217 W Fairground Ave · Hillsboro, IL 62049

$34,900

3 bd · 1.0 ba · 938 sqft · SingleFamily public records · 246 Days on market

Built 1940 5,458 sqft lot $37/sqft · 60% below area ↓ 35% 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
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming small-town living! This cozy 3-bedroom, 1-bath home offers comfort and convenience with a 1-car detached garage for added storage or parking. Located in the heart of the community, it’s just minutes from local schools, shops, and businesses, making daily errands and activities a breeze. Perfect for first-time buyers that are ready to bring their dreams to turn this house back into a home it deserves. Enjoy the warmth of a rural setting while still being close to everything you need. Contact listing agent with any questions. All information pulled from various sources. Buyer agent to verify information before submitting any offers.

Key facts

• Local schools
• Rural setting
• Detached garage

Tags

• DETACHED GARAGE
• LOCAL SCHOOLS
• LOCAL SHOPS
• RURAL SETTING

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $385 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($951 rent vs $35k).
• Recommended offer: $31k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#768 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, health & safety F.
• Hillsboro CUSD 3 (town): math 20% / reading 36% proficiency, ranked #282 of 620 in IL (top 46%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Beckemeyer Elem School (math 26% / reading 36%, grade F, #635 of 2,056 statewide, top 31%, 656 students, 0% FRL); Hillsboro Jr High School (math 18% / reading 41%, grade F, #256 of 665 statewide, top 41%, 345 students, 0% FRL); Hillsboro High School (math 12% / reading 17%, grade F, #479 of 693 statewide, top 71%, 468 students, 0% FRL) — zoned schools average 0% FRL vs 44% district-wide (44 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 17 active listings in the ZIP; 12 units permitted in Montgomery County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $241 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Montgomery County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 246 days — a 12% lower offer ($31k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 8y ago; this cycle's ask has dropped $25k (42%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.9% of price; flood insurance adds $56/mo; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $30,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 246 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 1940 — 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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: 2.73% ✓
• Cap rate: 21.45%
• Cash-on-cash: 54.12%
• DSCR: 3.41
• GRM: 3.1

CMA / ARV

• ARV (median comp): $87,749
• List price: $34,900
• Delta: -60.23%
• 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
217 W Fairground Ave	0.00mi	3/1.0	938 (0%)	0mo	$34,900	$37	100
211 W Fairground Ave	0.01mi	3/1.0	976 (+4%)	14mo	$73,500	$75	81
631 Chase St	0.36mi	2/1.0 (-1)	944 (+1%)	5mo	$90,000	$95	72
1311 Center St	0.26mi	2/1.0 (-1)	868 (-8%)	3mo	$135,000	$156	68
803 Smith Ln	0.40mi	3/2.0	976 (+4%)	9mo	$119,000	$122	63
136 N Hamilton St	0.71mi	2/1.0 (-1)	936 (-0%)	1mo	$105,000	$112	61
808 Smith Ln	0.44mi	2/1.0 (-1)	1,000 (+7%)	4mo	$110,000	$110	60
1446 Vandalia Rd	0.46mi	2/1.0 (-1)	988 (+5%)	14mo	$63,000	$64	53
804 Montgomery Ave	0.41mi	2/2.0 (-1)	850 (-9%)	7mo	$150,000	$176	51
537 E Tremont St	0.41mi	2/1.0 (-1)	990 (+6%)	21mo	$44,999	$45	49
807 Kimball St	0.48mi	2/1.0 (-1)	1,008 (+8%)	18mo	$88,500	$88	45
800 W Fairground Ave	0.37mi	2/1.0 (-1)	1,050 (+12%)	22mo	$25,000	$24	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 44.8%
• Equity multiple: 2.94×
• Total profit: $18,968
• Equity at exit: $5,204

10-year hold

• IRR: 50.8%
• Equity multiple: 5.96×
• Total profit: $48,476
• Equity at exit: $3,018

Cash invested: $9,772 (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 62049

• Home prices YoY: -20.9%
• Active inventory: 17
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $951 medium
• Mortgage (P&I): −$183
• Tax from tax record: −$113 /mo · $1,359/yr
• Insurance: −$15
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$200
• Net cashflow: $385

Break-even live

Break-even rent $464

Max offer price $34,900

Occupancy floor 55%

Sensitivity live

Price	-10% $405	-5% $395	+0% $385	+5% $375	+10% $365
Rent	-10% $310	-5% $348	+0% $385	+5% $423	+10% $460
Rate	-1.0pp $403	-0.5pp $394	base $385	+0.5pp $376	+1.0pp $367

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: $8,725
• Closing costs: $1,047
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-05-13
   status Pending 656-char remark

   Show marketing remark (656 chars)

   Charming small-town living! This cozy 3-bedroom, 1-bath home offers comfort and convenience with a 1-car detached garage for added storage or parking. Located in the heart of the community, it’s just minutes from local schools, shops, and businesses, making daily errands and activities a breeze. Perfect for first-time buyers that are ready to bring their dreams to turn this house back into a home it deserves. Enjoy the warmth of a rural setting while still being close to everything you need. Contact listing agent with any questions. All information pulled from various sources. Buyer agent to verify information before submitting any offers.

2. 2026-04-10
   price $34,900 656-char remark

   Show marketing remark (656 chars)

   Charming small-town living! This cozy 3-bedroom, 1-bath home offers comfort and convenience with a 1-car detached garage for added storage or parking. Located in the heart of the community, it’s just minutes from local schools, shops, and businesses, making daily errands and activities a breeze. Perfect for first-time buyers that are ready to bring their dreams to turn this house back into a home it deserves. Enjoy the warmth of a rural setting while still being close to everything you need. Contact listing agent with any questions. All information pulled from various sources. Buyer agent to verify information before submitting any offers.

3. 2026-03-18
   price $39,900 656-char remark

   Show marketing remark (656 chars)

   Charming small-town living! This cozy 3-bedroom, 1-bath home offers comfort and convenience with a 1-car detached garage for added storage or parking. Located in the heart of the community, it’s just minutes from local schools, shops, and businesses, making daily errands and activities a breeze. Perfect for first-time buyers that are ready to bring their dreams to turn this house back into a home it deserves. Enjoy the warmth of a rural setting while still being close to everything you need. Contact listing agent with any questions. All information pulled from various sources. Buyer agent to verify information before submitting any offers.

4. 2026-02-17
   price $42,000 656-char remark

   Show marketing remark (656 chars)

   Charming small-town living! This cozy 3-bedroom, 1-bath home offers comfort and convenience with a 1-car detached garage for added storage or parking. Located in the heart of the community, it’s just minutes from local schools, shops, and businesses, making daily errands and activities a breeze. Perfect for first-time buyers that are ready to bring their dreams to turn this house back into a home it deserves. Enjoy the warmth of a rural setting while still being close to everything you need. Contact listing agent with any questions. All information pulled from various sources. Buyer agent to verify information before submitting any offers.

5. 2026-02-06
   price $47,000 656-char remark

   Show marketing remark (656 chars)

   Charming small-town living! This cozy 3-bedroom, 1-bath home offers comfort and convenience with a 1-car detached garage for added storage or parking. Located in the heart of the community, it’s just minutes from local schools, shops, and businesses, making daily errands and activities a breeze. Perfect for first-time buyers that are ready to bring their dreams to turn this house back into a home it deserves. Enjoy the warmth of a rural setting while still being close to everything you need. Contact listing agent with any questions. All information pulled from various sources. Buyer agent to verify information before submitting any offers.

6. 2026-01-06
   price $49,900 656-char remark

   Show marketing remark (656 chars)

   Charming small-town living! This cozy 3-bedroom, 1-bath home offers comfort and convenience with a 1-car detached garage for added storage or parking. Located in the heart of the community, it’s just minutes from local schools, shops, and businesses, making daily errands and activities a breeze. Perfect for first-time buyers that are ready to bring their dreams to turn this house back into a home it deserves. Enjoy the warmth of a rural setting while still being close to everything you need. Contact listing agent with any questions. All information pulled from various sources. Buyer agent to verify information before submitting any offers.

7. 2025-12-12
   price $52,500 656-char remark

   Show marketing remark (656 chars)

   Charming small-town living! This cozy 3-bedroom, 1-bath home offers comfort and convenience with a 1-car detached garage for added storage or parking. Located in the heart of the community, it’s just minutes from local schools, shops, and businesses, making daily errands and activities a breeze. Perfect for first-time buyers that are ready to bring their dreams to turn this house back into a home it deserves. Enjoy the warmth of a rural setting while still being close to everything you need. Contact listing agent with any questions. All information pulled from various sources. Buyer agent to verify information before submitting any offers.

8. 2025-11-10
   price $55,000 656-char remark

   Show marketing remark (656 chars)

   Charming small-town living! This cozy 3-bedroom, 1-bath home offers comfort and convenience with a 1-car detached garage for added storage or parking. Located in the heart of the community, it’s just minutes from local schools, shops, and businesses, making daily errands and activities a breeze. Perfect for first-time buyers that are ready to bring their dreams to turn this house back into a home it deserves. Enjoy the warmth of a rural setting while still being close to everything you need. Contact listing agent with any questions. All information pulled from various sources. Buyer agent to verify information before submitting any offers.

9. 2025-10-10
   price $57,900 656-char remark

   Show marketing remark (656 chars)

   Charming small-town living! This cozy 3-bedroom, 1-bath home offers comfort and convenience with a 1-car detached garage for added storage or parking. Located in the heart of the community, it’s just minutes from local schools, shops, and businesses, making daily errands and activities a breeze. Perfect for first-time buyers that are ready to bring their dreams to turn this house back into a home it deserves. Enjoy the warmth of a rural setting while still being close to everything you need. Contact listing agent with any questions. All information pulled from various sources. Buyer agent to verify information before submitting any offers.

10. 2025-09-10
    listed $59,900 Active 656-char remark

    Show marketing remark (656 chars)

    Charming small-town living! This cozy 3-bedroom, 1-bath home offers comfort and convenience with a 1-car detached garage for added storage or parking. Located in the heart of the community, it’s just minutes from local schools, shops, and businesses, making daily errands and activities a breeze. Perfect for first-time buyers that are ready to bring their dreams to turn this house back into a home it deserves. Enjoy the warmth of a rural setting while still being close to everything you need. Contact listing agent with any questions. All information pulled from various sources. Buyer agent to verify information before submitting any offers.

11. 2025-09-10
    historical $59,900 656-char remark

    Show marketing remark (656 chars)

    Charming small-town living! This cozy 3-bedroom, 1-bath home offers comfort and convenience with a 1-car detached garage for added storage or parking. Located in the heart of the community, it’s just minutes from local schools, shops, and businesses, making daily errands and activities a breeze. Perfect for first-time buyers that are ready to bring their dreams to turn this house back into a home it deserves. Enjoy the warmth of a rural setting while still being close to everything you need. Contact listing agent with any questions. All information pulled from various sources. Buyer agent to verify information before submitting any offers.

12. 2019-04-15
    soldstatus $53,000
13. 2019-04-12
    soldstatus $53,000 372-char remark

    Show marketing remark (372 chars)

    Ready to move in 3 bedroom 1 bath home with garage! This cute home has had many updates in recent years including furnace/AC, all new wiring/electric (2-3yrs) Roof approx 5 yrs, complete bath remodel, new kitchen with stainless steel appliances (2-3yrs), new flooring and paint, etc. .. .a must see! Shaded back yard, open front porch, within walking distance to schools.

14. 2019-04-12
    soldstatus Closed

    Show marketing remark (372 chars)

    Ready to move in 3 bedroom 1 bath home with garage! This cute home has had many updates in recent years including furnace/AC, all new wiring/electric (2-3yrs) Roof approx 5 yrs, complete bath remodel, new kitchen with stainless steel appliances (2-3yrs), new flooring and paint, etc. .. .a must see! Shaded back yard, open front porch, within walking distance to schools.

15. 2019-04-04
    status Pending
16. 2019-02-12
    historical Active Under Contract
17. 2019-01-29
    status Pending
18. 2019-01-17
    historical Contingent (No Kickout)
19. 2018-09-27
    status Active
20. 2018-09-10
    historical Contingent (No Kickout)
21. 2018-08-28
    listed $54,000 Active
22. 2018-08-24
    listed $54,000 372-char remark

    Show marketing remark (372 chars)

    Ready to move in 3 bedroom 1 bath home with garage! This cute home has had many updates in recent years including furnace/AC, all new wiring/electric (2-3yrs) Roof approx 5 yrs, complete bath remodel, new kitchen with stainless steel appliances (2-3yrs), new flooring and paint, etc. .. .a must see! Shaded back yard, open front porch, within walking distance to schools.

ⓘ 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: $1,359 · $113/mo
• Projected year-2 tax: $1,359 · $113/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 7/10 Severe FEMA zone X · 77% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥107°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $11,415
• − Mortgage interest: −$1,955
• − Property taxes: −$1,359
• − Insurance: −$841
• − Repairs & maintenance: −$913
• − Management: −$913
• − Depreciation: −$1,015
• Taxable income: $4,419
• Est. tax owed @ 24.0%: −$1,061
• After-tax cash flow: $3,562/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: Hillsboro CUSD 3
• NCES district ID: 1719200
• Math proficiency: 20% ▼ -4.00%
• Reading proficiency: 36% ▼ -7.00%
• Median HH income: $43,744
• Composite: 23.89/100
• National rank: #7794
• State rank: #282 of 620 in IL

Livability — Hillsboro

• Score: 63/100
• State rank: #768
• US rank: #15417

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hillsboro, IL
• Population (ZIP): 8,078

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 27,471 people
• By 2030: 26,410 · -3.9%
• By 2040: 24,233 · -11.8%
• By 2050: 21,948 · -20.1%
• By 2075: 16,686 · -39.3%
• By 2100: 11,369 · -58.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Black 8% Hispanic / Latino 4% Two or more races 4%
• Common ancestry: Slovak 4% Iranian 2% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Montgomery

• 2024 margin: Solid R (+44.0) · D 27.1% · R 71.1% · Other 1.8%
• 2008→2024 swing: -46.7pp toward R · 2008: 2.6pp · 2024: -44.0pp
• All cycles: 2024: R+44.0 2020: R+41.0 2016: R+40.0 2012: R+14.2 2008: D+2.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -51.47%
• Current HPI: 195.1023
• 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

-35.4% since first listed

22 events — show timeline

• 2026-05-13 Pending — MARIS as Distributed by MLS Grid
• 2026-04-10 Price Changed $34,900 MARIS as Distributed by MLS Grid
• 2026-03-18 Price Changed $39,900 MARIS as Distributed by MLS Grid
• 2026-02-17 Price Changed $42,000 MARIS as Distributed by MLS Grid
• 2026-02-06 Price Changed $47,000 MARIS as Distributed by MLS Grid
• 2026-01-06 Price Changed $49,900 MARIS as Distributed by MLS Grid
• 2025-12-12 Price Changed $52,500 MARIS as Distributed by MLS Grid
• 2025-11-10 Price Changed $55,000 MARIS as Distributed by MLS Grid
• 2025-10-10 Price Changed $57,900 MARIS as Distributed by MLS Grid
• 2025-09-10 Listed $59,900 MARIS as Distributed by MLS Grid
• 2025-09-10 Coming Soon $59,900 MARIS as Distributed by MLS Grid
• 2019-04-15 Sold (Public Records) $53,000 Public Records
• 2019-04-12 Sold (MLS) $53,000 MRED as Distributed by MLS Grid
• 2019-04-12 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2019-04-04 Pending — MARIS as Distributed by MLS Grid
• 2019-02-12 Contingent — MARIS as Distributed by MLS Grid
• 2019-01-29 Pending — MARIS as Distributed by MLS Grid
• 2019-01-17 Contingent — MARIS as Distributed by MLS Grid
• 2018-09-27 Relisted — MARIS as Distributed by MLS Grid
• 2018-09-10 Contingent — MARIS as Distributed by MLS Grid
• 2018-08-28 Listed $54,000 MARIS as Distributed by MLS Grid
• 2018-08-24 Listed $54,000 MRED as Distributed by MLS Grid

Property tax history

-0.3%/yr

Latest (2024): $1,359 · +7.3% YoY. Source: county tax records.