536 W American St · Freeport, IL 61032

$79,000

4 bd · 1.5 ba · 1,456 sqft · SingleFamily · 58 Days on market

Built 1907 6,098 sqft lot $54/sqft · at area comps Est $79k · 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 +7.3/15.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Attention investors, rehabbers and buyers looking for sweat equity! This 2-story home offers 4 bedrooms, 1.5 bathrooms and a detached 1-car garage. The main floor features a primary bedroom, with three additional bedrooms upstairs, providing plenty of space and flexibility. New water heater. Home needs TLC and is being sold as-is. No FHA/VA.

Key facts

• New water heater
• 6,098 sq ft lot
• Garage

Tags

• NEW WATER HEATER

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residential house; 2 stories
• Exterior features: Shingle roof; Lot on approximately 0.14 acres

Interior

• Kitchen: Gas cooktop
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Hot water heating
• Interior features: Gas cooktop; Gas water heater; Full basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $79k.

Deal economics

• At list price, monthly cash flow is $401 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $79k).
• Recommended offer: $77k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.4% vs local median 5.8% in Freeport — 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 72/100 on livability (#302 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: schools F, commute F, employment F.
• Freeport SD 145 (town): math 11% / reading 12% proficiency, ranked #565 of 620 in IL (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 205 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 7 units permitted in Stephenson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $546 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Stephenson County population projected at -29% 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 ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($77k) 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 $63k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price; built in 1907 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $76,630 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1907 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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.
7. 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.
8. 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: 1.63% ✓
• Cap rate: 12.39%
• Cash-on-cash: 21.78%
• DSCR: 1.97
• GRM: 5.1

CMA / ARV

• ARV (median comp): $78,668
• List price: $79,000
• Delta: 0.42%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
430 W American St	0.09mi	4/2.0	1,378 (-5%)	2mo	$67,500	$49	84
316 W American St	0.19mi	3/1.0 (-1)	1,444 (-1%)	3mo	$67,000	$46	80
409 W Avon St	0.17mi	3/1.0 (-1)	1,490 (+2%)	3mo	$35,500	$24	78
503 W Pleasant St	0.24mi	3/1.0 (-1)	1,404 (-4%)	4mo	$38,250	$27	73
719 S Walnut Ave	0.27mi	3/1.0 (-1)	1,388 (-5%)	3mo	$150,000	$108	70
1256 S Oak St	0.40mi	3/1.0 (-1)	1,410 (-3%)	5mo	$35,000	$25	65
826 W Chestnut St	0.37mi	3/1.5 (-1)	1,526 (+5%)	5mo	$51,500	$34	65
816 W Pleasant St	0.45mi	3/1.5 (-1)	1,376 (-6%)	1mo	$149,900	$109	64
1607 S Highland Ave	0.71mi	4/1.5	1,476 (+1%)	2mo	$112,000	$76	63
1506 S Walnut Ave	0.48mi	3/1.5 (-1)	1,534 (+5%)	2mo	$144,900	$94	62
1440 S Chicago Ave	0.60mi	3/1.0 (-1)	1,410 (-3%)	5mo	$89,900	$64	56
327 W Garfield St	0.56mi	3/2.0 (-1)	1,650 (+13%)	2mo	$124,900	$76	43

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: 14.5%
• Equity multiple: 1.58×
• Total profit: $12,831
• Equity at exit: $11,779

10-year hold

• IRR: 23.3%
• Equity multiple: 3.00×
• Total profit: $44,346
• Equity at exit: $6,830

Cash invested: $22,120 (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 61032

• Home prices YoY: -19.5%
• Active inventory: 205
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,284 high
• Mortgage (P&I): −$414
• Tax from tax record: −$166 /mo · $1,988/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$270
• Net cashflow: $401

Break-even live

Break-even rent $776

Max offer price $79,000

Occupancy floor 64%

Sensitivity live

Price	-10% $446	-5% $424	+0% $401	+5% $379	+10% $357
Rent	-10% $300	-5% $351	+0% $401	+5% $452	+10% $503
Rate	-1.0pp $441	-0.5pp $422	base $401	+0.5pp $381	+1.0pp $360

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: $19,750
• Closing costs: $2,370
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
742 W Homer St Freeport, IL	3.0	1.0	1434	$1,325	$0.92	44d	1	0.26mi
816 S James Ave Freeport, IL	3.0	1.0	1152	$1,325	$1.15	44d	1	0.32mi
1645 Hilltop Pl Freeport, IL	3.0	1.0	1008	$1,000	$0.99	44d	1	0.61mi
1645 Hilltop Pl Unit 2 Freeport, IL	3.0	1.5	1008	$1,000	$0.99	44d	1	0.61mi
320 W Clark St Freeport, IL	4.0	1.0	1509	$1,395	$0.92	44d	1	0.63mi
435 N Apple Ave Freeport, IL	4.0	2.0	1500	$1,450	$0.97	44d	1	0.72mi

Listing history 19 events

1. 2026-06-21
   days on market $79,000 Active 58 DOM
2. 2026-06-18
   days on market $79,000 Active 56 DOM
3. 2026-06-17
   days on market $79,000 Active 55 DOM
4. 2026-06-16
   days on market $79,000 Active 54 DOM
5. 2026-06-15
   days on market $79,000 Active 53 DOM
6. 2026-06-13
   days on market $79,000 Active 51 DOM
7. 2026-06-12
   days on marketlisting id $79,000 Active 50 DOM
8. 2026-06-09
   days on market $79,000 Active 42 DOM
9. 2026-06-08
   days on market $79,000 Active 41 DOM
10. 2026-06-07
    days on market $79,000 Active 40 DOM
11. 2026-06-07
    pricedays on market $79,000 Active 39 DOM
12. 2026-06-04
    days on market $79,999 Active 36 DOM
13. 2026-06-02
    days on market $79,999 Active 35 DOM
14. 2026-06-01
    days on market $79,999 Active 34 DOM
15. 2026-05-31
    days on market $79,999 Active 33 DOM
16. 2026-05-31
    days on market $79,999 Active 32 DOM
17. 2026-04-28
    listed $79,999 Active 343-char remark

    Show marketing remark (343 chars)

    Attention investors, rehabbers and buyers looking for sweat equity! This 2-story home offers 4 bedrooms, 1.5 bathrooms and a detached 1-car garage. The main floor features a primary bedroom, with three additional bedrooms upstairs, providing plenty of space and flexibility. New water heater. Home needs TLC and is being sold as-is. No FHA/VA.

18. 2026-04-23
    listed $79,999 Active 343-char remark
19. 2023-10-05
    soldstatus $63,000

ⓘ 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: $1,988 · $166/mo
• Projected year-2 tax: $1,988 · $166/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 6/10 Major FEMA zone X (unshaded) · 68% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,409
• − Mortgage interest: −$4,425
• − Property taxes: −$1,988
• − Insurance: −$395
• − Repairs & maintenance: −$1,233
• − Management: −$1,233
• − Depreciation: −$2,298
• Taxable income: $3,836
• Est. tax owed @ 24.0%: −$921
• After-tax cash flow: $3,897/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: Freeport SD 145
• NCES district ID: 1715900
• Math proficiency: 11% ▼ -3.00%
• Reading proficiency: 12% ▼ -5.00%
• Median HH income: $39,803
• Composite: 9.89/100
• National rank: #9821
• State rank: #565 of 620 in IL

Livability — Freeport

• Score: 72/100
• State rank: #302
• US rank: #5927

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Freeport, IL
• Population (ZIP): 29,072

Population outlook (Stephenson County) Hauer SSP2

• Today (2025): 41,802 people
• By 2030: 39,487 · -5.5%
• By 2040: 34,534 · -17.4%
• By 2050: 29,693 · -29.0%
• By 2075: 21,196 · -49.3%
• By 2100: 14,596 · -65.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Black 12% Two or more races 10% Hispanic / Latino 6% Asian 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Iranian 3% Romanian 2% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3% Other Indo-European 1%

Political lean MEDSL · Stephenson

• 2024 margin: R (+19.4) · D 39.5% · R 58.9% · Other 1.6%
• 2008→2024 swing: -26.1pp toward R · 2008: 6.7pp · 2024: -19.4pp
• All cycles: 2024: R+19.4 2020: R+15.7 2016: R+17.0 2012: R+4.6 2008: D+6.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -39.75%
• Current HPI: 163.677
• 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

+25.4% since first listed

5 events — show timeline

• 2026-06-05 Price Changed $79,000 NWIAR
• 2026-06-05 Price Changed $79,000 MRED as Distributed by MLS Grid
• 2026-04-28 Listed $79,999 MRED as Distributed by MLS Grid
• 2026-04-23 Listed $79,999 NWIAR
• 2023-10-05 Sold (Public Records) $63,000 Public Records

Property tax history

+9.5%/yr

Latest (2024): $1,988 · -6.5% YoY. Source: county tax records.