16 Knight Ln

Westville, IL 61883

$133,000C-

4 bd · 3.0 ba · 1,959 sqft · Built 1987 · SingleFamily · Pending · 44 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,339/mo
• Mortgage (P&I): −$697
• Tax + insurance: −$392
• HOA: −$0
• Vac / Maint / Mgmt: −$281
• Net cashflow: $-32/mo
• Annual: $-384/yr
• Cap rate: 6.00%
• Cash-on-cash: -1.03%
• DSCR: 0.95
• 1% rule: 1.01%
• Cash to close: $37,240

Investor read

• This is a 4-bed/3.0-bath single-family listed at $133k.
• At list price, monthly cash flow is $-32 ($-384/yr) — negative.
• To cash-flow at today's rent, offer at most $127k (4.2% below list).
• Meets the 1% rule at list price ($1k rent vs $133k).
• It's been on market 44 days — a 3% lower offer ($129k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $127k (4.2% below list) — sets the bar for cash-flow.
• In year one you build about $2k of equity ($920 loan paydown + $1k appreciation (1.0% local appreciation)).
• Location reads 69/100 on livability (#404 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, amenities F, commute F.
• Westville CUSD 2 (suburban): math 8% / reading 9% proficiency, ranked #590 of 620 in IL (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Judith Giacoma Elem School (math 8% / reading 9%, grade F, #1,617 of 2,056 statewide, top 79%, 671 students, 0% FRL); Westville Jr High School (math 8% / reading 8%, grade F, #612 of 665 statewide, top 93%, 177 students, 0% FRL); Westville High School (math 8% / reading 8%, grade F, #589 of 693 statewide, top 86%, 350 students, 0% FRL) — zoned schools average 0% FRL vs 54% district-wide (54 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: property tax is 3.0% of price.
• Market conditions: 15 active listings in the ZIP; 8 units permitted in Vermilion County in 2024 (0 in 5+ unit buildings).
• Vermilion County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

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?
• It's been on market 44 days. Have you received any prior offers? Is the seller open to a 4% concession, seller financing, or rate buy-down credit?
• 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.