410 N Ewing St

Tallula, IL 62688

$99,900C-

2 bd · 1.0 ba · 1,200 sqft · Built 1953 · SingleFamily · Pending · 9 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,034/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$104
• HOA: −$0
• Vac / Maint / Mgmt: −$217
• Net cashflow: $189/mo
• Annual: $2,270/yr
• Cap rate: 8.56%
• Cash-on-cash: 8.11%
• DSCR: 1.36
• 1% rule: 1.03%
• Cash to close: $27,972

Investor read

• This is a 2-bed/1.0-bath single-family listed at $100k.
• At list price, monthly cash flow is $189 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $3k of equity ($691 loan paydown + $2k appreciation (2.1% local appreciation)).
• Location reads 58/100 on livability (#1,099 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime D, amenities F, commute F.
• Porta CUSD 202 (town): math 16% / reading 29% proficiency, ranked #363 of 620 in IL (top 58%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Petersburg Elem School (345 students, 0% FRL); Porta High School (math 22% / reading 32%, grade F, #218 of 693 statewide, top 35%, 428 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.
• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 4 active listings in the ZIP; 9 units permitted in Menard County in 2024 (0 in 5+ unit buildings).
• Menard County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.1% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~5 years — after that, you're playing with house money.

Questions for listing agent

• Built in 1953 — 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.