422 Ross St · Kewanee, IL 61443

$64,900

3 bd · 1.0 ba · 925 sqft · SingleFamily public records · 57 Days on market

Built 1907 10,018 sqft lot Est $60k · 8% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +3.9/15.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks

This 3 bedroom on the West edge of Kewanee is move in ready with a new roof, furnace, water heater, a detached garage, a huge fenced in back yard and very nicely done stamped concrete sidewalks. The laundry room on the main level could easily be converted back to a bedroom to make it a 4 bedroom. All kitchen appliances stay with the home. THis home is being sold in as is condition with the seller making no repairs, any inspections would be for the buyer's knowledge only.

Key facts

• New furnace
• New water heater
• New roof

Tags

• NEW ROOF
• NEW FURNACE
• NEW WATER HEATER
• HUGE FENCED IN BACK YARD
• STAMPED CONCRETE SIDEWALKS
• KITCHEN APPLIANCES STAY

Property features AI

Finance

• Other: Property parcel number: 2033104003; Built before 1978
• Financial info: No investor or multifamily income/expense details provided
• HOA & community: No HOA details provided

Exterior

• Parking: Detached garage with 2 garage spaces (2 total parking spaces)
• Security: No security details provided
• Utilities: Public water; Public sewer; 100 amp electric service
• Home design: Detached single-family home; 2-story; Fee simple ownership; Built over 100 years ago; Not recently rebuilt
• Construction: Vinyl siding with frame construction; Brick/mortar foundation
• Exterior features: Level lot; Lot dimensions approximately 75 x 133; Lot size less than 0.25 acre

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: 3 bedrooms
• Flooring: No flooring details provided
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Separate dining room; Partial, unfinished basement (approx. 576 sq ft); Electric water heater
• Laundry & utility: No laundry details provided

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $350 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $63k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.8% vs local median 8.6% in Kewanee — 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 69/100 on livability (#409 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: schools F, crime D-, amenities F.
• Kewanee CUSD 229 (town): math 8% / reading 20% proficiency, ranked #540 of 620 in IL (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 39 active listings in the ZIP; 32 units permitted in Henry County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Henry County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1907 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $62,953 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 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 1907 — 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 F-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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.56% ✓
• Cap rate: 12.76%
• Cash-on-cash: 23.10%
• DSCR: 2.03
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $60,125
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
205 Ross St	0.21mi	3/1.0	884 (-4%)	1mo	$58,000	$66	82
430 Ross St	0.02mi	2/1.0 (-1)	956 (+3%)	14mo	$50,000	$52	77
334 Perkins St	0.20mi	3/1.0	1,060 (+15%)	11mo	$100,000	$94	57
703 Madison Ave	0.34mi	2/1.0 (-1)	964 (+4%)	21mo	$35,000	$36	54
634 N Adams St	0.44mi	2/1.0 (-1)	854 (-8%)	9mo	$169,000	$198	54
634 N Adams St	0.44mi	2/1.0 (-1)	854 (-8%)	9mo	$169,000	$198	54
123 S Park St	0.37mi	3/1.5	1,005 (+9%)	15mo	$85,000	$85	54
804 Prairie Ave	0.58mi	3/1.0	820 (-11%)	6mo	$45,000	$55	49
416 S Park St	0.64mi	3/1.0	1,008 (+9%)	9mo	$25,000	$25	47
216 E 2nd St	0.66mi	2/1.0 (-1)	1,000 (+8%)	13mo	$65,000	$65	40
322 Wilsey Ct	0.64mi	3/1.5	1,012 (+9%)	21mo	$55,000	$54	35

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: 16.1%
• Equity multiple: 1.65×
• Total profit: $11,778
• Equity at exit: $9,677

10-year hold

• IRR: 24.7%
• Equity multiple: 3.15×
• Total profit: $39,012
• Equity at exit: $5,611

Cash invested: $18,172 (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 61443

• Active inventory: 39
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,015 medium
• Mortgage (P&I): −$340
• Tax from tax record: −$84 /mo · $1,012/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$213
• Net cashflow: $350

Break-even live

Break-even rent $572

Max offer price $64,900

Occupancy floor 61%

Sensitivity live

Price	-10% $387	-5% $368	+0% $350	+5% $331	+10% $313
Rent	-10% $270	-5% $310	+0% $350	+5% $390	+10% $430
Rate	-1.0pp $382	-0.5pp $366	base $350	+0.5pp $333	+1.0pp $316

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: $16,225
• Closing costs: $1,947
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-05-22
   listed $64,900 Active
2. 2026-05-08
   soldstatus Closed
3. 2026-03-22
   status Pending
4. 2026-03-13
   status Active
5. 2026-02-05
   status Pending
6. 2026-01-16
   status Active
7. 2026-01-14
   historical
8. 2026-01-08
   status Active
9. 2026-01-07
   historical
10. 2026-01-06
    status Active
11. 2026-01-06
    historical
12. 2026-01-05
    historical
13. 2025-12-30
    historical Contingent - Continue to Show
14. 2025-12-24
    status Active
15. 2025-12-23
    historical Contingent - Continue to Show
16. 2025-11-23
    price
17. 2025-10-19
    price
18. 2025-10-07
    listed Active

ⓘ 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: $1,012 · $84/mo
• Projected year-2 tax: $1,243 · $104/mo
• Expected delta: +$231/yr (+$19/mo · 22.8%)

ⓘ 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
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,175
• − Mortgage interest: −$3,635
• − Property taxes: −$1,012
• − Insurance: −$324
• − Repairs & maintenance: −$974
• − Management: −$974
• − Depreciation: −$1,888
• Taxable income: $3,367
• Est. tax owed @ 24.0%: −$808
• After-tax cash flow: $3,389/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: Kewanee CUSD 229
• NCES district ID: 1721000
• Math proficiency: 8% ▼ -8.00%
• Reading proficiency: 20% ▼ -12.00%
• Median HH income: $38,294
• Composite: 11.77/100
• National rank: #9682
• State rank: #540 of 620 in IL

Livability — Kewanee

• Score: 69/100
• State rank: #409
• US rank: #8423

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kewanee, IL
• Population (ZIP): 13,529

Population outlook (Henry County) Hauer SSP2

• Today (2025): 47,376 people
• By 2030: 45,920 · -3.1%
• By 2040: 42,829 · -9.6%
• By 2050: 39,606 · -16.4%
• By 2075: 31,848 · -32.8%
• By 2100: 23,503 · -50.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Hispanic / Latino 11% Black 6% Two or more races 5%
• Hispanic origin (detail): Mexican 9% Puerto Rican 1%
• Common ancestry: Romanian 4% English 3% Italian 3%
• Foreign-born: 3% · Canada
• Languages at home: 92% English-only · Spanish 7%

Political lean MEDSL · Henry

• 2024 margin: Strong R (+24.5) · D 36.8% · R 61.3% · Other 1.9%
• 2008→2024 swing: -32.2pp toward R · 2008: 7.7pp · 2024: -24.5pp
• All cycles: 2024: R+24.5 2020: R+21.4 2016: R+21.2 2012: D+3.1 2008: D+7.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -68.32%
• Current HPI: 121.8672
• 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

18 events — show timeline

• 2026-05-22 Listed $64,900 MRED as Distributed by MLS Grid
• 2026-05-08 Sold (MLS) — MRED as Distributed by MLS Grid
• 2026-03-22 Pending — MRED as Distributed by MLS Grid
• 2026-03-13 Relisted — MRED as Distributed by MLS Grid
• 2026-02-05 Pending — MRED as Distributed by MLS Grid
• 2026-01-16 Relisted — MRED as Distributed by MLS Grid
• 2026-01-14 Listing Removed — MRED as Distributed by MLS Grid
• 2026-01-08 Relisted — MRED as Distributed by MLS Grid
• 2026-01-07 Listing Removed — MRED as Distributed by MLS Grid
• 2026-01-06 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
• 2025-12-30 Contingent — MRED as Distributed by MLS Grid
• 2025-12-24 Relisted — MRED as Distributed by MLS Grid
• 2025-12-23 Contingent — MRED as Distributed by MLS Grid
• 2025-11-23 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-10-19 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-10-07 Listed — RMLSA as Distributed by MLS Grid

Property tax history

+3.8%/yr

Latest (2024): $1,012 · +20.0% YoY. Source: county tax records.