306 Country Ln

Belgium, IL 61883

$105,000D-

3 bd · 1.0 ba · 969 sqft · Built 1979 · Other · Pending · 2 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $995/mo
• Mortgage (P&I): −$551
• Tax + insurance: −$177
• HOA: −$0
• Vac / Maint / Mgmt: −$209
• Net cashflow: $59/mo
• Annual: $702/yr
• Cap rate: 6.96%
• Cash-on-cash: 2.39%
• DSCR: 1.11
• 1% rule: 0.95%
• Cash to close: $29,400

Investor read

• This is a 3-bed/1.0-bath other listed at $105k.
• At list price, monthly cash flow is $59 ($702/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $100k (5.2% below list).
• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $100k (5.2% below list) — sets the bar for 1% rule.
• In year one you build about $2k of equity ($726 loan paydown + $1k appreciation (1.0% local appreciation)).
• Location reads 57/100 on livability (#1,162 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools F, crime D-, amenities F.
• Westville CUSD 2 (suburban): math 8% / reading 9% proficiency, ranked #590 of 620 in IL (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 15 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 8 units permitted in Vermilion County in 2024 (0 in 5+ unit buildings).
• Vermilion County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $14k; list at $105k implies a 678% gain — meaningful room to come down on a strong offer.
• At projected returns (1.0% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~9 years — after that, you're playing with house money.

Questions for listing agent

• Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.