138 W 5th Ave

Woodhull, IL 61490

$36,400B+

3 bd · 1.0 ba · 1,008 sqft · Built 1976 · SingleFamily · Active · 27 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,006/mo
• Mortgage (P&I): −$191
• Tax + insurance: −$218
• HOA: −$0
• Vac / Maint / Mgmt: −$211
• Net cashflow: $387/mo
• Annual: $4,640/yr
• Cap rate: 20.87%
• Cash-on-cash: 52.07%
• DSCR: 3.32
• 1% rule: 2.77%
• Cash to close: $10,192

Investor read

• This is a 3-bed/1.0-bath single-family listed at $36k.
• At list price, monthly cash flow is $387 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $36k).
• It's been on market 27 days — a 2% lower offer ($36k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $36k (1.5% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($252 loan paydown + $2k appreciation (4.7% local appreciation)).
• Location reads 62/100 on livability (#841 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D+, amenities F, commute F.
• Alwood CUSD 225 (rural): math 20% / reading 45% proficiency, ranked #428 of 919 in IL (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: property tax is 4.8% of price; flood insurance adds $56/mo.
• Market conditions: 2 active listings in the ZIP; 32 units permitted in Henry County in 2024 (0 in 5+ unit buildings).
• Henry County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.7% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1976 — 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?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.