75 N County Road 830 N · Lima, IL 62351

$49,000

2 bd · 1.0 ba · 1,160 sqft · SingleFamily · 251 Days on market

Built 1900 0.80 ac lot

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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
• Appreciation +8.0/10.0
• ARV discount +7.5/15.0
• Livability +3.1/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This home is a sharp home with a new furnace in 2005. New roof in 1995; new vinyl siding in 2000 & public water. There are several outbuildings. The property has 4 lots, including corner lots which could be sold. There is attic storage. Home warranty--one year. 2nd Parcel # 22-32-000-471. The home is located in Warsaw School District, which is about 20 minutes away from the home.

Key facts

• Woodwork
• Water heater
• Large pantry

Tags

• HIGH EFFICIENT FURNACE
• WATER HEATER
• LARGE PANTRY
• HARDWOOD FLOORS
• WOODWORK
• CORNER LOT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $49k.

Deal economics

• At list price, monthly cash flow is $515 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $49k).
• Recommended offer: $43k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#826 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B; Watch: crime D, schools F, amenities F.
• 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: 7 active listings in the ZIP.

Forward outlook

• In year one you build about $3k of equity ($339 loan paydown + $3k appreciation (5.9% 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 (5.9% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 251 days — a 12% lower offer ($43k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 21y ago; this cycle's ask has dropped $11k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $38k; 31% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $43,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 251 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 1900 — 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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 2.09% ✓
• Cap rate: 18.91%
• Cash-on-cash: 45.07%
• DSCR: 3.01
• GRM: 4.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.93% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 54.2%
• Equity multiple: 4.41×
• Total profit: $46,747
• Equity at exit: $30,586

10-year hold

• IRR: 51.1%
• Equity multiple: 9.15×
• Total profit: $111,838
• Equity at exit: $55,278

Cash invested: $13,720 (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 62351

• Home prices YoY: 3.7%
• Active inventory: 7
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,024 medium
• Mortgage (P&I): −$257
• Tax from tax record: −$16 /mo · $193/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$215
• Net cashflow: $515

Break-even live

Break-even rent $371

Max offer price $49,000

Occupancy floor 45%

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: $12,250
• Closing costs: $1,470
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-03-16
   status Pending
2. 2025-12-02
   status Active
3. 2025-12-02
   historical
4. 2025-11-14
   price $49,000
5. 2025-08-29
   price $55,000
6. 2025-07-07
   listed $60,000 Active
7. 2005-10-21
   soldstatus $37,500 386-char remark

   Show marketing remark (386 chars)

   This home is a sharp home with a new furnace in 2005. New roof in 1995; new vinyl siding in 2000 & public water. There are several outbuildings. The property has 4 lots, including corner lots which could be sold. There is attic storage. Home warranty--one year. 2nd Parcel # 22-32-000-471. The home is located in Warsaw School District, which is about 20 minutes away from the home.

8. 2005-05-04
   listed $39,900 386-char remark

   Show marketing remark (386 chars)

   This home is a sharp home with a new furnace in 2005. New roof in 1995; new vinyl siding in 2000 & public water. There are several outbuildings. The property has 4 lots, including corner lots which could be sold. There is attic storage. Home warranty--one year. 2nd Parcel # 22-32-000-471. The home is located in Warsaw School District, which is about 20 minutes away from the home.

ⓘ 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: $193 · $16/mo
• Projected year-2 tax: $653 · $54/mo
• Expected delta: +$460/yr (+$38/mo · 237.8%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥106°F today · 17 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: $12,285
• − Mortgage interest: −$2,745
• − Property taxes: −$193
• − Insurance: −$245
• − Repairs & maintenance: −$983
• − Management: −$983
• − Depreciation: −$1,425
• Taxable income: $5,711
• Est. tax owed @ 24.0%: −$1,371
• After-tax cash flow: $4,813/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 — Lima

• Score: 62/100
• State rank: #826
• US rank: #16294

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,026

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 (99%)
• Race & ethnicity: White 99%
• Common ancestry: Lithuanian 1% Scottish 1% Romanian 1%
• Foreign-born: 0%

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: ▲ 5.93%
• Current HPI: 166.7847
• 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

+22.8% since first listed

8 events — show timeline

• 2026-03-16 Pending — RMLSA as Distributed by MLS Grid
• 2025-12-02 Relisted — RMLSA as Distributed by MLS Grid
• 2025-12-02 Listing Removed — RMLSA as Distributed by MLS Grid
• 2025-11-14 Price Changed $49,000 RMLSA as Distributed by MLS Grid
• 2025-08-29 Price Changed $55,000 RMLSA as Distributed by MLS Grid
• 2025-07-07 Listed $60,000 RMLSA as Distributed by MLS Grid
• 2005-10-21 Sold (MLS) $37,500 RMLSA as Distributed by MLS Grid
• 2005-05-04 Listed $39,900 RMLSA as Distributed by MLS Grid

Property tax history

+1.3%/yr

Latest (2024): $193 · +13.5% YoY. Source: county tax records.