411 E North St · Morrison, IL 61270

$63,000

2 bd · 1.0 ba · 798 sqft · Other · 2 Days on market

Built 1950 6,098 sqft lot

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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 +27.0/30.0
• DSCR +9.4/10.0
• 1% rule +8.4/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

2/3 Bedroom ranch home with a new roof, and newer flooring and paint throughout. This cute and cozy home offers an enclosed sun porch, main floor laundry, an on-demand water heater, and a large back yard. This one is a great price and ready to move in.

Key facts

• Spacious backyard
• New storage shed
• Three-season sunroom

Tags

• THREE-SEASON SUNROOM
• SPACIOUS BACKYARD
• MATURE FRONT LANDSCAPING
• NEW STORAGE SHED
• NEW ROOF
• NEW HVAC SYSTEM

Property features AI

Finance

• Other: Ownership is fee simple
• Financial info: Special service area: No
• HOA & community: No master association fees required

Exterior

• Parking: No parking details provided
• Security: CO detectors
• Utilities: Public water; Public sewer; Gas water heater
• Home design: Detached single-family home; One-story
• Construction: Built approximately 71–80 years ago; Block foundation; Block and vinyl siding construction; Built before 1978
• Exterior features: Level lot; Lot dimensions approximately 51 x 120

Interior

• Kitchen: Galley-style kitchen (13 x 10) with luxury vinyl flooring; Range; Microwave
• Bedrooms: Master bedroom on main level (9 x 9) with luxury vinyl flooring; Bedroom 2 on main level (9 x 7) with luxury vinyl flooring; Additional enclosed porch (13 x 10) — listed as a room
• Flooring: Luxury vinyl flooring in living room, family room, kitchen, master bedroom, and bedroom 2
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas forced-air heating; Central air conditioning; CO detectors
• Interior features: Five total rooms; Unfinished partial basement
• Laundry & utility: Laundry room; Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $63k.

Deal economics

• At list price, monthly cash flow is $177 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($847 rent vs $63k).
• Cap rate 9.7% vs local median 4.6% in Morrison — 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 81/100 on livability (#85 in IL, #1,376 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute F.
• Morrison CUSD 6 (town): math 22% / reading 31% proficiency, ranked #292 of 620 in IL (top 47%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Morrison High School (math 22% / reading 32%, grade F, #218 of 693 statewide, top 35%, 296 students, 0% FRL) — zoned schools average 0% FRL vs 32% district-wide (32 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 35 active listings in the ZIP; 19 units permitted in Whiteside County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $436 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Whiteside County population projected at -21% 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 $18k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 10 sale attempts since 5y 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 $45k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $63,000

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.34% ✓
• Cap rate: 9.67%
• Cash-on-cash: 12.05%
• DSCR: 1.54
• GRM: 6.2

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: 1.7%
• Equity multiple: 1.06×
• Total profit: $1,119
• Equity at exit: $9,394

10-year hold

• IRR: 11.3%
• Equity multiple: 1.89×
• Total profit: $15,692
• Equity at exit: $5,447

Cash invested: $17,640 (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 61270

• Home prices YoY: -22.4%
• Active inventory: 35
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $847 medium
• Mortgage (P&I): −$330
• Tax from tax record: −$135 /mo · $1,621/yr
• Insurance: −$26
• HOA: −$0
• Vacancy / Maint / Mgmt: −$178
• Net cashflow: $177

Break-even live

Break-even rent $622

Max offer price $63,000

Occupancy floor 74%

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: $15,750
• Closing costs: $1,890
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-18
   days on market $63,000 Active 2 DOM
2. 2026-06-17
   remarks 699-char remark
3. 2026-06-17
   listed $63,000 Active 1 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: $1,621 · $135/mo
• Projected year-2 tax: $1,621 · $135/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥104°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,160
• − Mortgage interest: −$3,529
• − Property taxes: −$1,621
• − Insurance: −$315
• − Repairs & maintenance: −$813
• − Management: −$813
• − Depreciation: −$1,833
• Taxable income: $1,236
• Est. tax owed @ 24.0%: −$297
• After-tax cash flow: $1,829/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: Morrison CUSD 6
• NCES district ID: 1726710
• Math proficiency: 22% ▼ -10.00%
• Reading proficiency: 31% ▼ -12.00%
• Median HH income: $51,562
• Composite: 23.42/100
• National rank: #7889
• State rank: #292 of 620 in IL

Livability — Morrison

• Score: 81/100
• State rank: #85
• US rank: #1376

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Morrison, IL
• Population (ZIP): 7,067

Population outlook (Whiteside County) Hauer SSP2

• Today (2025): 53,736 people
• By 2030: 51,657 · -3.9%
• By 2040: 47,169 · -12.2%
• By 2050: 42,613 · -20.7%
• By 2075: 32,691 · -39.2%
• By 2100: 22,638 · -57.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 4% Black 1%
• Common ancestry: Iranian 14% Lithuanian 4% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 1%

Political lean MEDSL · Whiteside

• 2024 margin: R (+14.7) · D 41.7% · R 56.4% · Other 2.0%
• 2008→2024 swing: -32.3pp toward R · 2008: 17.6pp · 2024: -14.7pp
• All cycles: 2024: R+14.7 2020: R+8.3 2016: R+6.3 2012: D+17.3 2008: D+17.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -42.25%
• Current HPI: 146.0419
• 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

+35.5% since first listed

35 events — show timeline

• 2026-06-16 Listed $63,000 MRED as Distributed by MLS Grid
• 2025-07-31 Sold (Public Records) $45,000 Public Records
• 2025-07-29 Sold (MLS) $45,000 NWIAR
• 2025-07-03 Pending — NWIAR
• 2025-06-20 Relisted — NWIAR
• 2025-06-08 Pending — NWIAR
• 2025-06-06 Relisted — NWIAR
• 2025-05-30 Pending — NWIAR
• 2025-05-22 Listed $54,900 NWIAR
• 2025-01-01 Listing Removed — RMLSA as Distributed by MLS Grid
• 2024-12-31 Listing Removed — MRED as Distributed by MLS Grid
• 2024-09-25 Price Changed — RMLSA as Distributed by MLS Grid
• 2024-09-10 Price Changed — RMLSA as Distributed by MLS Grid
• 2024-08-30 Listed — RMLSA as Distributed by MLS Grid
• 2024-08-12 Listing Removed — MRED as Distributed by MLS Grid
• 2022-10-28 Sold (MLS) $20,000 MRED as Distributed by MLS Grid
• 2022-10-28 Sold (MLS) $20,000 RMLSA as Distributed by MLS Grid
• 2022-10-28 Sold (MLS) $20,000 MRED as Distributed by MLS Grid
• 2022-10-04 Pending — MRED as Distributed by MLS Grid
• 2022-10-04 Listed $20,000 RMLSA as Distributed by MLS Grid
• 2022-10-04 Listed $20,000 MRED as Distributed by MLS Grid
• 2022-07-28 Price Changed $21,900 MRED as Distributed by MLS Grid
• 2022-06-24 Relisted — MRED as Distributed by MLS Grid
• 2022-06-24 Price Changed $24,900 MRED as Distributed by MLS Grid
• 2022-06-16 Listing Removed — MRED as Distributed by MLS Grid
• 2022-04-21 Price Changed $24,900 MRED as Distributed by MLS Grid
• 2022-03-18 Price Changed $26,900 MRED as Distributed by MLS Grid
• 2022-02-03 Price Changed $29,900 MRED as Distributed by MLS Grid
• 2022-01-07 Price Changed $31,900 MRED as Distributed by MLS Grid
• 2021-12-17 Listed $34,900 MRED as Distributed by MLS Grid
• 2021-11-11 Sold (MLS) $23,500 MRED as Distributed by MLS Grid
• 2021-10-11 Pending — MRED as Distributed by MLS Grid
• 2021-10-05 Price Changed $29,900 MRED as Distributed by MLS Grid
• 2021-08-26 Listed $34,900 MRED as Distributed by MLS Grid
• 2005-07-27 Sold (Public Records) $46,500 Public Records

Property tax history

+6.1%/yr

Latest (2024): $1,621 · +7.3% YoY. Source: county tax records.