704 W Grant Hwy · Marengo, IL 60152

$195,999

2 bd · 1.0 ba · 1,100 sqft · SingleFamily · 26 Days on market

0.55 ac lot Est $202k · at est.

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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 +15.6/30.0
• ARV discount +8.9/15.0
• DSCR +4.8/10.0
• 1% rule +4.6/10.0
• Schools +4.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

LOCATION, LOCATION, LOCATION!!! Rare . 55 acre corner lot fronting Rt 20 and West Street (Rt 20 frontage of 198') on west end of Marengo. Excellent opportunity for future development with B2 zoning in immediate neighborhood ( NAPA and Prairie Community Bank) Presently an aged home with long term renters paying $1,000 rent. Property being sold AS IS, no exceptions. Adjacent . 6 acre property also for sale. 1.1 acre parcel if combined. ..

Key facts

• 0.55 acre lot
• Garage
• Listed 25 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $196k.

Deal economics

• At list price, monthly cash flow is $83 ($998/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 $189k (3.5% below list).
• Recommended offer: $189k (3.5% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 4.2% in Marengo — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 64/100 on livability (#708 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Marengo Chsd 154 (town): math 40% / reading 45% proficiency, ranked #240 of 919 in IL (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Locust Elem School (math 47% / reading 32%, grade F, #392 of 2,056 statewide, top 21%, 535 students, 0% FRL); Marengo Comm Middle School (math 25% / reading 31%, grade F, #284 of 665 statewide, top 44%, 307 students, 0% FRL); Marengo High School (math 37% / reading 37%, grade F, #107 of 693 statewide, top 17%, 685 students, 0% FRL).
• Market conditions: 64 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); 1,595 units permitted in McHenry County in 2024 (485 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• McHenry County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($193k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $128k; list at $196k implies a 54% gain — meaningful room to come down on a strong offer.

Recommended offer $189,047 (3.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 0.96% ✗
• Cap rate: 6.80%
• Cash-on-cash: 1.82%
• DSCR: 1.08
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $202,400
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
439 W Grant Hwy	0.20mi	2/2.0	1,200 (+9%)	0mo	$271,000	$226	71
740 Cherokee Trl	0.50mi	2/2.0	1,080 (-2%)	17mo	$58,000	$54	56
540 Navajo Trl	0.44mi	2/2.0	1,152 (+5%)	14mo	$87,000	$76	56
118 E Forest St	0.57mi	2/1.0	1,100 (0%)	22mo	$220,000	$200	55
847 Cayuga Trl	0.51mi	2/2.0	1,080 (-2%)	21mo	$93,000	$86	52
644 Mohawk Trl	0.47mi	2/2.0	1,152 (+5%)	19mo	$75,000	$65	50
212 E Vanburen St	0.64mi	3/1.0 (+1)	1,185 (+8%)	6mo	$217,500	$184	47
624 S State St	0.52mi	2/1.5	1,176 (+7%)	21mo	$218,500	$186	45
624 S State St	0.52mi	2/1.5	1,176 (+7%)	21mo	$218,500	$186	45
630 Mohawk Trl	0.50mi	2/2.0	1,236 (+12%)	12mo	$68,000	$55	42
208 N Taylor St	0.60mi	2/1.0	1,000 (-9%)	18mo	$197,000	$197	42
333 Elm St	0.73mi	2/1.0	1,016 (-8%)	15mo	$140,000	$138	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: -13.4%
• Equity multiple: 0.52×
• Total profit: $-26,399
• Equity at exit: $29,224

10-year hold

• IRR: -4.4%
• Equity multiple: 0.71×
• Total profit: $-15,911
• Equity at exit: $16,946

Cash invested: $54,880 (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 60152

• Home prices YoY: -22.7%
• Active inventory: 64
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,890 medium
• Mortgage (P&I): −$1,028
• Tax from tax record: −$301 /mo · $3,609/yr
• Insurance: −$82
• HOA: −$0
• Vacancy / Maint / Mgmt: −$397
• Net cashflow: $83

Break-even live

Break-even rent $1,785

Max offer price $195,999

Occupancy floor 91%

Sensitivity live

Price	-10% $194	-5% $139	+0% $83	+5% $28	+10% $-28
Rent	-10% $-66	-5% $9	+0% $83	+5% $158	+10% $233
Rate	-1.0pp $182	-0.5pp $133	base $83	+0.5pp $32	+1.0pp $-19

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: $49,000
• Closing costs: $5,880
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
479 Eisenhower St Unit A Marengo, IL	3.0	2.0	1300	$1,795	$1.38	0d	1	0.23mi
958 Partridge Cir Marengo, IL	2.0	2.0	1400	$2,195	$1.57	3d	1	1.33mi
739 Quail Ln Marengo, IL	2.0	2.5	1400	$2,195	$1.57	0d	1	1.39mi

Listing history 16 events

1. 2026-06-21
   days on market $195,999 Active 26 DOM
2. 2026-06-18
   days on market $195,999 Active 23 DOM
3. 2026-06-17
   pricedays on market $195,999 Active 22 DOM
4. 2026-06-16
   days on market $225,000 Active 21 DOM
5. 2026-06-15
   days on market $225,000 Active 20 DOM
6. 2026-06-13
   days on market $225,000 Active 18 DOM
7. 2026-06-13
   days on market $225,000 Active 17 DOM
8. 2026-06-09
   days on market $225,000 Active 14 DOM
9. 2026-06-08
   days on market $225,000 Active 13 DOM
10. 2026-06-07
    days on market $225,000 Active 12 DOM
11. 2026-06-04
    days on market $225,000 Active 9 DOM
12. 2026-06-03
    days on market $225,000 Active 8 DOM
13. 2026-06-02
    days on market $225,000 Active 7 DOM
14. 2026-06-01
    days on market $225,000 Active 6 DOM
15. 2026-05-31
    days on market $225,000 Active 5 DOM
16. 1993-02-19
    soldstatus $127,500

ⓘ 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: $3,609 · $301/mo
• Projected year-2 tax: $4,029 · $336/mo
• Expected delta: +$420/yr (+$35/mo · 11.6%)

ⓘ 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 2/10 Low 7 d/yr ≥102°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,686
• − Mortgage interest: −$10,979
• − Property taxes: −$3,609
• − Insurance: −$980
• − Repairs & maintenance: −$1,815
• − Management: −$1,815
• − Depreciation: −$5,702
• Taxable loss: −$2,214
• Est. tax savings @ 24.0%: +$531
• After-tax cash flow: $1,530/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: Marengo Chsd 154
• NCES district ID: 1724570
• Math proficiency: 40% ▼ -5.00%
• Reading proficiency: 45% ▲ 5.00%
• Median HH income: $65,606
• Composite: 40.37/100
• National rank: #7752
• State rank: #240 of 919 in IL

Livability — Marengo

• Score: 64/100
• State rank: #708
• US rank: #14374

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Marengo, IL
• Population (ZIP): 12,006

Population outlook (McHenry County) Hauer SSP2

• Today (2025): 305,342 people
• By 2030: 301,491 · -1.3%
• By 2040: 288,211 · -5.6%
• By 2050: 268,430 · -12.1%
• By 2075: 226,209 · -25.9%
• By 2100: 181,247 · -40.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 9% Two or more races 5%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Romanian 10% Portuguese 1% Italian 1%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 6% Russian/Polish/Slavic 1% German/W. Germanic 1%

Political lean MEDSL · McHenry

• 2024 margin: Lean R (+5.3) · D 46.6% · R 51.9% · Other 1.5%
• 2008→2024 swing: -10.6pp toward R · 2008: 5.3pp · 2024: -5.3pp
• All cycles: 2024: R+5.3 2020: R+2.5 2016: R+8.1 2012: R+8.8 2008: D+5.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -66.07%
• Current HPI: 224.4483
• 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

1 event — show timeline

• 1993-02-19 Sold (Public Records) $127,500 Public Records

Property tax history

-0.9%/yr

Latest (2024): $3,609 · +1.8% YoY. Source: county tax records.