98 SW 200` Ave · Carrollton, IL 62016

$119,000

4 bd · 1.0 ba · 1,428 sqft · Other · 118 Days on market

Built 1940 0.80 ac lot ↓ 8% since listing

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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 +21.2/30.0
• ARV discount +7.5/15.0
• DSCR +6.8/10.0
• Appreciation +6.5/10.0
• 1% rule +4.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Listing remarks MLS

Wide open fields welcome you home at 98 SW 200 Avenue, Carrollton! An easy two-miles from town, this rural homestead is conveniently-located along a blacktop road while providing the seclusion you seek. Situated on a 0.80 acre parcel, there is plenty of room to further expand the square footage of the home, build a new garage or shop, or plant a nice garden. The current floorplan includes 4 bedrooms and 1 bathroom. Sellers began demo efforts before the opportunity to purchase a tract near their family land became available. Take advantage of the sweat equity they’ve invested and enjoy this blank slate. The home has the charm of a true farmhouse with original hardwood floors and scenic views. Come see if this great country location is the place for you!

Key facts

• 0.80 acre parcel
• Scenic views
• 0.8 acre lot

Tags

• 0.80 ACRE PARCEL
• ORIGINAL HARDWOOD FLOORS
• SCENIC VIEWS
• GREAT COUNTRY LOCATION

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath other listed at $119k.

Deal economics

• At list price, monthly cash flow is $173 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $113k (4.9% below list).
• Recommended offer: $108k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#677 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D, amenities F, commute F.
• Carrollton CUSD 1 (rural): math 29% / reading 25% proficiency, ranked #288 of 620 in IL (top 46%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 18 active listings in the ZIP; 1 units permitted in Greene County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($823 loan paydown + $4k appreciation (3.1% local appreciation)).
• Greene County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.1% appreciation + 3.0% rent growth), your $33k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 118 days — a 9% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $30k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $108,290 (9.0% below list)

Questions for the listing agent

1. It's been on market 118 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 0.95% ✗
• Cap rate: 8.03%
• Cash-on-cash: 6.22%
• DSCR: 1.28
• GRM: 8.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.09% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 13.5%
• Equity multiple: 1.78×
• Total profit: $25,852
• Equity at exit: $54,109

10-year hold

• IRR: 15.3%
• Equity multiple: 3.28×
• Total profit: $75,878
• Equity at exit: $83,858

Cash invested: $33,320 (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 62016

• Home prices YoY: 2.0%
• Active inventory: 18
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,132 medium
• Mortgage (P&I): −$624
• Tax from tax record: −$48 /mo · $572/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$238
• Net cashflow: $173

Break-even live

Break-even rent $913

Max offer price $119,000

Occupancy floor 80%

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $119,000 Active 118 DOM
2. 2026-06-17
   days on market $119,000 Active 117 DOM
3. 2026-06-16
   days on market $119,000 Active 116 DOM
4. 2026-06-15
   days on market $119,000 Active 115 DOM
5. 2026-06-13
   days on market $119,000 Active 113 DOM
6. 2026-06-12
   days on market $119,000 Active 112 DOM
7. 2026-06-09
   days on market $119,000 Active 109 DOM
8. 2026-06-08
   days on market $119,000 Active 108 DOM
9. 2026-06-07
   days on market $119,000 Active 107 DOM
10. 2026-06-04
    days on market $119,000 Active 103 DOM
11. 2026-06-02
    days on market $119,000 Active 102 DOM
12. 2026-06-01
    days on market $119,000 Active 101 DOM
13. 2026-05-31
    days on market $119,000 Active 100 DOM
14. 2026-05-31
    days on market $119,000 Active 99 DOM
15. 2026-05-01
    price $119,000 768-char remark

    Show marketing remark (768 chars)

    Wide open fields welcome you home at 98 SW 200 Avenue, Carrollton! An easy two-miles from town, this rural homestead is conveniently-located along a blacktop road while providing the seclusion you seek. Situated on a 0.80 acre parcel, there is plenty of room to further expand the square footage of the home, build a new garage or shop, or plant a nice garden. The current floorplan includes 4 bedrooms and 1 bathroom. Sellers began demo efforts before the opportunity to purchase a tract near their family land became available. Take advantage of the sweat equity they’ve invested and enjoy this blank slate. The home has the charm of a true farmhouse with original hardwood floors and scenic views. Come see if this great country location is the place for you!

16. 2026-03-31
    price $139,000 768-char remark

    Show marketing remark (768 chars)

    Wide open fields welcome you home at 98 SW 200 Avenue, Carrollton! An easy two-miles from town, this rural homestead is conveniently-located along a blacktop road while providing the seclusion you seek. Situated on a 0.80 acre parcel, there is plenty of room to further expand the square footage of the home, build a new garage or shop, or plant a nice garden. The current floorplan includes 4 bedrooms and 1 bathroom. Sellers began demo efforts before the opportunity to purchase a tract near their family land became available. Take advantage of the sweat equity they’ve invested and enjoy this blank slate. The home has the charm of a true farmhouse with original hardwood floors and scenic views. Come see if this great country location is the place for you!

17. 2026-02-20
    listed $149,000 Active 768-char remark

    Show marketing remark (768 chars)

    Wide open fields welcome you home at 98 SW 200 Avenue, Carrollton! An easy two-miles from town, this rural homestead is conveniently-located along a blacktop road while providing the seclusion you seek. Situated on a 0.80 acre parcel, there is plenty of room to further expand the square footage of the home, build a new garage or shop, or plant a nice garden. The current floorplan includes 4 bedrooms and 1 bathroom. Sellers began demo efforts before the opportunity to purchase a tract near their family land became available. Take advantage of the sweat equity they’ve invested and enjoy this blank slate. The home has the charm of a true farmhouse with original hardwood floors and scenic views. Come see if this great country location is the place for you!

18. 2025-09-15
    soldstatus Closed 117-char remark

    Show marketing remark (117 chars)

    Charming traditional 2 story farmhouse in a rural setting just west of Carrollton. Just minutes from the town square.

19. 2025-07-09
    status Pending 117-char remark

    Show marketing remark (117 chars)

    Charming traditional 2 story farmhouse in a rural setting just west of Carrollton. Just minutes from the town square.

20. 2025-07-07
    listed $130,000 Active 117-char remark

    Show marketing remark (117 chars)

    Charming traditional 2 story farmhouse in a rural setting just west of Carrollton. Just minutes from the town square.

ⓘ 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: $572 · $48/mo
• Projected year-2 tax: $1,637 · $136/mo
• Expected delta: +$1,064/yr (+$89/mo · 186.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,580
• − Mortgage interest: −$6,666
• − Property taxes: −$572
• − Insurance: −$595
• − Repairs & maintenance: −$1,086
• − Management: −$1,086
• − Depreciation: −$3,462
• Taxable income: $112
• Est. tax owed @ 24.0%: −$27
• After-tax cash flow: $2,045/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: Carrollton CUSD 1
• NCES district ID: 1708610
• Math proficiency: 29% ▲ 5.00%
• Reading proficiency: 25% ▬ 0.00%
• Median HH income: $47,358
• Composite: 23.49/100
• National rank: #7872
• State rank: #288 of 620 in IL

Livability — Carrollton

• Score: 64/100
• State rank: #677
• US rank: #13841

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

• City population: 3,650
• Population (ZIP): 3,650

Population outlook (Greene County) Hauer SSP2

• Today (2025): 12,137 people
• By 2030: 11,467 · -5.5%
• By 2040: 10,117 · -16.6%
• By 2050: 8,804 · -27.5%
• By 2075: 6,187 · -49.0%
• By 2100: 4,175 · -65.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Lithuanian 2% Italian 1% Iranian 1%
• Foreign-born: 0%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Greene

• 2024 margin: Solid R (+57.8) · D 20.1% · R 78.0% · Other 1.9%
• 2008→2024 swing: -50.3pp toward R · 2008: -7.5pp · 2024: -57.8pp
• All cycles: 2024: R+57.8 2020: R+54.9 2016: R+53.0 2012: R+25.4 2008: R+7.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.09%
• Current HPI: 158.4231
• 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

-8.5% since first listed

6 events — show timeline

• 2026-05-01 Price Changed $119,000 MARIS as Distributed by MLS Grid
• 2026-03-31 Price Changed $139,000 MARIS as Distributed by MLS Grid
• 2026-02-20 Listed $149,000 MARIS as Distributed by MLS Grid
• 2025-09-15 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2025-07-09 Pending — MARIS as Distributed by MLS Grid
• 2025-07-07 Listed $130,000 MARIS as Distributed by MLS Grid

Property tax history

-0.8%/yr

Latest (2024): $572 · +0.9% YoY. Source: county tax records.