88 State · Eldred, IL 62027

$74,900

2 bd · 2.0 ba · 1,064 sqft · Other · 5 Days on market

Built 1940 Fair condition

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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
• DSCR +10.0/10.0
• Appreciation +8.5/10.0
• 1% rule +8.0/10.0
• ARV discount +7.5/15.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Schools +2.3/10.0
• Condition / age +2.2/5.0

Listing remarks

Looking for a cute home in a quiet location on the outskirts of Eldred only three miles from the Illinois River? We have just the property for you! Tucked away with a beautiful view of the bluff, this 2 bedroom (with possibility of converting utility room back to a 3rd bedroom), 2 bathroom home with a partial basement is subject to little traffic making for a very peaceful setting. A couple favorite elements of this property are the good-sized yard and great fireplace setup. Check out this exceptional starter home or downsize opportunity.

Key facts

• Good-sized yard
• Parking
• Built 1940

Tags

• GOOD-SIZED YARD
• GREAT FIREPLACE SETUP

Property features AI

Exterior

• Parking: Carport (1 space)
• Utilities: Community water; Septic tank; Electric service by Ameren; Natural gas connected
• Home design: Single-family residence; One level
• Construction: Vinyl siding
• Exterior features: Secluded lot

Interior

• Kitchen: Main-level kitchen (approx. 18 x 12)
• Bedrooms: 2 bedrooms, both on the main level
• Bathrooms: 2 full bathrooms, both on the main level
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Partial basement; Fireplace (1)
• Laundry & utility: Utility room on main level (approx. 11 x 10)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $75k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $319 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($977 rent vs $75k).

Location & tenants

• Location reads 53/100 on livability (#1,297 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime D, employment D, amenities 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.
• Zoned schools: Carrollton High School (math 24% / reading 15%, grade F, #379 of 693 statewide, top 57%, 181 students, 0% FRL) — zoned schools average 0% FRL vs 42% district-wide (42 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 2 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 $6k of equity ($518 loan paydown + $5k appreciation (7.0% 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 (7.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

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

Risks & watch-outs

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

Recommended offer $74,900

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 1940 — 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: 1.30% ✓
• Cap rate: 11.41%
• Cash-on-cash: 18.28%
• DSCR: 1.81
• GRM: 6.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.97% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 32.4%
• Equity multiple: 3.21×
• Total profit: $46,331
• Equity at exit: $51,751

10-year hold

• IRR: 29.5%
• Equity multiple: 6.69×
• Total profit: $119,409
• Equity at exit: $98,166

Cash invested: $20,972 (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 62027

• Home prices YoY: 5.8%
• Active inventory: 2
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $977 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$28 /mo · $342/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$205
• Net cashflow: $319

Break-even live

Break-even rent $573

Max offer price $74,900

Occupancy floor 62%

Sensitivity live

Price	-10% $362	-5% $341	+0% $319	+5% $298	+10% $277
Rent	-10% $242	-5% $281	+0% $319	+5% $358	+10% $397
Rate	-1.0pp $357	-0.5pp $338	base $319	+0.5pp $300	+1.0pp $280

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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-09
   status $74,900 Pending 5 DOM
2. 2026-06-08
   days on market $74,900 Active 5 DOM
3. 2026-06-07
   days on market $74,900 Active 4 DOM
4. 2026-06-04
   remarks 544-char remark
5. 2026-06-04
   listed $74,900 Active 1 DOM

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

Tax reassessment forecast IL · Partial reset (capped growth)

• Current annual tax: $342 · $28/mo
• Projected year-2 tax: $1,021 · $85/mo
• Expected delta: +$679/yr (+$57/mo · 198.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $11,725
• − Mortgage interest: −$4,196
• − Property taxes: −$342
• − Insurance: −$374
• − Repairs & maintenance: −$938
• − Management: −$938
• − Depreciation: −$2,179
• Taxable income: $2,758
• Est. tax owed @ 24.0%: −$662
• After-tax cash flow: $3,171/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

Fair 45/100 Moderate rehab

This home requires moderate renovations to improve its curb appeal and living space. Updates to the exterior and interior will significantly increase its resale and rental value.

Repairs flagged

• Minor exterior siding — Some discoloration
• Major flooring — Worn carpet
• Minor interior walls — Some wear

Value-add opportunities

• Resale Paint exterior — Enhances curb appeal
• Resale Replace carpet — Improves living space appearance
• Both Update kitchen cabinets — Modernizes space and adds value
• Both Update bathrooms — Modernizes space and adds value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Some discoloration	Minor	$500–3,000
flooring · Worn carpet	Major	$15,000–50,000
interior walls · Some wear	Minor	$500–3,000
Total estimated repair cost · 3 items		$16,000–56,000

Value-add ROI direction

• Resale Paint exterior — Enhances curb appeal ↑
• Resale Replace carpet — Improves living space appearance ↑
• Both Update kitchen cabinets — Modernizes space and adds value ↑
• Both Update bathrooms — Modernizes space and adds 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: 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 — Eldred

• Score: 53/100
• State rank: #1297
• US rank: #24606

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 517

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 (97%)
• Race & ethnicity: White 97%
• Common ancestry: Romanian 1% Russian 1%
• Foreign-born: 1%
• Languages at home: 99% English-only · Russian/Polish/Slavic 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: ▲ 6.97%
• Current HPI: 126.8008
• 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

• 2026-06-03 Listed $74,900 MARIS as Distributed by MLS Grid

Property tax history

-4.5%/yr

Latest (2024): $342 · -49.3% YoY. Source: county tax records.