303 W Market St · Forest City, IL 61532-0000

$79,900

2 bd · 1.0 ba · 1,228 sqft · SingleFamily · 89 Days on market

Built 1899 0.96 ac lot $65/sqft · at area comps Est $83k · at est.

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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 +9.1/15.0
• Appreciation +5.0/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0

Listing remarks MLS

If you are looking for a property that is setting on a fenced .9 of an acre on the edge of town, you need to take a look at 303 North Market Street in Forest City. While the home needs some TLC, has a lot to offer including an upgraded roof, a furnace that is 6 months old, and replacement windows on the main level. We would ask that option one be selected on any inspections. Selling AS IS.

Key facts

• Fenced .9 of an acre
• All appliances stay
• Upgraded roof

Tags

• FENCED .9 OF AN ACRE
• UPGRADED ROOF
• FURNACE THAT IS 6 MONTHS OLD
• ALL APPLIANCES STAY

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $505 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $75k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 56/100 on livability (#1,219 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: employment D, schools F, crime F.
• Midwest Central CUSD 191 (rural): math 19% / reading 23% proficiency, ranked #398 of 620 in IL (top 64%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 1 active listings in the ZIP; 7 units permitted in Mason County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($552 loan paydown + $2k appreciation (3.0% local appreciation)).
• Mason County population projected at -30% 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 $22k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 89 days — a 6% lower offer ($75k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1899 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $75,106 (6.0% below list)

Questions for the listing agent

1. It's been on market 89 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1899 — 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 F 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: 1.56% ✓
• Cap rate: 13.87%
• Cash-on-cash: 27.07%
• DSCR: 2.20
• GRM: 5.3

CMA / ARV

• ARV (median comp): $82,916
• List price: $79,900
• Delta: -3.64%
• Verdict: FAIR
• Comps: 4 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 33.0%
• Equity multiple: 2.87×
• Total profit: $41,745
• Equity at exit: $35,926

10-year hold

• IRR: 33.3%
• Equity multiple: 5.63×
• Total profit: $103,534
• Equity at exit: $55,367

Cash invested: $22,372 (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 61532-0000

• Active inventory: 1
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,246 medium
• Mortgage (P&I): −$419
• Tax from tax record: −$28 /mo · $331/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $505

Break-even live

Break-even rent $607

Max offer price $79,900

Occupancy floor 55%

Sensitivity live

Price	-10% $550	-5% $527	+0% $505	+5% $482	+10% $459
Rent	-10% $406	-5% $455	+0% $505	+5% $554	+10% $603
Rate	-1.0pp $545	-0.5pp $525	base $505	+0.5pp $484	+1.0pp $463

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $79,900 Active 89 DOM
2. 2026-06-19
   days on market $79,900 Active 87 DOM
3. 2026-06-18
   days on market $79,900 Active 86 DOM
4. 2026-06-17
   days on market $79,900 Active 85 DOM
5. 2026-06-16
   days on market $79,900 Active 84 DOM
6. 2026-06-15
   days on market $79,900 Active 83 DOM
7. 2026-06-14
   days on market $79,900 Active 81 DOM
8. 2026-06-13
   days on market $79,900 Active 80 DOM
9. 2026-06-10
   days on market $79,900 Active 78 DOM
10. 2026-06-09
    days on market $79,900 Active 77 DOM
11. 2026-06-08
    days on market $79,900 Active 76 DOM
12. 2026-06-07
    days on market $79,900 Active 75 DOM
13. 2026-06-05
    days on market $79,900 Active 72 DOM
14. 2026-06-02
    days on market $79,900 Active 70 DOM
15. 2026-06-01
    days on market $79,900 Active 69 DOM
16. 2026-05-31
    days on market $79,900 Active 68 DOM
17. 2026-05-30
    days on market $79,900 Active 67 DOM
18. 2026-03-24
    listed $99,900 Active 392-char remark

    Show marketing remark (392 chars)

    If you are looking for a property that is setting on a fenced .9 of an acre on the edge of town, you need to take a look at 303 North Market Street in Forest City. While the home needs some TLC, has a lot to offer including an upgraded roof, a furnace that is 6 months old, and replacement windows on the main level. We would ask that option one be selected on any inspections. Selling AS IS.

ⓘ 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: $331 · $28/mo
• Projected year-2 tax: $1,072 · $89/mo
• Expected delta: +$741/yr (+$62/mo · 224.2%)

ⓘ 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 ≥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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,955
• − Mortgage interest: −$4,476
• − Property taxes: −$331
• − Insurance: −$400
• − Repairs & maintenance: −$1,196
• − Management: −$1,196
• − Depreciation: −$2,324
• Taxable income: $5,032
• Est. tax owed @ 24.0%: −$1,208
• After-tax cash flow: $4,849/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: Midwest Central CUSD 191
• NCES district ID: 1743962
• Math proficiency: 19% ▼ -5.00%
• Reading proficiency: 23% ▼ -6.00%
• Median HH income: $52,499
• Composite: 18.97/100
• National rank: #8852
• State rank: #398 of 620 in IL

Livability — Forest City

• Score: 56/100
• State rank: #1219
• US rank: #22940

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Forest City, IL

Population outlook (Mason County) Hauer SSP2

• Today (2025): 12,087 people
• By 2030: 11,283 · -6.7%
• By 2040: 9,766 · -19.2%
• By 2050: 8,421 · -30.3%
• By 2075: 5,785 · -52.1%
• By 2100: 3,888 · -67.8%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

1 event — show timeline

• 2026-03-24 Listed $99,900 RMLSA as Distributed by MLS Grid

Property tax history

+1.4%/yr

Latest (2024): $331 · -3.3% YoY. Source: county tax records.