145 Hickory Grv · Salem, IL 62881

$138,900

3 bd · 2.0 ba · 1,408 sqft · SingleFamily public records · 31 Days on market

Built 1955 Est $175k · 20% under

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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).

• ARV discount +15.0/15.0
• Cash flow +14.1/30.0
• DSCR +4.3/10.0
• 1% rule +3.9/10.0
• Livability +3.4/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

LOCATION is the name of the game. Over one half acre, at end of dead end street, close to town. The master bedroom, bath, and family room could easily be separate living. The large living room, eat-in kitchen, two bedrooms, bath, and over-size laundry room with tons of storage make up the main living area. Two car carport and sheds provide outside storage. Freshly painted inside and out, all appliances, replacement windows, and a cedar closet! Seller has added new HVAC and sump pump, updated electrical, roof, soffit, floor, and siding repairs. Square footage per Court House records.

Key facts

• Outside storage
• Over one half acre
• Freshly painted

Tags

• OVER ONE HALF ACRE
• END OF DEAD END STREET
• SEPARATE LIVING
• TONS OF STORAGE
• OUTSIDE STORAGE
• FRESHLY PAINTED

Property features AI

Finance

• HOA & community: No master association fee required

Exterior

• Parking: Off-street parking via driveway; Space for 4 vehicles
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; One-story
• Construction: Wood siding frame construction; Block foundation; Built approximately 71–80 years ago; Property built before 1978
• Exterior features: Level, wooded lot; Lot dimensions approximately 186 x 150

Interior

• Kitchen: Kitchen with eating area; Dishwasher; Range; Refrigerator; Range hood
• Bedrooms: Three bedrooms (all on main level); Master bedroom on main level with full bath access; Second bedroom on main level; Third bedroom on main level
• Flooring: Vinyl flooring in living areas, family room, kitchen, bedrooms and laundry
• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Six total rooms; Utility room on main level; Eating area in kitchen
• Laundry & utility: Main-level laundry room; Utility room on main level

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $139k.

Deal economics

• At list price, monthly cash flow is $21 ($258/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $123k (11.4% below list).
• Recommended offer: $123k (11.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 68/100 on livability (#467 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment D-.
• Salem Chsd 600 (town): math 25% / reading 30% proficiency, ranked #571 of 919 in IL (top 62%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Salem Community High School (math 22% / reading 17%, grade F, #397 of 693 statewide, top 61%, 732 students, 0% FRL).
• Market conditions: 49 active listings in the ZIP; 2 units permitted in Marion County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $960 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Marion County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($135k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 18y 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 $40k; list at $139k implies a 247% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $123,128 (11.4% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — 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. 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?
5. 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?
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: 0.89% ✗
• Cap rate: 6.48%
• Cash-on-cash: 0.66%
• DSCR: 1.03
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $174,592
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
105 Hickory Grove Rd	0.19mi	3/2.0	1,597 (+13%)	3mo	$160,000	$100	67
1717 N Broadway Ave	0.49mi	3/2.0	1,452 (+3%)	15mo	$179,900	$124	59
2 Lakedale Dr	0.55mi	3/2.0	1,456 (+3%)	14mo	$140,000	$96	56
370 Northwood Ln	0.65mi	3/2.0	1,288 (-8%)	12mo	$169,000	$131	45
349 Woodland Dr	0.69mi	3/1.5	1,241 (-12%)	20mo	$169,000	$136	30

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: -15.2%
• Equity multiple: 0.46×
• Total profit: $-21,126
• Equity at exit: $20,710

10-year hold

• IRR: -6.7%
• Equity multiple: 0.57×
• Total profit: $-16,579
• Equity at exit: $12,010

Cash invested: $38,892 (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 62881

• Home prices YoY: -28.0%
• Active inventory: 49
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,231 medium
• Mortgage (P&I): −$728
• Tax from tax record: −$165 /mo · $1,979/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$259
• Net cashflow: $21

Break-even live

Break-even rent $1,204

Max offer price $138,900

Occupancy floor 93%

Sensitivity live

Price	-10% $100	-5% $61	+0% $21	+5% $-18	+10% $-57
Rent	-10% $-76	-5% $-27	+0% $21	+5% $70	+10% $119
Rate	-1.0pp $91	-0.5pp $57	base $21	+0.5pp $-14	+1.0pp $-51

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: $34,725
• Closing costs: $4,167
• Reserves months: —
• Total cash needed: —

Listing history 41 events

1. 2026-06-21
   days on market $138,900 Active 31 DOM
2. 2026-06-21
   days on market $138,900 Active 30 DOM
3. 2026-06-18
   days on market $138,900 Active 28 DOM
4. 2026-06-17
   days on market $138,900 Active 27 DOM
5. 2026-06-16
   days on market $138,900 Active 26 DOM
6. 2026-06-15
   days on market $138,900 Active 25 DOM
7. 2026-06-13
   remarks 590-char remark
8. 2026-06-13
   days on marketlisting id $138,900 Active 23 DOM
9. 2026-06-12
   days on market $138,900 Active 75 DOM
10. 2026-06-09
    days on market $138,900 Active 72 DOM
11. 2026-06-08
    days on market $138,900 Active 71 DOM
12. 2026-06-07
    days on market $138,900 Active 70 DOM
13. 2026-06-07
    days on market $138,900 Active 69 DOM
14. 2026-06-04
    days on market $138,900 Active 66 DOM
15. 2026-06-02
    days on market $138,900 Active 65 DOM
16. 2026-06-01
    days on market $138,900 Active 64 DOM
17. 2026-05-31
    days on market $138,900 Active 63 DOM
18. 2026-05-31
    days on market $138,900 Active 62 DOM
19. 2026-05-23
    historical
20. 2026-05-23
    status Active
21. 2026-05-21
    listed $138,900 Active 591-char remark

    Show marketing remark (591 chars)

    LOCATION is the name of the game. Over one half acre, at end of dead end street, close to town. The master bedroom, bath, and family room could easily be separate living. The large living room, eat-in kitchen, two bedrooms, bath, and over-size laundry room with tons of storage make up the main living area. Two car carport and sheds provide outside storage. Freshly painted inside and out, all appliances, replacement windows, and a cedar closet! Seller has added new HVAC and sump pump, updated electrical, roof, soffit, floor, and siding repairs. Square footage per Court House records.

22. 2026-05-05
    status Active
23. 2026-04-09
    status Pending
24. 2026-03-30
    status Active
25. 2026-03-16
    status Pending
26. 2026-02-17
    listed $138,900 Active
27. 2026-01-23
    historical
28. 2026-01-08
    status Active
29. 2026-01-06
    historical
30. 2026-01-05
    historical
31. 2025-11-06
    listed $138,500 Active
32. 2025-09-16
    price
33. 2025-07-28
    listed Active
34. 2018-05-25
    soldstatus $40,000
35. 2018-05-25
    soldstatus $40,000
36. 2018-03-01
    listed $47,500
37. 2018-03-01
    listed $47,500
38. 2008-08-25
    soldstatus $66,500
39. 2008-08-25
    soldstatus $66,500
40. 2008-06-24
    listed $69,950
41. 2008-06-24
    listed $69,950

ⓘ 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: $1,979 · $165/mo
• Projected year-2 tax: $2,566 · $214/mo
• Expected delta: +$587/yr (+$49/mo · 29.7%)

ⓘ 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 4/10 Moderate 7 d/yr ≥106°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: $14,775
• − Mortgage interest: −$7,781
• − Property taxes: −$1,979
• − Insurance: −$694
• − Repairs & maintenance: −$1,182
• − Management: −$1,182
• − Depreciation: −$4,041
• Taxable loss: −$2,084
• Est. tax savings @ 24.0%: +$500
• After-tax cash flow: $758/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: Salem Chsd 600
• NCES district ID: 1735190
• Math proficiency: 25% ▲ 10.00%
• Reading proficiency: 30% ▲ 5.00%
• Median HH income: $39,305
• Composite: 26.04/100
• National rank: #12738
• State rank: #571 of 919 in IL

Livability — Salem

• Score: 68/100
• State rank: #467
• US rank: #9634

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Salem, IL
• City population: 11,218
• Population (ZIP): 11,218

Population outlook (Marion County) Hauer SSP2

• Today (2025): 36,071 people
• By 2030: 34,598 · -4.1%
• By 2040: 31,754 · -12.0%
• By 2050: 28,912 · -19.8%
• By 2075: 22,527 · -37.5%
• By 2100: 16,455 · -54.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Black 3% Two or more races 2%
• Common ancestry: Romanian 2% Italian 2% Iranian 2%
• Foreign-born: 1%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Marion

• 2024 margin: Solid R (+49.5) · D 24.6% · R 74.1% · Other 1.4%
• 2008→2024 swing: -47.5pp toward R · 2008: -2.0pp · 2024: -49.5pp
• All cycles: 2024: R+49.5 2020: R+46.6 2016: R+44.9 2012: R+19.2 2008: R+2.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -63.16%
• Current HPI: 162.55
• 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

+98.6% since first listed

23 events — show timeline

• 2026-05-23 Listing Removed — MRED as Distributed by MLS Grid
• 2026-05-23 Relisted — MRED as Distributed by MLS Grid
• 2026-05-21 Listed $138,900 MARIS as Distributed by MLS Grid
• 2026-05-05 Relisted — MRED as Distributed by MLS Grid
• 2026-04-09 Pending — MRED as Distributed by MLS Grid
• 2026-03-30 Relisted — MRED as Distributed by MLS Grid
• 2026-03-16 Pending — MRED as Distributed by MLS Grid
• 2026-02-17 Listed $138,900 MRED as Distributed by MLS Grid
• 2026-01-23 Listing Removed — MRED as Distributed by MLS Grid
• 2026-01-08 Relisted — MRED as Distributed by MLS Grid
• 2026-01-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2026-01-05 Listing Removed — MRED as Distributed by MLS Grid
• 2025-11-06 Listed $138,500 MARIS as Distributed by MLS Grid
• 2025-09-16 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-07-28 Listed — RMLSA as Distributed by MLS Grid
• 2018-05-25 Sold (MLS) $40,000 MRED as Distributed by MLS Grid
• 2018-05-25 Sold (MLS) $40,000 RMLSA as Distributed by MLS Grid
• 2018-03-01 Listed $47,500 MRED as Distributed by MLS Grid
• 2018-03-01 Listed $47,500 RMLSA as Distributed by MLS Grid
• 2008-08-25 Sold (MLS) $66,500 MRED as Distributed by MLS Grid
• 2008-08-25 Sold (MLS) $66,500 RMLSA as Distributed by MLS Grid
• 2008-06-24 Listed $69,950 MRED as Distributed by MLS Grid
• 2008-06-24 Listed $69,950 RMLSA as Distributed by MLS Grid

Property tax history

-1.0%/yr

Latest (2024): $1,979 · +0.4% YoY. Source: county tax records.