700 W Jourdan St · Newton, IL 62448

$59,000

2 bd · 1.0 ba · 1,129 sqft · Other · 59 Days on market

Built 1910 9,537 sqft lot $52/sqft · 19% below area Est $73k · 19% under

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Why this score? — see what drove the A 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
• Appreciation +10.0/10.0
• Livability +3.2/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Corner Lot Gem with Prime Location! Centrally located 2BR/1BA home on a large corner lot in Newton. Features include an expansive living room suitable for oversized furniture and a spacious eat-in kitchen with an adjacent large laundry/utility room. The 1-car attached garage is connected via a versatile breezeway, ideal for a mudroom or extra storage. Enjoy summer evenings on the classic front porch. Close proximity to local schools and downtown amenities. Move-in ready with functional layout. Minimum 24-hour notice for all showings.

Key facts

• Versatile breezeway
• Prime location
• Corner lot

Tags

• CORNER LOT
• PRIME LOCATION
• EXPANSIVE LIVING ROOM
• SPACIOUS EAT-IN KITCHEN
• LARGE LAUNDRY UTILITY ROOM
• VERSATILE BREEZEWAY

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $59k.

Deal economics

• At list price, monthly cash flow is $273 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($983 rent vs $59k).
• Recommended offer: $57k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#809 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D, employment D, amenities F.
• Jasper County CUD 1 (town): math 29% / reading 30% proficiency, ranked #253 of 620 in IL (top 41%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 18 active listings in the ZIP.

Forward outlook

• In year one you build about $6k of equity ($408 loan paydown + $6k appreciation (10.0% local appreciation)).
• Jasper County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 17y 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 $14k; list at $59k implies a 321% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price; built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $57,230 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.67% ✓
• Cap rate: 11.85%
• Cash-on-cash: 19.86%
• DSCR: 1.88
• GRM: 5.0

CMA / ARV

• ARV (median comp): $72,897
• List price: $59,000
• Delta: -19.06%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 39.1%
• Equity multiple: 4.00×
• Total profit: $49,618
• Equity at exit: $53,152

10-year hold

• IRR: 33.7%
• Equity multiple: 9.02×
• Total profit: $132,571
• Equity at exit: $114,624

Cash invested: $16,520 (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 62448

• Home prices YoY: 13.4%
• Active inventory: 18
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $983 medium
• Mortgage (P&I): −$309
• Tax from tax record: −$170 /mo · $2,034/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$207
• Net cashflow: $273

Break-even live

Break-even rent $637

Max offer price $59,000

Occupancy floor 67%

Sensitivity live

Price	-10% $307	-5% $290	+0% $273	+5% $257	+10% $240
Rent	-10% $196	-5% $235	+0% $273	+5% $312	+10% $351
Rate	-1.0pp $303	-0.5pp $288	base $273	+0.5pp $258	+1.0pp $243

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: $14,750
• Closing costs: $1,770
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $59,000 Active 59 DOM
2. 2026-06-18
   days on market $59,000 Active 57 DOM
3. 2026-06-17
   days on market $59,000 Active 56 DOM
4. 2026-06-16
   days on market $59,000 Active 55 DOM
5. 2026-06-15
   days on market $59,000 Active 54 DOM
6. 2026-06-13
   days on market $59,000 Active 52 DOM
7. 2026-06-12
   days on market $59,000 Active 51 DOM
8. 2026-06-09
   days on market $59,000 Active 48 DOM
9. 2026-06-08
   days on market $59,000 Active 47 DOM
10. 2026-06-07
    days on market $59,000 Active 46 DOM
11. 2026-06-05
    days on market $59,000 Active 44 DOM
12. 2026-06-04
    days on market $59,000 Active 42 DOM
13. 2026-06-02
    days on market $59,000 Active 41 DOM
14. 2026-06-01
    days on market $59,000 Active 40 DOM
15. 2026-05-31
    days on market $59,000 Active 39 DOM
16. 2026-05-31
    days on market $59,000 Active 38 DOM
17. 2026-04-22
    listed $59,000 Active 540-char remark

    Show marketing remark (540 chars)

    Corner Lot Gem with Prime Location! Centrally located 2BR/1BA home on a large corner lot in Newton. Features include an expansive living room suitable for oversized furniture and a spacious eat-in kitchen with an adjacent large laundry/utility room. The 1-car attached garage is connected via a versatile breezeway, ideal for a mudroom or extra storage. Enjoy summer evenings on the classic front porch. Close proximity to local schools and downtown amenities. Move-in ready with functional layout. Minimum 24-hour notice for all showings.

18. 2010-03-01
    soldstatus $14,000
19. 2010-02-24
    soldstatus $14,000 49-char remark

    Show marketing remark (49 chars)

    Partial roof in 2003, Insulation 2002, Furnace 04

20. 2009-03-17
    listed $24,000 49-char remark

    Show marketing remark (49 chars)

    Partial roof in 2003, Insulation 2002, Furnace 04

ⓘ 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: $2,034 · $170/mo
• Projected year-2 tax: $2,034 · $170/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 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥106°F today · 19 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: $11,801
• − Mortgage interest: −$3,305
• − Property taxes: −$2,034
• − Insurance: −$295
• − Repairs & maintenance: −$944
• − Management: −$944
• − Depreciation: −$1,716
• Taxable income: $2,562
• Est. tax owed @ 24.0%: −$615
• After-tax cash flow: $2,666/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: Jasper County CUD 1
• NCES district ID: 1720380
• Math proficiency: 29% ▼ -9.00%
• Reading proficiency: 30% ▼ -8.00%
• Median HH income: $50,304
• Composite: 25.82/100
• National rank: #7358
• State rank: #253 of 620 in IL

Livability — Newton

• Score: 63/100
• State rank: #809
• US rank: #15982

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Newton, IL
• Population (ZIP): 5,263

Population outlook (Jasper County) Hauer SSP2

• Today (2025): 9,203 people
• By 2030: 8,927 · -3.0%
• By 2040: 8,350 · -9.3%
• By 2050: 7,733 · -16.0%
• By 2075: 6,335 · -31.2%
• By 2100: 4,960 · -46.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Iranian 3% Slovak 2% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Jasper

• 2024 margin: Solid R (+65.2) · D 16.8% · R 82.1% · Other 1.1%
• 2008→2024 swing: -47.7pp toward R · 2008: -17.6pp · 2024: -65.2pp
• All cycles: 2024: R+65.2 2020: R+62.4 2016: R+59.7 2012: R+41.2 2008: R+17.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 23.86%
• Current HPI: 201.3868
• 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

+145.8% since first listed

4 events — show timeline

• 2026-04-22 Listed $59,000 CIBR
• 2010-03-01 Sold (Public Records) $14,000 Public Records
• 2010-02-24 Sold (MLS) $14,000 MRED as Distributed by MLS Grid
• 2009-03-17 Listed $24,000 MRED as Distributed by MLS Grid

Property tax history

+8.1%/yr

Latest (2024): $2,034 · +3.0% YoY. Source: county tax records.