built 1920 · SingleFamily · Active · 183 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $890/mo
• Mortgage (P&I): −$173
• Tax + insurance: −$118
• HOA: −$0
• Vac / Maint / Mgmt: −$187
• Net cashflow: $412/mo
• Annual: $4,949/yr
• Cap rate: 21.34%
• Cash-on-cash: 53.73%
• DSCR: 3.39
• 1% rule: 2.71%
• Cash to close: $9,212

Investor read

• This is a 3-bed/1.0-bath single-family listed at $33k.
• At list price, monthly cash flow is $412 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($890 rent vs $33k).
• It's been on market 183 days — a 12% lower offer ($29k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $29k (12.0% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($227 loan paydown + $1k appreciation (3.9% local appreciation)).
• Location reads 64/100 on livability (#722 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, schools F, amenities F.
• Sesser-Valier CUSD 196 (rural): math 21% / reading 24% proficiency, ranked #389 of 620 in IL (top 63%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Watch-outs: property tax is 3.8% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 13 active listings in the ZIP; 17 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).
• Franklin County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.9% appreciation + 3.0% rent growth), your $9k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 183 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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.