306 S Howard St · Newman, IL 61942

$60,000

2 bd · 1.0 ba · 1,474 sqft · SingleFamily public records · 189 Days on market

Built 1890 0.32 ac lot $41/sqft · 21% below area Est $76k · 21% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.5/5.0
• Appreciation +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0

Listing remarks MLS

Seller is motivated and will consider any offers, as well as selling on contract. Charming Home With Great Bones & Endless Potential! This 2-bedroom home offers solid structure, classic character, and a fantastic chance to add your personal touch. Featuring a dedicated dining room, spacious living areas, and new appliances, it's a perfect blend of "move-in now" with room to improve over time. The finished attic provides even more opportunity-add a staircase and you could create an additional bedroom, office, or flex space. Sitting on a double lot, the property offers plenty of outdoor room to expand, garden, entertain, or design the yard you've always wanted. Whether you're a first-time buyer or an investor seeking a project with upside, this home is ready for someone to make it truly shine. Don't miss the chance to unlock its full potential!

Key facts

• Finished attic
• Double lot
• Outdoor room

Tags

• DEDICATED DINING ROOM
• FINISHED ATTIC
• DOUBLE LOT
• OUTDOOR ROOM

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $471 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $53k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#416 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Shiloh CUSD 1 (rural): math 9% / reading 13% proficiency, ranked #816 of 919 in IL (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 5 active listings in the ZIP; 36 units permitted in Douglas County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $415 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Douglas County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 189 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago 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 $33k; list at $60k implies a 82% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $52,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 189 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 1890 — 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. 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: 1.77% ✓
• Cap rate: 15.72%
• Cash-on-cash: 33.67%
• DSCR: 2.50
• GRM: 4.7

CMA / ARV

• ARV (median comp): $75,914
• List price: $60,000
• Delta: -20.96%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
309 E Yates	0.24mi	3/2.0 (+1)	1,345 (-9%)	2mo	$159,900	$119	64
604 N Broadway St	0.51mi	2/1.0	1,507 (+2%)	14mo	$104,750	$70	61
103 S Coffin St	0.29mi	3/1.0 (+1)	1,407 (-4%)	19mo	$69,900	$50	58

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: 29.0%
• Equity multiple: 2.21×
• Total profit: $20,287
• Equity at exit: $8,946

10-year hold

• IRR: 36.3%
• Equity multiple: 4.35×
• Total profit: $56,269
• Equity at exit: $5,188

Cash invested: $16,800 (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 61942

• Home prices YoY: -1.6%
• Active inventory: 5
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,059 medium
• Mortgage (P&I): −$315
• Tax from tax record: −$26 /mo · $311/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$222
• Net cashflow: $471

Break-even live

Break-even rent $463

Max offer price $60,000

Occupancy floor 50%

Sensitivity live

Price	-10% $505	-5% $488	+0% $471	+5% $454	+10% $437
Rent	-10% $388	-5% $430	+0% $471	+5% $513	+10% $555
Rate	-1.0pp $502	-0.5pp $487	base $471	+0.5pp $456	+1.0pp $440

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-05-31
   days on market $60,000 Active 189 DOM
2. 2026-05-31
   days on market $60,000 Active 188 DOM
3. 2025-11-23
   listed $60,000 Active 871-char remark

   Show marketing remark (871 chars)

   Seller is motivated and will consider any offers, as well as selling on contract. Charming Home With Great Bones & Endless Potential! This 2-bedroom home offers solid structure, classic character, and a fantastic chance to add your personal touch. Featuring a dedicated dining room, spacious living areas, and new appliances, it's a perfect blend of "move-in now" with room to improve over time. The finished attic provides even more opportunity-add a staircase and you could create an additional bedroom, office, or flex space. Sitting on a double lot, the property offers plenty of outdoor room to expand, garden, entertain, or design the yard you've always wanted. Whether you're a first-time buyer or an investor seeking a project with upside, this home is ready for someone to make it truly shine. Don't miss the chance to unlock its full potential!

4. 2022-12-13
   soldstatus $33,000 Closed 562-char remark

   Show marketing remark (562 chars)

   Find instant income potential or make this charming 2 bedroom home in quiet Newman your own! The inviting front porch leads you inside where you'll find the spacious living room, separate dining room, and large fully applianced kitchen. The split bedroom designs starts with the primary off the dining room with an additional guest bedroom off the large laundry room. The updated full bathroom completes the tour. Check out the attic space for additional storage solutions. Newer furnace. With mature trees on a double lot, you'll definitely want to take a look!

5. 2022-12-12
   soldstatus $33,000
6. 2022-12-05
   soldstatus $33,000
7. 2022-11-11
   historical Contingent - Continue to Show 562-char remark

   Show marketing remark (562 chars)

   Find instant income potential or make this charming 2 bedroom home in quiet Newman your own! The inviting front porch leads you inside where you'll find the spacious living room, separate dining room, and large fully applianced kitchen. The split bedroom designs starts with the primary off the dining room with an additional guest bedroom off the large laundry room. The updated full bathroom completes the tour. Check out the attic space for additional storage solutions. Newer furnace. With mature trees on a double lot, you'll definitely want to take a look!

8. 2022-10-31
   listed $33,000 Active 562-char remark

   Show marketing remark (562 chars)

   Find instant income potential or make this charming 2 bedroom home in quiet Newman your own! The inviting front porch leads you inside where you'll find the spacious living room, separate dining room, and large fully applianced kitchen. The split bedroom designs starts with the primary off the dining room with an additional guest bedroom off the large laundry room. The updated full bathroom completes the tour. Check out the attic space for additional storage solutions. Newer furnace. With mature trees on a double lot, you'll definitely want to take a look!

9. 2012-06-20
   historical

ⓘ 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: $311 · $26/mo
• Projected year-2 tax: $836 · $70/mo
• Expected delta: +$526/yr (+$44/mo · 169.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 12% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥105°F today · 19 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: $12,713
• − Mortgage interest: −$3,361
• − Property taxes: −$311
• − Insurance: −$300
• − Repairs & maintenance: −$1,017
• − Management: −$1,017
• − Depreciation: −$1,745
• Taxable income: $4,962
• Est. tax owed @ 24.0%: −$1,191
• After-tax cash flow: $4,466/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: Shiloh CUSD 1
• NCES district ID: 1700122
• Math proficiency: 9% ▼ -1.00%
• Reading proficiency: 13% ▼ -7.00%
• Median HH income: $45,781
• Composite: 13.65/100
• National rank: #14481
• State rank: #816 of 919 in IL

Livability — Newman

• Score: 69/100
• State rank: #416
• US rank: #8558

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Newman, IL
• Population (ZIP): 1,031

Population outlook (Douglas County) Hauer SSP2

• Today (2025): 19,209 people
• By 2030: 18,940 · -1.4%
• By 2040: 18,397 · -4.2%
• By 2050: 17,829 · -7.2%
• By 2075: 16,395 · -14.6%
• By 2100: 14,329 · -25.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Black 2% Hispanic / Latino 2%
• Common ancestry: Lithuanian 3% Slovak 2% Romanian 2%
• Foreign-born: 2%
• Languages at home: 98% English-only · German/W. Germanic 1% Spanish 1%

Political lean MEDSL · Douglas

• 2024 margin: Solid R (+46.1) · D 26.1% · R 72.3% · Other 1.6%
• 2008→2024 swing: -24.9pp toward R · 2008: -21.3pp · 2024: -46.1pp
• All cycles: 2024: R+46.1 2020: R+44.4 2016: R+46.3 2012: R+36.8 2008: R+21.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -3.36%
• Current HPI: 212.8473
• 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

+81.8% since first listed

7 events — show timeline

• 2025-11-23 Listed $60,000 MRED as Distributed by MLS Grid
• 2022-12-13 Sold (MLS) $33,000 MRED as Distributed by MLS Grid
• 2022-12-12 Sold (Public Records) $33,000 Public Records
• 2022-12-05 Sold (Public Records) $33,000 Public Records
• 2022-11-11 Contingent — MRED as Distributed by MLS Grid
• 2022-10-31 Listed $33,000 MRED as Distributed by MLS Grid
• 2012-06-20 Listing Removed — MRED as Distributed by MLS Grid

Property tax history

-11.8%/yr

Latest (2024): $311 · -17.2% YoY. Source: county tax records.