114 N West · Elkville, IL 62932

$35,000

2 bd · 1.0 ba · 984 sqft · Other · 120 Days on market

Built 1937 0.73 ac lot $36/sqft · 35% below area Est $54k · 35% under

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Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +5.3/10.0
• Schools +3.2/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Want a DIY project? This cute 2-bed, 1-bath home is ready for someone with vision to roll up their sleeves and make it their own. Whether you're looking for your first home, an investment property, or a renovation project, this place offers a great starting point with plenty of potential. With a little creativity and elbow grease, you can transform this house into something truly special.

Key facts

• 0.73 acre lot
• 2 garage spots
• Built 1937

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $35k.

Deal economics

• At list price, monthly cash flow is $396 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($892 rent vs $35k).
• Recommended offer: $32k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 58/100 on livability (#1,123 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: employment D, schools F, crime D-.
• Elverado CUSD 196 (rural): math 25% / reading 45% proficiency, ranked #418 of 919 in IL (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 12 active listings in the ZIP; 5 units permitted in Jackson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $426 of equity ($242 loan paydown + $184 appreciation (0.5% local appreciation)).
• At projected returns (0.5% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 120 days — a 9% lower offer ($32k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $8k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.8% of price; built in 1937 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $31,850 (9.0% below list)

Questions for the listing agent

1. It's been on market 120 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 1937 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 2.55% ✓
• Cap rate: 19.88%
• Cash-on-cash: 48.53%
• DSCR: 3.16
• GRM: 3.3

CMA / ARV

• ARV (median comp): $53,854
• List price: $35,000
• Delta: -35.01%
• Verdict: UNDERPRICED
• Comps: 15 within 1.0 mi

Projected returns pro-forma

0.53% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 50.7%
• Equity multiple: 3.57×
• Total profit: $25,145
• Equity at exit: $11,092

10-year hold

• IRR: 52.7%
• Equity multiple: 7.14×
• Total profit: $60,220
• Equity at exit: $14,099

Cash invested: $9,800 (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 62932

• Home prices YoY: 0.6%
• Active inventory: 12
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $892 medium
• Mortgage (P&I): −$184
• Tax from tax record: −$110 /mo · $1,320/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$187
• Net cashflow: $396

Break-even live

Break-even rent $390

Max offer price $35,000

Occupancy floor 51%

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $35,000 Active 120 DOM
2. 2026-06-17
   days on market $35,000 Active 119 DOM
3. 2026-06-16
   days on market $35,000 Active 118 DOM
4. 2026-06-15
   days on market $35,000 Active 117 DOM
5. 2026-06-13
   days on market $35,000 Active 115 DOM
6. 2026-06-12
   pricedays on market $35,000 Active 114 DOM
7. 2026-06-09
   days on market $43,500 Active 111 DOM
8. 2026-06-08
   days on market $43,500 Active 110 DOM
9. 2026-06-07
   days on market $43,500 Active 109 DOM
10. 2026-06-05
    days on market $43,500 Active 107 DOM
11. 2026-06-04
    days on market $43,500 Active 105 DOM
12. 2026-06-02
    days on market $43,500 Active 104 DOM
13. 2026-06-01
    days on market $43,500 Active 103 DOM
14. 2026-05-31
    days on market $43,500 Active 102 DOM
15. 2026-05-31
    days on market $43,500 Active 101 DOM
16. 2026-02-19
    listed $43,500 Active 393-char remark

    Show marketing remark (393 chars)

    Want a DIY project? This cute 2-bed, 1-bath home is ready for someone with vision to roll up their sleeves and make it their own. Whether you're looking for your first home, an investment property, or a renovation project, this place offers a great starting point with plenty of potential. With a little creativity and elbow grease, you can transform this house into something truly special.

17. 2026-02-18
    listed $43,500 Active 393-char remark

    Show marketing remark (393 chars)

    Want a DIY project? This cute 2-bed, 1-bath home is ready for someone with vision to roll up their sleeves and make it their own. Whether you're looking for your first home, an investment property, or a renovation project, this place offers a great starting point with plenty of potential. With a little creativity and elbow grease, you can transform this house into something truly special.

18. 2021-08-06
    historical
19. 2011-10-19
    historical

ⓘ 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: $1,320 · $110/mo
• Projected year-2 tax: $1,320 · $110/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 5/10 Major 7 d/yr ≥107°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,701
• − Mortgage interest: −$1,961
• − Property taxes: −$1,320
• − Insurance: −$175
• − Repairs & maintenance: −$856
• − Management: −$856
• − Depreciation: −$1,018
• Taxable income: $4,515
• Est. tax owed @ 24.0%: −$1,084
• After-tax cash flow: $3,672/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: Elverado CUSD 196
• NCES district ID: 1713860
• Math proficiency: 25% ▲ 3.00%
• Reading proficiency: 45% ▲ 8.00%
• Median HH income: $42,241
• Composite: 32.2/100
• National rank: #10962
• State rank: #418 of 919 in IL

Livability — Elkville

• Score: 58/100
• State rank: #1123
• US rank: #21198

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: Elkville, IL
• Population (ZIP): 1,178

Population outlook (Jackson County) Hauer SSP2

• Today (2025): 59,093 people
• By 2030: 59,628 · +0.9%
• By 2040: 59,495 · +0.7%
• By 2050: 58,811 · -0.5%
• By 2075: 57,683 · -2.4%
• By 2100: 55,337 · -6.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 8% Two or more races 6%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 3% Lithuanian 2% Romanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 92% English-only · Spanish 7% German/W. Germanic 1% Other Indo-European 1%

Political lean MEDSL · Jackson

• 2024 margin: Toss-up / Even · D 51.0% · R 47.5% · Other 1.4%
• 2008→2024 swing: -18.3pp toward R · 2008: 21.8pp · 2024: 3.5pp
• All cycles: 2024: D+3.5 2020: D+1.3 2016: D+3.0 2012: D+10.3 2008: D+21.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.53%
• Current HPI: 96.1674
• 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

+0.0% since first listed

4 events — show timeline

• 2026-02-19 Listed $43,500 MARIS as Distributed by MLS Grid
• 2026-02-18 Listed $43,500 RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2011-10-19 Listing Removed — MRED as Distributed by MLS Grid

Property tax history

+0.7%/yr

Latest (2024): $1,320 · +7.5% YoY. Source: county tax records.