603 English St

Jerseyville, IL 62052

$71,900B+

2 bd · 1.0 ba · 819 sqft · Built 1952 · SingleFamily · Active · 112 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $855/mo
• Mortgage (P&I): −$377
• Tax + insurance: −$126
• HOA: −$0
• Vac / Maint / Mgmt: −$180
• Net cashflow: $172/mo
• Annual: $2,068/yr
• Cap rate: 9.17%
• Cash-on-cash: 10.27%
• DSCR: 1.46
• 1% rule: 1.19%
• Cash to close: $20,132

Investor read

• This is a 2-bed/1.0-bath single-family listed at $72k.
• At list price, monthly cash flow is $172 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($855 rent vs $72k).
• It's been on market 112 days — a 9% lower offer ($65k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $65k (9.0% below list) — sets the bar for market timing.
• In year one you build about $8k of equity ($497 loan paydown + $7k appreciation (10.0% local appreciation)).
• Location reads 72/100 on livability (#327 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: health & safety C-, amenities D+, commute F.
• Jersey CUSD 100 (town): math 25% / reading 32% proficiency, ranked #260 of 620 in IL (top 42%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 90 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 101 units permitted in Jersey County in 2024 (68 in 5+ unit buildings).
• Jersey County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $30k; list at $72k implies a 140% gain — meaningful room to come down on a strong offer.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 9.2% vs local median 4.6% in Jerseyville — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• It's been on market 112 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1952 — 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.
• 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.