21904 US Hwy 24 Hwy

Liverpool, IL 61542

$55,000B

4 bd · 2.4 ba · 1,896 sqft · Built 1900 · Other · Active · 226 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,267/mo
• Mortgage (P&I): −$288
• Tax + insurance: −$92
• HOA: −$0
• Vac / Maint / Mgmt: −$266
• Net cashflow: $620/mo
• Annual: $7,445/yr
• Cap rate: 19.83%
• Cash-on-cash: 48.35%
• DSCR: 3.15
• 1% rule: 2.30%
• Cash to close: $15,400

Investor read

• This is a 4-bed/2.4-bath other listed at $55k.
• At list price, monthly cash flow is $620 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• It's been on market 226 days — a 12% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $48k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-2.0%/yr); year-one equity from $380 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 57/100 on livability (#1,148 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools F, crime F, amenities F.
• Lewistown CUSD 97 (rural): math 11% / reading 14% proficiency, ranked #546 of 620 in IL (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 22 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.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $14k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-2.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 226 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1900 — 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?
• 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.