1406 W Forrest St · Bloomington, IL 61701

$125,000

2 bd · 1.0 ba · 856 sqft · SingleFamily · 12 Days on market

Built 1900 10,193 sqft lot Est $116k · 8% over

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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 +15.6/30.0
• DSCR +4.8/10.0
• 1% rule +4.3/10.0
• Rent growth +3.9/5.0
• Livability +3.9/5.0
• ARV discount +3.8/15.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks

Well Maintained 2 Bedroom with 1 Bath Home located on a large lot. Oversized Garage and an Extra Storage Shed. Newer Landscaping with a Variety of Fruit Trees, Lilac Bushes, Pine Trees. ! Large Garden.

Key facts

• 0.23 acre lot
• 2 garage spots
• Built 1900

Property features AI

Finance

• Other: Parcel number 1432451001
• HOA & community: No master association fee required

Exterior

• Parking: Detached heated garage with garage door opener; 2 garage spaces (2 total parking spaces)
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; One-story layout; Fee simple ownership; Property more than 100 years old; Living area measured by assessor
• Construction: Vinyl siding; Home built before 1978
• Exterior features: Patio; Porch; Fenced yard; Corner lot (102 x 100)

Interior

• Kitchen: Galley kitchen; Energy Star qualified appliances; Dishwasher; Range; Microwave
• Bedrooms: 2 bedrooms (main level); Master bedroom on the main level
• Flooring: Hardwood flooring in bedrooms; Carpet in living room; Vinyl flooring in kitchen
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating with forced air; Central air conditioning
• Interior features: Window treatments; 5 rooms total; Full basement with egress window
• Laundry & utility: Laundry room; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $52 ($628/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $116k (7.2% below list).
• Recommended offer: $116k (7.2% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 5.4% in Bloomington — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 77/100 on livability (#161 in IL, #2,987 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, commute F.
• Bloomington SD 87 (urban): math 14% / reading 19% proficiency, ranked #476 of 620 in IL (top 77%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Sheridan Elem School (math 2% / reading 8%, grade F, #1,741 of 2,056 statewide, top 93%, 365 students, 0% FRL); Bloomington Jr High School (math 12% / reading 19%, grade F, #493 of 665 statewide, top 75%, 1,006 students, 0% FRL); Bloomington High School (math 27% / reading 33%, grade F, #179 of 693 statewide, top 27%, 1,503 students, 0% FRL) — zoned schools average 0% FRL vs 51% district-wide (51 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+5.6%/yr); 92 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 247 units permitted in McLean County in 2024 (54 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $115,975 (7.2% below list)

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.93% ✗
• Cap rate: 6.80%
• Cash-on-cash: 1.80%
• DSCR: 1.08
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $115,560
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1313 W Walnut St	0.29mi	2/1.0	840 (-2%)	14mo	$89,000	$106	72
1515 W Market St	0.57mi	2/1.0	861 (+1%)	6mo	$108,500	$126	68
1405 Blackstone St	0.24mi	3/1.0 (+1)	912 (+6%)	16mo	$128,000	$140	60
601 N Allin St	0.68mi	2/1.0	840 (-2%)	8mo	$89,900	$107	58
1219 N Lee St	0.69mi	2/1.0	871 (+2%)	15mo	$123,000	$141	53
1309 Ewing St W	0.40mi	2/1.0	928 (+8%)	20mo	$91,000	$98	51
716 W Mulberry St	0.71mi	2/1.0	896 (+5%)	10mo	$121,000	$135	51
607 N Allin St	0.67mi	1/1.0 (-1)	770 (-10%)	12mo	$115,000	$149	37

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 · 5.6% rent growth · sell at horizon

5-year hold

• IRR: -10.6%
• Equity multiple: 0.61×
• Total profit: $-13,791
• Equity at exit: $18,638

10-year hold

• IRR: 2.1%
• Equity multiple: 1.17×
• Total profit: $5,829
• Equity at exit: $10,808

Cash invested: $35,000 (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 61701

• Rents YoY: 5.6%
• Active inventory: 92
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,160 high
• Mortgage (P&I): −$656
• Tax est. 1.5%: −$156 /mo · $1,875/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$244
• Net cashflow: $52

Break-even live

Break-even rent $1,093

Max offer price $125,000

Occupancy floor 90%

Sensitivity live

Price	-10% $139	-5% $96	+0% $52	+5% $9	+10% $-34
Rent	-10% $-39	-5% $7	+0% $52	+5% $98	+10% $144
Rate	-1.0pp $115	-0.5pp $84	base $52	+0.5pp $20	+1.0pp $-13

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
304 Turnberry Dr Bloomington, IL	2.0–3.0	1.0–2.0	1032	$1,299	$1.26	22d	4	0.54mi
912 N Madison St Apt 2 Bloomington, IL	1.0	1.0	850	$950	$1.12	45d	1	0.82mi
915 N Madison St Unit 4 Bloomington, IL	2.0	1.0	900	$899	$1.00	22d	1	0.84mi
909 N Main St Bloomington, IL	1.0	1.0	630	$850	$1.35	22d	1	0.95mi
703 W Olive St Bloomington, IL	3.0	1.0	1000	$1,495	$1.50	22d	1	1.09mi
503 E Empire St Bloomington, IL	3.0	2.0	1000	$1,795	$1.79	45d	1	1.22mi
804 S Morris Ave Unit 1 Bloomington, IL	1.0	1.0	700	$850	$1.21	22d	1	1.31mi
1 White Pl Unit 201 Bloomington, IL	1.0	1.0	600	$1,425	$2.38	45d	1	1.46mi

Listing history 10 events

1. 2026-06-17
   days on market $125,000 Coming Soon 12 DOM
2. 2026-06-16
   days on market $125,000 Coming Soon 11 DOM
3. 2026-06-15
   days on market $125,000 Coming Soon 10 DOM
4. 2026-06-14
   days on market $125,000 Coming Soon 8 DOM
5. 2026-06-13
   days on market $125,000 Coming Soon 7 DOM
6. 2026-06-10
   days on market $125,000 Coming Soon 5 DOM
7. 2026-06-09
   days on market $125,000 Coming Soon 4 DOM
8. 2026-06-08
   days on market $125,000 Coming Soon 3 DOM
9. 2026-06-07
   remarks 201-char remark
10. 2026-06-07
    listed $125,000 Coming Soon 2 DOM

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

Taxation est. · year 1

• Rental income: $13,917
• − Mortgage interest: −$7,002
• − Property taxes: −$1,875
• − Insurance: −$625
• − Repairs & maintenance: −$1,113
• − Management: −$1,113
• − Depreciation: −$3,636
• Taxable loss: −$1,448
• Est. tax savings @ 24.0%: +$348
• After-tax cash flow: $976/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: Bloomington SD 87
• NCES district ID: 1706480
• Math proficiency: 14% ▼ -7.00%
• Reading proficiency: 19% ▼ -7.00%
• Median HH income: $50,544
• Composite: 15.05/100
• National rank: #9351
• State rank: #476 of 620 in IL

Livability — Bloomington

• Score: 77/100
• State rank: #161
• US rank: #2987

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bloomington, IL
• County: McLean County · 126,490 people
• City population: 72,415
• Metro: Bloomington, IL
• Population (ZIP): 35,136
• Household income: $57,130
• Rent vs Own: 43.3% rent · 56.7% own
• Severe rent burden: 1493.0

Population outlook (McLean County) Hauer SSP2

• Today (2025): 176,468 people
• By 2030: 178,002 · +0.9%
• By 2040: 178,592 · +1.2%
• By 2050: 177,090 · +0.4%
• By 2075: 173,224 · -1.8%
• By 2100: 158,425 · -10.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Black 13% Two or more races 9% Hispanic / Latino 9% Asian 3%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Romanian 3% Slovak 2% Italian 1%
• Foreign-born: 6% · Canada, Philippines, Vietnam
• Languages at home: 91% English-only · Spanish 5% Other Asian/Pacific 1% Other Indo-European 1%

Political lean MEDSL · McLean

• 2024 margin: Toss-up / Even · D 51.6% · R 46.8% · Other 1.6%
• 2008→2024 swing: +3.7pp toward D · 2008: 1.2pp · 2024: 4.9pp
• All cycles: 2024: D+4.9 2020: D+3.9 2016: R+1.5 2012: R+11.1 2008: D+1.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -115.13%
• Current HPI: 172.3659
• Rent YoY: ▲ 5.60%
• Metro: Bloomington, 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