112 E Market St

Yates City, IL 61572

$104,000B

3 bd · 1.0 ba · 1,480 sqft · Built 1960 · SingleFamily · Active · 13 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,220/mo
• Mortgage (P&I): −$545
• Tax + insurance: −$208
• HOA: −$0
• Vac / Maint / Mgmt: −$256
• Net cashflow: $210/mo
• Annual: $2,518/yr
• Cap rate: 8.71%
• Cash-on-cash: 8.65%
• DSCR: 1.38
• 1% rule: 1.17%
• Cash to close: $29,120

Investor read

• This is a 3-bed/1.0-bath single-family listed at $104k.
• At list price, monthly cash flow is $210 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $104k).
• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $9k of equity ($719 loan paydown + $8k appreciation (7.8% local appreciation)).
• Location reads 60/100 on livability (#949 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, crime D, amenities F.
• Farmington Central CUSD 265 (rural): math 23% / reading 29% proficiency, ranked #293 of 620 in IL (top 47%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Farmington Central Elem Sch (math 25% / reading 23%, grade F, #922 of 2,056 statewide, top 45%, 622 students, 0% FRL); Farmington Central Jr High Sch (math 24% / reading 36%, grade F, #246 of 665 statewide, top 38%, 262 students, 0% FRL); Farmington Central High Sch (math 17% / reading 17%, grade F, #430 of 693 statewide, top 66%, 375 students, 0% FRL) — zoned schools average 0% FRL vs 32% district-wide (32 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 7 active listings in the ZIP.
• Knox County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (7.8% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Built in 1960 — 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 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?
• 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.