42 Hanson Dr · Bourbonnais, IL 60914

$187,000

3 bd · 1.0 ba · 1,340 sqft · Other · 90 Days on market

Built 1977 7,575 sqft lot

---

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 +13.7/30.0
• ARV discount +7.5/15.0
• 1% rule +4.9/10.0
• DSCR +4.1/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

HERE IT IS! GREAT and ROOMY HOME FOR THE PRICE!! 1304 Sq Ft, 3 Bedroom, 1 Bath Large Ranch in Belle Aire on a spacious corner lot. Freshly Painted, all New Wood Laminate Flooring in Family Room, Hallway and ALL Bedrooms. New Ceramic Tile in Kitchen and Bath. Central Air and New Hi Efficiency Windows. All this done in 2015! House being Sold As-IS. Buyer Responsible for all inspections. All you need to do is add some finishing touches to make it your own. Full Fenced Yard for Protecting your loved ones. This one Won't Last Long. Make your private appointment today.

Key facts

• Heated sunroom
• Storage shed
• Eat-in kitchen

Tags

• CORNER LOT
• HEATED SUNROOM
• FULLY FENCED BACKYARD
• STORAGE SHED
• EAT-IN KITCHEN

Property features AI

Finance

• Other: Living area measured by appraiser; Property not currently leased; Directions: Rt 45 to Hanson; home is on the corner of Hanson and Mid Court
• Financial info: Special service area: No
• HOA & community: No master association fee required; Neighborhood features include a park, curbs, sidewalks, street lights, and paved streets

Exterior

• Parking: Two parking spaces total; Asphalt driveway (owned)
• Security: Carbon monoxide detectors
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; One-story; Fee simple ownership; Built before 1978
• Construction: Vinyl siding; Asphalt roof; Concrete perimeter foundation; Estimated age: 41–50 years
• Exterior features: Fenced yard; Corner lot; 65 x 117 lot dimensions; Less than 0.25 acre; School bus service, commuter bus access, interstate access

Interior

• Kitchen: Range; Microwave; Dishwasher; Refrigerator; Eating area/table space
• Bedrooms: Three bedrooms total (all on the main level); Master bedroom on the main level
• Flooring: Laminate flooring throughout main living areas; Wood laminate in living room and bedrooms; Ceramic tile in kitchen; Carpet in family room
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas forced-air heating; Central air conditioning; Carbon monoxide detectors; Ceiling fan(s)
• Interior features: First-floor bedroom; First-floor full bathroom; Screens on windows; Seven total rooms
• Laundry & utility: Main-level laundry in a laundry closet; Washer and dryer included

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $187k.

Deal economics

• At list price, monthly cash flow is $14 ($172/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 $185k (1.1% below list).
• Recommended offer: $176k (6.0% below list) — sets the bar for market timing.
• Cap rate 6.4% vs local median 3.9% in Bourbonnais — 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 70/100 on livability (#362 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D, amenities F, commute F.
• Bradley Bourbonnais Chsd 307 (suburban): math 15% / reading 24% proficiency, ranked #413 of 620 in IL (top 67%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 86 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 145 units permitted in Kankakee County in 2024 (5 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.
• Kankakee County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 12y 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 $82k; list at $187k implies a 128% gain — meaningful room to come down on a strong offer.

Recommended offer $175,780 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 6.38%
• Cash-on-cash: 0.33%
• DSCR: 1.01
• 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: -15.7%
• Equity multiple: 0.44×
• Total profit: $-29,268
• Equity at exit: $27,882

10-year hold

• IRR: -7.1%
• Equity multiple: 0.55×
• Total profit: $-23,814
• Equity at exit: $16,168

Cash invested: $52,360 (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 60914

• Active inventory: 86
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,849 medium
• Mortgage (P&I): −$981
• Tax from tax record: −$388 /mo · $4,657/yr
• Insurance: −$78
• HOA: −$0
• Vacancy / Maint / Mgmt: −$388
• Net cashflow: $14

Break-even live

Break-even rent $1,831

Max offer price $187,000

Occupancy floor 94%

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: $46,750
• Closing costs: $5,610
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
227 Mohawk Dr Unit 227 Bourbonnais, IL	2.0	1.0	1000	$1,600	$1.60	11d	1	0.57mi
229 Steeplechase Cir #1 Bourbonnais, IL	2.0	2.0	1126	$1,850	$1.64	18d	1	0.92mi
495 W River St Bourbonnais, IL	4.0	2.0	1715	$2,300	$1.34	16d	1	1.40mi

Listing history 38 events

1. 2026-06-17
   status $187,000 Pending 90 DOM
2. 2026-06-17
   days on market $187,000 Contingent - Continue to Show 90 DOM
3. 2026-06-16
   days on market $187,000 Contingent - Continue to Show 89 DOM
4. 2026-06-15
   days on market $187,000 Contingent - Continue to Show 88 DOM
5. 2026-06-14
   days on market $187,000 Contingent - Continue to Show 86 DOM
6. 2026-06-13
   days on market $187,000 Contingent - Continue to Show 85 DOM
7. 2026-06-10
   days on market $187,000 Contingent - Continue to Show 83 DOM
8. 2026-06-09
   days on market $187,000 Contingent - Continue to Show 82 DOM
9. 2026-06-08
   days on market $187,000 Contingent - Continue to Show 81 DOM
10. 2026-06-07
    days on market $187,000 Contingent - Continue to Show 80 DOM
11. 2026-06-05
    days on market $187,000 Contingent - Continue to Show 77 DOM
12. 2026-06-02
    days on market $187,000 Contingent - Continue to Show 75 DOM
13. 2026-06-01
    days on market $187,000 Contingent - Continue to Show 74 DOM
14. 2026-05-31
    days on market $187,000 Contingent - Continue to Show 73 DOM
15. 2026-05-30
    days on market $187,000 Contingent - Continue to Show 72 DOM
16. 2026-05-23
    historical Contingent - Continue to Show
17. 2026-05-12
    status Active
18. 2026-05-05
    historical Contingent - Continue to Show
19. 2026-04-27
    status Active
20. 2026-03-31
    historical Contingent - Continue to Show
21. 2026-03-19
    historical
22. 2026-03-18
    listed $187,000 Active
23. 2026-03-18
    listed Active
24. 2018-09-05
    soldstatus $82,000
25. 2018-08-30
    soldstatus $82,000 Closed Sale 569-char remark

    Show marketing remark (569 chars)

    HERE IT IS! GREAT and ROOMY HOME FOR THE PRICE!! 1304 Sq Ft, 3 Bedroom, 1 Bath Large Ranch in Belle Aire on a spacious corner lot. Freshly Painted, all New Wood Laminate Flooring in Family Room, Hallway and ALL Bedrooms. New Ceramic Tile in Kitchen and Bath. Central Air and New Hi Efficiency Windows. All this done in 2015! House being Sold As-IS. Buyer Responsible for all inspections. All you need to do is add some finishing touches to make it your own. Full Fenced Yard for Protecting your loved ones. This one Won't Last Long. Make your private appointment today.

26. 2018-08-15
    status Pending 569-char remark

    Show marketing remark (569 chars)

    HERE IT IS! GREAT and ROOMY HOME FOR THE PRICE!! 1304 Sq Ft, 3 Bedroom, 1 Bath Large Ranch in Belle Aire on a spacious corner lot. Freshly Painted, all New Wood Laminate Flooring in Family Room, Hallway and ALL Bedrooms. New Ceramic Tile in Kitchen and Bath. Central Air and New Hi Efficiency Windows. All this done in 2015! House being Sold As-IS. Buyer Responsible for all inspections. All you need to do is add some finishing touches to make it your own. Full Fenced Yard for Protecting your loved ones. This one Won't Last Long. Make your private appointment today.

27. 2018-08-02
    price $97,900 569-char remark

    Show marketing remark (569 chars)

    HERE IT IS! GREAT and ROOMY HOME FOR THE PRICE!! 1304 Sq Ft, 3 Bedroom, 1 Bath Large Ranch in Belle Aire on a spacious corner lot. Freshly Painted, all New Wood Laminate Flooring in Family Room, Hallway and ALL Bedrooms. New Ceramic Tile in Kitchen and Bath. Central Air and New Hi Efficiency Windows. All this done in 2015! House being Sold As-IS. Buyer Responsible for all inspections. All you need to do is add some finishing touches to make it your own. Full Fenced Yard for Protecting your loved ones. This one Won't Last Long. Make your private appointment today.

28. 2018-05-07
    price $99,900 569-char remark

    Show marketing remark (569 chars)

    HERE IT IS! GREAT and ROOMY HOME FOR THE PRICE!! 1304 Sq Ft, 3 Bedroom, 1 Bath Large Ranch in Belle Aire on a spacious corner lot. Freshly Painted, all New Wood Laminate Flooring in Family Room, Hallway and ALL Bedrooms. New Ceramic Tile in Kitchen and Bath. Central Air and New Hi Efficiency Windows. All this done in 2015! House being Sold As-IS. Buyer Responsible for all inspections. All you need to do is add some finishing touches to make it your own. Full Fenced Yard for Protecting your loved ones. This one Won't Last Long. Make your private appointment today.

29. 2018-03-30
    listed $104,900 New 569-char remark

    Show marketing remark (569 chars)

    HERE IT IS! GREAT and ROOMY HOME FOR THE PRICE!! 1304 Sq Ft, 3 Bedroom, 1 Bath Large Ranch in Belle Aire on a spacious corner lot. Freshly Painted, all New Wood Laminate Flooring in Family Room, Hallway and ALL Bedrooms. New Ceramic Tile in Kitchen and Bath. Central Air and New Hi Efficiency Windows. All this done in 2015! House being Sold As-IS. Buyer Responsible for all inspections. All you need to do is add some finishing touches to make it your own. Full Fenced Yard for Protecting your loved ones. This one Won't Last Long. Make your private appointment today.

30. 2015-05-01
    soldstatus $65,000
31. 2015-02-20
    soldstatus $65,000 Closed Sale
32. 2015-01-15
    historical Contingent
33. 2014-12-05
    status Back On Market
34. 2014-12-02
    historical
35. 2014-08-16
    price $75,000 Price Change
36. 2014-08-06
    price $79,900 Price Change
37. 2014-07-11
    price $84,900 Price Change
38. 2014-06-05
    listed $89,900 New

ⓘ 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: $4,657 · $388/mo
• Projected year-2 tax: $4,657 · $388/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥104°F today · 16 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: $22,191
• − Mortgage interest: −$10,475
• − Property taxes: −$4,657
• − Insurance: −$935
• − Repairs & maintenance: −$1,775
• − Management: −$1,775
• − Depreciation: −$5,440
• Taxable loss: −$2,866
• Est. tax savings @ 24.0%: +$688
• After-tax cash flow: $859/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: Bradley Bourbonnais Chsd 307
• NCES district ID: 1706960
• Math proficiency: 15% ▼ -6.00%
• Reading proficiency: 24% ▼ -6.00%
• Median HH income: $59,302
• Composite: 18.35/100
• National rank: #8945
• State rank: #413 of 620 in IL

Livability — Bourbonnais

• Score: 70/100
• State rank: #362
• US rank: #7487

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bourbonnais, IL
• County: Kankakee County · 61,801 people
• City population: 28,673
• Metro: Kankakee, IL
• Population (ZIP): 28,673
• Household income: $86,223
• Rent vs Own: 27.0% rent · 73.0% own
• Severe rent burden: 590.0

Population outlook (Kankakee County) Hauer SSP2

• Today (2025): 105,479 people
• By 2030: 101,792 · -3.5%
• By 2040: 93,479 · -11.4%
• By 2050: 85,061 · -19.4%
• By 2075: 67,314 · -36.2%
• By 2100: 52,439 · -50.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Black 10% Hispanic / Latino 7% Two or more races 6% Asian 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Lithuanian 7% Romanian 6% Iranian 2%
• Foreign-born: 4% · Canada, South Korea
• Languages at home: 93% English-only · Spanish 4% Tagalog/Filipino 1%

Political lean MEDSL · Kankakee

• 2024 margin: Strong R (+20.8) · D 38.7% · R 59.5% · Other 1.8%
• 2008→2024 swing: -25.4pp toward R · 2008: 4.6pp · 2024: -20.8pp
• All cycles: 2024: R+20.8 2020: R+16.5 2016: R+13.3 2012: R+3.4 2008: D+4.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -106.62%
• Current HPI: 175.0777
• Rent YoY: —
• Metro: Kankakee, IL
• 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

+108.0% since first listed

23 events — show timeline

• 2026-05-23 Contingent — MRED as Distributed by MLS Grid
• 2026-05-12 Relisted — MRED as Distributed by MLS Grid
• 2026-05-05 Contingent — MRED as Distributed by MLS Grid
• 2026-04-27 Relisted — MRED as Distributed by MLS Grid
• 2026-03-31 Contingent — MRED as Distributed by MLS Grid
• 2026-03-19 Listing Removed — MRED as Distributed by MLS Grid
• 2026-03-18 Listed — MRED as Distributed by MLS Grid
• 2026-03-18 Listed $187,000 MRED as Distributed by MLS Grid
• 2018-09-05 Sold (Public Records) $82,000 Public Records
• 2018-08-30 Sold (MLS) $82,000 MRED as Distributed by MLS Grid
• 2018-08-15 Pending — MRED as Distributed by MLS Grid
• 2018-08-02 Price Changed $97,900 MRED as Distributed by MLS Grid
• 2018-05-07 Price Changed $99,900 MRED as Distributed by MLS Grid
• 2018-03-30 Listed $104,900 MRED as Distributed by MLS Grid
• 2015-05-01 Sold (Public Records) $65,000 Public Records
• 2015-02-20 Sold (MLS) $65,000 MRED as Distributed by MLS Grid
• 2015-01-15 Contingent — MRED as Distributed by MLS Grid
• 2014-12-05 Relisted — MRED as Distributed by MLS Grid
• 2014-12-02 Listing Removed — MRED as Distributed by MLS Grid
• 2014-08-16 Price Changed $75,000 MRED as Distributed by MLS Grid
• 2014-08-06 Price Changed $79,900 MRED as Distributed by MLS Grid
• 2014-07-11 Price Changed $84,900 MRED as Distributed by MLS Grid
• 2014-06-05 Listed $89,900 MRED as Distributed by MLS Grid

Property tax history

+10.3%/yr

Latest (2024): $4,657 · +8.7% YoY. Source: county tax records.