26 Elk Ct · Washington, IL 61571

$248,000

3 bd · 3.0 ba · 1,194 sqft · SingleFamily public records · 1 Days on market

Built 2003 6,969 sqft lot

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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 +15.5/30.0
• ARV discount +7.5/15.0
• 1% rule +4.9/10.0
• DSCR +4.8/10.0
• Schools +3.8/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Immaculate, well maintained, 2 bedroom, 3 full bath, zero lot line ranch home in highly desirable Deer Ridge Estates at the end of a Cul-de-sac. This beautifully landscaped, open concept home features stunning cathedral ceilings with skylights, gas log fireplace, main floor laundry, master bedroom with a full bath and walk-in closet, 2 car attached heated garage with lots of storage, whole house generator and a full basement that is partially finished with the potential for a 3rd bedroom. Call for your private showing today!

Key facts

• Landscaped
• Open concept
• Zero lot line

Tags

• ZERO LOT LINE
• CUL-DE-SAC
• LANDSCAPED
• OPEN CONCEPT
• CATHEDRAL CEILINGS
• SKYLIGHTS

Property features AI

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water; Public sewer; Gas water heater; Electric service (standard)
• Home design: Single family residence; Built in 2003; Property attached: yes
• Construction: Shingle roof; Year built: 2003; Finished full basement with egress window(s)
• Exterior features: Level lot; Paved road access; Shingle roof; Lot dimensions approximately 61 x 111

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Refrigerator
• Bedrooms: Three bedrooms (one on main level, one on main level, one in basement)
• Flooring: Carpet in bedrooms, living and family rooms; Tile in dining room and kitchen; Vinyl in laundry room
• Bathrooms: Three full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating; High-efficiency heating; High-efficiency water heater
• Interior features: Cable available; Ceiling fans; High-speed internet; Gas log fireplace in the living room; Finished full basement with egress windows
• Laundry & utility: Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $248k.

Deal economics

• At list price, monthly cash flow is $98 ($1k/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 $245k (1.1% below list).
• Recommended offer: $245k (1.1% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 3.2% in Washington — 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 73/100 on livability (#272 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety F.
• Washington Chsd 308 (suburban): math 42% / reading 42% proficiency, ranked #112 of 620 in IL (top 18%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Washington Comm High School (math 42% / reading 42%, grade F, #76 of 693 statewide, top 12%, 1,484 students, 0% FRL).
• Market conditions: 129 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 77 units permitted in Tazewell County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Tazewell County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 23y ago 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 $167k; 49% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $245,212 (1.1% 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: 0.99% ✗
• Cap rate: 6.77%
• Cash-on-cash: 1.69%
• DSCR: 1.08
• GRM: 8.4

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: -13.6%
• Equity multiple: 0.51×
• Total profit: $-33,853
• Equity at exit: $36,978

10-year hold

• IRR: -4.6%
• Equity multiple: 0.70×
• Total profit: $-21,006
• Equity at exit: $21,443

Cash invested: $69,440 (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 61571

• Active inventory: 129
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $2,452 medium
• Mortgage (P&I): −$1,301
• Tax from tax record: −$436 /mo · $5,228/yr
• Insurance: −$103
• HOA: −$0
• Vacancy / Maint / Mgmt: −$515
• Net cashflow: $98

Break-even live

Break-even rent $2,329

Max offer price $248,000

Occupancy floor 91%

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: $62,000
• Closing costs: $7,440
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
704 Debates St Washington, IL	3.0	2.0	1319	$2,750	$2.08	13d	1	1.04mi
713 Stephanie Ct Washington, IL	3.0	2.0	1319	$2,750	$2.08	21d	1	1.11mi
700 Debates St Washington, IL	3.0	2.0	1319	$2,750	$2.08	13d	1	1.21mi
1910 Canterbury Dr Washington, IL	2.0	1.0	850	$950	$1.12	13d	1	1.48mi

Listing history 12 events

1. 2026-05-25
   listed $248,000 Active
2. 2020-09-15
   soldstatus $167,000
3. 2020-09-09
   soldstatus $167,000 530-char remark

   Show marketing remark (530 chars)

   Immaculate, well maintained, 2 bedroom, 3 full bath, zero lot line ranch home in highly desirable Deer Ridge Estates at the end of a Cul-de-sac. This beautifully landscaped, open concept home features stunning cathedral ceilings with skylights, gas log fireplace, main floor laundry, master bedroom with a full bath and walk-in closet, 2 car attached heated garage with lots of storage, whole house generator and a full basement that is partially finished with the potential for a 3rd bedroom. Call for your private showing today!

4. 2020-09-09
   soldstatus $167,000 530-char remark

   Show marketing remark (530 chars)

   Immaculate, well maintained, 2 bedroom, 3 full bath, zero lot line ranch home in highly desirable Deer Ridge Estates at the end of a Cul-de-sac. This beautifully landscaped, open concept home features stunning cathedral ceilings with skylights, gas log fireplace, main floor laundry, master bedroom with a full bath and walk-in closet, 2 car attached heated garage with lots of storage, whole house generator and a full basement that is partially finished with the potential for a 3rd bedroom. Call for your private showing today!

5. 2020-06-24
   listed $172,000 530-char remark

   Show marketing remark (530 chars)

   Immaculate, well maintained, 2 bedroom, 3 full bath, zero lot line ranch home in highly desirable Deer Ridge Estates at the end of a Cul-de-sac. This beautifully landscaped, open concept home features stunning cathedral ceilings with skylights, gas log fireplace, main floor laundry, master bedroom with a full bath and walk-in closet, 2 car attached heated garage with lots of storage, whole house generator and a full basement that is partially finished with the potential for a 3rd bedroom. Call for your private showing today!

6. 2020-06-24
   listed $172,000 530-char remark

   Show marketing remark (530 chars)

   Immaculate, well maintained, 2 bedroom, 3 full bath, zero lot line ranch home in highly desirable Deer Ridge Estates at the end of a Cul-de-sac. This beautifully landscaped, open concept home features stunning cathedral ceilings with skylights, gas log fireplace, main floor laundry, master bedroom with a full bath and walk-in closet, 2 car attached heated garage with lots of storage, whole house generator and a full basement that is partially finished with the potential for a 3rd bedroom. Call for your private showing today!

7. 2013-12-02
   soldstatus $170,000
8. 2013-11-26
   soldstatus $169,900 395-char remark

   Show marketing remark (395 chars)

   THINKING OF DOWNSIZING A LITTLE? IMMACULATE ZERO-LOT LINE DUPLEX WITH 2BRS, 3 FULL BATHS & FULL BSMT THAT IS PARTIALLY FINISHED* MAIN FLOOR NEWLY CARPETED AND FRESHLY PAINTED* HUGE STORAGE CLOSET IN BSMT PLUS POTENTIAL 3RD BD* HEATED GARAGE FEATURES LOTS OF STORAGE CABINETS* PATIO OFF DINING AREA WITH PRIVACY FENCE* NICE LOT AND EASY ACCESS TO WASHINGTON BY-PASS* GREAT PLACE TO CALL HOME*

9. 2013-10-10
   listed $169,900 395-char remark

   Show marketing remark (395 chars)

   THINKING OF DOWNSIZING A LITTLE? IMMACULATE ZERO-LOT LINE DUPLEX WITH 2BRS, 3 FULL BATHS & FULL BSMT THAT IS PARTIALLY FINISHED* MAIN FLOOR NEWLY CARPETED AND FRESHLY PAINTED* HUGE STORAGE CLOSET IN BSMT PLUS POTENTIAL 3RD BD* HEATED GARAGE FEATURES LOTS OF STORAGE CABINETS* PATIO OFF DINING AREA WITH PRIVACY FENCE* NICE LOT AND EASY ACCESS TO WASHINGTON BY-PASS* GREAT PLACE TO CALL HOME*

10. 2003-11-18
    soldstatus $150,500
11. 2003-11-14
    soldstatus $150,400
12. 2003-07-24
    listed $151,900

ⓘ 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: $5,228 · $436/mo
• Projected year-2 tax: $5,429 · $452/mo
• Expected delta: +$201/yr (+$17/mo · 3.8%)

ⓘ 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 ≥104°F today · 18 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: $29,425
• − Mortgage interest: −$13,892
• − Property taxes: −$5,228
• − Insurance: −$1,240
• − Repairs & maintenance: −$2,354
• − Management: −$2,354
• − Depreciation: −$7,215
• Taxable loss: −$2,857
• Est. tax savings @ 24.0%: +$686
• After-tax cash flow: $1,857/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: Washington Chsd 308
• NCES district ID: 1740980
• Math proficiency: 42% ▬ 0.00%
• Reading proficiency: 42% ▼ -2.00%
• Median HH income: $66,029
• Composite: 37.69/100
• National rank: #4361
• State rank: #112 of 620 in IL

Livability — Washington

• Score: 73/100
• State rank: #272
• US rank: #5136

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Washington, IL
• City population: 24,544
• Population (ZIP): 24,544

Population outlook (Tazewell County) Hauer SSP2

• Today (2025): 131,252 people
• By 2030: 128,028 · -2.5%
• By 2040: 120,443 · -8.2%
• By 2050: 111,872 · -14.8%
• By 2075: 89,843 · -31.5%
• By 2100: 66,468 · -49.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 3% Two or more races 3% Asian 1%
• Common ancestry: Lithuanian 4% Italian 3% Iranian 2%
• Foreign-born: 2% · Canada, China
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Tazewell

• 2024 margin: Strong R (+26.7) · D 35.8% · R 62.5% · Other 1.8%
• 2008→2024 swing: -20.6pp toward R · 2008: -6.0pp · 2024: -26.7pp
• All cycles: 2024: R+26.7 2020: R+25.6 2016: R+28.5 2012: R+17.9 2008: R+6.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -135.85%
• Current HPI: 149.5627
• 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

+63.3% since first listed

12 events — show timeline

• 2026-05-25 Listed $248,000 RMLSA as Distributed by MLS Grid
• 2020-09-15 Sold (Public Records) $167,000 Public Records
• 2020-09-09 Sold (MLS) $167,000 MRED as Distributed by MLS Grid
• 2020-09-09 Sold (MLS) $167,000 RMLSA as Distributed by MLS Grid
• 2020-06-24 Listed $172,000 MRED as Distributed by MLS Grid
• 2020-06-24 Listed $172,000 RMLSA as Distributed by MLS Grid
• 2013-12-02 Sold (Public Records) $170,000 Public Records
• 2013-11-26 Sold (MLS) $169,900 RMLSA as Distributed by MLS Grid
• 2013-10-10 Listed $169,900 RMLSA as Distributed by MLS Grid
• 2003-11-18 Sold (Public Records) $150,500 Public Records
• 2003-11-14 Sold (MLS) $150,400 RMLSA as Distributed by MLS Grid
• 2003-07-24 Listed $151,900 RMLSA as Distributed by MLS Grid

Property tax history

+2.8%/yr

Latest (2024): $5,228 · +5.8% YoY. Source: county tax records.