110 IL Route 1 Hwy

Cave-In-Rock, IL 62919

$79,900B

4 bd · 1.0 ba · 2,015 sqft · Built 1920 · SingleFamily · Under Contract · 38 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,294/mo
• Mortgage (P&I): −$419
• Tax + insurance: −$133
• HOA: −$0
• Vac / Maint / Mgmt: −$272
• Net cashflow: $470/mo
• Annual: $5,643/yr
• Cap rate: 13.36%
• Cash-on-cash: 25.22%
• DSCR: 2.12
• 1% rule: 1.62%
• Cash to close: $22,372

Investor read

• This is a 4-bed/1.0-bath single-family listed at $80k. Condition is rated fair.
• At list price, monthly cash flow is $470 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• It's been on market 38 days — a 3% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $78k (3.0% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($552 loan paydown + $689 appreciation (0.9% local appreciation)).
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Hardin County CUSD 1 (rural): math 7% / reading 17% proficiency, ranked #564 of 620 in IL (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Hardin County High School (math 5% / reading 24%, grade F, #473 of 693 statewide, top 69%, 161 students, 0% FRL) — zoned schools average 0% FRL vs 52% district-wide (52 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 6 active listings in the ZIP.
• Hardin County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.9% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~4 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.

Questions for listing agent

• It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1920 — 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.
• 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.

Repairs flagged (vision-AI assessment)

• Major: kitchen cabinets — severe wear and tear
• Major: bathroom fixtures — dated and worn
• Major: interior walls — peeling paint and wallpaper
• Minor: landscaping — overgrown areas need trimming