638 E Ford Ave · Witt, IL 62094

$73,500

2 bd · 1.0 ba · 1,136 sqft · Other · 186 Days on market

Built 1940 4,356 sqft lot $65/sqft · 28% above area Est $57k · 28% over

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Why this score? — see what drove the C+ 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
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• Appreciation +6.0/10.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

Just listed, 2 bedroom home situated on the edge of town! It offers a dine-in kitchen, living room/dining room combination, 2 bedrooms and 1 full bath plus the unfinished basement. It is a great starter home with room to build on. City Water, Gas and Sewer. Gas furnace, CA and gas water heater.

Key facts

• Gas furnace
• Dine-in kitchen
• Sewer

Tags

• DINE-IN KITCHEN
• UNFINISHED BASEMENT
• CITY WATER
• GAS
• SEWER
• GAS FURNACE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $74k.

Deal economics

• At list price, monthly cash flow is $277 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($993 rent vs $74k).
• Recommended offer: $65k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 54/100 on livability (#1,266 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B; Watch: crime F, amenities F, commute F.
• Hillsboro CUSD 3 (town): math 20% / reading 36% proficiency, ranked #282 of 620 in IL (top 46%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Hillsboro Jr High School (math 18% / reading 41%, grade F, #256 of 665 statewide, top 41%, 345 students, 0% FRL); Hillsboro High School (math 12% / reading 17%, grade F, #479 of 693 statewide, top 71%, 468 students, 0% FRL) — zoned schools average 0% FRL vs 44% district-wide (44 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 6 active listings in the ZIP; 12 units permitted in Montgomery County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($508 loan paydown + $2k appreciation (2.1% local appreciation)).
• Montgomery County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.1% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 186 days — a 12% lower offer ($65k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $64,680 (12.0% below list)

Questions for the listing agent

1. It's been on market 186 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — 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 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?
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: 1.35% ✓
• Cap rate: 10.81%
• Cash-on-cash: 16.14%
• DSCR: 1.72
• GRM: 6.2

CMA / ARV

• ARV (median comp): $57,372
• List price: $73,500
• Delta: 28.11%
• Verdict: OVERPRICED
• Comps: 19 within 1.0 mi

Projected returns pro-forma

2.08% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.6%
• Equity multiple: 2.12×
• Total profit: $22,979
• Equity at exit: $29,301

10-year hold

• IRR: 22.6%
• Equity multiple: 4.00×
• Total profit: $61,676
• Equity at exit: $42,433

Cash invested: $20,580 (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 62094

• Home prices YoY: 2.0%
• Active inventory: 6
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $993 medium
• Mortgage (P&I): −$385
• Tax est. 1.5%: −$92 /mo · $1,102/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$209
• Net cashflow: $277

Break-even live

Break-even rent $643

Max offer price $73,500

Occupancy floor 67%

Sensitivity live

Price	-10% $328	-5% $302	+0% $277	+5% $251	+10% $226
Rent	-10% $198	-5% $238	+0% $277	+5% $316	+10% $355
Rate	-1.0pp $314	-0.5pp $296	base $277	+0.5pp $258	+1.0pp $238

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: $18,375
• Closing costs: $2,205
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $73,500 Active 186 DOM
2. 2026-06-21
   days on market $73,500 Active 185 DOM
3. 2026-06-18
   days on market $73,500 Active 183 DOM
4. 2026-06-17
   days on market $73,500 Active 182 DOM
5. 2026-06-16
   days on market $73,500 Active 181 DOM
6. 2026-06-16
   days on market $73,500 Active 180 DOM
7. 2026-06-13
   days on market $73,500 Active 179 DOM
8. 2026-06-12
   days on market $73,500 Active 178 DOM
9. 2026-06-09
   days on market $73,500 Active 175 DOM
10. 2026-06-08
    days on market $73,500 Active 174 DOM
11. 2026-06-07
    days on market $73,500 Active 173 DOM
12. 2026-06-04
    days on market $73,500 Active 169 DOM
13. 2026-06-02
    days on market $73,500 Active 168 DOM
14. 2026-06-01
    days on market $73,500 Active 167 DOM
15. 2026-05-31
    days on market $73,500 Active 166 DOM
16. 2026-05-31
    days on market $73,500 Active 165 DOM
17. 2025-12-16
    listed $73,500 Active 297-char remark

    Show marketing remark (297 chars)

    Just listed, 2 bedroom home situated on the edge of town! It offers a dine-in kitchen, living room/dining room combination, 2 bedrooms and 1 full bath plus the unfinished basement. It is a great starter home with room to build on. City Water, Gas and Sewer. Gas furnace, CA and gas water heater.

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

Taxation est. · year 1

• Rental income: $11,921
• − Mortgage interest: −$4,117
• − Property taxes: −$1,102
• − Insurance: −$368
• − Repairs & maintenance: −$954
• − Management: −$954
• − Depreciation: −$2,138
• Taxable income: $2,288
• Est. tax owed @ 24.0%: −$549
• After-tax cash flow: $2,773/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: Hillsboro CUSD 3
• NCES district ID: 1719200
• Math proficiency: 20% ▼ -4.00%
• Reading proficiency: 36% ▼ -7.00%
• Median HH income: $43,744
• Composite: 23.89/100
• National rank: #7794
• State rank: #282 of 620 in IL

Livability — Witt

• Score: 54/100
• State rank: #1266
• US rank: #23794

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Witt, IL
• Population (ZIP): 1,018

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 27,471 people
• By 2030: 26,410 · -3.9%
• By 2040: 24,233 · -11.8%
• By 2050: 21,948 · -20.1%
• By 2075: 16,686 · -39.3%
• By 2100: 11,369 · -58.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Black 3% Hispanic / Latino 1% Two or more races 1%
• Common ancestry: Lithuanian 2% German 1% Iranian 1%
• Foreign-born: 0%

Political lean MEDSL · Montgomery

• 2024 margin: Solid R (+44.0) · D 27.1% · R 71.1% · Other 1.8%
• 2008→2024 swing: -46.7pp toward R · 2008: 2.6pp · 2024: -44.0pp
• All cycles: 2024: R+44.0 2020: R+41.0 2016: R+40.0 2012: R+14.2 2008: D+2.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.08%
• Current HPI: 103.233
• 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

1 event — show timeline

• 2025-12-16 Listed $73,500 MARIS as Distributed by MLS Grid

Property tax history

+2.8%/yr

Latest (2021): $141 · +4.9% YoY. Source: county tax records.