112 Walnut St · Oakland, IL 61943

$19,000

3 bd · 1.0 ba · 1,177 sqft · SingleFamily public records · 140 Days on market

Built 1867 0.30 ac lot $16/sqft · 78% below area ↓ 17% since listing

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +2.1/10.0
• Schools +1.7/10.0

Listing remarks MLS

Endless potential awaits with this 2 bedroom home situated on a desirable corner lot in Oakland! Whether you're looking for a fixer-upper to renovate or the perfect site to build your dream home, this property offers a rare opportunity. Located just blocks from the city park, you'll love the convenient location and neighborhood feel. Sold as is. Bring your vision and unlock the possibilities!

Key facts

• 0.3 acre lot
• 2 garage spots
• Built 1867

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $19k.

Deal economics

• At list price, monthly cash flow is $645 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $19k).
• Recommended offer: $17k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#703 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Oakland CUSD 5 (rural): math 15% / reading 15% proficiency, ranked #776 of 919 in IL (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 5 active listings in the ZIP; 34 units permitted in Coles County in 2024 (30 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $131 of loan paydown is wiped out by about $570 of value loss. Plan a longer hold.
• Coles County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $5k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 140 days — a 12% lower offer ($17k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $4k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price; built in 1867 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $16,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 140 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 1867 — 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 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 5.35% ✓
• Cap rate: 47.03%
• Cash-on-cash: 145.49%
• DSCR: 7.47
• GRM: 1.6

CMA / ARV

• ARV (median comp): $63,003
• List price: $19,000
• Delta: -69.84%
• Verdict: UNDERPRICED
• Comps: 10 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
112 Main St	0.19mi	3/1.0	1,128 (-4%)	1mo	$35,000	$31	83
112 E Main St	0.19mi	3/1.0	1,128 (-4%)	1mo	$35,000	$31	83
315 W Main St	0.34mi	2/1.0 (-1)	1,245 (+6%)	4mo	$38,900	$31	66
315 Main St	0.34mi	2/1.0 (-1)	1,245 (+6%)	4mo	$38,900	$31	66
110 W Washington St	0.21mi	2/1.0 (-1)	1,204 (+2%)	20mo	$69,000	$57	65
207 N Jonathan St	0.35mi	3/1.0	1,260 (+7%)	15mo	$94,500	$75	60
123 W Montgomery St	0.21mi	3/1.0	1,050 (-11%)	22mo	$150,000	$143	54
215 E Blevins St	0.50mi	2/1.0 (-1)	1,337 (+14%)	10mo	$79,000	$59	41
215 E Blevins St	0.50mi	2/1.0 (-1)	1,337 (+14%)	10mo	$79,000	$59	40
3 Moore St	0.41mi	2/2.0 (-1)	1,311 (+11%)	22mo	$79,900	$61	35

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: —
• Equity multiple: 8.15×
• Total profit: $38,035
• Equity at exit: $2,833

10-year hold

• IRR: —
• Equity multiple: 17.19×
• Total profit: $86,150
• Equity at exit: $1,643

Cash invested: $5,320 (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 61943

• Home prices YoY: -3.1%
• Active inventory: 5
• Price-to-rent: 1.6×

Monthly cashflow live

• Estimated rent: $1,017 medium
• Mortgage (P&I): −$100
• Tax from tax record: −$51 /mo · $614/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$214
• Net cashflow: $645

Break-even live

Break-even rent $201

Max offer price $19,000

Occupancy floor 32%

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: $4,750
• Closing costs: $570
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $19,000 Active 140 DOM
2. 2026-06-18
   days on market $19,000 Active 139 DOM
3. 2026-06-17
   days on market $19,000 Active 138 DOM
4. 2026-06-16
   days on market $19,000 Active 137 DOM
5. 2026-06-15
   days on market $19,000 Active 136 DOM
6. 2026-06-14
   days on market $19,000 Active 134 DOM
7. 2026-06-12
   days on marketlisting id $19,000 Active 133 DOM
8. 2026-06-09
   days on market $19,000 Active 130 DOM
9. 2026-06-08
   days on market $19,000 Active 129 DOM
10. 2026-06-07
    days on market $19,000 Active 128 DOM
11. 2026-06-05
    days on market $19,000 Active 125 DOM
12. 2026-06-03
    days on market $19,000 Active 124 DOM
13. 2026-06-02
    days on market $19,000 Active 123 DOM
14. 2026-06-01
    days on market $19,000 Active 122 DOM
15. 2026-05-31
    days on market $19,000 Active 121 DOM
16. 2026-05-30
    days on market $19,000 Active 120 DOM
17. 2026-02-23
    price $19,000 395-char remark

    Show marketing remark (395 chars)

    Endless potential awaits with this 2 bedroom home situated on a desirable corner lot in Oakland! Whether you're looking for a fixer-upper to renovate or the perfect site to build your dream home, this property offers a rare opportunity. Located just blocks from the city park, you'll love the convenient location and neighborhood feel. Sold as is. Bring your vision and unlock the possibilities!

18. 2026-02-23
    price $19,000 395-char remark

    Show marketing remark (395 chars)

    Endless potential awaits with this 2 bedroom home situated on a desirable corner lot in Oakland! Whether you're looking for a fixer-upper to renovate or the perfect site to build your dream home, this property offers a rare opportunity. Located just blocks from the city park, you'll love the convenient location and neighborhood feel. Sold as is. Bring your vision and unlock the possibilities!

19. 2026-01-30
    listed $23,000 Active 395-char remark

    Show marketing remark (395 chars)

    Endless potential awaits with this 2 bedroom home situated on a desirable corner lot in Oakland! Whether you're looking for a fixer-upper to renovate or the perfect site to build your dream home, this property offers a rare opportunity. Located just blocks from the city park, you'll love the convenient location and neighborhood feel. Sold as is. Bring your vision and unlock the possibilities!

20. 2026-01-30
    listed $23,000 Active 395-char remark

    Show marketing remark (395 chars)

    Endless potential awaits with this 2 bedroom home situated on a desirable corner lot in Oakland! Whether you're looking for a fixer-upper to renovate or the perfect site to build your dream home, this property offers a rare opportunity. Located just blocks from the city park, you'll love the convenient location and neighborhood feel. Sold as is. Bring your vision and unlock the possibilities!

ⓘ 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: $614 · $51/mo
• Projected year-2 tax: $614 · $51/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 2/10 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: $12,208
• − Mortgage interest: −$1,064
• − Property taxes: −$614
• − Insurance: −$95
• − Repairs & maintenance: −$977
• − Management: −$977
• − Depreciation: −$553
• Taxable income: $7,929
• Est. tax owed @ 24.0%: −$1,903
• After-tax cash flow: $5,837/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: Oakland CUSD 5
• NCES district ID: 1729340
• Math proficiency: 15% ▲ 5.00%
• Reading proficiency: 15% ▼ -5.00%
• Median HH income: $45,744
• Composite: 16.81/100
• National rank: #14218
• State rank: #776 of 919 in IL

Livability — Oakland

• Score: 64/100
• State rank: #703
• US rank: #14339

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oakland, IL
• City population: 1,495
• Population (ZIP): 1,495

Population outlook (Coles County) Hauer SSP2

• Today (2025): 53,967 people
• By 2030: 53,829 · -0.3%
• By 2040: 52,332 · -3.0%
• By 2050: 49,989 · -7.4%
• By 2075: 42,226 · -21.8%
• By 2100: 34,675 · -35.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Slovak 4% Lithuanian 2% Iranian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Coles

• 2024 margin: Strong R (+28.5) · D 34.9% · R 63.4% · Other 1.7%
• 2008→2024 swing: -31.7pp toward R · 2008: 3.2pp · 2024: -28.5pp
• All cycles: 2024: R+28.5 2020: R+26.4 2016: R+26.4 2012: R+11.1 2008: D+3.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -5.77%
• Current HPI: 178.2297
• 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

-17.4% since first listed

4 events — show timeline

• 2026-02-23 Price Changed $19,000 CIBR
• 2026-02-23 Price Changed $19,000 MRED as Distributed by MLS Grid
• 2026-01-30 Listed $23,000 MRED as Distributed by MLS Grid
• 2026-01-30 Listed $23,000 CIBR

Property tax history

+21.7%/yr

Latest (2024): $614 · +0.2% YoY. Source: county tax records.