402 Scarlet Oak Dr · Poplar Grove, IL 61065

$360,000

4 bd · 2.5 ba · 3,379 sqft · SingleFamily public records · 6 Days on market

Built 2004 0.40 ac lot Est $324k · 11% over

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Why this score? — see what drove the C 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 +24.9/30.0
• DSCR +8.1/10.0
• 1% rule +7.0/10.0
• Appreciation +6.6/10.0
• Livability +3.2/5.0
• ARV discount +2.6/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0

Listing remarks MLS

Welcome home to this spacious 4-bedroom, 2.5-bath residence offering over 3,000 square feet of comfortable living space-perfect for a growing family! Relax on the inviting front porch, an ideal spot to enjoy your morning coffee. Have peace of mind with a new roof. The heart of the home is the beautifully designed kitchen featuring a breakfast bar island, ample cabinetry, and an open layout that flows seamlessly into the eating area and family room with a cozy gas fireplace-perfect for everyday living and entertaining. Just off the entryway, you'll find both formal living and dining rooms, providing additional space for gatherings and special occasions. The expansive primary suite boasts a huge walk-in closet and a private ensuite bath complete with a skylight, jetted soaking tub, separate shower, and dual vanities. Upstairs, a versatile loft area serves as the perfect reading nook, relaxation space, or play area between the three additional bedrooms. The finished lower level offers even more room to entertain, along with a bonus room that could easily function as a home office, exercise room, or potential fifth bedroom. Situated on an spacious corner lot, this property provides plenty of outdoor space for recreation and enjoyment to include a newly painted and restored deck. Additional features include first-floor laundry,a newly built oversized deck ideal for stargazing and outdoor entertaining, and a spacious 3-car attached garage. This home truly offers the space, comfort, and flexibility today's buyers are looking for!

Key facts

• Cozy gas fireplace
• Huge walk-in closet
• Breakfast bar island

Tags

• NEW ROOF
• BREAKFAST BAR ISLAND
• COZY GAS FIREPLACE
• HUGE WALK-IN CLOSET
• PRIVATE ENSUITE BATH
• SKYLIGHT

Property features AI

Exterior

• Parking: Attached 3-car garage
• Utilities: Public water; Public sewer
• Home design: Single family residence; Residential property; 2 stories
• Construction: Below-grade finished area
• Exterior features: Shingle roof; 0.4 acre lot

Interior

• Kitchen: Gas cooktop; Dishwasher; Refrigerator
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Walk-in closet(s); Full basement; Therapeutic whirlpool; Gas fireplace (1)
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $360k.

Deal economics

• At list price, monthly cash flow is $772 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $360k).

Location & tenants

• Location reads 65/100 on livability (#598 in IL) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, cost of living A; Watch: amenities F, commute F, health & safety F.
• North Boone CUSD 200 (rural): math 14% / reading 21% proficiency, ranked #440 of 620 in IL (top 71%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Poplar Grove Elem School (math 17% / reading 27%, grade F, #940 of 2,056 statewide, top 49%, 238 students, 0% FRL); North Boone Middle School (math 15% / reading 24%, grade F, #425 of 665 statewide, top 65%, 242 students, 0% FRL); North Boone High School (math 12% / reading 22%, grade F, #430 of 693 statewide, top 66%, 517 students, 0% FRL) — zoned schools average 0% FRL vs 35% district-wide (35 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 38 active listings in the ZIP; 56 units permitted in Boone County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $14k of equity ($2k loan paydown + $12k appreciation (3.2% local appreciation)).
• Boone County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.2% appreciation + 3.0% rent growth), your $101k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 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 $34k; list at $360k implies a 962% gain — meaningful room to come down on a strong offer.

Recommended offer $360,000

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. 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: 1.20% ✓
• Cap rate: 8.87%
• Cash-on-cash: 9.19%
• DSCR: 1.41
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $324,384
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
440 Sherman Ln	0.40mi	5/3.0 (+1)	3,613 (+7%)	22mo	$348,000	$96	45

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

Projected returns pro-forma

3.23% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.7%
• Equity multiple: 1.96×
• Total profit: $97,031
• Equity at exit: $166,491

10-year hold

• IRR: 18.1%
• Equity multiple: 3.69×
• Total profit: $271,442
• Equity at exit: $260,232

Cash invested: $100,800 (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 61065

• Home prices YoY: 1.4%
• Active inventory: 38
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $4,306 medium
• Mortgage (P&I): −$1,888
• Tax from tax record: −$592 /mo · $7,103/yr
• Insurance: −$150
• HOA: −$0
• Vacancy / Maint / Mgmt: −$904
• Net cashflow: $772

Break-even live

Break-even rent $3,329

Max offer price $360,000

Occupancy floor 77%

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: $90,000
• Closing costs: $10,800
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-18
   days on market $360,000 Active 6 DOM
2. 2026-06-17
   days on market $360,000 Active 5 DOM
3. 2026-06-16
   days on market $360,000 Active 4 DOM
4. 2026-06-15
   days on market $360,000 Active 3 DOM
5. 2026-06-13
   remarks 687-char remark
6. 2026-06-13
   listed $360,000 Active 1 DOM

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

Tax reassessment forecast IL · Partial reset (capped growth)

• Current annual tax: $7,103 · $592/mo
• Projected year-2 tax: $7,638 · $636/mo
• Expected delta: +$534/yr (+$45/mo · 7.5%)

ⓘ 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 2/10 Low 7 d/yr ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $51,673
• − Mortgage interest: −$20,166
• − Property taxes: −$7,103
• − Insurance: −$1,800
• − Repairs & maintenance: −$4,134
• − Management: −$4,134
• − Depreciation: −$10,473
• Taxable income: $3,864
• Est. tax owed @ 24.0%: −$927
• After-tax cash flow: $8,337/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: North Boone CUSD 200
• NCES district ID: 1728700
• Math proficiency: 14% ▼ -8.00%
• Reading proficiency: 21% ▼ -12.00%
• Median HH income: $59,553
• Composite: 16.73/100
• National rank: #9163
• State rank: #440 of 620 in IL

Livability — Poplar Grove

• Score: 65/100
• State rank: #598
• US rank: #12394

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Poplar Grove, IL
• Population (ZIP): 10,927

Population outlook (Boone County) Hauer SSP2

• Today (2025): 52,507 people
• By 2030: 51,509 · -1.9%
• By 2040: 48,611 · -7.4%
• By 2050: 44,363 · -15.5%
• By 2075: 33,262 · -36.7%
• By 2100: 21,495 · -59.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 17% Two or more races 10% Black 2%
• Hispanic origin (detail): Mexican 13% Puerto Rican 4%
• Common ancestry: Romanian 10% Portuguese 3% Lithuanian 3%
• Foreign-born: 6% · Canada
• Languages at home: 85% English-only · Spanish 10% Russian/Polish/Slavic 4%

Political lean MEDSL · Boone

• 2024 margin: R (+14.5) · D 42.0% · R 56.5% · Other 1.6%
• 2008→2024 swing: -18.7pp toward R · 2008: 4.2pp · 2024: -14.5pp
• All cycles: 2024: R+14.5 2020: R+13.4 2016: R+14.6 2012: R+5.7 2008: D+4.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.23%
• Current HPI: 232.9144
• 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

+961.9% since first listed

9 events — show timeline

• 2026-06-12 Listed $360,000 NWIAR
• 2026-06-10 Listed $360,000 MRED as Distributed by MLS Grid
• 2022-01-07 Listing Removed — MRED as Distributed by MLS Grid
• 2021-09-17 Relisted — MRED as Distributed by MLS Grid
• 2021-09-10 Pending — MRED as Distributed by MLS Grid
• 2021-08-24 Price Changed — MRED as Distributed by MLS Grid
• 2021-07-07 Price Changed — MRED as Distributed by MLS Grid
• 2021-06-07 Listed — MRED as Distributed by MLS Grid
• 2004-03-04 Sold (Public Records) $33,900 Public Records

Property tax history

+3.7%/yr

Latest (2025): $7,103 · +4.8% YoY. Source: county tax records.