115 Rose Ln

Shipman, IL 62685

$129,900C

3 bd · 2.0 ba · 1,914 sqft · Built — · SingleFamily · Active · 37 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,217/mo
• Mortgage (P&I): −$681
• Tax + insurance: −$216
• HOA: −$0
• Vac / Maint / Mgmt: −$256
• Net cashflow: $64/mo
• Annual: $769/yr
• Cap rate: 6.88%
• Cash-on-cash: 2.11%
• DSCR: 1.09
• 1% rule: 0.94%
• Cash to close: $36,372

Investor read

• This is a 3-bed/2.0-bath single-family listed at $130k. Condition is rated poor.
• At list price, monthly cash flow is $64 ($769/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 $122k (6.3% below list).
• It's been on market 37 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $122k (6.3% below list) — sets the bar for 1% rule.
• In year one you build about $4k of equity ($898 loan paydown + $3k appreciation (2.7% local appreciation)).
• Location reads 55/100 on livability (#1,242 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime D-, amenities F, commute F.
• Southwestern CUSD 9 (rural): math 22% / reading 31% proficiency, ranked #276 of 620 in IL (top 44%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Brighton North Primary School (305 students, 0% FRL); Southwestern Middle School (math 22% / reading 37%, grade F, #256 of 665 statewide, top 41%, 189 students, 0% FRL); Southwestern High School (math 22% / reading 27%, grade F, #256 of 693 statewide, top 44%, 372 students, 0% FRL) — zoned schools average 0% FRL vs 30% district-wide (30 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 3 active listings in the ZIP; 70 units permitted in Macoupin County in 2024 (0 in 5+ unit buildings).
• Macoupin County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.7% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 37 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-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.
• 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.

Repairs flagged (vision-AI assessment)

• Major: kitchen cabinets — severely dated and worn
• Major: bathroom fixtures — outdated and in poor condition
• Major: roof — visible wear
• Major: exterior siding — weathered and peeling
• Major: flooring — dated and worn carpet
• Major: interior walls — dated paint and peeling