595 N Henderson Rd · Freeport, IL 61032

$120,000

3 bd · 1.5 ba · 1,350 sqft · SingleFamily · 14 Days on market

Built 1900 1.25 ac lot Est $181k · 34% under

---

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 +25.9/30.0
• ARV discount +15.0/15.0
• DSCR +8.7/10.0
• 1% rule +6.8/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Beautiful 2 story country home on a 1.25 acre lot! 3 bedroom (2 upstairs, 1 downstairs), 1 full bath upstairs (newly updated), 1/2 bath downstairs. 1350 total square feet. New electrical/panel, central air, heating is natural gas, good well water (tested within last year), septic, newer water heater & water softener, most windows are new, steel roof, vinyl siding, pex & copper water lines. Newly refinished living room hardwood floor. 1 stall garage with cement floor, also has electric & steel roof. Quiet neighborhood. Long back yard, mini-orchard in back (apples, pear, plums). Plenty of space for a garden, pool, outdoor volleyball, bonfires, etc.

Key facts

• Good well water
• Natural gas heating
• 1.25 acre lot

Tags

• 1.25 ACRE LOT
• NEW ELECTRICAL PANEL
• CENTRAL AIR
• NATURAL GAS HEATING
• GOOD WELL WATER
• NEWER WATER HEATER

Property features AI

Exterior

• Home design: House
• Construction: Living area approximately 1,350
• Exterior features: Property sits on a 1.25-acre lot

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $297 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Cap rate 9.3% vs local median 5.8% in Freeport — 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 72/100 on livability (#302 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: schools F, commute F, employment F.
• Freeport SD 145 (town): math 11% / reading 12% proficiency, ranked #565 of 620 in IL (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 197 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; 7 units permitted in Stephenson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Stephenson County population projected at -29% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $61k; list at $120k implies a 98% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $120,000

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 1.18% ✓
• Cap rate: 9.26%
• Cash-on-cash: 10.60%
• DSCR: 1.47
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $180,900
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
593 N Henderson Rd	0.01mi	3/1.0	1,526 (+13%)	10mo	$43,959	$29	68
1165 N Henderson Rd	0.43mi	3/1.5	1,488 (+10%)	1mo	$200,000	$134	62

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: -0.4%
• Equity multiple: 0.98×
• Total profit: $-531
• Equity at exit: $17,892

10-year hold

• IRR: 9.3%
• Equity multiple: 1.71×
• Total profit: $23,938
• Equity at exit: $10,375

Cash invested: $33,600 (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 61032

• Home prices YoY: -19.5%
• Active inventory: 197
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,415 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$142 /mo · $1,703/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$297
• Net cashflow: $297

Break-even live

Break-even rent $1,040

Max offer price $120,000

Occupancy floor 74%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
435 N Apple Ave Freeport, IL	4.0	2.0	1500	$1,450	$0.97	43d	1	1.11mi
320 W Clark St Freeport, IL	4.0	1.0	1509	$1,395	$0.92	43d	1	1.13mi
810 E Shawnee St Freeport, IL	2.0	1.0	962	$1,495	$1.55	21d	1	1.42mi
816 S James Ave Freeport, IL	3.0	1.0	1152	$1,325	$1.15	43d	1	1.46mi

Listing history 11 events

1. 2026-06-18
   days on market $120,000 Active 14 DOM
2. 2026-06-17
   days on market $120,000 Active 13 DOM
3. 2026-06-16
   days on market $120,000 Active 12 DOM
4. 2026-06-15
   days on market $120,000 Active 11 DOM
5. 2026-06-13
   days on market $120,000 Active 9 DOM
6. 2026-06-12
   days on market $120,000 Active 8 DOM
7. 2026-06-09
   days on market $120,000 Active 5 DOM
8. 2026-06-08
   days on market $120,000 Active 4 DOM
9. 2026-06-07
   days on market $120,000 Active 3 DOM
10. 2026-06-07
    remarks 661-char remark
11. 2026-06-07
    listed $120,000 Active 2 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: $1,703 · $142/mo
• Projected year-2 tax: $2,214 · $184/mo
• Expected delta: +$510/yr (+$43/mo · 30.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,981
• − Mortgage interest: −$6,722
• − Property taxes: −$1,703
• − Insurance: −$600
• − Repairs & maintenance: −$1,358
• − Management: −$1,358
• − Depreciation: −$3,491
• Taxable income: $1,748
• Est. tax owed @ 24.0%: −$420
• After-tax cash flow: $3,141/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: Freeport SD 145
• NCES district ID: 1715900
• Math proficiency: 11% ▼ -3.00%
• Reading proficiency: 12% ▼ -5.00%
• Median HH income: $39,803
• Composite: 9.89/100
• National rank: #9821
• State rank: #565 of 620 in IL

Livability — Freeport

• Score: 72/100
• State rank: #302
• US rank: #5927

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 29,072

Population outlook (Stephenson County) Hauer SSP2

• Today (2025): 41,802 people
• By 2030: 39,487 · -5.5%
• By 2040: 34,534 · -17.4%
• By 2050: 29,693 · -29.0%
• By 2075: 21,196 · -49.3%
• By 2100: 14,596 · -65.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Black 12% Two or more races 10% Hispanic / Latino 6% Asian 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Iranian 3% Romanian 2% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3% Other Indo-European 1%

Political lean MEDSL · Stephenson

• 2024 margin: R (+19.4) · D 39.5% · R 58.9% · Other 1.6%
• 2008→2024 swing: -26.1pp toward R · 2008: 6.7pp · 2024: -19.4pp
• All cycles: 2024: R+19.4 2020: R+15.7 2016: R+17.0 2012: R+4.6 2008: D+6.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -39.75%
• Current HPI: 163.677
• 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

+97.9% since first listed

2 events — show timeline

• 2026-06-04 Listed $120,000 ForSaleByOwner.com
• 2011-11-23 Sold (Public Records) $60,630 Public Records

Property tax history

+4.0%/yr

Latest (2024): $1,703 · +12.7% YoY. Source: county tax records.