117 S Chestnut St · Kewanee, IL 61443

$49,900

3 bd · 0.5 ba · 1,924 sqft · SingleFamily · 5 Days on market

Built 1857 Poor condition 7,840 sqft lot

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Why this score? — see what drove the B- 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Schools +1.2/10.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks

Last Purchased in 1965. This Victorian House has been used as a Law Office for 60 years and was a Dentist office before that. Excellent Location on South Chestnut with alley access in the rear. Use your imagination - Single Family, Duplex, office space - can be remodeled into whatever space you are looking for. New Roof in 2024

Key facts

• Victorian house
• Alley access
• Excellent location

Tags

• VICTORIAN HOUSE
• EXCELLENT LOCATION
• ALLEY ACCESS
• NEW ROOF

Property features AI

Finance

• HOA & community: No master association fee required

Exterior

• Utilities: Public water; Public sewer
• Home design: Detached single-family home; Two-story
• Construction: Frame construction; Brick/mortar foundation; Asphalt roof; Property over 100 years old; Built before 1978
• Exterior features: Level lot; Lot dimensions approximately 54 x 150

Interior

• Kitchen: Kitchen on main level (14 x 12), vinyl flooring
• Bedrooms: Master bedroom on second level (14 x 17), carpeted; Second bedroom on second level (10 x 10), carpeted; Third bedroom on second level (15 x 12), carpeted
• Flooring: Carpet in most living areas and bedrooms; Vinyl flooring in kitchen
• Bathrooms: One half bathroom
• Heating & cooling: Natural gas heating; Window air conditioning units
• Interior features: 7 total rooms; Crawl space basement
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/0.5-bath single-family listed at $50k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $659 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Cap rate 22.1% vs local median 8.6% in Kewanee — 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 69/100 on livability (#409 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: crime D-, amenities F, commute F.
• Kewanee CUSD 229 (town): math 8% / reading 20% proficiency, ranked #540 of 620 in IL (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Belle Alexander Elem School (254 students, 0% FRL); Central Elem (math 5% / reading 15%, grade F, #583 of 665 statewide, top 89%, 344 students, 0% FRL); Kewanee High School (math 8% / reading 17%, grade F, #506 of 693 statewide, top 74%, 581 students, 0% FRL) — zoned schools average 0% FRL vs 73% district-wide (73 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 39 active listings in the ZIP; 32 units permitted in Henry County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $345 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Henry County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1857 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $49,900

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1857 — 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. 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?
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 2.55% ✓
• Cap rate: 22.14%
• Cash-on-cash: 56.60%
• DSCR: 3.52
• GRM: 3.3

CMA / ARV

• ARV (on-the-fly): $113,516
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
509 E 2nd St	0.51mi	3/1.0	1,852 (-4%)	6mo	$99,000	$53	63
407 Ross St	0.46mi	3/1.0	1,779 (-8%)	6mo	$74,000	$42	59
513 N Lexington Ave	0.41mi	3/1.0	2,008 (+4%)	18mo	$25,000	$12	56
215 W Prospect St	0.33mi	4/2.5 (+1)	2,098 (+9%)	2mo	$240,000	$114	55
525 S Chestnut St	0.38mi	4/1.5 (+1)	2,068 (+8%)	10mo	$77,500	$37	53
513 N Lexington Ave	0.41mi	3/1.0	1,696 (-12%)	18mo	$25,000	$15	44
425 Rockwell St	0.46mi	4/2.0 (+1)	2,052 (+7%)	17mo	$130,000	$63	42
527 Elliott St	0.41mi	3/1.5	1,638 (-15%)	14mo	$134,000	$82	41
111 Mckinley Ave	0.45mi	2/1.0 (-1)	1,690 (-12%)	17mo	$100,000	$59	38
837 Beach St	0.65mi	3/1.5	1,639 (-15%)	4mo	$120,000	$73	38
418 E Division St	0.72mi	3/2.0	1,684 (-12%)	5mo	$125,000	$74	36
802 E 2nd St	0.70mi	3/2.0	1,680 (-13%)	12mo	$62,000	$37	30

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: 55.0%
• Equity multiple: 3.43×
• Total profit: $33,909
• Equity at exit: $7,440

10-year hold

• IRR: 60.1%
• Equity multiple: 6.99×
• Total profit: $83,655
• Equity at exit: $4,314

Cash invested: $13,972 (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 61443

• Active inventory: 39
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $1,271 medium
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $748/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$267
• Net cashflow: $659

Break-even live

Break-even rent $437

Max offer price $49,900

Occupancy floor 43%

Sensitivity live

Price	-10% $694	-5% $676	+0% $659	+5% $642	+10% $625
Rent	-10% $559	-5% $609	+0% $659	+5% $709	+10% $759
Rate	-1.0pp $684	-0.5pp $672	base $659	+0.5pp $646	+1.0pp $633

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-22
   days on market $49,900 Active 5 DOM
2. 2026-06-21
   days on market $49,900 Active 4 DOM
3. 2026-06-21
   days on market $49,900 Active 3 DOM
4. 2026-06-17
   remarks 330-char remark
5. 2026-06-17
   listed $49,900 Active 1 DOM

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

Taxation est. · year 1

• Rental income: $15,249
• − Mortgage interest: −$2,795
• − Property taxes: −$748
• − Insurance: −$250
• − Repairs & maintenance: −$1,220
• − Management: −$1,220
• − Depreciation: −$1,452
• Taxable income: $7,564
• Est. tax owed @ 24.0%: −$1,815
• After-tax cash flow: $6,093/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.

Condition & rehab AI · 12 photos

Poor 20/100 Extensive rehab

This Victorian house requires extensive repairs and updates to bring it up to modern standards and improve its resale and rental value.

Repairs flagged

• Major siding — Worn and peeling
• Major paint — Peeling and worn
• Major flooring — Worn and carpeted
• Major interior walls — Peeling wallpaper and worn paint
• Major HVAC/mechanicals — No visible systems

Value-add opportunities

• Both New siding and paint — Enhances curb appeal and interior aesthetics
• Both New flooring — Improves living space and resale value
• Both New HVAC system — Enhances comfort and energy efficiency
• Both Landscaping and curb appeal — Improves overall appearance and resale value

Renovation cost estimate screening

Repair item	Severity	Est. cost
siding · Worn and peeling	Major	$15,000–50,000
paint · Peeling and worn	Major	$15,000–50,000
flooring · Worn and carpeted	Major	$15,000–50,000
interior walls · Peeling wallpaper and worn paint	Major	$15,000–50,000
HVAC/mechanicals · No visible systems	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both New siding and paint — Enhances curb appeal and interior aesthetics ↑
• Both New flooring — Improves living space and resale value ↑
• Both New HVAC system — Enhances comfort and energy efficiency ↑
• Both Landscaping and curb appeal — Improves overall appearance and resale value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Kewanee CUSD 229
• NCES district ID: 1721000
• Math proficiency: 8% ▼ -8.00%
• Reading proficiency: 20% ▼ -12.00%
• Median HH income: $38,294
• Composite: 11.77/100
• National rank: #9682
• State rank: #540 of 620 in IL

Livability — Kewanee

• Score: 69/100
• State rank: #409
• US rank: #8423

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kewanee, IL
• Population (ZIP): 13,529

Population outlook (Henry County) Hauer SSP2

• Today (2025): 47,376 people
• By 2030: 45,920 · -3.1%
• By 2040: 42,829 · -9.6%
• By 2050: 39,606 · -16.4%
• By 2075: 31,848 · -32.8%
• By 2100: 23,503 · -50.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Hispanic / Latino 11% Black 6% Two or more races 5%
• Hispanic origin (detail): Mexican 9% Puerto Rican 1%
• Common ancestry: Romanian 4% English 3% Italian 3%
• Foreign-born: 3% · Canada
• Languages at home: 92% English-only · Spanish 7%

Political lean MEDSL · Henry

• 2024 margin: Strong R (+24.5) · D 36.8% · R 61.3% · Other 1.9%
• 2008→2024 swing: -32.2pp toward R · 2008: 7.7pp · 2024: -24.5pp
• All cycles: 2024: R+24.5 2020: R+21.4 2016: R+21.2 2012: D+3.1 2008: D+7.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -68.32%
• Current HPI: 121.8672
• 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

• 2026-06-17 Listed $49,900 MRED as Distributed by MLS Grid