211 S West St

Cambridge, IL 61238

$93,500A

4 bd · 1.0 ba · 1,732 sqft · Built 1907 · SingleFamily · Active · 37 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,481/mo
• Mortgage (P&I): −$490
• Tax + insurance: −$310
• HOA: −$0
• Vac / Maint / Mgmt: −$311
• Net cashflow: $370/mo
• Annual: $4,436/yr
• Cap rate: 11.04%
• Cash-on-cash: 16.94%
• DSCR: 1.75
• 1% rule: 1.58%
• Cash to close: $26,180

Investor read

• This is a 4-bed/1.0-bath single-family listed at $94k.
• At list price, monthly cash flow is $370 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $94k).
• It's been on market 37 days — a 3% lower offer ($91k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $91k (3.0% below list) — sets the bar for market timing.
• In year one you build about $8k of equity ($646 loan paydown + $8k appreciation (8.3% local appreciation)).
• Location reads 66/100 on livability (#584 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Cambridge CUSD 227 (rural): math 28% / reading 37% proficiency, ranked #215 of 620 in IL (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: property tax is 3.5% of price; built in 1907 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 15 active listings in the ZIP; 32 units permitted in Henry County in 2024 (0 in 5+ unit buildings).
• Henry County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 11 sale attempts since 21y ago; this cycle's ask has dropped $16k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (8.3% appreciation + 3.0% rent growth), your $26k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$38k 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 3% concession, seller financing, or rate buy-down credit?
• Built in 1907 — 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.
• 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?
• 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.