109 S Lakeview Ave · Kewanee, IL 61443

$29,900

4 bd · 1.0 ba · 1,414 sqft · SingleFamily public records · 21 Days on market

Built 1900 6,098 sqft lot $21/sqft · 48% below area Est $49k · 39% under

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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 +15.0/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located near Kewanee High School, this 4-bedroom, 1-bath home offers plenty of room and potential for buyers looking for space, convenience, and opportunity. The property features a 2-car attached garage for added functionality, along with alley access that provides additional convenience and flexibility. Inside, the home offers a practical layout with a large pantry area for extra storage and organization, and a rear porch that creates additional outdoor living space perfect for relaxing or entertaining. The basement includes walk-out access, adding to the home's versatility for storage, workspace, or future possibilities. The home is being sold as-is, with no guarantees on the condition of mechanical systems, and the seller will make no repairs. Whether you're looking for your next project or a property with solid potential, this home offers plenty of possibilities.

Key facts

• 6,098 sq ft lot
• 2 garage spots
• Built 1900

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $30k.

Deal economics

• At list price, monthly cash flow is $759 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• Recommended offer: $29k (1.5% below list) — sets the bar for market timing.
• Cap rate 39.0% vs local median 8.6% in Kewanee — 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 69/100 on livability (#409 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: schools F, crime D-, amenities F.
• Kewanee CUSD 229 (town): math 8% / reading 20% proficiency, ranked #540 of 620 in IL (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 39 active listings in the ZIP; 32 units permitted in Henry County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $207 of loan paydown is wiped out by about $897 of value loss. Plan a longer hold.
• Henry County population projected at -16% 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

• It's been on market 21 days — a 2% lower offer ($29k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; flood insurance adds $56/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $29,451 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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?
8. 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.
9. 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.
10. 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: 4.47% ✓
• Cap rate: 38.97%
• Cash-on-cash: 116.70%
• DSCR: 6.19
• GRM: 1.9

CMA / ARV

• ARV (median comp): $48,788
• List price: $29,900
• Delta: -38.71%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
109 S Lakeview Ave	0.00mi	4/1.0	1,210 (-14%)	1mo	$24,750	$20	75
328 E Prospect St	0.47mi	3/1.0 (-1)	1,443 (+2%)	2mo	$110,000	$76	68
522 E 5th St	0.43mi	3/1.0 (-1)	1,508 (+7%)	1mo	$111,000	$74	63
708 Williams St	0.53mi	3/1.0 (-1)	1,429 (+1%)	13mo	$81,000	$57	58
405 Mckinley Ave	0.53mi	3/1.5 (-1)	1,500 (+6%)	8mo	$155,000	$103	51
613 Roosevelt Ave	0.51mi	3/1.5 (-1)	1,560 (+10%)	6mo	$150,000	$96	47
301 E Oak St	0.47mi	4/1.5	1,577 (+12%)	16mo	$155,000	$98	44
114 Roosevelt Avenue A	0.71mi	3/1.5 (-1)	1,352 (-4%)	13mo	$114,500	$85	42
510 E 9th St	0.74mi	3/2.0 (-1)	1,391 (-2%)	15mo	$60,000	$43	41
115 Roosevelt Ave	0.72mi	4/1.5	1,562 (+10%)	8mo	$15,000	$10	40
312 E Division St	0.71mi	3/1.0 (-1)	1,248 (-12%)	4mo	$55,000	$44	39
612 N Burr St	0.68mi	4/1.0	1,221 (-14%)	10mo	$55,000	$45	37

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: —
• Equity multiple: 6.20×
• Total profit: $43,550
• Equity at exit: $4,458

10-year hold

• IRR: —
• Equity multiple: 13.00×
• Total profit: $100,449
• Equity at exit: $2,585

Cash invested: $8,372 (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 61443

• Active inventory: 39
• Price-to-rent: 1.9×

Monthly cashflow live

• Estimated rent: $1,336 medium
• Mortgage (P&I): −$157
• Tax from tax record: −$72 /mo · $860/yr
• Insurance: −$12
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$280
• Net cashflow: $759

Break-even live

Break-even rent $375

Max offer price $29,900

Occupancy floor 38%

Sensitivity live

Price	-10% $776	-5% $767	+0% $759	+5% $750	+10% $742
Rent	-10% $653	-5% $706	+0% $759	+5% $811	+10% $864
Rate	-1.0pp $774	-0.5pp $766	base $759	+0.5pp $751	+1.0pp $743

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: $7,475
• Closing costs: $897
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-13
   status Pending 880-char remark

   Show marketing remark (880 chars)

   Located near Kewanee High School, this 4-bedroom, 1-bath home offers plenty of room and potential for buyers looking for space, convenience, and opportunity. The property features a 2-car attached garage for added functionality, along with alley access that provides additional convenience and flexibility. Inside, the home offers a practical layout with a large pantry area for extra storage and organization, and a rear porch that creates additional outdoor living space perfect for relaxing or entertaining. The basement includes walk-out access, adding to the home's versatility for storage, workspace, or future possibilities. The home is being sold as-is, with no guarantees on the condition of mechanical systems, and the seller will make no repairs. Whether you're looking for your next project or a property with solid potential, this home offers plenty of possibilities.

2. 2026-04-21
   listed $29,900 Active 880-char remark

   Show marketing remark (880 chars)

   Located near Kewanee High School, this 4-bedroom, 1-bath home offers plenty of room and potential for buyers looking for space, convenience, and opportunity. The property features a 2-car attached garage for added functionality, along with alley access that provides additional convenience and flexibility. Inside, the home offers a practical layout with a large pantry area for extra storage and organization, and a rear porch that creates additional outdoor living space perfect for relaxing or entertaining. The basement includes walk-out access, adding to the home's versatility for storage, workspace, or future possibilities. The home is being sold as-is, with no guarantees on the condition of mechanical systems, and the seller will make no repairs. Whether you're looking for your next project or a property with solid potential, this home offers plenty of possibilities.

ⓘ 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: $860 · $72/mo
• Projected year-2 tax: $860 · $72/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 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,028
• − Mortgage interest: −$1,675
• − Property taxes: −$860
• − Insurance: −$816
• − Repairs & maintenance: −$1,282
• − Management: −$1,282
• − Depreciation: −$870
• Taxable income: $9,242
• Est. tax owed @ 24.0%: −$2,218
• After-tax cash flow: $6,886/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: Kewanee CUSD 229
• NCES district ID: 1721000
• Math proficiency: 8% ▼ -8.00%
• Reading proficiency: 20% ▼ -12.00%
• Median HH income: $38,294
• Composite: 11.77/100
• National rank: #9682
• State rank: #540 of 620 in IL

Livability — Kewanee

• Score: 69/100
• State rank: #409
• US rank: #8423

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kewanee, IL
• Population (ZIP): 13,529

Population outlook (Henry County) Hauer SSP2

• Today (2025): 47,376 people
• By 2030: 45,920 · -3.1%
• By 2040: 42,829 · -9.6%
• By 2050: 39,606 · -16.4%
• By 2075: 31,848 · -32.8%
• By 2100: 23,503 · -50.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Hispanic / Latino 11% Black 6% Two or more races 5%
• Hispanic origin (detail): Mexican 9% Puerto Rican 1%
• Common ancestry: Romanian 4% English 3% Italian 3%
• Foreign-born: 3% · Canada
• Languages at home: 92% English-only · Spanish 7%

Political lean MEDSL · Henry

• 2024 margin: Strong R (+24.5) · D 36.8% · R 61.3% · Other 1.9%
• 2008→2024 swing: -32.2pp toward R · 2008: 7.7pp · 2024: -24.5pp
• All cycles: 2024: R+24.5 2020: R+21.4 2016: R+21.2 2012: D+3.1 2008: D+7.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -68.32%
• Current HPI: 121.8672
• 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

2 events — show timeline

• 2026-05-13 Pending — MRED as Distributed by MLS Grid
• 2026-04-21 Listed $29,900 MRED as Distributed by MLS Grid

Property tax history

+4.2%/yr

Latest (2024): $860 · +22.0% YoY. Source: county tax records.