401 E College St · Kewanee, IL 61443

$89,900

2 bd · 1.0 ba · 1,227 sqft · Other public records · 23 Days on market

Built 1948 8,276 sqft lot

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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 +24.7/30.0
• DSCR +8.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks

Charming 2-3-bedroom, ranch style home in Wethersfield. This home features a functional layout, spacious living areas and an attached 1 car garage. Situated on a desirable corner lot, the property includes a back yard patio.

Key facts

• Back yard patio
• Ranch style home
• Functional layout

Tags

• RANCH STYLE HOME
• FUNCTIONAL LAYOUT
• SPACIOUS LIVING AREAS
• CORNER LOT
• BACK YARD PATIO

Property features AI

Finance

• HOA & community: No master association fees required

Exterior

• Utilities: Public water; Public sewer
• Home design: Detached single-family home; One story
• Construction: Built approximately 71–80 years ago; Built before 1978; Asphalt roof; Other construction materials
• Exterior features: Corner lot; Level lot; Lot dimensions approximately 90 x 90

Interior

• Kitchen: Range; Dishwasher; Refrigerator
• Bedrooms: Master bedroom (Main level, 17 x 12); Bedroom 2 (Main level, 15 x 11); Additional bedrooms listed
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Five total rooms; Bonus room (10 x 10); Living room (17 x 21); Family room; Dining room
• Laundry & utility: Laundry room; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $90k.

Deal economics

• At list price, monthly cash flow is $188 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $89k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#409 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: schools F, crime D-, amenities F.
• Wethersfield CUSD 230 (town): math 16% / reading 30% proficiency, ranked #391 of 620 in IL (top 63%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 39 active listings in the ZIP; 32 units permitted in Henry County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Henry County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($89k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $88,551 (1.5% below list)

Questions for the listing agent

1. Built in 1948 — 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 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?
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: 1.15% ✓
• Cap rate: 8.80%
• Cash-on-cash: 8.95%
• DSCR: 1.40
• GRM: 7.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -2.7%
• Equity multiple: 0.90×
• Total profit: $-2,595
• Equity at exit: $13,404

10-year hold

• IRR: 7.0%
• Equity multiple: 1.52×
• Total profit: $13,214
• Equity at exit: $7,773

Cash invested: $25,172 (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 61443

• Active inventory: 39
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,034 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$121 /mo · $1,447/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$217
• Net cashflow: $188

Break-even live

Break-even rent $797

Max offer price $89,900

Occupancy floor 77%

Sensitivity live

Price	-10% $239	-5% $213	+0% $188	+5% $162	+10% $137
Rent	-10% $106	-5% $147	+0% $188	+5% $229	+10% $269
Rate	-1.0pp $233	-0.5pp $211	base $188	+0.5pp $164	+1.0pp $141

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $89,900 Active 23 DOM
2. 2026-06-18
   days on market $89,900 Active 21 DOM
3. 2026-06-18
   price $89,900 Active 20 DOM
4. 2026-06-17
   days on market $95,000 Active 20 DOM
5. 2026-06-16
   days on market $95,000 Active 19 DOM
6. 2026-06-15
   days on market $95,000 Active 18 DOM
7. 2026-06-13
   days on market $95,000 Active 16 DOM
8. 2026-06-12
   days on market $95,000 Active 15 DOM
9. 2026-06-09
   days on market $95,000 Active 12 DOM
10. 2026-06-08
    days on market $95,000 Active 11 DOM
11. 2026-06-07
    days on market $95,000 Active 10 DOM
12. 2026-06-05
    days on market $95,000 Active 8 DOM
13. 2026-06-04
    days on market $95,000 Active 6 DOM
14. 2026-06-02
    days on market $95,000 Active 5 DOM
15. 2026-06-01
    days on market $95,000 Active 4 DOM
16. 2026-05-31
    days on market $95,000 Active 3 DOM
17. 2026-05-31
    days on market $95,000 Active 2 DOM
18. 2026-05-28
    listed $95,000 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: $1,447 · $121/mo
• Projected year-2 tax: $1,744 · $145/mo
• Expected delta: +$297/yr (+$25/mo · 20.5%)

ⓘ 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 ≥102°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,413
• − Mortgage interest: −$5,036
• − Property taxes: −$1,447
• − Insurance: −$450
• − Repairs & maintenance: −$993
• − Management: −$993
• − Depreciation: −$2,615
• Taxable income: $879
• Est. tax owed @ 24.0%: −$211
• After-tax cash flow: $2,041/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: Wethersfield CUSD 230
• NCES district ID: 1742060
• Math proficiency: 16% ▼ -10.00%
• Reading proficiency: 30% ▼ -11.00%
• Median HH income: $38,899
• Composite: 19.29/100
• National rank: #8800
• State rank: #391 of 620 in IL

Livability — Kewanee

• Score: 69/100
• State rank: #409
• US rank: #8423

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kewanee, IL
• Population (ZIP): 13,529

Population outlook (Henry County) Hauer SSP2

• Today (2025): 47,376 people
• By 2030: 45,920 · -3.1%
• By 2040: 42,829 · -9.6%
• By 2050: 39,606 · -16.4%
• By 2075: 31,848 · -32.8%
• By 2100: 23,503 · -50.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Hispanic / Latino 11% Black 6% Two or more races 5%
• Hispanic origin (detail): Mexican 9% Puerto Rican 1%
• Common ancestry: Romanian 4% English 3% Italian 3%
• Foreign-born: 3% · Canada
• Languages at home: 92% English-only · Spanish 7%

Political lean MEDSL · Henry

• 2024 margin: Strong R (+24.5) · D 36.8% · R 61.3% · Other 1.9%
• 2008→2024 swing: -32.2pp toward R · 2008: 7.7pp · 2024: -24.5pp
• All cycles: 2024: R+24.5 2020: R+21.4 2016: R+21.2 2012: D+3.1 2008: D+7.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -68.32%
• Current HPI: 121.8672
• 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

• 2026-05-28 Listed $95,000 MRED as Distributed by MLS Grid

Property tax history

+4.0%/yr

Latest (2024): $1,447 · +10.5% YoY. Source: county tax records.