214 W Owsley St · Chenoa, IL 61726

$69,900

1 bd · 1.0 ba · 788 sqft · Other public records · 81 Days on market

Built 1889 6,969 sqft lot $89/sqft · at area comps Est $73k · at est.

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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 +9.3/15.0
• Livability +3.8/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This affordable home close to downtown Chenoa & just minutes from I-55 offers 1 Bedroom, 1 BA, spacious living room, & a large kitchen w/dining space, pantry, & built-in desk area. Small back porch/entry has laundry hook-ups. Approx. 6x16 covered front porch to enjoy on nice days, & a 16x24, detached 1-Car Garage in back w/newer door. If you're tired of renting & looking for something small & easy to manage, or an investor looking for a potential rental, this might be the one for you! Bathroom is Shower Only, measures approx. 8x9, & is accessible from bedroom. Spacious BR closet is actually IN the bathroom. Furnace is located in a 2nd bathroom closet. Water Heater Replaced in 2023, Roof replaced in 2018, Furnace & A/C replaced in 2010. Home is Being Sold "As Is."

Key facts

• Covered front porch
• Large kitchen
• Built-in desk area

Tags

• CLOSE TO DOWNTOWN
• LARGE KITCHEN
• BUILT-IN DESK AREA
• COVERED FRONT PORCH
• DETACHED GARAGE
• SPACIOUS CLOSET

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath other listed at $70k.

Deal economics

• At list price, monthly cash flow is $321 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $66k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 76/100 on livability (#204 in IL, #3,747 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: commute D, amenities F.
• Prairie Central CUSD 8 (rural): math 32% / reading 32% proficiency, ranked #223 of 620 in IL (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Prairie Central High School (math 22% / reading 22%, grade F, #319 of 693 statewide, top 50%, 516 students, 0% FRL) — zoned schools average 0% FRL vs 36% district-wide (36 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 9 active listings in the ZIP; 247 units permitted in McLean County in 2024 (54 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $483 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 81 days — a 6% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $37k; list at $70k implies a 89% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1889 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $65,706 (6.0% below list)

Questions for the listing agent

1. It's been on market 81 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1889 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.58% ✓
• Cap rate: 11.80%
• Cash-on-cash: 19.68%
• DSCR: 1.88
• GRM: 5.3

CMA / ARV

• ARV (median comp): $72,774
• List price: $69,900
• Delta: -3.95%
• Verdict: FAIR
• Comps: 12 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 11.8%
• Equity multiple: 1.47×
• Total profit: $9,180
• Equity at exit: $10,422

10-year hold

• IRR: 20.8%
• Equity multiple: 2.77×
• Total profit: $34,564
• Equity at exit: $6,044

Cash invested: $19,572 (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 61726

• Home prices YoY: -20.7%
• Active inventory: 9
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,105 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$156 /mo · $1,878/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$232
• Net cashflow: $321

Break-even live

Break-even rent $699

Max offer price $69,900

Occupancy floor 66%

Sensitivity live

Price	-10% $361	-5% $341	+0% $321	+5% $301	+10% $281
Rent	-10% $234	-5% $277	+0% $321	+5% $365	+10% $408
Rate	-1.0pp $356	-0.5pp $339	base $321	+0.5pp $303	+1.0pp $285

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $69,900 Active 81 DOM
2. 2026-06-21
   days on market $69,900 Active 80 DOM
3. 2026-06-18
   days on market $69,900 Active 78 DOM
4. 2026-06-17
   days on market $69,900 Active 77 DOM
5. 2026-06-16
   days on market $69,900 Active 76 DOM
6. 2026-06-15
   days on market $69,900 Active 75 DOM
7. 2026-06-13
   days on market $69,900 Active 73 DOM
8. 2026-06-12
   days on market $69,900 Active 72 DOM
9. 2026-06-09
   days on market $69,900 Active 69 DOM
10. 2026-06-08
    days on market $69,900 Active 68 DOM
11. 2026-06-07
    days on market $69,900 Active 67 DOM
12. 2026-06-05
    days on market $69,900 Active 65 DOM
13. 2026-06-04
    days on market $69,900 Active 63 DOM
14. 2026-06-02
    days on market $69,900 Active 62 DOM
15. 2026-06-01
    days on market $69,900 Active 61 DOM
16. 2026-05-31
    days on market $69,900 Active 60 DOM
17. 2026-05-31
    days on market $69,900 Active 59 DOM
18. 2026-05-16
    price $69,900 823-char remark

    Show marketing remark (823 chars)

    This affordable home close to downtown Chenoa & just minutes from I-55 offers 1 Bedroom, 1 BA, spacious living room, & a large kitchen w/dining space, pantry, & built-in desk area. Small back porch/entry has laundry hook-ups. Approx. 6x16 covered front porch to enjoy on nice days, & a 16x24, detached 1-Car Garage in back w/newer door. If you're tired of renting & looking for something small & easy to manage, or an investor looking for a potential rental, this might be the one for you! Bathroom is Shower Only, measures approx. 8x9, & is accessible from bedroom. Spacious BR closet is actually IN the bathroom. Furnace is located in a 2nd bathroom closet. Water Heater Replaced in 2023, Roof replaced in 2018, Furnace & A/C replaced in 2010. Home is Being Sold "As Is."

19. 2026-04-01
    listed $74,900 Active 823-char remark

    Show marketing remark (823 chars)

    This affordable home close to downtown Chenoa & just minutes from I-55 offers 1 Bedroom, 1 BA, spacious living room, & a large kitchen w/dining space, pantry, & built-in desk area. Small back porch/entry has laundry hook-ups. Approx. 6x16 covered front porch to enjoy on nice days, & a 16x24, detached 1-Car Garage in back w/newer door. If you're tired of renting & looking for something small & easy to manage, or an investor looking for a potential rental, this might be the one for you! Bathroom is Shower Only, measures approx. 8x9, & is accessible from bedroom. Spacious BR closet is actually IN the bathroom. Furnace is located in a 2nd bathroom closet. Water Heater Replaced in 2023, Roof replaced in 2018, Furnace & A/C replaced in 2010. Home is Being Sold "As Is."

20. 2006-06-14
    soldstatus $37,000

ⓘ 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: $1,878 · $156/mo
• Projected year-2 tax: $1,878 · $156/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 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: $13,264
• − Mortgage interest: −$3,915
• − Property taxes: −$1,878
• − Insurance: −$350
• − Repairs & maintenance: −$1,061
• − Management: −$1,061
• − Depreciation: −$2,033
• Taxable income: $2,966
• Est. tax owed @ 24.0%: −$712
• After-tax cash flow: $3,141/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: Prairie Central CUSD 8
• NCES district ID: 1700005
• Math proficiency: 32% ▼ -6.00%
• Reading proficiency: 32% ▼ -16.00%
• Median HH income: $52,909
• Composite: 28.15/100
• National rank: #6814
• State rank: #223 of 620 in IL

Livability — Chenoa

• Score: 76/100
• State rank: #204
• US rank: #3747

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Chenoa, IL
• Population (ZIP): 2,728

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 (94%)
• Race & ethnicity: White 94% Black 3% Hispanic / Latino 2% Two or more races 1%
• Common ancestry: Italian 7% Lithuanian 1% Portuguese 1%
• Foreign-born: 1%
• Languages at home: 99% English-only · Spanish 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: ▼ -53.23%
• Current HPI: 203.983
• 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

+88.9% since first listed

3 events — show timeline

• 2026-05-16 Price Changed $69,900 MRED as Distributed by MLS Grid
• 2026-04-01 Listed $74,900 MRED as Distributed by MLS Grid
• 2006-06-14 Sold (Public Records) $37,000 Public Records

Property tax history

+4.9%/yr

Latest (2023): $1,878 · +35.1% YoY. Source: county tax records.