836 E Locust St · Watseka, IL 60970

$85,000

3 bd · 1.0 ba · 1,032 sqft · SingleFamily · 7 Days on market

Built 1950 9,520 sqft lot Est $87k · at est.

---

Why this score? — see what drove the B- 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 +27.0/30.0
• DSCR +9.4/10.0
• ARV discount +8.4/15.0
• 1% rule +6.4/10.0
• Appreciation +5.7/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0

Listing remarks

Cozy 3BR, 1 Bath home located outside the flood plain. Updated laminate flooring in LR, DR, and Master BR. Furnace, C/A, and Roof approx. 10 years old. Appliances are staying. Fenced backyard w/ 10x12 storage shed. 12x12 Deck w/ retractable sunshade. 1 Car att Garage.

Key facts

• Retractable sunshade
• Storage shed
• Deck

Tags

• FENCED BACKYARD
• STORAGE SHED
• DECK
• RETRACTABLE SUNSHADE

Property features AI

Finance

• Other: School bus service available; Zoning: Single-family; Lot dimensions approximately 80 x 119 (less than 0.25 acre); Directions: Rt to 8th St, South on 8th to Locust, Left on Locust to property
• HOA & community: No master association fee required

Exterior

• Parking: Attached garage with garage door opener (1 garage space, 1 total parking space)
• Utilities: Public water; Public sewer; 150 amp electric service with circuit breakers
• Home design: Detached single-family home; One story; Fee simple ownership; Built approximately 71–80 years ago; Built before 1978
• Construction: Aluminum siding; Asphalt roof
• Exterior features: Deck; Fenced yard

Interior

• Kitchen: Galley-style kitchen on the main level, vinyl flooring, approximately 8 x 18; Range; Microwave; Dishwasher; Refrigerator; Freezer
• Bedrooms: Three bedrooms (all on the main level); Master bedroom with laminate flooring, approximately 10 x 11; Bedroom 2 carpeted, approximately 8 x 11; Bedroom 3 approximately 8 x 10
• Flooring: Laminate flooring in living room, dining room, and master bedroom; Laminate in dining room (approximately 12 x 15); Carpet in one bedroom; Vinyl in kitchen
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas forced air heating; Central air conditioning
• Interior features: Six total rooms; Ceiling fan(s); CO detectors
• Laundry & utility: Laundry room; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $239 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($968 rent vs $85k).
• Cap rate 9.7% vs local median 3.5% in Watseka — 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 63/100 on livability (#811 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: schools D, amenities F, commute F.
• Iroquois County CUSD 9 (rural): math 18% / reading 35% proficiency, ranked #316 of 620 in IL (top 51%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 39 active listings in the ZIP; 14 units permitted in Iroquois County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($588 loan paydown + $1k appreciation (1.3% local appreciation)).
• Iroquois County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.3% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $85,000

Questions for the listing agent

1. Built in 1950 — 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. 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.
5. 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.
6. 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: 1.14% ✓
• Cap rate: 9.66%
• Cash-on-cash: 12.03%
• DSCR: 1.54
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $86,688
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
708 E Sycamore St	0.42mi	3/1.5	1,032 (0%)	2mo	$139,900	$136	77
538 E Mulberry St	0.25mi	2/1.0 (-1)	1,064 (+3%)	2mo	$85,000	$80	76
317 S 9th St	0.12mi	2/1.0 (-1)	980 (-5%)	19mo	$40,000	$41	65
428 E Cherry St	0.35mi	2/1.0 (-1)	940 (-9%)	3mo	$28,000	$30	62
317 S 4th St	0.62mi	2/1.0 (-1)	1,040 (+1%)	7mo	$119,900	$115	59
225 S Short St	0.24mi	2/1.0 (-1)	932 (-10%)	15mo	$94,900	$102	55
530 E Ash St	0.36mi	3/1.0	1,170 (+13%)	9mo	$85,900	$73	54
323 S 9th St	0.13mi	2/1.0 (-1)	910 (-12%)	21mo	$49,000	$54	52
530 E Locust St	0.26mi	3/1.5	1,152 (+12%)	20mo	$163,300	$142	50
714 E Sycamore St	0.42mi	2/1.5 (-1)	1,176 (+14%)	6mo	$99,000	$84	45
430 E Elm St	0.56mi	3/1.0	1,176 (+14%)	7mo	$85,500	$73	44
223 N 4th St	0.66mi	2/1.0 (-1)	1,065 (+3%)	23mo	$100,000	$94	40

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

Projected returns pro-forma

1.33% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.7%
• Equity multiple: 1.76×
• Total profit: $18,141
• Equity at exit: $30,486

10-year hold

• IRR: 17.8%
• Equity multiple: 3.22×
• Total profit: $52,953
• Equity at exit: $41,674

Cash invested: $23,800 (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 60970

• Home prices YoY: 0.9%
• Active inventory: 39
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $968 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$45 /mo · $539/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$203
• Net cashflow: $239

Break-even live

Break-even rent $666

Max offer price $85,000

Occupancy floor 70%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-18
   days on market $85,000 Active 7 DOM
2. 2026-06-17
   days on market $85,000 Active 6 DOM
3. 2026-06-16
   remarks 268-char remark
4. 2026-06-16
   listed $85,000 Active 5 DOM

ⓘ 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: $539 · $45/mo
• Projected year-2 tax: $1,234 · $103/mo
• Expected delta: +$695/yr (+$58/mo · 128.9%)

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $11,615
• − Mortgage interest: −$4,761
• − Property taxes: −$539
• − Insurance: −$425
• − Repairs & maintenance: −$929
• − Management: −$929
• − Depreciation: −$2,473
• Taxable income: $1,558
• Est. tax owed @ 24.0%: −$374
• After-tax cash flow: $2,489/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: Iroquois County CUSD 9
• NCES district ID: 1720170
• Math proficiency: 18% ▼ -12.00%
• Reading proficiency: 35% ▼ -8.00%
• Median HH income: $38,590
• Composite: 22.14/100
• National rank: #8171
• State rank: #316 of 620 in IL

Livability — Watseka

• Score: 63/100
• State rank: #811
• US rank: #15998

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Watseka, IL
• Population (ZIP): 5,965

Population outlook (Iroquois County) Hauer SSP2

• Today (2025): 26,826 people
• By 2030: 25,771 · -3.9%
• By 2040: 23,589 · -12.1%
• By 2050: 21,523 · -19.8%
• By 2075: 17,998 · -32.9%
• By 2100: 14,979 · -44.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 5% Hispanic / Latino 5% Asian 1%
• Common ancestry: Lithuanian 6% Iranian 3% Romanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2% Tagalog/Filipino 1%

Political lean MEDSL · Iroquois

• 2024 margin: Solid R (+57.3) · D 20.6% · R 78.0% · Other 1.4%
• 2008→2024 swing: -27.5pp toward R · 2008: -29.8pp · 2024: -57.3pp
• All cycles: 2024: R+57.3 2020: R+56.7 2016: R+56.0 2012: R+44.7 2008: R+29.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.33%
• Current HPI: 156.8
• 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

Property tax history

-0.6%/yr

Latest (2024): $539 · -57.4% YoY. Source: county tax records.