812 E Benton St · Morris, IL 60450

$108,000

2 bd · 1.0 ba · 478 sqft · SingleFamily public records · 19 Days on market

Built 1935 7,598 sqft lot

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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 +19.6/30.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• DSCR +6.2/10.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Cozy ranch * very * close to downtown Morris, huge yard - just needs some TLC and you're good to go! This home is set back on one of the biggest lots on the street, with additional alley access. This house has recently been improved with a kitchen and bathroom refresh, but awaits your personal touch to make it a home! 2 beds, 1 bath could make a nice starter home, could be good for down-sizing, renting, or even to build bigger and better in a great location! Give it a look and see what you think!

Key facts

• Huge yard
• Alley access
• Bathroom refresh

Tags

• HUGE YARD
• BIGGEST LOTS
• ALLEY ACCESS
• KITCHEN REFRESH
• BATHROOM REFRESH

Property features AI

Finance

• Other: Living area per assessor
• HOA & community: No master association fee required

Exterior

• Parking: One parking space
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; One-story; Fee simple ownership; Built more than 90 years ago; Built before 1978
• Construction: Vinyl siding; Structure not rebuilt or rehabilitated
• Exterior features: Lot approximately 131 x 58; Less than 0.25 acre; Interstate access; Property set back behind fence (per directions)

Interior

• Kitchen: Kitchen (main level) 18 x 10
• Bedrooms: Master bedroom (main level) 10 x 12; Second bedroom (main level) 9 x 9; Two additional bedrooms
• Bathrooms: One full bathroom
• Heating & cooling: Space heater
• Interior features: Five total rooms; Crawl space basement
• Laundry & utility: Main-level laundry 5 x 5

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $108k.

Deal economics

• At list price, monthly cash flow is $124 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $108k).
• Recommended offer: $106k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 3.5% in Morris — 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 74/100 on livability (#248 in IL, #4,532 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: amenities F, commute F.
• Morris Chsd 101 (town): math 30% / reading 31% proficiency, ranked #230 of 620 in IL (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Morris Community High School (math 30% / reading 31%, grade F, #175 of 693 statewide, top 26%, 946 students, 0% FRL).
• Market conditions: 104 active listings in the ZIP; solid renter incomes; 84 units permitted in Grundy County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $747 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Grundy County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y ago; this cycle's ask has dropped $27k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $45k; list at $108k implies a 140% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price; built in 1935 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $106,380 (1.5% below list)

Questions for the listing agent

1. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.20% ✓
• Cap rate: 7.68%
• Cash-on-cash: 4.94%
• DSCR: 1.22
• GRM: 7.0

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: -8.5%
• Equity multiple: 0.69×
• Total profit: $-9,462
• Equity at exit: $16,103

10-year hold

• IRR: 1.1%
• Equity multiple: 1.08×
• Total profit: $2,420
• Equity at exit: $9,338

Cash invested: $30,240 (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 60450

• Active inventory: 104
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,292 medium
• Mortgage (P&I): −$566
• Tax from tax record: −$285 /mo · $3,417/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $124

Break-even live

Break-even rent $1,134

Max offer price $108,000

Occupancy floor 85%

Sensitivity live

Price	-10% $186	-5% $155	+0% $124	+5% $94	+10% $63
Rent	-10% $22	-5% $73	+0% $124	+5% $175	+10% $227
Rate	-1.0pp $179	-0.5pp $152	base $124	+0.5pp $96	+1.0pp $68

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: $27,000
• Closing costs: $3,240
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $108,000 Active 19 DOM
2. 2026-06-18
   days on market $108,000 Active 16 DOM
3. 2026-06-17
   days on market $108,000 Active 15 DOM
4. 2026-06-16
   days on market $108,000 Active 14 DOM
5. 2026-06-15
   days on market $108,000 Active 13 DOM
6. 2026-06-13
   days on market $108,000 Active 11 DOM
7. 2026-06-13
   days on market $108,000 Active 10 DOM
8. 2026-06-09
   days on market $108,000 Active 7 DOM
9. 2026-06-08
   days on market $108,000 Active 6 DOM
10. 2026-06-07
    days on market $108,000 Active 5 DOM
11. 2026-06-04
    days on market $108,000 Active 2 DOM
12. 2026-06-02
    pricedays on marketlisting id $108,000 Active 1 DOM
13. 2026-06-01
    days on market $125,000 Active 125 DOM
14. 2026-05-31
    days on market $125,000 Active 124 DOM
15. 2026-03-27
    price $125,000
16. 2026-01-27
    listed $135,000 Active
17. 2021-01-17
    historical
18. 2020-08-07
    price
19. 2020-01-17
    listed New
20. 2019-09-24
    soldstatus $45,000

ⓘ 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: $3,417 · $285/mo
• Projected year-2 tax: $3,417 · $285/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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 16 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: $15,502
• − Mortgage interest: −$6,050
• − Property taxes: −$3,417
• − Insurance: −$540
• − Repairs & maintenance: −$1,240
• − Management: −$1,240
• − Depreciation: −$3,142
• Taxable loss: −$127
• Est. tax savings @ 24.0%: +$30
• After-tax cash flow: $1,524/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: Morris Chsd 101
• NCES district ID: 1726640
• Math proficiency: 30% ▼ -12.00%
• Reading proficiency: 31% ▼ -6.00%
• Median HH income: $57,178
• Composite: 27.31/100
• National rank: #6995
• State rank: #230 of 620 in IL

Livability — Morris

• Score: 74/100
• State rank: #248
• US rank: #4532

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Morris, IL
• County: Grundy County · 20,783 people
• City population: 20,783
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 20,783
• Household income: $81,777
• Rent vs Own: 35.1% rent · 64.9% own
• Severe rent burden: 722.0

Population outlook (Grundy County) Hauer SSP2

• Today (2025): 50,716 people
• By 2030: 50,218 · -1.0%
• By 2040: 48,599 · -4.2%
• By 2050: 46,212 · -8.9%
• By 2075: 40,033 · -21.1%
• By 2100: 32,966 · -35.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 9% Two or more races 7% Black 2%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Portuguese 10% Romanian 7% Iranian 2%
• Foreign-born: 4% · Canada
• Languages at home: 91% English-only · Spanish 6% Tagalog/Filipino 1% Other Indo-European 1%

Political lean MEDSL · Grundy

• 2024 margin: Strong R (+29.6) · D 34.5% · R 64.0% · Other 1.5%
• 2008→2024 swing: -31.3pp toward R · 2008: 1.7pp · 2024: -29.6pp
• All cycles: 2024: R+29.6 2020: R+25.8 2016: R+23.6 2012: R+9.0 2008: D+1.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -144.59%
• Current HPI: 159.5402
• Rent YoY: —
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• 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

+177.8% since first listed

6 events — show timeline

• 2026-03-27 Price Changed $125,000 MRED as Distributed by MLS Grid
• 2026-01-27 Listed $135,000 MRED as Distributed by MLS Grid
• 2021-01-17 Listing Removed — MRED as Distributed by MLS Grid
• 2020-08-07 Price Changed — MRED as Distributed by MLS Grid
• 2020-01-17 Listed — MRED as Distributed by MLS Grid
• 2019-09-24 Sold (Public Records) $45,000 Public Records

Property tax history

+4.0%/yr

Latest (2024): $3,417 · +5.9% YoY. Source: county tax records.