408 E Washington St · Hoopeston, IL 60942

$27,500

6 bd · 2.0 ba · 2,400 sqft · Other · 1 Days on market

↓ 47% since listing

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• Appreciation +6.4/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0

Listing remarks MLS

WE HAVE PRICED TO SELL THIS 6 BEDROOM HOME WITH VINYL SIDING AND A HUGE FRONT PORCH. 2 FULL BATHS AND 2 HALF BATHS. THE INSIDE HAS BEAUTIFUL WOOD WORK TRIM AND STAIRCASE. HARDWOOD FLOORS AND PLENTY OF SPACE. DETACHED GARAGE OFF OF THE ALLEY. SELLING AS-IS. ALL ROOM DIEMNSIONS, SQ FOOTAGE AND YEAR BUILT ARE APPROXIMATE. INFO HERE DEEMED RELIABLE BUT NOT GURANTEED.

Key facts

• Woodwork
• Open staircase
• Front porch

Tags

• CURB APPEAL
• FRONT PORCH
• WOODWORK
• OPEN STAIRCASE
• BACK STAIRCASE

Property features AI

Finance

• Other: Possession at closing; Earnest money is held
• HOA & community: No master association fees required

Exterior

• Parking: Detached garage; Parking for up to 5 vehicles (including 1 garage space)
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; Two-story layout; Fee simple ownership; Built before 1978 (estimated age 91–100 years)
• Construction: Constructed with other materials; Approximately 2,400 total finished area (main level ~1,200 / upper ~1,200)
• Exterior features: Lot under 0.25 acre (dimensions: 7,841); County-recorded lot size

Interior

• Kitchen: Kitchen on the main level (approximately 11 x 20)
• Bedrooms: Six bedrooms (Master bedroom on the main level; five additional bedrooms on the second level sized approximately 12 x 13, 14 x 15, 14 x 16, 11 x 15, and 13 x 14)
• Bathrooms: One full bathroom; Two half bathrooms
• Heating & cooling: Other heating
• Interior features: Nine total rooms; Unfinished full basement
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath other listed at $28k.

Deal economics

• At list price, monthly cash flow is $963 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $28k).
• Cap rate 48.3% vs local median 7.3% in Hoopeston — 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 57/100 on livability (#1,152 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B+; Watch: crime D+, amenities F, commute F.
• Hoopeston Area CUSD 11 (town): math 9% / reading 15% proficiency, ranked #559 of 620 in IL (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Maple Elem School (311 students, 0% FRL); Hoopeston Area Middle School (math 5% / reading 11%, grade F, #608 of 665 statewide, top 92%, 249 students, 0% FRL); Hoopeston Area High School (math 17% / reading 17%, grade F, #430 of 693 statewide, top 66%, 338 students, 0% FRL) — zoned schools average 0% FRL vs 58% district-wide (58 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 41 active listings in the ZIP; 8 units permitted in Vermilion County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $952 of equity ($190 loan paydown + $762 appreciation (2.8% local appreciation)).
• Vermilion County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.8% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 9y 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 $12k; list at $28k implies a 129% gain — meaningful room to come down on a strong offer.

Recommended offer $27,500

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 5.18% ✓
• Cap rate: 48.33%
• Cash-on-cash: 150.15%
• DSCR: 7.68
• GRM: 1.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.77% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 9.36×
• Total profit: $64,346
• Equity at exit: $12,011

10-year hold

• IRR: —
• Equity multiple: 19.64×
• Total profit: $143,495
• Equity at exit: $18,239

Cash invested: $7,700 (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 60942

• Home prices YoY: 1.4%
• Active inventory: 41
• Price-to-rent: 1.6×

Monthly cashflow live

• Estimated rent: $1,424 medium
• Mortgage (P&I): −$144
• Tax from tax record: −$6 /mo · $66/yr
• Insurance: −$11
• HOA: −$0
• Vacancy / Maint / Mgmt: −$299
• Net cashflow: $963

Break-even live

Break-even rent $204

Max offer price $27,500

Occupancy floor 27%

Sensitivity live

Price	-10% $979	-5% $971	+0% $963	+5% $956	+10% $948
Rent	-10% $851	-5% $907	+0% $963	+5% $1,020	+10% $1,076
Rate	-1.0pp $977	-0.5pp $970	base $963	+0.5pp $956	+1.0pp $949

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: $6,875
• Closing costs: $825
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-05-26
   listed $27,500 Active
2. 2017-08-25
   soldstatus $12,000 365-char remark

   Show marketing remark (365 chars)

   WE HAVE PRICED TO SELL THIS 6 BEDROOM HOME WITH VINYL SIDING AND A HUGE FRONT PORCH. 2 FULL BATHS AND 2 HALF BATHS. THE INSIDE HAS BEAUTIFUL WOOD WORK TRIM AND STAIRCASE. HARDWOOD FLOORS AND PLENTY OF SPACE. DETACHED GARAGE OFF OF THE ALLEY. SELLING AS-IS. ALL ROOM DIEMNSIONS, SQ FOOTAGE AND YEAR BUILT ARE APPROXIMATE. INFO HERE DEEMED RELIABLE BUT NOT GURANTEED.

3. 2017-07-01
   listed $14,900 365-char remark

   Show marketing remark (365 chars)

   WE HAVE PRICED TO SELL THIS 6 BEDROOM HOME WITH VINYL SIDING AND A HUGE FRONT PORCH. 2 FULL BATHS AND 2 HALF BATHS. THE INSIDE HAS BEAUTIFUL WOOD WORK TRIM AND STAIRCASE. HARDWOOD FLOORS AND PLENTY OF SPACE. DETACHED GARAGE OFF OF THE ALLEY. SELLING AS-IS. ALL ROOM DIEMNSIONS, SQ FOOTAGE AND YEAR BUILT ARE APPROXIMATE. INFO HERE DEEMED RELIABLE BUT NOT GURANTEED.

4. 1980-03-07
   soldstatus $54,500
5. 1978-12-04
   soldstatus $52,000

ⓘ 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: $66 · $6/mo
• Projected year-2 tax: $345 · $29/mo
• Expected delta: +$279/yr (+$23/mo · 420.6%)

ⓘ 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 ≥103°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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,083
• − Mortgage interest: −$1,540
• − Property taxes: −$66
• − Insurance: −$138
• − Repairs & maintenance: −$1,367
• − Management: −$1,367
• − Depreciation: −$800
• Taxable income: $11,806
• Est. tax owed @ 24.0%: −$2,833
• After-tax cash flow: $8,728/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: Hoopeston Area CUSD 11
• NCES district ID: 1719660
• Math proficiency: 9% ▼ -7.00%
• Reading proficiency: 15% ▼ -3.00%
• Median HH income: $40,897
• Composite: 10.39/100
• National rank: #9786
• State rank: #559 of 620 in IL

Livability — Hoopeston

• Score: 57/100
• State rank: #1152
• US rank: #21789

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hoopeston, IL
• City population: 5,635
• Population (ZIP): 5,635

Population outlook (Vermilion County) Hauer SSP2

• Today (2025): 72,775 people
• By 2030: 69,235 · -4.9%
• By 2040: 62,360 · -14.3%
• By 2050: 55,539 · -23.7%
• By 2075: 40,606 · -44.2%
• By 2100: 26,985 · -62.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 5% Two or more races 4% Black 2% Asian 1%
• Common ancestry: Portuguese 4% Slovak 2% Italian 2%
• Foreign-born: 1% · Canada, South Korea
• Languages at home: 96% English-only · Spanish 4% Other Indo-European 1%

Political lean MEDSL · Vermilion

• 2024 margin: Solid R (+35.7) · D 31.4% · R 67.0% · Other 1.6%
• 2008→2024 swing: -36.2pp toward R · 2008: 0.6pp · 2024: -35.7pp
• All cycles: 2024: R+35.7 2020: R+32.9 2016: R+29.2 2012: R+15.7 2008: D+0.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.77%
• Current HPI: 193.4089
• 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

-47.1% since first listed

5 events — show timeline

• 2026-05-26 Listed $27,500 MRED as Distributed by MLS Grid
• 2017-08-25 Sold (MLS) $12,000 CIBR
• 2017-07-01 Listed $14,900 CIBR
• 1980-03-07 Sold (Public Records) $54,500 Public Records
• 1978-12-04 Sold (Public Records) $52,000 Public Records

Property tax history

-14.6%/yr

Latest (2024): $66 · +315.0% YoY. Source: county tax records.