None bd · None ba ·
— sqft ·
Built 1898
· Condo
· Active
· 46 DOM
Cashflow @ list (25.0% down · 7.5%)
Estimated rent
$719/mo
Mortgage (P&I)
−$288
Tax + insurance
−$92
HOA
−$0
Vac / Maint / Mgmt
−$151
Net cashflow
$188/mo
Annual
$2,261/yr
Cap rate
10.41%
Cash-on-cash
14.71%
DSCR
1.65
1% rule
1.31%
Cash to close
$15,372
Investor read
This is a condo listed at $55k.
At list price, monthly cash flow is $188 ($2k/yr) — positive.
The deal already cash-flows at list — no discount required.
Meets the 1% rule at list price ($719 rent vs $55k).
It's been on market 46 days — a 3% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
Recommended offer: $53k (3.0% below list) — sets the bar for market timing.
Local home prices are declining (-3.0%/yr); year-one equity from $380 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
Location reads 70/100 on livability (#375 in IL) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, cost of living A+; Watch: housing C-, crime F, employment F.
Carbondale Chsd 165 (urban): math 26% / reading 35% proficiency, ranked #279 of 620 in IL (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
Zoned schools: Carbondale Comm H S (math 26% / reading 35%, grade F, #175 of 693 statewide, top 26%, 997 students, 0% FRL).
Watch-outs: built in 1898 — expect roof / HVAC / electrical / plumbing capex.
Market conditions: Rents rising fast (+4.5%/yr); 202 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 5 units permitted in Jackson County in 2024 (0 in 5+ unit buildings).
4 sale attempts since 2y 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.
At projected returns (-3.0% appreciation + 4.5% rent growth), your $15k cash investment doubles in ~8 years — after that, you're playing with house money.
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.
Cap rate 10.4% vs local median 4.9% in Carbondale — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.
Questions for listing agent
It's been on market 46 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
Built in 1898 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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 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?
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.
CashFlowRE · CFR-XW2ZGZ2N7XVZ5G
· Data 3 weeks agocashflowre.app · 2026-05-29