520 Webster St · Warsaw, IL 62379

$139,900

4 bd · 2.0 ba · 2,738 sqft · SingleFamily · 50 Days on market

Built 1914 7,776 sqft lot $51/sqft · 13% below area Est $162k · 13% under

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Why this score? — see what drove the C- 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 +13.6/15.0
• Cash flow +10.7/30.0
• Appreciation +9.0/10.0
• 1% rule +4.1/10.0
• Livability +3.4/5.0
• DSCR +3.1/10.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Beautiful Well Maintained Home!!! Main floor Large three season room/enclosed front porch opens with French doors to a very large living room with fireplace and hardwood floors. From the living room open another set of beautiful French doors to a large dining room with hardwood floor also a small down stairs bedroom or can be used as a office/den. Kitchen with subway tile backsplash, full bathroom and laundry room. Upper level has (3) nice size bedrooms and full bath with private entrance from the primary bedroom. Very large 36 x 40 garage/metal building insulated and heated with attached carport! You have to tour this home to appreciate the style, comfort and many extra's. 72 HR CLAUSE IN EFFECT. CALL TODAY BEFORE IT GETS AWAY!!!!!

Key facts

• Three season room
• French doors
• Large living room

Tags

• THREE SEASON ROOM
• ENCLOSED FRONT PORCH
• LARGE LIVING ROOM
• FIREPLACE
• HARDWOOD FLOORS
• FRENCH DOORS

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $-65 ($-785/yr) — negative.
• To cash-flow at today's rent, offer at most $128k (8.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $127k (9.3% below list).
• Recommended offer: $127k (9.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 68/100 on livability (#459 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, schools D, employment D.
• Warsaw CUSD 316 (rural): math 25% / reading 35% proficiency, ranked #489 of 919 in IL (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 20 active listings in the ZIP.

Forward outlook

• In year one you build about $12k of equity ($967 loan paydown + $11k appreciation (8.0% local appreciation)).
• Hancock County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (8.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 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.
• Current owner paid $115k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1914 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $126,885 (9.3% 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. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. Built in 1914 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 0.91% ✗
• Cap rate: 5.73%
• Cash-on-cash: -2.00%
• DSCR: 0.91
• GRM: 9.2

CMA / ARV

• ARV (median comp): $161,702
• List price: $139,900
• Delta: -13.48%
• Verdict: UNDERPRICED
• Comps: 18 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
124 Main St	0.32mi	4/2.0	2,538 (-7%)	0mo	$56,000	$22	73
825 Clark St	0.25mi	4/2.5	2,600 (-5%)	10mo	$98,500	$38	70
425 N 3rd St	0.38mi	3/1.5 (-1)	2,580 (-6%)	14mo	$175,000	$68	54
1160 Marion St	0.54mi	3/3.0 (-1)	2,510 (-8%)	9mo	$220,000	$88	44
610 S 6th	0.22mi	5/2.0 (+1)	2,328 (-15%)	23mo	$187,500	$81	40

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

7.99% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.5%
• Equity multiple: 2.36×
• Total profit: $53,469
• Equity at exit: $106,202

10-year hold

• IRR: 17.4%
• Equity multiple: 5.04×
• Total profit: $158,387
• Equity at exit: $210,729

Cash invested: $39,172 (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 62379

• Home prices YoY: 5.6%
• Active inventory: 20
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,269 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$276 /mo · $3,310/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$266
• Net cashflow: $-65

Break-even live

Break-even rent $1,352

Max offer price $128,350

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-12
   status $139,900 Pending 50 DOM
2. 2026-06-09
   days on market $139,900 Active 50 DOM
3. 2026-06-08
   days on market $139,900 Active 49 DOM
4. 2026-06-07
   days on market $139,900 Active 48 DOM
5. 2026-06-04
   days on market $139,900 Active 44 DOM
6. 2026-06-02
   days on market $139,900 Active 43 DOM
7. 2026-06-01
   days on market $139,900 Active 42 DOM
8. 2026-05-31
   days on market $139,900 Active 41 DOM
9. 2026-05-31
   days on market $139,900 Active 40 DOM
10. 2026-05-14
    status Active 742-char remark

    Show marketing remark (742 chars)

    Beautiful Well Maintained Home!!! Main floor Large three season room/enclosed front porch opens with French doors to a very large living room with fireplace and hardwood floors. From the living room open another set of beautiful French doors to a large dining room with hardwood floor also a small down stairs bedroom or can be used as a office/den. Kitchen with subway tile backsplash, full bathroom and laundry room. Upper level has (3) nice size bedrooms and full bath with private entrance from the primary bedroom. Very large 36 x 40 garage/metal building insulated and heated with attached carport! You have to tour this home to appreciate the style, comfort and many extra's. 72 HR CLAUSE IN EFFECT. CALL TODAY BEFORE IT GETS AWAY!!!!!

11. 2026-05-13
    historical Active Under Contract 742-char remark

    Show marketing remark (742 chars)

    Beautiful Well Maintained Home!!! Main floor Large three season room/enclosed front porch opens with French doors to a very large living room with fireplace and hardwood floors. From the living room open another set of beautiful French doors to a large dining room with hardwood floor also a small down stairs bedroom or can be used as a office/den. Kitchen with subway tile backsplash, full bathroom and laundry room. Upper level has (3) nice size bedrooms and full bath with private entrance from the primary bedroom. Very large 36 x 40 garage/metal building insulated and heated with attached carport! You have to tour this home to appreciate the style, comfort and many extra's. 72 HR CLAUSE IN EFFECT. CALL TODAY BEFORE IT GETS AWAY!!!!!

12. 2026-04-18
    listed $139,900 Active 742-char remark

    Show marketing remark (742 chars)

    Beautiful Well Maintained Home!!! Main floor Large three season room/enclosed front porch opens with French doors to a very large living room with fireplace and hardwood floors. From the living room open another set of beautiful French doors to a large dining room with hardwood floor also a small down stairs bedroom or can be used as a office/den. Kitchen with subway tile backsplash, full bathroom and laundry room. Upper level has (3) nice size bedrooms and full bath with private entrance from the primary bedroom. Very large 36 x 40 garage/metal building insulated and heated with attached carport! You have to tour this home to appreciate the style, comfort and many extra's. 72 HR CLAUSE IN EFFECT. CALL TODAY BEFORE IT GETS AWAY!!!!!

13. 2022-11-25
    soldstatus $115,000

ⓘ 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: $3,310 · $276/mo
• Projected year-2 tax: $3,310 · $276/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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,226
• − Mortgage interest: −$7,837
• − Property taxes: −$3,310
• − Insurance: −$700
• − Repairs & maintenance: −$1,218
• − Management: −$1,218
• − Depreciation: −$4,070
• Taxable loss: −$3,126
• Est. tax savings @ 24.0%: +$750
• After-tax cash flow: $-34/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: Warsaw CUSD 316
• NCES district ID: 1740890
• Math proficiency: 25% ▲ 5.00%
• Reading proficiency: 35% ▬ 0.00%
• Median HH income: $48,724
• Composite: 28.9/100
• National rank: #11950
• State rank: #489 of 919 in IL

Livability — Warsaw

• Score: 68/100
• State rank: #459
• US rank: #9523

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Warsaw, IL
• Population (ZIP): 1,828

Population outlook (Hancock County) Hauer SSP2

• Today (2025): 17,042 people
• By 2030: 16,056 · -5.8%
• By 2040: 13,912 · -18.4%
• By 2050: 11,879 · -30.3%
• By 2075: 8,302 · -51.3%
• By 2100: 5,846 · -65.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 2%
• Common ancestry: Slovak 5% Lithuanian 2% Iranian 1%
• Foreign-born: 1%
• Languages at home: 98% English-only · Other Indo-European 2%

Political lean MEDSL · Hancock

• 2024 margin: Solid R (+50.0) · D 24.1% · R 74.1% · Other 1.8%
• 2008→2024 swing: -39.2pp toward R · 2008: -10.8pp · 2024: -50.0pp
• All cycles: 2024: R+50.0 2020: R+48.9 2016: R+50.8 2012: R+19.0 2008: R+10.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.99%
• Current HPI: 150.9375
• 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

+21.7% since first listed

4 events — show timeline

• 2026-05-14 Relisted — IAR
• 2026-05-13 Contingent — IAR
• 2026-04-18 Listed $139,900 IAR
• 2022-11-25 Sold (Public Records) $115,000 Public Records

Property tax history

+4.5%/yr

Latest (2024): $3,310 · +5.8% YoY. Source: county tax records.