375 W Iroquois St · Sheldon, IL 60966

$84,900

4 bd · 2.0 ba · 1,788 sqft · SingleFamily · 12 Days on market

Built 1976 0.51 ac lot Est $113k · 25% under

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Why this score? — see what drove the B+ 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 +29.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +5.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Listing remarks

Spacious 3 or 4 BR, 2 bath ranch home on large corner lot with 1 car attached garage. Kitchen/Dining combo has ample cabinets, laminate flooring, dishwasher, built-in desk. The built-in oven does not work. The 3 bedrooms are all nice size with closet space. The formal living room was converted to the 4th bedroom (but no closet) and foyer. Main bath has tub & shower, master bath has shower only. Exterior includes concrete patio on the rear and roofed front porch to enjoy the great outdoors. Within the past 10 years - Roof, Siding, Furnace & C/A, Water Heater, Septic System have all been replaced. The home has been used as a rental property for several years so updates are needed.

Key facts

• Laminate flooring
• Ample cabinets
• Concrete patio

Tags

• CORNER LOT
• KITCHEN DINING COMBO
• AMPLE CABINETS
• LAMINATE FLOORING
• BUILT IN DESK
• CONCRETE PATIO

Property features AI

Finance

• Other: Fee simple ownership; School bus service available
• HOA & community: No master association fee required; Nearby park

Exterior

• Parking: Attached garage (garage owned) with garage door opener; Concrete driveway; Total parking for 1 vehicle
• Utilities: Public water; Septic tank sewer; Electric service with circuit breakers (100 Amp)
• Home design: Detached single-family home; One-story
• Construction: Built approximately 41–50 years ago; Vinyl siding; Asphalt roof; Block foundation
• Exterior features: Patio; Corner lot

Interior

• Kitchen: Kitchen with eating area/table space and pantry; Includes dishwasher
• Bedrooms: Four bedrooms (all on the main level); Master bedroom with shower-only bath
• Flooring: Laminate flooring in foyer, kitchen, and master bedroom; Carpet in living room and three bedrooms; Linoleum in laundry room
• Bathrooms: Two full bathrooms
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Six total rooms; Foyer; Family room; Dining area combined with kitchen; Crawl space basement
• Laundry & utility: Main-level laundry room

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $291 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).

Location & tenants

• Location reads 60/100 on livability (#946 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: schools F, amenities F, commute F.
• Milford Area PSD 124 (rural): math 30% / reading 26% proficiency, ranked #278 of 620 in IL (top 45%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 14 active listings in the ZIP; 14 units permitted in Iroquois County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($587 loan paydown + $3k appreciation (3.0% local appreciation)).
• Iroquois County population projected at -20% 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 $24k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

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

Risks & watch-outs

• Watch-outs: property tax is 3.5% of price.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $84,900

Questions for the listing agent

1. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.51% ✓
• Cap rate: 10.40%
• Cash-on-cash: 14.67%
• DSCR: 1.65
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $112,644
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
540 N 8th St	0.52mi	3/2.0 (-1)	1,812 (+1%)	7mo	$125,000	$69	62
320 S 5th St	0.57mi	3/1.5 (-1)	1,750 (-2%)	5mo	$40,000	$23	58
354 N 5th St	0.33mi	3/2.0 (-1)	1,600 (-10%)	8mo	$57,100	$36	56
140 E Walnut St	0.54mi	4/2.0	1,656 (-7%)	9mo	$135,682	$82	55
430 E Concord St	0.50mi	3/1.5 (-1)	1,996 (+12%)	17mo	$125,000	$63	36
240 S 6th St	0.59mi	3/2.0 (-1)	1,658 (-7%)	23mo	$30,000	$18	36

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: 21.3%
• Equity multiple: 2.21×
• Total profit: $28,840
• Equity at exit: $38,175

10-year hold

• IRR: 22.4%
• Equity multiple: 4.23×
• Total profit: $76,886
• Equity at exit: $58,832

Cash invested: $23,772 (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 60966

• Active inventory: 14
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,286 medium
• Mortgage (P&I): −$445
• Tax from tax record: −$244 /mo · $2,934/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$270
• Net cashflow: $291

Break-even live

Break-even rent $918

Max offer price $84,900

Occupancy floor 72%

Sensitivity live

Price	-10% $339	-5% $315	+0% $291	+5% $267	+10% $243
Rent	-10% $189	-5% $240	+0% $291	+5% $341	+10% $392
Rate	-1.0pp $333	-0.5pp $312	base $291	+0.5pp $269	+1.0pp $246

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: $21,225
• Closing costs: $2,547
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-21
   days on market $84,900 Active 12 DOM
2. 2026-06-21
   days on market $84,900 Active 11 DOM
3. 2026-06-18
   days on market $84,900 Active 9 DOM
4. 2026-06-17
   days on market $84,900 Active 8 DOM
5. 2026-06-16
   days on market $84,900 Active 7 DOM
6. 2026-06-15
   days on market $84,900 Active 6 DOM
7. 2026-06-13
   days on market $84,900 Active 4 DOM
8. 2026-06-12
   days on market $84,900 Active 3 DOM
9. 2026-06-09
   remarks 691-char remark
10. 2026-06-09
    listed $84,900 Active 1 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: $2,934 · $244/mo
• Projected year-2 tax: $2,934 · $244/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 6/10 Major FEMA zone X (unshaded) · 68% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,428
• − Mortgage interest: −$4,756
• − Property taxes: −$2,934
• − Insurance: −$424
• − Repairs & maintenance: −$1,234
• − Management: −$1,234
• − Depreciation: −$2,470
• Taxable income: $2,376
• Est. tax owed @ 24.0%: −$570
• After-tax cash flow: $2,917/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: Milford Area PSD 124
• NCES district ID: 1701416
• Math proficiency: 30% ▲ 2.00%
• Reading proficiency: 26% ▼ -11.00%
• Median HH income: $44,333
• Composite: 24.03/100
• National rank: #7767
• State rank: #278 of 620 in IL

Livability — Sheldon

• Score: 60/100
• State rank: #946
• US rank: #18538

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sheldon, IL
• Population (ZIP): 1,554

Population outlook (Iroquois County) Hauer SSP2

• Today (2025): 26,826 people
• By 2030: 25,771 · -3.9%
• By 2040: 23,589 · -12.1%
• By 2050: 21,523 · -19.8%
• By 2075: 17,998 · -32.9%
• By 2100: 14,979 · -44.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Lithuanian 9% Slovak 5% Romanian 3%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Iroquois

• 2024 margin: Solid R (+57.3) · D 20.6% · R 78.0% · Other 1.4%
• 2008→2024 swing: -27.5pp toward R · 2008: -29.8pp · 2024: -57.3pp
• All cycles: 2024: R+57.3 2020: R+56.7 2016: R+56.0 2012: R+44.7 2008: R+29.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

1 event — show timeline

• 2026-06-09 Listed $84,900 MRED as Distributed by MLS Grid

Property tax history

+0.4%/yr

Latest (2024): $2,934 · +7.5% YoY. Source: county tax records.