471 Cedar St · Dallas City, IL 62330

$18,000

1 bd · 1.0 ba · 960 sqft · SingleFamily · 5 Days on market

Built 1920 5,227 sqft lot

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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 +5.2/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0

Listing remarks

Consider some remodeling/renovations to this property to make it a great rental investment or first home!! The one story home offers an enclosed front porch, living room, bedroom, large kitchen/dining room, laundry room, and a full bathroom. The exterior is partially masonite or shingled siding. There is a partial/unfinished basement. The property will be selling in "AS IS" condition.

Key facts

• Shingled siding
• Enclosed front porch
• 5,227 sq ft lot

Tags

• ENCLOSED FRONT PORCH
• LARGE KITCHEN DINING ROOM
• PARTIAL UNFINISHED BASEMENT
• PARTIALLY MASONITE SIDING
• SHINGLED SIDING

Property features AI

Finance

• Other: Lot dimensions approximately 54 x 100; Zoning: Other

Exterior

• Utilities: Public water
• Home design: Detached single-family home; One-story
• Construction: Masonite and other construction materials; Asphalt roof
• Exterior features: Front porch

Interior

• Kitchen: Eating area
• Bedrooms: 1 bedroom (main level)
• Flooring: Vinyl flooring in eating area and bedroom; Hardwood flooring in living room and laundry
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heat
• Interior features: Ceiling fan(s); Sump pump; Gas water heater; Unfinished partial basement
• Laundry & utility: Main-level laundry room

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $18k.

Deal economics

• At list price, monthly cash flow is $523 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($860 rent vs $18k).

Location & tenants

• Location reads 66/100 on livability (#549 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, employment D+, amenities F.
• Illini West H S District 307 (town): math 25% / reading 25% proficiency, ranked #611 of 919 in IL (top 66%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Illini West High School (math 17% / reading 27%, grade F, #319 of 693 statewide, top 50%, 342 students, 0% FRL).
• Market conditions: 18 active listings in the ZIP.

Forward outlook

• In year one you build about $192 of equity ($124 loan paydown + $68 appreciation (0.4% local appreciation)).
• Hancock County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.4% appreciation + 3.0% rent growth), your $5k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

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

Risks & watch-outs

• Watch-outs: property tax is 3.7% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $18,000

Questions for the listing agent

1. Built in 1920 — 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. 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. 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?
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: 4.78% ✓
• Cap rate: 41.16%
• Cash-on-cash: 124.51%
• DSCR: 6.54
• GRM: 1.7

CMA / ARV

• ARV (on-the-fly): $79,680
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
489 E 3rd St	0.54mi	2/1.0 (+1)	1,013 (+6%)	19mo	$84,500	$83	45
750 W 3rd St	0.59mi	2/1.0 (+1)	1,080 (+12%)	15mo	$45,000	$42	34

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

0.38% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 7.57×
• Total profit: $33,137
• Equity at exit: $5,570

10-year hold

• IRR: —
• Equity multiple: 15.80×
• Total profit: $74,610
• Equity at exit: $6,977

Cash invested: $5,040 (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 62330

• Home prices YoY: 0.3%
• Active inventory: 18
• Price-to-rent: 1.7×

Monthly cashflow live

• Estimated rent: $860 medium
• Mortgage (P&I): −$94
• Tax from tax record: −$55 /mo · $658/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$181
• Net cashflow: $523

Break-even live

Break-even rent $198

Max offer price $18,000

Occupancy floor 34%

Sensitivity live

Price	-10% $533	-5% $528	+0% $523	+5% $518	+10% $513
Rent	-10% $455	-5% $489	+0% $523	+5% $557	+10% $591
Rate	-1.0pp $532	-0.5pp $528	base $523	+0.5pp $518	+1.0pp $514

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: $4,500
• Closing costs: $540
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-09
   status $18,000 Pending 5 DOM
2. 2026-06-08
   days on market $18,000 Active 5 DOM
3. 2026-06-07
   days on market $18,000 Active 4 DOM
4. 2026-06-07
   days on market $18,000 Active 3 DOM
5. 2026-06-05
   days on market $18,000 Active 2 DOM
6. 2026-06-03
   remarks 388-char remark
7. 2026-06-03
   listed $18,000 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: $658 · $55/mo
• Projected year-2 tax: $658 · $55/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 ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,324
• − Mortgage interest: −$1,008
• − Property taxes: −$658
• − Insurance: −$90
• − Repairs & maintenance: −$826
• − Management: −$826
• − Depreciation: −$524
• Taxable income: $6,393
• Est. tax owed @ 24.0%: −$1,534
• After-tax cash flow: $4,741/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: Illini West H S District 307
• NCES district ID: 1701384
• Math proficiency: 25% ▲ 5.00%
• Reading proficiency: 25% ▲ 5.00%
• Median HH income: $47,745
• Composite: 24.88/100
• National rank: #12997
• State rank: #611 of 919 in IL

Livability — Dallas City

• Score: 66/100
• State rank: #549
• US rank: #11621

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dallas City, IL
• Population (ZIP): 1,548

Population outlook (Hancock County) Hauer SSP2

• Today (2025): 17,042 people
• By 2030: 16,056 · -5.8%
• By 2040: 13,912 · -18.4%
• By 2050: 11,879 · -30.3%
• By 2075: 8,302 · -51.3%
• By 2100: 5,846 · -65.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 6% Two or more races 3%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Lithuanian 4% Italian 2% Iranian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 4%

Political lean MEDSL · Hancock

• 2024 margin: Solid R (+50.0) · D 24.1% · R 74.1% · Other 1.8%
• 2008→2024 swing: -39.2pp toward R · 2008: -10.8pp · 2024: -50.0pp
• All cycles: 2024: R+50.0 2020: R+48.9 2016: R+50.8 2012: R+19.0 2008: R+10.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.38%
• Current HPI: 133.3962
• 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 $18,000 MRED as Distributed by MLS Grid

Property tax history

-5.2%/yr

Latest (2024): $658 · +5.1% YoY. Source: county tax records.