519 E Allen St

Farmer City, IL 61842

$152,000C-

4 bd · 1.0 ba · 1,740 sqft · Built 1893 · SingleFamily · Active · 17 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,489/mo
• Mortgage (P&I): −$797
• Tax + insurance: −$292
• HOA: −$0
• Vac / Maint / Mgmt: −$313
• Net cashflow: $87/mo
• Annual: $1,045/yr
• Cap rate: 6.98%
• Cash-on-cash: 2.46%
• DSCR: 1.11
• 1% rule: 0.98%
• Cash to close: $42,560

Investor read

• This is a 4-bed/1.0-bath single-family listed at $152k.
• At list price, monthly cash flow is $87 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $149k (2.0% below list).
• It's been on market 17 days — a 2% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $149k (2.0% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 60/100 on livability (#950 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B; Watch: schools D+, amenities F, commute F.
• Blue Ridge CUSD 18 (rural): math 20% / reading 24% proficiency, ranked #370 of 620 in IL (top 60%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Watch-outs: built in 1893 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 18 active listings in the ZIP; 14 units permitted in De Witt County in 2024 (0 in 5+ unit buildings).
• De Witt County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 13y 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.
• Current owner paid $88k; list at $152k implies a 74% gain — meaningful room to come down on a strong offer.

Questions for listing agent

• Built in 1893 — 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 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?
• 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.