2409 Hanna City-glasford Rd · Smithville, IL 61536

$22,900

2 bd · 1.0 ba · 1,162 sqft · SingleFamily public records · 109 Days on market

Built 1925 0.25 ac lot $20/sqft · 75% below area ↓ 33% since listing

---

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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome Investors! This 3-bed 1-bath home has great potential. Needs some work. Main floor laundry. Large eat in kitchen. Big corner lot. Call today for your showing. All measurements are deemed reliable but are not guaranteed to be accurate. Home is being Sold as is.

Key facts

• Large eat in kitchen
• Main floor laundry
• Big corner lot

Tags

• MAIN FLOOR LAUNDRY
• LARGE EAT IN KITCHEN
• BIG CORNER LOT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $23k.

Deal economics

• At list price, monthly cash flow is $564 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($972 rent vs $23k).
• Recommended offer: $21k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Farmington Central CUSD 265 (rural): math 23% / reading 29% proficiency, ranked #293 of 620 in IL (top 47%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 9 active listings in the ZIP; 73 units permitted in Peoria County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $158 of loan paydown is wiped out by about $687 of value loss. Plan a longer hold.
• Peoria County population projected at -11% 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 $6k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 109 days — a 9% lower offer ($21k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 26y ago; this cycle's ask has dropped $7k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.9% of price; built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $20,839 (9.0% below list)

Questions for the listing agent

1. It's been on market 109 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 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 4.24% ✓
• Cap rate: 35.86%
• Cash-on-cash: 105.61%
• DSCR: 5.70
• GRM: 2.0

CMA / ARV

• ARV (median comp): $91,429
• List price: $22,900
• Delta: -74.95%
• Verdict: UNDERPRICED
• Comps: 5 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 6.03×
• Total profit: $32,271
• Equity at exit: $3,414

10-year hold

• IRR: —
• Equity multiple: 12.63×
• Total profit: $74,552
• Equity at exit: $1,980

Cash invested: $6,412 (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 61536

• Home prices YoY: -13.3%
• Active inventory: 9
• Price-to-rent: 2.0×

Monthly cashflow live

• Estimated rent: $972 medium
• Mortgage (P&I): −$120
• Tax from tax record: −$74 /mo · $887/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$204
• Net cashflow: $564

Break-even live

Break-even rent $258

Max offer price $22,900

Occupancy floor 37%

Sensitivity live

Price	-10% $577	-5% $571	+0% $564	+5% $558	+10% $551
Rent	-10% $488	-5% $526	+0% $564	+5% $603	+10% $641
Rate	-1.0pp $576	-0.5pp $570	base $564	+0.5pp $558	+1.0pp $552

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: $5,725
• Closing costs: $687
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-21
   days on market $22,900 Active 109 DOM
2. 2026-06-21
   days on market $22,900 Active 108 DOM
3. 2026-06-18
   days on market $22,900 Active 106 DOM
4. 2026-06-17
   days on market $22,900 Active 105 DOM
5. 2026-06-16
   days on market $22,900 Active 104 DOM
6. 2026-06-15
   days on market $22,900 Active 103 DOM
7. 2026-06-13
   days on market $22,900 Active 101 DOM
8. 2026-06-12
   days on market $22,900 Active 100 DOM
9. 2026-06-09
   days on market $22,900 Active 97 DOM
10. 2026-06-09
    price $22,900 Active 96 DOM
11. 2026-06-08
    days on market $24,900 Active 96 DOM
12. 2026-06-07
    days on market $24,900 Active 95 DOM
13. 2026-06-04
    days on market $24,900 Active 91 DOM
14. 2026-06-02
    days on market $24,900 Active 90 DOM
15. 2026-06-01
    days on market $24,900 Active 89 DOM
16. 2026-05-31
    days on market $24,900 Active 88 DOM
17. 2026-05-31
    days on market $24,900 Active 87 DOM
18. 2026-04-08
    price $24,900 268-char remark

    Show marketing remark (268 chars)

    Welcome Investors! This 3-bed 1-bath home has great potential. Needs some work. Main floor laundry. Large eat in kitchen. Big corner lot. Call today for your showing. All measurements are deemed reliable but are not guaranteed to be accurate. Home is being Sold as is.

19. 2026-03-04
    listed $29,900 Active 268-char remark

    Show marketing remark (268 chars)

    Welcome Investors! This 3-bed 1-bath home has great potential. Needs some work. Main floor laundry. Large eat in kitchen. Big corner lot. Call today for your showing. All measurements are deemed reliable but are not guaranteed to be accurate. Home is being Sold as is.

20. 2026-01-25
    historical
21. 2025-10-21
    listed Active
22. 2025-06-11
    historical
23. 2025-06-01
    price
24. 2025-05-09
    price
25. 2025-04-23
    listed Active
26. 2000-06-21
    soldstatus $36,000
27. 2000-06-20
    soldstatus $35,750
28. 2000-05-25
    listed $37,400

ⓘ 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: $887 · $74/mo
• Projected year-2 tax: $887 · $74/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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,664
• − Mortgage interest: −$1,283
• − Property taxes: −$887
• − Insurance: −$114
• − Repairs & maintenance: −$933
• − Management: −$933
• − Depreciation: −$666
• Taxable income: $6,847
• Est. tax owed @ 24.0%: −$1,643
• After-tax cash flow: $5,128/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: Farmington Central CUSD 265
• NCES district ID: 1700044
• Math proficiency: 23% ▼ -8.00%
• Reading proficiency: 29% ▼ -11.00%
• Median HH income: $54,785
• Composite: 23.33/100
• National rank: #7914
• State rank: #293 of 620 in IL

Livability — Smithville

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Smithville, IL
• Population (ZIP): 3,445

Population outlook (Peoria County) Hauer SSP2

• Today (2025): 183,007 people
• By 2030: 179,643 · -1.8%
• By 2040: 171,782 · -6.1%
• By 2050: 163,508 · -10.7%
• By 2075: 140,178 · -23.4%
• By 2100: 114,493 · -37.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Black 5% Two or more races 3% Hispanic / Latino 3% Asian 2%
• Common ancestry: Slovak 5% Italian 4% Lithuanian 2%
• Foreign-born: 3% · Canada, Philippines
• Languages at home: 98% English-only · Spanish 2% Other Asian/Pacific 1%

Political lean MEDSL · Peoria

• 2024 margin: Toss-up / Even · D 51.5% · R 46.9% · Other 1.6%
• 2008→2024 swing: -9.2pp toward R · 2008: 13.9pp · 2024: 4.7pp
• All cycles: 2024: D+4.7 2020: D+6.3 2016: D+2.8 2012: D+4.4 2008: D+13.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -31.72%
• Current HPI: 207.0938
• 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

-33.4% since first listed

11 events — show timeline

• 2026-04-08 Price Changed $24,900 RMLSA as Distributed by MLS Grid
• 2026-03-04 Listed $29,900 RMLSA as Distributed by MLS Grid
• 2026-01-25 Listing Removed — RMLSA as Distributed by MLS Grid
• 2025-10-21 Listed — RMLSA as Distributed by MLS Grid
• 2025-06-11 Listing Removed — RMLSA as Distributed by MLS Grid
• 2025-06-01 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-05-09 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-04-23 Listed — RMLSA as Distributed by MLS Grid
• 2000-06-21 Sold (Public Records) $36,000 Public Records
• 2000-06-20 Sold (MLS) $35,750 RMLSA as Distributed by MLS Grid
• 2000-05-25 Listed $37,400 RMLSA as Distributed by MLS Grid

Property tax history

+2.8%/yr

Latest (2024): $887 · +14.9% YoY. Source: county tax records.