62 Allie Cat Dr

Golconda, IL 62938

$29,000B

2 bd · 1.0 ba · 915 sqft · Built — · SingleFamily · Active · 112 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $861/mo
• Mortgage (P&I): −$152
• Tax + insurance: −$48
• HOA: −$0
• Vac / Maint / Mgmt: −$181
• Net cashflow: $480/mo
• Annual: $5,757/yr
• Cap rate: 26.15%
• Cash-on-cash: 70.90%
• DSCR: 4.15
• 1% rule: 2.97%
• Cash to close: $8,120

Investor read

• This is a 2-bed/1.0-bath single-family listed at $29k. Condition is rated poor.
• At list price, monthly cash flow is $480 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($861 rent vs $29k).
• It's been on market 112 days — a 9% lower offer ($26k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $26k (9.0% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($200 loan paydown + $928 appreciation (3.2% local appreciation)).
• Location reads 61/100 on livability (#920 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: schools F, amenities F, commute F.
• Pope County CUD 1 (rural): math 9% / reading 25% proficiency, ranked #492 of 620 in IL (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 13 active listings in the ZIP; 1 comparable units currently listed for rent nearby.
• Pope County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.2% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 112 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: Stairs leading to the front door — The stairs are damaged and need to be replaced to ensure safe access to the house.
• Major: Siding — The siding is weathered and needs to be replaced to improve the home's appearance and protect the structure.
• Major: Flooring — The carpeted flooring is in poor condition and needs to be replaced or refinished to improve the home's appearance and comfort.
• Major: Bathrooms — The bathrooms are outdated and need to be updated with modern fixtures and finishes to improve the home's value.
• Major: Roof — The roof is in poor condition and needs to be replaced to ensure the home's structural integrity and energy efficiency.
• Major: HVAC system — The HVAC system is outdated and may need to be replaced or updated to improve the home's comfort and energy efficiency.