506 Hillcrest Dr · Washington, IL 61571

$259,900

3 bd · 1.0 ba · 1,184 sqft · SingleFamily public records · 1 Days on market

Built 1960 0.27 ac lot Est $180k · 44% over

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Why this score? — see what drove the F 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 +14.2/30.0
• DSCR +4.3/10.0
• Schools +3.8/10.0
• Livability +3.7/5.0
• 1% rule +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Coming Soon! Showings begin Tuesday April 28th at 8am. An absolute joy to list! This Washington ranch home features: 3 bedrooms, 2 full baths, a mostly finished walk out basement, an oversized 2 stall garage, a complete main floor gut and remodel, convenient location, & so much more! No expense spared during this 2025 main floor remodel. Updates include: basement flooring & landscaping 2026. Siding 2025. Entire main floor minus bathroom new in 2025 including: plaster, trim, flooring, paint, kitchen, both main floor bedrooms, lights, appliances, & more. You'll love the remote control blinds in the kitchen and the beautiful plantation shutters in the living room! Roof

Key facts

• 0.27 acre lot
• 2 garage spots
• Built 1960

Property features AI

Exterior

• Parking: Attached oversized 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single family residence; Residential zoning; Shingle roof; Built in 1960
• Construction: Shingle roof; Built in 1960
• Exterior features: Replacement windows; Corner, level lot

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Second kitchen area in the basement
• Bedrooms: 3 bedrooms total; Main level bedroom approx. 19 x 11 with luxury vinyl plank flooring and egress window; Main level bedroom approx. 13 x 10 with luxury vinyl plank flooring; Basement bedroom approx. 16 x 12 with carpet
• Flooring: Luxury vinyl plank in primary living areas and kitchen; Vinyl in basement family room; Carpet in one basement bedroom; Other flooring in additional basement room
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning; Water softener (owned)
• Interior features: Attic storage; Cable available; Solid surface counters; Ceiling fans; Two fireplaces (living room; wood burning with gas log); Has basement: daylight, full, partially finished with walk-out access
• Laundry & utility: Main level laundry room (6 x 6)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $260k.

Deal economics

• At list price, monthly cash flow is $44 ($524/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 $223k (14.1% below list).
• Recommended offer: $223k (14.1% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 3.3% in Washington — 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 73/100 on livability (#272 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety F.
• Washington Chsd 308 (suburban): math 42% / reading 42% proficiency, ranked #112 of 620 in IL (top 18%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Washington Comm High School (math 42% / reading 42%, grade F, #76 of 693 statewide, top 12%, 1,484 students, 0% FRL).
• Market conditions: 132 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 77 units permitted in Tazewell County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Tazewell County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $52k; list at $260k implies a 395% gain — meaningful room to come down on a strong offer.

Recommended offer $223,375 (14.1% below list)

Questions for the listing agent

1. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 0.86% ✗
• Cap rate: 6.49%
• Cash-on-cash: 0.72%
• DSCR: 1.03
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $179,968
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
408 Camelot Dr	0.29mi	4/1.5 (+1)	1,121 (-5%)	1mo	$169,900	$152	70
1918 Stoneridge	0.60mi	3/3.0	1,176 (-1%)	4mo	$269,900	$230	60
1307 Bobolink Dr	0.72mi	3/1.0	1,228 (+4%)	3mo	$175,000	$143	58
1111 Kern Rd	0.65mi	3/1.5	1,344 (+14%)	8mo	$188,000	$140	39
1304 Bobolink Dr	0.71mi	3/1.0	1,057 (-11%)	19mo	$162,900	$154	33

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: $-39,348
• Equity at exit: $38,752

10-year hold

• IRR: -6.6%
• Equity multiple: 0.58×
• Total profit: $-30,735
• Equity at exit: $22,471

Cash invested: $72,772 (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 61571

• Active inventory: 132
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $2,234 medium
• Mortgage (P&I): −$1,363
• Tax from tax record: −$250 /mo · $2,997/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$469
• Net cashflow: $44

Break-even live

Break-even rent $2,179

Max offer price $259,900

Occupancy floor 93%

Sensitivity live

Price	-10% $191	-5% $117	+0% $44	+5% $-30	+10% $-103
Rent	-10% $-133	-5% $-45	+0% $44	+5% $132	+10% $220
Rate	-1.0pp $175	-0.5pp $110	base $44	+0.5pp $-24	+1.0pp $-92

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: $64,975
• Closing costs: $7,797
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1910 Canterbury Dr Washington, IL	2.0	1.0	850	$950	$1.12	14d	1	0.66mi
700 Debates St Washington, IL	3.0	2.0	1319	$2,750	$2.08	14d	1	0.92mi
713 Stephanie Ct Washington, IL	3.0	2.0	1319	$2,750	$2.08	21d	1	1.00mi
704 Debates St Washington, IL	3.0	2.0	1319	$2,750	$2.08	14d	1	1.10mi

Listing history 4 events

1. 2026-04-29
   status Pending
2. 2026-04-28
   listed $259,900 Active
3. 2026-04-27
   historical $259,900
4. 2010-07-29
   soldstatus $52,500

ⓘ 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: $2,997 · $250/mo
• Projected year-2 tax: $4,449 · $371/mo
• Expected delta: +$1,451/yr (+$121/mo · 48.4%)

ⓘ 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 ≥104°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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,805
• − Mortgage interest: −$14,558
• − Property taxes: −$2,997
• − Insurance: −$1,300
• − Repairs & maintenance: −$2,144
• − Management: −$2,144
• − Depreciation: −$7,561
• Taxable loss: −$3,900
• Est. tax savings @ 24.0%: +$936
• After-tax cash flow: $1,460/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: Washington Chsd 308
• NCES district ID: 1740980
• Math proficiency: 42% ▬ 0.00%
• Reading proficiency: 42% ▼ -2.00%
• Median HH income: $66,029
• Composite: 37.69/100
• National rank: #4361
• State rank: #112 of 620 in IL

Livability — Washington

• Score: 73/100
• State rank: #272
• US rank: #5136

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Washington, IL
• City population: 24,544
• Population (ZIP): 24,544

Population outlook (Tazewell County) Hauer SSP2

• Today (2025): 131,252 people
• By 2030: 128,028 · -2.5%
• By 2040: 120,443 · -8.2%
• By 2050: 111,872 · -14.8%
• By 2075: 89,843 · -31.5%
• By 2100: 66,468 · -49.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 3% Two or more races 3% Asian 1%
• Common ancestry: Lithuanian 4% Italian 3% Iranian 2%
• Foreign-born: 2% · Canada, China
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Tazewell

• 2024 margin: Strong R (+26.7) · D 35.8% · R 62.5% · Other 1.8%
• 2008→2024 swing: -20.6pp toward R · 2008: -6.0pp · 2024: -26.7pp
• All cycles: 2024: R+26.7 2020: R+25.6 2016: R+28.5 2012: R+17.9 2008: R+6.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -135.85%
• Current HPI: 149.5627
• 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

+395.0% since first listed

4 events — show timeline

• 2026-04-29 Pending — RMLSA as Distributed by MLS Grid
• 2026-04-28 Listed $259,900 RMLSA as Distributed by MLS Grid
• 2026-04-27 Coming Soon $259,900 RMLSA as Distributed by MLS Grid
• 2010-07-29 Sold (Public Records) $52,500 Public Records

Property tax history

+2.1%/yr

Latest (2024): $2,997 · -7.3% YoY. Source: county tax records.