406 Park St · Kappa, IL 61738

$129,900

2 bd · 2.0 ba · 1,504 sqft · SingleFamily public records · 14 Days on market

Built 1993 0.75 ac lot $86/sqft · 45% below area Est $176k · 26% 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).

• ARV discount +15.0/15.0
• Cash flow +11.4/30.0
• 1% rule +3.5/10.0
• DSCR +3.3/10.0
• Livability +3.2/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Great outdoor space, huge garage for toys and vehicles, whole house generator guaranteeing comfort, and low cost in an expensive real estate market! Updates to mobile home include new shingles in 2017, well pump in 2018, water line in 2019, central air in 2021, windows in 2022. Huge south facing screened porch, fenced area great for pets or a garden, quick easy drive to Bloomington-Normal or El Paso.

Key facts

• 0.75 acre lot
• 3 garage spots
• Built 1993

Property features AI

Finance

• Other: Living area reported from assessor; Total finished area reported as 1,120; Not currently leased; Directions: Dixon Avenue, west on First Street, south on Park Street
• HOA & community: No master association fees (not required)

Exterior

• Parking: Detached garage with garage door opener; Garage owned; Concrete parking; Approximately 3.5 garage/total parking spaces
• Utilities: Well water; Septic tank sewer
• Home design: Detached single manufactured home; Fee simple ownership
• Construction: Vinyl siding; Approximately 31–40 years old
• Exterior features: Half- to nearly one-acre lot (0.50–0.99 acre); Lot dimensions approximately 205 x 160; School bus service

Interior

• Kitchen: Kitchen on the main level (approx. 12 x 14)
• Bedrooms: Master bedroom on the main level (approx. 13 x 14); Additional bedroom on the main level (approx. 11 x 14); Two other bedrooms
• Bathrooms: Two full bathrooms; Whirlpool tub
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Four total rooms; Window treatments throughout
• Laundry & utility: Main-level laundry room (approx. 5 x 5); Laundry in unit

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $-45 ($-539/yr) — negative.
• To cash-flow at today's rent, offer at most $122k (6.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $110k (15.3% below list).
• Recommended offer: $110k (15.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 64/100 on livability (#672 in IL) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• El Paso-Gridley CUSD 11 (town): math 31% / reading 38% proficiency, ranked #183 of 620 in IL (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Jefferson Park School (294 students, 0% FRL); El Paso-Gridley High School (math 27% / reading 42%, grade F, #126 of 693 statewide, top 21%, 375 students, 0% FRL) — zoned schools average 0% FRL vs 27% district-wide (27 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 11 active listings in the ZIP; 35 units permitted in Woodford County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $898 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Woodford County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 14 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.

Recommended offer $110,082 (15.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
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: 0.85% ✗
• Cap rate: 5.88%
• Cash-on-cash: -1.48%
• DSCR: 0.93
• GRM: 9.8

CMA / ARV

• ARV (median comp): $175,801
• List price: $129,900
• Delta: -26.11%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
502 Park St	0.05mi	3/1.0 (+1)	1,480 (-2%)	18mo	$110,000	$74	71

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: -18.7%
• Equity multiple: 0.34×
• Total profit: $-23,881
• Equity at exit: $19,369

10-year hold

• IRR: -11.1%
• Equity multiple: 0.33×
• Total profit: $-24,366
• Equity at exit: $11,231

Cash invested: $36,372 (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 61738

• Active inventory: 11
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,101 medium
• Mortgage (P&I): −$681
• Tax from tax record: −$179 /mo · $2,150/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $-45

Break-even live

Break-even rent $1,158

Max offer price $121,972

Occupancy floor 99%

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-05-14
   status Pending 403-char remark
2. 2026-04-30
   listed $129,900 Active 403-char remark
3. 2025-12-31
   historical
4. 2025-11-06
   price
5. 2025-09-19
   listed Active

ⓘ 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: $2,150 · $179/mo
• Projected year-2 tax: $2,550 · $212/mo
• Expected delta: +$399/yr (+$33/mo · 18.6%)

ⓘ 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 2/10 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,210
• − Mortgage interest: −$7,276
• − Property taxes: −$2,150
• − Insurance: −$650
• − Repairs & maintenance: −$1,057
• − Management: −$1,057
• − Depreciation: −$3,779
• Taxable loss: −$2,759
• Est. tax savings @ 24.0%: +$662
• After-tax cash flow: $124/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: El Paso-Gridley CUSD 11
• NCES district ID: 1700326
• Math proficiency: 31% ▼ -7.00%
• Reading proficiency: 38% ▼ -14.00%
• Median HH income: $61,542
• Composite: 31.02/100
• National rank: #6089
• State rank: #183 of 620 in IL

Livability — Kappa

• Score: 64/100
• State rank: #672
• US rank: #13749

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kappa, IL
• Population (ZIP): 4,444

Population outlook (Woodford County) Hauer SSP2

• Today (2025): 39,897 people
• By 2030: 40,038 · +0.4%
• By 2040: 39,745 · -0.4%
• By 2050: 38,585 · -3.3%
• By 2075: 34,769 · -12.9%
• By 2100: 27,616 · -30.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Black 2% Two or more races 2%
• Common ancestry: Lithuanian 3% Iranian 2% Italian 2%
• Foreign-born: 2%
• Languages at home: 97% English-only · German/W. Germanic 2%

Political lean MEDSL · Woodford

• 2024 margin: Solid R (+42.0) · D 28.2% · R 70.3% · Other 1.5%
• 2008→2024 swing: -15.4pp toward R · 2008: -26.6pp · 2024: -42.0pp
• All cycles: 2024: R+42.0 2020: R+40.2 2016: R+41.8 2012: R+39.2 2008: R+26.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -131.17%
• Current HPI: 130.3388
• 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

+3.2% since first listed

6 events — show timeline

• 2026-06-10 Sold (MLS) $134,000 MRED as Distributed by MLS Grid
• 2026-05-14 Pending — MRED as Distributed by MLS Grid
• 2026-04-30 Listed $129,900 MRED as Distributed by MLS Grid
• 2025-12-31 Listing Removed — MRED as Distributed by MLS Grid
• 2025-11-06 Price Changed — MRED as Distributed by MLS Grid
• 2025-09-19 Listed — MRED as Distributed by MLS Grid

Property tax history

+12.3%/yr

Latest (2025): $2,150 · +8.5% YoY. Source: county tax records.