105 W Columbus St

Sibley, IL 61773

$55,000A-

3 bd · 1.0 ba · 890 sqft · Built 1946 · Other · Active · 37 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,066/mo
• Mortgage (P&I): −$288
• Tax + insurance: −$140
• HOA: −$0
• Vac / Maint / Mgmt: −$224
• Net cashflow: $413/mo
• Annual: $4,959/yr
• Cap rate: 15.31%
• Cash-on-cash: 32.20%
• DSCR: 2.43
• 1% rule: 1.94%
• Cash to close: $15,400

Investor read

• This is a 3-bed/1.0-bath other listed at $55k.
• At list price, monthly cash flow is $413 ($5k/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 37 days — a 3% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $53k (3.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($380 loan paydown + $2k appreciation (4.3% local appreciation)).
• Location reads 59/100 on livability (#1,053 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: employment C-, schools F, crime D-.
• Gibson City-Melvin-Sibley CUSD 5 (town): math 26% / reading 36% proficiency, ranked #242 of 620 in IL (top 39%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: property tax is 2.6% of price; built in 1946 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 2 active listings in the ZIP; 10 units permitted in Ford County in 2024 (0 in 5+ unit buildings).
• Ford County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.3% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1946 — 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?
• 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.