209/211 Madison · Washington, IL 61571

$179,900

6 bd · 4.0 ba · 1,250 sqft · MultiFamily · 8 Days on market

Built 1945 Average condition

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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
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• ARV discount +7.5/15.0
• Schools +3.8/10.0
• Livability +3.7/5.0
• Condition / age +2.8/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

COMING SOON - Well maintained duplex in Washington offering a strong investment opportunity. One unit is owner occupied, while the second unit is tenant occupied with a lease expiring in August. Ideally located near schools with each unit featuring a detached one car garage. The gross annual rent is based on one side being rented. Taxes reflect a Senior freeze.

Key facts

• Garage
• Built 1945
• Listed 8 days

Tags

• STRONG INVESTMENT OPPORTUNITY
• DETACHED ONE CAR GARAGE
• IDEALLY LOCATED NEAR SCHOOLS

Property features AI

Finance

• Financial info: Two-unit income property; Unit 2 current rent: $775

Exterior

• Parking: Detached parking (total 2 spaces); Each unit includes 1 covered parking space
• Utilities: Public water; Public sewer
• Home design: Duplex (residential income); Single entry level
• Construction: Built in 1945; Shingle roof
• Exterior features: Level lot; Paved road access

Interior

• Bedrooms: Unit 1: 1 bedroom; Unit 2: 2 bedrooms
• Bathrooms: Unit 1: 1 full bathroom; Unit 2: 1 full bathroom
• Interior features: Cable available
• Laundry & utility: Each unit has hookup connections for laundry

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $180k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $807 ($10k/yr) — positive. Per door: $403/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $180k).
• Cap rate 11.7% vs local median 3.3% in Washington — 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 73/100 on livability (#272 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety F.
• Washington Chsd 308 (suburban): math 42% / reading 42% proficiency, ranked #112 of 620 in IL (top 18%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Washington Comm High School (math 42% / reading 42%, grade F, #76 of 693 statewide, top 12%, 1,484 students, 0% FRL).
• Market conditions: 132 active listings in the ZIP; 77 units permitted in Tazewell County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Tazewell County population projected at -15% 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 $50k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $179,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.44% ✓
• Cap rate: 11.67%
• Cash-on-cash: 19.22%
• DSCR: 1.86
• GRM: 5.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 11.2%
• Equity multiple: 1.44×
• Total profit: $22,273
• Equity at exit: $26,824

10-year hold

• IRR: 20.2%
• Equity multiple: 2.70×
• Total profit: $85,721
• Equity at exit: $15,554

Cash invested: $50,372 (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 61571

• Active inventory: 132
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $2,595 medium
• Mortgage (P&I): −$943
• Tax est. 1.5%: −$225 /mo · $2,698/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$545
• Net cashflow: $807

Break-even live

Break-even rent $1,574

Max offer price $179,900

Occupancy floor 64%

Sensitivity live

Price	-10% $931	-5% $869	+0% $807	+5% $745	+10% $682
Rent	-10% $602	-5% $704	+0% $807	+5% $909	+10% $1,012
Rate	-1.0pp $897	-0.5pp $853	base $807	+0.5pp $760	+1.0pp $713

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$2,594
Total (2 units)			$2,595

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-21
   days on market $179,900 Coming Soon 8 DOM
2. 2026-06-18
   days on market $179,900 Coming Soon 6 DOM
3. 2026-06-17
   days on market $179,900 Coming Soon 5 DOM
4. 2026-06-16
   days on market $179,900 Coming Soon 4 DOM
5. 2026-06-15
   days on market $179,900 Coming Soon 3 DOM
6. 2026-06-12
   remarks 363-char remark
7. 2026-06-12
   listed $179,900 Coming Soon 1 DOM

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

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 ≥104°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: $31,140
• − Mortgage interest: −$10,077
• − Property taxes: −$2,698
• − Insurance: −$900
• − Repairs & maintenance: −$2,491
• − Management: −$2,491
• − Depreciation: −$5,233
• Taxable income: $7,249
• Est. tax owed @ 24.0%: −$1,740
• After-tax cash flow: $7,942/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.

Condition & rehab AI · 4 photos

Average 55/100 Moderate rehab

A moderate rehab project is needed to bring this multi-family property up to average condition, with potential for significant value increase through exterior updates and landscaping.

Repairs flagged

• Minor roof — Some discoloration visible
• Minor exterior paint — Light wear and tear on siding

Value-add opportunities

• Both Painting and minor repairs to the exterior — Improves curb appeal and value
• Both Landscaping improvements — Enhances curb appeal and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Some discoloration visible	Minor	$500–3,000
exterior paint · Light wear and tear on siding	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Painting and minor repairs to the exterior — Improves curb appeal and value ↑
• Both Landscaping improvements — Enhances curb appeal and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Washington Chsd 308
• NCES district ID: 1740980
• Math proficiency: 42% ▬ 0.00%
• Reading proficiency: 42% ▼ -2.00%
• Median HH income: $66,029
• Composite: 37.69/100
• National rank: #4361
• State rank: #112 of 620 in IL

Livability — Washington

• Score: 73/100
• State rank: #272
• US rank: #5136

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Washington, IL
• City population: 24,544
• Population (ZIP): 24,544

Population outlook (Tazewell County) Hauer SSP2

• Today (2025): 131,252 people
• By 2030: 128,028 · -2.5%
• By 2040: 120,443 · -8.2%
• By 2050: 111,872 · -14.8%
• By 2075: 89,843 · -31.5%
• By 2100: 66,468 · -49.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 3% Two or more races 3% Asian 1%
• Common ancestry: Lithuanian 4% Italian 3% Iranian 2%
• Foreign-born: 2% · Canada, China
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Tazewell

• 2024 margin: Strong R (+26.7) · D 35.8% · R 62.5% · Other 1.8%
• 2008→2024 swing: -20.6pp toward R · 2008: -6.0pp · 2024: -26.7pp
• All cycles: 2024: R+26.7 2020: R+25.6 2016: R+28.5 2012: R+17.9 2008: R+6.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -135.85%
• Current HPI: 149.5627
• 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

• 2026-06-12 Coming Soon $179,900 RMLSA as Distributed by MLS Grid