308 S 8th St · DeKalb, IL 60115

$179,900

4 bd · 2.0 ba · 1,730 sqft · Other public records · 33 Days on market

Built 1886 10,297 sqft lot $104/sqft · 10% below area Est $200k · 10% 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 +18.8/30.0
• ARV discount +12.0/15.0
• 1% rule +6.5/10.0
• DSCR +5.9/10.0
• Rent growth +4.3/5.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Well maintained and nicely updated 3+ bedroom, 2 full bath home in great location close to park, recreation center and within walking to downtown. Spacious home with multiple flex rooms which could be extra bedrooms/offices has hardwood throughout, kitchen with 42" maple cabinets, stainless steel appliances, main floor laundry, separate dining room with adjoining living room. Nice layout for work from home or a multi-generational household with updated full bathrooms on main level and upstairs. Detached 2 car garage, shed and fenced rear yard with no home behind and charming covered from porch. Updates include siding, roof shingles & flat roof membrane, windows & updated electrical.

Key facts

• 0.24 acre lot
• 2 garage spots
• Pool

Property features AI

Finance

• Other: Living area source: Assessor; Main level and upper level finished area reported (approx. total finished 1,730); Total finished/unfinshed reported (2,830); Unfinished basement approx. 1,100; Lot dimensions approx. 66 x 156 (less than 0.25 acre); Some photos virtually staged
• Financial info: Special service area: No
• HOA & community: No master association fee required

Exterior

• Parking: Detached garage with 2 garage spaces; Garage owned with garage door opener; Concrete parking
• Security: CO detectors
• Utilities: Public water; Public sewer; Electric with circuit breakers; Gas for heating and water heater
• Home design: Detached single-family home; 2 stories; Fee simple ownership; Property over 100 years old; Built before 1978
• Construction: Vinyl siding; Asphalt roof; Block and brick/mortar foundation
• Exterior features: Above-ground pool; Fenced yard; Park nearby; Curbs, sidewalks, street lights, paved streets

Interior

• Kitchen: Range; Dishwasher; Refrigerator; Disposal; Eating area / table space
• Bedrooms: Primary bedroom on second level (13 x 13, hardwood); Second bedroom on second level (13 x 10, hardwood); Third bedroom on main level (13 x 10, hardwood); Office on second level (10 x 9, hardwood)
• Flooring: Hardwood flooring in most bedrooms, living and dining areas; Carpet in family room; Vinyl flooring in kitchen; Wood laminate in laundry
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas forced-air heating; Wall cooling units
• Interior features: Separate dining room; Unfinished full basement with crawl space; Radon mitigation system; CO detectors; Ceiling fans; Water heater (gas)
• Laundry & utility: Main-level laundry (6 x 5) with gas dryer hookup; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $180k.

Deal economics

• At list price, monthly cash flow is $181 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $175k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.5% vs local median 4.4% in DeKalb — 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 77/100 on livability (#154 in IL, #2,835 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities D+, schools D, crime D-.
• Dekalb CUSD 428 (suburban): math 11% / reading 16% proficiency, ranked #541 of 620 in IL (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+7.3%/yr); 85 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 260 units permitted in DeKalb County in 2024 (73 in 5+ unit buildings).
• At $2,065/mo this rent would consume 53% of the median local household income ($47k/yr) (locally 3794% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• DeKalb County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 7.3% rent growth), your $50k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 17y ago; this cycle's ask is 7% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; built in 1886 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $174,503 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1886 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 1.15% ✓
• Cap rate: 7.50%
• Cash-on-cash: 4.30%
• DSCR: 1.19
• GRM: 7.3

CMA / ARV

• ARV (median comp): $199,869
• List price: $179,900
• Delta: -9.99%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 7.33% rent growth · sell at horizon

5-year hold

• IRR: -4.1%
• Equity multiple: 0.84×
• Total profit: $-8,096
• Equity at exit: $26,824

10-year hold

• IRR: 10.5%
• Equity multiple: 2.00×
• Total profit: $50,550
• Equity at exit: $15,554

Cash invested: $50,372 (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 60115

• Home prices YoY: -31.9%
• Rents YoY: 7.3%
• Active inventory: 85
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $2,065 medium
• Mortgage (P&I): −$943
• Tax from tax record: −$433 /mo · $5,191/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$434
• Net cashflow: $181

Break-even live

Break-even rent $1,837

Max offer price $179,900

Occupancy floor 86%

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
650 Normal Rd DeKalb, IL	4.0	3.0	2175	$2,300	$1.06	44d	1	1.48mi

Listing history 35 events

1. 2026-06-09
   days on market $179,900 Active 33 DOM
2. 2026-06-08
   days on market $179,900 Active 32 DOM
3. 2026-06-07
   days on market $179,900 Active 31 DOM
4. 2026-06-04
   days on market $179,900 Active 28 DOM
5. 2026-06-03
   days on market $179,900 Active 27 DOM
6. 2026-06-02
   days on market $179,900 Active 26 DOM
7. 2026-06-01
   days on market $179,900 Active 25 DOM
8. 2026-05-31
   days on market $179,900 Active 24 DOM
9. 2026-05-06
   listed $185,240 Active 1489-char remark
10. 2026-04-29
    historical Contingent - Continue to Show
11. 2026-04-28
    historical
12. 2026-04-20
    price
13. 2026-04-13
    price
14. 2026-03-19
    listed Active
15. 2022-11-07
    soldstatus $170,000
16. 2022-11-04
    historical

    Show marketing remark (705 chars)

    Well maintained and nicely updated 3+ bedroom, 2 full bath home in great location close to park, recreation center and within walking to downtown. Spacious home with multiple flex rooms which could be extra bedrooms/offices has hardwood throughout, kitchen with 42" maple cabinets, stainless steel appliances, main floor laundry, separate dining room with adjoining living room. Nice layout for work from home or a multi-generational household with updated full bathrooms on main level and upstairs. Detached 2 car garage, shed and fenced rear yard with no home behind and charming covered from porch. Updates include siding, roof shingles & flat roof membrane, windows & updated electrical.

17. 2022-11-04
    soldstatus $170,000 Closed

    Show marketing remark (705 chars)

    Well maintained and nicely updated 3+ bedroom, 2 full bath home in great location close to park, recreation center and within walking to downtown. Spacious home with multiple flex rooms which could be extra bedrooms/offices has hardwood throughout, kitchen with 42" maple cabinets, stainless steel appliances, main floor laundry, separate dining room with adjoining living room. Nice layout for work from home or a multi-generational household with updated full bathrooms on main level and upstairs. Detached 2 car garage, shed and fenced rear yard with no home behind and charming covered from porch. Updates include siding, roof shingles & flat roof membrane, windows & updated electrical.

18. 2022-09-29
    historical Contingent - Continue to Show

    Show marketing remark (705 chars)

    Well maintained and nicely updated 3+ bedroom, 2 full bath home in great location close to park, recreation center and within walking to downtown. Spacious home with multiple flex rooms which could be extra bedrooms/offices has hardwood throughout, kitchen with 42" maple cabinets, stainless steel appliances, main floor laundry, separate dining room with adjoining living room. Nice layout for work from home or a multi-generational household with updated full bathrooms on main level and upstairs. Detached 2 car garage, shed and fenced rear yard with no home behind and charming covered from porch. Updates include siding, roof shingles & flat roof membrane, windows & updated electrical.

19. 2022-09-19
    price $164,000

    Show marketing remark (705 chars)

    Well maintained and nicely updated 3+ bedroom, 2 full bath home in great location close to park, recreation center and within walking to downtown. Spacious home with multiple flex rooms which could be extra bedrooms/offices has hardwood throughout, kitchen with 42" maple cabinets, stainless steel appliances, main floor laundry, separate dining room with adjoining living room. Nice layout for work from home or a multi-generational household with updated full bathrooms on main level and upstairs. Detached 2 car garage, shed and fenced rear yard with no home behind and charming covered from porch. Updates include siding, roof shingles & flat roof membrane, windows & updated electrical.

20. 2022-09-08
    listed $168,500 Active

    Show marketing remark (705 chars)

    Well maintained and nicely updated 3+ bedroom, 2 full bath home in great location close to park, recreation center and within walking to downtown. Spacious home with multiple flex rooms which could be extra bedrooms/offices has hardwood throughout, kitchen with 42" maple cabinets, stainless steel appliances, main floor laundry, separate dining room with adjoining living room. Nice layout for work from home or a multi-generational household with updated full bathrooms on main level and upstairs. Detached 2 car garage, shed and fenced rear yard with no home behind and charming covered from porch. Updates include siding, roof shingles & flat roof membrane, windows & updated electrical.

21. 2016-05-27
    soldstatus $85,000
22. 2016-05-13
    soldstatus $85,000 Closed Sale
23. 2016-03-11
    status Contingent (Do Not Show)
24. 2016-03-09
    status Reactivated
25. 2016-03-03
    historical
26. 2016-02-18
    price $89,900
27. 2016-01-27
    price $94,500
28. 2016-01-01
    price $104,500
29. 2015-12-14
    listed $119,900 New
30. 2010-03-11
    historical
31. 2009-11-12
    price Price Change
32. 2009-10-07
    price Price Change
33. 2009-09-10
    listed New
34. 2003-07-28
    soldstatus $134,000
35. 1998-06-12
    soldstatus $96,000

ⓘ 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: $5,191 · $433/mo
• Projected year-2 tax: $5,191 · $433/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 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,784
• − Mortgage interest: −$10,077
• − Property taxes: −$5,191
• − Insurance: −$900
• − Repairs & maintenance: −$1,983
• − Management: −$1,983
• − Depreciation: −$5,233
• Taxable loss: −$583
• Est. tax savings @ 24.0%: +$140
• After-tax cash flow: $2,308/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: Dekalb CUSD 428
• NCES district ID: 1712000
• Math proficiency: 11% ▼ -9.00%
• Reading proficiency: 16% ▼ -6.00%
• Median HH income: $42,007
• Composite: 11.74/100
• National rank: #9685
• State rank: #541 of 620 in IL

Livability — DeKalb

• Score: 77/100
• State rank: #154
• US rank: #2835

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: DeKalb, IL
• County: DeKalb County · 64,760 people
• City population: 42,536
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 42,536
• Household income: $47,043
• Rent vs Own: 57.0% rent · 43.0% own
• Severe rent burden: 3794.0

Population outlook (DeKalb County) Hauer SSP2

• Today (2025): 104,983 people
• By 2030: 104,428 · -0.5%
• By 2040: 102,199 · -2.7%
• By 2050: 99,303 · -5.4%
• By 2075: 93,978 · -10.5%
• By 2100: 88,527 · -15.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 58% Hispanic / Latino 18% Black 15% Two or more races 12% Asian 4%
• Hispanic origin (detail): Mexican 14% Puerto Rican 2%
• Common ancestry: Romanian 5% Portuguese 3% Lithuanian 2%
• Foreign-born: 9% · Canada, China
• Languages at home: 82% English-only · Spanish 10% Arabic 2% Other Indo-European 2%

Political lean MEDSL · DeKalb

• 2024 margin: Toss-up / Even · D 50.1% · R 48.1% · Other 1.7%
• 2008→2024 swing: -14.8pp toward R · 2008: 16.8pp · 2024: 2.0pp
• All cycles: 2024: D+2.0 2020: D+5.7 2016: D+3.0 2012: D+5.5 2008: D+16.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -89.56%
• Current HPI: 191.1189
• Rent YoY: ▲ 7.33%
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• 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

+77.1% since first listed

29 events — show timeline

• 2026-06-12 Listing Removed — MRED as Distributed by MLS Grid
• 2026-05-20 Price Changed — MRED as Distributed by MLS Grid
• 2026-05-06 Listed — MRED as Distributed by MLS Grid
• 2026-04-29 Contingent — MRED as Distributed by MLS Grid
• 2026-04-28 Listing Removed — MRED as Distributed by MLS Grid
• 2026-04-20 Price Changed — MRED as Distributed by MLS Grid
• 2026-04-13 Price Changed — MRED as Distributed by MLS Grid
• 2026-03-19 Listed — MRED as Distributed by MLS Grid
• 2022-11-07 Sold (Public Records) $170,000 Public Records
• 2022-11-04 Listing Removed — MRED as Distributed by MLS Grid
• 2022-11-04 Sold (MLS) $170,000 MRED as Distributed by MLS Grid
• 2022-09-29 Contingent — MRED as Distributed by MLS Grid
• 2022-09-19 Price Changed $164,000 MRED as Distributed by MLS Grid
• 2022-09-08 Listed $168,500 MRED as Distributed by MLS Grid
• 2016-05-27 Sold (Public Records) $85,000 Public Records
• 2016-05-13 Sold (MLS) $85,000 MRED as Distributed by MLS Grid
• 2016-03-11 Pending — MRED as Distributed by MLS Grid
• 2016-03-09 Relisted — MRED as Distributed by MLS Grid
• 2016-03-03 Listing Removed — MRED as Distributed by MLS Grid
• 2016-02-18 Price Changed $89,900 MRED as Distributed by MLS Grid
• 2016-01-27 Price Changed $94,500 MRED as Distributed by MLS Grid
• 2016-01-01 Price Changed $104,500 MRED as Distributed by MLS Grid
• 2015-12-14 Listed $119,900 MRED as Distributed by MLS Grid
• 2010-03-11 Listing Removed — MRED as Distributed by MLS Grid
• 2009-11-12 Price Changed — MRED as Distributed by MLS Grid
• 2009-10-07 Price Changed — MRED as Distributed by MLS Grid
• 2009-09-10 Listed — MRED as Distributed by MLS Grid
• 2003-07-28 Sold (Public Records) $134,000 Public Records
• 1998-06-12 Sold (Public Records) $96,000 Public Records

Property tax history

+0.6%/yr

Latest (2025): $5,191 · +8.6% YoY. Source: county tax records.