131 Third St · Savanna, IL 61074

$29,000

5 bd · 1.5 ba · 1,748 sqft · Other public records · 9 Days on market

Built 1898 3,049 sqft lot ↓ 38% 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
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Large fixer upper home with room to roam with 5 bedrooms, one on main floor, Half bath main floor, one main floor room could use as utility room, mostly hardwood floors main level, formal dining room off kitchen, 1/2 bath, enclosed front porch, upper floor 4 bedrooms with master bedroom built-in dressers & closets, full bath, mostly all double pane window inserts, carport for off street parking, nice side yard, close to Main Street for shopping, river walk, and all downtown activities, this is a fixer upper w/ much potential. SELLING "AS IS"

Key facts

• Formal dining room
• Carport
• Side yard

Tags

• HARDWOOD FLOORS
• FORMAL DINING ROOM
• ENCLOSED FRONT PORCH
• DOUBLE PANE WINDOW INSERTS
• CARPORT
• SIDE YARD

Property features AI

Exterior

• Parking: Gravel parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; 2 stories
• Construction: Brick construction
• Exterior features: Shingle roof

Interior

• Kitchen: Electric cooktop; Refrigerator
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Electric cooktop; Refrigerator; Electric water heater; Full basement
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 5-bed/1.5-bath other listed at $29k.

Deal economics

• At list price, monthly cash flow is $929 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $29k).
• Cap rate 44.7% vs local median 6.4% in Savanna — 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 (#684 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, employment F.
• West Carroll CUSD 314 (rural): math 12% / reading 20% proficiency, ranked #498 of 620 in IL (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: West Carroll Primary (math 12% / reading 17%, grade F, #1,278 of 2,056 statewide, top 65%, 416 students, 0% FRL); West Carroll Middle School (math 10% / reading 24%, grade F, #460 of 665 statewide, top 72%, 193 students, 0% FRL); West Carroll High School (math 15% / reading 15%, grade F, #462 of 693 statewide, top 68%, 286 students, 0% FRL) — zoned schools average 0% FRL vs 50% district-wide (50 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 39 active listings in the ZIP; 23 units permitted in Carroll County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $200 of loan paydown is wiped out by about $870 of value loss. Plan a longer hold.
• Carroll County population projected at -30% 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 $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 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 $25k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1898 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $29,000

Questions for the listing agent

1. Built in 1898 — 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 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?
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: 4.93% ✓
• Cap rate: 44.75%
• Cash-on-cash: 137.34%
• DSCR: 7.11
• GRM: 1.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 7.71×
• Total profit: $54,511
• Equity at exit: $4,324

10-year hold

• IRR: —
• Equity multiple: 16.24×
• Total profit: $123,769
• Equity at exit: $2,507

Cash invested: $8,120 (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 61074

• Home prices YoY: -14.6%
• Active inventory: 39
• Price-to-rent: 1.7×

Monthly cashflow live

• Estimated rent: $1,430 medium
• Mortgage (P&I): −$152
• Tax est. 1.5%: −$36 /mo · $435/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $929

Break-even live

Break-even rent $254

Max offer price $29,000

Occupancy floor 30%

Sensitivity live

Price	-10% $949	-5% $939	+0% $929	+5% $919	+10% $909
Rent	-10% $816	-5% $873	+0% $929	+5% $986	+10% $1,042
Rate	-1.0pp $944	-0.5pp $937	base $929	+0.5pp $922	+1.0pp $914

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: $7,250
• Closing costs: $870
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-05-13
   status Pending 537-char remark

   Show marketing remark (561 chars)

   Large fixer upper home with room to roam with 5 bedrooms, one on main floor, Half bath main floor, one main floor room could use as utility room, mostly hardwood floors main level, formal dining room off kitchen, 1/2 bath, enclosed front porch, upper floor 4 bedrooms with master bedroom built-in dressers & closets, full bath, mostly all double pane window inserts, carport for off street parking, nice side yard, close to Main Street for shopping, river walk, and all downtown activities, this is a fixer upper w/ much potential. SELLING "AS IS"

2. 2026-05-13
   status Pending 561-char remark

   Show marketing remark (561 chars)

   Large fixer upper home with room to roam with 5 bedrooms, one on main floor, Half bath main floor, one main floor room could use as utility room, mostly hardwood floors main level, formal dining room off kitchen, 1/2 bath, enclosed front porch, upper floor 4 bedrooms with master bedroom built-in dressers & closets, full bath, mostly all double pane window inserts, carport for off street parking, nice side yard, close to Main Street for shopping, river walk, and all downtown activities, this is a fixer upper w/ much potential. SELLING "AS IS"

3. 2026-05-04
   listed $29,000 Active 537-char remark

   Show marketing remark (561 chars)

   Large fixer upper home with room to roam with 5 bedrooms, one on main floor, Half bath main floor, one main floor room could use as utility room, mostly hardwood floors main level, formal dining room off kitchen, 1/2 bath, enclosed front porch, upper floor 4 bedrooms with master bedroom built-in dressers & closets, full bath, mostly all double pane window inserts, carport for off street parking, nice side yard, close to Main Street for shopping, river walk, and all downtown activities, this is a fixer upper w/ much potential. SELLING "AS IS"

4. 2026-05-04
   listed $29,000 Active 561-char remark

   Show marketing remark (561 chars)

   Large fixer upper home with room to roam with 5 bedrooms, one on main floor, Half bath main floor, one main floor room could use as utility room, mostly hardwood floors main level, formal dining room off kitchen, 1/2 bath, enclosed front porch, upper floor 4 bedrooms with master bedroom built-in dressers & closets, full bath, mostly all double pane window inserts, carport for off street parking, nice side yard, close to Main Street for shopping, river walk, and all downtown activities, this is a fixer upper w/ much potential. SELLING "AS IS"

5. 2003-11-10
   soldstatus $40,000

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 17 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: $17,160
• − Mortgage interest: −$1,624
• − Property taxes: −$435
• − Insurance: −$145
• − Repairs & maintenance: −$1,373
• − Management: −$1,373
• − Depreciation: −$844
• Taxable income: $11,367
• Est. tax owed @ 24.0%: −$2,728
• After-tax cash flow: $8,424/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: West Carroll CUSD 314
• NCES district ID: 1700310
• Math proficiency: 12% ▼ -5.00%
• Reading proficiency: 20% ▼ -3.00%
• Median HH income: $43,090
• Composite: 13.91/100
• National rank: #9483
• State rank: #498 of 620 in IL

Livability — Savanna

• Score: 64/100
• State rank: #684
• US rank: #13971

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Savanna, IL
• Population (ZIP): 4,009

Population outlook (Carroll County) Hauer SSP2

• Today (2025): 13,010 people
• By 2030: 12,150 · -6.6%
• By 2040: 10,462 · -19.6%
• By 2050: 9,078 · -30.2%
• By 2075: 6,704 · -48.5%
• By 2100: 5,004 · -61.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 6% Two or more races 5%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Iranian 5% Romanian 3% Slovak 2%
• Foreign-born: 2% · Canada, Jamaica
• Languages at home: 96% English-only · Spanish 3% German/W. Germanic 1%

Political lean MEDSL · Carroll

• 2024 margin: Solid R (+31.7) · D 33.2% · R 64.8% · Other 2.0%
• 2008→2024 swing: -36.5pp toward R · 2008: 4.8pp · 2024: -31.7pp
• All cycles: 2024: R+31.7 2020: R+29.4 2016: R+27.1 2012: D+1.4 2008: D+4.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -24.68%
• Current HPI: 144.9327
• 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

-37.5% since first listed

7 events — show timeline

• 2026-06-12 Sold (MLS) $25,000 MRED as Distributed by MLS Grid
• 2026-06-12 Sold (MLS) $25,000 NWIAR
• 2026-05-13 Pending — NWIAR
• 2026-05-13 Pending — MRED as Distributed by MLS Grid
• 2026-05-04 Listed $29,000 MRED as Distributed by MLS Grid
• 2026-05-04 Listed $29,000 NWIAR
• 2003-11-10 Sold (Public Records) $40,000 Public Records

Property tax history

+0.4%/yr

Latest (2024): $1,894 · +8.0% YoY. Source: county tax records.