1020 Marion St · Warsaw, IL 62379

$130,000

4 bd · 2.0 ba · 1,518 sqft · SingleFamily · 3 Days on market

Built 1980 Est $140k · 7% 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).

• Cash flow +13.0/30.0
• ARV discount +10.6/15.0
• Appreciation +9.0/10.0
• 1% rule +4.4/10.0
• DSCR +3.9/10.0
• Livability +3.4/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

GREAT HOME, WITH A GREAT LOCATION! Only 1 block from the Warsaw Schools, 2 Blocks from the Warsaw School Sports Complex this home is full of convenience for the whole family. 3 or 4 bedroom, 1-1/2 bath, great eat in kitchen with handmade custom cabinets. 3 bedrooms and a full bath up. 1 bedroom, 1/2 bath, laundry room and family room down with walk out basement. One car attached garage. Additional 2 car detached garage/shop. This home has been recently remodeled and ready to move into. Call today as this won't last long!

Key facts

• Theater room
• Small outbuildings
• Jacuzzi tub

Tags

• JACUZZI TUB
• OVERSIZED CORNER SHOWER
• LARGE PRIVATE DECK
• THEATER ROOM
• SMALL OUTBUILDINGS

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $-6 ($-77/yr) — negative.
• To cash-flow at today's rent, offer at most $129k (0.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $122k (6.5% below list).
• Recommended offer: $122k (6.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 68/100 on livability (#459 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, schools D, employment D.
• Warsaw CUSD 316 (rural): math 25% / reading 35% proficiency, ranked #489 of 919 in IL (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 20 active listings in the ZIP.

Forward outlook

• In year one you build about $11k of equity ($899 loan paydown + $10k appreciation (8.0% local appreciation)).
• Hancock County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (8.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 9y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $121,611 (6.5% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 0.94% ✗
• Cap rate: 6.23%
• Cash-on-cash: -0.21%
• DSCR: 0.99
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $139,656
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
905 Clark St	0.12mi	3/2.0 (-1)	1,620 (+7%)	6mo	$112,000	$69	73
255 North 2nd St	0.74mi	3/1.0 (-1)	1,520 (+0%)	3mo	$85,000	$56	54
855 Leclaire St	0.11mi	4/3.0	1,356 (-11%)	24mo	$195,500	$144	53
1020 Francis Sartory Rd	0.27mi	4/1.5	1,683 (+11%)	23mo	$327,500	$195	48
435 Wilcox St	0.42mi	3/2.0 (-1)	1,680 (+11%)	22mo	$155,000	$92	39
415 Leclaire	0.44mi	3/1.0 (-1)	1,324 (-13%)	18mo	$95,000	$72	34

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

Projected returns pro-forma

7.99% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 19.8%
• Equity multiple: 2.46×
• Total profit: $53,130
• Equity at exit: $98,686

10-year hold

• IRR: 18.5%
• Equity multiple: 5.25×
• Total profit: $154,573
• Equity at exit: $195,817

Cash invested: $36,400 (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 62379

• Home prices YoY: 5.6%
• Active inventory: 20
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,216 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$231 /mo · $2,775/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $-6

Break-even live

Break-even rent $1,224

Max offer price $128,862

Occupancy floor 96%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $130,000 Active 3 DOM
2. 2026-06-17
   days on market $130,000 Active 2 DOM
3. 2026-06-16
   pricedays on marketlisting id $130,000 Active 1 DOM
4. 2026-06-15
   days on market $139,900 Active 29 DOM
5. 2026-06-13
   days on market $139,900 Active 27 DOM
6. 2026-06-12
   days on market $139,900 Active 26 DOM
7. 2026-06-09
   days on market $139,900 Active 23 DOM
8. 2026-06-08
   days on market $139,900 Active 22 DOM
9. 2026-06-07
   days on market $139,900 Active 21 DOM
10. 2026-06-04
    days on market $139,900 Active 17 DOM
11. 2026-06-02
    days on market $139,900 Active 16 DOM
12. 2026-06-01
    days on market $139,900 Active 15 DOM
13. 2026-05-31
    days on market $139,900 Active 14 DOM
14. 2026-05-31
    days on market $139,900 Active 13 DOM
15. 2026-05-18
    listed $139,900 Active
16. 2022-01-26
    soldstatus $120,000
17. 2018-04-27
    soldstatus $83,740 526-char remark

    Show marketing remark (526 chars)

    GREAT HOME, WITH A GREAT LOCATION! Only 1 block from the Warsaw Schools, 2 Blocks from the Warsaw School Sports Complex this home is full of convenience for the whole family. 3 or 4 bedroom, 1-1/2 bath, great eat in kitchen with handmade custom cabinets. 3 bedrooms and a full bath up. 1 bedroom, 1/2 bath, laundry room and family room down with walk out basement. One car attached garage. Additional 2 car detached garage/shop. This home has been recently remodeled and ready to move into. Call today as this won't last long!

18. 2017-05-07
    listed $94,900 526-char remark

    Show marketing remark (526 chars)

    GREAT HOME, WITH A GREAT LOCATION! Only 1 block from the Warsaw Schools, 2 Blocks from the Warsaw School Sports Complex this home is full of convenience for the whole family. 3 or 4 bedroom, 1-1/2 bath, great eat in kitchen with handmade custom cabinets. 3 bedrooms and a full bath up. 1 bedroom, 1/2 bath, laundry room and family room down with walk out basement. One car attached garage. Additional 2 car detached garage/shop. This home has been recently remodeled and ready to move into. Call today as this won't last long!

ⓘ 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: $2,775 · $231/mo
• Projected year-2 tax: $2,863 · $239/mo
• Expected delta: +$88/yr (+$7/mo · 3.2%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,593
• − Mortgage interest: −$7,282
• − Property taxes: −$2,775
• − Insurance: −$650
• − Repairs & maintenance: −$1,167
• − Management: −$1,167
• − Depreciation: −$3,782
• Taxable loss: −$2,231
• Est. tax savings @ 24.0%: +$535
• After-tax cash flow: $458/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: Warsaw CUSD 316
• NCES district ID: 1740890
• Math proficiency: 25% ▲ 5.00%
• Reading proficiency: 35% ▬ 0.00%
• Median HH income: $48,724
• Composite: 28.9/100
• National rank: #11950
• State rank: #489 of 919 in IL

Livability — Warsaw

• Score: 68/100
• State rank: #459
• US rank: #9523

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Warsaw, IL
• Population (ZIP): 1,828

Population outlook (Hancock County) Hauer SSP2

• Today (2025): 17,042 people
• By 2030: 16,056 · -5.8%
• By 2040: 13,912 · -18.4%
• By 2050: 11,879 · -30.3%
• By 2075: 8,302 · -51.3%
• By 2100: 5,846 · -65.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 2%
• Common ancestry: Slovak 5% Lithuanian 2% Iranian 1%
• Foreign-born: 1%
• Languages at home: 98% English-only · Other Indo-European 2%

Political lean MEDSL · Hancock

• 2024 margin: Solid R (+50.0) · D 24.1% · R 74.1% · Other 1.8%
• 2008→2024 swing: -39.2pp toward R · 2008: -10.8pp · 2024: -50.0pp
• All cycles: 2024: R+50.0 2020: R+48.9 2016: R+50.8 2012: R+19.0 2008: R+10.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.99%
• Current HPI: 150.9375
• 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

+47.4% since first listed

4 events — show timeline

• 2026-05-18 Listed $139,900 FSBO.com
• 2022-01-26 Sold (Public Records) $120,000 Public Records
• 2018-04-27 Sold (MLS) $83,740 IAR
• 2017-05-07 Listed $94,900 IAR

Property tax history

+9.5%/yr

Latest (2024): $2,775 · +5.6% YoY. Source: county tax records.