609 S Illinois St · Lewistown, IL 61542

$34,900

2 bd · 1.0 ba · 776 sqft · Other · 36 Days on market

0.30 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
• ARV discount +7.5/15.0
• Appreciation +4.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0

Listing remarks MLS

Cute little charmer, move right in and make it your own cozy little nest. Fabulous size yard to do whatever you want, build on, put up a garage, put up a building...heck do it all!!! This open floor plan home offers new carpet and new inside doors to bedrooms and bath. The stove, washer, dryer and ventless heater stay but are NOT WARRANTED. 2 Older metal sheds on property. HOME IS BEING SOLD AS IS. WATER IS OFF

Key facts

• Size yard
• Open floor plan
• New carpet

Tags

• SIZE YARD
• OPEN FLOOR PLAN
• NEW CARPET
• NEW INSIDE DOORS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $35k.

Deal economics

• At list price, monthly cash flow is $411 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($844 rent vs $35k).
• Recommended offer: $34k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#756 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: schools F, amenities F, commute F.
• Lewistown CUSD 97 (rural): math 11% / reading 14% proficiency, ranked #546 of 620 in IL (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 22 active listings in the ZIP; 14 units permitted in Fulton County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-2.0%/yr); year-one equity from $241 of loan paydown is wiped out by about $688 of value loss. Plan a longer hold.
• Fulton County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-2.0% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($34k) 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 $27k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $33,853 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 2.42% ✓
• Cap rate: 20.42%
• Cash-on-cash: 50.45%
• DSCR: 3.24
• GRM: 3.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-1.97% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 49.5%
• Equity multiple: 3.26×
• Total profit: $22,059
• Equity at exit: $6,826

10-year hold

• IRR: 54.0%
• Equity multiple: 6.56×
• Total profit: $54,353
• Equity at exit: $5,879

Cash invested: $9,772 (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 61542

• Home prices YoY: -1.3%
• Active inventory: 22
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $844 medium
• Mortgage (P&I): −$183
• Tax from tax record: −$59 /mo · $702/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$177
• Net cashflow: $411

Break-even live

Break-even rent $324

Max offer price $34,900

Occupancy floor 46%

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: $8,725
• Closing costs: $1,047
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-05-05
   status Pending 416-char remark

   Show marketing remark (416 chars)

   Cute little charmer, move right in and make it your own cozy little nest. Fabulous size yard to do whatever you want, build on, put up a garage, put up a building...heck do it all!!! This open floor plan home offers new carpet and new inside doors to bedrooms and bath. The stove, washer, dryer and ventless heater stay but are NOT WARRANTED. 2 Older metal sheds on property. HOME IS BEING SOLD AS IS. WATER IS OFF

2. 2026-05-01
   status Active 416-char remark

   Show marketing remark (416 chars)

   Cute little charmer, move right in and make it your own cozy little nest. Fabulous size yard to do whatever you want, build on, put up a garage, put up a building...heck do it all!!! This open floor plan home offers new carpet and new inside doors to bedrooms and bath. The stove, washer, dryer and ventless heater stay but are NOT WARRANTED. 2 Older metal sheds on property. HOME IS BEING SOLD AS IS. WATER IS OFF

3. 2026-04-01
   status Pending 416-char remark

   Show marketing remark (416 chars)

   Cute little charmer, move right in and make it your own cozy little nest. Fabulous size yard to do whatever you want, build on, put up a garage, put up a building...heck do it all!!! This open floor plan home offers new carpet and new inside doors to bedrooms and bath. The stove, washer, dryer and ventless heater stay but are NOT WARRANTED. 2 Older metal sheds on property. HOME IS BEING SOLD AS IS. WATER IS OFF

4. 2026-02-20
   listed $34,900 Active 416-char remark

   Show marketing remark (416 chars)

   Cute little charmer, move right in and make it your own cozy little nest. Fabulous size yard to do whatever you want, build on, put up a garage, put up a building...heck do it all!!! This open floor plan home offers new carpet and new inside doors to bedrooms and bath. The stove, washer, dryer and ventless heater stay but are NOT WARRANTED. 2 Older metal sheds on property. HOME IS BEING SOLD AS IS. WATER IS OFF

5. 2008-06-12
   soldstatus $27,000
6. 2008-01-30
   soldstatus $10,000

ⓘ 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: $702 · $59/mo
• Projected year-2 tax: $747 · $62/mo
• Expected delta: +$45/yr (+$4/mo · 6.4%)

ⓘ 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 · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $10,130
• − Mortgage interest: −$1,955
• − Property taxes: −$702
• − Insurance: −$174
• − Repairs & maintenance: −$810
• − Management: −$810
• − Depreciation: −$1,015
• Taxable income: $4,663
• Est. tax owed @ 24.0%: −$1,119
• After-tax cash flow: $3,811/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: Lewistown CUSD 97
• NCES district ID: 1700153
• Math proficiency: 11% ▼ -5.00%
• Reading proficiency: 14% ▼ -8.00%
• Median HH income: $45,704
• Composite: 11.28/100
• National rank: #9719
• State rank: #546 of 620 in IL

Livability — Lewistown

• Score: 63/100
• State rank: #756
• US rank: #15307

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lewistown, IL
• Population (ZIP): 3,306

Population outlook (Fulton County) Hauer SSP2

• Today (2025): 33,356 people
• By 2030: 32,144 · -3.6%
• By 2040: 29,518 · -11.5%
• By 2050: 26,775 · -19.7%
• By 2075: 19,972 · -40.1%
• By 2100: 13,580 · -59.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Asian 2% Two or more races 2%
• Common ancestry: Lithuanian 3% Portuguese 2% Iranian 2%
• Foreign-born: 2% · China
• Languages at home: 98% English-only · Chinese 1%

Political lean MEDSL · Fulton

• 2024 margin: Strong R (+23.8) · D 37.1% · R 60.9% · Other 2.0%
• 2008→2024 swing: -45.2pp toward R · 2008: 21.3pp · 2024: -23.8pp
• All cycles: 2024: R+23.8 2020: R+20.1 2016: R+15.1 2012: D+11.1 2008: D+21.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -1.97%
• Current HPI: 146.1702
• 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

+249.0% since first listed

6 events — show timeline

• 2026-05-05 Pending — RMLSA as Distributed by MLS Grid
• 2026-05-01 Relisted — RMLSA as Distributed by MLS Grid
• 2026-04-01 Pending — RMLSA as Distributed by MLS Grid
• 2026-02-20 Listed $34,900 RMLSA as Distributed by MLS Grid
• 2008-06-12 Sold (Public Records) $27,000 Public Records
• 2008-01-30 Sold (Public Records) $10,000 Public Records

Property tax history

+6.5%/yr

Latest (2024): $702 · -5.3% YoY. Source: county tax records.