300 W Borton St

Creal Springs, IL 62922

$40,000B-

2 bd · 1.0 ba · 2,457 sqft · Built 1930 · SingleFamily · Active · 85 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,057/mo
• Mortgage (P&I): −$210
• Tax + insurance: −$67
• HOA: −$0
• Vac / Maint / Mgmt: −$222
• Net cashflow: $558/mo
• Annual: $6,699/yr
• Cap rate: 23.04%
• Cash-on-cash: 59.81%
• DSCR: 3.66
• 1% rule: 2.64%
• Cash to close: $11,200

Investor read

• This is a 2-bed/1.0-bath single-family listed at $40k. Condition is rated fair.
• At list price, monthly cash flow is $558 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• It's been on market 85 days — a 6% lower offer ($38k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $38k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $277 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 55/100 on livability (#1,243 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools F, crime F, amenities F.
• Marion CUSD 2 (urban): math 20% / reading 31% proficiency, ranked #317 of 620 in IL (top 51%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 28 active listings in the ZIP; 130 units permitted in Williamson County in 2024 (5 in 5+ unit buildings).
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 85 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1930 — 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.

Repairs flagged (vision-AI assessment)

• Major: roof — Significant wear and tear.
• Major: siding — Peeling and chipping paint.
• Major: flooring — Worn and may need replacement.
• Major: HVAC system — Old and may need replacement.
• Major: landscaping — Overgrown and needs trimming and planting.