212 W Sylvia Ave

Christopher, IL 62822

$35,000B+

3 bd · 1.0 ba · 1,040 sqft · Built 1925 · Other · Active · 122 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $757/mo
• Mortgage (P&I): −$184
• Tax + insurance: −$48
• HOA: −$0
• Vac / Maint / Mgmt: −$159
• Net cashflow: $366/mo
• Annual: $4,397/yr
• Cap rate: 18.86%
• Cash-on-cash: 44.87%
• DSCR: 3.00
• 1% rule: 2.16%
• Cash to close: $9,800

Investor read

• This is a 3-bed/1.0-bath other listed at $35k.
• At list price, monthly cash flow is $366 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($757 rent vs $35k).
• It's been on market 122 days — a 12% lower offer ($31k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $31k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $242 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 58/100 on livability (#1,100 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Christopher USD 99 (town): math 9% / reading 21% proficiency, ranked #520 of 620 in IL (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 17 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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.
• 7 sale attempts since 4y ago; this cycle's ask has dropped $4k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $9k; list at $35k implies a 289% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 122 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1925 — 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?
• 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.