905 W D St

Belleville, IL 62220

$99,500F

2 bd · 2.0 ba · 540 sqft · Built 1892 · SingleFamily · Active · 16 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $913/mo
• Mortgage (P&I): −$522
• Tax + insurance: −$344
• HOA: −$0
• Vac / Maint / Mgmt: −$192
• Net cashflow: $-144/mo
• Annual: $-1,725/yr
• Cap rate: 4.56%
• Cash-on-cash: -6.19%
• DSCR: 0.72
• 1% rule: 0.92%
• Cash to close: $27,860

Investor read

• This is a 2-bed/2.0-bath single-family listed at $100k.
• At list price, monthly cash flow is $-144 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $74k (25.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $91k (8.2% below list).
• It's been on market 16 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $74k (25.5% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $688 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 78/100 on livability (#142 in IL, #2,604 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime F, amenities D-.
• Belleville Twp Hsd 201 (suburban): math 21% / reading 28% proficiency, ranked #308 of 620 in IL (top 50%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Franklin Elem School (math 12% / reading 12%, grade F, #1,403 of 2,056 statewide, top 71%, 145 students, 0% FRL); Central Jr High School (math 14% / reading 27%, grade F, #410 of 665 statewide, top 62%, 366 students, 0% FRL); Belleville High School-East (math 23% / reading 30%, grade F, #241 of 693 statewide, top 35%, 2,568 students, 0% FRL).
• Watch-outs: property tax is 3.6% of price; built in 1892 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+14.5%/yr); 149 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 783 units permitted in St. Clair County in 2024 (378 in 5+ unit buildings).
• St. Clair County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 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.
• This rent is only 17% of the median local income ($66k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• Built in 1892 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.