203 S Yates St · Alpha, IL 61413

$76,000

2 bd · 1.0 ba · 864 sqft · SingleFamily public records · 21 Days on market

Built 1963 8,712 sqft lot $88/sqft · 12% below area Est $86k · 12% under

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Why this score? — see what drove the A- 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
• ARV discount +12.8/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +6.8/10.0
• Livability +3.2/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Nicely updated 2 bedroom ranch. Newer carpet, roof, bath with large walk-in shower. Kitchen has newer cabinets & counter. All newer windows. New Asphalt driveway. Nice deck too! Great buy on this home. All ready to just move in!

Key facts

• Back deck ramp
• Workshop shed
• Eat in kitchen

Tags

• BACK DECK RAMP
• WORKSHOP SHED
• CRAWL SPACE ENTRY
• EAT IN KITCHEN
• REPLACEMENT WINDOWS

Property features AI

Finance

• Other: Fee simple ownership; Property currently not leased
• HOA & community: No master association required

Exterior

• Parking: Detached garage with garage door opener (garage owned); Asphalt parking; Total parking for 1 vehicle
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; One-story; Built before 1978; Accessible / disability access features
• Construction: Vinyl siding; Asphalt roof; Concrete perimeter foundation; Estimated age 61–70 years
• Exterior features: Level lot; Lot dimensions approximately 50 x 178; Lot less than 0.25 acre

Interior

• Kitchen: Range; Gas oven; Refrigerator; Eating area / table space
• Bedrooms: Master bedroom on main level (13 x 9); Second bedroom on main level (11 x 10); Additional bedrooms listed (total 2 bedrooms)
• Flooring: Carpet in living areas and bedrooms; Vinyl in kitchen and laundry
• Bathrooms: 1 full bathroom (no tub)
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: First-floor bedroom; Crawl space basement; Total of 4 rooms; Ceiling fan(s)
• Laundry & utility: Main-level laundry; Electric dryer hookup; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $76k.

Deal economics

• At list price, monthly cash flow is $299 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $76k).
• Recommended offer: $75k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#815 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B+; Watch: crime D+, amenities F, commute F.
• Alwood CUSD 225 (rural): math 20% / reading 45% proficiency, ranked #428 of 919 in IL (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Alwood Elem School (math 17% / reading 27%, grade F, #940 of 2,056 statewide, top 49%, 188 students, 0% FRL) — zoned schools average 0% FRL vs 27% district-wide (27 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 12 active listings in the ZIP; 32 units permitted in Henry County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($525 loan paydown + $3k appreciation (3.6% local appreciation)).
• Henry County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.6% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 10, 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 21 days — a 2% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 14y 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.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price.

Recommended offer $74,860 (1.5% below list)

Questions for the listing agent

1. Built in 1963 — 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. 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?
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. 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.
7. 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.
8. 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: 1.53% ✓
• Cap rate: 11.01%
• Cash-on-cash: 16.85%
• DSCR: 1.75
• GRM: 5.4

CMA / ARV

• ARV (median comp): $86,110
• List price: $76,000
• Delta: -11.74%
• Verdict: UNDERPRICED
• Comps: 10 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
203 S Yates St	0.00mi	2/1.0	864 (0%)	0mo	$77,500	$90	100
201 W E St	0.33mi	2/2.0	800 (-7%)	4mo	$135,000	$169	65
609 N 1st St	0.62mi	2/1.0	790 (-9%)	11mo	$85,000	$108	48
609 N 1st St	0.62mi	2/1.0	790 (-9%)	11mo	$85,000	$108	48

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

Projected returns pro-forma

3.63% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.7%
• Equity multiple: 2.45×
• Total profit: $30,836
• Equity at exit: $36,914

10-year hold

• IRR: 25.0%
• Equity multiple: 4.77×
• Total profit: $80,120
• Equity at exit: $59,118

Cash invested: $21,280 (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 61413

• Home prices YoY: 2.4%
• Active inventory: 12
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,166 medium
• Mortgage (P&I): −$399
• Tax from tax record: −$192 /mo · $2,301/yr
• Insurance: −$32
• HOA: −$0
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $299

Break-even live

Break-even rent $787

Max offer price $76,000

Occupancy floor 69%

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: $19,000
• Closing costs: $2,280
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-05-18
   status Pending 834-char remark
2. 2026-04-27
   listed $76,000 Active 834-char remark
3. 2012-04-05
   soldstatus $52,000 232-char remark

   Show marketing remark (232 chars)

   Nicely updated 2 bedroom ranch. Newer carpet, roof, bath with large walk-in shower. Kitchen has newer cabinets & counter. All newer windows. New Asphalt driveway. Nice deck too! Great buy on this home. All ready to just move in!

4. 2012-04-05
   soldstatus $52,000 232-char remark

   Show marketing remark (232 chars)

   Nicely updated 2 bedroom ranch. Newer carpet, roof, bath with large walk-in shower. Kitchen has newer cabinets & counter. All newer windows. New Asphalt driveway. Nice deck too! Great buy on this home. All ready to just move in!

5. 2012-01-13
   listed $59,900 232-char remark

   Show marketing remark (232 chars)

   Nicely updated 2 bedroom ranch. Newer carpet, roof, bath with large walk-in shower. Kitchen has newer cabinets & counter. All newer windows. New Asphalt driveway. Nice deck too! Great buy on this home. All ready to just move in!

6. 2012-01-13
   listed $59,900 232-char remark

   Show marketing remark (232 chars)

   Nicely updated 2 bedroom ranch. Newer carpet, roof, bath with large walk-in shower. Kitchen has newer cabinets & counter. All newer windows. New Asphalt driveway. Nice deck too! Great buy on this home. All ready to just move in!

ⓘ 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: $2,301 · $192/mo
• Projected year-2 tax: $2,301 · $192/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 ≥103°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,986
• − Mortgage interest: −$4,257
• − Property taxes: −$2,301
• − Insurance: −$380
• − Repairs & maintenance: −$1,119
• − Management: −$1,119
• − Depreciation: −$2,211
• Taxable income: $2,599
• Est. tax owed @ 24.0%: −$624
• After-tax cash flow: $2,961/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: Alwood CUSD 225
• NCES district ID: 1703660
• Math proficiency: 20% ▬ 0.00%
• Reading proficiency: 45% ▬ 0.00%
• Median HH income: $54,177
• Composite: 31.36/100
• National rank: #11220
• State rank: #428 of 919 in IL

Livability — Alpha

• Score: 63/100
• State rank: #815
• US rank: #16068

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Alpha, IL
• Population (ZIP): 1,038

Population outlook (Henry County) Hauer SSP2

• Today (2025): 47,376 people
• By 2030: 45,920 · -3.1%
• By 2040: 42,829 · -9.6%
• By 2050: 39,606 · -16.4%
• By 2075: 31,848 · -32.8%
• By 2100: 23,503 · -50.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 13% Hispanic / Latino 8%
• Hispanic origin (detail): Mexican 7% Puerto Rican 1%
• Common ancestry: Italian 2% Portuguese 2% Lithuanian 2%
• Foreign-born: 0%
• Languages at home: 95% English-only · Spanish 4% Korean 1%

Political lean MEDSL · Henry

• 2024 margin: Strong R (+24.5) · D 36.8% · R 61.3% · Other 1.9%
• 2008→2024 swing: -32.2pp toward R · 2008: 7.7pp · 2024: -24.5pp
• All cycles: 2024: R+24.5 2020: R+21.4 2016: R+21.2 2012: D+3.1 2008: D+7.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.63%
• Current HPI: 156.04
• 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

+29.4% since first listed

7 events — show timeline

• 2026-06-12 Sold (MLS) $77,500 MRED as Distributed by MLS Grid
• 2026-05-18 Pending — MRED as Distributed by MLS Grid
• 2026-04-27 Listed $76,000 MRED as Distributed by MLS Grid
• 2012-04-05 Sold (MLS) $52,000 RMLSA as Distributed by MLS Grid
• 2012-04-05 Sold (MLS) $52,000 MRED as Distributed by MLS Grid
• 2012-01-13 Listed $59,900 RMLSA as Distributed by MLS Grid
• 2012-01-13 Listed $59,900 MRED as Distributed by MLS Grid

Property tax history

+3.7%/yr

Latest (2025): $2,301 · +4.2% YoY. Source: county tax records.