30 N Walnut St · Manteno, IL 60950

$179,000

2 bd · 1.5 ba · 1,214 sqft · SingleFamily · 1 Days on market

Built 1920 3,678 sqft lot Est $208k · 14% under

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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).

• ARV discount +13.7/15.0
• Cash flow +11.9/30.0
• 1% rule +4.1/10.0
• DSCR +3.5/10.0
• Livability +3.4/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this adorable and well loved 2 bedroom, 1.5 bath home nestled in the heart of downtown Manteno! Enjoy the convenience of being just a short walk from local restaurants, shops, parks, and the many community events that make Manteno such a wonderful place to live. This inviting home offers comfort and peace of mind with several important updates, including a metal roof installed in 2015, water heater replaced in 2015, and furnace installed in 2014. It also comes with not only 1 stove but 2, along with the refrigerator, washer and dryer. Plus, you'll never have to worry about power outages thanks to the whole house generator. Located in Manteno's golf cart friendly community, y

Key facts

• Metal roof
• Water heater
• Furnace

Tags

• METAL ROOF
• WATER HEATER
• FURNACE
• WHOLE HOUSE GENERATOR
• GOLF CART FRIENDLY COMMUNITY

Property features AI

Finance

• Other: Parcel number 03022210203600
• HOA & community: No master association fees required

Exterior

• Parking: Detached garage (1 garage space, 1 total parking space)
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; 1.5-story layout; Fee simple ownership; Property more than 100 years old; Built before 1978
• Construction: Vinyl siding
• Exterior features: Lot roughly 45.98 x 80; Less than 0.25 acre; Interstate access

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Master bedroom on second floor (13 x 11); Second bedroom on second floor (12 x 11); Additional bedrooms present
• Bathrooms: One full bath; One half bath; Basement has a bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Five rooms total; Unfinished full basement; Sump pump with backup; Generator
• Laundry & utility: Washer; Dryer; Laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $179k.

Deal economics

• At list price, monthly cash flow is $-45 ($-535/yr) — negative.
• To cash-flow at today's rent, offer at most $171k (4.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $163k (9.0% below list).
• Recommended offer: $163k (9.0% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 2.3% in Manteno — 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 (#464 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, cost of living A; Watch: health & safety C-, amenities F, commute F.
• Manteno CUSD 5 (suburban): math 27% / reading 35% proficiency, ranked #224 of 620 in IL (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Manteno Elem School (math 29% / reading 31%, grade F, #648 of 2,056 statewide, top 32%, 696 students, 0% FRL); Manteno Middle School (math 26% / reading 40%, grade F, #217 of 665 statewide, top 33%, 553 students, 0% FRL); Manteno High School (math 27% / reading 22%, grade F, #256 of 693 statewide, top 44%, 637 students, 0% FRL) — zoned schools average 0% FRL vs 28% district-wide (28 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 67 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 27d on market — plan ~3-4 weeks tenant-placement turnaround); 145 units permitted in Kankakee County in 2024 (5 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Kankakee County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $162,801 (9.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.91% ✗
• Cap rate: 5.99%
• Cash-on-cash: -1.07%
• DSCR: 0.95
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $207,594
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
53 N Walnut St	0.03mi	3/1.0 (+1)	1,260 (+4%)	11mo	$210,000	$167	76
398 W Adams St	0.25mi	2/2.0	1,200 (-1%)	15mo	$205,500	$171	72
32 N Walnut St	0.01mi	3/2.0 (+1)	1,096 (-10%)	7mo	$200,000	$182	70
276 W Second St	0.19mi	3/1.5 (+1)	1,344 (+11%)	3mo	$150,000	$112	66
155 E Baker St	0.31mi	3/2.0 (+1)	1,316 (+8%)	2mo	$220,155	$167	62
232 W 4th St	0.31mi	3/1.0 (+1)	1,200 (-1%)	18mo	$250,000	$208	61
165 E Baker St	0.33mi	3/2.0 (+1)	1,373 (+13%)	4mo	$219,900	$160	52
168 W Fifth St	0.38mi	3/2.0 (+1)	1,300 (+7%)	24mo	$290,000	$223	43
6 Katie Ln	0.42mi	3/1.0 (+1)	1,100 (-9%)	19mo	$215,500	$196	42

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

Projected returns pro-forma

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

5-year hold

• IRR: -18.0%
• Equity multiple: 0.37×
• Total profit: $-31,763
• Equity at exit: $26,689

10-year hold

• IRR: -10.1%
• Equity multiple: 0.38×
• Total profit: $-30,981
• Equity at exit: $15,477

Cash invested: $50,120 (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 60950

• Active inventory: 67
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,628 medium
• Mortgage (P&I): −$939
• Tax from tax record: −$317 /mo · $3,809/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$342
• Net cashflow: $-45

Break-even live

Break-even rent $1,684

Max offer price $171,125

Occupancy floor 98%

Sensitivity live

Price	-10% $57	-5% $6	+0% $-45	+5% $-95	+10% $-146
Rent	-10% $-173	-5% $-109	+0% $-45	+5% $20	+10% $84
Rate	-1.0pp $46	-0.5pp $1	base $-45	+0.5pp $-91	+1.0pp $-138

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
105 E Division St Unit 105 Manteno, IL	3.0	2.5	1350	$2,000	$1.48	45d	1	0.19mi
219 S Main St Unit upst Manteno, IL	2.0	1.0	700	$1,200	$1.71	26d	1	0.27mi
201 W 5th St Unit 2 Manteno, IL	2.0	1.0	756	$1,395	$1.85	26d	1	0.35mi
180 Birch Ct Apt 2 Manteno, IL	3.0	1.5	1000	$1,450	$1.45	0d	1	0.35mi

Listing history 2 events

1. 2026-06-19
   remarks 699-char remark
2. 2026-06-19
   listed $179,000 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: $3,809 · $317/mo
• Projected year-2 tax: $3,936 · $328/mo
• Expected delta: +$127/yr (+$11/mo · 3.3%)

ⓘ 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 ≥104°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $19,536
• − Mortgage interest: −$10,027
• − Property taxes: −$3,809
• − Insurance: −$895
• − Repairs & maintenance: −$1,563
• − Management: −$1,563
• − Depreciation: −$5,207
• Taxable loss: −$3,528
• Est. tax savings @ 24.0%: +$847
• After-tax cash flow: $312/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: Manteno CUSD 5
• NCES district ID: 1724390
• Math proficiency: 27% ▼ -2.00%
• Reading proficiency: 35% ▼ -8.00%
• Median HH income: $61,493
• Composite: 28.11/100
• National rank: #6824
• State rank: #224 of 620 in IL

Livability — Manteno

• Score: 68/100
• State rank: #464
• US rank: #9604

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Manteno, IL
• Population (ZIP): 11,902

Population outlook (Kankakee County) Hauer SSP2

• Today (2025): 105,479 people
• By 2030: 101,792 · -3.5%
• By 2040: 93,479 · -11.4%
• By 2050: 85,061 · -19.4%
• By 2075: 67,314 · -36.2%
• By 2100: 52,439 · -50.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 7% Black 4% Two or more races 2% Native American 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 7% Lithuanian 5% Italian 2%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 3%

Political lean MEDSL · Kankakee

• 2024 margin: Strong R (+20.8) · D 38.7% · R 59.5% · Other 1.8%
• 2008→2024 swing: -25.4pp toward R · 2008: 4.6pp · 2024: -20.8pp
• All cycles: 2024: R+20.8 2020: R+16.5 2016: R+13.3 2012: R+3.4 2008: D+4.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -117.37%
• Current HPI: 174.986
• 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

1 event — show timeline

• 2026-06-18 Listed $179,000 MRED as Distributed by MLS Grid

Property tax history

+2.0%/yr

Latest (2025): $3,809 · +19.5% YoY. Source: county tax records.