900 S Rotan St · Salem, IL 62881

$35,000

2 bd · 1.0 ba · 612 sqft · SingleFamily · 3 Days on market

Built 1935 0.75 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
• Livability +3.4/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Situated on nearly an acre within city limits, this 612 sq. ft. home offers more space than you might expect. Most recently used as a 2-bedroom residence, it could make a great starter home, downsizing option, or investment property. Some repairs and updates are needed, giving the next owner an opportunity to make it their own. Roof and water heater were replaced in 2020. Plenty of yard space and room to enjoy in a convenient in-town location.

Key facts

• In town location
• Nearly an acre
• Roof replaced

Tags

• NEARLY AN ACRE
• IN TOWN LOCATION
• ROOF REPLACED
• WATER HEATER REPLACED
• YARD SPACE

Property features AI

Finance

• Other: Property not currently leased; Built before 1978
• HOA & community: No master association fee required

Exterior

• Parking: Parking for 4 vehicles; Driveway parking; Gravel parking area; Owned parking
• Utilities: Public water; Electric with circuit breakers
• Home design: Detached single-family residence; One-story home; Fee simple ownership
• Construction: Built approximately 91–100 years ago; Vinyl siding exterior; Asphalt roof; Approximately 612 total finished square feet
• Exterior features: Level lot; School bus service available

Interior

• Kitchen: Kitchen on the main level (approx. 8 x 11)
• Bedrooms: Master bedroom on the main level (approx. 8 x 9); Additional bedroom on the main level (approx. 6 x 12); Two other bedrooms (no level specified)
• Flooring: Carpet in bedrooms; Laminate in living room; Vinyl flooring in kitchen
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas forced air heating; Window cooling units
• Interior features: Four total rooms; Window blinds and other window treatments throughout
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $419 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($837 rent vs $35k).
• Cap rate 20.7% vs local median 5.6% in Salem — 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 68/100 on livability (#467 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D, amenities F, commute F.
• Salem Chsd 600 (town): math 25% / reading 30% proficiency, ranked #571 of 919 in IL (top 62%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 48 active listings in the ZIP; 2 units permitted in Marion County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $242 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Marion County population projected at -20% 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 $10k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $35,000

Questions for the listing agent

1. Built in 1935 — 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. 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?
4. 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.
5. 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.
6. 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: 2.39% ✓
• Cap rate: 20.67%
• Cash-on-cash: 51.35%
• DSCR: 3.28
• GRM: 3.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 49.2%
• Equity multiple: 3.15×
• Total profit: $21,050
• Equity at exit: $5,219

10-year hold

• IRR: 54.8%
• Equity multiple: 6.39×
• Total profit: $52,774
• Equity at exit: $3,026

Cash invested: $9,800 (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 62881

• Home prices YoY: -28.0%
• Active inventory: 48
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $837 medium
• Mortgage (P&I): −$184
• Tax est. 1.5%: −$44 /mo · $525/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$176
• Net cashflow: $419

Break-even live

Break-even rent $306

Max offer price $35,000

Occupancy floor 45%

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-07
   statusdays on market $35,000 Pending 3 DOM
2. 2026-06-03
   remarks 447-char remark
3. 2026-06-03
   listed $35,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥106°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $10,044
• − Mortgage interest: −$1,961
• − Property taxes: −$525
• − Insurance: −$175
• − Repairs & maintenance: −$804
• − Management: −$804
• − Depreciation: −$1,018
• Taxable income: $4,758
• Est. tax owed @ 24.0%: −$1,142
• After-tax cash flow: $3,890/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: Salem Chsd 600
• NCES district ID: 1735190
• Math proficiency: 25% ▲ 10.00%
• Reading proficiency: 30% ▲ 5.00%
• Median HH income: $39,305
• Composite: 26.04/100
• National rank: #12738
• State rank: #571 of 919 in IL

Livability — Salem

• Score: 68/100
• State rank: #467
• US rank: #9634

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Salem, IL
• City population: 11,218
• Population (ZIP): 11,218

Population outlook (Marion County) Hauer SSP2

• Today (2025): 36,071 people
• By 2030: 34,598 · -4.1%
• By 2040: 31,754 · -12.0%
• By 2050: 28,912 · -19.8%
• By 2075: 22,527 · -37.5%
• By 2100: 16,455 · -54.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Black 3% Two or more races 2%
• Common ancestry: Romanian 2% Italian 2% Iranian 2%
• Foreign-born: 1%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Marion

• 2024 margin: Solid R (+49.5) · D 24.6% · R 74.1% · Other 1.4%
• 2008→2024 swing: -47.5pp toward R · 2008: -2.0pp · 2024: -49.5pp
• All cycles: 2024: R+49.5 2020: R+46.6 2016: R+44.9 2012: R+19.2 2008: R+2.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -63.16%
• Current HPI: 162.55
• 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

3 events — show timeline

• 2026-06-02 Listed $35,000 MRED as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2017-10-20 Listing Removed — MRED as Distributed by MLS Grid

Property tax history

-20.1%/yr

Latest (2024): $57 · -6.9% YoY. Source: county tax records.