510 Greencastle Dr · Wyanet, IL 61379

$125,900

4 bd · 1.0 ba · 1,894 sqft · SingleFamily · 150 Days on market

Built 1977 6,098 sqft lot $66/sqft · at area comps Est $121k · at est.

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Why this score? — see what drove the C+ 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 +25.5/30.0
• DSCR +8.5/10.0
• Appreciation +8.0/10.0
• ARV discount +5.7/15.0
• 1% rule +5.4/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0

Listing remarks MLS

This 4-bedroom bi-level in a great Wyanet subdivision has already had the hard work tackled, so you can skip the big projects and jump straight to the fun stuff. The modern, open floor plan gives the home a fresh, updated vibe, while the elevated deck is ready for summer grilling, morning coffee, or dramatic sunset appreciation. Yes, a little trim work and finishing touches are still needed-but that just means you get to choose the final look and brag that you "customized" it. Add in a one-car attached garage and a quiet edge-of-town location, and you've got a house with personality, potential, and plenty of reasons to fall in love.

Key facts

• Open floor plan
• Elevated deck
• 6,098 sq ft lot

Tags

• OPEN FLOOR PLAN
• ELEVATED DECK
• ONE-CAR ATTACHED GARAGE
• QUIET EDGE-OF-TOWN LOCATION

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $126k.

Deal economics

• At list price, monthly cash flow is $294 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $126k).
• Recommended offer: $111k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#644 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, schools D, amenities F.
• Bureau Valley CUSD 340 (rural): math 20% / reading 31% proficiency, ranked #310 of 620 in IL (top 50%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 7 active listings in the ZIP; 17 units permitted in Bureau County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($870 loan paydown + $8k appreciation (6.0% local appreciation)).
• Bureau County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 150 days — a 12% lower offer ($111k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y 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 $27k; list at $126k implies a 366% gain — meaningful room to come down on a strong offer.

Recommended offer $110,792 (12.0% below list)

Questions for the listing agent

1. It's been on market 150 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 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.04% ✓
• Cap rate: 9.10%
• Cash-on-cash: 10.02%
• DSCR: 1.45
• GRM: 8.0

CMA / ARV

• ARV (median comp): $121,081
• List price: $125,900
• Delta: 3.98%
• Verdict: FAIR
• Comps: 17 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
501 S King St	0.27mi	3/1.0 (-1)	2,016 (+6%)	17mo	$140,000	$69	57
117 W North St	0.55mi	4/2.0	2,016 (+6%)	11mo	$225,000	$112	51

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

5.96% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.5%
• Equity multiple: 2.55×
• Total profit: $54,760
• Equity at exit: $78,845

10-year hold

• IRR: 22.3%
• Equity multiple: 5.15×
• Total profit: $146,343
• Equity at exit: $142,722

Cash invested: $35,252 (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 61379

• Home prices YoY: 3.4%
• Active inventory: 7
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,310 medium
• Mortgage (P&I): −$660
• Tax from tax record: −$28 /mo · $335/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$275
• Net cashflow: $294

Break-even live

Break-even rent $937

Max offer price $125,900

Occupancy floor 73%

Sensitivity live

Price	-10% $366	-5% $330	+0% $294	+5% $259	+10% $223
Rent	-10% $191	-5% $243	+0% $294	+5% $346	+10% $398
Rate	-1.0pp $358	-0.5pp $326	base $294	+0.5pp $262	+1.0pp $229

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: $31,475
• Closing costs: $3,777
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-19
   days on market $125,900 Active 150 DOM
2. 2026-06-18
   days on market $125,900 Active 149 DOM
3. 2026-06-17
   days on market $125,900 Active 148 DOM
4. 2026-06-16
   days on market $125,900 Active 147 DOM
5. 2026-06-15
   days on market $125,900 Active 146 DOM
6. 2026-06-14
   statusdays on market $125,900 Active 144 DOM
7. 2026-06-13
   days on market $125,900 Contingent - Continue to Show 143 DOM
8. 2026-06-10
   days on market $125,900 Contingent - Continue to Show 141 DOM
9. 2026-06-09
   days on market $125,900 Contingent - Continue to Show 140 DOM
10. 2026-06-08
    days on market $125,900 Contingent - Continue to Show 139 DOM
11. 2026-06-07
    days on market $125,900 Contingent - Continue to Show 138 DOM
12. 2026-06-05
    days on market $125,900 Contingent - Continue to Show 135 DOM
13. 2026-06-03
    days on market $125,900 Contingent - Continue to Show 134 DOM
14. 2026-06-02
    days on market $125,900 Contingent - Continue to Show 133 DOM
15. 2026-06-01
    days on market $125,900 Contingent - Continue to Show 132 DOM
16. 2026-05-31
    days on market $125,900 Contingent - Continue to Show 131 DOM
17. 2026-05-30
    days on market $125,900 Contingent - Continue to Show 130 DOM
18. 2026-05-05
    historical Contingent - Continue to Show 650-char remark

    Show marketing remark (650 chars)

    This 4-bedroom bi-level in a great Wyanet subdivision has already had the hard work tackled, so you can skip the big projects and jump straight to the fun stuff. The modern, open floor plan gives the home a fresh, updated vibe, while the elevated deck is ready for summer grilling, morning coffee, or dramatic sunset appreciation. Yes, a little trim work and finishing touches are still needed-but that just means you get to choose the final look and brag that you "customized" it. Add in a one-car attached garage and a quiet edge-of-town location, and you've got a house with personality, potential, and plenty of reasons to fall in love.

19. 2026-01-20
    listed $125,900 Active 650-char remark

    Show marketing remark (650 chars)

    This 4-bedroom bi-level in a great Wyanet subdivision has already had the hard work tackled, so you can skip the big projects and jump straight to the fun stuff. The modern, open floor plan gives the home a fresh, updated vibe, while the elevated deck is ready for summer grilling, morning coffee, or dramatic sunset appreciation. Yes, a little trim work and finishing touches are still needed-but that just means you get to choose the final look and brag that you "customized" it. Add in a one-car attached garage and a quiet edge-of-town location, and you've got a house with personality, potential, and plenty of reasons to fall in love.

20. 2019-09-05
    soldstatus $27,000 227-char remark

    Show marketing remark (227 chars)

    Three bedroom, 1 full bath up, Laundry room has toilet, and hook up for sink. l shape living room, dining room, and kitchen. lower level two bedrooms, all unfinished, could be room for family room. Agent is related to owner.

21. 2019-05-15
    listed $38,500 227-char remark

    Show marketing remark (227 chars)

    Three bedroom, 1 full bath up, Laundry room has toilet, and hook up for sink. l shape living room, dining room, and kitchen. lower level two bedrooms, all unfinished, could be room for family room. Agent is related to owner.

22. 2017-02-13
    historical

ⓘ 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: $335 · $28/mo
• Projected year-2 tax: $1,596 · $133/mo
• Expected delta: +$1,262/yr (+$105/mo · 377.1%)

ⓘ 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 ≥103°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $15,722
• − Mortgage interest: −$7,052
• − Property taxes: −$335
• − Insurance: −$630
• − Repairs & maintenance: −$1,258
• − Management: −$1,258
• − Depreciation: −$3,663
• Taxable income: $1,527
• Est. tax owed @ 24.0%: −$367
• After-tax cash flow: $3,167/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: Bureau Valley CUSD 340
• NCES district ID: 1700125
• Math proficiency: 20% ▼ -3.00%
• Reading proficiency: 31% ▼ -3.00%
• Median HH income: $48,992
• Composite: 22.34/100
• National rank: #8129
• State rank: #310 of 620 in IL

Livability — Wyanet

• Score: 65/100
• State rank: #644
• US rank: #13150

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wyanet, IL
• Population (ZIP): 1,273

Population outlook (Bureau County) Hauer SSP2

• Today (2025): 30,938 people
• By 2030: 29,461 · -4.8%
• By 2040: 26,296 · -15.0%
• By 2050: 23,271 · -24.8%
• By 2075: 17,749 · -42.6%
• By 2100: 13,107 · -57.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Hispanic / Latino 2% Two or more races 2%
• Common ancestry: Portuguese 5% Slovak 3% Iranian 2%

Political lean MEDSL · Bureau

• 2024 margin: Strong R (+24.3) · D 36.9% · R 61.2% · Other 1.9%
• 2008→2024 swing: -30.0pp toward R · 2008: 5.7pp · 2024: -24.3pp
• All cycles: 2024: R+24.3 2020: R+21.5 2016: R+20.0 2012: R+0.2 2008: D+5.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.96%
• Current HPI: 184.1637
• 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

+227.0% since first listed

5 events — show timeline

• 2026-05-05 Contingent — MRED as Distributed by MLS Grid
• 2026-01-20 Listed $125,900 MRED as Distributed by MLS Grid
• 2019-09-05 Sold (MLS) $27,000 MRED as Distributed by MLS Grid
• 2019-05-15 Listed $38,500 MRED as Distributed by MLS Grid
• 2017-02-13 Listing Removed — MRED as Distributed by MLS Grid

Property tax history

-12.8%/yr

Latest (2024): $335 · -27.3% YoY. Source: county tax records.