430 E Main St · Wellington, IL 60973

$39,900

4 bd · 1.5 ba · 2,710 sqft · SingleFamily · 216 Days on market

Built 1900 1.01 ac lot $15/sqft · 73% below area ↓ 50% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0

Listing remarks MLS

The current owners have devoted endless time and money to restoring this one-of-a-kind home in Wellington! Comprehensive structural updates have been done to the first floor, second floor, and the roof. Approximately 10 years ago, the roof was replaced. There is new plywood, 50-year shingles, and new gutters. All gable, fascia, and soffit woodwork was restored or replaced. Extensive tuck-pointing has been done to the exterior of the home. The seller removed 35 trees, demolished the old garage, and removed all knob and tube wiring. There is a brand new copper water line from the road to the house. Also, most of the subfloor upstairs has been replaced. Bring your ideas and imagination to finish restoring this old gem! All information is deemed to be accurate, but not guaranteed. The home is being sold as-is.

Key facts

• 50-year shingles
• Restored woodwork
• New gutters

Tags

• STRUCTURAL UPDATES
• NEW PLYWOOD
• 50-YEAR SHINGLES
• NEW GUTTERS
• RESTORED WOODWORK
• EXTENSIVE TUCK-POINTING

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $850 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Recommended offer: $35k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 53/100 on livability (#1,295 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: crime F, amenities F, commute F.
• Hoopeston Area CUSD 11 (town): math 9% / reading 15% proficiency, ranked #559 of 620 in IL (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Maple Elem School (311 students, 0% FRL); Hoopeston Area Middle School (math 5% / reading 11%, grade F, #608 of 665 statewide, top 92%, 249 students, 0% FRL); Hoopeston Area High School (math 17% / reading 17%, grade F, #430 of 693 statewide, top 66%, 338 students, 0% FRL) — zoned schools average 0% FRL vs 58% district-wide (58 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 3 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 $1k of equity ($276 loan paydown + $1k appreciation (3.0% 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 (3.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 216 days — a 12% lower offer ($35k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 25y ago; this cycle's ask has dropped $5k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $32k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $35,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 216 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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 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 F 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. 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: 3.57% ✓
• Cap rate: 31.86%
• Cash-on-cash: 91.29%
• DSCR: 5.06
• GRM: 2.3

CMA / ARV

• ARV (median comp): $149,628
• List price: $39,900
• Delta: -73.33%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
430 E Main St	0.00mi	4/1.5	2,710 (0%)	1mo	$35,000	$13	99

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: 95.6%
• Equity multiple: 6.28×
• Total profit: $58,962
• Equity at exit: $17,941

10-year hold

• IRR: 95.1%
• Equity multiple: 13.00×
• Total profit: $134,067
• Equity at exit: $27,649

Cash invested: $11,172 (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 60973

• Active inventory: 3
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $1,425 medium
• Mortgage (P&I): −$209
• Tax est. 1.5%: −$50 /mo · $598/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$299
• Net cashflow: $850

Break-even live

Break-even rent $349

Max offer price $39,900

Occupancy floor 35%

Sensitivity live

Price	-10% $878	-5% $864	+0% $850	+5% $836	+10% $822
Rent	-10% $737	-5% $794	+0% $850	+5% $906	+10% $963
Rate	-1.0pp $870	-0.5pp $860	base $850	+0.5pp $840	+1.0pp $829

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: $9,975
• Closing costs: $1,197
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-05-06
   historical Active Under Contract 817-char remark

   Show marketing remark (817 chars)

   The current owners have devoted endless time and money to restoring this one-of-a-kind home in Wellington! Comprehensive structural updates have been done to the first floor, second floor, and the roof. Approximately 10 years ago, the roof was replaced. There is new plywood, 50-year shingles, and new gutters. All gable, fascia, and soffit woodwork was restored or replaced. Extensive tuck-pointing has been done to the exterior of the home. The seller removed 35 trees, demolished the old garage, and removed all knob and tube wiring. There is a brand new copper water line from the road to the house. Also, most of the subfloor upstairs has been replaced. Bring your ideas and imagination to finish restoring this old gem! All information is deemed to be accurate, but not guaranteed. The home is being sold as-is.

2. 2026-03-13
   price $39,900 817-char remark

   Show marketing remark (817 chars)

   The current owners have devoted endless time and money to restoring this one-of-a-kind home in Wellington! Comprehensive structural updates have been done to the first floor, second floor, and the roof. Approximately 10 years ago, the roof was replaced. There is new plywood, 50-year shingles, and new gutters. All gable, fascia, and soffit woodwork was restored or replaced. Extensive tuck-pointing has been done to the exterior of the home. The seller removed 35 trees, demolished the old garage, and removed all knob and tube wiring. There is a brand new copper water line from the road to the house. Also, most of the subfloor upstairs has been replaced. Bring your ideas and imagination to finish restoring this old gem! All information is deemed to be accurate, but not guaranteed. The home is being sold as-is.

3. 2026-01-12
   status Active 817-char remark

   Show marketing remark (817 chars)

   The current owners have devoted endless time and money to restoring this one-of-a-kind home in Wellington! Comprehensive structural updates have been done to the first floor, second floor, and the roof. Approximately 10 years ago, the roof was replaced. There is new plywood, 50-year shingles, and new gutters. All gable, fascia, and soffit woodwork was restored or replaced. Extensive tuck-pointing has been done to the exterior of the home. The seller removed 35 trees, demolished the old garage, and removed all knob and tube wiring. There is a brand new copper water line from the road to the house. Also, most of the subfloor upstairs has been replaced. Bring your ideas and imagination to finish restoring this old gem! All information is deemed to be accurate, but not guaranteed. The home is being sold as-is.

4. 2026-01-08
   historical Active Under Contract 817-char remark

   Show marketing remark (817 chars)

   The current owners have devoted endless time and money to restoring this one-of-a-kind home in Wellington! Comprehensive structural updates have been done to the first floor, second floor, and the roof. Approximately 10 years ago, the roof was replaced. There is new plywood, 50-year shingles, and new gutters. All gable, fascia, and soffit woodwork was restored or replaced. Extensive tuck-pointing has been done to the exterior of the home. The seller removed 35 trees, demolished the old garage, and removed all knob and tube wiring. There is a brand new copper water line from the road to the house. Also, most of the subfloor upstairs has been replaced. Bring your ideas and imagination to finish restoring this old gem! All information is deemed to be accurate, but not guaranteed. The home is being sold as-is.

5. 2025-10-23
   listed $45,000 Active 817-char remark

   Show marketing remark (817 chars)

   The current owners have devoted endless time and money to restoring this one-of-a-kind home in Wellington! Comprehensive structural updates have been done to the first floor, second floor, and the roof. Approximately 10 years ago, the roof was replaced. There is new plywood, 50-year shingles, and new gutters. All gable, fascia, and soffit woodwork was restored or replaced. Extensive tuck-pointing has been done to the exterior of the home. The seller removed 35 trees, demolished the old garage, and removed all knob and tube wiring. There is a brand new copper water line from the road to the house. Also, most of the subfloor upstairs has been replaced. Bring your ideas and imagination to finish restoring this old gem! All information is deemed to be accurate, but not guaranteed. The home is being sold as-is.

6. 2008-08-28
   soldstatus $31,500 357-char remark

   Show marketing remark (357 chars)

   Large brick Victorian home with a floored walk-in attic, approx. 25 minutes south of Watseka ,with all the inside charm of a vintage 1880's home. Sold "as in" condition. Sellers addendum and pre-approval required. Property approved for ExpressPath Financing. Call for more details!!!!This propery is now under auction terms and will be sold AS IS.

7. 2008-07-17
   historical 357-char remark

   Show marketing remark (357 chars)

   Large brick Victorian home with a floored walk-in attic, approx. 25 minutes south of Watseka ,with all the inside charm of a vintage 1880's home. Sold "as in" condition. Sellers addendum and pre-approval required. Property approved for ExpressPath Financing. Call for more details!!!!This propery is now under auction terms and will be sold AS IS.

8. 2008-04-07
   listed $44,900 357-char remark

   Show marketing remark (357 chars)

   Large brick Victorian home with a floored walk-in attic, approx. 25 minutes south of Watseka ,with all the inside charm of a vintage 1880's home. Sold "as in" condition. Sellers addendum and pre-approval required. Property approved for ExpressPath Financing. Call for more details!!!!This propery is now under auction terms and will be sold AS IS.

9. 2002-07-19
   soldstatus $72,000
10. 2001-06-19
    listed $79,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥103°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: $17,099
• − Mortgage interest: −$2,235
• − Property taxes: −$598
• − Insurance: −$200
• − Repairs & maintenance: −$1,368
• − Management: −$1,368
• − Depreciation: −$1,161
• Taxable income: $10,169
• Est. tax owed @ 24.0%: −$2,441
• After-tax cash flow: $7,759/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: Hoopeston Area CUSD 11
• NCES district ID: 1719660
• Math proficiency: 9% ▼ -7.00%
• Reading proficiency: 15% ▼ -3.00%
• Median HH income: $40,897
• Composite: 10.39/100
• National rank: #9786
• State rank: #559 of 620 in IL

Livability — Wellington

• Score: 53/100
• State rank: #1295
• US rank: #24552

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wellington, IL
• Population (ZIP): 382

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 (85%)
• Race & ethnicity: White 85% Hispanic / Latino 11% Two or more races 4%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Serbian 1% Lithuanian 1% Italian 1%
• Languages at home: 98% English-only · Spanish 2%

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: —
• Current HPI: —
• 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

-50.1% since first listed

10 events — show timeline

• 2026-05-06 Contingent — CIBR
• 2026-03-13 Price Changed $39,900 CIBR
• 2026-01-12 Relisted — CIBR
• 2026-01-08 Contingent — CIBR
• 2025-10-23 Listed $45,000 CIBR
• 2008-08-28 Sold (MLS) $31,500 MRED as Distributed by MLS Grid
• 2008-07-17 Listing Removed — MRED as Distributed by MLS Grid
• 2008-04-07 Listed $44,900 MRED as Distributed by MLS Grid
• 2002-07-19 Sold (MLS) $72,000 MRED as Distributed by MLS Grid
• 2001-06-19 Listed $79,900 MRED as Distributed by MLS Grid