443 W Main St · Braidwood, IL 60408

$154,900

2 bd · 1.0 ba · 604 sqft · Other public records · 268 Days on market

Built 1945 $256/sqft · 9% above area Est $223k · 30% 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 +8.6/30.0
• Livability +3.7/5.0
• Schools +3.0/10.0
• 1% rule +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This charming 2-bedroom, 1-bath home is full of potential and perfectly situated just steps from Reed-Custer Elementary School. The property sits on an extra-large, buildable lot, offering plenty of room for expansion, gardening or outdoor entertaining. Newly painted in a contemporary color scheme. Recent updates include a newer roof and low-maintenance vinyl siding, giving peace of mind for years to come. A one-car detached garage provides secure parking along with generous storage space for tools, hobbies or seasonal items. Whether you're a first-time buyer, looking to downsize, or seeking an investment opportunity, this home combines comfort with endless possibilities in a highly convenient location.

Key facts

• Buildable lot
• Newer roof
• Generous storage

Tags

• BUILDABLE LOT
• NEWER ROOF
• VINYL SIDING
• DETACHED GARAGE
• SECURE PARKING
• GENEROUS STORAGE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $155k.

Deal economics

• At list price, monthly cash flow is $-133 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $131k (15.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $120k (22.5% below list).
• Recommended offer: $120k (22.5% below list) — sets the bar for 1% rule.
• Cap rate 5.3% vs local median 3.1% in Braidwood — 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 74/100 on livability (#251 in IL, #4,654 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D+, amenities F, commute F.
• Reed Custer CUSD 255U (rural): math 29% / reading 37% proficiency, ranked #203 of 620 in IL (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 23 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 2,028 units permitted in Will County in 2024 (530 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 $5k of value loss. Plan a longer hold.
• Will County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 268 days — a 12% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y ago; this cycle's ask has dropped $24k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $50k; list at $155k implies a 210% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $120,000 (22.5% 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. It's been on market 268 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
3. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 0.77% ✗
• Cap rate: 5.26%
• Cash-on-cash: -3.68%
• DSCR: 0.84
• GRM: 10.8

CMA / ARV

• ARV (median comp): $222,830
• List price: $154,900
• Delta: -30.49%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -22.5%
• Equity multiple: 0.23×
• Total profit: $-33,549
• Equity at exit: $23,096

10-year hold

• IRR: -16.6%
• Equity multiple: 0.08×
• Total profit: $-40,025
• Equity at exit: $13,393

Cash invested: $43,372 (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 60408

• Home prices YoY: -27.0%
• Active inventory: 23
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $1,200 medium
• Mortgage (P&I): −$812
• Tax from tax record: −$204 /mo · $2,450/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$252
• Net cashflow: $-133

Break-even live

Break-even rent $1,368

Max offer price $131,398

Occupancy floor —

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: $38,725
• Closing costs: $4,647
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
405 E Reed St Unit 11 Braidwood, IL	1.0	1.0	700	$1,100	$1.57	24d	1	0.89mi
405 E Reed St Unit 9 Braidwood, IL	1.0	1.0	700	$1,300	$1.86	1d	1	0.89mi

Listing history 28 events

1. 2026-06-19
   days on market $154,900 Active 268 DOM
2. 2026-06-18
   days on market $154,900 Active 267 DOM
3. 2026-06-17
   days on market $154,900 Active 266 DOM
4. 2026-06-16
   days on market $154,900 Active 265 DOM
5. 2026-06-15
   days on market $154,900 Active 264 DOM
6. 2026-06-14
   days on market $154,900 Active 262 DOM
7. 2026-06-13
   days on market $154,900 Active 261 DOM
8. 2026-06-10
   pricedays on market $154,900 Active 259 DOM
9. 2026-06-09
   days on market $159,000 Active 258 DOM
10. 2026-06-08
    days on market $159,000 Active 257 DOM
11. 2026-06-07
    days on market $159,000 Active 256 DOM
12. 2026-06-05
    days on market $159,000 Active 253 DOM
13. 2026-06-03
    days on market $159,000 Active 252 DOM
14. 2026-06-02
    days on market $159,000 Active 251 DOM
15. 2026-06-01
    days on market $159,000 Active 250 DOM
16. 2026-05-31
    days on market $159,000 Active 249 DOM
17. 2026-05-30
    days on market $159,000 Active 248 DOM
18. 2026-04-29
    status Active 712-char remark

    Show marketing remark (712 chars)

    This charming 2-bedroom, 1-bath home is full of potential and perfectly situated just steps from Reed-Custer Elementary School. The property sits on an extra-large, buildable lot, offering plenty of room for expansion, gardening or outdoor entertaining. Newly painted in a contemporary color scheme. Recent updates include a newer roof and low-maintenance vinyl siding, giving peace of mind for years to come. A one-car detached garage provides secure parking along with generous storage space for tools, hobbies or seasonal items. Whether you're a first-time buyer, looking to downsize, or seeking an investment opportunity, this home combines comfort with endless possibilities in a highly convenient location.

19. 2026-04-18
    historical Contingent - Continue to Show 712-char remark

    Show marketing remark (712 chars)

    This charming 2-bedroom, 1-bath home is full of potential and perfectly situated just steps from Reed-Custer Elementary School. The property sits on an extra-large, buildable lot, offering plenty of room for expansion, gardening or outdoor entertaining. Newly painted in a contemporary color scheme. Recent updates include a newer roof and low-maintenance vinyl siding, giving peace of mind for years to come. A one-car detached garage provides secure parking along with generous storage space for tools, hobbies or seasonal items. Whether you're a first-time buyer, looking to downsize, or seeking an investment opportunity, this home combines comfort with endless possibilities in a highly convenient location.

20. 2026-03-24
    price $159,000 712-char remark

    Show marketing remark (712 chars)

    This charming 2-bedroom, 1-bath home is full of potential and perfectly situated just steps from Reed-Custer Elementary School. The property sits on an extra-large, buildable lot, offering plenty of room for expansion, gardening or outdoor entertaining. Newly painted in a contemporary color scheme. Recent updates include a newer roof and low-maintenance vinyl siding, giving peace of mind for years to come. A one-car detached garage provides secure parking along with generous storage space for tools, hobbies or seasonal items. Whether you're a first-time buyer, looking to downsize, or seeking an investment opportunity, this home combines comfort with endless possibilities in a highly convenient location.

21. 2026-01-09
    price $164,000 712-char remark

    Show marketing remark (712 chars)

    This charming 2-bedroom, 1-bath home is full of potential and perfectly situated just steps from Reed-Custer Elementary School. The property sits on an extra-large, buildable lot, offering plenty of room for expansion, gardening or outdoor entertaining. Newly painted in a contemporary color scheme. Recent updates include a newer roof and low-maintenance vinyl siding, giving peace of mind for years to come. A one-car detached garage provides secure parking along with generous storage space for tools, hobbies or seasonal items. Whether you're a first-time buyer, looking to downsize, or seeking an investment opportunity, this home combines comfort with endless possibilities in a highly convenient location.

22. 2025-10-30
    price $169,000 712-char remark

    Show marketing remark (712 chars)

    This charming 2-bedroom, 1-bath home is full of potential and perfectly situated just steps from Reed-Custer Elementary School. The property sits on an extra-large, buildable lot, offering plenty of room for expansion, gardening or outdoor entertaining. Newly painted in a contemporary color scheme. Recent updates include a newer roof and low-maintenance vinyl siding, giving peace of mind for years to come. A one-car detached garage provides secure parking along with generous storage space for tools, hobbies or seasonal items. Whether you're a first-time buyer, looking to downsize, or seeking an investment opportunity, this home combines comfort with endless possibilities in a highly convenient location.

23. 2025-09-24
    listed $179,000 Active 712-char remark

    Show marketing remark (712 chars)

    This charming 2-bedroom, 1-bath home is full of potential and perfectly situated just steps from Reed-Custer Elementary School. The property sits on an extra-large, buildable lot, offering plenty of room for expansion, gardening or outdoor entertaining. Newly painted in a contemporary color scheme. Recent updates include a newer roof and low-maintenance vinyl siding, giving peace of mind for years to come. A one-car detached garage provides secure parking along with generous storage space for tools, hobbies or seasonal items. Whether you're a first-time buyer, looking to downsize, or seeking an investment opportunity, this home combines comfort with endless possibilities in a highly convenient location.

24. 2019-05-14
    historical
25. 2019-03-08
    price
26. 2019-01-17
    price
27. 2018-11-15
    listed New
28. 2003-04-14
    soldstatus $50,000

ⓘ 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: $2,450 · $204/mo
• Projected year-2 tax: $2,983 · $249/mo
• Expected delta: +$533/yr (+$44/mo · 21.8%)

ⓘ 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,400
• − Mortgage interest: −$8,677
• − Property taxes: −$2,450
• − Insurance: −$774
• − Repairs & maintenance: −$1,152
• − Management: −$1,152
• − Depreciation: −$4,506
• Taxable loss: −$4,312
• Est. tax savings @ 24.0%: +$1,035
• After-tax cash flow: $-562/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: Reed Custer CUSD 255U
• NCES district ID: 1733380
• Math proficiency: 29% ▼ -8.00%
• Reading proficiency: 37% ▼ -12.00%
• Median HH income: $60,500
• Composite: 29.67/100
• National rank: #6461
• State rank: #203 of 620 in IL

Livability — Braidwood

• Score: 74/100
• State rank: #251
• US rank: #4654

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Braidwood, IL
• City population: 5,332
• Population (ZIP): 5,332

Population outlook (Will County) Hauer SSP2

• Today (2025): 705,368 people
• By 2030: 708,154 · +0.4%
• By 2040: 702,692 · -0.4%
• By 2050: 680,249 · -3.6%
• By 2075: 611,990 · -13.2%
• By 2100: 516,215 · -26.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Hispanic / Latino 8% Two or more races 5%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 13% Iranian 2% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Will

• 2024 margin: Toss-up / Even · D 50.1% · R 48.5% · Other 1.4%
• 2008→2024 swing: -11.6pp toward R · 2008: 13.2pp · 2024: 1.6pp
• All cycles: 2024: D+1.6 2020: D+8.3 2016: D+5.7 2012: D+3.7 2008: D+13.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -92.93%
• Current HPI: 251.3945
• 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

+218.0% since first listed

11 events — show timeline

• 2026-04-29 Relisted — MRED as Distributed by MLS Grid
• 2026-04-18 Contingent — MRED as Distributed by MLS Grid
• 2026-03-24 Price Changed $159,000 MRED as Distributed by MLS Grid
• 2026-01-09 Price Changed $164,000 MRED as Distributed by MLS Grid
• 2025-10-30 Price Changed $169,000 MRED as Distributed by MLS Grid
• 2025-09-24 Listed $179,000 MRED as Distributed by MLS Grid
• 2019-05-14 Listing Removed — MRED as Distributed by MLS Grid
• 2019-03-08 Price Changed — MRED as Distributed by MLS Grid
• 2019-01-17 Price Changed — MRED as Distributed by MLS Grid
• 2018-11-15 Listed — MRED as Distributed by MLS Grid
• 2003-04-14 Sold (Public Records) $50,000 Public Records

Property tax history

+3.4%/yr

Latest (2024): $2,450 · +7.9% YoY. Source: county tax records.