421 S Schrader St · Havana, IL 62644

$79,500

3 bd · 1.0 ba · 1,432 sqft · Other · 92 Days on market

Built 1879 0.25 ac lot ↓ 4% since listing

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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 +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks

This cute 3BR/1BA 1.5-story home offers many updates and great features. The main floor includes a living room, eat-in kitchen, large family room, convenient main-level laundry, spacious bedroom, bath, and a welcoming enclosed front porch. The upper level features two full bedrooms. Exterior amenities include a one-car detached garage (20' x 12'), rear carport and small storage shed. Major updates in 2018 include furnace and central air, wiring, plumbing, windows, water heater, upstairs mini-split, and blown-in insulation on both floors in the walls and attic. Roof updated in 2017. With great updates and plenty of space, this home is ready for its next owner.

Key facts

• Rear carport
• Storage shed
• Updated roof

Tags

• ENCLOSED FRONT PORCH
• DETACHED GARAGE
• REAR CARPORT
• STORAGE SHED
• FURNACE AND CENTRAL AIR
• UPDATED ROOF

Property features AI

Finance

• Other: Zoned C-1

Exterior

• Parking: Detached carport; 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single family residence; Multiple levels including main, upper, basement and additional level; Built in 1879
• Construction: Shingle roof; Partial unfinished crawl space basement
• Exterior features: Shed(s); Level lot; Paved road access

Interior

• Kitchen: Refrigerator
• Bedrooms: 3 bedrooms; Primary bedroom on the main level; Second bedroom on the upper level; Third bedroom on the upper level
• Flooring: Carpet in living spaces and bedrooms; Vinyl in kitchen; Laminate in laundry
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Forced air heating; Gas water heater
• Interior features: Cable available; Ceiling fans
• Laundry & utility: Main-level laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $80k.

Deal economics

• At list price, monthly cash flow is $526 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $72k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#989 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Havana CUSD 126 (town): math 17% / reading 22% proficiency, ranked #448 of 620 in IL (top 72%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Havana High School (math 15% / reading 24%, grade F, #379 of 693 statewide, top 57%, 279 students, 0% FRL) — zoned schools average 0% FRL vs 47% district-wide (47 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 36 active listings in the ZIP; 7 units permitted in Mason County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $550 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Mason 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 $22k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 92 days — a 9% lower offer ($72k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1879 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $72,345 (9.0% below list)

Questions for the listing agent

1. It's been on market 92 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1879 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
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: 1.72% ✓
• Cap rate: 14.23%
• Cash-on-cash: 28.36%
• DSCR: 2.26
• GRM: 4.8

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: 22.6%
• Equity multiple: 1.93×
• Total profit: $20,645
• Equity at exit: $11,854

10-year hold

• IRR: 30.6%
• Equity multiple: 3.75×
• Total profit: $61,214
• Equity at exit: $6,874

Cash invested: $22,260 (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 62644

• Home prices YoY: -14.0%
• Active inventory: 36
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,366 medium
• Mortgage (P&I): −$417
• Tax from tax record: −$103 /mo · $1,239/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$287
• Net cashflow: $526

Break-even live

Break-even rent $700

Max offer price $79,500

Occupancy floor 56%

Sensitivity live

Price	-10% $571	-5% $549	+0% $526	+5% $504	+10% $481
Rent	-10% $418	-5% $472	+0% $526	+5% $580	+10% $634
Rate	-1.0pp $566	-0.5pp $546	base $526	+0.5pp $505	+1.0pp $484

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: $19,875
• Closing costs: $2,385
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $79,500 Active 92 DOM
2. 2026-06-18
   days on market $79,500 Active 90 DOM
3. 2026-06-17
   days on market $79,500 Active 89 DOM
4. 2026-06-16
   days on market $79,500 Active 88 DOM
5. 2026-06-15
   days on market $79,500 Active 87 DOM
6. 2026-06-13
   days on market $79,500 Active 85 DOM
7. 2026-06-12
   days on market $79,500 Active 84 DOM
8. 2026-06-09
   days on market $79,500 Active 81 DOM
9. 2026-06-08
   days on market $79,500 Active 80 DOM
10. 2026-06-07
    days on market $79,500 Active 79 DOM
11. 2026-06-05
    days on market $79,500 Active 77 DOM
12. 2026-06-04
    days on market $79,500 Active 75 DOM
13. 2026-06-02
    days on market $79,500 Active 74 DOM
14. 2026-06-01
    days on market $79,500 Active 73 DOM
15. 2026-05-31
    days on market $79,500 Active 72 DOM
16. 2026-05-31
    days on market $79,500 Active 71 DOM
17. 2026-05-18
    status Active
18. 2026-04-30
    status Pending
19. 2026-04-28
    price $79,500
20. 2026-03-02
    listed $82,500 Active

ⓘ 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: $1,239 · $103/mo
• Projected year-2 tax: $1,522 · $127/mo
• Expected delta: +$283/yr (+$24/mo · 22.8%)

ⓘ 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 ≥107°F today · 19 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: $16,395
• − Mortgage interest: −$4,453
• − Property taxes: −$1,239
• − Insurance: −$398
• − Repairs & maintenance: −$1,312
• − Management: −$1,312
• − Depreciation: −$2,313
• Taxable income: $5,369
• Est. tax owed @ 24.0%: −$1,289
• After-tax cash flow: $5,024/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: Havana CUSD 126
• NCES district ID: 1718510
• Math proficiency: 17% ▼ -10.00%
• Reading proficiency: 22% ▼ -16.00%
• Median HH income: $39,881
• Composite: 16.52/100
• National rank: #9181
• State rank: #448 of 620 in IL

Livability — Havana

• Score: 60/100
• State rank: #989
• US rank: #19077

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Havana, IL
• City population: 4,657
• Population (ZIP): 4,657

Population outlook (Mason County) Hauer SSP2

• Today (2025): 12,087 people
• By 2030: 11,283 · -6.7%
• By 2040: 9,766 · -19.2%
• By 2050: 8,421 · -30.3%
• By 2075: 5,785 · -52.1%
• By 2100: 3,888 · -67.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 3% Hispanic / Latino 3%
• Common ancestry: Slovak 3% Lithuanian 2% Italian 2%
• Foreign-born: 1% · Canada, Jamaica
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Mason

• 2024 margin: Solid R (+42.2) · D 27.8% · R 70.1% · Other 2.1%
• 2008→2024 swing: -48.1pp toward R · 2008: 5.9pp · 2024: -42.2pp
• All cycles: 2024: R+42.2 2020: R+39.5 2016: R+31.8 2012: R+6.3 2008: D+5.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -18.81%
• Current HPI: 115.1077
• 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

-3.6% since first listed

4 events — show timeline

• 2026-05-18 Relisted — RMLSA as Distributed by MLS Grid
• 2026-04-30 Pending — RMLSA as Distributed by MLS Grid
• 2026-04-28 Price Changed $79,500 RMLSA as Distributed by MLS Grid
• 2026-03-02 Listed $82,500 RMLSA as Distributed by MLS Grid

Property tax history

+5.5%/yr

Latest (2024): $1,239 · -1.8% YoY. Source: county tax records.