406 E North St · Danvers, IL 61732

$99,900

3 bd · 1.0 ba · 954 sqft · SingleFamily public records · 10 Days on market

Built 1874 7,200 sqft lot $105/sqft · 38% below area Est $160k · 38% under

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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 +17.9/30.0
• ARV discount +15.0/15.0
• 1% rule +5.6/10.0
• DSCR +5.6/10.0
• Livability +3.5/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Tons of potential in this 1.5 story on North street in Danvers. First floor primary and laundry. 2nd floor has 2 bedrooms. Oversized 2 car detached garage and large corner lot. This house needs some love and it will be back to it's truest potential. Danvers is just 6 miles from Bloomington. Visit Danvers Vault, Fast stop or the library in just minutes. Property being sold "as is" condition.

Key facts

• Large corner lot
• First floor primary
• 7,200 sq ft lot

Tags

• FIRST FLOOR PRIMARY
• LARGE CORNER LOT
• 6 MILES FROM BLOOMINGTON
• MINUTES FROM DANVERS VAULT

Property features AI

Finance

• Other: Possession at closing; Earnest money is held
• Financial info: Special service area: No
• HOA & community: Master association fee not required

Exterior

• Parking: Detached garage providing 2 garage spaces (2 total parking spaces)
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; 1.5-story design; Fee simple ownership; Property over 100 years old
• Construction: Aluminum siding; Approximately 954 total square feet (assessor); About 558 sq ft on main level and 396 sq ft upper level; Unfinished basement space (approximately 558); Built before 1978
• Exterior features: Lot dimensions approximately 60 x 120; Lot is less than 0.25 acre; Gated community feature

Interior

• Kitchen: Kitchen with eating area / table space
• Bedrooms: Three bedrooms (master and one bedroom on main level; two additional bedrooms on second level)
• Flooring: Carpet in living room and master bedroom; Laminate flooring in one upstairs bedroom; Linoleum in kitchen; Vinyl in utility room
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas heating; Central air conditioning; Window air conditioning unit(s)
• Interior features: Five total rooms; Cellar basement
• Laundry & utility: Main-level laundry room / utility (approximately 5 x 10); Separate utility room on main level (approximately 5 x 15)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $85 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).

Location & tenants

• Location reads 69/100 on livability (#429 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Olympia CUSD 16 (rural): math 29% / reading 30% proficiency, ranked #237 of 620 in IL (top 38%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Olympia South Elem Sch (math 22% / reading 37%, grade F, #658 of 2,056 statewide, top 35%, 327 students, 0% FRL); Olympia Middle School (math 26% / reading 26%, grade F, #318 of 665 statewide, top 48%, 386 students, 0% FRL); Olympia High School (math 32% / reading 32%, grade F, #157 of 693 statewide, top 25%, 503 students, 0% FRL) — zoned schools average 0% FRL vs 30% district-wide (30 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 8 active listings in the ZIP; 247 units permitted in McLean County in 2024 (54 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1874 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $99,900

Questions for the listing agent

1. Built in 1874 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.06% ✓
• Cap rate: 7.31%
• Cash-on-cash: 3.64%
• DSCR: 1.16
• GRM: 7.9

CMA / ARV

• ARV (median comp): $160,209
• List price: $99,900
• Delta: -37.64%
• Verdict: UNDERPRICED
• Comps: 13 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
406 E North St	0.00mi	3/1.0	954 (0%)	1mo	$112,000	$117	99
112 W Columbia St	0.30mi	3/1.0	1,006 (+6%)	14mo	$137,000	$136	65

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: -10.5%
• Equity multiple: 0.62×
• Total profit: $-10,738
• Equity at exit: $14,895

10-year hold

• IRR: -1.1%
• Equity multiple: 0.92×
• Total profit: $-2,190
• Equity at exit: $8,638

Cash invested: $27,972 (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 61732

• Home prices YoY: -20.9%
• Active inventory: 8
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,055 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$183 /mo · $2,199/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$222
• Net cashflow: $85

Break-even live

Break-even rent $948

Max offer price $99,900

Occupancy floor 87%

Sensitivity live

Price	-10% $141	-5% $113	+0% $85	+5% $56	+10% $28
Rent	-10% $1	-5% $43	+0% $85	+5% $126	+10% $168
Rate	-1.0pp $135	-0.5pp $110	base $85	+0.5pp $59	+1.0pp $33

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-05-16
   status Pending 407-char remark
2. 2026-05-12
   historical Contingent - No Showings 407-char remark
3. 2026-05-05
   listed $99,900 Active 407-char remark
4. 1995-10-01
   soldstatus $63,000
5. 1994-02-01
   soldstatus $62,000

ⓘ 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: $2,199 · $183/mo
• Projected year-2 tax: $2,233 · $186/mo
• Expected delta: +$34/yr (+$3/mo · 1.6%)

ⓘ 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 ≥106°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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,661
• − Mortgage interest: −$5,596
• − Property taxes: −$2,199
• − Insurance: −$500
• − Repairs & maintenance: −$1,013
• − Management: −$1,013
• − Depreciation: −$2,906
• Taxable loss: −$565
• Est. tax savings @ 24.0%: +$136
• After-tax cash flow: $1,153/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: Olympia CUSD 16
• NCES district ID: 1729890
• Math proficiency: 29% ▼ -4.00%
• Reading proficiency: 30% ▼ -4.00%
• Median HH income: $62,002
• Composite: 26.94/100
• National rank: #7081
• State rank: #237 of 620 in IL

Livability — Danvers

• Score: 69/100
• State rank: #429
• US rank: #8804

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: Danvers, IL
• Population (ZIP): 2,089

Population outlook (McLean County) Hauer SSP2

• Today (2025): 176,468 people
• By 2030: 178,002 · +0.9%
• By 2040: 178,592 · +1.2%
• By 2050: 177,090 · +0.4%
• By 2075: 173,224 · -1.8%
• By 2100: 158,425 · -10.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 9%
• Common ancestry: Romanian 6% Italian 5% Lithuanian 3%
• Foreign-born: 0%

Political lean MEDSL · McLean

• 2024 margin: Toss-up / Even · D 51.6% · R 46.8% · Other 1.6%
• 2008→2024 swing: +3.7pp toward D · 2008: 1.2pp · 2024: 4.9pp
• All cycles: 2024: D+4.9 2020: D+3.9 2016: R+1.5 2012: R+11.1 2008: D+1.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -52.43%
• Current HPI: 197.8062
• 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

+80.6% since first listed

6 events — show timeline

• 2026-05-29 Sold (MLS) $112,000 MRED as Distributed by MLS Grid
• 2026-05-16 Pending — MRED as Distributed by MLS Grid
• 2026-05-12 Contingent — MRED as Distributed by MLS Grid
• 2026-05-05 Listed $99,900 MRED as Distributed by MLS Grid
• 1995-10-01 Sold (Public Records) $63,000 Public Records
• 1994-02-01 Sold (Public Records) $62,000 Public Records

Property tax history

+4.1%/yr

Latest (2024): $2,199 · +3.3% YoY. Source: county tax records.