307 N Cedar St · Bowen, IL 62316

$49,500

4 bd · 1.0 ba · 2,217 sqft · SingleFamily · 14 Days on market

0.42 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
• Appreciation +5.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0

Listing remarks

Spacious 4-bedroom, 1-bath home situated on nearly a half-acre in the Village of Bowen. With solid bones, including a good roof and foundation, this property offers endless potential for a homeowner ready to make it their own or an investor looking for their next project. The generous lots provide plenty of outdoor space, and a barn located at the edge of the property adds extra storage or workshop possibilities. Whether you're looking for a fixer-upper to call home or an investment opportunity, this property is full of potential.

Key facts

• Solid bones
• Generous lots
• Barn for storage

Tags

• GOOD ROOF
• SOLID BONES
• GENEROUS LOTS
• BARN FOR STORAGE

Property features AI

Exterior

• Parking: Attached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Multiple levels (main, upper, lower, basement, additional level); Shingle roof
• Construction: Built (year not provided); Total building area approximately 2217
• Exterior features: Corner lot, level; Extra lot included; Lot dimensions roughly 150 x 140 and 70 x 40

Interior

• Kitchen: Kitchen on main level with vinyl flooring
• Bedrooms: 4 bedrooms; Main-level primary bedroom (approx. 10 x 11) with egress window; Main-level bedroom (approx. 16 x 12) with egress window; Upper-level bedroom (approx. 14 x 11) with egress window; Upper-level bedroom (approx. 10 x 14) with egress window
• Flooring: Hardwood flooring in living, family, dining and most bedrooms; Vinyl flooring in the kitchen
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric forced-air heating; Electric water heater
• Interior features: Partial, unfinished basement; No fireplaces

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $611 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).

Location & tenants

• Location reads 61/100 on livability (#914 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B; Watch: crime F, amenities F, commute F.
• Southeastern CUSD 337 (rural): math 20% / reading 26% proficiency, ranked #375 of 620 in IL (top 60%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Southeastern Jr/Sr High School (math 12% / reading 17%, grade F, #479 of 693 statewide, top 71%, 203 students, 0% FRL) — zoned schools average 0% FRL vs 52% district-wide (52 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 3 active listings in the ZIP.

Forward outlook

• In year one you build about $2k of equity ($342 loan paydown + $1k appreciation (3.0% 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 (3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $49,500

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. Crime grade is F 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?
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: 2.50% ✓
• Cap rate: 21.11%
• Cash-on-cash: 52.93%
• DSCR: 3.35
• GRM: 3.3

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: 58.0%
• Equity multiple: 4.24×
• Total profit: $44,931
• Equity at exit: $22,257

10-year hold

• IRR: 57.6%
• Equity multiple: 8.61×
• Total profit: $105,440
• Equity at exit: $34,301

Cash invested: $13,860 (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 62316

• Active inventory: 3
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $1,239 medium
• Mortgage (P&I): −$260
• Tax from tax record: −$87 /mo · $1,046/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $611

Break-even live

Break-even rent $465

Max offer price $49,500

Occupancy floor 46%

Sensitivity live

Price	-10% $639	-5% $625	+0% $611	+5% $597	+10% $583
Rent	-10% $513	-5% $562	+0% $611	+5% $660	+10% $709
Rate	-1.0pp $636	-0.5pp $624	base $611	+0.5pp $598	+1.0pp $585

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: $12,375
• Closing costs: $1,485
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-21
   days on market $49,500 Active 14 DOM
2. 2026-06-18
   days on market $49,500 Active 12 DOM
3. 2026-06-17
   days on market $49,500 Active 11 DOM
4. 2026-06-16
   days on market $49,500 Active 10 DOM
5. 2026-06-15
   days on market $49,500 Active 9 DOM
6. 2026-06-13
   days on market $49,500 Active 7 DOM
7. 2026-06-12
   days on market $49,500 Active 6 DOM
8. 2026-06-09
   days on market $49,500 Active 3 DOM
9. 2026-06-08
   days on market $49,500 Active 2 DOM
10. 2026-06-07
    remarks 536-char remark
11. 2026-06-07
    listed $49,500 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: $1,046 · $87/mo
• Projected year-2 tax: $1,085 · $90/mo
• Expected delta: +$39/yr (+$3/mo · 3.7%)

ⓘ 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 · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,866
• − Mortgage interest: −$2,773
• − Property taxes: −$1,046
• − Insurance: −$248
• − Repairs & maintenance: −$1,189
• − Management: −$1,189
• − Depreciation: −$1,440
• Taxable income: $6,981
• Est. tax owed @ 24.0%: −$1,675
• After-tax cash flow: $5,660/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: Southeastern CUSD 337
• NCES district ID: 1736610
• Math proficiency: 20% ▼ -9.00%
• Reading proficiency: 26% ▼ -17.00%
• Median HH income: $44,674
• Composite: 19.87/100
• National rank: #8690
• State rank: #375 of 620 in IL

Livability — Bowen

• Score: 61/100
• State rank: #914
• US rank: #17744

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bowen, IL
• Population (ZIP): 873

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 (92%)
• Race & ethnicity: White 92% Two or more races 7%
• Common ancestry: Slovak 5% Lithuanian 2% Portuguese 1%
• Foreign-born: 0%

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: —
• Current HPI: —
• 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

• 2026-06-05 Listed $49,500 RMLSA as Distributed by MLS Grid

Property tax history

+5.2%/yr

Latest (2024): $1,046 · +7.4% YoY. Source: county tax records.