332 E Summit St · Macomb, IL 61455

$79,000

3 bd · 1.0 ba · 1,228 sqft · SingleFamily public records · 11 Days on market

Built 1920 6,840 sqft lot Est $92k · 14% under

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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 +25.0/30.0
• ARV discount +13.9/15.0
• DSCR +8.1/10.0
• 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

This 3-bedroom home sits on a spacious corner lot and features a full basement with plenty of storage in a quiet area. Conveniently located just minutes from McDonough District Hospital, shopping, and dining. Perfect for first-time buyers, young families, or investors looking for a solid opportunity.

Key facts

• Plenty of storage
• Full basement
• Corner lot

Tags

• CORNER LOT
• FULL BASEMENT
• PLENTY OF STORAGE
• QUIET AREA

Property features AI

Exterior

• Parking: Gravel parking (no garage)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Built in 1920
• Construction: Shingle roof; Total living area listed as 1228
• Exterior features: Corner lot; Lot dimensions approximately 60 x 114

Interior

• Kitchen: Kitchen on main level (vinyl flooring, approx. 13 x 10 ft)
• Bedrooms: 3 bedrooms (all on the main level); Primary bedroom approx. 13 x 10 ft (hardwood flooring, egress window); Second bedroom approx. 13 x 12 ft (carpet, egress window); Third bedroom approx. 10 x 10 ft (carpet, egress window)
• Flooring: Hardwood in primary bedroom; Carpet in two bedrooms; Vinyl in kitchen
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced-air heating
• Interior features: Full, unfinished basement; No fireplaces listed; Forced-air heating

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $79k.

Deal economics

• At list price, monthly cash flow is $172 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($991 rent vs $79k).
• Cap rate 8.9% vs local median 6.0% 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: Lincoln Elem School (math 17% / reading 12%, grade F, #1,278 of 2,056 statewide, top 65%, 548 students, 0% FRL); Edison Elementary School (math 15% / reading 22%, grade F, #438 of 665 statewide, top 67%, 432 students, 0% FRL); 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: 140 active listings in the ZIP; 1 comparable units currently listed for rent nearby.

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.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 18y ago 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 $58k; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $79,000

Questions for the listing agent

1. Built in 1920 — 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. 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?
4. 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?
5. 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.
6. 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.
7. 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: 8.90%
• Cash-on-cash: 9.31%
• DSCR: 1.41
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $92,100
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
715 Lawndale Dr	0.34mi	3/1.5	1,232 (+0%)	6mo	$167,500	$136	77
820 Jamie Ln	0.46mi	3/2.0	1,208 (-2%)	1mo	$120,000	$99	71
404 W Fisk St	0.51mi	3/1.0	1,276 (+4%)	1mo	$75,000	$59	69
802 Bobby Ave	0.25mi	3/2.0	1,340 (+9%)	3mo	$111,000	$83	67
336 S Madison St	0.37mi	3/1.0	1,334 (+9%)	8mo	$20,000	$15	62
210 S White St	0.68mi	2/1.0 (-1)	1,246 (+2%)	3mo	$67,000	$54	58
715 E Piper St	0.42mi	2/1.0 (-1)	1,314 (+7%)	9mo	$71,000	$54	56
830 S Lafayette St	0.25mi	2/2.0 (-1)	1,348 (+10%)	10mo	$125,000	$93	55
836 S Johnson St	0.44mi	3/1.0	1,374 (+12%)	9mo	$81,000	$59	52
404 W Kelly St	0.51mi	3/1.0	1,056 (-14%)	4mo	$95,000	$90	50
115 W Washington St	0.57mi	3/3.0	1,141 (-7%)	10mo	$60,000	$53	45
420 W Jefferson St	0.71mi	2/2.0 (-1)	1,138 (-7%)	3mo	$85,000	$75	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: -2.2%
• Equity multiple: 0.92×
• Total profit: $-1,814
• Equity at exit: $11,779

10-year hold

• IRR: 7.6%
• Equity multiple: 1.58×
• Total profit: $12,722
• 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 61455

• Home prices YoY: -33.3%
• Active inventory: 140
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $991 medium
• Mortgage (P&I): −$414
• Tax from tax record: −$164 /mo · $1,964/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$208
• Net cashflow: $172

Break-even live

Break-even rent $773

Max offer price $79,000

Occupancy floor 78%

Sensitivity live

Price	-10% $216	-5% $194	+0% $172	+5% $149	+10% $127
Rent	-10% $93	-5% $133	+0% $172	+5% $211	+10% $250
Rate	-1.0pp $211	-0.5pp $192	base $172	+0.5pp $151	+1.0pp $130

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 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
902 N Charles St Macomb, IL	2.0	1.5	840	$695	$0.83	45d	1	1.40mi

Listing history 9 events

1. 2026-06-21
   days on market $79,000 Active 11 DOM
2. 2026-06-19
   days on market $79,000 Active 9 DOM
3. 2026-06-18
   days on market $79,000 Active 8 DOM
4. 2026-06-17
   days on market $79,000 Active 7 DOM
5. 2026-06-16
   days on market $79,000 Active 6 DOM
6. 2026-06-15
   days on market $79,000 Active 5 DOM
7. 2026-06-14
   days on market $79,000 Active 3 DOM
8. 2026-06-12
   remarks 301-char remark
9. 2026-06-12
   listed $79,000 Active 2 DOM

ⓘ 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: $1,964 · $164/mo
• Projected year-2 tax: $1,964 · $164/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 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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,887
• − Mortgage interest: −$4,425
• − Property taxes: −$1,964
• − Insurance: −$395
• − Repairs & maintenance: −$951
• − Management: −$951
• − Depreciation: −$2,298
• Taxable income: $902
• Est. tax owed @ 24.0%: −$217
• After-tax cash flow: $1,843/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

+17.9% since first listed

8 events — show timeline

• 2026-06-10 Listed $79,000 RMLSA 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
• 2021-06-22 Sold (Public Records) $57,900 Public Records
• 2021-06-18 Sold (MLS) $57,900 RMLSA as Distributed by MLS Grid
• 2020-09-01 Listed $59,900 RMLSA as Distributed by MLS Grid
• 2008-10-29 Sold (MLS) $60,000 RMLSA as Distributed by MLS Grid
• 2008-10-01 Listed $67,000 RMLSA as Distributed by MLS Grid

Property tax history

+3.1%/yr

Latest (2024): $1,964 · -1.0% YoY. Source: county tax records.