303 Wagner St · Washington, IL 61571

$64,900

2 bd · 1.0 ba · 616 sqft · SingleFamily public records · 34 Days on market

Built 1947 0.28 ac 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 +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

AFFORDABLE HOME WITH MANY MAJOR UPDATES INCLUDING NEWER ROOF, SIDING, C/A, FURNACE, GARAGE DOOR, CARPET & MORE! PRICE REFLECTS NEED FOR SOME FINISHING WORK. POSSIBLE 2ND BDRM OR PLENTY OF ROOM TO ADD ON. LARGE FENCED LOT. BLACKTOP DRIVEWAY. ALL APPLIANCES REMAIN BUT NOT WARRANTED. EASY TO SHOW.

Key facts

• Fenced backyard
• 0.28 acre lot
• Garage

Tags

• FENCED BACKYARD
• ATTACHED 1-STALL GARAGE

Property features AI

Exterior

• Parking: Attached paved garage; 1 garage space
• Utilities: Public water; Public sewer
• Home design: Single family residence; Built in 1947; Single-story elements with additional upper, lower and basement levels
• Construction: Shingle roof; Not new construction; Crawl space / no full basement
• Exterior features: Level lot; Paved road access; Shingle roof

Interior

• Kitchen: Kitchen on main level; Vinyl flooring in kitchen
• Bedrooms: 1 bedroom (main level)
• Flooring: Carpet in bedroom; Vinyl flooring in kitchen; Other flooring in living room
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Cable available; No fireplaces
• Laundry & utility: Main level laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $407 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $63k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.8% vs local median 3.2% in Washington — 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 73/100 on livability (#272 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety F.
• District 50 Schools (suburban): math 12% / reading 11% proficiency, ranked #553 of 620 in IL (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 129 active listings in the ZIP; 77 units permitted in Tazewell County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Tazewell County population projected at -15% 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 $18k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 26y ago; this cycle's ask has dropped $5k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $49k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $62,953 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.79% ✓
• Cap rate: 13.81%
• Cash-on-cash: 26.85%
• DSCR: 2.19
• GRM: 4.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 20.8%
• Equity multiple: 1.85×
• Total profit: $15,434
• Equity at exit: $9,677

10-year hold

• IRR: 29.0%
• Equity multiple: 3.59×
• Total profit: $47,014
• Equity at exit: $5,611

Cash invested: $18,172 (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 61571

• Active inventory: 129
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,164 medium
• Mortgage (P&I): −$340
• Tax from tax record: −$145 /mo · $1,746/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$244
• Net cashflow: $407

Break-even live

Break-even rent $649

Max offer price $64,900

Occupancy floor 60%

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: $16,225
• Closing costs: $1,947
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $64,900 Active 34 DOM
2. 2026-06-17
   days on market $64,900 Active 33 DOM
3. 2026-06-16
   days on market $64,900 Active 32 DOM
4. 2026-06-16
   price $64,900 Active 31 DOM
5. 2026-06-15
   days on market $69,900 Active 31 DOM
6. 2026-06-13
   days on market $69,900 Active 29 DOM
7. 2026-06-12
   days on market $69,900 Active 28 DOM
8. 2026-06-09
   days on market $69,900 Active 25 DOM
9. 2026-06-08
   days on market $69,900 Active 24 DOM
10. 2026-06-07
    days on market $69,900 Active 23 DOM
11. 2026-06-05
    days on market $69,900 Active 21 DOM
12. 2026-06-04
    days on market $69,900 Active 19 DOM
13. 2026-06-02
    days on market $69,900 Active 18 DOM
14. 2026-06-01
    days on market $69,900 Active 17 DOM
15. 2026-05-31
    days on market $69,900 Active 16 DOM
16. 2026-05-31
    days on market $69,900 Active 15 DOM
17. 2026-05-15
    listed $69,900 Active
18. 2003-04-23
    soldstatus $49,000
19. 2000-10-02
    soldstatus $40,000
20. 2000-09-29
    soldstatus $40,000 299-char remark

    Show marketing remark (299 chars)

    AFFORDABLE HOME WITH MANY MAJOR UPDATES INCLUDING NEWER ROOF, SIDING, C/A, FURNACE, GARAGE DOOR, CARPET & MORE! PRICE REFLECTS NEED FOR SOME FINISHING WORK. POSSIBLE 2ND BDRM OR PLENTY OF ROOM TO ADD ON. LARGE FENCED LOT. BLACKTOP DRIVEWAY. ALL APPLIANCES REMAIN BUT NOT WARRANTED. EASY TO SHOW.

21. 2000-08-17
    listed $42,500 299-char remark

    Show marketing remark (299 chars)

    AFFORDABLE HOME WITH MANY MAJOR UPDATES INCLUDING NEWER ROOF, SIDING, C/A, FURNACE, GARAGE DOOR, CARPET & MORE! PRICE REFLECTS NEED FOR SOME FINISHING WORK. POSSIBLE 2ND BDRM OR PLENTY OF ROOM TO ADD ON. LARGE FENCED LOT. BLACKTOP DRIVEWAY. ALL APPLIANCES REMAIN BUT NOT WARRANTED. EASY TO SHOW.

ⓘ 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: $1,746 · $145/mo
• Projected year-2 tax: $1,746 · $145/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 ≥104°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: $13,966
• − Mortgage interest: −$3,635
• − Property taxes: −$1,746
• − Insurance: −$324
• − Repairs & maintenance: −$1,117
• − Management: −$1,117
• − Depreciation: −$1,888
• Taxable income: $4,138
• Est. tax owed @ 24.0%: −$993
• After-tax cash flow: $3,886/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: District 50 Schools
• NCES district ID: 1741010
• Math proficiency: 12% ▼ -2.00%
• Reading proficiency: 11% ▼ -7.00%
• Median HH income: $50,613
• Composite: 10.93/100
• National rank: #9748
• State rank: #553 of 620 in IL

Livability — Washington

• Score: 73/100
• State rank: #272
• US rank: #5136

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Washington, IL
• City population: 24,544
• Population (ZIP): 24,544

Population outlook (Tazewell County) Hauer SSP2

• Today (2025): 131,252 people
• By 2030: 128,028 · -2.5%
• By 2040: 120,443 · -8.2%
• By 2050: 111,872 · -14.8%
• By 2075: 89,843 · -31.5%
• By 2100: 66,468 · -49.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 3% Two or more races 3% Asian 1%
• Common ancestry: Lithuanian 4% Italian 3% Iranian 2%
• Foreign-born: 2% · Canada, China
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Tazewell

• 2024 margin: Strong R (+26.7) · D 35.8% · R 62.5% · Other 1.8%
• 2008→2024 swing: -20.6pp toward R · 2008: -6.0pp · 2024: -26.7pp
• All cycles: 2024: R+26.7 2020: R+25.6 2016: R+28.5 2012: R+17.9 2008: R+6.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -135.85%
• Current HPI: 149.5627
• 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

+64.5% since first listed

5 events — show timeline

• 2026-05-15 Listed $69,900 RMLSA as Distributed by MLS Grid
• 2003-04-23 Sold (Public Records) $49,000 Public Records
• 2000-10-02 Sold (Public Records) $40,000 Public Records
• 2000-09-29 Sold (MLS) $40,000 RMLSA as Distributed by MLS Grid
• 2000-08-17 Listed $42,500 RMLSA as Distributed by MLS Grid

Property tax history

+3.2%/yr

Latest (2024): $1,746 · +8.8% YoY. Source: county tax records.