501 Washington St · Prophetstown, IL 61277

$64,750

4 bd · 2.0 ba · 2,002 sqft · SingleFamily public records · 99 Days on market

Built 1890 9,583 sqft lot $32/sqft · 47% below area Est $118k · 45% 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
• 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

Investor Opportunity! Zoned single family, but long ago it was set up as a up and down duplex. The lower level features a large kitchen, dining room and living room. Two bedrooms are joined by the bath. Original features include detailed woodwork (painted), arched doorway and stained glass. The second floor offers large rooms, and the bedroom has a 4'6 x 13'9 closet. Rear separate entrance for second floor but can also access from the main floor if desired. Situated on a large lot with plenty of parking and a garage for storage. Located within walking distance to downtown. Being sold "As Is". (Will not pass any government loans)

Key facts

• Detailed woodwork
• Living room
• Stained glass

Tags

• LARGE KITCHEN
• DINING ROOM
• LIVING ROOM
• DETAILED WOODWORK
• ARCHED DOORWAY
• STAINED GLASS

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $477 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $59k (9.0% 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 $448 of loan paydown is wiped out by about $2k 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 $18k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 99 days — a 9% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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.

Risks & watch-outs

• Watch-outs: property tax is 3.5% of price; built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $58,922 (9.0% below list)

Questions for the listing agent

1. It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% 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. 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: 2.02% ✓
• Cap rate: 15.14%
• Cash-on-cash: 31.59%
• DSCR: 2.41
• GRM: 4.1

CMA / ARV

• ARV (median comp): $117,964
• List price: $64,750
• Delta: -45.11%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
601 Washington St	0.10mi	3/3.0 (-1)	2,008 (+0%)	9mo	$125,000	$62	78
200 W 6th St	0.10mi	3/2.0 (-1)	1,980 (-1%)	13mo	$164,697	$83	78
314 W 3rd St	0.28mi	3/2.0 (-1)	2,107 (+5%)	5mo	$128,000	$61	69
111 E 3rd St	0.21mi	4/2.0	1,827 (-9%)	9mo	$105,000	$57	68
506 Washington St	0.04mi	3/2.0 (-1)	1,796 (-10%)	20mo	$36,000	$20	60
609 Washington St	0.13mi	5/2.5 (+1)	2,282 (+14%)	5mo	$270,000	$118	59
403 W 3rd St	0.33mi	3/2.0 (-1)	1,920 (-4%)	18mo	$75,000	$39	58
316 W 3rd St	0.28mi	3/1.5 (-1)	1,832 (-8%)	21mo	$30,000	$16	48
102 Sunset Ln	0.43mi	3/2.0 (-1)	1,872 (-6%)	21mo	$360,000	$192	47
622 Woodlawn Dr	0.62mi	4/1.0	1,708 (-15%)	7mo	$162,000	$95	37

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: 26.6%
• Equity multiple: 2.10×
• Total profit: $19,995
• Equity at exit: $9,654

10-year hold

• IRR: 34.2%
• Equity multiple: 4.14×
• Total profit: $56,906
• Equity at exit: $5,598

Cash invested: $18,130 (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: 4.1×

Monthly cashflow live

• Estimated rent: $1,306 medium
• Mortgage (P&I): −$340
• Tax from tax record: −$188 /mo · $2,253/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$274
• Net cashflow: $477

Break-even live

Break-even rent $702

Max offer price $64,750

Occupancy floor 58%

Sensitivity live

Price	-10% $514	-5% $496	+0% $477	+5% $459	+10% $441
Rent	-10% $374	-5% $426	+0% $477	+5% $529	+10% $581
Rate	-1.0pp $510	-0.5pp $494	base $477	+0.5pp $461	+1.0pp $443

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: $16,188
• Closing costs: $1,942
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $64,750 Active 99 DOM
2. 2026-06-18
   days on market $64,750 Active 97 DOM
3. 2026-06-17
   days on market $64,750 Active 96 DOM
4. 2026-06-16
   days on market $64,750 Active 95 DOM
5. 2026-06-15
   days on market $64,750 Active 94 DOM
6. 2026-06-13
   days on market $64,750 Active 92 DOM
7. 2026-06-12
   days on market $64,750 Active 91 DOM
8. 2026-06-09
   days on market $64,750 Active 88 DOM
9. 2026-06-08
   days on market $64,750 Active 87 DOM
10. 2026-06-07
    days on market $64,750 Active 86 DOM
11. 2026-06-07
    days on market $64,750 Active 85 DOM
12. 2026-06-04
    days on market $64,750 Active 82 DOM
13. 2026-06-02
    days on market $64,750 Active 81 DOM
14. 2026-06-01
    days on market $64,750 Active 80 DOM
15. 2026-05-31
    days on market $64,750 Active 79 DOM
16. 2026-05-31
    days on market $64,750 Active 78 DOM
17. 2026-03-13
    listed $67,750 Active 653-char remark

    Show marketing remark (653 chars)

    Investor Opportunity! Zoned single family, but long ago it was set up as a up and down duplex. The lower level features a large kitchen, dining room and living room. Two bedrooms are joined by the bath. Original features include detailed woodwork (painted), arched doorway and stained glass. The second floor offers large rooms, and the bedroom has a 4'6 x 13'9 closet. Rear separate entrance for second floor but can also access from the main floor if desired. Situated on a large lot with plenty of parking and a garage for storage. Located within walking distance to downtown. Being sold "As Is". (Will not pass any government loans)

18. 2025-04-20
    historical
19. 2024-12-06
    price
20. 2024-10-21
    listed Active

ⓘ 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: $2,253 · $188/mo
• Projected year-2 tax: $2,253 · $188/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: $15,670
• − Mortgage interest: −$3,627
• − Property taxes: −$2,253
• − Insurance: −$324
• − Repairs & maintenance: −$1,254
• − Management: −$1,254
• − Depreciation: −$1,884
• Taxable income: $5,076
• Est. tax owed @ 24.0%: −$1,218
• After-tax cash flow: $4,510/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

4 events — show timeline

• 2026-03-13 Listed $67,750 MRED as Distributed by MLS Grid
• 2025-04-20 Listing Removed — MRED as Distributed by MLS Grid
• 2024-12-06 Price Changed — MRED as Distributed by MLS Grid
• 2024-10-21 Listed — MRED as Distributed by MLS Grid

Property tax history

+13.5%/yr

Latest (2024): $2,253 · +10.7% YoY. Source: county tax records.