300 Spelter Ave · Tilton, IL 61832

$24,000

2 bd · 1.5 ba · 980 sqft · SingleFamily · 94 Days on market

Built 1994 Good condition 2.13 ac lot $24/sqft · 62% below area ↓ 19% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.2/5.0
• Condition / age +4.0/5.0
• Livability +3.2/5.0
• Schools +0.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move right in to this beautifully updated 2 bedroom, 1.5 bath home that combines modern finishes with comfortable living! Fresh flooring runs throughout the home, creating a clean and cohesive feel. The spacious living room offers plenty of room to relax or entertain, while the updated eat-in kitchen provides great functionality and style. The large primary bedroom features a private full bathroom for added comfort and convenience. Updated modern light fixtures throughout the home add the perfect finishing touch to this move-in ready property!

Key facts

• Fresh flooring
• Updated home
• Spacious living room

Tags

• UPDATED HOME
• FRESH FLOORING
• SPACIOUS LIVING ROOM
• UPDATED EAT-IN KITCHEN
• PRIVATE FULL BATHROOM
• MODERN LIGHT FIXTURES

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $24k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $527 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($876 rent vs $24k).
• Recommended offer: $22k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#702 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B; Watch: employment D+, crime D, schools F.
• Westville CUSD 2 (suburban): math 8% / reading 9% proficiency, ranked #590 of 620 in IL (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+6.9%/yr); 14 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 8 units permitted in Vermilion County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $166 of loan paydown is wiped out by about $720 of value loss. Plan a longer hold.
• Vermilion County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 6.9% rent growth), your $7k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 94 days — a 9% lower offer ($22k) is reasonable based on typical stale-listing flexibility.

Recommended offer $21,840 (9.0% below list)

Questions for the listing agent

1. It's been on market 94 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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?
6. 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.
7. 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.
8. 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: 3.65% ✓
• Cap rate: 32.62%
• Cash-on-cash: 94.03%
• DSCR: 5.18
• GRM: 2.3

CMA / ARV

• ARV (median comp): $62,863
• List price: $24,000
• Delta: -61.82%
• Verdict: UNDERPRICED
• Comps: 18 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
40 Juliana Dr	0.42mi	2/1.0	901 (-8%)	9mo	$71,000	$79	58

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 · 6.89% rent growth · sell at horizon

5-year hold

• IRR: 99.2%
• Equity multiple: 5.94×
• Total profit: $33,226
• Equity at exit: $3,578

10-year hold

• IRR: —
• Equity multiple: 14.10×
• Total profit: $88,020
• Equity at exit: $2,075

Cash invested: $6,720 (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 61832

• Home prices YoY: -19.8%
• Rents YoY: 6.9%
• Active inventory: 14
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $876 medium
• Mortgage (P&I): −$126
• Tax est. 1.5%: −$30 /mo · $360/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$184
• Net cashflow: $527

Break-even live

Break-even rent $210

Max offer price $24,000

Occupancy floor 35%

Sensitivity live

Price	-10% $543	-5% $535	+0% $527	+5% $518	+10% $510
Rent	-10% $457	-5% $492	+0% $527	+5% $561	+10% $596
Rate	-1.0pp $539	-0.5pp $533	base $527	+0.5pp $520	+1.0pp $514

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: $6,000
• Closing costs: $720
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
59 Juliana Dr Danville, IL	2.0	1.0	1000	$995	$0.99	6d	1	0.52mi
202 Hegler Ln Unit 4 Danville, IL	1.0	1.0	550	$735	$1.34	44d	1	0.53mi

Listing history 19 events

1. 2026-06-19
   days on market $24,000 Active 94 DOM
2. 2026-06-18
   days on market $24,000 Active 93 DOM
3. 2026-06-17
   days on market $24,000 Active 92 DOM
4. 2026-06-16
   days on market $24,000 Active 91 DOM
5. 2026-06-15
   days on market $24,000 Active 90 DOM
6. 2026-06-14
   days on market $24,000 Active 88 DOM
7. 2026-06-13
   days on market $24,000 Active 87 DOM
8. 2026-06-10
   days on market $24,000 Active 85 DOM
9. 2026-06-09
   days on market $24,000 Active 84 DOM
10. 2026-06-08
    days on market $24,000 Active 83 DOM
11. 2026-06-07
    days on market $24,000 Active 82 DOM
12. 2026-06-05
    days on market $24,000 Active 79 DOM
13. 2026-06-03
    days on market $24,000 Active 78 DOM
14. 2026-06-02
    days on market $24,000 Active 77 DOM
15. 2026-06-01
    days on market $24,000 Active 76 DOM
16. 2026-05-31
    days on market $24,000 Active 75 DOM
17. 2026-05-30
    days on market $24,000 Active 74 DOM
18. 2026-04-03
    price $30,500 549-char remark

    Show marketing remark (549 chars)

    Move right in to this beautifully updated 2 bedroom, 1.5 bath home that combines modern finishes with comfortable living! Fresh flooring runs throughout the home, creating a clean and cohesive feel. The spacious living room offers plenty of room to relax or entertain, while the updated eat-in kitchen provides great functionality and style. The large primary bedroom features a private full bathroom for added comfort and convenience. Updated modern light fixtures throughout the home add the perfect finishing touch to this move-in ready property!

19. 2026-03-13
    listed $37,500 Active 549-char remark

    Show marketing remark (549 chars)

    Move right in to this beautifully updated 2 bedroom, 1.5 bath home that combines modern finishes with comfortable living! Fresh flooring runs throughout the home, creating a clean and cohesive feel. The spacious living room offers plenty of room to relax or entertain, while the updated eat-in kitchen provides great functionality and style. The large primary bedroom features a private full bathroom for added comfort and convenience. Updated modern light fixtures throughout the home add the perfect finishing touch to this move-in ready property!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $10,518
• − Mortgage interest: −$1,344
• − Property taxes: −$360
• − Insurance: −$120
• − Repairs & maintenance: −$841
• − Management: −$841
• − Depreciation: −$698
• Taxable income: $6,312
• Est. tax owed @ 24.0%: −$1,515
• After-tax cash flow: $4,804/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This move-in ready property features updated finishes and a clean, cohesive interior, making it an attractive option for both buyers and renters.

Value-add opportunities

• Both painting — fresh paint can enhance curb appeal and interior aesthetics
• Both landscaping — improved landscaping can increase curb appeal and property value
• Both minor repairs — small repairs can address any minor issues and improve the home's condition

Renovation cost estimate screening

Value-add ROI direction

• Both painting — fresh paint can enhance curb appeal and interior aesthetics ↑
• Both landscaping — improved landscaping can increase curb appeal and property value ↑
• Both minor repairs — small repairs can address any minor issues and improve the home's condition ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Westville CUSD 2
• NCES district ID: 1710820
• Math proficiency: 8% ▼ -4.00%
• Reading proficiency: 9% ▼ -4.00%
• Median HH income: $41,214
• Composite: 7.54/100
• National rank: #9949
• State rank: #590 of 620 in IL

Livability — Tilton

• Score: 64/100
• State rank: #702
• US rank: #14326

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tilton, IL
• County: Vermilion County · 32,450 people
• City population: 1,730
• Metro: Danville, IL
• Population (ZIP): 32,450
• Household income: $47,332
• Rent vs Own: 40.1% rent · 59.9% own
• Severe rent burden: 1149.0

Population outlook (Vermilion County) Hauer SSP2

• Today (2025): 72,775 people
• By 2030: 69,235 · -4.9%
• By 2040: 62,360 · -14.3%
• By 2050: 55,539 · -23.7%
• By 2075: 40,606 · -44.2%
• By 2100: 26,985 · -62.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (61%)
• Race & ethnicity: White 61% Black 29% Hispanic / Latino 6% Two or more races 5% Asian 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 1% Romanian 1% Iranian 1%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 4% Other Asian/Pacific 1% Other Indo-European 1%

Political lean MEDSL · Vermilion

• 2024 margin: Solid R (+35.7) · D 31.4% · R 67.0% · Other 1.6%
• 2008→2024 swing: -36.2pp toward R · 2008: 0.6pp · 2024: -35.7pp
• All cycles: 2024: R+35.7 2020: R+32.9 2016: R+29.2 2012: R+15.7 2008: D+0.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -37.99%
• Current HPI: 154.2616
• Rent YoY: ▲ 6.89%
• Metro: Danville, IL
• 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

-18.7% since first listed

2 events — show timeline

• 2026-04-03 Price Changed $30,500 CIBR
• 2026-03-13 Listed $37,500 CIBR