508 W Clark St · Thomasboro, IL 61878

$79,450

3 bd · 1.0 ba · 1,100 sqft · Other · 104 Days on market

0.26 ac lot ↓ 19% 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 +16.5/30.0
• Appreciation +9.4/10.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• DSCR +5.1/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0

Listing remarks

Property was remodeled by prior owner. The L-shaped kitchen has oak cabinets and a stainless sink. Laminate flooring has been installed in the kitchen and dining room. New carpet was laid in the bedrooms and living room. Neutral colors were used when painting the rooms. Some windows were replaced at an earlier time. Unlock the front door and move right in!

Key facts

• Laminate flooring
• Oak cabinets
• New carpet

Tags

• L-SHAPED KITCHEN
• OAK CABINETS
• STAINLESS SINK
• LAMINATE FLOORING
• NEW CARPET
• NEUTRAL COLORS

What this means for you Summary

Snapshot

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

Deal economics

• At list price, monthly cash flow is $46 ($558/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($904 rent vs $79k).
• Recommended offer: $72k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#514 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools C-, employment D+, amenities F.
• Rantoul Township Hsd 193 (town): math 10% / reading 10% proficiency, ranked #824 of 919 in IL (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 4 active listings in the ZIP; 573 units permitted in Champaign County in 2024 (359 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($550 loan paydown + $7k appreciation (8.9% local appreciation)).
• Champaign County population projected at +15% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (8.9% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 104 days — a 9% lower offer ($72k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 3y ago; this cycle's ask has dropped $16k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price.

Recommended offer $72,299 (9.0% below list)

Questions for the listing agent

1. It's been on market 104 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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: 1.14% ✓
• Cap rate: 7.00%
• Cash-on-cash: 2.51%
• DSCR: 1.11
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

8.88% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.8%
• Equity multiple: 2.81×
• Total profit: $40,307
• Equity at exit: $65,180

10-year hold

• IRR: 21.4%
• Equity multiple: 6.19×
• Total profit: $115,365
• Equity at exit: $134,270

Cash invested: $22,246 (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 61878

• Home prices YoY: 5.0%
• Active inventory: 4
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $904 medium
• Mortgage (P&I): −$417
• Tax from tax record: −$218 /mo · $2,618/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$190
• Net cashflow: $46

Break-even live

Break-even rent $845

Max offer price $79,450

Occupancy floor 90%

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: $19,862
• Closing costs: $2,384
• Reserves months: —
• Total cash needed: —

Listing history 32 events

1. 2026-04-19
   status Pending
2. 2026-02-07
   price $79,450
3. 2026-01-05
   listed $95,000 Active
4. 2025-12-08
   historical
5. 2025-09-24
   price
6. 2025-08-01
   price
7. 2025-07-27
   price
8. 2025-07-14
   price
9. 2025-07-10
   listed Active
10. 2025-06-14
    price
11. 2025-06-14
    historical
12. 2025-05-31
    price
13. 2025-05-08
    price
14. 2025-05-08
    status Active
15. 2025-05-03
    historical
16. 2025-05-03
    status Temporarily No Showings
17. 2025-04-22
    historical
18. 2025-04-22
    status Temporarily No Showings
19. 2024-10-23
    historical $1,650
20. 2024-10-18
    price $1,650
21. 2024-10-15
    listed $1,595
22. 2024-09-30
    historical
23. 2024-09-12
    price
24. 2024-06-23
    listed Active
25. 2024-03-22
    soldstatus $106,000
26. 2024-03-21
    soldstatus $106,000 Closed
27. 2024-02-05
    status Pending
28. 2024-02-01
    listed $97,900 Active
29. 2023-12-15
    historical
30. 2023-10-23
    status Active
31. 2023-10-10
    historical Contingent - No Showings
32. 2023-09-29
    listed 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: $2,618 · $218/mo
• Projected year-2 tax: $2,618 · $218/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 FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥105°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,852
• − Mortgage interest: −$4,450
• − Property taxes: −$2,618
• − Insurance: −$397
• − Repairs & maintenance: −$868
• − Management: −$868
• − Depreciation: −$2,311
• Taxable loss: −$661
• Est. tax savings @ 24.0%: +$159
• After-tax cash flow: $717/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: Rantoul Township Hsd 193
• NCES district ID: 1733240
• Math proficiency: 10% ▼ -5.00%
• Reading proficiency: 10% ▬ 0.00%
• Median HH income: $38,128
• Composite: 12.14/100
• National rank: #14582
• State rank: #824 of 919 in IL

Livability — Thomasboro

• Score: 67/100
• State rank: #514
• US rank: #10638

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Thomasboro, IL
• Population (ZIP): 1,179

Population outlook (Champaign County) Hauer SSP2

• Today (2025): 223,848 people
• By 2030: 231,416 · +3.4%
• By 2040: 244,321 · +9.1%
• By 2050: 256,432 · +14.6%
• By 2075: 285,823 · +27.7%
• By 2100: 296,406 · +32.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 6% Two or more races 5% Black 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 3% Portuguese 1% Slovak 1%
• Foreign-born: 7% · Canada
• Languages at home: 95% English-only · Spanish 3% Other Indo-European 1% Arabic 1%

Political lean MEDSL · Champaign

• 2024 margin: Strong D (+24.1) · D 61.3% · R 37.2% · Other 1.5%
• 2008→2024 swing: +6.6pp toward D · 2008: 17.5pp · 2024: 24.1pp
• All cycles: 2024: D+24.1 2020: D+22.8 2016: D+18.4 2012: D+6.8 2008: D+17.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.88%
• Current HPI: 186.6187
• 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

-18.8% since first listed

32 events — show timeline

• 2026-04-19 Pending — MRED as Distributed by MLS Grid
• 2026-02-07 Price Changed $79,450 MRED as Distributed by MLS Grid
• 2026-01-05 Listed $95,000 MRED as Distributed by MLS Grid
• 2025-12-08 Listing Removed — MRED as Distributed by MLS Grid
• 2025-09-24 Price Changed — MRED as Distributed by MLS Grid
• 2025-08-01 Price Changed — MRED as Distributed by MLS Grid
• 2025-07-27 Price Changed — MRED as Distributed by MLS Grid
• 2025-07-14 Price Changed — MRED as Distributed by MLS Grid
• 2025-07-10 Listed — MRED as Distributed by MLS Grid
• 2025-06-14 Price Changed — MRED as Distributed by MLS Grid
• 2025-06-14 Listing Removed — MRED as Distributed by MLS Grid
• 2025-05-31 Price Changed — MRED as Distributed by MLS Grid
• 2025-05-08 Price Changed — MRED as Distributed by MLS Grid
• 2025-05-08 Relisted — MRED as Distributed by MLS Grid
• 2025-05-03 Listing Removed — MRED as Distributed by MLS Grid
• 2025-05-03 Relisted — MRED as Distributed by MLS Grid
• 2025-04-22 Listing Removed — MRED as Distributed by MLS Grid
• 2025-04-22 Relisted — MRED as Distributed by MLS Grid
• 2024-10-23 Rental Removed $1,650 TURBOTENANT
• 2024-10-18 Price Changed $1,650 TURBOTENANT
• 2024-10-15 Listed for Rent $1,595 TURBOTENANT
• 2024-09-30 Listing Removed — MRED as Distributed by MLS Grid
• 2024-09-12 Price Changed — MRED as Distributed by MLS Grid
• 2024-06-23 Listed — MRED as Distributed by MLS Grid
• 2024-03-22 Sold (Public Records) $106,000 Public Records
• 2024-03-21 Sold (MLS) $106,000 MRED as Distributed by MLS Grid
• 2024-02-05 Pending — MRED as Distributed by MLS Grid
• 2024-02-01 Listed $97,900 MRED as Distributed by MLS Grid
• 2023-12-15 Listing Removed — MRED as Distributed by MLS Grid
• 2023-10-23 Relisted — MRED as Distributed by MLS Grid
• 2023-10-10 Contingent — MRED as Distributed by MLS Grid
• 2023-09-29 Listed — MRED as Distributed by MLS Grid

Property tax history

+2.3%/yr

Latest (2024): $2,618 · +6.1% YoY. Source: county tax records.