202 5th St · Sherrard, IL 61281

$109,000

4 bd · 2.0 ba · 2,884 sqft · SingleFamily · 13 Days on market

Built 1923 0.35 ac lot

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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 +25.7/30.0
• DSCR +8.6/10.0
• 1% rule +7.6/10.0
• Appreciation +7.6/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Sherrard Tiger fans, this is the opportunity you've been waiting on! Brand new roof on the house & garage this year! This four bedroom home has tons of potential & is ready for you to bring your vision! There is two full bathrooms, one bedroom on the main level & three upstairs. You have a great yard with shed & a detached two car garage. Turn the walk up attic into additional living space! This home was well loved for generations, the property is apart of an estate & selling strictly as is, where is. Buyers to have any inspections for their knowledge only. Appliances in home to remain. Main level washer & dryer connections. All measurements & infor

Key facts

• Walk up attic
• Great yard
• New roof

Tags

• NEW ROOF
• GREAT YARD
• DETACHED GARAGE
• WALK UP ATTIC

Property features AI

Finance

• Other: Property type listed as detached single; 2 stories
• HOA & community: No master association fee required

Exterior

• Parking: Detached garage with space for 2 cars; Total parking for 2 vehicles
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; 2-story layout; Home is over 100 years old; Built before 1978
• Construction: Vinyl siding; Asphalt roof; Brick/mortar foundation; Approximately 2,175 finished living area (total finished/unfinshed 2,884; unfinished basement approx. 709)
• Exterior features: Deck; Screened porch; Level lot with dimensions 125 x 132 x 125 x 132

Interior

• Kitchen: Kitchen with pantry-closet (approx. 12 x 12); Range
• Bedrooms: 4 bedrooms; Master bedroom on the main level (18 x 14); Three additional bedrooms on the second level (9 x 13; 9 x 10; 9 x 10)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas forced air heating; Central air conditioning
• Interior features: 9 total rooms; Full, unfinished attic; Unfinished full basement
• Laundry & utility: Main-level laundry room (approx. 10 x 9); Washer and dryer included

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $109k.

Deal economics

• At list price, monthly cash flow is $262 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $109k).

Location & tenants

• Location reads 65/100 on livability (#604 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A-; Watch: crime C-, amenities F, commute F.
• Sherrard CUSD 200 (rural): math 29% / reading 30% proficiency, ranked #240 of 620 in IL (top 39%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Sherrard Elementary School (math 37% / reading 42%, grade F, #392 of 2,056 statewide, top 21%, 237 students, 0% FRL); Matherville Intermediate School (math 27% / reading 22%, grade F, #332 of 665 statewide, top 55%, 190 students, 0% FRL); Sherrard High School (math 27% / reading 27%, grade F, #218 of 693 statewide, top 35%, 451 students, 0% FRL) — zoned schools average 0% FRL vs 25% district-wide (25 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 29 active listings in the ZIP; 15 units permitted in Mercer County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($754 loan paydown + $6k appreciation (5.2% local appreciation)).
• Mercer County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.2% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $109,000

Questions for the listing agent

1. Built in 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.26% ✓
• Cap rate: 9.18%
• Cash-on-cash: 10.30%
• DSCR: 1.46
• GRM: 6.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.23% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.2%
• Equity multiple: 2.42×
• Total profit: $43,288
• Equity at exit: $63,277

10-year hold

• IRR: 21.6%
• Equity multiple: 4.80×
• Total profit: $115,938
• Equity at exit: $110,476

Cash invested: $30,520 (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 61281

• Home prices YoY: 2.7%
• Active inventory: 29
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,377 medium
• Mortgage (P&I): −$572
• Tax from tax record: −$209 /mo · $2,510/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $262

Break-even live

Break-even rent $1,046

Max offer price $109,000

Occupancy floor 76%

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: $27,250
• Closing costs: $3,270
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-18
   days on market $109,000 Active 13 DOM
2. 2026-06-17
   days on market $109,000 Active 12 DOM
3. 2026-06-16
   days on market $109,000 Active 11 DOM
4. 2026-06-15
   days on market $109,000 Active 10 DOM
5. 2026-06-13
   days on market $109,000 Active 8 DOM
6. 2026-06-12
   days on market $109,000 Active 7 DOM
7. 2026-06-09
   days on market $109,000 Active 4 DOM
8. 2026-06-08
   days on market $109,000 Active 3 DOM
9. 2026-06-07
   days on market $109,000 Active 2 DOM
10. 2026-06-07
    remarks 671-char remark
11. 2026-06-07
    listed $109,000 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: $2,510 · $209/mo
• Projected year-2 tax: $2,510 · $209/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $16,528
• − Mortgage interest: −$6,106
• − Property taxes: −$2,510
• − Insurance: −$545
• − Repairs & maintenance: −$1,322
• − Management: −$1,322
• − Depreciation: −$3,171
• Taxable income: $1,552
• Est. tax owed @ 24.0%: −$372
• After-tax cash flow: $2,770/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: Sherrard CUSD 200
• NCES district ID: 1736180
• Math proficiency: 29% ▼ -9.00%
• Reading proficiency: 30% ▼ -16.00%
• Median HH income: $60,194
• Composite: 26.77/100
• National rank: #7129
• State rank: #240 of 620 in IL

Livability — Sherrard

• Score: 65/100
• State rank: #604
• US rank: #12488

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sherrard, IL
• Population (ZIP): 2,610

Population outlook (Mercer County) Hauer SSP2

• Today (2025): 14,595 people
• By 2030: 13,846 · -5.1%
• By 2040: 12,335 · -15.5%
• By 2050: 10,893 · -25.4%
• By 2075: 8,238 · -43.6%
• By 2100: 6,111 · -58.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Hispanic / Latino 4% Two or more races 2%
• Common ancestry: Serbian 5% Iranian 4% Slovak 3%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Mercer

• 2024 margin: Strong R (+27.1) · D 35.4% · R 62.5% · Other 2.2%
• 2008→2024 swing: -39.0pp toward R · 2008: 11.9pp · 2024: -27.1pp
• All cycles: 2024: R+27.1 2020: R+24.0 2016: R+20.7 2012: D+7.4 2008: D+11.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.23%
• Current HPI: 201.0103
• 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

1 event — show timeline

• 2026-06-05 Listed $109,000 MRED as Distributed by MLS Grid

Property tax history

+12.0%/yr

Latest (2024): $2,510 · +282.8% YoY. Source: county tax records.