350 E Summer St · Paxton, IL 60957

$65,000

2 bd · 1.0 ba · 1,056 sqft · SingleFamily public records · 12 Days on market

Built 1988 7,850 sqft lot $62/sqft · 47% below area Est $123k · 47% under

---

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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• Livability +3.6/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Home has been remodeled. New carpet thru out. New vinyl in kitchen and bath. New countertop in kitchen. Stove and refrigerator to remain - as is. Walls are freshly cleaned - painted. New central air. Furnace almost new. new fan and tub surround added in bath. Roof under 10 years. Shows well - go show - bring offer.

Key facts

• Ranch home
• Remodeled
• Homesite included

Tags

• RANCH HOME
• REMODELED
• HOMESITE INCLUDED

Property features AI

Finance

• Other: Possession at closing
• Financial info: Special service area: No
• HOA & community: No master association fee required

Exterior

• Parking: Detached garage (1 garage space, 1 total parking)
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; One-story; Fee simple ownership; Rehab completed in 2007
• Construction: Aluminum siding; Built approximately 31–40 years ago; Not built before 1978
• Exterior features: Lot approximately 0.25–0.49 acre; Lot dimensions roughly 50 x 157; Zoned for single-family

Interior

• Kitchen: Kitchen on main level (9 x 17) with vinyl flooring; Refrigerator; Range
• Bedrooms: Master bedroom on main level (12 x 16) with carpet; Second bedroom on main level (11 x 12) with carpet; Additional bedrooms listed
• Flooring: Carpet in living areas and bedrooms; Vinyl in kitchen
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: First-floor bedroom; 4 total rooms
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $265 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($955 rent vs $65k).
• Cap rate 11.2% vs local median 5.3% in Paxton — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 72/100 on livability (#316 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: schools D+, amenities F, commute F.
• Paxton-Buckley-Loda CUD 10 (town): math 33% / reading 29% proficiency, ranked #232 of 620 in IL (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 28 active listings in the ZIP; 10 units permitted in Ford County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Ford County population projected at -17% 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 $18k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 20y ago; this cycle's ask is 18% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $52k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $65,000

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 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?
3. 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.
4. 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.
5. 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: 1.47% ✓
• Cap rate: 11.18%
• Cash-on-cash: 17.45%
• DSCR: 1.78
• GRM: 5.7

CMA / ARV

• ARV (median comp): $123,304
• List price: $65,000
• Delta: -47.28%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
831 S High St	0.51mi	3/1.0 (+1)	1,056 (0%)	2mo	$77,500	$73	69
724 E Patton St	0.57mi	2/1.0	1,019 (-4%)	2mo	$130,000	$128	66
448 Larson St	0.28mi	2/2.0	1,017 (-4%)	22mo	$125,000	$123	58
219 E Patton St	0.38mi	3/1.5 (+1)	1,156 (+10%)	10mo	$33,000	$29	51
325 E State St	0.70mi	2/1.0	1,120 (+6%)	12mo	$90,000	$80	47
338 E State St	0.67mi	2/1.0	1,143 (+8%)	12mo	$147,000	$129	45
229 E State St	0.71mi	2/1.0	960 (-9%)	14mo	$75,000	$78	40
7 Allison Dr	0.55mi	3/1.0 (+1)	1,152 (+9%)	23mo	$184,000	$160	35
438 S Cherry St	0.68mi	3/1.0 (+1)	1,135 (+8%)	20mo	$67,288	$59	34
350 S Elm St	0.71mi	3/1.0 (+1)	1,196 (+13%)	20mo	$180,000	$151	23

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

Projected returns pro-forma

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

5-year hold

• IRR: 8.9%
• Equity multiple: 1.35×
• Total profit: $6,362
• Equity at exit: $9,692

10-year hold

• IRR: 18.1%
• Equity multiple: 2.51×
• Total profit: $27,404
• Equity at exit: $5,620

Cash invested: $18,200 (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 60957

• Home prices YoY: -31.9%
• Active inventory: 28
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $955 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$122 /mo · $1,462/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$201
• Net cashflow: $265

Break-even live

Break-even rent $620

Max offer price $65,000

Occupancy floor 67%

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $65,000 Active 12 DOM
2. 2026-06-17
   days on market $65,000 Active 11 DOM
3. 2026-06-16
   days on market $65,000 Active 10 DOM
4. 2026-06-15
   days on market $65,000 Active 9 DOM
5. 2026-06-14
   days on market $65,000 Active 7 DOM
6. 2026-06-13
   days on market $65,000 Active 6 DOM
7. 2026-06-10
   days on market $65,000 Active 4 DOM
8. 2026-06-09
   days on market $65,000 Active 3 DOM
9. 2026-06-08
   days on market $65,000 Active 2 DOM
10. 2026-06-07
    days on marketlisting id $65,000 Active 1 DOM
11. 2026-06-05
    days on market $65,000 Active 63 DOM
12. 2026-06-02
    days on market $65,000 Active 61 DOM
13. 2026-06-01
    days on market $65,000 Active 60 DOM
14. 2026-05-31
    days on market $65,000 Active 59 DOM
15. 2026-05-30
    days on market $65,000 Active 58 DOM
16. 2026-04-16
    price $65,000 220-char remark
17. 2026-04-02
    listed $75,000 Active 220-char remark
18. 2007-07-20
    soldstatus $52,500 326-char remark

    Show marketing remark (326 chars)

    Home has been remodeled. New carpet thru out. New vinyl in kitchen and bath. New countertop in kitchen. Stove and refrigerator to remain - as is. Walls are freshly cleaned - painted. New central air. Furnace almost new. new fan and tub surround added in bath. Roof under 10 years. Shows well - go show - bring offer.

19. 2007-07-19
    soldstatus $52,500
20. 2007-07-11
    historical 326-char remark

    Show marketing remark (326 chars)

    Home has been remodeled. New carpet thru out. New vinyl in kitchen and bath. New countertop in kitchen. Stove and refrigerator to remain - as is. Walls are freshly cleaned - painted. New central air. Furnace almost new. new fan and tub surround added in bath. Roof under 10 years. Shows well - go show - bring offer.

21. 2007-01-02
    listed $55,000 326-char remark

    Show marketing remark (326 chars)

    Home has been remodeled. New carpet thru out. New vinyl in kitchen and bath. New countertop in kitchen. Stove and refrigerator to remain - as is. Walls are freshly cleaned - painted. New central air. Furnace almost new. new fan and tub surround added in bath. Roof under 10 years. Shows well - go show - bring offer.

22. 2006-09-22
    soldstatus $30,000
23. 2006-09-08
    listed $39,000

ⓘ 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: $1,462 · $122/mo
• Projected year-2 tax: $1,469 · $122/mo
• Expected delta: +$7/yr (+$1/mo · 0.5%)

ⓘ 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 ≥103°F today · 18 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: $11,459
• − Mortgage interest: −$3,641
• − Property taxes: −$1,462
• − Insurance: −$325
• − Repairs & maintenance: −$917
• − Management: −$917
• − Depreciation: −$1,891
• Taxable income: $2,307
• Est. tax owed @ 24.0%: −$554
• After-tax cash flow: $2,622/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: Paxton-Buckley-Loda CUD 10
• NCES district ID: 1707650
• Math proficiency: 33% ▼ -5.00%
• Reading proficiency: 29% ▼ -10.00%
• Median HH income: $52,233
• Composite: 27.27/100
• National rank: #7007
• State rank: #232 of 620 in IL

Livability — Paxton

• Score: 72/100
• State rank: #316
• US rank: #6283

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Paxton, IL
• Population (ZIP): 5,620

Population outlook (Ford County) Hauer SSP2

• Today (2025): 13,044 people
• By 2030: 12,607 · -3.4%
• By 2040: 11,716 · -10.2%
• By 2050: 10,836 · -16.9%
• By 2075: 9,328 · -28.5%
• By 2100: 7,803 · -40.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Lithuanian 2% Italian 2% Romanian 2%
• Foreign-born: 0% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Ford

• 2024 margin: Solid R (+47.9) · D 25.1% · R 73.0% · Other 1.9%
• 2008→2024 swing: -18.9pp toward R · 2008: -29.0pp · 2024: -47.9pp
• All cycles: 2024: R+47.9 2020: R+47.3 2016: R+48.7 2012: R+42.9 2008: R+29.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -71.59%
• Current HPI: 153.0624
• 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

+34.6% since first listed

11 events — show timeline

• 2026-06-18 Listing Removed — MRED as Distributed by MLS Grid
• 2026-06-06 Listing Removed — MRED as Distributed by MLS Grid
• 2026-06-06 Listed — MRED as Distributed by MLS Grid
• 2026-04-16 Price Changed — MRED as Distributed by MLS Grid
• 2026-04-02 Listed — MRED as Distributed by MLS Grid
• 2007-07-20 Sold (MLS) $52,500 MRED as Distributed by MLS Grid
• 2007-07-19 Sold (Public Records) $52,500 Public Records
• 2007-07-11 Listing Removed — MRED as Distributed by MLS Grid
• 2007-01-02 Listed $55,000 MRED as Distributed by MLS Grid
• 2006-09-22 Sold (MLS) $30,000 MRED as Distributed by MLS Grid
• 2006-09-08 Listed $39,000 MRED as Distributed by MLS Grid

Property tax history

+3.8%/yr

Latest (2024): $1,462 · +7.8% YoY. Source: county tax records.