805 Spring St · Washington, IL 61571

$100,000

3 bd · 1.0 ba · 1,331 sqft · SingleFamily public records · 2 Days on market

Built 1938 6,400 sqft lot Est $174k · 43% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.8/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

School District #52 – Fixer-Upper Opportunity! Bring your vision and make this home your own! This property offers 3 bedrooms and the potential for 2 bathrooms. The main-floor bathroom is already plumbed and currently includes a toilet, providing a great opportunity for future completion. The main level features a kitchen with formal dining room, living room, and two bedrooms. Upstairs, you'll find a third bedroom, offering additional living space and flexibility. A standout feature of this property is the impressive 25' x 35' tandem garage, capable of accommodating up to 4 vehicles. The garage boasts 10x16 garage door, 12-foot ceilings, 220 amp service, insulated, heated, electricit

Key facts

• Insulated garage
• 220 amp service
• 12-foot ceilings

Tags

• MAIN-FLOOR BATHROOM PLUMBED
• IMPRESSIVE TANDEM GARAGE
• GARAGE DOOR 10X16
• 12-FOOT CEILINGS
• 220 AMP SERVICE
• INSULATED GARAGE

Property features AI

Exterior

• Parking: Detached garage with 4 spaces; On-street parking available; Tandem parking configuration
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Built in 1938
• Construction: Shingle roof
• Exterior features: Level lot; Shed(s); Paved road access

Interior

• Kitchen: Refrigerator included
• Bedrooms: Three bedrooms (one on the main level, one on the upper level, one on the lower level); Primary/main bedrooms feature egress windows
• Flooring: Hardwood flooring in several bedrooms and living areas; Laminate flooring in the dining room; Vinyl flooring in the kitchen; Other flooring on one upper-level bedroom
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Gas water heater; Central air conditioning
• Interior features: Cable available; Full unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Cap rate 19.6% vs local median 3.2% in Washington — 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 73/100 on livability (#272 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety F.
• Washington Chsd 308 (suburban): math 42% / reading 42% proficiency, ranked #112 of 620 in IL (top 18%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Washington Comm High School (math 42% / reading 42%, grade F, #76 of 693 statewide, top 12%, 1,484 students, 0% FRL).
• Market conditions: 129 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 77 units permitted in Tazewell County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Tazewell County population projected at -15% 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 $28k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $48k; list at $100k implies a 111% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price; built in 1938 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $100,000

Questions for the listing agent

1. Built in 1938 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 2.48% ✓
• Cap rate: 19.61%
• Cash-on-cash: 47.56%
• DSCR: 3.12
• GRM: 3.4

CMA / ARV

• ARV (on-the-fly): $174,361
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
215 Court Dr	0.11mi	3/1.0	1,327 (-0%)	4mo	$170,000	$128	91
106 Bondurant St	0.15mi	3/1.5	1,334 (+0%)	10mo	$200,000	$150	82
1111 Kern Rd	0.45mi	3/1.5	1,344 (+1%)	8mo	$188,000	$140	69
112 Bondurant St	0.18mi	4/1.0 (+1)	1,485 (+12%)	1mo	$225,000	$152	66
619 Spring St	0.11mi	3/1.0	1,136 (-15%)	8mo	$170,000	$150	64
1006 Jefferson St	0.24mi	3/1.0	1,378 (+4%)	24mo	$138,500	$101	63
317 Court Dr	0.20mi	2/1.0 (-1)	1,248 (-6%)	17mo	$135,000	$108	61
1307 Bobolink Dr	0.66mi	3/1.0	1,228 (-8%)	3mo	$175,000	$143	54
206 Lincoln St	0.41mi	2/2.0 (-1)	1,205 (-10%)	15mo	$157,500	$131	43
201 W Jefferson St	0.53mi	3/1.5	1,456 (+9%)	19mo	$149,500	$103	42
207 Monroe St	0.62mi	3/1.5	1,495 (+12%)	21mo	$174,000	$116	31

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: 45.0%
• Equity multiple: 2.95×
• Total profit: $54,609
• Equity at exit: $14,910

10-year hold

• IRR: 50.9%
• Equity multiple: 5.97×
• Total profit: $139,110
• Equity at exit: $8,646

Cash invested: $28,000 (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 61571

• Active inventory: 129
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $2,480 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$283 /mo · $3,398/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$521
• Net cashflow: $1,110

Break-even live

Break-even rent $1,075

Max offer price $100,000

Occupancy floor 50%

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
700 Debates St Washington, IL	3.0	2.0	1319	$2,750	$2.08	13d	1	1.02mi
114 S Cedar St Washington, IL	2.0	1.0	876	$1,350	$1.54	43d	1	1.02mi
713 Stephanie Ct Washington, IL	3.0	2.0	1319	$2,750	$2.08	20d	1	1.12mi
704 Debates St Washington, IL	3.0	2.0	1319	$2,750	$2.08	13d	1	1.18mi

Listing history 4 events

1. 2026-06-14
   status $100,000 Pending 2 DOM
2. 2026-06-13
   days on market $100,000 Active 2 DOM
3. 2026-06-12
   remarks 693-char remark
4. 2026-06-12
   listed $100,000 Active 1 DOM

ⓘ 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: $3,398 · $283/mo
• Projected year-2 tax: $3,398 · $283/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 3/10 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: $29,756
• − Mortgage interest: −$5,602
• − Property taxes: −$3,398
• − Insurance: −$500
• − Repairs & maintenance: −$2,381
• − Management: −$2,381
• − Depreciation: −$2,909
• Taxable income: $12,587
• Est. tax owed @ 24.0%: −$3,021
• After-tax cash flow: $10,296/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: Washington Chsd 308
• NCES district ID: 1740980
• Math proficiency: 42% ▬ 0.00%
• Reading proficiency: 42% ▼ -2.00%
• Median HH income: $66,029
• Composite: 37.69/100
• National rank: #4361
• State rank: #112 of 620 in IL

Livability — Washington

• Score: 73/100
• State rank: #272
• US rank: #5136

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Washington, IL
• City population: 24,544
• Population (ZIP): 24,544

Population outlook (Tazewell County) Hauer SSP2

• Today (2025): 131,252 people
• By 2030: 128,028 · -2.5%
• By 2040: 120,443 · -8.2%
• By 2050: 111,872 · -14.8%
• By 2075: 89,843 · -31.5%
• By 2100: 66,468 · -49.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 3% Two or more races 3% Asian 1%
• Common ancestry: Lithuanian 4% Italian 3% Iranian 2%
• Foreign-born: 2% · Canada, China
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Tazewell

• 2024 margin: Strong R (+26.7) · D 35.8% · R 62.5% · Other 1.8%
• 2008→2024 swing: -20.6pp toward R · 2008: -6.0pp · 2024: -26.7pp
• All cycles: 2024: R+26.7 2020: R+25.6 2016: R+28.5 2012: R+17.9 2008: R+6.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -135.85%
• Current HPI: 149.5627
• 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

+110.5% since first listed

2 events — show timeline

• 2026-06-11 Listed $100,000 RMLSA as Distributed by MLS Grid
• 1989-06-16 Sold (Public Records) $47,500 Public Records

Property tax history

+3.1%/yr

Latest (2024): $3,398 · +5.8% YoY. Source: county tax records.