409 Main St · Crescent City, IL 60928

$94,900

3 bd · 1.5 ba · 1,364 sqft · SingleFamily · 30 Days on market

Built 1960 6,098 sqft lot Est $112k · 15% under

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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 +25.7/30.0
• ARV discount +14.3/15.0
• DSCR +8.6/10.0
• 1% rule +6.6/10.0
• Appreciation +5.9/10.0
• Schools +3.7/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

What a surprise this little place is! Right downtown, this house has 3 bedrooms, 1.5 baths, and a huge eat-in kitchen. Needs a little TLC, but it is worth a look. All appliances stay...electric range, refrigerator, washer and dryer. 2 car garage and a nice, shaded lawn. Seller willing to leave some furniture. Very economical living!

Key facts

• 6,098 sq ft lot
• 2 garage spots
• Built 1960

Property features AI

Finance

• Financial info: Special service area: No
• HOA & community: No master association fee required; Community has curbs, sidewalks and paved streets

Exterior

• Parking: Detached garage with garage door opener; Garage owned; Total parking for four vehicles; Two garage spaces; Additional off-street parking
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; One-story
• Construction: Brick construction; Built approximately 61–70 years ago; Built before 1978
• Exterior features: Curbs and sidewalks; Paved street; Lot dimensions approximately 50 x 120

Interior

• Kitchen: Range; Refrigerator; Eating area / table space
• Bedrooms: Master bedroom on main level (includes a half bath); Two additional bedrooms on main level (11 x 11 and 12 x 11) with window coverings
• Flooring: Carpet in living room and bedrooms; Vinyl flooring in kitchen and foyer; Other flooring in utility room
• Bathrooms: One full bathroom; One half bathroom (in master bedroom)
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: First-floor bedroom; First-floor full bathroom; Five total rooms; Ceiling fan(s)
• Laundry & utility: Main-level laundry; Utility room on main level (13 x 8)

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $227 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $93k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#822 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D+, employment D+, amenities F.
• Crescent Iroquois CUSD 249 (rural): math 30% / reading 50% proficiency, ranked #305 of 919 in IL (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 6 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 $2k of equity ($656 loan paydown + $2k appreciation (1.9% 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 (1.9% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($93k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y 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.
• Current owner paid $29k; list at $95k implies a 227% gain — meaningful room to come down on a strong offer.

Recommended offer $93,476 (1.5% below list)

Questions for the listing agent

1. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 1.16% ✓
• Cap rate: 9.17%
• Cash-on-cash: 10.27%
• DSCR: 1.46
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $111,848
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
410 N Colfax St	0.30mi	3/1.0	1,356 (-1%)	2mo	$45,000	$33	81
202 N Grant St	0.10mi	3/1.5	1,456 (+7%)	8mo	$120,000	$82	77
208 Union St	0.14mi	3/2.0	1,232 (-10%)	22mo	$160,000	$130	57

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

Projected returns pro-forma

1.89% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.4%
• Equity multiple: 1.77×
• Total profit: $20,482
• Equity at exit: $36,878

10-year hold

• IRR: 17.0%
• Equity multiple: 3.25×
• Total profit: $59,728
• Equity at exit: $52,684

Cash invested: $26,572 (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 60928

• Home prices YoY: 1.5%
• Active inventory: 6
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,100 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$105 /mo · $1,256/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $227

Break-even live

Break-even rent $813

Max offer price $94,900

Occupancy floor 74%

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: $23,725
• Closing costs: $2,847
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $94,900 Active 30 DOM
2. 2026-06-17
   days on market $94,900 Active 29 DOM
3. 2026-06-16
   days on market $94,900 Active 28 DOM
4. 2026-06-15
   days on market $94,900 Active 27 DOM
5. 2026-06-13
   days on market $94,900 Active 25 DOM
6. 2026-06-12
   days on market $94,900 Active 24 DOM
7. 2026-06-09
   days on market $94,900 Active 21 DOM
8. 2026-06-08
   days on market $94,900 Active 20 DOM
9. 2026-06-07
   days on market $94,900 Active 19 DOM
10. 2026-06-05
    days on market $94,900 Active 17 DOM
11. 2026-06-04
    days on market $94,900 Active 15 DOM
12. 2026-06-02
    days on market $94,900 Active 14 DOM
13. 2026-06-01
    days on market $94,900 Active 13 DOM
14. 2026-05-31
    days on market $94,900 Active 12 DOM
15. 2026-05-31
    days on market $94,900 Active 11 DOM
16. 2026-05-19
    listed $94,900 Active
17. 2016-06-03
    soldstatus $29,000 Closed Sale 340-char remark

    Show marketing remark (340 chars)

    What a surprise this little place is! Right downtown, this house has 3 bedrooms, 1.5 baths, and a huge eat-in kitchen. Needs a little TLC, but it is worth a look. All appliances stay...electric range, refrigerator, washer and dryer. 2 car garage and a nice, shaded lawn. Seller willing to leave some furniture. Very economical living!

18. 2016-06-01
    soldstatus $9,667
19. 2016-05-16
    status Pending 340-char remark

    Show marketing remark (340 chars)

    What a surprise this little place is! Right downtown, this house has 3 bedrooms, 1.5 baths, and a huge eat-in kitchen. Needs a little TLC, but it is worth a look. All appliances stay...electric range, refrigerator, washer and dryer. 2 car garage and a nice, shaded lawn. Seller willing to leave some furniture. Very economical living!

20. 2016-05-06
    listed $33,900 New 340-char remark

    Show marketing remark (340 chars)

    What a surprise this little place is! Right downtown, this house has 3 bedrooms, 1.5 baths, and a huge eat-in kitchen. Needs a little TLC, but it is worth a look. All appliances stay...electric range, refrigerator, washer and dryer. 2 car garage and a nice, shaded lawn. Seller willing to leave some furniture. Very economical living!

ⓘ 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: $1,256 · $105/mo
• Projected year-2 tax: $1,705 · $142/mo
• Expected delta: +$449/yr (+$37/mo · 35.8%)

ⓘ 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 ≥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: $13,205
• − Mortgage interest: −$5,316
• − Property taxes: −$1,256
• − Insurance: −$474
• − Repairs & maintenance: −$1,056
• − Management: −$1,056
• − Depreciation: −$2,761
• Taxable income: $1,285
• Est. tax owed @ 24.0%: −$308
• After-tax cash flow: $2,421/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: Crescent Iroquois CUSD 249
• NCES district ID: 1700323
• Math proficiency: 30% ▲ 10.00%
• Reading proficiency: 50% ▲ 10.00%
• Median HH income: $54,136
• Composite: 37.28/100
• National rank: #8963
• State rank: #305 of 919 in IL

Livability — Crescent City

• Score: 62/100
• State rank: #822
• US rank: #16204

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Crescent City, IL
• Population (ZIP): 509

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: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 8% Two or more races 2%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Lithuanian 6% Romanian 3% Iranian 2%
• Foreign-born: 0%

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: ▲ 1.89%
• Current HPI: 128.1668
• 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

+179.9% since first listed

5 events — show timeline

• 2026-05-19 Listed $94,900 MRED as Distributed by MLS Grid
• 2016-06-03 Sold (MLS) $29,000 MRED as Distributed by MLS Grid
• 2016-06-01 Sold (Public Records) $9,667 Public Records
• 2016-05-16 Pending — MRED as Distributed by MLS Grid
• 2016-05-06 Listed $33,900 MRED as Distributed by MLS Grid

Property tax history

+45.7%/yr

Latest (2024): $1,256 · +9.7% YoY. Source: county tax records.