401 S 3rd Ave · Windsor, IL 61465

$67,500

4 bd · 1.0 ba · 1,322 sqft · Other · 41 Days on market

Built 1893 0.32 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +6.9/10.0
• Livability +3.1/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

EXTREMELY AFFORDABLE - 4 Bedroom on DOUBLE CORNER LOT - needs some TLC, but can move in & do a little at a time. 1st FLOOR LAUNDRY. In 2024 Roof, 2020: - Gutted to studs: -all new electrical through entire home w/ 100 amp breaker box; flooring; window/ siding aprox. 25 yrs. ; water heater w/ power vent - 2021. Older furnace. (since 2020 a tenant resided in home); Boundaries - west to alley; South to telephone box (on west side). It is difficult to find a home in the $70's in today's market. LET CONSIDER THIS HOME!! - Sold AS IS; appliances & shed remain

Key facts

• 0.32 acre lot
• Built 1893
• Listed 41 days

Property features AI

Exterior

• Parking: Gravel parking; no garage
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; 1.5-story; Over 100 years old; Built before 1978
• Construction: Vinyl siding and frame construction; Brick/mortar foundation
• Exterior features: Deck; Corner, level lot (115 x 120)

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 4 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Partial basement with egress window

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath other listed at $68k.

Deal economics

• At list price, monthly cash flow is $467 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $68k).
• Recommended offer: $65k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#847 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, employment D-.
• 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 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: 7 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 $3k of equity ($467 loan paydown + $3k appreciation (3.8% 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 (3.8% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($65k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 11y ago; this cycle's ask is 353% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $12k; list at $68k implies a 440% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1893 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $65,475 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1893 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.82% ✓
• Cap rate: 14.59%
• Cash-on-cash: 29.62%
• DSCR: 2.32
• GRM: 4.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.81% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 36.9%
• Equity multiple: 3.16×
• Total profit: $40,818
• Equity at exit: $33,470

10-year hold

• IRR: 36.2%
• Equity multiple: 6.30×
• Total profit: $100,225
• Equity at exit: $54,150

Cash invested: $18,900 (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 61465

• Home prices YoY: 3.6%
• Active inventory: 7
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,225 medium
• Mortgage (P&I): −$354
• Tax from tax record: −$119 /mo · $1,433/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$257
• Net cashflow: $467

Break-even live

Break-even rent $635

Max offer price $67,500

Occupancy floor 57%

Sensitivity live

Price	-10% $505	-5% $486	+0% $467	+5% $447	+10% $428
Rent	-10% $370	-5% $418	+0% $467	+5% $515	+10% $563
Rate	-1.0pp $501	-0.5pp $484	base $467	+0.5pp $449	+1.0pp $431

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: $16,875
• Closing costs: $2,025
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-05-22
   status Active
2. 2026-01-30
   historical
3. 2026-01-16
   status Active
4. 2026-01-14
   historical
5. 2026-01-08
   status Active
6. 2026-01-06
   historical
7. 2026-01-05
   historical
8. 2025-10-27
   price
9. 2025-07-30
   listed Active
10. 2021-08-06
    historical
11. 2015-04-21
    soldstatus $12,500
12. 2015-04-21
    soldstatus $12,500
13. 2015-04-21
    listed $14,900
14. 2015-04-21
    listed $14,900

ⓘ 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: $1,433 · $119/mo
• Projected year-2 tax: $1,482 · $124/mo
• Expected delta: +$50/yr (+$4/mo · 3.5%)

ⓘ 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 · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,704
• − Mortgage interest: −$3,781
• − Property taxes: −$1,433
• − Insurance: −$338
• − Repairs & maintenance: −$1,176
• − Management: −$1,176
• − Depreciation: −$1,964
• Taxable income: $4,837
• Est. tax owed @ 24.0%: −$1,161
• After-tax cash flow: $4,438/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 — Windsor

• Score: 62/100
• State rank: #847
• US rank: #16662

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Windsor, IL
• Population (ZIP): 1,251

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 (89%)
• Race & ethnicity: White 89% Two or more races 8% Hispanic / Latino 4%
• Common ancestry: English 5% Serbian 1% Portuguese 1%
• Foreign-born: 0%
• Languages at home: 98% English-only · Other Asian/Pacific 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: ▲ 3.81%
• Current HPI: 108.3507
• 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

+19.2% since first listed

14 events — show timeline

• 2026-05-22 Relisted — MRED as Distributed by MLS Grid
• 2026-01-30 Listing Removed — MRED as Distributed by MLS Grid
• 2026-01-16 Relisted — MRED as Distributed by MLS Grid
• 2026-01-14 Listing Removed — MRED as Distributed by MLS Grid
• 2026-01-08 Relisted — MRED as Distributed by MLS Grid
• 2026-01-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2026-01-05 Listing Removed — MRED as Distributed by MLS Grid
• 2025-10-27 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-07-30 Listed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2015-04-21 Listed $14,900 RMLSA as Distributed by MLS Grid
• 2015-04-21 Listed $14,900 MRED as Distributed by MLS Grid
• 2015-04-21 Sold (MLS) $12,500 RMLSA as Distributed by MLS Grid
• 2015-04-21 Sold (MLS) $12,500 MRED as Distributed by MLS Grid

Property tax history

+2.7%/yr

Latest (2024): $1,433 · +9.8% YoY. Source: county tax records.