302 E 2nd St · Prophetstown, IL 61277

$35,000

3 bd · 2.0 ba · 1,524 sqft · SingleFamily public records · 88 Days on market

Built 1900 8,550 sqft lot $23/sqft · 73% below area ↓ 47% 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
• Schools +5.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fixer upper in Prophetstown! Steps from the Rock River & Prophetstown State Park! 4-bed 2-bath two story home. Property has some damage from a previous fire. Garage was torn down but the actual home suffered minimal damage from the fire. Sold as-is where-is. Schedule your showing today!

Key facts

• 8,550 sq ft lot
• 3 parking spots
• Built 1900

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $626 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Recommended offer: $33k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#985 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.
• Market conditions: 4 active listings in the ZIP; 19 units permitted in Whiteside County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $242 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Whiteside County population projected at -21% 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 $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 88 days — a 6% lower offer ($33k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.7% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $32,900 (6.0% below list)

Questions for the listing agent

1. It's been on market 88 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 3.37% ✓
• Cap rate: 27.77%
• Cash-on-cash: 76.71%
• DSCR: 4.41
• GRM: 2.5

CMA / ARV

• ARV (median comp): $129,393
• List price: $35,000
• Delta: -72.95%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11 Elm Ct	0.18mi	3/1.5	1,536 (+1%)	3mo	$158,000	$103	86
513 E 3rd St	0.26mi	3/1.0	1,554 (+2%)	9mo	$22,000	$14	73
306 Walnut St	0.18mi	2/1.0 (-1)	1,468 (-4%)	20mo	$148,500	$101	60
102 W Riverside Dr	0.20mi	3/2.5	1,650 (+8%)	21mo	$250,000	$152	57
510 Woodlawn Dr	0.38mi	3/2.0	1,428 (-6%)	21mo	$162,000	$113	54
622 Woodlawn Dr	0.51mi	4/1.0 (+1)	1,708 (+12%)	7mo	$162,000	$95	41
47 Meadow Ln	0.67mi	3/1.0	1,296 (-15%)	15mo	$143,600	$111	27

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: 76.7%
• Equity multiple: 4.50×
• Total profit: $34,286
• Equity at exit: $5,219

10-year hold

• IRR: 80.4%
• Equity multiple: 9.31×
• Total profit: $81,466
• Equity at exit: $3,026

Cash invested: $9,800 (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 61277

• Home prices YoY: -13.4%
• Active inventory: 4
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $1,180 medium
• Mortgage (P&I): −$184
• Tax from tax record: −$107 /mo · $1,290/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$248
• Net cashflow: $626

Break-even live

Break-even rent $387

Max offer price $35,000

Occupancy floor 42%

Sensitivity live

Price	-10% $646	-5% $636	+0% $626	+5% $617	+10% $607
Rent	-10% $533	-5% $580	+0% $626	+5% $673	+10% $720
Rate	-1.0pp $644	-0.5pp $635	base $626	+0.5pp $617	+1.0pp $608

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-04
   days on market $35,000 Active 88 DOM
2. 2026-06-03
   price $35,000 Active 87 DOM
3. 2026-06-02
   days on market $39,900 Active 87 DOM
4. 2026-06-01
   days on market $39,900 Active 86 DOM
5. 2026-05-31
   days on market $39,900 Active 85 DOM
6. 2026-05-31
   days on market $39,900 Active 84 DOM
7. 2026-05-01
   price $39,900 294-char remark

   Show marketing remark (294 chars)

   Fixer upper in Prophetstown! Steps from the Rock River & Prophetstown State Park! 4-bed 2-bath two story home. Property has some damage from a previous fire. Garage was torn down but the actual home suffered minimal damage from the fire. Sold as-is where-is. Schedule your showing today!

8. 2023-12-04
   soldstatus $67,500
9. 2023-11-22
   soldstatus $67,500 Closed 476-char remark

   Show marketing remark (476 chars)

   Quiet location (1 block from the Rock River), 2-story home offers large living room with gas fireplace. Main floor laundry with a full bath attached. Beautiful wood staircase leads to the 3 bedrooms; with the master bedroom having it's own bath. Kitchen has a dinette/breakfast area with gas fireplace. Main floor den and office with glass French doors. Walk-up floored attic. Furnace (2022). 2 car attached garage and additional 2-1/2 car attached garage. Corner lot.

10. 2023-11-21
    status Pending 476-char remark

    Show marketing remark (476 chars)

    Quiet location (1 block from the Rock River), 2-story home offers large living room with gas fireplace. Main floor laundry with a full bath attached. Beautiful wood staircase leads to the 3 bedrooms; with the master bedroom having it's own bath. Kitchen has a dinette/breakfast area with gas fireplace. Main floor den and office with glass French doors. Walk-up floored attic. Furnace (2022). 2 car attached garage and additional 2-1/2 car attached garage. Corner lot.

11. 2023-11-09
    historical Contingent - No Showings 476-char remark

    Show marketing remark (476 chars)

    Quiet location (1 block from the Rock River), 2-story home offers large living room with gas fireplace. Main floor laundry with a full bath attached. Beautiful wood staircase leads to the 3 bedrooms; with the master bedroom having it's own bath. Kitchen has a dinette/breakfast area with gas fireplace. Main floor den and office with glass French doors. Walk-up floored attic. Furnace (2022). 2 car attached garage and additional 2-1/2 car attached garage. Corner lot.

12. 2023-10-30
    listed $74,900 Active 476-char remark

    Show marketing remark (476 chars)

    Quiet location (1 block from the Rock River), 2-story home offers large living room with gas fireplace. Main floor laundry with a full bath attached. Beautiful wood staircase leads to the 3 bedrooms; with the master bedroom having it's own bath. Kitchen has a dinette/breakfast area with gas fireplace. Main floor den and office with glass French doors. Walk-up floored attic. Furnace (2022). 2 car attached garage and additional 2-1/2 car attached garage. Corner lot.

ⓘ 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: $1,290 · $107/mo
• Projected year-2 tax: $1,290 · $107/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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°F today · 16 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: $14,158
• − Mortgage interest: −$1,961
• − Property taxes: −$1,290
• − Insurance: −$175
• − Repairs & maintenance: −$1,133
• − Management: −$1,133
• − Depreciation: −$1,018
• Taxable income: $7,449
• Est. tax owed @ 24.0%: −$1,788
• After-tax cash flow: $5,730/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)

No district data.

Livability — Prophetstown

• Score: 60/100
• State rank: #985
• US rank: #18995

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Prophetstown, IL
• Population (ZIP): 2,983

Population outlook (Whiteside County) Hauer SSP2

• Today (2025): 53,736 people
• By 2030: 51,657 · -3.9%
• By 2040: 47,169 · -12.2%
• By 2050: 42,613 · -20.7%
• By 2075: 32,691 · -39.2%
• By 2100: 22,638 · -57.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 2% Asian 1% Black 1%
• Common ancestry: English 4% Slovak 3% Iranian 2%
• Foreign-born: 1% · Canada
• Languages at home: 94% English-only · German/W. Germanic 5% Spanish 1%

Political lean MEDSL · Whiteside

• 2024 margin: R (+14.7) · D 41.7% · R 56.4% · Other 2.0%
• 2008→2024 swing: -32.3pp toward R · 2008: 17.6pp · 2024: -14.7pp
• All cycles: 2024: R+14.7 2020: R+8.3 2016: R+6.3 2012: D+17.3 2008: D+17.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -23.36%
• Current HPI: 151.2361
• 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

-46.7% since first listed

6 events — show timeline

• 2026-05-01 Price Changed $39,900 MRED as Distributed by MLS Grid
• 2023-12-04 Sold (Public Records) $67,500 Public Records
• 2023-11-22 Sold (MLS) $67,500 MRED as Distributed by MLS Grid
• 2023-11-21 Pending — MRED as Distributed by MLS Grid
• 2023-11-09 Contingent — MRED as Distributed by MLS Grid
• 2023-10-30 Listed $74,900 MRED as Distributed by MLS Grid

Property tax history

+2.0%/yr

Latest (2024): $1,290 · +19.1% YoY. Source: county tax records.