6090 Public Rd

Boody, IL 62544

$60,000B

2 bd · 1.0 ba · 896 sqft · Built 1910 · Other · Active · 83 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $873/mo
• Mortgage (P&I): −$315
• Tax + insurance: −$160
• HOA: −$0
• Vac / Maint / Mgmt: −$183
• Net cashflow: $216/mo
• Annual: $2,590/yr
• Cap rate: 10.61%
• Cash-on-cash: 15.41%
• DSCR: 1.69
• 1% rule: 1.46%
• Cash to close: $16,800

Investor read

• This is a 2-bed/1.0-bath other listed at $60k.
• At list price, monthly cash flow is $216 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($873 rent vs $60k).
• It's been on market 83 days — a 6% lower offer ($56k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $56k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $415 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 60/100 on livability (#953 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D+, employment D, schools F.
• Meridian CUSD 15 (rural): math 21% / reading 25% proficiency, ranked #353 of 620 in IL (top 57%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Watch-outs: property tax is 2.7% of price; built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 31 active listings in the ZIP; 63 units permitted in Macon County in 2024 (0 in 5+ unit buildings).
• Macon County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~8 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 83 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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.