3100 N 17060 Rd E · Schneider, IN 60954

$40,000

2 bd · 1.5 ba · 1,555 sqft · SingleFamily · 140 Days on market

Built 1952 0.75 ac lot $26/sqft · 76% below area ↓ 32% 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 +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 2 bedroom house sits on 6 wooded lots at the end of the street. Fenced backyard. Home has an Attached 2 car garage W/workshop area. If your looking for a project---this is the place! Sold as is. Seller financing available. Second floor was used for storage but could be converted to 2/3 more bedrooms.

Key facts

• Attached garage
• Wooded lots
• Fenced backyard

Tags

• FENCED BACKYARD
• ATTACHED GARAGE
• WOODED LOTS

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $190 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Recommended offer: $35k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#526 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D+, employment D+, schools F.
• Momence CUSD 1 (town): math 11% / reading 13% proficiency, ranked #544 of 620 in IL (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 145 units permitted in Kankakee County in 2024 (5 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $277 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Kankakee County population projected at -19% 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 $11k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 140 days — a 12% lower offer ($35k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y ago; this cycle's ask has dropped $9k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $35,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 140 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 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?
7. Crime grade is D 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: 2.83% ✓
• Cap rate: 24.79%
• Cash-on-cash: 66.07%
• DSCR: 3.94
• GRM: 2.9

CMA / ARV

• ARV (median comp): $164,045
• List price: $40,000
• Delta: -75.62%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3205 N 17120 Rd E	0.13mi	3/1.0 (+1)	1,574 (+1%)	1mo	$120,000	$76	84

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: 13.1%
• Equity multiple: 1.53×
• Total profit: $5,903
• Equity at exit: $5,964

10-year hold

• IRR: 22.4%
• Equity multiple: 2.95×
• Total profit: $21,863
• Equity at exit: $3,458

Cash invested: $11,200 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Indiana: 90 Strongly Landlord-Friendly · R+11
• County: — inherits STATE
• City: — inherits STATE

10-day pay-or-quit; landlord-favorable; preempted.

Methodology + full state rankings →

ZIP-level market 60954

• Home prices YoY: -15.6%
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,130 medium
• Mortgage (P&I): −$210
• Tax est. 1.5%: −$50 /mo · $600/yr
• Insurance: −$17
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$237
• Net cashflow: $190

Break-even live

Break-even rent $890

Max offer price $40,000

Occupancy floor 78%

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-13
   statusdays on market $40,000 Pending 140 DOM
2. 2026-06-03
   days on market $40,000 Contingent - Continue to Show 163 DOM
3. 2026-06-02
   days on market $40,000 Contingent - Continue to Show 162 DOM
4. 2026-06-01
   days on market $40,000 Contingent - Continue to Show 161 DOM
5. 2026-05-31
   days on market $40,000 Contingent - Continue to Show 160 DOM
6. 2026-05-30
   days on market $40,000 Contingent - Continue to Show 159 DOM
7. 2026-05-12
   historical Contingent - Continue to Show 306-char remark

   Show marketing remark (306 chars)

   This 2 bedroom house sits on 6 wooded lots at the end of the street. Fenced backyard. Home has an Attached 2 car garage W/workshop area. If your looking for a project---this is the place! Sold as is. Seller financing available. Second floor was used for storage but could be converted to 2/3 more bedrooms.

8. 2026-03-22
   price $40,000 306-char remark

   Show marketing remark (306 chars)

   This 2 bedroom house sits on 6 wooded lots at the end of the street. Fenced backyard. Home has an Attached 2 car garage W/workshop area. If your looking for a project---this is the place! Sold as is. Seller financing available. Second floor was used for storage but could be converted to 2/3 more bedrooms.

9. 2025-12-22
   listed $49,000 Active 306-char remark

   Show marketing remark (306 chars)

   This 2 bedroom house sits on 6 wooded lots at the end of the street. Fenced backyard. Home has an Attached 2 car garage W/workshop area. If your looking for a project---this is the place! Sold as is. Seller financing available. Second floor was used for storage but could be converted to 2/3 more bedrooms.

10. 2016-12-12
    soldstatus $43,000
11. 2016-12-08
    soldstatus $43,000 Closed Sale 630-char remark

    Show marketing remark (630 chars)

    Enjoy boating, fishing, hunting in the peaceful woods & the channel which flows to the Kankakee River. House sits on 6 wooded lots at the end of the street. Eat in Kitchen w/builtin china cab w/ lg pantry. Separate dining rm with closet. Family room has Patio with perennial flower garden. Fenced backyard. Updated septic, insulation, light fixtures roof over garage & jacuzzi tub. 5 lots across the street are also available. Attached 2 car garage has a nice workshop area. Disability Access on first floor. No FHA,VA, USDA. Sold as is. Second floor has been used for storage but could be converted to 2/3 more bedrooms.

12. 2016-12-06
    status Pending 630-char remark

    Show marketing remark (630 chars)

    Enjoy boating, fishing, hunting in the peaceful woods & the channel which flows to the Kankakee River. House sits on 6 wooded lots at the end of the street. Eat in Kitchen w/builtin china cab w/ lg pantry. Separate dining rm with closet. Family room has Patio with perennial flower garden. Fenced backyard. Updated septic, insulation, light fixtures roof over garage & jacuzzi tub. 5 lots across the street are also available. Attached 2 car garage has a nice workshop area. Disability Access on first floor. No FHA,VA, USDA. Sold as is. Second floor has been used for storage but could be converted to 2/3 more bedrooms.

13. 2016-09-14
    historical Contingent 630-char remark

    Show marketing remark (630 chars)

    Enjoy boating, fishing, hunting in the peaceful woods & the channel which flows to the Kankakee River. House sits on 6 wooded lots at the end of the street. Eat in Kitchen w/builtin china cab w/ lg pantry. Separate dining rm with closet. Family room has Patio with perennial flower garden. Fenced backyard. Updated septic, insulation, light fixtures roof over garage & jacuzzi tub. 5 lots across the street are also available. Attached 2 car garage has a nice workshop area. Disability Access on first floor. No FHA,VA, USDA. Sold as is. Second floor has been used for storage but could be converted to 2/3 more bedrooms.

14. 2016-03-14
    listed $58,900 New 630-char remark

    Show marketing remark (630 chars)

    Enjoy boating, fishing, hunting in the peaceful woods & the channel which flows to the Kankakee River. House sits on 6 wooded lots at the end of the street. Eat in Kitchen w/builtin china cab w/ lg pantry. Separate dining rm with closet. Family room has Patio with perennial flower garden. Fenced backyard. Updated septic, insulation, light fixtures roof over garage & jacuzzi tub. 5 lots across the street are also available. Attached 2 car garage has a nice workshop area. Disability Access on first floor. No FHA,VA, USDA. Sold as is. Second floor has been used for storage but could be converted to 2/3 more bedrooms.

15. 2015-12-08
    historical
16. 2015-09-10
    price
17. 2015-06-08
    listed New

ⓘ 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 5/10 Major FEMA zone AE · 54% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥103°F today · 15 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: $13,565
• − Mortgage interest: −$2,241
• − Property taxes: −$600
• − Insurance: −$5,318
• − Repairs & maintenance: −$1,085
• − Management: −$1,085
• − Depreciation: −$1,164
• Taxable income: $2,072
• Est. tax owed @ 24.0%: −$497
• After-tax cash flow: $1,784/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: Momence CUSD 1
• NCES district ID: 1726430
• Math proficiency: 11% ▼ -7.00%
• Reading proficiency: 13% ▼ -9.00%
• Median HH income: $50,724
• Composite: 11.34/100
• National rank: #9711
• State rank: #544 of 620 in IL

Livability — Schneider

• Score: 60/100
• State rank: #526
• US rank: #18883

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 5,586

Population outlook (Kankakee County) Hauer SSP2

• Today (2025): 105,479 people
• By 2030: 101,792 · -3.5%
• By 2040: 93,479 · -11.4%
• By 2050: 85,061 · -19.4%
• By 2075: 67,314 · -36.2%
• By 2100: 52,439 · -50.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Hispanic / Latino 16% Two or more races 6% Black 2% Native American 2%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Romanian 7% Lithuanian 6% Iranian 3%
• Foreign-born: 4% · Canada
• Languages at home: 89% English-only · Spanish 10% German/W. Germanic 1%

Political lean MEDSL · Kankakee

• 2024 margin: Strong R (+20.8) · D 38.7% · R 59.5% · Other 1.8%
• 2008→2024 swing: -25.4pp toward R · 2008: 4.6pp · 2024: -20.8pp
• All cycles: 2024: R+20.8 2020: R+16.5 2016: R+13.3 2012: R+3.4 2008: D+4.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -34.19%
• Current HPI: 185.1118
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.90%
• F500 in state: 18

Industry mix (Fortune 500 HQ in IN)

Industry	F500 HQs	Revenue
▸Industrial Machinery	2	$37B
▸Healthcare	1	$177B
▸Pharmaceuticals	1	$45B
▸Metals / Steel	1	$18B
▸Agriculture	1	$17B
▸Packaging	1	$12B

Price history

-32.1% since first listed

11 events — show timeline

• 2026-05-12 Contingent — MRED as Distributed by MLS Grid
• 2026-03-22 Price Changed $40,000 MRED as Distributed by MLS Grid
• 2025-12-22 Listed $49,000 MRED as Distributed by MLS Grid
• 2016-12-12 Sold (Public Records) $43,000 Public Records
• 2016-12-08 Sold (MLS) $43,000 MRED as Distributed by MLS Grid
• 2016-12-06 Pending — MRED as Distributed by MLS Grid
• 2016-09-14 Contingent — MRED as Distributed by MLS Grid
• 2016-03-14 Listed $58,900 MRED as Distributed by MLS Grid
• 2015-12-08 Listing Removed — MRED as Distributed by MLS Grid
• 2015-09-10 Price Changed — MRED as Distributed by MLS Grid
• 2015-06-08 Listed — MRED as Distributed by MLS Grid

Property tax history

+6.8%/yr

Latest (2024): $2,033 · +64.9% YoY. Source: county tax records.