713 E Warren St

Bunker Hill, IL 62014

$129,900D

3 bd · 1.0 ba · 1,510 sqft · Built 1886 · SingleFamily · Active · 34 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,180/mo
• Mortgage (P&I): −$681
• Tax + insurance: −$192
• HOA: −$0
• Vac / Maint / Mgmt: −$248
• Net cashflow: $60/mo
• Annual: $716/yr
• Cap rate: 6.84%
• Cash-on-cash: 1.97%
• DSCR: 1.09
• 1% rule: 0.91%
• Cash to close: $36,372

Investor read

• This is a 3-bed/1.0-bath single-family listed at $130k.
• At list price, monthly cash flow is $60 ($716/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 $118k (9.1% below list).
• It's been on market 34 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $118k (9.1% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $898 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#732 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Bunker Hill CUSD 8 (rural): math 12% / reading 19% proficiency, ranked #489 of 620 in IL (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Bunker Hill High School (math 12% / reading 22%, grade F, #430 of 693 statewide, top 66%, 216 students, 0% FRL) — zoned schools average 0% FRL vs 35% district-wide (35 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1886 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 11 active listings in the ZIP; 70 units permitted in Macoupin County in 2024 (0 in 5+ unit buildings).
• Macoupin County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 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.
• Current owner paid $57k; list at $130k implies a 128% gain — meaningful room to come down on a strong offer.

Questions for listing agent

• It's been on market 34 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1886 — 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?
• 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.
• 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.