24951 Clare Cir · Manhattan, IL 60442

$251,500

2 bd · 1.5 ba · 1,611 sqft · Other public records · 112 Days on market

Built 2006 $205/mo HOA · 7% of rent ↓ 1% since listing

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Why this score? — see what drove the D- 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 +10.3/30.0
• ARV discount +7.5/15.0
• 1% rule +5.9/10.0
• Schools +4.3/10.0
• Livability +3.5/5.0
• DSCR +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Experience effortless living in this llght-filled, 2 bedroom, one and one half bathroom townhome. Beautifully maintained and perfectly situated adjacent to a park, this home offers the perfect blend of modern convenience and a peaceful suburban setting. An expansive living room flows seamlessly in to the dining area, creating a perfect environment for entertaining. Sliding glass doors lead from the dining area to a large concrete patio area, ideal for summer BBQ's and relaxing outdoors. The kitchen is well-appointed and functional featuring a brand new faucet and garbage-disposal (2026). The main floor includes a stylish half bath and direct access to the attached 2 car garage. Second level

Key facts

• Large concrete patio
• Garbage-disposal
• Adjacent to a park

Tags

• OPEN CONCEPT TOWNHOME
• ADJACENT TO A PARK
• LARGE CONCRETE PATIO
• BRAND NEW FAUCET
• GARBAGE-DISPOSAL
• VERSATILE LOFT

Property features AI

Finance

• Other: School bus service available; Special service area (T)
• HOA & community: Monthly association fee of $195; Master association fee $120 yearly; HOA covers insurance, lawn care, and snow removal; Community amenities include a park; Manager off-site; Pets allowed (cats and dogs OK) with deposit and number limits

Exterior

• Parking: Attached garage with 2 garage spaces and garage door opener; Asphalt driveway; 2 total parking spaces
• Utilities: Public water; Public sewer
• Home design: Attached single — townhouse, 2-story; Entry at level 1; Fee simple ownership with HOA; Part of a 6-unit building; Subdivision: Brookstone Springs
• Construction: Vinyl siding and brick exterior; Building age approximately 16–20 years
• Exterior features: Patio

Interior

• Kitchen: Range; Microwave; Dishwasher; Refrigerator; Disposal
• Bedrooms: Master bedroom on second level (14 x 13) with window treatments; Second bedroom on second level (11 x 10) with blinds; Loft on second level (18 x 19)
• Flooring: Carpet in living areas and bedrooms; Vinyl in kitchen, dining room and laundry
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Natural gas forced air heating; Central air conditioning
• Interior features: Walk-in closet(s); Drapes; 6 total rooms
• Laundry & utility: In-unit laundry on upper level (washer and dryer included)

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath other listed at $252k.

Deal economics

• At list price, monthly cash flow is $-138 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $227k (9.7% below list).
• Meets the 1% rule at list price ($3k rent vs $252k).
• Recommended offer: $227k (9.7% below list) — sets the bar for cash-flow.
• Cap rate 5.6% vs local median 2.5% in Manhattan — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 69/100 on livability (#396 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Lincoln Way Chsd 210 (suburban): math 44% / reading 49% proficiency, ranked #60 of 620 in IL (top 10%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 113 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,028 units permitted in Will County in 2024 (530 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Will County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 112 days — a 9% lower offer ($229k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price.

Recommended offer $227,083 (9.7% 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 112 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
8. 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?
9. 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.
10. 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.
11. 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: 1.09% ✓
• Cap rate: 5.63%
• Cash-on-cash: -2.36%
• DSCR: 0.90
• GRM: 7.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -20.0%
• Equity multiple: 0.30×
• Total profit: $-49,167
• Equity at exit: $37,499

10-year hold

• IRR: -12.6%
• Equity multiple: 0.25×
• Total profit: $-52,565
• Equity at exit: $21,745

Cash invested: $70,420 (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 60442

• Home prices YoY: -9.3%
• Active inventory: 113
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $2,743 medium
• Mortgage (P&I): −$1,319
• Tax from tax record: −$676 /mo · $8,118/yr
• Insurance: −$105
• HOA: −$205
• Vacancy / Maint / Mgmt: −$576
• Net cashflow: $-138

Break-even live

Break-even rent $2,918

Max offer price $227,083

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: $62,875
• Closing costs: $7,545
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15030 W Cyrus Dr Manhattan, IL	3.0	2.5	1760	$2,900	$1.65	44d	1	0.48mi
15749 W Crobally Way Manhattan, IL	2.0	2.5	1508	$2,900	$1.92	44d	1	0.68mi
25273 Faraday Rd Manhattan, IL	2.0	1.5	1274	$2,250	$1.77	10d	1	0.76mi

HOA detail

• Monthly dues: $205 · $2,460/yr
• Likely covers: trash

Listing history 17 events

1. 2026-06-18
   days on market $251,500 Active 112 DOM
2. 2026-06-17
   days on market $251,500 Active 111 DOM
3. 2026-06-16
   days on market $251,500 Active 110 DOM
4. 2026-06-15
   days on market $251,500 Active 109 DOM
5. 2026-06-13
   days on market $251,500 Active 107 DOM
6. 2026-06-13
   days on market $251,500 Active 106 DOM
7. 2026-06-10
   price $251,500 Active 103 DOM
8. 2026-06-09
   days on market $252,000 Active 103 DOM
9. 2026-06-08
   days on market $252,000 Active 102 DOM
10. 2026-06-07
    statusdays on market $252,000 Active 101 DOM
11. 2026-06-04
    statusdays on market $252,000 Contingent - Continue to Show 98 DOM
12. 2026-06-03
    days on market $252,000 Active 97 DOM
13. 2026-06-02
    days on market $252,000 Active 96 DOM
14. 2026-06-01
    days on market $252,000 Active 95 DOM
15. 2026-05-31
    days on market $252,000 Active 94 DOM
16. 2026-04-23
    price $252,000
17. 2026-02-26
    listed $255,000 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: $8,118 · $676/mo
• Projected year-2 tax: $8,118 · $676/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 ≥102°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: $32,916
• − Mortgage interest: −$14,088
• − Property taxes: −$8,118
• − Insurance: −$1,258
• − Repairs & maintenance: −$2,633
• − Management: −$2,633
• − HOA: −$2,460
• − Depreciation: −$7,316
• Taxable loss: −$5,590
• Est. tax savings @ 24.0%: +$1,342
• After-tax cash flow: $-317/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: Lincoln Way Chsd 210
• NCES district ID: 1723070
• Math proficiency: 44% ▼ -13.00%
• Reading proficiency: 49% ▼ -9.00%
• Median HH income: $86,879
• Composite: 43.4/100
• National rank: #3019
• State rank: #60 of 620 in IL

Livability — Manhattan

• Score: 69/100
• State rank: #396
• US rank: #8289

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Manhattan, IL
• City population: 13,467
• Population (ZIP): 13,467

Population outlook (Will County) Hauer SSP2

• Today (2025): 705,368 people
• By 2030: 708,154 · +0.4%
• By 2040: 702,692 · -0.4%
• By 2050: 680,249 · -3.6%
• By 2075: 611,990 · -13.2%
• By 2100: 516,215 · -26.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 11% Hispanic / Latino 10% Black 3%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Romanian 15% Iranian 3% Portuguese 1%
• Foreign-born: 4% · Canada
• Languages at home: 91% English-only · Spanish 5% Russian/Polish/Slavic 3%

Political lean MEDSL · Will

• 2024 margin: Toss-up / Even · D 50.1% · R 48.5% · Other 1.4%
• 2008→2024 swing: -11.6pp toward R · 2008: 13.2pp · 2024: 1.6pp
• All cycles: 2024: D+1.6 2020: D+8.3 2016: D+5.7 2012: D+3.7 2008: D+13.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -23.77%
• Current HPI: 232.3641
• 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

-1.2% since first listed

2 events — show timeline

• 2026-04-23 Price Changed $252,000 MRED as Distributed by MLS Grid
• 2026-02-26 Listed $255,000 MRED as Distributed by MLS Grid

Property tax history

+2.3%/yr

Latest (2024): $8,118 · +1.4% YoY. Source: county tax records.