109 W Willow St

Sorento, IL 62086

$48,000B

2 bd · 1.0 ba · 728 sqft · Built 1930 · SingleFamily · Active · 210 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $829/mo
• Mortgage (P&I): −$252
• Tax + insurance: −$144
• HOA: −$0
• Vac / Maint / Mgmt: −$174
• Net cashflow: $259/mo
• Annual: $3,112/yr
• Cap rate: 12.78%
• Cash-on-cash: 23.15%
• DSCR: 2.03
• 1% rule: 1.73%
• Cash to close: $13,440

Investor read

• This is a 2-bed/1.0-bath single-family listed at $48k.
• At list price, monthly cash flow is $259 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($829 rent vs $48k).
• It's been on market 210 days — a 12% lower offer ($42k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $42k (12.0% below list) — sets the bar for market timing.
• In year one you build about $5k of equity ($332 loan paydown + $4k appreciation (9.2% local appreciation)).
• Location reads 46/100 on livability (#1,351 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: crime F, amenities F, commute F.
• Bond County CUSD 2 (town): math 35% / reading 41% proficiency, ranked #345 of 919 in IL (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Greenville Elem School (math 24% / reading 24%, grade F, #850 of 2,056 statewide, top 45%, 531 students, 0% FRL); Greenville Jr High School (math 24% / reading 24%, grade F, #332 of 665 statewide, top 55%, 300 students, 0% FRL); Bond Cty Comm Unit 2 High School (math 32% / reading 27%, grade F, #187 of 693 statewide, top 30%, 504 students, 0% FRL) — zoned schools average 0% FRL vs 42% district-wide (42 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: property tax is 3.1% of price; built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 7 active listings in the ZIP; 35 units permitted in Bond County in 2024 (0 in 5+ unit buildings).
• Bond County population projected at -23% 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.
• Current owner paid $32k; list at $48k implies a 50% gain — meaningful room to come down on a strong offer.
• At projected returns (9.2% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 210 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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 F 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.