208 N Carroll St · Mount Carroll, IL 61053

$90,000

2 bd · 1.0 ba · 960 sqft · SingleFamily public records · 37 Days on market

Built 1888 4,356 sqft lot $94/sqft · 26% above area Est $71k · 26% over

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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).

• Cash flow +14.8/30.0
• Appreciation +9.1/10.0
• 1% rule +4.7/10.0
• DSCR +4.5/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

Welcome to a charming little gem nestled in the heart of Mt Carroll, where small-town living meets big-time potential. This delightful two-bedroom, one-bathroom home is ready to steal your heart without breaking the bank, making it an exceptional opportunity for first-time buyers, savvy investors, or anyone looking to simplify life without sacrificing comfort. Step inside to discover a welcoming open-concept living and dining area that flows together seamlessly, creating a warm and inviting space perfect for gathering. The layout offers a cozy yet functional feel that makes everyday living effortlessly enjoyable. Two well-appointed bedrooms offer comfortable retreats, while the full bathroom adds practical convenience. This is a wonderful outdoor oasis. This space is practically begging for vibrant flower beds, a thriving vegetable garden, or both. Do not let this one slip through your fingers - schedule your showing today.

Key facts

• Vegetable garden
• Flower beds
• Open-concept living

Tags

• OPEN-CONCEPT LIVING
• OUTDOOR OASIS
• FLOWER BEDS
• VEGETABLE GARDEN

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residential home; 2 stories
• Exterior features: Shingle roof

Interior

• Kitchen: Gas cooktop; Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Fireplace; Full basement
• Laundry & utility: Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $24 ($289/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 $88k (2.7% below list).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#513 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: amenities F, commute F, health & safety F.
• West Carroll CUSD 314 (rural): math 12% / reading 20% proficiency, ranked #498 of 620 in IL (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: West Carroll Primary (math 12% / reading 17%, grade F, #1,278 of 2,056 statewide, top 65%, 416 students, 0% FRL); West Carroll Middle School (math 10% / reading 24%, grade F, #460 of 665 statewide, top 72%, 193 students, 0% FRL); West Carroll High School (math 15% / reading 15%, grade F, #462 of 693 statewide, top 68%, 286 students, 0% FRL) — zoned schools average 0% FRL vs 50% district-wide (50 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 21 active listings in the ZIP; 23 units permitted in Carroll County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($622 loan paydown + $7k appreciation (8.2% local appreciation)).
• Carroll County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (8.2% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 4y ago; this cycle's ask has dropped $5k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $74k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1888 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $87,300 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 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 1888 — 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. 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: 0.97% ✗
• Cap rate: 6.61%
• Cash-on-cash: 1.15%
• DSCR: 1.05
• GRM: 8.6

CMA / ARV

• ARV (median comp): $71,403
• List price: $90,000
• Delta: 26.05%
• Verdict: OVERPRICED
• Comps: 16 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
501 S Carroll St	0.48mi	2/1.5	1,086 (+13%)	19mo	$85,000	$78	38

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

8.19% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.3%
• Equity multiple: 2.58×
• Total profit: $39,722
• Equity at exit: $69,513

10-year hold

• IRR: 19.6%
• Equity multiple: 5.53×
• Total profit: $114,243
• Equity at exit: $139,082

Cash invested: $25,200 (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 61053

• Home prices YoY: 5.4%
• Active inventory: 21
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $876 medium
• Mortgage (P&I): −$472
• Tax from tax record: −$158 /mo · $1,902/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$184
• Net cashflow: $24

Break-even live

Break-even rent $846

Max offer price $90,000

Occupancy floor 92%

Sensitivity live

Price	-10% $75	-5% $50	+0% $24	+5% $-1	+10% $-27
Rent	-10% $-45	-5% $-10	+0% $24	+5% $59	+10% $93
Rate	-1.0pp $69	-0.5pp $47	base $24	+0.5pp $1	+1.0pp $-23

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Listing history 38 events

1. 2026-06-21
   days on market $90,000 Active 37 DOM
2. 2026-06-19
   days on market $90,000 Active 35 DOM
3. 2026-06-18
   days on market $90,000 Active 34 DOM
4. 2026-06-17
   days on market $90,000 Active 33 DOM
5. 2026-06-16
   days on market $90,000 Active 32 DOM
6. 2026-06-15
   days on market $90,000 Active 31 DOM
7. 2026-06-14
   days on market $90,000 Active 29 DOM
8. 2026-06-12
   days on market $90,000 Active 28 DOM
9. 2026-06-09
   days on market $90,000 Active 25 DOM
10. 2026-06-09
    days on marketlisting id $90,000 Active 24 DOM
11. 2026-06-08
    days on market $90,000 Active 25 DOM
12. 2026-06-07
    days on market $90,000 Active 24 DOM
13. 2026-06-07
    days on market $90,000 Active 23 DOM
14. 2026-06-02
    days on market $90,000 Active 19 DOM
15. 2026-06-01
    days on market $90,000 Active 18 DOM
16. 2026-05-31
    days on market $90,000 Active 17 DOM
17. 2026-05-30
    days on market $90,000 Active 16 DOM
18. 2026-05-14
    listed $95,000 Active 939-char remark

    Show marketing remark (939 chars)

    Welcome to a charming little gem nestled in the heart of Mt Carroll, where small-town living meets big-time potential. This delightful two-bedroom, one-bathroom home is ready to steal your heart without breaking the bank, making it an exceptional opportunity for first-time buyers, savvy investors, or anyone looking to simplify life without sacrificing comfort. Step inside to discover a welcoming open-concept living and dining area that flows together seamlessly, creating a warm and inviting space perfect for gathering. The layout offers a cozy yet functional feel that makes everyday living effortlessly enjoyable. Two well-appointed bedrooms offer comfortable retreats, while the full bathroom adds practical convenience. This is a wonderful outdoor oasis. This space is practically begging for vibrant flower beds, a thriving vegetable garden, or both. Do not let this one slip through your fingers - schedule your showing today.

19. 2026-05-14
    listed $95,000 Active 937-char remark

    Show marketing remark (939 chars)

    Welcome to a charming little gem nestled in the heart of Mt Carroll, where small-town living meets big-time potential. This delightful two-bedroom, one-bathroom home is ready to steal your heart without breaking the bank, making it an exceptional opportunity for first-time buyers, savvy investors, or anyone looking to simplify life without sacrificing comfort. Step inside to discover a welcoming open-concept living and dining area that flows together seamlessly, creating a warm and inviting space perfect for gathering. The layout offers a cozy yet functional feel that makes everyday living effortlessly enjoyable. Two well-appointed bedrooms offer comfortable retreats, while the full bathroom adds practical convenience. This is a wonderful outdoor oasis. This space is practically begging for vibrant flower beds, a thriving vegetable garden, or both. Do not let this one slip through your fingers - schedule your showing today.

20. 2025-04-04
    historical
21. 2025-03-24
    price
22. 2025-03-07
    listed Active
23. 2025-03-06
    historical $795
24. 2025-03-03
    listed $795
25. 2025-02-27
    historical $795
26. 2025-02-05
    listed $795
27. 2023-03-24
    status Pending
28. 2022-12-02
    status Pending
29. 2022-10-06
    historical
30. 2022-05-20
    soldstatus $74,000 Closed
31. 2022-05-20
    soldstatus $74,000
32. 2022-05-20
    soldstatus $74,000 Closed
33. 2022-05-20
    soldstatus $74,000
34. 2022-01-10
    listed $77,500
35. 2021-08-06
    historical
36. 2011-11-11
    historical
37. 2007-07-12
    soldstatus $43,000
38. 2001-11-28
    soldstatus $32,000

ⓘ 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: $1,902 · $158/mo
• Projected year-2 tax: $1,972 · $164/mo
• Expected delta: +$71/yr (+$6/mo · 3.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $10,512
• − Mortgage interest: −$5,041
• − Property taxes: −$1,902
• − Insurance: −$450
• − Repairs & maintenance: −$841
• − Management: −$841
• − Depreciation: −$2,618
• Taxable loss: −$1,181
• Est. tax savings @ 24.0%: +$283
• After-tax cash flow: $573/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: West Carroll CUSD 314
• NCES district ID: 1700310
• Math proficiency: 12% ▼ -5.00%
• Reading proficiency: 20% ▼ -3.00%
• Median HH income: $43,090
• Composite: 13.91/100
• National rank: #9483
• State rank: #498 of 620 in IL

Livability — Mount Carroll

• Score: 67/100
• State rank: #513
• US rank: #10633

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mount Carroll, IL
• Population (ZIP): 2,902

Population outlook (Carroll County) Hauer SSP2

• Today (2025): 13,010 people
• By 2030: 12,150 · -6.6%
• By 2040: 10,462 · -19.6%
• By 2050: 9,078 · -30.2%
• By 2075: 6,704 · -48.5%
• By 2100: 5,004 · -61.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 3% Asian 1%
• Common ancestry: Slovak 2% Lithuanian 2% Portuguese 2%
• Foreign-born: 1%
• Languages at home: 90% English-only · German/W. Germanic 8% Other Indo-European 1% Spanish 1%

Political lean MEDSL · Carroll

• 2024 margin: Solid R (+31.7) · D 33.2% · R 64.8% · Other 2.0%
• 2008→2024 swing: -36.5pp toward R · 2008: 4.8pp · 2024: -31.7pp
• All cycles: 2024: R+31.7 2020: R+29.4 2016: R+27.1 2012: D+1.4 2008: D+4.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.19%
• Current HPI: 160.8203
• 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

+181.2% since first listed

23 events — show timeline

• 2026-05-29 Price Changed $90,000 NWIAR
• 2026-05-29 Price Changed $90,000 MRED as Distributed by MLS Grid
• 2026-05-14 Listed $95,000 MRED as Distributed by MLS Grid
• 2026-05-14 Listed $95,000 NWIAR
• 2025-04-04 Listing Removed — MRED as Distributed by MLS Grid
• 2025-03-24 Price Changed — MRED as Distributed by MLS Grid
• 2025-03-07 Listed — MRED as Distributed by MLS Grid
• 2025-03-06 Rental Removed $795 RENTALBEAST
• 2025-03-03 Listed for Rent $795 RENTALBEAST
• 2025-02-27 Rental Removed $795 TURBOTENANT
• 2025-02-05 Listed for Rent $795 TURBOTENANT
• 2023-03-24 Pending — NWIAR
• 2022-12-02 Pending — NWIAR
• 2022-10-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2022-05-20 Sold (Public Records) $74,000 Public Records
• 2022-05-20 Sold (MLS) $74,000 NWIAR
• 2022-05-20 Sold (MLS) $74,000 NWIAR
• 2022-05-20 Sold (MLS) $74,000 NWIAR
• 2022-01-10 Listed $77,500 NWIAR
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2011-11-11 Listing Removed — MRED as Distributed by MLS Grid
• 2007-07-12 Sold (Public Records) $43,000 Public Records
• 2001-11-28 Sold (Public Records) $32,000 Public Records

Property tax history

+10.1%/yr

Latest (2024): $1,902 · +24.7% YoY. Source: county tax records.