604 SW 8th St · Aledo, IL 61231

$139,900

3 bd · 2.0 ba · 1,776 sqft · SingleFamily · 2 Days on market

Built 1971 7,280 sqft lot Est $146k · 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 +14.9/30.0
• ARV discount +9.3/15.0
• 1% rule +4.6/10.0
• DSCR +4.6/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Check out this beautiful home! Walk into the open living, dining and kitchen, very light, airy and perfect for entertaining . The large master bedroom has a spacious walk in closet. Basement features large family room and 3rd non-conforming bedroom. Great outdoor space for entertaining features 2 tier deck and above ground pool, storage shed, and fenced yard . Appliances stay, as is . New roof in 2016. Staging by Out Of the Box Design !

Key facts

• 7,280 sq ft lot
• Garage
• Pool

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $41 ($487/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 $135k (3.6% below list).
• Recommended offer: $135k (3.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 69/100 on livability (#390 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Mercer County School District 404 (town): math 14% / reading 24% proficiency, ranked #439 of 620 in IL (top 71%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Apollo Elem School (math 17% / reading 17%, grade F, #1,141 of 2,056 statewide, top 59%, 335 students, 0% FRL); Mercer County Jr High School (math 17% / reading 29%, grade F, #377 of 665 statewide, top 58%, 299 students, 0% FRL); Mercer County High School (math 17% / reading 22%, grade F, #397 of 693 statewide, top 61%, 404 students, 0% FRL) — zoned schools average 0% FRL vs 37% district-wide (37 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 41 active listings in the ZIP; 15 units permitted in Mercer County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $967 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Mercer County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 11y ago; this cycle's ask is 33% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $100k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $134,807 (3.6% below list)

Questions for the listing agent

1. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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?
5. 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.
6. 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.
7. 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: 6.64%
• Cash-on-cash: 1.24%
• DSCR: 1.06
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $145,632
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
604 SW 8th St	0.00mi	3/2.0	1,776 (0%)	0mo	$145,000	$82	100
404 SW 10th St	0.17mi	4/2.0 (+1)	1,727 (-3%)	3mo	$232,000	$134	80
310 SW 5th Ave	0.30mi	3/2.0	1,805 (+2%)	20mo	$123,000	$68	66
404 S College Ave	0.42mi	4/2.5 (+1)	1,713 (-4%)	5mo	$204,000	$119	63
600 SW 7th St	0.07mi	2/2.0 (-1)	1,650 (-7%)	21mo	$97,595	$59	63
308 SE 4th St St	0.56mi	4/1.5 (+1)	1,790 (+1%)	6mo	$130,000	$73	61
301 Oakview Dr	0.43mi	4/2.5 (+1)	1,720 (-3%)	15mo	$290,000	$169	55
602 NW 6th St	0.72mi	3/2.0	1,633 (-8%)	19mo	$172,500	$106	37
605 NW 3rd St	0.57mi	2/1.5 (-1)	1,592 (-10%)	24mo	$130,000	$82	29
1103 W Main St	0.53mi	4/1.5 (+1)	2,040 (+15%)	18mo	$140,900	$69	28

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: -14.3%
• Equity multiple: 0.49×
• Total profit: $-20,027
• Equity at exit: $20,860

10-year hold

• IRR: -5.4%
• Equity multiple: 0.65×
• Total profit: $-13,883
• Equity at exit: $12,096

Cash invested: $39,172 (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 61231

• Home prices YoY: -33.0%
• Active inventory: 41
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,348 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$232 /mo · $2,789/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$283
• Net cashflow: $41

Break-even live

Break-even rent $1,297

Max offer price $139,900

Occupancy floor 92%

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-04-16
   status Pending
2. 2021-08-06
   historical
3. 2021-02-16
   soldstatus $100,000
4. 2021-02-11
   soldstatus $100,000 442-char remark

   Show marketing remark (442 chars)

   Check out this beautiful home! Walk into the open living, dining and kitchen, very light, airy and perfect for entertaining . The large master bedroom has a spacious walk in closet. Basement features large family room and 3rd non-conforming bedroom. Great outdoor space for entertaining features 2 tier deck and above ground pool, storage shed, and fenced yard . Appliances stay, as is . New roof in 2016. Staging by Out Of the Box Design !

5. 2021-02-11
   soldstatus $100,000 442-char remark

   Show marketing remark (442 chars)

   Check out this beautiful home! Walk into the open living, dining and kitchen, very light, airy and perfect for entertaining . The large master bedroom has a spacious walk in closet. Basement features large family room and 3rd non-conforming bedroom. Great outdoor space for entertaining features 2 tier deck and above ground pool, storage shed, and fenced yard . Appliances stay, as is . New roof in 2016. Staging by Out Of the Box Design !

6. 2020-12-04
   listed $105,000 442-char remark

   Show marketing remark (442 chars)

   Check out this beautiful home! Walk into the open living, dining and kitchen, very light, airy and perfect for entertaining . The large master bedroom has a spacious walk in closet. Basement features large family room and 3rd non-conforming bedroom. Great outdoor space for entertaining features 2 tier deck and above ground pool, storage shed, and fenced yard . Appliances stay, as is . New roof in 2016. Staging by Out Of the Box Design !

7. 2020-12-04
   listed $105,000 442-char remark

   Show marketing remark (442 chars)

   Check out this beautiful home! Walk into the open living, dining and kitchen, very light, airy and perfect for entertaining . The large master bedroom has a spacious walk in closet. Basement features large family room and 3rd non-conforming bedroom. Great outdoor space for entertaining features 2 tier deck and above ground pool, storage shed, and fenced yard . Appliances stay, as is . New roof in 2016. Staging by Out Of the Box Design !

8. 2016-02-25
   soldstatus $90,000
9. 2016-02-25
   soldstatus $90,000
10. 2015-10-01
    listed $95,000
11. 2015-10-01
    listed $95,000
12. 1998-06-30
    historical

ⓘ 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: $2,789 · $232/mo
• Projected year-2 tax: $2,982 · $249/mo
• Expected delta: +$193/yr (+$16/mo · 6.9%)

ⓘ 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 3/10 Moderate 7 d/yr ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,177
• − Mortgage interest: −$7,837
• − Property taxes: −$2,789
• − Insurance: −$700
• − Repairs & maintenance: −$1,294
• − Management: −$1,294
• − Depreciation: −$4,070
• Taxable loss: −$1,806
• Est. tax savings @ 24.0%: +$434
• After-tax cash flow: $921/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: Mercer County School District 404
• NCES district ID: 1701395
• Math proficiency: 14% ▼ -5.00%
• Reading proficiency: 24% ▼ -9.00%
• Median HH income: $46,980
• Composite: 16.76/100
• National rank: #9158
• State rank: #439 of 620 in IL

Livability — Aledo

• Score: 69/100
• State rank: #390
• US rank: #8198

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Aledo, IL
• Population (ZIP): 4,958

Population outlook (Mercer County) Hauer SSP2

• Today (2025): 14,595 people
• By 2030: 13,846 · -5.1%
• By 2040: 12,335 · -15.5%
• By 2050: 10,893 · -25.4%
• By 2075: 8,238 · -43.6%
• By 2100: 6,111 · -58.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 4% Two or more races 3% Black 1%
• Common ancestry: Lithuanian 2% Danish 2% Iranian 1%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · Spanish 3% Arabic 1%

Political lean MEDSL · Mercer

• 2024 margin: Strong R (+27.1) · D 35.4% · R 62.5% · Other 2.2%
• 2008→2024 swing: -39.0pp toward R · 2008: 11.9pp · 2024: -27.1pp
• All cycles: 2024: R+27.1 2020: R+24.0 2016: R+20.7 2012: D+7.4 2008: D+11.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -69.03%
• Current HPI: 140.0
• 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

+5.3% since first listed

12 events — show timeline

• 2026-04-16 Pending — MRED as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-02-16 Sold (Public Records) $100,000 Public Records
• 2021-02-11 Sold (MLS) $100,000 MRED as Distributed by MLS Grid
• 2021-02-11 Sold (MLS) $100,000 RMLSA as Distributed by MLS Grid
• 2020-12-04 Listed $105,000 MRED as Distributed by MLS Grid
• 2020-12-04 Listed $105,000 RMLSA as Distributed by MLS Grid
• 2016-02-25 Sold (MLS) $90,000 RMLSA as Distributed by MLS Grid
• 2016-02-25 Sold (MLS) $90,000 MRED as Distributed by MLS Grid
• 2015-10-01 Listed $95,000 RMLSA as Distributed by MLS Grid
• 2015-10-01 Listed $95,000 MRED as Distributed by MLS Grid
• 1998-06-30 Listing Removed — MRED as Distributed by MLS Grid

Property tax history

+1.6%/yr

Latest (2024): $2,789 · +120.1% YoY. Source: county tax records.