1020 Krause Ave · Willisville, IL 62997

$25,000

3 bd · 1.0 ba · 1,423 sqft · SingleFamily · 84 Days on market

Built 1920 $18/sqft · 65% below area ↓ 17% since listing

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Why this score? — see what drove the D+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Appreciation +5.0/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0

Listing remarks MLS

Handyman special sitting on a nice sized lot. There are 2 rooms with working wall gas heaters. It needs a new roof and guttering. All utilities are turned off. After remodeling and updating the interior, this will be a very nice place to live. The grounds leave enough room to add a garage, play/entertainment area and a garden. It just takes your imagination. The motivated seller has priced this property to move quickly, being sold in 'AS IS' condition and to make no repairs. Take a look and see for yourself. Seller has positioned caution tape at the basement entrance due to that roof damage.

Key facts

• Garden
• Add a garage
• Guttering

Tags

• NEW ROOF
• GUTTERING
• ADD A GARAGE
• PLAY ENTERTAINMENT AREA
• GARDEN

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $25k.

Deal economics

• At list price, monthly cash flow is $729 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).
• Recommended offer: $24k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 56/100 on livability (#1,197 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: employment D, schools F, crime F.
• Trico CUSD 176 (rural): math 12% / reading 23% proficiency, ranked #467 of 620 in IL (top 75%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 4 active listings in the ZIP; 20 units permitted in Perry County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $923 of equity ($173 loan paydown + $750 appreciation (3.0% local appreciation)).
• Perry County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 84 days — a 6% lower offer ($24k) is reasonable based on typical stale-listing flexibility.
• 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.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $23,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 84 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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.

Investment metrics

• 1% rule: 4.68% ✓
• Cap rate: 41.29%
• Cash-on-cash: 125.00%
• DSCR: 6.56
• GRM: 1.8

CMA / ARV

• ARV (median comp): $70,827
• List price: $25,000
• Delta: -64.70%
• Verdict: UNDERPRICED
• Comps: 12 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
904 W Park St	0.28mi	2/1.0 (-1)	1,259 (-12%)	9mo	$52,900	$42	55
202 Broadway	0.51mi	3/2.0	1,600 (+12%)	13mo	$85,000	$53	41

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 8.07×
• Total profit: $49,484
• Equity at exit: $11,241

10-year hold

• IRR: —
• Equity multiple: 16.87×
• Total profit: $111,119
• Equity at exit: $17,324

Cash invested: $7,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 43 Moderately Tenant-Leaning
• State Illinois: 43 Moderately Tenant-Leaning · D+7
• County: — inherits STATE
• City: — inherits STATE

Chicago RTLO is among the strongest tenant ordinances in the Midwest; downstate is more landlord-friendly.

Methodology + full state rankings →

ZIP-level market 62997

• Active inventory: 4
• Price-to-rent: 1.8×

Monthly cashflow live

• Estimated rent: $1,169 medium
• Mortgage (P&I): −$131
• Tax from tax record: −$53 /mo · $632/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $729

Break-even live

Break-even rent $246

Max offer price $25,000

Occupancy floor 33%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $25,000 Active 84 DOM
2. 2026-06-17
   days on market $25,000 Active 83 DOM
3. 2026-06-16
   days on market $25,000 Active 82 DOM
4. 2026-06-15
   days on market $25,000 Active 81 DOM
5. 2026-06-13
   days on market $25,000 Active 79 DOM
6. 2026-06-12
   days on market $25,000 Active 78 DOM
7. 2026-06-09
   days on market $25,000 Active 75 DOM
8. 2026-06-08
   days on market $25,000 Active 74 DOM
9. 2026-06-07
   days on market $25,000 Active 73 DOM
10. 2026-06-05
    days on market $25,000 Active 71 DOM
11. 2026-06-04
    days on market $25,000 Active 69 DOM
12. 2026-06-02
    days on market $25,000 Active 68 DOM
13. 2026-06-01
    days on market $25,000 Active 67 DOM
14. 2026-05-31
    days on market $25,000 Active 66 DOM
15. 2026-05-31
    days on market $25,000 Active 65 DOM
16. 2026-03-26
    listed $25,000 Active 600-char remark

    Show marketing remark (600 chars)

    Handyman special sitting on a nice sized lot. There are 2 rooms with working wall gas heaters. It needs a new roof and guttering. All utilities are turned off. After remodeling and updating the interior, this will be a very nice place to live. The grounds leave enough room to add a garage, play/entertainment area and a garden. It just takes your imagination. The motivated seller has priced this property to move quickly, being sold in 'AS IS' condition and to make no repairs. Take a look and see for yourself. Seller has positioned caution tape at the basement entrance due to that roof damage.

17. 2025-08-16
    listed $30,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast IL · Partial reset (capped growth)

• Current annual tax: $632 · $53/mo
• Projected year-2 tax: $632 · $53/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥107°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,026
• − Mortgage interest: −$1,400
• − Property taxes: −$632
• − Insurance: −$125
• − Repairs & maintenance: −$1,122
• − Management: −$1,122
• − Depreciation: −$727
• Taxable income: $8,897
• Est. tax owed @ 24.0%: −$2,135
• After-tax cash flow: $6,615/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Trico CUSD 176
• NCES district ID: 1708250
• Math proficiency: 12% ▼ -8.00%
• Reading proficiency: 23% ▼ -12.00%
• Median HH income: $46,653
• Composite: 15.48/100
• National rank: #9309
• State rank: #467 of 620 in IL

Livability — Willisville

• Score: 56/100
• State rank: #1197
• US rank: #22580

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment D Housing A+ Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Willisville, IL
• City population: 562
• Population (ZIP): 562

Population outlook (Perry County) Hauer SSP2

• Today (2025): 19,868 people
• By 2030: 19,131 · -3.7%
• By 2040: 17,720 · -10.8%
• By 2050: 16,057 · -19.2%
• By 2075: 11,979 · -39.7%
• By 2100: 8,434 · -57.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 11% Two or more races 4%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Lithuanian 4% English 1%
• Foreign-born: 5% · Canada
• Languages at home: 93% English-only · Spanish 6%

Political lean MEDSL · Perry

• 2024 margin: Solid R (+52.0) · D 23.2% · R 75.2% · Other 1.6%
• 2008→2024 swing: -48.1pp toward R · 2008: -3.9pp · 2024: -52.0pp
• All cycles: 2024: R+52.0 2020: R+46.7 2016: R+45.1 2012: R+17.7 2008: R+3.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.59%
• F500 in state: 60

Industry mix (Fortune 500 HQ in IL)

Industry	F500 HQs	Revenue
▸Insurance	4	$201B
▸Consumer Goods	4	$87B
▸Industrial Machinery	3	$64B
▸Healthcare	2	$55B
▸Retail / Pharmacy	1	$148B
▸Agriculture / Food	1	$86B

Price history

-16.7% since first listed

2 events — show timeline

• 2026-03-26 Listed $25,000 MARIS as Distributed by MLS Grid
• 2025-08-16 Listed $30,000 MARIS as Distributed by MLS Grid

Property tax history

+0.2%/yr

Latest (2024): $632 · +8.2% YoY. Source: county tax records.