204 E Washington St · Marengo, IL 60152

$99,000

3 bd · 1.0 ba · 1,400 sqft · SingleFamily · 10 Days on market

Built 1846 8,712 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
• Schools +4.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Attention investors and rehabbers! Great opportunity in downtown Marengo with this 3 bedroom, 1 bathroom home with an attached 1-car garage. Property needs extensive work and is being sold as-is. The 2-story portion of the home has a basement, while the remaining areas have a crawl space. Use caution when entering/viewing the property. Cash only due to condition.

Key facts

• 8,712 sq ft lot
• Garage
• Built 1846

Property features AI

Finance

• Other: Property not currently leased; Possession at closing
• HOA & community: No master association fee required

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; 1.5-story layout; Fee simple ownership
• Construction: Over 100 years old; Built before 1978; Construction materials: Other
• Exterior features: Lot dimensions approximately 66 x 132; Lot smaller than 0.25 acre

Interior

• Kitchen: Kitchen on main level (approx. 13 x 15)
• Bedrooms: Three bedrooms (master and two additional bedrooms on second floor)
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating
• Interior features: Six total rooms; Unfinished partial basement with crawl space
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $822 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $99k).
• Cap rate 16.3% vs local median 4.2% in Marengo — 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 64/100 on livability (#708 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.
• Marengo Chsd 154 (town): math 40% / reading 45% proficiency, ranked #240 of 919 in IL (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Marengo High School (math 37% / reading 37%, grade F, #107 of 693 statewide, top 17%, 685 students, 0% FRL).
• Market conditions: 64 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 1,595 units permitted in McHenry County in 2024 (485 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $684 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• McHenry County population projected at -12% 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 $28k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $41k; list at $99k implies a 140% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.3% of price; built in 1846 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $99,000

Questions for the listing agent

1. Built in 1846 — 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: 2.22% ✓
• Cap rate: 16.26%
• Cash-on-cash: 35.60%
• DSCR: 2.58
• GRM: 3.8

CMA / ARV

• ARV (on-the-fly): $289,800
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
204 E Washington St	0.00mi	3/1.0	1,400 (0%)	0mo	$105,000	$75	100
425 Kishwaukee St	0.40mi	3/2.0	1,408 (+1%)	0mo	$305,000	$217	76
304 W Van Buren St	0.36mi	3/2.0	1,500 (+7%)	3mo	$310,000	$207	65
214 S Prospect St	0.57mi	4/2.0 (+1)	1,400 (0%)	0mo	$340,000	$243	64
211 1/2 E Forest St	0.35mi	3/3.0	1,540 (+10%)	1mo	$399,000	$259	58
1101 N State St	0.75mi	3/1.5	1,400 (0%)	7mo	$225,000	$161	57
615 2nd Ave	0.59mi	3/1.0	1,500 (+7%)	4mo	$75,000	$50	57
616 2nd Ave	0.62mi	3/2.0	1,500 (+7%)	1mo	$290,000	$193	54
607 2nd Ave	0.58mi	3/2.0	1,250 (-11%)	0mo	$287,000	$230	51
439 W Grant Hwy	0.36mi	2/2.0 (-1)	1,200 (-14%)	0mo	$271,000	$226	50
821 Diane Ct	0.72mi	3/1.0	1,230 (-12%)	1mo	$252,000	$205	46
1000 Ruth Ct	0.64mi	3/2.0	1,606 (+15%)	8mo	$317,000	$197	35

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: 31.3%
• Equity multiple: 2.32×
• Total profit: $36,507
• Equity at exit: $14,761

10-year hold

• IRR: 38.5%
• Equity multiple: 4.61×
• Total profit: $99,939
• Equity at exit: $8,560

Cash invested: $27,720 (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 60152

• Home prices YoY: -22.7%
• Active inventory: 64
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $2,198 medium
• Mortgage (P&I): −$519
• Tax from tax record: −$354 /mo · $4,246/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$462
• Net cashflow: $822

Break-even live

Break-even rent $1,157

Max offer price $99,000

Occupancy floor 58%

Sensitivity live

Price	-10% $878	-5% $850	+0% $822	+5% $794	+10% $766
Rent	-10% $649	-5% $735	+0% $822	+5% $909	+10% $996
Rate	-1.0pp $872	-0.5pp $848	base $822	+0.5pp $797	+1.0pp $771

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
479 Eisenhower St Unit A Marengo, IL	3.0	2.0	1300	$1,795	$1.38	0d	1	0.68mi
958 Partridge Cir Marengo, IL	2.0	2.0	1400	$2,195	$1.57	2d	1	0.87mi
739 Quail Ln Marengo, IL	2.0	2.5	1400	$2,195	$1.57	0d	1	0.93mi
1161 Foxglove Ln Marengo, IL	3.0	2.5	1800	$2,895	$1.61	3d	1	0.97mi

Listing history 5 events

1. 2026-05-21
   status Pending
2. 2026-05-20
   status Pending 365-char remark

   Show marketing remark (365 chars)

   Attention investors and rehabbers! Great opportunity in downtown Marengo with this 3 bedroom, 1 bathroom home with an attached 1-car garage. Property needs extensive work and is being sold as-is. The 2-story portion of the home has a basement, while the remaining areas have a crawl space. Use caution when entering/viewing the property. Cash only due to condition.

3. 2026-05-13
   listed $99,000 Active 365-char remark

   Show marketing remark (365 chars)

   Attention investors and rehabbers! Great opportunity in downtown Marengo with this 3 bedroom, 1 bathroom home with an attached 1-car garage. Property needs extensive work and is being sold as-is. The 2-story portion of the home has a basement, while the remaining areas have a crawl space. Use caution when entering/viewing the property. Cash only due to condition.

4. 2026-05-10
   listed $99,000 Active
5. 1983-02-01
   soldstatus $41,250

ⓘ 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: $4,246 · $354/mo
• Projected year-2 tax: $4,246 · $354/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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,379
• − Mortgage interest: −$5,546
• − Property taxes: −$4,246
• − Insurance: −$495
• − Repairs & maintenance: −$2,110
• − Management: −$2,110
• − Depreciation: −$2,880
• Taxable income: $8,991
• Est. tax owed @ 24.0%: −$2,158
• After-tax cash flow: $7,710/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: Marengo Chsd 154
• NCES district ID: 1724570
• Math proficiency: 40% ▼ -5.00%
• Reading proficiency: 45% ▲ 5.00%
• Median HH income: $65,606
• Composite: 40.37/100
• National rank: #7752
• State rank: #240 of 919 in IL

Livability — Marengo

• Score: 64/100
• State rank: #708
• US rank: #14374

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Marengo, IL
• Population (ZIP): 12,006

Population outlook (McHenry County) Hauer SSP2

• Today (2025): 305,342 people
• By 2030: 301,491 · -1.3%
• By 2040: 288,211 · -5.6%
• By 2050: 268,430 · -12.1%
• By 2075: 226,209 · -25.9%
• By 2100: 181,247 · -40.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 9% Two or more races 5%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Romanian 10% Portuguese 1% Italian 1%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 6% Russian/Polish/Slavic 1% German/W. Germanic 1%

Political lean MEDSL · McHenry

• 2024 margin: Lean R (+5.3) · D 46.6% · R 51.9% · Other 1.5%
• 2008→2024 swing: -10.6pp toward R · 2008: 5.3pp · 2024: -5.3pp
• All cycles: 2024: R+5.3 2020: R+2.5 2016: R+8.1 2012: R+8.8 2008: D+5.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -66.07%
• Current HPI: 224.4483
• 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

+140.0% since first listed

5 events — show timeline

• 2026-05-21 Pending — MRED as Distributed by MLS Grid
• 2026-05-20 Pending — NWIAR
• 2026-05-13 Listed $99,000 NWIAR
• 2026-05-10 Listed $99,000 MRED as Distributed by MLS Grid
• 1983-02-01 Sold (Public Records) $41,250 Public Records

Property tax history

+2.6%/yr

Latest (2024): $4,246 · +1.8% YoY. Source: county tax records.