1003 N Lee St · Bloomington, IL 61701

$154,000

3 bd · 2.0 ba · 2,178 sqft · SingleFamily · 39 Days on market

Built 1910 5,662 sqft lot Est $220k · 30% 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 +25.0/30.0
• ARV discount +15.0/15.0
• DSCR +8.2/10.0
• 1% rule +6.9/10.0
• 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

Well cared for 2 story home with 2nd floor apartment. Current homeowners occupied the main floor. The 2nd floor offers a nice size kitchen, family room, bedroom, bath and even has it's own laundry. The main level boasts large rooms with tall ceilings, beautiful hardwood flooring, 2 large bedrooms, a spacious dining room, large family room, first floor laundry and kitchen. An inviting "L" shaped enclosed front porch rounds out the amenities found in this older home. All appliances work but are being sold "as is". Home is located close to Wesleyan. Shed remains.

Key facts

• Near schools
• Near shopping
• Second kitchen

Tags

• SECOND KITCHEN
• GENEROUSLY SIZED YARD
• NEAR PARKS
• NEAR SCHOOLS
• NEAR SHOPPING

Property features AI

Finance

• Other: Property located in Bloomington city limits; Lot dimensions approximately 55 x 99 (less than 0.25 acre); Built prior to 1978
• HOA & community: No master association fee required; Neighborhood sidewalks, street lights and paved streets

Exterior

• Parking: Space for 3 vehicles; Concrete driveway and off-street parking (owned)
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; 1.5-story design; Fee simple ownership; Home is over 100 years old; Estimated living area
• Construction: Steel siding; Brick/mortar foundation; Asphalt roof
• Exterior features: Deck; Patio; Porch; Screened porch; Fenced yard; Landscaped lot with mature trees; School bus service available

Interior

• Kitchen: Island kitchen; Range; Microwave; Dishwasher; Refrigerator
• Bedrooms: Main-level master bedroom (15 x 11); Main-level bedroom (13 x 15); Second-level bedroom (10 x 15)
• Flooring: Hardwood in living, dining, kitchen and master; Carpet in some bedrooms
• Bathrooms: 2 full bathrooms; Double sink in bath
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: First-floor bedroom and first-floor full bath; Ceiling fans; 6 total rooms; Hardwood flooring throughout main living areas; Window treatments on all main rooms
• Laundry & utility: Laundry in unit with multiple locations; Laundry on main and upper levels; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $154k.

Deal economics

• At list price, monthly cash flow is $337 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $154k).
• Recommended offer: $149k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.9% 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: 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.
• Zoned schools: Bent Elem School (math 8% / reading 8%, grade F, #1,627 of 2,056 statewide, top 81%, 374 students, 0% FRL); Bloomington Jr High School (math 12% / reading 19%, grade F, #493 of 665 statewide, top 75%, 1,006 students, 0% FRL); Bloomington High School (math 27% / reading 33%, grade F, #179 of 693 statewide, top 27%, 1,503 students, 0% FRL) — zoned schools average 0% FRL vs 51% district-wide (51 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+5.6%/yr); 88 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 247 units permitted in McLean County in 2024 (54 in 5+ unit buildings).
• This rent runs 39% 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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 5.6% rent growth), your $43k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($149k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 5y 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 $128k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $149,380 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.19% ✓
• Cap rate: 8.92%
• Cash-on-cash: 9.37%
• DSCR: 1.42
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $219,978
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1002 N Roosevelt Ave	0.02mi	4/2.0 (+1)	2,222 (+2%)	4mo	$160,000	$72	87
910 N Madison St	0.11mi	3/2.0	2,125 (-2%)	5mo	$70,000	$33	86
507 N Lee St	0.38mi	3/2.5	2,318 (+6%)	6mo	$205,000	$88	65
1309 N Lee St	0.23mi	3/1.5	1,875 (-14%)	1mo	$195,000	$104	63
1411 Fell Ave	0.65mi	3/1.0	2,160 (-1%)	7mo	$250,000	$116	58
705 W Market St	0.44mi	4/2.0 (+1)	1,908 (-12%)	2mo	$158,000	$83	52
1406 Fell Ave	0.63mi	3/2.0	2,021 (-7%)	8mo	$248,000	$123	52
503 E Chestnut St	0.60mi	2/2.5 (-1)	2,349 (+8%)	1mo	$239,900	$102	51
305 E Chestnut St	0.43mi	2/1.0 (-1)	1,907 (-12%)	3mo	$192,500	$101	48
1006 N Morris Ave	0.51mi	2/1.0 (-1)	1,928 (-12%)	4mo	$172,000	$89	45
1304 W Chestnut St	0.63mi	3/1.0	1,960 (-10%)	9mo	$75,000	$38	43
1416 N Clinton Blvd	0.71mi	3/1.5	1,875 (-14%)	4mo	$194,000	$103	39

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: 0.9%
• Equity multiple: 1.03×
• Total profit: $1,481
• Equity at exit: $22,962

10-year hold

• IRR: 13.1%
• Equity multiple: 2.17×
• Total profit: $50,459
• Equity at exit: $13,315

Cash invested: $43,120 (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: 88
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,835 medium
• Mortgage (P&I): −$808
• Tax from tax record: −$241 /mo · $2,888/yr
• Insurance: −$64
• HOA: −$0
• Vacancy / Maint / Mgmt: −$385
• Net cashflow: $337

Break-even live

Break-even rent $1,408

Max offer price $154,000

Occupancy floor 77%

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: $38,500
• Closing costs: $4,620
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1102 N Madison St Bloomington, IL	3.0	2.0	1603	$1,950	$1.22	21d	1	0.11mi
501 E Emerson St Bloomington, IL	3.0	1.5	2825	$2,500	$0.88	44d	1	0.70mi
809 Kern St Normal, IL	4.0	1.5	1404	$1,895	$1.35	21d	1	0.87mi
1110 E Jefferson St Unit 16 Bloomington, IL	3.0	1.5	1476	$1,675	$1.13	44d	1	1.27mi

Listing history 27 events

1. 2026-06-19
   days on market $154,000 Active 39 DOM
2. 2026-06-18
   days on market $154,000 Active 38 DOM
3. 2026-06-17
   days on market $154,000 Active 37 DOM
4. 2026-06-16
   days on market $154,000 Active 36 DOM
5. 2026-06-15
   days on market $154,000 Active 35 DOM
6. 2026-06-14
   days on market $154,000 Active 33 DOM
7. 2026-06-13
   pricedays on market $154,000 Active 32 DOM
8. 2026-06-10
   days on market $159,000 Active 30 DOM
9. 2026-06-09
   days on market $159,000 Active 29 DOM
10. 2026-06-08
    days on market $159,000 Active 28 DOM
11. 2026-06-07
    days on market $159,000 Active 27 DOM
12. 2026-06-03
    days on market $159,000 Active 23 DOM
13. 2026-06-02
    days on market $159,000 Active 22 DOM
14. 2026-06-01
    days on market $159,000 Active 21 DOM
15. 2026-05-31
    days on market $159,000 Active 20 DOM
16. 2026-05-30
    days on market $159,000 Active 19 DOM
17. 2026-05-21
    status Active
18. 2026-04-24
    status Pending
19. 2026-04-14
    listed $159,000 Active
20. 2021-12-15
    soldstatus $128,000 Closed 595-char remark

    Show marketing remark (595 chars)

    Well cared for 2 story home with 2nd floor apartment. Current homeowners occupied the main floor. The 2nd floor offers a nice size kitchen, family room, bedroom, bath and even has it's own laundry. The main level boasts large rooms with tall ceilings, beautiful hardwood flooring, 2 large bedrooms, a spacious dining room, large family room, first floor laundry and kitchen. An inviting "L" shaped enclosed front porch rounds out the amenities found in this older home. All appliances work but are being sold "as is". Home is located close to Wesleyan. Shed remains.

21. 2021-11-06
    status Active Under Contract (Do Not Show) 595-char remark

    Show marketing remark (595 chars)

    Well cared for 2 story home with 2nd floor apartment. Current homeowners occupied the main floor. The 2nd floor offers a nice size kitchen, family room, bedroom, bath and even has it's own laundry. The main level boasts large rooms with tall ceilings, beautiful hardwood flooring, 2 large bedrooms, a spacious dining room, large family room, first floor laundry and kitchen. An inviting "L" shaped enclosed front porch rounds out the amenities found in this older home. All appliances work but are being sold "as is". Home is located close to Wesleyan. Shed remains.

22. 2021-11-01
    listed $128,000 Active 595-char remark

    Show marketing remark (595 chars)

    Well cared for 2 story home with 2nd floor apartment. Current homeowners occupied the main floor. The 2nd floor offers a nice size kitchen, family room, bedroom, bath and even has it's own laundry. The main level boasts large rooms with tall ceilings, beautiful hardwood flooring, 2 large bedrooms, a spacious dining room, large family room, first floor laundry and kitchen. An inviting "L" shaped enclosed front porch rounds out the amenities found in this older home. All appliances work but are being sold "as is". Home is located close to Wesleyan. Shed remains.

23. 2021-09-21
    historical
24. 2021-09-02
    status Active
25. 2021-07-25
    status Active Under Contract (Do Not Show)
26. 2021-07-22
    listed Active
27. 2015-05-26
    soldstatus $108,000

ⓘ 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: $2,888 · $241/mo
• Projected year-2 tax: $3,192 · $266/mo
• Expected delta: +$304/yr (+$25/mo · 10.5%)

ⓘ 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 ≥105°F today · 18 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: $22,014
• − Mortgage interest: −$8,626
• − Property taxes: −$2,888
• − Insurance: −$770
• − Repairs & maintenance: −$1,761
• − Management: −$1,761
• − Depreciation: −$4,480
• Taxable income: $1,728
• Est. tax owed @ 24.0%: −$415
• After-tax cash flow: $3,628/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

+47.2% since first listed

11 events — show timeline

• 2026-05-21 Relisted — MRED as Distributed by MLS Grid
• 2026-04-24 Pending — MRED as Distributed by MLS Grid
• 2026-04-14 Listed $159,000 MRED as Distributed by MLS Grid
• 2021-12-15 Sold (MLS) $128,000 MRED as Distributed by MLS Grid
• 2021-11-06 Pending — MRED as Distributed by MLS Grid
• 2021-11-01 Listed $128,000 MRED as Distributed by MLS Grid
• 2021-09-21 Listing Removed — MRED as Distributed by MLS Grid
• 2021-09-02 Relisted — MRED as Distributed by MLS Grid
• 2021-07-25 Pending — MRED as Distributed by MLS Grid
• 2021-07-22 Listed — MRED as Distributed by MLS Grid
• 2015-05-26 Sold (Public Records) $108,000 Public Records

Property tax history

+5.4%/yr

Latest (2023): $2,888 · +12.3% YoY. Source: county tax records.