314 1/2 E Seminary Ave · Onarga, IL 60955

$49,900

3 bd · 2.0 ba · 1,326 sqft · SingleFamily · 47 Days on market

Built 1992 Poor condition 0.37 ac lot $38/sqft · 61% below area

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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 +4.7/10.0
• Livability +3.2/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0

Listing remarks

If you've been searching for your next investment opportunity or a project with upside potential, this property deserves a look. Situated on a 125x130 lot, this 3-bedroom, 2-bath manufactured ranch offers 1,326 square feet of living space ready for transformation. This home is a true handyman special and will require updates, making it an ideal candidate for investors, flippers, or buyers eager to build equity through improvements. The layout provides a solid starting point, while the generous lot size offers additional possibilities for outdoor enhancements. Offered AS-IS with cash or conventional financing only, this is your chance to bring new life to a property and capitalize on its pot

Key facts

• 0.37 acre lot
• 2 parking spots
• Built 1992

Property features AI

Finance

• Other: Zoning: single-family
• HOA & community: No master association fee required

Exterior

• Parking: Two parking spaces; Gravel, owned parking area
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; One-story; Fee simple ownership
• Construction: Vinyl siding exterior; Asphalt roof; Block foundation; Built approximately 31–40 years ago
• Exterior features: Lot approximately 0.25–0.49 acre; Lot dimensions 130 x 125; Located in Onarga corporate limits

Interior

• Kitchen: Kitchen (main level) — 12 x 9
• Bedrooms: 3 bedrooms (all on main level); Bedroom 2 — 12 x 10 (main level); Bedroom 3 — 9 x 12 (main level); Master bedroom — 16 x 27 (main level)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: 6 total rooms; Crawl space basement; School bus service available
• Laundry & utility: Main-level laundry — 9 x 6

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $50k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $521 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#721 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, housing A; Watch: schools F, amenities F, commute F.
• Iroquois West CUSD 10 (town): math 29% / reading 30% proficiency, ranked #255 of 620 in IL (top 41%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 5 active listings in the ZIP; 14 units permitted in Iroquois County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $26 of equity ($345 loan paydown + $-319 appreciation (-0.6% local appreciation)).
• Iroquois County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-0.6% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago 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.

Recommended offer $48,403 (3.0% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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. 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.
6. 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.
7. 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: 2.20% ✓
• Cap rate: 18.82%
• Cash-on-cash: 44.75%
• DSCR: 2.99
• GRM: 3.8

CMA / ARV

• ARV (median comp): $126,430
• List price: $49,900
• Delta: -60.53%
• Verdict: UNDERPRICED
• Comps: 14 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
703 S Poplar St	0.51mi	4/1.0 (+1)	1,315 (-1%)	13mo	$78,000	$59	54
405 N Walnut St	0.56mi	2/1.0 (-1)	1,253 (-6%)	10mo	$115,000	$92	47
601 S Poplar St	0.41mi	3/2.0	1,448 (+9%)	22mo	$250,000	$173	47

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

Projected returns pro-forma

-0.64% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 45.1%
• Equity multiple: 3.17×
• Total profit: $30,260
• Equity at exit: $12,914

10-year hold

• IRR: 48.6%
• Equity multiple: 6.30×
• Total profit: $74,067
• Equity at exit: $14,317

Cash invested: $13,972 (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 60955

• Home prices YoY: -0.4%
• Active inventory: 5
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,096 medium
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $748/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$230
• Net cashflow: $521

Break-even live

Break-even rent $437

Max offer price $49,900

Occupancy floor 47%

Sensitivity live

Price	-10% $555	-5% $538	+0% $521	+5% $504	+10% $487
Rent	-10% $434	-5% $478	+0% $521	+5% $564	+10% $608
Rate	-1.0pp $546	-0.5pp $534	base $521	+0.5pp $508	+1.0pp $495

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $49,900 Active 47 DOM
2. 2026-06-18
   days on market $49,900 Active 45 DOM
3. 2026-06-17
   days on market $49,900 Active 44 DOM
4. 2026-06-16
   days on market $49,900 Active 43 DOM
5. 2026-06-15
   days on market $49,900 Active 42 DOM
6. 2026-06-13
   days on market $49,900 Active 40 DOM
7. 2026-06-12
   days on market $49,900 Active 39 DOM
8. 2026-06-09
   days on market $49,900 Active 36 DOM
9. 2026-06-08
   days on market $49,900 Active 35 DOM
10. 2026-06-07
    days on market $49,900 Active 34 DOM
11. 2026-06-04
    days on market $49,900 Active 30 DOM
12. 2026-06-02
    days on market $49,900 Active 29 DOM
13. 2026-06-01
    days on market $49,900 Active 28 DOM
14. 2026-05-31
    days on market $49,900 Active 27 DOM
15. 2026-05-31
    days on market $49,900 Active 26 DOM
16. 2026-05-04
    listed $49,900 Active 712-char remark
17. 2025-08-18
    historical
18. 2024-09-18
    price
19. 2024-07-31
    listed Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥104°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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,152
• − Mortgage interest: −$2,795
• − Property taxes: −$748
• − Insurance: −$250
• − Repairs & maintenance: −$1,052
• − Management: −$1,052
• − Depreciation: −$1,452
• Taxable income: $5,803
• Est. tax owed @ 24.0%: −$1,393
• After-tax cash flow: $4,859/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.

Condition & rehab AI · 12 photos

Poor 20/100 Extensive rehab

This property requires extensive renovations to bring it up to modern standards, significantly increasing its value for both resale and rental purposes.

Repairs flagged

• Major kitchen cabinets — severely worn
• Major bathroom fixtures — dated and worn
• Major exterior siding — weathered and missing trim
• Major flooring — worn carpet
• Major interior walls — peeling paint
• Major appliances — outdated and worn

Value-add opportunities

• Both new kitchen cabinets and countertops — modernizes the space and increases both resale and rental value
• Both new bathroom fixtures and tile — modernizes the space and increases both resale and rental value
• Both new exterior siding and trim — enhances curb appeal and increases both resale and rental value
• Both new flooring — modernizes the space and increases both resale and rental value
• Both new paint — enhances the interior and increases both resale and rental value
• Both new appliances — modernizes the space and increases both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · severely worn	Major	$15,000–50,000
bathroom fixtures · dated and worn	Major	$15,000–50,000
exterior siding · weathered and missing trim	Major	$15,000–50,000
flooring · worn carpet	Major	$15,000–50,000
interior walls · peeling paint	Major	$15,000–50,000
appliances · outdated and worn	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Both new kitchen cabinets and countertops — modernizes the space and increases both resale and rental value ↑
• Both new bathroom fixtures and tile — modernizes the space and increases both resale and rental value ↑
• Both new exterior siding and trim — enhances curb appeal and increases both resale and rental value ↑
• Both new flooring — modernizes the space and increases both resale and rental value ↑
• Both new paint — enhances the interior and increases both resale and rental value ↑
• Both new appliances — modernizes the space and increases both resale and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Iroquois West CUSD 10
• NCES district ID: 1720180
• Math proficiency: 29% ▼ -1.00%
• Reading proficiency: 30% ▼ -9.00%
• Median HH income: $47,456
• Composite: 25.55/100
• National rank: #7428
• State rank: #255 of 620 in IL

Livability — Onarga

• Score: 64/100
• State rank: #721
• US rank: #14649

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Onarga, IL
• Population (ZIP): 1,981

Population outlook (Iroquois County) Hauer SSP2

• Today (2025): 26,826 people
• By 2030: 25,771 · -3.9%
• By 2040: 23,589 · -12.1%
• By 2050: 21,523 · -19.8%
• By 2075: 17,998 · -32.9%
• By 2100: 14,979 · -44.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Hispanic (50%)
• Race & ethnicity: Hispanic / Latino 50% White 47% Two or more races 18% Native American 4% Black 1%
• Hispanic origin (detail): Mexican 49%
• Common ancestry: Iranian 2% Lithuanian 2% Italian 2%
• Foreign-born: 23% · Canada, Jamaica
• Languages at home: 63% English-only · Spanish 37%

Political lean MEDSL · Iroquois

• 2024 margin: Solid R (+57.3) · D 20.6% · R 78.0% · Other 1.4%
• 2008→2024 swing: -27.5pp toward R · 2008: -29.8pp · 2024: -57.3pp
• All cycles: 2024: R+57.3 2020: R+56.7 2016: R+56.0 2012: R+44.7 2008: R+29.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.64%
• Current HPI: 149.6936
• 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

4 events — show timeline

• 2026-05-04 Listed $49,900 MRED as Distributed by MLS Grid
• 2025-08-18 Listing Removed — MRED as Distributed by MLS Grid
• 2024-09-18 Price Changed — MRED as Distributed by MLS Grid
• 2024-07-31 Listed — MRED as Distributed by MLS Grid