420 N Church St · Princeton, IL 61356

$84,000

3 bd · 1.5 ba · 1,248 sqft · SingleFamily · 184 Days on market

Built 1891 5,619 sqft lot Est $145k · 42% under ↓ 3% since listing

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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 +24.0/30.0
• ARV discount +15.0/15.0
• 1% rule +7.7/10.0
• DSCR +7.7/10.0
• Livability +4.1/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move right in to this 3 bedroom, 1.5 bath home with it's large eat in kitchen, main floor laundry, nice large living room with crown molding and great room sizes. One bedroom on the main floor plus two additional bedrooms upstairs with a bathroom on each floor. Two car detached garage. Many rooms freshly painted. Updated electrical box and central air. This is a great home at a great price so call your broker today!

Key facts

• Brand-new windows
• Main floor laundry
• 5,619 sq ft lot

Tags

• BRAND-NEW WINDOWS
• MAIN FLOOR LAUNDRY
• DETACHED TWO-CAR GARAGE

Property features AI

Finance

• HOA & community: No master association fee required

Exterior

• Parking: Detached garage with 2 garage spaces (2 total parking spaces)
• Utilities: Public water; Public sewer; Electric service with circuit breakers and 100 amp service
• Home design: Detached single-family home; 2-story
• Construction: Vinyl siding; Asphalt roof; Built over 100 years ago; Home built before 1978
• Exterior features: Lot dimensions approximately 43 x 130; Lot size less than 0.25 acre

Interior

• Kitchen: Kitchen with eating area (approx. 13 x 15); Range; Refrigerator
• Bedrooms: 3 bedrooms (Master and Bedroom 2 on second level; Bedroom 3 on main level); Bedroom 2 approx. 15 x 9; Master bedroom approx. 13 x 15; Bedroom 3 approx. 11 x 10
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Natural gas forced air heating; Central air conditioning
• Interior features: Unfinished full basement; 5 total rooms
• Laundry & utility: Washer and Dryer included; Utility room on main level (approx. 9 x 6); Separate laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $84k.

Deal economics

• At list price, monthly cash flow is $165 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $84k).
• Recommended offer: $74k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 2.2% in Princeton — 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 82/100 on livability (#62 in IL, #1,086 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D+, amenities F.
• Princeton Hsd 500 (town): math 25% / reading 35% proficiency, ranked #488 of 919 in IL (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 44 active listings in the ZIP; 17 units permitted in Bureau County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $581 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Bureau County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 184 days — a 12% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y ago; this cycle's ask has dropped $13k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; built in 1891 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $73,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 184 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1891 — 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. 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?
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: 1.27% ✓
• Cap rate: 8.64%
• Cash-on-cash: 8.40%
• DSCR: 1.37
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $144,768
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
215 N Randolph St	0.32mi	3/1.0	1,216 (-3%)	4mo	$141,000	$116	75
126 N Randolph St	0.36mi	3/2.0	1,246 (-0%)	10mo	$165,000	$132	72
305 S Chestnut St	0.49mi	3/1.5	1,200 (-4%)	8mo	$105,000	$88	64
814 N 1st St	0.35mi	2/1.0 (-1)	1,330 (+7%)	2mo	$17,000	$13	64
116 N 1st St	0.32mi	2/2.0 (-1)	1,320 (+6%)	9mo	$174,000	$132	61
9 S Randolph St	0.43mi	2/1.0 (-1)	1,202 (-4%)	7mo	$122,000	$101	61
702 N Vernon St	0.17mi	2/1.0 (-1)	1,094 (-12%)	7mo	$75,000	$69	58
520 W Crown St	0.63mi	3/1.0	1,298 (+4%)	12mo	$151,800	$117	52
221 W Peru St	0.59mi	4/2.0 (+1)	1,320 (+6%)	8mo	$149,000	$113	50
103 S Plum St	0.65mi	4/2.0 (+1)	1,400 (+12%)	5mo	$185,000	$132	38
311 S Randolph St	0.58mi	2/1.0 (-1)	1,077 (-14%)	10mo	$125,000	$116	35
698 Downey Dr	0.75mi	3/2.0	1,410 (+13%)	9mo	$167,500	$119	34

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: -3.5%
• Equity multiple: 0.87×
• Total profit: $-3,055
• Equity at exit: $12,525

10-year hold

• IRR: 6.3%
• Equity multiple: 1.47×
• Total profit: $11,142
• Equity at exit: $7,263

Cash invested: $23,520 (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 61356

• Home prices YoY: -26.4%
• Active inventory: 44
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,066 medium
• Mortgage (P&I): −$441
• Tax from tax record: −$202 /mo · $2,423/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$224
• Net cashflow: $165

Break-even live

Break-even rent $857

Max offer price $84,000

Occupancy floor 80%

Sensitivity live

Price	-10% $212	-5% $188	+0% $165	+5% $141	+10% $117
Rent	-10% $80	-5% $122	+0% $165	+5% $207	+10% $249
Rate	-1.0pp $207	-0.5pp $186	base $165	+0.5pp $143	+1.0pp $121

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: $21,000
• Closing costs: $2,520
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-21
   days on market $84,000 Active 184 DOM
2. 2026-06-21
   days on market $84,000 Active 183 DOM
3. 2026-06-18
   days on market $84,000 Active 181 DOM
4. 2026-06-17
   days on market $84,000 Active 180 DOM
5. 2026-06-16
   days on market $84,000 Active 179 DOM
6. 2026-06-15
   days on market $84,000 Active 178 DOM
7. 2026-06-13
   days on market $84,000 Active 176 DOM
8. 2026-06-12
   days on market $84,000 Active 175 DOM
9. 2026-06-09
   days on market $84,000 Active 172 DOM
10. 2026-06-08
    days on market $84,000 Active 171 DOM
11. 2026-06-07
    days on market $84,000 Active 170 DOM
12. 2026-06-07
    days on market $84,000 Active 169 DOM
13. 2026-06-04
    days on market $84,000 Active 166 DOM
14. 2026-06-02
    days on market $84,000 Active 165 DOM
15. 2026-06-01
    days on market $84,000 Active 164 DOM
16. 2026-05-31
    days on market $84,000 Active 163 DOM
17. 2026-05-31
    days on market $84,000 Active 162 DOM
18. 2026-05-17
    status Active
19. 2026-05-17
    price $84,000
20. 2026-05-02
    historical Contingent - Continue to Show
21. 2025-12-19
    listed $97,000 Active
22. 2021-11-19
    soldstatus $89,000 Closed 419-char remark

    Show marketing remark (419 chars)

    Move right in to this 3 bedroom, 1.5 bath home with it's large eat in kitchen, main floor laundry, nice large living room with crown molding and great room sizes. One bedroom on the main floor plus two additional bedrooms upstairs with a bathroom on each floor. Two car detached garage. Many rooms freshly painted. Updated electrical box and central air. This is a great home at a great price so call your broker today!

23. 2021-11-18
    soldstatus $89,000
24. 2021-09-26
    status Active Under Contract 419-char remark

    Show marketing remark (419 chars)

    Move right in to this 3 bedroom, 1.5 bath home with it's large eat in kitchen, main floor laundry, nice large living room with crown molding and great room sizes. One bedroom on the main floor plus two additional bedrooms upstairs with a bathroom on each floor. Two car detached garage. Many rooms freshly painted. Updated electrical box and central air. This is a great home at a great price so call your broker today!

25. 2021-09-07
    listed $89,900 Active 419-char remark

    Show marketing remark (419 chars)

    Move right in to this 3 bedroom, 1.5 bath home with it's large eat in kitchen, main floor laundry, nice large living room with crown molding and great room sizes. One bedroom on the main floor plus two additional bedrooms upstairs with a bathroom on each floor. Two car detached garage. Many rooms freshly painted. Updated electrical box and central air. This is a great home at a great price so call your broker today!

26. 2017-10-23
    soldstatus $86,500
27. 2012-09-10
    historical

ⓘ 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: $2,423 · $202/mo
• Projected year-2 tax: $2,423 · $202/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 ≥103°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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,789
• − Mortgage interest: −$4,705
• − Property taxes: −$2,423
• − Insurance: −$420
• − Repairs & maintenance: −$1,023
• − Management: −$1,023
• − Depreciation: −$2,444
• Taxable income: $751
• Est. tax owed @ 24.0%: −$180
• After-tax cash flow: $1,794/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: Princeton Hsd 500
• NCES district ID: 1732700
• Math proficiency: 25% ▲ 5.00%
• Reading proficiency: 35% ▼ -5.00%
• Median HH income: $49,303
• Composite: 28.95/100
• National rank: #11941
• State rank: #488 of 919 in IL

Livability — Princeton

• Score: 82/100
• State rank: #62
• US rank: #1086

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Princeton, IL
• Population (ZIP): 10,739

Population outlook (Bureau County) Hauer SSP2

• Today (2025): 30,938 people
• By 2030: 29,461 · -4.8%
• By 2040: 26,296 · -15.0%
• By 2050: 23,271 · -24.8%
• By 2075: 17,749 · -42.6%
• By 2100: 13,107 · -57.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 6% Hispanic / Latino 4% Asian 2%
• Common ancestry: Romanian 3% Lithuanian 3% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 1% Tagalog/Filipino 1% Other Asian/Pacific 1%

Political lean MEDSL · Bureau

• 2024 margin: Strong R (+24.3) · D 36.9% · R 61.2% · Other 1.9%
• 2008→2024 swing: -30.0pp toward R · 2008: 5.7pp · 2024: -24.3pp
• All cycles: 2024: R+24.3 2020: R+21.5 2016: R+20.0 2012: R+0.2 2008: D+5.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -64.13%
• Current HPI: 178.9361
• 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

-2.9% since first listed

10 events — show timeline

• 2026-05-17 Relisted — MRED as Distributed by MLS Grid
• 2026-05-17 Price Changed $84,000 MRED as Distributed by MLS Grid
• 2026-05-02 Contingent — MRED as Distributed by MLS Grid
• 2025-12-19 Listed $97,000 MRED as Distributed by MLS Grid
• 2021-11-19 Sold (MLS) $89,000 MRED as Distributed by MLS Grid
• 2021-11-18 Sold (Public Records) $89,000 Public Records
• 2021-09-26 Pending — MRED as Distributed by MLS Grid
• 2021-09-07 Listed $89,900 MRED as Distributed by MLS Grid
• 2017-10-23 Sold (Public Records) $86,500 Public Records
• 2012-09-10 Listing Removed — MRED as Distributed by MLS Grid

Property tax history

+3.2%/yr

Latest (2024): $2,423 · +7.3% YoY. Source: county tax records.