745 E Oak St · Watseka, IL 60970

$59,900

2 bd · 1.0 ba · 850 sqft · SingleFamily · 103 Days on market

Built 1947 7,405 sqft lot $70/sqft · 6% below area Est $63k · 6% under

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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 +29.1/30.0
• DSCR +10.0/10.0
• ARV discount +10.0/15.0
• 1% rule +9.4/10.0
• Appreciation +5.7/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0

Listing remarks MLS

Affordable and move-in ready! This 2-bedroom, 1-bath home in Watseka presents a great opportunity for homeowners or investors alike. Located in Flood Zone X, with no flood insurance required, helping keep monthly costs more affordable. The home offers a functional layout and comes fully equipped with brand new appliances, including washer, dryer, dishwasher, stove, and refrigerator. Additional updates include a new garage door opener (2026). With major improvements already in place and priced to sell, this property delivers comfort, value, and affordability all in one package. Seller will consider creative financing options.

Key facts

• Brand new appliances
• 1 year old roof
• Fully equipped

Tags

• BRAND NEW APPLIANCES
• FULLY EQUIPPED
• 1 YEAR OLD ROOF

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $206 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($862 rent vs $60k).
• Recommended offer: $55k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.4% vs local median 3.5% in Watseka — 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 63/100 on livability (#811 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: schools D, amenities F, commute F.
• Iroquois County CUSD 9 (rural): math 18% / reading 35% proficiency, ranked #316 of 620 in IL (top 51%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 39 active listings in the ZIP; 14 units permitted in Iroquois County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($414 loan paydown + $797 appreciation (1.3% local appreciation)).
• Iroquois County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.3% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 103 days — a 9% lower offer ($55k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 5y ago 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.
• Current owner paid $15k; list at $60k implies a 299% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $54,509 (9.0% below list)

Questions for the listing agent

1. It's been on market 103 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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 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?
7. 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.
8. 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.
9. 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: 1.44% ✓
• Cap rate: 10.43%
• Cash-on-cash: 14.77%
• DSCR: 1.66
• GRM: 5.8

CMA / ARV

• ARV (median comp): $63,408
• List price: $59,900
• Delta: -5.53%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
745 E Oak St	0.00mi	2/1.0	850 (0%)	0mo	$52,000	$61	100
708 E Oak St	0.06mi	2/1.0	816 (-4%)	11mo	$55,250	$68	82
702 E Oak St	0.09mi	3/1.0 (+1)	816 (-4%)	4mo	$43,000	$53	81
525 E Hickory St	0.30mi	2/1.0	804 (-5%)	2mo	$70,000	$87	75
441 E Walnut St	0.36mi	2/1.0	864 (+2%)	8mo	$45,000	$52	74
428 E Cherry St	0.40mi	2/1.0	940 (+11%)	3mo	$28,000	$30	62
323 S 9th St	0.31mi	2/1.0	910 (+7%)	21mo	$49,000	$54	56
225 S Short St	0.32mi	2/1.0	932 (+10%)	15mo	$94,900	$102	56
414 E Hickory St	0.45mi	1/— (-1)	966 (+14%)	8mo	$20,000	$21	44

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.33% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 17.5%
• Equity multiple: 1.91×
• Total profit: $15,292
• Equity at exit: $21,484

10-year hold

• IRR: 20.5%
• Equity multiple: 3.56×
• Total profit: $42,915
• Equity at exit: $29,368

Cash invested: $16,772 (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 60970

• Home prices YoY: 0.9%
• Active inventory: 39
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $862 medium
• Mortgage (P&I): −$314
• Tax from tax record: −$135 /mo · $1,623/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$181
• Net cashflow: $206

Break-even live

Break-even rent $600

Max offer price $59,900

Occupancy floor 71%

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-02
   status $59,900 Pending 103 DOM
2. 2026-06-01
   days on market $59,900 Active 103 DOM
3. 2026-05-31
   days on market $59,900 Active 102 DOM
4. 2026-05-30
   days on market $59,900 Active 101 DOM
5. 2026-05-06
   price $59,900 632-char remark

   Show marketing remark (632 chars)

   Affordable and move-in ready! This 2-bedroom, 1-bath home in Watseka presents a great opportunity for homeowners or investors alike. Located in Flood Zone X, with no flood insurance required, helping keep monthly costs more affordable. The home offers a functional layout and comes fully equipped with brand new appliances, including washer, dryer, dishwasher, stove, and refrigerator. Additional updates include a new garage door opener (2026). With major improvements already in place and priced to sell, this property delivers comfort, value, and affordability all in one package. Seller will consider creative financing options.

6. 2026-05-04
   price $61,900 632-char remark

   Show marketing remark (632 chars)

   Affordable and move-in ready! This 2-bedroom, 1-bath home in Watseka presents a great opportunity for homeowners or investors alike. Located in Flood Zone X, with no flood insurance required, helping keep monthly costs more affordable. The home offers a functional layout and comes fully equipped with brand new appliances, including washer, dryer, dishwasher, stove, and refrigerator. Additional updates include a new garage door opener (2026). With major improvements already in place and priced to sell, this property delivers comfort, value, and affordability all in one package. Seller will consider creative financing options.

7. 2026-03-17
   status Active 632-char remark

   Show marketing remark (632 chars)

   Affordable and move-in ready! This 2-bedroom, 1-bath home in Watseka presents a great opportunity for homeowners or investors alike. Located in Flood Zone X, with no flood insurance required, helping keep monthly costs more affordable. The home offers a functional layout and comes fully equipped with brand new appliances, including washer, dryer, dishwasher, stove, and refrigerator. Additional updates include a new garage door opener (2026). With major improvements already in place and priced to sell, this property delivers comfort, value, and affordability all in one package. Seller will consider creative financing options.

8. 2026-02-23
   historical Contingent - Continue to Show 632-char remark

   Show marketing remark (632 chars)

   Affordable and move-in ready! This 2-bedroom, 1-bath home in Watseka presents a great opportunity for homeowners or investors alike. Located in Flood Zone X, with no flood insurance required, helping keep monthly costs more affordable. The home offers a functional layout and comes fully equipped with brand new appliances, including washer, dryer, dishwasher, stove, and refrigerator. Additional updates include a new garage door opener (2026). With major improvements already in place and priced to sell, this property delivers comfort, value, and affordability all in one package. Seller will consider creative financing options.

9. 2026-02-18
   listed $62,500 Active 632-char remark

   Show marketing remark (632 chars)

   Affordable and move-in ready! This 2-bedroom, 1-bath home in Watseka presents a great opportunity for homeowners or investors alike. Located in Flood Zone X, with no flood insurance required, helping keep monthly costs more affordable. The home offers a functional layout and comes fully equipped with brand new appliances, including washer, dryer, dishwasher, stove, and refrigerator. Additional updates include a new garage door opener (2026). With major improvements already in place and priced to sell, this property delivers comfort, value, and affordability all in one package. Seller will consider creative financing options.

10. 2026-02-11
    historical
11. 2026-02-09
    status Active
12. 2026-01-24
    historical Contingent - Continue to Show
13. 2026-01-21
    price
14. 2026-01-02
    price
15. 2025-11-19
    price
16. 2025-11-05
    listed Active
17. 2025-11-05
    historical
18. 2025-10-16
    price
19. 2025-09-30
    listed Active
20. 2022-04-06
    soldstatus $15,000 Closed
21. 2022-04-04
    soldstatus $15,000
22. 2022-03-28
    status Pending
23. 2022-03-11
    price $19,900
24. 2022-02-04
    price $22,500
25. 2021-12-12
    listed $24,999 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: $1,623 · $135/mo
• Projected year-2 tax: $1,623 · $135/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°F today · 17 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,341
• − Mortgage interest: −$3,355
• − Property taxes: −$1,623
• − Insurance: −$300
• − Repairs & maintenance: −$827
• − Management: −$827
• − Depreciation: −$1,743
• Taxable income: $1,666
• Est. tax owed @ 24.0%: −$400
• After-tax cash flow: $2,078/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: Iroquois County CUSD 9
• NCES district ID: 1720170
• Math proficiency: 18% ▼ -12.00%
• Reading proficiency: 35% ▼ -8.00%
• Median HH income: $38,590
• Composite: 22.14/100
• National rank: #8171
• State rank: #316 of 620 in IL

Livability — Watseka

• Score: 63/100
• State rank: #811
• US rank: #15998

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Watseka, IL
• Population (ZIP): 5,965

Population outlook (Iroquois County) Hauer SSP2

• Today (2025): 26,826 people
• By 2030: 25,771 · -3.9%
• By 2040: 23,589 · -12.1%
• By 2050: 21,523 · -19.8%
• By 2075: 17,998 · -32.9%
• By 2100: 14,979 · -44.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 5% Hispanic / Latino 5% Asian 1%
• Common ancestry: Lithuanian 6% Iranian 3% Romanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2% Tagalog/Filipino 1%

Political lean MEDSL · Iroquois

• 2024 margin: Solid R (+57.3) · D 20.6% · R 78.0% · Other 1.4%
• 2008→2024 swing: -27.5pp toward R · 2008: -29.8pp · 2024: -57.3pp
• All cycles: 2024: R+57.3 2020: R+56.7 2016: R+56.0 2012: R+44.7 2008: R+29.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.33%
• Current HPI: 156.8
• 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

+139.6% since first listed

21 events — show timeline

• 2026-05-06 Price Changed $59,900 MRED as Distributed by MLS Grid
• 2026-05-04 Price Changed $61,900 MRED as Distributed by MLS Grid
• 2026-03-17 Relisted — MRED as Distributed by MLS Grid
• 2026-02-23 Contingent — MRED as Distributed by MLS Grid
• 2026-02-18 Listed $62,500 MRED as Distributed by MLS Grid
• 2026-02-11 Listing Removed — MRED as Distributed by MLS Grid
• 2026-02-09 Relisted — MRED as Distributed by MLS Grid
• 2026-01-24 Contingent — MRED as Distributed by MLS Grid
• 2026-01-21 Price Changed — MRED as Distributed by MLS Grid
• 2026-01-02 Price Changed — MRED as Distributed by MLS Grid
• 2025-11-19 Price Changed — MRED as Distributed by MLS Grid
• 2025-11-05 Listing Removed — MRED as Distributed by MLS Grid
• 2025-11-05 Listed — MRED as Distributed by MLS Grid
• 2025-10-16 Price Changed — MRED as Distributed by MLS Grid
• 2025-09-30 Listed — MRED as Distributed by MLS Grid
• 2022-04-06 Sold (MLS) $15,000 MRED as Distributed by MLS Grid
• 2022-04-04 Sold (Public Records) $15,000 Public Records
• 2022-03-28 Pending — MRED as Distributed by MLS Grid
• 2022-03-11 Price Changed $19,900 MRED as Distributed by MLS Grid
• 2022-02-04 Price Changed $22,500 MRED as Distributed by MLS Grid
• 2021-12-12 Listed $24,999 MRED as Distributed by MLS Grid

Property tax history

-0.4%/yr

Latest (2024): $1,623 · +4.8% YoY. Source: county tax records.