405 S Van Buren St · Litchfield, IL 62056

$87,900

1 bd · 1.0 ba · 864 sqft · SingleFamily · 17 Days on market

Built 1900 6,573 sqft lot Est $88k · at est.

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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 +22.2/30.0
• ARV discount +7.6/15.0
• DSCR +7.1/10.0
• 1% rule +4.6/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to your new home!! This lovely, 1 bedroom, 1 bathroom open floor plan, 934 square foot home is everything you have been looking for! The open dining room and living room offer all the space needed for entertaining! The kitchen features a built in breakfast bar for a convenient dining experience! A large attached garage offers parking out of the elements year round with extra storage space for all your needs!! Off the backdoor is a great deck that leads to a great backyard for entertaining! Just a short walk from the downtown of Litchfield, parks, and schools, this is the perfect location for your new home!! Call your favorite Real Estate Professional today to schedule a showing before it's too late!!

Key facts

• Open living room
• U-shaped kitchen
• Back deck

Tags

• OPEN LIVING ROOM
• U-SHAPED KITCHEN
• BACK DECK
• NICE-SIZED YARD

Property features AI

Finance

• Other: Private ownership; Lease not considered

Exterior

• Parking: Attached garage (1 car) — approximately 29 x 12
• Utilities: Public water; Public sewer; Electric service by Ameren; Electricity connected; Sewer connected
• Home design: Single-family residence; One level
• Construction: Vinyl siding
• Exterior features: Deck; Front porch; Back yard

Interior

• Kitchen: Oven; Range; Refrigerator
• Bedrooms: 1 bedroom (located on the main level)
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Breakfast room; Living room; Dining room; Laundry room (main level); Crawl space basement; Patio
• Laundry & utility: Washer and dryer included; Laundry on main level

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $88k.

Deal economics

• At list price, monthly cash flow is $144 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $84k (4.3% below list).
• Recommended offer: $84k (4.3% below list) — sets the bar for 1% rule.
• Cap rate 8.3% vs local median 4.5% in Litchfield — 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 68/100 on livability (#448 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, employment D+, amenities F.
• Litchfield CUSD 12 (town): math 15% / reading 34% proficiency, ranked #359 of 620 in IL (top 58%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Litchfield Senior High School (math 22% / reading 27%, grade F, #256 of 693 statewide, top 44%, 411 students, 0% FRL) — zoned schools average 0% FRL vs 49% district-wide (49 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 59 active listings in the ZIP; 12 units permitted in Montgomery County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $608 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Montgomery County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 13y 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 $69k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $84,112 (4.3% below list)

Questions for the listing agent

1. Built in 1900 — 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. 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?
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: 0.96% ✗
• Cap rate: 8.26%
• Cash-on-cash: 7.01%
• DSCR: 1.31
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $88,128
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
708 S Jefferson St	0.34mi	2/1.0 (+1)	864 (0%)	2mo	$99,000	$115	77
405 S Van Buren St	0.00mi	1/1.0	934 (+8%)	14mo	$70,000	$75	75
124 W Buchanan St	0.31mi	2/1.0 (+1)	884 (+2%)	4mo	$27,000	$31	73
821 S Chestnut St	0.35mi	2/1.0 (+1)	871 (+1%)	6mo	$116,900	$134	72
614 E Tyler Ave	0.32mi	2/1.0 (+1)	811 (-6%)	1mo	$82,000	$101	69
212 E Sargent St	0.10mi	2/1.0 (+1)	950 (+10%)	15mo	$135,000	$142	62
128 E Columbia St	0.13mi	2/1.0 (+1)	778 (-10%)	13mo	$20,000	$26	61
705 N Locust St	0.68mi	2/1.0 (+1)	888 (+3%)	2mo	$102,000	$115	57
107 S Douglas St	0.61mi	2/1.0 (+1)	982 (+14%)	6mo	$49,900	$51	39
1250 E Ryder St	0.72mi	2/1.0 (+1)	759 (-12%)	5mo	$60,000	$79	37
1112 Harrison St	0.67mi	2/1.0 (+1)	944 (+9%)	15mo	$129,900	$138	36
909 N Chestnut St	0.61mi	2/1.0 (+1)	980 (+13%)	9mo	$99,900	$102	36

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: -5.6%
• Equity multiple: 0.79×
• Total profit: $-5,128
• Equity at exit: $13,106

10-year hold

• IRR: 4.0%
• Equity multiple: 1.29×
• Total profit: $7,160
• Equity at exit: $7,600

Cash invested: $24,612 (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 62056

• Home prices YoY: -26.5%
• Active inventory: 59
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $841 medium
• Mortgage (P&I): −$461
• Tax from tax record: −$23 /mo · $278/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$177
• Net cashflow: $144

Break-even live

Break-even rent $659

Max offer price $87,900

Occupancy floor 78%

Sensitivity live

Price	-10% $194	-5% $169	+0% $144	+5% $119	+10% $94
Rent	-10% $77	-5% $111	+0% $144	+5% $177	+10% $210
Rate	-1.0pp $188	-0.5pp $166	base $144	+0.5pp $121	+1.0pp $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: $21,975
• Closing costs: $2,637
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-21
   days on market $87,900 Active 17 DOM
2. 2026-06-21
   days on market $87,900 Active 16 DOM
3. 2026-06-18
   days on market $87,900 Active 14 DOM
4. 2026-06-17
   days on market $87,900 Active 13 DOM
5. 2026-06-16
   days on market $87,900 Active 12 DOM
6. 2026-06-15
   days on market $87,900 Active 11 DOM
7. 2026-06-13
   days on market $87,900 Active 9 DOM
8. 2026-06-12
   days on market $87,900 Active 8 DOM
9. 2026-06-09
   days on market $87,900 Active 5 DOM
10. 2026-06-08
    days on market $87,900 Active 4 DOM
11. 2026-06-07
    days on market $87,900 Active 3 DOM
12. 2026-06-07
    remarks 609-char remark
13. 2026-06-07
    listed $87,900 Active 2 DOM

ⓘ 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: $278 · $23/mo
• Projected year-2 tax: $1,137 · $95/mo
• Expected delta: +$859/yr (+$72/mo · 309.2%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥106°F today · 20 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: $10,093
• − Mortgage interest: −$4,924
• − Property taxes: −$278
• − Insurance: −$440
• − Repairs & maintenance: −$807
• − Management: −$807
• − Depreciation: −$2,557
• Taxable income: $280
• Est. tax owed @ 24.0%: −$67
• After-tax cash flow: $1,658/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: Litchfield CUSD 12
• NCES district ID: 1723250
• Math proficiency: 15% ▼ -5.00%
• Reading proficiency: 34% ▼ -8.00%
• Median HH income: $43,133
• Composite: 20.91/100
• National rank: #8485
• State rank: #359 of 620 in IL

Livability — Litchfield

• Score: 68/100
• State rank: #448
• US rank: #9263

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Litchfield, IL
• City population: 8,591
• Population (ZIP): 8,591

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 (99%)
• Race & ethnicity: White 99%
• Common ancestry: Slovak 3% Lithuanian 2% Romanian 1%
• Foreign-born: 1%

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: ▼ -53.86%
• Current HPI: 149.5766
• 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

+131.9% since first listed

13 events — show timeline

• 2026-06-04 Listed $87,900 MARIS as Distributed by MLS Grid
• 2025-05-01 Sold (Public Records) $69,000 Public Records
• 2025-05-01 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2025-04-28 Pending — MARIS as Distributed by MLS Grid
• 2025-03-05 Contingent — MARIS as Distributed by MLS Grid
• 2025-01-24 Listed $70,000 MARIS as Distributed by MLS Grid
• 2025-01-20 Coming Soon $70,000 MARIS as Distributed by MLS Grid
• 2014-03-06 Sold (Public Records) $40,000 Public Records
• 2014-03-05 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2013-12-04 Listed $41,500 MARIS as Distributed by MLS Grid
• 2013-02-26 Sold (Public Records) $34,000 Public Records
• 2013-02-25 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2013-01-16 Listed $37,900 MARIS as Distributed by MLS Grid

Property tax history

-11.1%/yr

Latest (2024): $278 · -2.2% YoY. Source: county tax records.