403 W Kelsey St · Bloomington, IL 61701

$144,900

3 bd · 1.0 ba · 2,468 sqft · SingleFamily · 15 Days on market

Built 1910 5,500 sqft lot Est $178k · 18% under ↓ 3% since listing

---

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
• Rent growth +3.9/5.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks

Fantastic investment opportunity! This 1.5 Story home has so much potential . Upon entry you will find a super cozy Enclosed Porch ~ perfect for peaceful evenings or morning coffee relaxation time. The Main Floor has a good sized Living Room, Open Dining , Large expansive Kitchen with plentiful Counters and Cabinetry , Full Bath, and 2 Main Floor Bedrooms. The Upper level has the 3rd Bedroom plus an additional "other room" that would make a fabulous play room or office . The Lower Level has 3 finished areas, a Family Room currently utilized as Train Room Central , an Office Area, a Storage Area , and Large Laundry area. House Roof has been recently replaced .

Key facts

• Large laundry area
• Family room
• Office area

Tags

• ENCLOSED PORCH
• LARGE EXPANSIVE KITCHEN
• FAMILY ROOM
• OFFICE AREA
• STORAGE AREA
• LARGE LAUNDRY AREA

Property features AI

Finance

• HOA & community: No master association fee required

Exterior

• Parking: Detached garage (owned) — 1 garage space, 1 total parking space
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; 1.5-story design; Fee simple ownership; Over 100 years old; Not rebuilt or recently rehabbed
• Construction: Wood siding; Asphalt roof; Below-grade finished area and additional unfinished basement space; Built before 1978
• Exterior features: Lot dimensions approximately 110 x 50; Lot less than 0.25 acre; School bus service

Interior

• Kitchen: Eating area / table space; Range; Refrigerator
• Bedrooms: 3 bedrooms total; Master bedroom on main level; Additional bedrooms on main and second levels
• Flooring: Carpet in living room
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: First-floor bedroom; First-floor full bathroom; Separate dining room; Partially finished, crawl space and full basement; Estimated total finished living area about 2,310 (includes below-grade finished area)
• Laundry & utility: Laundry room in basement; Washer and dryer included

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $711 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $143k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.2% vs local median 5.4% in Bloomington — 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 77/100 on livability (#161 in IL, #2,987 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, commute F.
• Bloomington SD 87 (urban): math 14% / reading 19% proficiency, ranked #476 of 620 in IL (top 77%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Bent Elem School (math 8% / reading 8%, grade F, #1,627 of 2,056 statewide, top 81%, 374 students, 0% FRL); Bloomington Jr High School (math 12% / reading 19%, grade F, #493 of 665 statewide, top 75%, 1,006 students, 0% FRL); Bloomington High School (math 27% / reading 33%, grade F, #179 of 693 statewide, top 27%, 1,503 students, 0% FRL) — zoned schools average 0% FRL vs 51% district-wide (51 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+5.6%/yr); 92 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 247 units permitted in McLean County in 2024 (54 in 5+ unit buildings).
• At $2,217/mo this rent would consume 47% of the median local household income ($57k/yr) (locally 1493% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 5.6% rent growth), your $41k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($143k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $142,726 (1.5% below list)

Questions for the listing agent

1. Built in 1910 — 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: 1.53% ✓
• Cap rate: 12.18%
• Cash-on-cash: 21.04%
• DSCR: 1.94
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $177,696
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1002 N Roosevelt Ave	0.42mi	4/2.0 (+1)	2,222 (-10%)	4mo	$160,000	$72	51
1205 N Clinton Blvd	0.74mi	3/1.5	2,520 (+2%)	11mo	$210,000	$83	51
1216 N Oak St	0.29mi	4/2.0 (+1)	2,754 (+12%)	11mo	$185,000	$67	49
413 Phoenix Ave	0.55mi	3/2.0	2,682 (+9%)	8mo	$172,000	$64	49
601 W Chestnut St	0.61mi	4/2.0 (+1)	2,400 (-3%)	13mo	$169,000	$70	48
1411 Fell Ave	0.59mi	3/1.0	2,160 (-12%)	7mo	$250,000	$116	45
910 N Madison St	0.50mi	3/2.0	2,125 (-14%)	5mo	$70,000	$33	45
502 E Emerson St	0.58mi	2/1.0 (-1)	2,288 (-7%)	13mo	$155,500	$68	45
1408 Fell Ave	0.56mi	4/2.0 (+1)	2,808 (+14%)	1mo	$300,000	$107	41
1404 Fell Ave	0.56mi	3/2.0	2,130 (-14%)	10mo	$215,000	$101	38
602 N Lee St	0.75mi	4/1.0 (+1)	2,700 (+9%)	9mo	$155,000	$57	37
711 Ohara St	0.51mi	3/2.0	2,100 (-15%)	14mo	$225,000	$107	36

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 · 5.6% rent growth · sell at horizon

5-year hold

• IRR: 16.5%
• Equity multiple: 1.69×
• Total profit: $27,830
• Equity at exit: $21,605

10-year hold

• IRR: 26.9%
• Equity multiple: 3.68×
• Total profit: $108,556
• Equity at exit: $12,528

Cash invested: $40,572 (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 61701

• Rents YoY: 5.6%
• Active inventory: 92
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $2,217 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$220 /mo · $2,639/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$466
• Net cashflow: $711

Break-even live

Break-even rent $1,317

Max offer price $144,900

Occupancy floor 63%

Sensitivity live

Price	-10% $793	-5% $752	+0% $711	+5% $670	+10% $629
Rent	-10% $536	-5% $624	+0% $711	+5% $799	+10% $886
Rate	-1.0pp $784	-0.5pp $748	base $711	+0.5pp $674	+1.0pp $636

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: $36,225
• Closing costs: $4,347
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1102 N Madison St Bloomington, IL	3.0	2.0	1603	$1,950	$1.22	22d	1	0.36mi
501 E Emerson St Bloomington, IL	3.0	1.5	2825	$2,500	$0.88	45d	1	0.56mi
1 Uptown Cir Normal, IL	1.0–3.0	1.0–2.0	1564	$4,750	$3.04	45d	4	1.22mi

Listing history 10 events

1. 2026-06-07
   statusdays on market $144,900 Pending 15 DOM
2. 2026-06-03
   days on market $144,900 Active 13 DOM
3. 2026-06-02
   days on market $144,900 Active 12 DOM
4. 2026-06-01
   days on market $144,900 Active 11 DOM
5. 2026-05-31
   days on market $144,900 Active 10 DOM
6. 2026-05-30
   days on market $144,900 Active 9 DOM
7. 2026-05-25
   status Active
8. 2026-05-25
   price $144,900
9. 2026-04-29
   status Pending
10. 2026-04-26
    listed $149,900 Active

ⓘ 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: $2,639 · $220/mo
• Projected year-2 tax: $2,964 · $247/mo
• Expected delta: +$325/yr (+$27/mo · 12.3%)

ⓘ 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 ≥105°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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,605
• − Mortgage interest: −$8,117
• − Property taxes: −$2,639
• − Insurance: −$724
• − Repairs & maintenance: −$2,128
• − Management: −$2,128
• − Depreciation: −$4,215
• Taxable income: $6,652
• Est. tax owed @ 24.0%: −$1,597
• After-tax cash flow: $6,939/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: Bloomington SD 87
• NCES district ID: 1706480
• Math proficiency: 14% ▼ -7.00%
• Reading proficiency: 19% ▼ -7.00%
• Median HH income: $50,544
• Composite: 15.05/100
• National rank: #9351
• State rank: #476 of 620 in IL

Livability — Bloomington

• Score: 77/100
• State rank: #161
• US rank: #2987

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bloomington, IL
• County: McLean County · 126,490 people
• City population: 72,415
• Metro: Bloomington, IL
• Population (ZIP): 35,136
• Household income: $57,130
• Rent vs Own: 43.3% rent · 56.7% own
• Severe rent burden: 1493.0

Population outlook (McLean County) Hauer SSP2

• Today (2025): 176,468 people
• By 2030: 178,002 · +0.9%
• By 2040: 178,592 · +1.2%
• By 2050: 177,090 · +0.4%
• By 2075: 173,224 · -1.8%
• By 2100: 158,425 · -10.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Black 13% Two or more races 9% Hispanic / Latino 9% Asian 3%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Romanian 3% Slovak 2% Italian 1%
• Foreign-born: 6% · Canada, Philippines, Vietnam
• Languages at home: 91% English-only · Spanish 5% Other Asian/Pacific 1% Other Indo-European 1%

Political lean MEDSL · McLean

• 2024 margin: Toss-up / Even · D 51.6% · R 46.8% · Other 1.6%
• 2008→2024 swing: +3.7pp toward D · 2008: 1.2pp · 2024: 4.9pp
• All cycles: 2024: D+4.9 2020: D+3.9 2016: R+1.5 2012: R+11.1 2008: D+1.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -115.13%
• Current HPI: 172.3659
• Rent YoY: ▲ 5.60%
• Metro: Bloomington, IL
• 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

-3.3% since first listed

4 events — show timeline

• 2026-05-25 Relisted — MRED as Distributed by MLS Grid
• 2026-05-25 Price Changed $144,900 MRED as Distributed by MLS Grid
• 2026-04-29 Pending — MRED as Distributed by MLS Grid
• 2026-04-26 Listed $149,900 MRED as Distributed by MLS Grid

Property tax history

+2.2%/yr

Latest (2023): $2,639 · +1.4% YoY. Source: county tax records.