514 Harrison St · Villa Grove, IL 61956

$75,000

3 bd · 1.0 ba · 1,371 sqft · SingleFamily public records · 28 Days on market

Built 1909 6,186 sqft lot $55/sqft · 19% below area Est $92k · 19% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Make this three bedroom home your own or add to your portfolio! The flowing layout begins in the spacious living room, continues into the separate dining room and large kitchen. You'll love the space found in all three bedrooms. Relax under the beautiful shade trees in the yard and discover fantastic storage in the attached garage! Sold as is.

Key facts

• 6,186 sq ft lot
• Garage
• Built 1909

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $-59 ($-707/yr) — negative.
• To cash-flow at today's rent, offer at most $65k (13.9% below list).
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $65k (13.9% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 64/100 on livability (#713 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, housing A; Watch: employment D, schools D-, amenities F.
• Villa Grove CUSD 302 (rural): math 15% / reading 19% proficiency, ranked #464 of 620 in IL (top 75%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 10 active listings in the ZIP; 36 units permitted in Douglas County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Douglas County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 18y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $58k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $460/mo; built in 1909 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $64,592 (13.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1909 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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: 1.56% ✓
• Cap rate: 12.72%
• Cash-on-cash: 22.94%
• DSCR: 2.02
• GRM: 5.4

CMA / ARV

• ARV (median comp): $92,300
• List price: $75,000
• Delta: -18.74%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
502 North Pine St	0.31mi	3/1.0	1,372 (+0%)	16mo	$215,000	$157	72
506 W Wilson St	0.14mi	3/1.0	1,231 (-10%)	5mo	$140,000	$114	72
11 N Richman St	0.22mi	3/2.0	1,396 (+2%)	19mo	$110,000	$79	67
404 S Elm St	0.72mi	3/1.0	1,350 (-2%)	3mo	$86,000	$64	62
201 S Douglas St	0.37mi	3/1.5	1,246 (-9%)	6mo	$85,000	$68	60
301 S Douglas St	0.44mi	3/1.5	1,512 (+10%)	4mo	$119,500	$79	57
206 N Pine St	0.26mi	3/0.5	1,192 (-13%)	10mo	$102,000	$86	56
412 W Harrison St	0.08mi	2/2.0 (-1)	1,175 (-14%)	12mo	$48,000	$41	53
111 S Pine St	0.44mi	3/2.0	1,290 (-6%)	16mo	$112,500	$87	52
203 Ruby St	0.56mi	4/2.0 (+1)	1,408 (+3%)	14mo	$160,000	$114	49
501 S Spruce St	0.72mi	3/2.0	1,460 (+6%)	7mo	$48,000	$33	46
112 W Vine St	0.29mi	3/1.5	1,570 (+14%)	21mo	$130,000	$83	43

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: -21.4%
• Equity multiple: 0.26×
• Total profit: $-15,604
• Equity at exit: $11,183

10-year hold

• IRR: -13.9%
• Equity multiple: 0.18×
• Total profit: $-17,193
• Equity at exit: $6,485

Cash invested: $21,000 (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 61956

• Home prices YoY: -9.3%
• Active inventory: 10
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,167 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$96 /mo · $1,152/yr
• Insurance: −$31
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $-59

Break-even live

Break-even rent $1,242

Max offer price $64,592

Occupancy floor —

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $75,000 Active 28 DOM
2. 2026-06-17
   days on market $75,000 Active 27 DOM
3. 2026-06-16
   days on market $75,000 Active 26 DOM
4. 2026-06-15
   days on market $75,000 Active 25 DOM
5. 2026-06-13
   days on market $75,000 Active 23 DOM
6. 2026-06-12
   days on marketlisting id $75,000 Active 22 DOM
7. 2026-06-09
   days on market $75,000 Active 256 DOM
8. 2026-06-08
   days on market $75,000 Active 255 DOM
9. 2026-06-07
   days on market $75,000 Active 254 DOM
10. 2026-06-05
    days on market $75,000 Active 252 DOM
11. 2026-06-04
    days on market $75,000 Active 250 DOM
12. 2026-06-02
    days on market $75,000 Active 249 DOM
13. 2026-06-01
    days on market $75,000 Active 248 DOM
14. 2026-05-31
    days on market $75,000 Active 247 DOM
15. 2026-05-31
    days on market $75,000 Active 246 DOM
16. 2025-09-26
    listed $75,000 Active 345-char remark

    Show marketing remark (345 chars)

    Make this three bedroom home your own or add to your portfolio! The flowing layout begins in the spacious living room, continues into the separate dining room and large kitchen. You'll love the space found in all three bedrooms. Relax under the beautiful shade trees in the yard and discover fantastic storage in the attached garage! Sold as is.

17. 2009-02-25
    soldstatus $58,000 82-char remark

    Show marketing remark (82 chars)

    IMMACULATE 3 BEDROOM HOME, SPACIOUS LIVING ROOM KITCHEN W/PLENTY OF WOOD CABINETS.

18. 2009-02-25
    soldstatus $58,000

    Show marketing remark (82 chars)

    IMMACULATE 3 BEDROOM HOME, SPACIOUS LIVING ROOM KITCHEN W/PLENTY OF WOOD CABINETS.

19. 2008-10-23
    listed $69,500 82-char remark

    Show marketing remark (82 chars)

    IMMACULATE 3 BEDROOM HOME, SPACIOUS LIVING ROOM KITCHEN W/PLENTY OF WOOD CABINETS.

ⓘ 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: $1,152 · $96/mo
• Projected year-2 tax: $1,427 · $119/mo
• Expected delta: +$275/yr (+$23/mo · 23.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone AE · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥105°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,006
• − Mortgage interest: −$4,201
• − Property taxes: −$1,152
• − Insurance: −$5,900
• − Repairs & maintenance: −$1,120
• − Management: −$1,120
• − Depreciation: −$2,182
• Taxable loss: −$1,670
• Est. tax savings @ 24.0%: +$401
• After-tax cash flow: $-306/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: Villa Grove CUSD 302
• NCES district ID: 1740320
• Math proficiency: 15% ▼ -6.00%
• Reading proficiency: 19% ▼ -12.00%
• Median HH income: $52,614
• Composite: 15.67/100
• National rank: #9286
• State rank: #464 of 620 in IL

Livability — Villa Grove

• Score: 64/100
• State rank: #713
• US rank: #14496

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Villa Grove, IL
• Population (ZIP): 3,046

Population outlook (Douglas County) Hauer SSP2

• Today (2025): 19,209 people
• By 2030: 18,940 · -1.4%
• By 2040: 18,397 · -4.2%
• By 2050: 17,829 · -7.2%
• By 2075: 16,395 · -14.6%
• By 2100: 14,329 · -25.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Asian 1% Hispanic / Latino 1% Two or more races 1%
• Common ancestry: Italian 2% Iranian 2% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Russian/Polish/Slavic 1% Spanish 1% French/Haitian/Cajun 1%

Political lean MEDSL · Douglas

• 2024 margin: Solid R (+46.1) · D 26.1% · R 72.3% · Other 1.6%
• 2008→2024 swing: -24.9pp toward R · 2008: -21.3pp · 2024: -46.1pp
• All cycles: 2024: R+46.1 2020: R+44.4 2016: R+46.3 2012: R+36.8 2008: R+21.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -21.97%
• Current HPI: 213.6799
• 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

+7.9% since first listed

4 events — show timeline

• 2025-09-26 Listed $75,000 MRED as Distributed by MLS Grid
• 2009-02-25 Sold (Public Records) $58,000 Public Records
• 2009-02-25 Sold (MLS) $58,000 MRED as Distributed by MLS Grid
• 2008-10-23 Listed $69,500 MRED as Distributed by MLS Grid

Property tax history

-2.8%/yr

Latest (2024): $1,152 · +92.3% YoY. Source: county tax records.