3305 Selmaville Rd · Salem, IL 62881

$159,900

4 bd · 2.0 ba · 999 sqft · SingleFamily public records · 45 Days on market

Built 1975 0.60 ac lot Est $131k · 22% over

---

Why this score? — see what drove the F 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 +8.5/30.0
• Livability +3.4/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0
• 1% rule +2.0/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

3 bedroom home, country setting. With some TLC this would make a great family home in a K-8 school district none

Key facts

• Huge walk-in closet
• Spacious kitchen
• New countertops

Tags

• REMODELED HOME
• SPACIOUS KITCHEN
• UPDATED CABINETRY
• NEW COUNTERTOPS
• MODERN FIXTURES
• HUGE WALK-IN CLOSET

Property features AI

Finance

• Other: Fee simple ownership; Not rebuilt; Possession at closing
• Financial info: No special service area

Exterior

• Parking: Gravel parking
• Utilities: Public water; Septic tank sewer; 100 Amp electrical service
• Home design: Detached single-family home; One-story
• Construction: Built 41–50 years ago; Vinyl siding with frame construction; Foundation: Other
• Exterior features: Lot dimensions approximately 100 x 260; Lot smaller than 0.25 acre; Lot features listed as other

Interior

• Kitchen: Kitchen on main level (13 x 17) with laminate flooring
• Bedrooms: 4 bedrooms (all on the main level); Bedroom dimensions include 11 x 11, 11 x 10, and 17 x 21; Master bedroom 11 x 11
• Flooring: Carpet in living room and bedrooms; Laminate in kitchen
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air; Heating: Other
• Interior features: Egress window in basement

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $-141 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $135k (15.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $112k (29.7% below list).
• Recommended offer: $112k (29.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 68/100 on livability (#467 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D, amenities F, commute F.
• Salem Chsd 600 (town): math 25% / reading 30% proficiency, ranked #571 of 919 in IL (top 62%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 48 active listings in the ZIP; 2 units permitted in Marion County in 2024 (0 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.
• Marion County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 9y ago; this cycle's ask is 435% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $30k; list at $160k implies a 433% gain — meaningful room to come down on a strong offer.

Recommended offer $112,380 (29.7% 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 45 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
3. Built in 1975 — 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. 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?
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: 0.70% ✗
• Cap rate: 5.24%
• Cash-on-cash: -3.77%
• DSCR: 0.83
• GRM: 11.9

CMA / ARV

• ARV (on-the-fly): $130,869
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3287 Selmaville Rd Rd	0.03mi	3/1.5 (-1)	990 (-1%)	3mo	$130,000	$131	88

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: -22.7%
• Equity multiple: 0.22×
• Total profit: $-34,895
• Equity at exit: $23,842

10-year hold

• IRR: -17.0%
• Equity multiple: 0.06×
• Total profit: $-42,039
• Equity at exit: $13,825

Cash invested: $44,772 (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 62881

• Home prices YoY: -28.0%
• Active inventory: 48
• Price-to-rent: 11.9×

Monthly cashflow live

• Estimated rent: $1,124 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$123 /mo · $1,479/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$236
• Net cashflow: $-141

Break-even live

Break-even rent $1,302

Max offer price $135,063

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-05-04
   status Pending
2. 2026-05-01
   status Active
3. 2026-04-23
   historical
4. 2026-04-07
   status Active
5. 2026-01-12
   status Pending
6. 2025-12-16
   price
7. 2025-12-16
   status Active
8. 2025-12-16
   historical
9. 2025-11-26
   historical Under Contract
10. 2025-11-15
    price
11. 2025-10-23
    listed Active
12. 2017-07-18
    soldstatus $30,000 112-char remark

    Show marketing remark (112 chars)

    3 bedroom home, country setting. With some TLC this would make a great family home in a K-8 school district none

13. 2017-07-18
    soldstatus $30,000 112-char remark

    Show marketing remark (112 chars)

    3 bedroom home, country setting. With some TLC this would make a great family home in a K-8 school district none

14. 2017-07-18
    soldstatus

    Show marketing remark (112 chars)

    3 bedroom home, country setting. With some TLC this would make a great family home in a K-8 school district none

15. 2017-04-15
    listed $29,900 112-char remark

    Show marketing remark (112 chars)

    3 bedroom home, country setting. With some TLC this would make a great family home in a K-8 school district none

16. 2017-04-15
    listed $29,900 112-char remark

    Show marketing remark (112 chars)

    3 bedroom home, country setting. With some TLC this would make a great family home in a K-8 school district none

ⓘ 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: $1,479 · $123/mo
• Projected year-2 tax: $2,554 · $213/mo
• Expected delta: +$1,075/yr (+$90/mo · 72.7%)

ⓘ 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 4/10 Moderate 7 d/yr ≥106°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $13,486
• − Mortgage interest: −$8,957
• − Property taxes: −$1,479
• − Insurance: −$800
• − Repairs & maintenance: −$1,079
• − Management: −$1,079
• − Depreciation: −$4,652
• Taxable loss: −$4,559
• Est. tax savings @ 24.0%: +$1,094
• After-tax cash flow: $-593/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: Salem Chsd 600
• NCES district ID: 1735190
• Math proficiency: 25% ▲ 10.00%
• Reading proficiency: 30% ▲ 5.00%
• Median HH income: $39,305
• Composite: 26.04/100
• National rank: #12738
• State rank: #571 of 919 in IL

Livability — Salem

• Score: 68/100
• State rank: #467
• US rank: #9634

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 11,218
• Population (ZIP): 11,218

Population outlook (Marion County) Hauer SSP2

• Today (2025): 36,071 people
• By 2030: 34,598 · -4.1%
• By 2040: 31,754 · -12.0%
• By 2050: 28,912 · -19.8%
• By 2075: 22,527 · -37.5%
• By 2100: 16,455 · -54.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Black 3% Two or more races 2%
• Common ancestry: Romanian 2% Italian 2% Iranian 2%
• Foreign-born: 1%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Marion

• 2024 margin: Solid R (+49.5) · D 24.6% · R 74.1% · Other 1.4%
• 2008→2024 swing: -47.5pp toward R · 2008: -2.0pp · 2024: -49.5pp
• All cycles: 2024: R+49.5 2020: R+46.6 2016: R+44.9 2012: R+19.2 2008: R+2.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -63.16%
• Current HPI: 162.55
• 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

+0.3% since first listed

16 events — show timeline

• 2026-05-04 Pending — MRED as Distributed by MLS Grid
• 2026-05-01 Relisted — MRED as Distributed by MLS Grid
• 2026-04-23 Listing Removed — MRED as Distributed by MLS Grid
• 2026-04-07 Relisted — MRED as Distributed by MLS Grid
• 2026-01-12 Pending — MRED as Distributed by MLS Grid
• 2025-12-16 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-12-16 Relisted — RMLSA as Distributed by MLS Grid
• 2025-12-16 Listing Removed — RMLSA as Distributed by MLS Grid
• 2025-11-26 Contingent — RMLSA as Distributed by MLS Grid
• 2025-11-15 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-10-23 Listed — RMLSA as Distributed by MLS Grid
• 2017-07-18 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2017-07-18 Sold (MLS) $30,000 RMLSA as Distributed by MLS Grid
• 2017-07-18 Sold (MLS) $30,000 MRED as Distributed by MLS Grid
• 2017-04-15 Listed $29,900 RMLSA as Distributed by MLS Grid
• 2017-04-15 Listed $29,900 MRED as Distributed by MLS Grid

Property tax history

-0.3%/yr

Latest (2024): $1,479 · -2.0% YoY. Source: county tax records.