515 S Market St · Hoopeston, IL 60942

$9,900

2 bd · 1.0 ba · 734 sqft · Land · 60 Days on market

Built 1955 2,500 sqft lot ↓ 59% since listing

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• Appreciation +6.4/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0

Listing remarks

2-bedroom, 1-bath home in Hoopeston, IL, in need of significant repairs and updates. Property includes an adjacent vacant lot, offering potential for expansion or investment. Perfect for buyers looking for a fixer-upper opportunity in a central location. Zoned Heavy Industrial and city will allow it to be used for anything from Heavy Industrial and below down to single family residential, so lots of opportunity for any use. The property is sold As-Is, Where-Is. Seller has no knowledge, buyer should perform their due diligence and make their own assessments.

Key facts

• Central location
• 2,500 sq ft lot
• Built 1955

Tags

• POTENTIAL FOR EXPANSION
• ZONED HEAVY INDUSTRIAL
• CENTRAL LOCATION

Property features AI

Finance

• HOA & community: No master association fees required

Exterior

• Utilities: Public water; Public sewer
• Home design: Detached single-family home; One-story; Fee simple ownership; Built before 1978 (older/established home)
• Construction: Steel siding; Approximately 71–80 years old
• Exterior features: Lot roughly 50 x 50; Lot smaller than 0.25 acre; No zero lot line

Interior

• Kitchen: Kitchen on main level
• Bedrooms: Two bedrooms (including a main-level master bedroom)
• Flooring: Other flooring in kitchen and living areas
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Four total rooms
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath land listed at $10k.

Deal economics

• At list price, monthly cash flow is $476 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($685 rent vs $10k).
• Recommended offer: $10k (3.0% below list) — sets the bar for market timing.
• Cap rate 64.0% vs local median 7.3% in Hoopeston — 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 57/100 on livability (#1,152 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B+; Watch: crime D+, amenities F, commute F.
• Hoopeston Area CUSD 11 (town): math 9% / reading 15% proficiency, ranked #559 of 620 in IL (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Maple Elem School (311 students, 0% FRL); Hoopeston Area Middle School (math 5% / reading 11%, grade F, #608 of 665 statewide, top 92%, 249 students, 0% FRL); Hoopeston Area High School (math 17% / reading 17%, grade F, #430 of 693 statewide, top 66%, 338 students, 0% FRL) — zoned schools average 0% FRL vs 58% district-wide (58 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 41 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 8 units permitted in Vermilion County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $342 of equity ($68 loan paydown + $274 appreciation (2.8% local appreciation)).
• Vermilion County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.8% appreciation + 3.0% rent growth), your $3k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($10k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $3k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $9,603 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 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 1955 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 6.92% ✓
• Cap rate: 64.01%
• Cash-on-cash: 206.14%
• DSCR: 10.17
• GRM: 1.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.77% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 12.33×
• Total profit: $31,410
• Equity at exit: $4,324

10-year hold

• IRR: —
• Equity multiple: 26.06×
• Total profit: $69,475
• Equity at exit: $6,566

Cash invested: $2,772 (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 60942

• Home prices YoY: 1.4%
• Active inventory: 41
• Price-to-rent: 1.2×

Monthly cashflow live

• Estimated rent: $685 medium
• Mortgage (P&I): −$52
• Tax from tax record: −$9 /mo · $111/yr
• Insurance: −$4
• HOA: −$0
• Vacancy / Maint / Mgmt: −$144
• Net cashflow: $476

Break-even live

Break-even rent $83

Max offer price $9,900

Occupancy floor 26%

Sensitivity live

Price	-10% $482	-5% $479	+0% $476	+5% $473	+10% $471
Rent	-10% $422	-5% $449	+0% $476	+5% $503	+10% $530
Rate	-1.0pp $481	-0.5pp $479	base $476	+0.5pp $474	+1.0pp $471

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: $2,475
• Closing costs: $297
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
422 E Seminary Ave Unit 13 Hoopeston, IL	2.0	1.0	750	$675	$0.90	15d	1	0.45mi
504 E Honeywell Ave Unit 1 Hoopeston, IL	1.0	1.0	650	$699	$1.08	45d	1	0.53mi

Listing history 24 events

1. 2026-06-21
   days on market $9,900 Active 60 DOM
2. 2026-06-21
   days on market $9,900 Active 59 DOM
3. 2026-06-18
   days on market $9,900 Active 57 DOM
4. 2026-06-17
   days on market $9,900 Active 56 DOM
5. 2026-06-16
   days on market $9,900 Active 55 DOM
6. 2026-06-15
   days on market $9,900 Active 54 DOM
7. 2026-06-13
   days on market $9,900 Active 52 DOM
8. 2026-06-12
   days on market $9,900 Active 51 DOM
9. 2026-06-09
   days on market $9,900 Active 48 DOM
10. 2026-06-08
    days on market $9,900 Active 47 DOM
11. 2026-06-07
    days on market $9,900 Active 46 DOM
12. 2026-06-07
    days on market $9,900 Active 45 DOM
13. 2026-06-04
    days on market $9,900 Active 42 DOM
14. 2026-06-02
    days on market $9,900 Active 41 DOM
15. 2026-06-01
    days on market $9,900 Active 40 DOM
16. 2026-05-31
    days on market $9,900 Active 39 DOM
17. 2026-05-31
    days on market $9,900 Active 38 DOM
18. 2026-04-22
    listed $12,900 Active 567-char remark
19. 2026-03-25
    historical
20. 2026-02-03
    price
21. 2026-01-02
    listed Active
22. 2012-02-14
    soldstatus $12,762
23. 2007-03-23
    soldstatus $41,000
24. 1999-04-28
    soldstatus $24,000

ⓘ 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: $111 · $9/mo
• Projected year-2 tax: $168 · $14/mo
• Expected delta: +$57/yr (+$5/mo · 51.1%)

ⓘ 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 ≥103°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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $8,225
• − Mortgage interest: −$555
• − Property taxes: −$111
• − Insurance: −$50
• − Repairs & maintenance: −$658
• − Management: −$658
• − Depreciation: −$288
• Taxable income: $5,906
• Est. tax owed @ 24.0%: −$1,417
• After-tax cash flow: $4,297/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: Hoopeston Area CUSD 11
• NCES district ID: 1719660
• Math proficiency: 9% ▼ -7.00%
• Reading proficiency: 15% ▼ -3.00%
• Median HH income: $40,897
• Composite: 10.39/100
• National rank: #9786
• State rank: #559 of 620 in IL

Livability — Hoopeston

• Score: 57/100
• State rank: #1152
• US rank: #21789

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hoopeston, IL
• City population: 5,635
• Population (ZIP): 5,635

Population outlook (Vermilion County) Hauer SSP2

• Today (2025): 72,775 people
• By 2030: 69,235 · -4.9%
• By 2040: 62,360 · -14.3%
• By 2050: 55,539 · -23.7%
• By 2075: 40,606 · -44.2%
• By 2100: 26,985 · -62.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 5% Two or more races 4% Black 2% Asian 1%
• Common ancestry: Portuguese 4% Slovak 2% Italian 2%
• Foreign-born: 1% · Canada, South Korea
• Languages at home: 96% English-only · Spanish 4% Other Indo-European 1%

Political lean MEDSL · Vermilion

• 2024 margin: Solid R (+35.7) · D 31.4% · R 67.0% · Other 1.6%
• 2008→2024 swing: -36.2pp toward R · 2008: 0.6pp · 2024: -35.7pp
• All cycles: 2024: R+35.7 2020: R+32.9 2016: R+29.2 2012: R+15.7 2008: D+0.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.77%
• Current HPI: 193.4089
• 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

-58.8% since first listed

8 events — show timeline

• 2026-05-26 Price Changed $9,900 MRED as Distributed by MLS Grid
• 2026-04-22 Listed $12,900 MRED as Distributed by MLS Grid
• 2026-03-25 Listing Removed — MRED as Distributed by MLS Grid
• 2026-02-03 Price Changed — MRED as Distributed by MLS Grid
• 2026-01-02 Listed — MRED as Distributed by MLS Grid
• 2012-02-14 Sold (Public Records) $12,762 Public Records
• 2007-03-23 Sold (Public Records) $41,000 Public Records
• 1999-04-28 Sold (Public Records) $24,000 Public Records

Property tax history

-0.9%/yr

Latest (2024): $111 · +8.0% YoY. Source: county tax records.