100 N Weinland St

Cooksville, IL 61730

$115,000C-

3 bd · 1.0 ba · 1,100 sqft · Built 1952 · SingleFamily · Active · 211 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,138/mo
• Mortgage (P&I): −$603
• Tax + insurance: −$162
• HOA: −$0
• Vac / Maint / Mgmt: −$239
• Net cashflow: $134/mo
• Annual: $1,605/yr
• Cap rate: 7.69%
• Cash-on-cash: 4.99%
• DSCR: 1.22
• 1% rule: 0.99%
• Cash to close: $32,200

Investor read

• This is a 3-bed/1.0-bath single-family listed at $115k.
• At list price, monthly cash flow is $134 ($2k/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 $114k (1.0% below list).
• It's been on market 211 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $101k (12.0% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($795 loan paydown + $536 appreciation (0.5% local appreciation)).
• Location reads 59/100 on livability (#1,041 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime D+, amenities F, commute F.
• Ridgeview CUSD 19 (rural): math 13% / reading 13% proficiency, ranked #519 of 620 in IL (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Ridgeview Elementary School (math 12% / reading 17%, grade F, #1,278 of 2,056 statewide, top 65%, 236 students, 0% FRL); Ridgeview Jr High School (math 12% / reading 12%, grade F, #562 of 665 statewide, top 86%, 133 students, 0% FRL); Ridgeview High School (math 24% / reading 15%, grade F, #379 of 693 statewide, top 57%, 163 students, 0% FRL) — zoned schools average 0% FRL vs 37% district-wide (37 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 2 active listings in the ZIP; 247 units permitted in McLean County in 2024 (54 in 5+ unit buildings).
• 3 sale attempts; this cycle's ask is 28% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $84k; 37% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (0.5% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~8 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 211 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1952 — 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.
• 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.
• 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.