408 S Johnson St · Macomb, IL 61455

$70,000

2 bd · 1.0 ba · 1,001 sqft · SingleFamily public records · 110 Days on market

Built 1931 7,615 sqft lot Est $71k · at est. ↓ 11% since listing

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Why this score? — see what drove the C+ 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 +27.5/30.0
• DSCR +9.6/10.0
• ARV discount +8.2/15.0
• 1% rule +7.5/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks

Charming brick bungalow in the heart of Macomb featuring 2 bedrooms, 1 bath, and a full basement. Enjoy a spacious floorplan plus peace of mind with a newer furnace and new shingles (2025). Property is being sold as-is with no repairs or warranties. Call today to schedule your showing!

Key facts

• 7,615 sq ft lot
• Garage
• Built 1931

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential zoning; Shingle roof; Built in 1931
• Construction: Full, unfinished basement; Not new construction
• Exterior features: Level lot; Paved road access

Interior

• Kitchen: Kitchen with vinyl flooring; Refrigerator included
• Bedrooms: 2 bedrooms (both on the main level; each with egress windows); Bedroom 1 approx. 11.03 x 10.1 with hardwood flooring; Bedroom 2 approx. 11.03 x 11.03 with hardwood flooring
• Flooring: Hardwood in bedrooms; Carpet in living and dining areas; Vinyl in kitchen
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Full, unfinished basement; Shed(s); No fireplaces
• Laundry & utility: Washer and dryer included; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $207 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($874 rent vs $70k).
• Recommended offer: $64k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.8% vs local median 6.2% in Macomb — 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 70/100 on livability (#379 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B; Watch: crime D, amenities D, commute F.
• Macomb CUSD 185 (town): math 19% / reading 26% proficiency, ranked #410 of 620 in IL (top 66%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Macomb Senior High School (math 27% / reading 37%, grade F, #157 of 693 statewide, top 25%, 622 students, 0% FRL) — zoned schools average 0% FRL vs 40% district-wide (40 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 135 active listings in the ZIP; 2 comparable units currently listed for rent nearby.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $484 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 110 days — a 9% lower offer ($64k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1931 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $63,700 (9.0% below list)

Questions for the listing agent

1. It's been on market 110 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1931 — 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 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. Crime grade is D 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: 1.25% ✓
• Cap rate: 9.83%
• Cash-on-cash: 12.65%
• DSCR: 1.56
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $71,071
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
408 S Johnson St	0.00mi	2/1.0	1,001 (0%)	1mo	$70,000	$70	99
411 W Jefferson St	0.16mi	2/1.0	972 (-3%)	7mo	$60,000	$62	82
425 E Franklin St	0.53mi	2/1.0	984 (-2%)	1mo	$84,000	$85	71
404 W Kelly St	0.37mi	3/1.0 (+1)	1,056 (+6%)	4mo	$95,000	$90	65
1110 W Piper St	0.66mi	1/— (-1)	1,002 (+0%)	2mo	$17,500	$17	63
420 W Jefferson St	0.19mi	2/2.0	1,138 (+14%)	3mo	$85,000	$75	62
416 W Wheeler St	0.63mi	2/1.0	1,008 (+1%)	10mo	$62,000	$62	61
409 N Randolph St	0.62mi	3/2.0 (+1)	1,029 (+3%)	1mo	$68,000	$66	56
705 Bobby Ave	0.67mi	2/1.0	960 (-4%)	8mo	$89,000	$93	56
115 W Washington St	0.23mi	3/3.0 (+1)	1,141 (+14%)	10mo	$60,000	$53	44
230 Barsi Blvd	0.47mi	3/1.0 (+1)	1,149 (+15%)	6mo	$81,750	$71	44
715 W Chandler St	0.59mi	3/2.5 (+1)	1,142 (+14%)	8mo	$87,000	$76	32

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: 2.4%
• Equity multiple: 1.09×
• Total profit: $1,828
• Equity at exit: $10,437

10-year hold

• IRR: 12.0%
• Equity multiple: 1.95×
• Total profit: $18,588
• Equity at exit: $6,052

Cash invested: $19,600 (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 61455

• Home prices YoY: -33.3%
• Active inventory: 135
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $874 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$88 /mo · $1,054/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$184
• Net cashflow: $207

Break-even live

Break-even rent $613

Max offer price $70,000

Occupancy floor 71%

Sensitivity live

Price	-10% $246	-5% $226	+0% $207	+5% $187	+10% $167
Rent	-10% $138	-5% $172	+0% $207	+5% $241	+10% $276
Rate	-1.0pp $242	-0.5pp $224	base $207	+0.5pp $188	+1.0pp $170

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
902 N Charles St Macomb, IL	2.0	1.5	840	$695	$0.83	44d	1	0.96mi
201 Wigwam Hollow Rd Macomb, IL	2.0–4.0	2.0	1303	$960	$0.74	44d	1	1.11mi

Listing history 4 events

1. 2026-04-18
   historical Under Contract
2. 2026-04-16
   price $70,000
3. 2026-03-23
   price $75,000
4. 2026-02-06
   listed $79,000 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: $1,054 · $88/mo
• Projected year-2 tax: $1,321 · $110/mo
• Expected delta: +$268/yr (+$22/mo · 25.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥107°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,491
• − Mortgage interest: −$3,921
• − Property taxes: −$1,054
• − Insurance: −$350
• − Repairs & maintenance: −$839
• − Management: −$839
• − Depreciation: −$2,036
• Taxable income: $1,451
• Est. tax owed @ 24.0%: −$348
• After-tax cash flow: $2,131/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: Macomb CUSD 185
• NCES district ID: 1723920
• Math proficiency: 19% ▼ -7.00%
• Reading proficiency: 26% ▼ -8.00%
• Median HH income: $34,162
• Composite: 18.45/100
• National rank: #8927
• State rank: #410 of 620 in IL

Livability — Macomb

• Score: 70/100
• State rank: #379
• US rank: #7918

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Macomb, IL
• County: McDonough County · 17,317 people
• City population: 17,317
• Metro: Macomb, IL
• Population (ZIP): 17,317
• Household income: $48,679
• Rent vs Own: 45.1% rent · 54.9% own
• Severe rent burden: 1062.0

Population outlook (McDonough County) Hauer SSP2

• Today (2025): 33,242 people
• By 2030: 33,318 · +0.2%
• By 2040: 33,520 · +0.8%
• By 2050: 33,630 · +1.2%
• By 2075: 33,657 · +1.2%
• By 2100: 33,127 · -0.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Black 9% Two or more races 5% Hispanic / Latino 5% Asian 3%
• Common ancestry: Romanian 3% Italian 3% Iranian 2%
• Foreign-born: 4% · Canada, South Korea, China
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 1% Russian/Polish/Slavic 1%

Political lean MEDSL · McDonough

• 2024 margin: R (+18.9) · D 39.7% · R 58.5% · Other 1.8%
• 2008→2024 swing: -24.4pp toward R · 2008: 5.6pp · 2024: -18.9pp
• All cycles: 2024: R+18.9 2020: R+16.6 2016: R+11.7 2012: R+1.5 2008: D+5.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -70.20%
• Current HPI: 140.4351
• Rent YoY: —
• Metro: Macomb, IL
• 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

-11.4% since first listed

4 events — show timeline

• 2026-04-18 Contingent — RMLSA as Distributed by MLS Grid
• 2026-04-16 Price Changed $70,000 RMLSA as Distributed by MLS Grid
• 2026-03-23 Price Changed $75,000 RMLSA as Distributed by MLS Grid
• 2026-02-06 Listed $79,000 RMLSA as Distributed by MLS Grid

Property tax history

+3.5%/yr

Latest (2024): $1,054 · +4.5% YoY. Source: county tax records.