214 S Railroad Ave

Buckley, IL 60918

$117,500C-

3 bd · 1.0 ba · 1,406 sqft · Built 1950 · SingleFamily · Active · 55 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,096/mo
• Mortgage (P&I): −$616
• Tax + insurance: −$194
• HOA: −$0
• Vac / Maint / Mgmt: −$230
• Net cashflow: $57/mo
• Annual: $678/yr
• Cap rate: 6.87%
• Cash-on-cash: 2.06%
• DSCR: 1.09
• 1% rule: 0.93%
• Cash to close: $32,900

Investor read

• This is a 3-bed/1.0-bath single-family listed at $118k.
• At list price, monthly cash flow is $57 ($678/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 $110k (6.7% below list).
• It's been on market 55 days — a 3% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $110k (6.7% below list) — sets the bar for 1% rule.
• In year one you build about $2k of equity ($812 loan paydown + $2k appreciation (1.4% local appreciation)).
• Location reads 62/100 on livability (#823 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D+, crime D+, amenities F.
• Paxton-Buckley-Loda CUD 10 (town): math 33% / reading 29% proficiency, ranked #232 of 620 in IL (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 3 active listings in the ZIP; 14 units permitted in Iroquois County in 2024 (0 in 5+ unit buildings).
• Iroquois County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 6 sale attempts since 29y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $95k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (1.4% appreciation + 3.0% rent growth), your $33k cash investment doubles in ~8 years — after that, you're playing with house money.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 55 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
• Built in 1950 — 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 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.