1210 E County Rd 2300

Niota, IL 62330

$149,000D-

4 bd · 2.5 ba · 2,673 sqft · Built 1922 · SingleFamily · Pending · 253 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,326/mo
• Mortgage (P&I): −$781
• Tax + insurance: −$281
• HOA: −$0
• Vac / Maint / Mgmt: −$278
• Net cashflow: $-15/mo
• Annual: $-185/yr
• Cap rate: 6.17%
• Cash-on-cash: -0.44%
• DSCR: 0.98
• 1% rule: 0.89%
• Cash to close: $41,720

Investor read

• This is a 4-bed/2.5-bath single-family listed at $149k.
• At list price, monthly cash flow is $-15 ($-185/yr) — negative.
• To cash-flow at today's rent, offer at most $146k (1.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $133k (11.0% below list).
• It's been on market 253 days — a 12% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $131k (12.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($1k loan paydown + $565 appreciation (0.4% local appreciation)).
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Nauvoo-Colusa CUSD 325 (rural): math 15% / reading 25% proficiency, ranked #713 of 919 in IL (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Watch-outs: built in 1922 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 17 active listings in the ZIP.
• Hancock County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts 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.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 253 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1922 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.