221 S Schrader St · Havana, IL 62644

$35,000

2 bd · 1.0 ba · 714 sqft · SingleFamily · 122 Days on market

Built 1886 Poor condition $49/sqft · 5% below area Est $37k · 5% under ↓ 8% since listing

---

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 +9.9/15.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Schools +1.7/10.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

2BR/1BA bungalow situated on a spacious lot, featuring a large heated two-car garage. The garage is currently used as a car detailing service and includes a floor drain and room for equipment or storage. The home includes an eat-in kitchen, living room, two bedrooms, full bath and a partial basement. This property is a renovation and investment opportunity.

Key facts

• Heated garage
• Floor drain
• 2 garage spots

Tags

• HEATED GARAGE
• FLOOR DRAIN
• INVESTMENT OPPORTUNITY

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $35k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $686 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Recommended offer: $31k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#989 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D-, crime F, amenities F.
• Havana CUSD 126 (town): math 17% / reading 22% proficiency, ranked #448 of 620 in IL (top 72%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 36 active listings in the ZIP; 7 units permitted in Mason County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $242 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Mason County population projected at -30% 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 $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 122 days — a 12% lower offer ($31k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1886 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $30,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 122 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1886 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Crime grade is F 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?
8. 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.
9. 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.
10. 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: 3.36% ✓
• Cap rate: 29.83%
• Cash-on-cash: 84.05%
• DSCR: 4.74
• GRM: 2.5

CMA / ARV

• ARV (median comp): $36,994
• List price: $35,000
• Delta: -5.39%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
535 S Schrader St	0.20mi	2/1.0	728 (+2%)	17mo	$30,000	$41	73
529 S Schrader St	0.19mi	2/1.0	800 (+12%)	13mo	$33,000	$41	60
520 S Pearl St	0.37mi	3/1.0 (+1)	792 (+11%)	0mo	$82,000	$104	60
226 E Jefferson St	0.45mi	2/1.0	672 (-6%)	22mo	$60,000	$89	51
726 S Promenade St	0.58mi	2/1.0	672 (-6%)	23mo	$69,900	$104	44
813 N Broadway St	0.72mi	2/1.0	616 (-14%)	7mo	$65,000	$106	38

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: 84.4%
• Equity multiple: 4.88×
• Total profit: $38,066
• Equity at exit: $5,219

10-year hold

• IRR: 87.7%
• Equity multiple: 10.13×
• Total profit: $89,516
• Equity at exit: $3,026

Cash invested: $9,800 (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 62644

• Home prices YoY: -14.0%
• Active inventory: 36
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $1,175 medium
• Mortgage (P&I): −$184
• Tax est. 1.5%: −$44 /mo · $525/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$247
• Net cashflow: $686

Break-even live

Break-even rent $306

Max offer price $35,000

Occupancy floor 37%

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $35,000 Active 122 DOM
2. 2026-06-17
   days on market $35,000 Active 121 DOM
3. 2026-06-16
   days on market $35,000 Active 120 DOM
4. 2026-06-15
   days on market $35,000 Active 119 DOM
5. 2026-06-13
   days on market $35,000 Active 117 DOM
6. 2026-06-12
   days on market $35,000 Active 116 DOM
7. 2026-06-09
   days on market $35,000 Active 113 DOM
8. 2026-06-08
   days on market $35,000 Active 112 DOM
9. 2026-06-07
   days on market $35,000 Active 111 DOM
10. 2026-06-05
    days on market $35,000 Active 109 DOM
11. 2026-06-04
    days on market $35,000 Active 107 DOM
12. 2026-06-02
    days on market $35,000 Active 106 DOM
13. 2026-06-01
    days on market $35,000 Active 105 DOM
14. 2026-05-31
    days on market $35,000 Active 104 DOM
15. 2026-05-31
    days on market $35,000 Active 103 DOM
16. 2026-03-27
    price $35,000 359-char remark

    Show marketing remark (359 chars)

    2BR/1BA bungalow situated on a spacious lot, featuring a large heated two-car garage. The garage is currently used as a car detailing service and includes a floor drain and room for equipment or storage. The home includes an eat-in kitchen, living room, two bedrooms, full bath and a partial basement. This property is a renovation and investment opportunity.

17. 2026-02-16
    listed $38,000 Active 359-char remark

    Show marketing remark (359 chars)

    2BR/1BA bungalow situated on a spacious lot, featuring a large heated two-car garage. The garage is currently used as a car detailing service and includes a floor drain and room for equipment or storage. The home includes an eat-in kitchen, living room, two bedrooms, full bath and a partial basement. This property is a renovation and investment opportunity.

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

Taxation est. · year 1

• Rental income: $14,101
• − Mortgage interest: −$1,961
• − Property taxes: −$525
• − Insurance: −$175
• − Repairs & maintenance: −$1,128
• − Management: −$1,128
• − Depreciation: −$1,018
• Taxable income: $8,166
• Est. tax owed @ 24.0%: −$1,960
• After-tax cash flow: $6,277/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.

Condition & rehab AI · 9 photos

Poor 20/100 Extensive rehab

This property requires extensive repairs and updates to become move-in ready. Significant structural and plumbing issues need addressing to improve its value.

Repairs flagged

• Major Exposed plumbing — Exposed plumbing indicates potential water damage
• Major Exposed drywall — Exposed drywall indicates structural damage
• Major Exposed subfloor — Exposed subfloor indicates structural damage

Value-add opportunities

• Both Painting — Fresh paint can improve curb appeal and interior aesthetics
• Both Siding repair — Repairing the siding can improve the home's appearance and increase its value
• Both Plumbing repairs — Fixing the exposed plumbing can prevent further water damage and improve the home's functionality

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exposed plumbing · Exposed plumbing indicates potential water damage	Major	$15,000–50,000
Exposed drywall · Exposed drywall indicates structural damage	Major	$15,000–50,000
Exposed subfloor · Exposed subfloor indicates structural damage	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both Painting — Fresh paint can improve curb appeal and interior aesthetics ↑
• Both Siding repair — Repairing the siding can improve the home's appearance and increase its value ↑
• Both Plumbing repairs — Fixing the exposed plumbing can prevent further water damage and improve the home's functionality ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Havana CUSD 126
• NCES district ID: 1718510
• Math proficiency: 17% ▼ -10.00%
• Reading proficiency: 22% ▼ -16.00%
• Median HH income: $39,881
• Composite: 16.52/100
• National rank: #9181
• State rank: #448 of 620 in IL

Livability — Havana

• Score: 60/100
• State rank: #989
• US rank: #19077

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Havana, IL
• City population: 4,657
• Population (ZIP): 4,657

Population outlook (Mason County) Hauer SSP2

• Today (2025): 12,087 people
• By 2030: 11,283 · -6.7%
• By 2040: 9,766 · -19.2%
• By 2050: 8,421 · -30.3%
• By 2075: 5,785 · -52.1%
• By 2100: 3,888 · -67.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 3% Hispanic / Latino 3%
• Common ancestry: Slovak 3% Lithuanian 2% Italian 2%
• Foreign-born: 1% · Canada, Jamaica
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Mason

• 2024 margin: Solid R (+42.2) · D 27.8% · R 70.1% · Other 2.1%
• 2008→2024 swing: -48.1pp toward R · 2008: 5.9pp · 2024: -42.2pp
• All cycles: 2024: R+42.2 2020: R+39.5 2016: R+31.8 2012: R+6.3 2008: D+5.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -18.81%
• Current HPI: 115.1077
• 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

-7.9% since first listed

2 events — show timeline

• 2026-03-27 Price Changed $35,000 RMLSA as Distributed by MLS Grid
• 2026-02-16 Listed $38,000 RMLSA as Distributed by MLS Grid