734 Locust St · Minonk, IL 61760

$140,000

8 bd · 4.0 ba · 2,400 sqft · MultiFamily · 573 Days on market

Built 1920 Average condition 0.29 ac lot ↓ 52% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.3/5.0
• Condition / age +2.8/5.0
• Rent growth +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

INVESTMENT PROPERTY! This is a great opportunity to expand your rental portfolio with this well cared for 4 unit property in Minonk. Each unit is 2 bedroom, 1 bath. Laundry on premises. Seller has remodeled the 3 occupied units as they became open over the last 7 years. Unit D is vacant and does need some minor remodeling. The roof is approximately 10 years old. Three furnaces and Central Air units are less than 5 years old and water heaters are less than 2 years old. Appliances in occupied units stay. Detached garage for storage. Tenant occupied so 24 hour notice is required. Come take your tour today!

Key facts

• 0.29 acre lot
• 4 parking spots
• Built 1920

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $140k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive. Per door: $413/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $140k).
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#579 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D, employment D, amenities F.
• Fieldcrest CUSD 6 (rural): math 18% / reading 29% proficiency, ranked #361 of 620 in IL (top 58%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 7 active listings in the ZIP; 35 units permitted in Woodford County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $968 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Woodford County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 573 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $160k (53%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $123,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 573 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.37% ✓
• Cap rate: 20.47%
• Cash-on-cash: 50.62%
• DSCR: 3.25
• GRM: 3.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 48.4%
• Equity multiple: 3.11×
• Total profit: $82,690
• Equity at exit: $20,874

10-year hold

• IRR: 54.0%
• Equity multiple: 6.30×
• Total profit: $207,832
• Equity at exit: $12,105

Cash invested: $39,200 (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 61760

• Active inventory: 7
• Price-to-rent: 14.1×

Monthly cashflow live

• Estimated rent: $3,318 medium
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,100/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$697
• Net cashflow: $1,654

Break-even live

Break-even rent $1,225

Max offer price $140,000

Occupancy floor 45%

Sensitivity live

Price	-10% $1,750	-5% $1,702	+0% $1,654	+5% $1,605	+10% $1,557
Rent	-10% $1,392	-5% $1,523	+0% $1,654	+5% $1,785	+10% $1,916
Rate	-1.0pp $1,724	-0.5pp $1,689	base $1,654	+0.5pp $1,617	+1.0pp $1,581

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$3,320
Total (4 units)			$3,318

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-19
   days on market $140,000 Active 573 DOM
2. 2026-06-18
   days on market $140,000 Active 572 DOM
3. 2026-06-17
   days on market $140,000 Active 571 DOM
4. 2026-06-16
   days on market $140,000 Active 570 DOM
5. 2026-06-15
   days on market $140,000 Active 569 DOM
6. 2026-06-14
   days on market $140,000 Active 567 DOM
7. 2026-06-12
   days on market $140,000 Active 566 DOM
8. 2026-06-09
   days on market $140,000 Active 563 DOM
9. 2026-06-08
   days on market $140,000 Active 562 DOM
10. 2026-06-07
    days on market $140,000 Active 561 DOM
11. 2026-06-02
    days on market $140,000 Active 556 DOM
12. 2026-06-01
    days on market $140,000 Active 555 DOM
13. 2026-05-31
    price $140,000 Active 554 DOM
14. 2026-05-31
    days on market $145,500 Active 554 DOM
15. 2026-05-30
    days on market $145,500 Active 553 DOM
16. 2026-02-20
    price $145,500 610-char remark

    Show marketing remark (610 chars)

    INVESTMENT PROPERTY! This is a great opportunity to expand your rental portfolio with this well cared for 4 unit property in Minonk. Each unit is 2 bedroom, 1 bath. Laundry on premises. Seller has remodeled the 3 occupied units as they became open over the last 7 years. Unit D is vacant and does need some minor remodeling. The roof is approximately 10 years old. Three furnaces and Central Air units are less than 5 years old and water heaters are less than 2 years old. Appliances in occupied units stay. Detached garage for storage. Tenant occupied so 24 hour notice is required. Come take your tour today!

17. 2025-12-16
    status Active 610-char remark

    Show marketing remark (610 chars)

    INVESTMENT PROPERTY! This is a great opportunity to expand your rental portfolio with this well cared for 4 unit property in Minonk. Each unit is 2 bedroom, 1 bath. Laundry on premises. Seller has remodeled the 3 occupied units as they became open over the last 7 years. Unit D is vacant and does need some minor remodeling. The roof is approximately 10 years old. Three furnaces and Central Air units are less than 5 years old and water heaters are less than 2 years old. Appliances in occupied units stay. Detached garage for storage. Tenant occupied so 24 hour notice is required. Come take your tour today!

18. 2025-12-16
    price $160,000 610-char remark

    Show marketing remark (610 chars)

    INVESTMENT PROPERTY! This is a great opportunity to expand your rental portfolio with this well cared for 4 unit property in Minonk. Each unit is 2 bedroom, 1 bath. Laundry on premises. Seller has remodeled the 3 occupied units as they became open over the last 7 years. Unit D is vacant and does need some minor remodeling. The roof is approximately 10 years old. Three furnaces and Central Air units are less than 5 years old and water heaters are less than 2 years old. Appliances in occupied units stay. Detached garage for storage. Tenant occupied so 24 hour notice is required. Come take your tour today!

19. 2025-11-21
    status Pending 610-char remark

    Show marketing remark (610 chars)

    INVESTMENT PROPERTY! This is a great opportunity to expand your rental portfolio with this well cared for 4 unit property in Minonk. Each unit is 2 bedroom, 1 bath. Laundry on premises. Seller has remodeled the 3 occupied units as they became open over the last 7 years. Unit D is vacant and does need some minor remodeling. The roof is approximately 10 years old. Three furnaces and Central Air units are less than 5 years old and water heaters are less than 2 years old. Appliances in occupied units stay. Detached garage for storage. Tenant occupied so 24 hour notice is required. Come take your tour today!

20. 2025-06-16
    status Active 610-char remark

    Show marketing remark (610 chars)

    INVESTMENT PROPERTY! This is a great opportunity to expand your rental portfolio with this well cared for 4 unit property in Minonk. Each unit is 2 bedroom, 1 bath. Laundry on premises. Seller has remodeled the 3 occupied units as they became open over the last 7 years. Unit D is vacant and does need some minor remodeling. The roof is approximately 10 years old. Three furnaces and Central Air units are less than 5 years old and water heaters are less than 2 years old. Appliances in occupied units stay. Detached garage for storage. Tenant occupied so 24 hour notice is required. Come take your tour today!

21. 2025-06-16
    historical 610-char remark

    Show marketing remark (610 chars)

    INVESTMENT PROPERTY! This is a great opportunity to expand your rental portfolio with this well cared for 4 unit property in Minonk. Each unit is 2 bedroom, 1 bath. Laundry on premises. Seller has remodeled the 3 occupied units as they became open over the last 7 years. Unit D is vacant and does need some minor remodeling. The roof is approximately 10 years old. Three furnaces and Central Air units are less than 5 years old and water heaters are less than 2 years old. Appliances in occupied units stay. Detached garage for storage. Tenant occupied so 24 hour notice is required. Come take your tour today!

22. 2025-04-28
    price $215,000 610-char remark

    Show marketing remark (610 chars)

    INVESTMENT PROPERTY! This is a great opportunity to expand your rental portfolio with this well cared for 4 unit property in Minonk. Each unit is 2 bedroom, 1 bath. Laundry on premises. Seller has remodeled the 3 occupied units as they became open over the last 7 years. Unit D is vacant and does need some minor remodeling. The roof is approximately 10 years old. Three furnaces and Central Air units are less than 5 years old and water heaters are less than 2 years old. Appliances in occupied units stay. Detached garage for storage. Tenant occupied so 24 hour notice is required. Come take your tour today!

23. 2025-01-30
    price $250,000 610-char remark

    Show marketing remark (610 chars)

    INVESTMENT PROPERTY! This is a great opportunity to expand your rental portfolio with this well cared for 4 unit property in Minonk. Each unit is 2 bedroom, 1 bath. Laundry on premises. Seller has remodeled the 3 occupied units as they became open over the last 7 years. Unit D is vacant and does need some minor remodeling. The roof is approximately 10 years old. Three furnaces and Central Air units are less than 5 years old and water heaters are less than 2 years old. Appliances in occupied units stay. Detached garage for storage. Tenant occupied so 24 hour notice is required. Come take your tour today!

24. 2024-11-13
    price $275,000 610-char remark

    Show marketing remark (610 chars)

    INVESTMENT PROPERTY! This is a great opportunity to expand your rental portfolio with this well cared for 4 unit property in Minonk. Each unit is 2 bedroom, 1 bath. Laundry on premises. Seller has remodeled the 3 occupied units as they became open over the last 7 years. Unit D is vacant and does need some minor remodeling. The roof is approximately 10 years old. Three furnaces and Central Air units are less than 5 years old and water heaters are less than 2 years old. Appliances in occupied units stay. Detached garage for storage. Tenant occupied so 24 hour notice is required. Come take your tour today!

25. 2024-10-28
    listed $300,000 Active 610-char remark

    Show marketing remark (610 chars)

    INVESTMENT PROPERTY! This is a great opportunity to expand your rental portfolio with this well cared for 4 unit property in Minonk. Each unit is 2 bedroom, 1 bath. Laundry on premises. Seller has remodeled the 3 occupied units as they became open over the last 7 years. Unit D is vacant and does need some minor remodeling. The roof is approximately 10 years old. Three furnaces and Central Air units are less than 5 years old and water heaters are less than 2 years old. Appliances in occupied units stay. Detached garage for storage. Tenant occupied so 24 hour notice is required. Come take your tour today!

26. 2021-08-06
    historical
27. 2021-08-06
    historical
28. 2021-08-06
    historical

ⓘ 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 ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $39,816
• − Mortgage interest: −$7,842
• − Property taxes: −$2,100
• − Insurance: −$700
• − Repairs & maintenance: −$3,185
• − Management: −$3,185
• − Depreciation: −$4,073
• Taxable income: $18,731
• Est. tax owed @ 24.0%: −$4,495
• After-tax cash flow: $15,349/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 · 12 photos

Average 55/100 Moderate rehab

A moderate rehab project is needed to bring this 4-unit property up to a good condition, with focus on interior and exterior painting, carpet replacement, and organization.

Repairs flagged

• Minor Kitchen cabinets — Some wear
• Minor Bathroom fixtures — Some wear
• Minor Exterior paint — Some wear

Value-add opportunities

• Both Paint interior and exterior — Enhances curb appeal and interior aesthetics
• Both Replace worn carpet — Improves comfort and appearance
• Both Organize and declutter kitchen and bathrooms — Creates a more inviting and functional space

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Some wear	Minor	$500–3,000
Bathroom fixtures · Some wear	Minor	$500–3,000
Exterior paint · Some wear	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Both Paint interior and exterior — Enhances curb appeal and interior aesthetics ↑
• Both Replace worn carpet — Improves comfort and appearance ↑
• Both Organize and declutter kitchen and bathrooms — Creates a more inviting and functional space ↑

ⓘ 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: Fieldcrest CUSD 6
• NCES district ID: 1715100
• Math proficiency: 18% ▲ 2.00%
• Reading proficiency: 29% ▼ -5.00%
• Median HH income: $50,151
• Composite: 20.79/100
• National rank: #8512
• State rank: #361 of 620 in IL

Livability — Minonk

• Score: 66/100
• State rank: #579
• US rank: #12111

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Minonk, IL
• Population (ZIP): 2,240

Population outlook (Woodford County) Hauer SSP2

• Today (2025): 39,897 people
• By 2030: 40,038 · +0.4%
• By 2040: 39,745 · -0.4%
• By 2050: 38,585 · -3.3%
• By 2075: 34,769 · -12.9%
• By 2100: 27,616 · -30.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Hispanic / Latino 2% Two or more races 2%
• Common ancestry: Romanian 11% Lithuanian 3% Italian 3%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Woodford

• 2024 margin: Solid R (+42.0) · D 28.2% · R 70.3% · Other 1.5%
• 2008→2024 swing: -15.4pp toward R · 2008: -26.6pp · 2024: -42.0pp
• All cycles: 2024: R+42.0 2020: R+40.2 2016: R+41.8 2012: R+39.2 2008: R+26.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -93.86%
• Current HPI: 120.9801
• 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

-51.5% since first listed

13 events — show timeline

• 2026-02-20 Price Changed $145,500 RMLSA as Distributed by MLS Grid
• 2025-12-16 Relisted — RMLSA as Distributed by MLS Grid
• 2025-12-16 Price Changed $160,000 RMLSA as Distributed by MLS Grid
• 2025-11-21 Pending — RMLSA as Distributed by MLS Grid
• 2025-06-16 Relisted — RMLSA as Distributed by MLS Grid
• 2025-06-16 Listing Removed — RMLSA as Distributed by MLS Grid
• 2025-04-28 Price Changed $215,000 RMLSA as Distributed by MLS Grid
• 2025-01-30 Price Changed $250,000 RMLSA as Distributed by MLS Grid
• 2024-11-13 Price Changed $275,000 RMLSA as Distributed by MLS Grid
• 2024-10-28 Listed $300,000 RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid