603 W Oakland Ave · Bloomington, IL 61701

$110,000

2 bd · 1.0 ba · 1,472 sqft · SingleFamily · 236 Days on market

5,662 sqft lot $75/sqft · 20% below area Est $137k · 20% under ↓ 7% 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 +28.9/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• Rent growth +3.9/5.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This charming 2-bedroom, 1-bath home is full of character and potential! Featuring a low-maintenance steel roof, this property offers durability and peace of mind for years to come. The spacious layout includes a full basement and a partially finished walk-up attic-perfect for creating a third bedroom, office, or bonus living area. Outside, you'll find ample storage and workspace with both a storage shed and a detached garage, providing plenty of room for vehicles, yard equipment, and hobbies. With its inviting charm and flexible spaces, this home is ready for you to make it your own!

Key facts

• 5,662 sq ft lot
• 2 garage spots
• Listed 236 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $372 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $97k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.4% vs local median 5.4% in Bloomington — 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 77/100 on livability (#161 in IL, #2,987 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, amenities C-, commute F.
• Bloomington SD 87 (urban): math 14% / reading 19% proficiency, ranked #476 of 620 in IL (top 77%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+5.6%/yr); 92 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 247 units permitted in McLean County in 2024 (54 in 5+ unit buildings).
• This rent runs 30% of the median local income ($57k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 5.6% rent growth), your $31k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 236 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $17k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $96,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 236 days. Have you received any prior offers? Is the seller open to a 12% 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. 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.
5. 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.
6. 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: 1.31% ✓
• Cap rate: 10.35%
• Cash-on-cash: 14.49%
• DSCR: 1.64
• GRM: 6.4

CMA / ARV

• ARV (median comp): $137,468
• List price: $110,000
• Delta: -19.98%
• 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
1005 S Lee St	0.23mi	2/1.0	1,374 (-7%)	6mo	$99,000	$72	73
814 W Mill St	0.18mi	3/2.0 (+1)	1,554 (+6%)	2mo	$167,500	$108	71
507 W Oakland Ave	0.09mi	3/1.5 (+1)	1,256 (-15%)	2mo	$195,000	$155	63
1213 S Madison St	0.48mi	2/1.0	1,347 (-8%)	2mo	$94,000	$70	62
1022 W Taylor St	0.32mi	2/1.5	1,290 (-12%)	1mo	$150,000	$116	61
310 S Western Ave	0.42mi	3/1.0 (+1)	1,323 (-10%)	1mo	$41,000	$31	58
406 E Oakland Ave	0.56mi	2/1.0	1,356 (-8%)	6mo	$59,000	$44	56
1211 S Lee St	0.36mi	3/2.5 (+1)	1,332 (-10%)	2mo	$162,000	$122	54
1201 S East St	0.59mi	2/1.0	1,616 (+10%)	3mo	$115,000	$71	54
1307 S Main St	0.58mi	2/1.0	1,298 (-12%)	1mo	$158,000	$122	53
1226 Low St	0.42mi	3/2.0 (+1)	1,325 (-10%)	5mo	$196,000	$148	50
109 W Mulberry St	0.74mi	3/2.0 (+1)	1,600 (+9%)	2mo	$61,000	$38	40

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 · 5.6% rent growth · sell at horizon

5-year hold

• IRR: 7.9%
• Equity multiple: 1.32×
• Total profit: $9,759
• Equity at exit: $16,401

10-year hold

• IRR: 19.3%
• Equity multiple: 2.81×
• Total profit: $55,840
• Equity at exit: $9,511

Cash invested: $30,800 (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 61701

• Rents YoY: 5.6%
• Active inventory: 92
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,440 high
• Mortgage (P&I): −$577
• Tax from tax record: −$143 /mo · $1,719/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$302
• Net cashflow: $372

Break-even live

Break-even rent $970

Max offer price $110,000

Occupancy floor 69%

Sensitivity live

Price	-10% $434	-5% $403	+0% $372	+5% $341	+10% $310
Rent	-10% $258	-5% $315	+0% $372	+5% $429	+10% $486
Rate	-1.0pp $427	-0.5pp $400	base $372	+0.5pp $343	+1.0pp $314

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
703 W Olive St Bloomington, IL	3.0	1.0	1000	$1,495	$1.50	22d	1	0.23mi
507 1/2 S Clayton St Bloomington, IL	3.0	1.0	1003	$1,895	$1.89	22d	1	0.74mi
318 E Locust St Apt A Bloomington, IL	3.0	2.0	1200	$3,000	$2.50	45d	1	0.93mi
915 N Madison St Unit 4 Bloomington, IL	2.0	1.0	900	$899	$1.00	22d	1	0.98mi
1619 R T Dunn Dr Bloomington, IL	3.0	2.0	1200	$1,300	$1.08	22d	1	1.03mi
1102 N Madison St Bloomington, IL	3.0	2.0	1603	$1,950	$1.22	22d	1	1.04mi
503 E Empire St Bloomington, IL	3.0	2.0	1000	$1,795	$1.79	45d	1	1.15mi
102 Donnie Dr Unit 1906Tra-202 Bloomington, IL	2.0	1.0	1500	$1,169	$0.78	22d	1	1.18mi
507 E Graham St Bloomington, IL	3.0	1.5	1300	$1,900	$1.46	45d	1	1.21mi
108 Oak Creek Plz Unit 3-10 Bloomington, IL	2.0	1.0	1150	$1,199	$1.04	22d	1	1.28mi
1110 E Jefferson St Unit 16 Bloomington, IL	3.0	1.5	1476	$1,675	$1.13	45d	1	1.37mi
9 Currency Dr Bloomington, IL	2.0	1.0–2.0	1075	$1,138	$1.06	22d	3	1.48mi

Listing history 18 events

1. 2026-06-15
   status $110,000 Pending 236 DOM
2. 2026-06-15
   days on market $110,000 Active 236 DOM
3. 2026-06-14
   days on market $110,000 Active 234 DOM
4. 2026-06-13
   days on market $110,000 Active 233 DOM
5. 2026-06-10
   days on market $110,000 Active 231 DOM
6. 2026-06-09
   days on market $110,000 Active 230 DOM
7. 2026-06-08
   days on market $110,000 Active 229 DOM
8. 2026-06-07
   days on market $110,000 Active 228 DOM
9. 2026-06-03
   days on market $110,000 Active 224 DOM
10. 2026-06-02
    days on market $110,000 Active 223 DOM
11. 2026-06-01
    days on market $110,000 Active 222 DOM
12. 2026-05-31
    days on market $110,000 Active 221 DOM
13. 2026-05-30
    days on market $110,000 Active 220 DOM
14. 2026-04-30
    price $118,000 591-char remark

    Show marketing remark (591 chars)

    This charming 2-bedroom, 1-bath home is full of character and potential! Featuring a low-maintenance steel roof, this property offers durability and peace of mind for years to come. The spacious layout includes a full basement and a partially finished walk-up attic-perfect for creating a third bedroom, office, or bonus living area. Outside, you'll find ample storage and workspace with both a storage shed and a detached garage, providing plenty of room for vehicles, yard equipment, and hobbies. With its inviting charm and flexible spaces, this home is ready for you to make it your own!

15. 2026-04-03
    status Active 591-char remark

    Show marketing remark (591 chars)

    This charming 2-bedroom, 1-bath home is full of character and potential! Featuring a low-maintenance steel roof, this property offers durability and peace of mind for years to come. The spacious layout includes a full basement and a partially finished walk-up attic-perfect for creating a third bedroom, office, or bonus living area. Outside, you'll find ample storage and workspace with both a storage shed and a detached garage, providing plenty of room for vehicles, yard equipment, and hobbies. With its inviting charm and flexible spaces, this home is ready for you to make it your own!

16. 2026-03-09
    historical Contingent - Continue to Show 591-char remark

    Show marketing remark (591 chars)

    This charming 2-bedroom, 1-bath home is full of character and potential! Featuring a low-maintenance steel roof, this property offers durability and peace of mind for years to come. The spacious layout includes a full basement and a partially finished walk-up attic-perfect for creating a third bedroom, office, or bonus living area. Outside, you'll find ample storage and workspace with both a storage shed and a detached garage, providing plenty of room for vehicles, yard equipment, and hobbies. With its inviting charm and flexible spaces, this home is ready for you to make it your own!

17. 2025-12-13
    price $123,079 591-char remark

    Show marketing remark (591 chars)

    This charming 2-bedroom, 1-bath home is full of character and potential! Featuring a low-maintenance steel roof, this property offers durability and peace of mind for years to come. The spacious layout includes a full basement and a partially finished walk-up attic-perfect for creating a third bedroom, office, or bonus living area. Outside, you'll find ample storage and workspace with both a storage shed and a detached garage, providing plenty of room for vehicles, yard equipment, and hobbies. With its inviting charm and flexible spaces, this home is ready for you to make it your own!

18. 2025-10-22
    listed $127,000 Active 591-char remark

    Show marketing remark (591 chars)

    This charming 2-bedroom, 1-bath home is full of character and potential! Featuring a low-maintenance steel roof, this property offers durability and peace of mind for years to come. The spacious layout includes a full basement and a partially finished walk-up attic-perfect for creating a third bedroom, office, or bonus living area. Outside, you'll find ample storage and workspace with both a storage shed and a detached garage, providing plenty of room for vehicles, yard equipment, and hobbies. With its inviting charm and flexible spaces, this home is ready for you to make it your own!

ⓘ 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: $1,719 · $143/mo
• Projected year-2 tax: $2,108 · $176/mo
• Expected delta: +$389/yr (+$32/mo · 22.6%)

ⓘ 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 ≥106°F today · 18 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,285
• − Mortgage interest: −$6,162
• − Property taxes: −$1,719
• − Insurance: −$550
• − Repairs & maintenance: −$1,383
• − Management: −$1,383
• − Depreciation: −$3,200
• Taxable income: $2,889
• Est. tax owed @ 24.0%: −$693
• After-tax cash flow: $3,771/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: Bloomington SD 87
• NCES district ID: 1706480
• Math proficiency: 14% ▼ -7.00%
• Reading proficiency: 19% ▼ -7.00%
• Median HH income: $50,544
• Composite: 15.05/100
• National rank: #9351
• State rank: #476 of 620 in IL

Livability — Bloomington

• Score: 77/100
• State rank: #161
• US rank: #2987

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bloomington, IL
• County: McLean County · 126,490 people
• City population: 72,415
• Metro: Bloomington, IL
• Population (ZIP): 35,136
• Household income: $57,130
• Rent vs Own: 43.3% rent · 56.7% own
• Severe rent burden: 1493.0

Population outlook (McLean County) Hauer SSP2

• Today (2025): 176,468 people
• By 2030: 178,002 · +0.9%
• By 2040: 178,592 · +1.2%
• By 2050: 177,090 · +0.4%
• By 2075: 173,224 · -1.8%
• By 2100: 158,425 · -10.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Black 13% Two or more races 9% Hispanic / Latino 9% Asian 3%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Romanian 3% Slovak 2% Italian 1%
• Foreign-born: 6% · Canada, Philippines, Vietnam
• Languages at home: 91% English-only · Spanish 5% Other Asian/Pacific 1% Other Indo-European 1%

Political lean MEDSL · McLean

• 2024 margin: Toss-up / Even · D 51.6% · R 46.8% · Other 1.6%
• 2008→2024 swing: +3.7pp toward D · 2008: 1.2pp · 2024: 4.9pp
• All cycles: 2024: D+4.9 2020: D+3.9 2016: R+1.5 2012: R+11.1 2008: D+1.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -115.13%
• Current HPI: 172.3659
• Rent YoY: ▲ 5.60%
• Metro: Bloomington, 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

-7.1% since first listed

5 events — show timeline

• 2026-04-30 Price Changed $118,000 MRED as Distributed by MLS Grid
• 2026-04-03 Relisted — MRED as Distributed by MLS Grid
• 2026-03-09 Contingent — MRED as Distributed by MLS Grid
• 2025-12-13 Price Changed $123,079 MRED as Distributed by MLS Grid
• 2025-10-22 Listed $127,000 MRED as Distributed by MLS Grid

Property tax history

+4.0%/yr

Latest (2023): $1,719 · +111.1% YoY. Source: county tax records.