2608 State Route 17 · Toluca, IL 61369

$119,900

3 bd · 1.0 ba · 1,082 sqft · SingleFamily public records · 26 Days on market

Built 1940 1.13 ac lot $111/sqft · 25% below area Est $160k · 25% under

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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).

• ARV discount +15.0/15.0
• Cash flow +12.0/30.0
• Appreciation +10.0/10.0
• DSCR +3.5/10.0
• Livability +3.5/5.0
• 1% rule +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0

Listing remarks MLS

3 bedroom ranch home on over an acre of land!! Country living, yet conveniently located close to town for shopping and restaurants. New flooring throughout. Don't miss this great opportunity to make this your home, schedule an appointment today.

Key facts

• Acre of land
• New flooring
• 1.13 acre lot

Tags

• ACRE OF LAND
• NEW FLOORING

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $-29 ($-348/yr) — negative.
• To cash-flow at today's rent, offer at most $115k (4.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $98k (18.5% below list).
• Recommended offer: $98k (18.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 70/100 on livability (#365 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, schools F, amenities F.
• Fieldcrest CUSD 6 (rural): math 18% / reading 29% proficiency, ranked #361 of 620 in IL (top 58%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 8 active listings in the ZIP; 9 units permitted in Marshall County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($829 loan paydown + $12k appreciation (10.0% local appreciation)).
• Marshall County population projected at -32% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 8y ago; this cycle's ask is 20% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $62k; list at $120k implies a 95% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $97,708 (18.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.81% ✗
• Cap rate: 6.00%
• Cash-on-cash: -1.04%
• DSCR: 0.95
• GRM: 10.2

CMA / ARV

• ARV (median comp): $160,379
• List price: $119,900
• Delta: -25.24%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2608 State Route 17	0.00mi	3/1.0	1,082 (0%)	1mo	$124,000	$115	99

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

Projected returns pro-forma

9.99% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.5%
• Equity multiple: 2.89×
• Total profit: $63,358
• Equity at exit: $107,915

10-year hold

• IRR: 20.9%
• Equity multiple: 6.60×
• Total profit: $187,999
• Equity at exit: $232,614

Cash invested: $33,572 (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 61369

• Home prices YoY: 5.0%
• Active inventory: 8
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $977 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$122 /mo · $1,466/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$205
• Net cashflow: $-29

Break-even live

Break-even rent $1,014

Max offer price $114,780

Occupancy floor 98%

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-05-16
   status Pending 248-char remark

   Show marketing remark (248 chars)

   3 bedroom ranch home on over an acre of land!! Country living, yet conveniently located close to town for shopping and restaurants. New flooring throughout. Don't miss this great opportunity to make this your home, schedule an appointment today.

2. 2026-05-05
   status Active 248-char remark

   Show marketing remark (248 chars)

   3 bedroom ranch home on over an acre of land!! Country living, yet conveniently located close to town for shopping and restaurants. New flooring throughout. Don't miss this great opportunity to make this your home, schedule an appointment today.

3. 2026-04-23
   status Pending 248-char remark

   Show marketing remark (248 chars)

   3 bedroom ranch home on over an acre of land!! Country living, yet conveniently located close to town for shopping and restaurants. New flooring throughout. Don't miss this great opportunity to make this your home, schedule an appointment today.

4. 2026-04-14
   status Active 248-char remark

   Show marketing remark (248 chars)

   3 bedroom ranch home on over an acre of land!! Country living, yet conveniently located close to town for shopping and restaurants. New flooring throughout. Don't miss this great opportunity to make this your home, schedule an appointment today.

5. 2026-04-14
   price $119,900 248-char remark

   Show marketing remark (248 chars)

   3 bedroom ranch home on over an acre of land!! Country living, yet conveniently located close to town for shopping and restaurants. New flooring throughout. Don't miss this great opportunity to make this your home, schedule an appointment today.

6. 2026-01-30
   status Pending 248-char remark

   Show marketing remark (248 chars)

   3 bedroom ranch home on over an acre of land!! Country living, yet conveniently located close to town for shopping and restaurants. New flooring throughout. Don't miss this great opportunity to make this your home, schedule an appointment today.

7. 2026-01-23
   listed $99,900 Active 248-char remark

   Show marketing remark (248 chars)

   3 bedroom ranch home on over an acre of land!! Country living, yet conveniently located close to town for shopping and restaurants. New flooring throughout. Don't miss this great opportunity to make this your home, schedule an appointment today.

8. 2025-12-04
   historical
9. 2025-10-13
   listed Active
10. 2021-08-06
    historical
11. 2021-08-06
    historical
12. 2021-08-06
    historical
13. 2021-08-06
    historical
14. 2021-08-06
    historical
15. 2018-05-18
    soldstatus $61,500
16. 2018-03-05
    listed $61,500
17. 1997-04-04
    soldstatus $54,500

ⓘ 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: $1,466 · $122/mo
• Projected year-2 tax: $2,094 · $174/mo
• Expected delta: +$628/yr (+$52/mo · 42.8%)

ⓘ 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 ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,725
• − Mortgage interest: −$6,716
• − Property taxes: −$1,466
• − Insurance: −$600
• − Repairs & maintenance: −$938
• − Management: −$938
• − Depreciation: −$3,488
• Taxable loss: −$2,421
• Est. tax savings @ 24.0%: +$581
• After-tax cash flow: $233/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: Fieldcrest CUSD 6
• NCES district ID: 1715100
• Math proficiency: 18% ▲ 2.00%
• Reading proficiency: 29% ▼ -5.00%
• Median HH income: $50,151
• Composite: 20.79/100
• National rank: #8512
• State rank: #361 of 620 in IL

Livability — Toluca

• Score: 70/100
• State rank: #365
• US rank: #7569

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,441

Population outlook (Marshall County) Hauer SSP2

• Today (2025): 10,717 people
• By 2030: 9,992 · -6.8%
• By 2040: 8,554 · -20.2%
• By 2050: 7,236 · -32.5%
• By 2075: 4,958 · -53.7%
• By 2100: 3,326 · -69.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Hispanic / Latino 14% Two or more races 9% Black 1%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Lithuanian 5% Romanian 5% Portuguese 1%
• Foreign-born: 6% · Canada
• Languages at home: 90% English-only · Spanish 10%

Political lean MEDSL · Marshall

• 2024 margin: Solid R (+36.0) · D 31.2% · R 67.2% · Other 1.6%
• 2008→2024 swing: -35.0pp toward R · 2008: -1.0pp · 2024: -36.0pp
• All cycles: 2024: R+36.0 2020: R+34.5 2016: R+33.8 2012: R+14.3 2008: R+1.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 9.99%
• Current HPI: 208.5124
• 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

+120.0% since first listed

17 events — show timeline

• 2026-05-16 Pending — RMLSA as Distributed by MLS Grid
• 2026-05-05 Relisted — RMLSA as Distributed by MLS Grid
• 2026-04-23 Pending — RMLSA as Distributed by MLS Grid
• 2026-04-14 Relisted — RMLSA as Distributed by MLS Grid
• 2026-04-14 Price Changed $119,900 RMLSA as Distributed by MLS Grid
• 2026-01-30 Pending — RMLSA as Distributed by MLS Grid
• 2026-01-23 Listed $99,900 RMLSA as Distributed by MLS Grid
• 2025-12-04 Listing Removed — MRED as Distributed by MLS Grid
• 2025-10-13 Listed — MRED as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2018-05-18 Sold (MLS) $61,500 RMLSA as Distributed by MLS Grid
• 2018-03-05 Listed $61,500 RMLSA as Distributed by MLS Grid
• 1997-04-04 Sold (Public Records) $54,500 Public Records

Property tax history

+0.1%/yr

Latest (2024): $1,466 · +17.4% YoY. Source: county tax records.