1012 State St · Eldorado, IL 62930

$115,000

4 bd · 2.0 ba · 1,710 sqft · SingleFamily · 100 Days on market

Built 1955 4,791 sqft lot $67/sqft · 18% above area Est $97k · 18% over

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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 +27.6/30.0
• DSCR +9.7/10.0
• 1% rule +7.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

PRICE DROP!! Motivated sellers. Beautiful, spacious home perfect for a family in a great location! This 4-bedroom, 2-bath home sits in the heart of historic downtown Eldorado on State Street, just minutes from Ferrell Hospital. The home features a grand concrete front porch with a swing that's perfect for enjoying your morning coffee or relaxing in the evenings. Inside, you’ll find a large great room and a primary bedroom with hidden ceiling fans and elegant remote-controlled light fixtures. Lots of updates: new roof/gutters, new oven, microwave. Central Air & Furnace (2021), Refrigerator (2022), Gas Dryer (2022). Upstairs offers three additional bedrooms, a spacious landing, and a full bath, providing plenty of room for family or guests.

Key facts

• Hidden ceiling fans
• 4,791 sq ft lot
• Parking

Tags

• GRAND CONCRETE FRONT PORCH
• HIDDEN CEILING FANS

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $345 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $105k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#658 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: crime D-, amenities F, commute F.
• Eldorado CUSD 4 (town): math 11% / reading 19% proficiency, ranked #526 of 620 in IL (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Eldorado Elem School (math 8% / reading 7%, grade F, #1,627 of 2,056 statewide, top 81%, 545 students, 0% FRL); Eldorado Middle School (math 17% / reading 32%, grade F, #332 of 665 statewide, top 55%, 231 students, 0% FRL); Eldorado High School (math 8% / reading 17%, grade F, #506 of 693 statewide, top 74%, 301 students, 0% FRL) — zoned schools average 0% FRL vs 54% district-wide (54 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 45 active listings in the ZIP.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Saline County population projected at -16% 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 $32k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 100 days — a 9% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y ago; this cycle's ask has dropped $34k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $31k; list at $115k implies a 271% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $104,650 (9.0% below list)

Questions for the listing agent

1. It's been on market 100 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 1955 — 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 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: 9.89%
• Cash-on-cash: 12.86%
• DSCR: 1.57
• GRM: 6.6

CMA / ARV

• ARV (median comp): $97,107
• List price: $115,000
• Delta: 18.43%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1813 Smith St	0.53mi	3/1.5 (-1)	1,684 (-2%)	12mo	$140,000	$83	56
2017 State St	0.55mi	3/2.0 (-1)	1,716 (+0%)	22mo	$140,000	$82	51
2408 Glenwood Ave	0.60mi	3/2.0 (-1)	1,900 (+11%)	21mo	$110,000	$58	30
900 Park St	0.62mi	3/2.0 (-1)	1,456 (-15%)	14mo	$115,000	$79	30

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: 2.7%
• Equity multiple: 1.10×
• Total profit: $3,363
• Equity at exit: $17,147

10-year hold

• IRR: 12.3%
• Equity multiple: 1.97×
• Total profit: $31,314
• Equity at exit: $9,943

Cash invested: $32,200 (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 62930

• Active inventory: 45
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,443 medium
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,725/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$303
• Net cashflow: $345

Break-even live

Break-even rent $1,006

Max offer price $115,000

Occupancy floor 71%

Sensitivity live

Price	-10% $425	-5% $385	+0% $345	+5% $305	+10% $266
Rent	-10% $231	-5% $288	+0% $345	+5% $402	+10% $459
Rate	-1.0pp $403	-0.5pp $374	base $345	+0.5pp $315	+1.0pp $285

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-22
   days on market $115,000 Active 100 DOM
2. 2026-06-21
   days on market $115,000 Active 99 DOM
3. 2026-06-21
   days on market $115,000 Active 98 DOM
4. 2026-06-18
   days on market $115,000 Active 96 DOM
5. 2026-06-17
   days on market $115,000 Active 95 DOM
6. 2026-06-16
   days on market $115,000 Active 94 DOM
7. 2026-06-15
   days on market $115,000 Active 93 DOM
8. 2026-06-14
   price $115,000 Active 91 DOM
9. 2026-06-13
   days on market $129,000 Active 91 DOM
10. 2026-06-12
    days on market $129,000 Active 90 DOM
11. 2026-06-09
    days on market $129,000 Active 87 DOM
12. 2026-06-08
    days on market $129,000 Active 86 DOM
13. 2026-06-07
    days on market $129,000 Active 85 DOM
14. 2026-06-07
    days on market $129,000 Active 84 DOM
15. 2026-06-04
    days on market $129,000 Active 81 DOM
16. 2026-06-02
    days on market $129,000 Active 80 DOM
17. 2026-06-01
    days on market $129,000 Active 79 DOM
18. 2026-05-31
    days on market $129,000 Active 78 DOM
19. 2026-05-31
    days on market $129,000 Active 77 DOM
20. 2026-05-18
    price $129,000 759-char remark

    Show marketing remark (759 chars)

    PRICE DROP!! Motivated sellers. Beautiful, spacious home perfect for a family in a great location! This 4-bedroom, 2-bath home sits in the heart of historic downtown Eldorado on State Street, just minutes from Ferrell Hospital. The home features a grand concrete front porch with a swing that's perfect for enjoying your morning coffee or relaxing in the evenings. Inside, you’ll find a large great room and a primary bedroom with hidden ceiling fans and elegant remote-controlled light fixtures. Lots of updates: new roof/gutters, new oven, microwave. Central Air & Furnace (2021), Refrigerator (2022), Gas Dryer (2022). Upstairs offers three additional bedrooms, a spacious landing, and a full bath, providing plenty of room for family or guests.

21. 2026-04-15
    price $143,000 759-char remark

    Show marketing remark (759 chars)

    PRICE DROP!! Motivated sellers. Beautiful, spacious home perfect for a family in a great location! This 4-bedroom, 2-bath home sits in the heart of historic downtown Eldorado on State Street, just minutes from Ferrell Hospital. The home features a grand concrete front porch with a swing that's perfect for enjoying your morning coffee or relaxing in the evenings. Inside, you’ll find a large great room and a primary bedroom with hidden ceiling fans and elegant remote-controlled light fixtures. Lots of updates: new roof/gutters, new oven, microwave. Central Air & Furnace (2021), Refrigerator (2022), Gas Dryer (2022). Upstairs offers three additional bedrooms, a spacious landing, and a full bath, providing plenty of room for family or guests.

22. 2026-03-14
    listed $149,000 Active 759-char remark

    Show marketing remark (759 chars)

    PRICE DROP!! Motivated sellers. Beautiful, spacious home perfect for a family in a great location! This 4-bedroom, 2-bath home sits in the heart of historic downtown Eldorado on State Street, just minutes from Ferrell Hospital. The home features a grand concrete front porch with a swing that's perfect for enjoying your morning coffee or relaxing in the evenings. Inside, you’ll find a large great room and a primary bedroom with hidden ceiling fans and elegant remote-controlled light fixtures. Lots of updates: new roof/gutters, new oven, microwave. Central Air & Furnace (2021), Refrigerator (2022), Gas Dryer (2022). Upstairs offers three additional bedrooms, a spacious landing, and a full bath, providing plenty of room for family or guests.

23. 2021-11-22
    soldstatus $31,000 221-char remark

    Show marketing remark (221 chars)

    Nice story and half home with 4 bdrms, and 2 baths, large living room, nice sized kitchen, playroom area for kids, covered front porch, deck in the back, basement for storage, white vinyl fencing around part of back yard.

24. 2021-11-22
    soldstatus $31,000 221-char remark

    Show marketing remark (221 chars)

    Nice story and half home with 4 bdrms, and 2 baths, large living room, nice sized kitchen, playroom area for kids, covered front porch, deck in the back, basement for storage, white vinyl fencing around part of back yard.

25. 2021-08-06
    historical
26. 2021-08-06
    historical
27. 2021-05-11
    listed $24,900 221-char remark

    Show marketing remark (221 chars)

    Nice story and half home with 4 bdrms, and 2 baths, large living room, nice sized kitchen, playroom area for kids, covered front porch, deck in the back, basement for storage, white vinyl fencing around part of back yard.

28. 2021-05-11
    listed $24,900 221-char remark

    Show marketing remark (221 chars)

    Nice story and half home with 4 bdrms, and 2 baths, large living room, nice sized kitchen, playroom area for kids, covered front porch, deck in the back, basement for storage, white vinyl fencing around part of back yard.

29. 2012-02-24
    historical

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,313
• − Mortgage interest: −$6,442
• − Property taxes: −$1,725
• − Insurance: −$575
• − Repairs & maintenance: −$1,385
• − Management: −$1,385
• − Depreciation: −$3,345
• Taxable income: $2,456
• Est. tax owed @ 24.0%: −$589
• After-tax cash flow: $3,551/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: Eldorado CUSD 4
• NCES district ID: 1713660
• Math proficiency: 11% ▼ -10.00%
• Reading proficiency: 19% ▼ -11.00%
• Median HH income: $36,707
• Composite: 12.47/100
• National rank: #9627
• State rank: #526 of 620 in IL

Livability — Eldorado

• Score: 65/100
• State rank: #658
• US rank: #13492

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Eldorado, IL
• Population (ZIP): 5,763

Population outlook (Saline County) Hauer SSP2

• Today (2025): 23,915 people
• By 2030: 23,262 · -2.7%
• By 2040: 21,775 · -8.9%
• By 2050: 20,098 · -16.0%
• By 2075: 15,234 · -36.3%
• By 2100: 10,302 · -56.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 3% Two or more races 3% Asian 2%
• Common ancestry: Slovak 5% Lithuanian 1% Serbian 1%
• Foreign-born: 3% · Canada, South Korea, Vietnam
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Saline

• 2024 margin: Solid R (+49.0) · D 24.8% · R 73.8% · Other 1.3%
• 2008→2024 swing: -40.1pp toward R · 2008: -8.9pp · 2024: -49.0pp
• All cycles: 2024: R+49.0 2020: R+47.9 2016: R+50.7 2012: R+29.0 2008: R+8.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -81.64%
• Current HPI: 75.0826
• 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

+418.1% since first listed

10 events — show timeline

• 2026-05-18 Price Changed $129,000 RMLSA as Distributed by MLS Grid
• 2026-04-15 Price Changed $143,000 RMLSA as Distributed by MLS Grid
• 2026-03-14 Listed $149,000 RMLSA as Distributed by MLS Grid
• 2021-11-22 Sold (MLS) $31,000 RMLSA as Distributed by MLS Grid
• 2021-11-22 Sold (MLS) $31,000 MRED as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-05-11 Listed $24,900 RMLSA as Distributed by MLS Grid
• 2021-05-11 Listed $24,900 MRED as Distributed by MLS Grid
• 2012-02-24 Listing Removed — MRED as Distributed by MLS Grid

Property tax history

-17.8%/yr

Latest (2024): $153 · +30496.0% YoY. Source: county tax records.