315 W Main St · Sheldon, IL 60966

$21,000

2 bd · 1.0 ba · 1,056 sqft · SingleFamily · 229 Days on market

Built 1979 0.35 ac lot

---

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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Appreciation +5.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Listing remarks MLS

Mobile home on its own corner lot with plenty of shade trees plus large room addition & attached 1 car garage. Gas F/A in Mobile home & Electric heat in Addition. Several newer Replacement Windows. Also includes frame vinyl sided storage shed w/ concrete floor. Could use a little TLC but very affordable living. BEING SOLD AS IS

Key facts

• 0.35 acre lot
• Garage
• Built 1979

Property features AI

Finance

• Other: Fee simple ownership
• HOA & community: No master association fee required

Exterior

• Parking: Attached garage (owned) — 1 garage space, 1 total parking space
• Utilities: Public water; Public sewer
• Home design: Manufactured detached single-family home; Single-story living (main level rooms listed)
• Construction: Wood siding; Approximately 41–50 years old; Unfinished basement (456 sq ft)
• Exterior features: Lot dimensions approximately 85 x 180; Lot smaller than 0.25 acre

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Master bedroom on main level (16 x 9); Second bedroom on main level (9 x 10); Two additional bedrooms listed
• Flooring: Carpet in living room and some bedrooms; Vinyl flooring in master bedroom; Wood laminate in kitchen and dining room
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: 5 total rooms; Unfinished basement (partial crawl space)
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $21k.

Deal economics

• At list price, monthly cash flow is $609 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($954 rent vs $21k).
• Recommended offer: $18k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#946 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, employment F.
• Milford Area PSD 124 (rural): math 30% / reading 26% proficiency, ranked #278 of 620 in IL (top 45%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Milford Grade School West Campus (math 32% / reading 22%, grade F, #749 of 2,056 statewide, top 40%, 356 students, 0% FRL); Milford High School Campus (math 34% / reading 34%, grade F, #126 of 693 statewide, top 21%, 163 students, 0% FRL) — zoned schools average 0% FRL vs 47% district-wide (47 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 14 active listings in the ZIP; 14 units permitted in Iroquois County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $775 of equity ($145 loan paydown + $630 appreciation (3.0% local appreciation)).
• Iroquois County population projected at -20% 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 $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 229 days — a 12% lower offer ($18k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 19y ago; this cycle's ask has dropped $21k (50%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $11k; list at $21k implies a 91% gain — meaningful room to come down on a strong offer.

Recommended offer $18,480 (12.0% below list)

Questions for the listing agent

1. It's been on market 229 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 4.54% ✓
• Cap rate: 41.07%
• Cash-on-cash: 124.21%
• DSCR: 6.53
• GRM: 1.8

CMA / ARV

• ARV (on-the-fly): $103,488
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
315 W Main St	0.00mi	2/1.0	1,056 (0%)	1mo	$15,000	$14	99
285 E Center St	0.38mi	3/1.0 (+1)	1,056 (0%)	10mo	$103,000	$98	68

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: —
• Equity multiple: 8.03×
• Total profit: $41,308
• Equity at exit: $9,443

10-year hold

• IRR: —
• Equity multiple: 16.77×
• Total profit: $92,748
• Equity at exit: $14,552

Cash invested: $5,880 (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 60966

• Active inventory: 14
• Price-to-rent: 1.8×

Monthly cashflow live

• Estimated rent: $954 medium
• Mortgage (P&I): −$110
• Tax est. 1.5%: −$26 /mo · $315/yr
• Insurance: −$9
• HOA: −$0
• Vacancy / Maint / Mgmt: −$200
• Net cashflow: $609

Break-even live

Break-even rent $184

Max offer price $21,000

Occupancy floor 31%

Sensitivity live

Price	-10% $623	-5% $616	+0% $609	+5% $601	+10% $594
Rent	-10% $533	-5% $571	+0% $609	+5% $646	+10% $684
Rate	-1.0pp $619	-0.5pp $614	base $609	+0.5pp $603	+1.0pp $598

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: $5,250
• Closing costs: $630
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-05-12
   status Pending
2. 2026-03-23
   price $21,000
3. 2026-01-26
   price $22,500
4. 2025-12-27
   price $28,000
5. 2025-11-13
   price $29,900
6. 2025-10-31
   price $36,500
7. 2025-10-13
   price $39,600
8. 2025-09-25
   listed $42,000 Active
9. 2009-08-07
   soldstatus $11,000 338-char remark

   Show marketing remark (338 chars)

   Mobile home on its own corner lot with plenty of shade trees plus large room addition & attached 1 car garage. Gas F/A in Mobile home & Electric heat in Addition. Several newer Replacement Windows. Also includes frame vinyl sided storage shed w/ concrete floor. Could use a little TLC but very affordable living. BEING SOLD AS IS

10. 2009-08-01
    soldstatus $11,000
11. 2009-07-27
    historical 338-char remark

    Show marketing remark (338 chars)

    Mobile home on its own corner lot with plenty of shade trees plus large room addition & attached 1 car garage. Gas F/A in Mobile home & Electric heat in Addition. Several newer Replacement Windows. Also includes frame vinyl sided storage shed w/ concrete floor. Could use a little TLC but very affordable living. BEING SOLD AS IS

12. 2009-07-22
    listed $14,900 338-char remark

    Show marketing remark (338 chars)

    Mobile home on its own corner lot with plenty of shade trees plus large room addition & attached 1 car garage. Gas F/A in Mobile home & Electric heat in Addition. Several newer Replacement Windows. Also includes frame vinyl sided storage shed w/ concrete floor. Could use a little TLC but very affordable living. BEING SOLD AS IS

13. 2007-12-07
    soldstatus $13,000 321-char remark

    Show marketing remark (321 chars)

    Mobile home on its own corner lot with plenty of shade trees plus large room addition & attached 1 car garage. Gas F/A in Mobile home & Electric heat in Addition. Several newer Replacement Windows. Also includes frame vinyl sided storage shed w/ concrete floor. Could use a little TLC but very affordable living.

14. 2007-12-01
    soldstatus $13,000
15. 2007-11-19
    historical 321-char remark

    Show marketing remark (321 chars)

    Mobile home on its own corner lot with plenty of shade trees plus large room addition & attached 1 car garage. Gas F/A in Mobile home & Electric heat in Addition. Several newer Replacement Windows. Also includes frame vinyl sided storage shed w/ concrete floor. Could use a little TLC but very affordable living.

16. 2007-11-01
    listed $17,000 321-char remark

    Show marketing remark (321 chars)

    Mobile home on its own corner lot with plenty of shade trees plus large room addition & attached 1 car garage. Gas F/A in Mobile home & Electric heat in Addition. Several newer Replacement Windows. Also includes frame vinyl sided storage shed w/ concrete floor. Could use a little TLC but very affordable living.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,449
• − Mortgage interest: −$1,176
• − Property taxes: −$315
• − Insurance: −$105
• − Repairs & maintenance: −$916
• − Management: −$916
• − Depreciation: −$611
• Taxable income: $7,410
• Est. tax owed @ 24.0%: −$1,778
• After-tax cash flow: $5,525/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: Milford Area PSD 124
• NCES district ID: 1701416
• Math proficiency: 30% ▲ 2.00%
• Reading proficiency: 26% ▼ -11.00%
• Median HH income: $44,333
• Composite: 24.03/100
• National rank: #7767
• State rank: #278 of 620 in IL

Livability — Sheldon

• Score: 60/100
• State rank: #946
• US rank: #18538

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sheldon, IL
• Population (ZIP): 1,554

Population outlook (Iroquois County) Hauer SSP2

• Today (2025): 26,826 people
• By 2030: 25,771 · -3.9%
• By 2040: 23,589 · -12.1%
• By 2050: 21,523 · -19.8%
• By 2075: 17,998 · -32.9%
• By 2100: 14,979 · -44.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Lithuanian 9% Slovak 5% Romanian 3%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Iroquois

• 2024 margin: Solid R (+57.3) · D 20.6% · R 78.0% · Other 1.4%
• 2008→2024 swing: -27.5pp toward R · 2008: -29.8pp · 2024: -57.3pp
• All cycles: 2024: R+57.3 2020: R+56.7 2016: R+56.0 2012: R+44.7 2008: R+29.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+23.5% since first listed

16 events — show timeline

• 2026-05-12 Pending — MRED as Distributed by MLS Grid
• 2026-03-23 Price Changed $21,000 MRED as Distributed by MLS Grid
• 2026-01-26 Price Changed $22,500 MRED as Distributed by MLS Grid
• 2025-12-27 Price Changed $28,000 MRED as Distributed by MLS Grid
• 2025-11-13 Price Changed $29,900 MRED as Distributed by MLS Grid
• 2025-10-31 Price Changed $36,500 MRED as Distributed by MLS Grid
• 2025-10-13 Price Changed $39,600 MRED as Distributed by MLS Grid
• 2025-09-25 Listed $42,000 MRED as Distributed by MLS Grid
• 2009-08-07 Sold (MLS) $11,000 MRED as Distributed by MLS Grid
• 2009-08-01 Sold (Public Records) $11,000 Public Records
• 2009-07-27 Listing Removed — MRED as Distributed by MLS Grid
• 2009-07-22 Listed $14,900 MRED as Distributed by MLS Grid
• 2007-12-07 Sold (MLS) $13,000 MRED as Distributed by MLS Grid
• 2007-12-01 Sold (Public Records) $13,000 Public Records
• 2007-11-19 Listing Removed — MRED as Distributed by MLS Grid
• 2007-11-01 Listed $17,000 MRED as Distributed by MLS Grid

Property tax history

-25.2%/yr

Latest (2024): $12 · -96.8% YoY. Source: county tax records.