902 W Grove St · Bloomington, IL 61701

$129,900

3 bd · 2.0 ba · — sqft · Other · 62 Days on market

6,555 sqft lot Est $180k · 28% under

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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 +24.3/30.0
• ARV discount +15.0/15.0
• DSCR +7.8/10.0
• 1% rule +6.9/10.0
• Rent growth +3.9/5.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Main floor is nice, 2nd floor is unfinished, needs work to be habitable. Main floor unit has been rented for $1,100p/month,, currently vacant upper unit may get $800-900 if finished, 2 car detached garage off side alley, fenced back yard. Tons of potential for the buy with construction skills.

Key facts

• Fenced back yard
• 6,555 sq ft lot
• 2 garage spots

Tags

• 2 CAR DETACHED GARAGE
• FENCED BACK YARD

🏷️ Possibly a rental listed for sale. The $129,900 price doesn't fit this home's estimated sale value (~$180,412) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $130k.

Deal economics

• At list price, monthly cash flow is $261 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $122k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 5.4% in Bloomington — 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 77/100 on livability (#161 in IL, #2,987 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, amenities C-, commute F.
• Bloomington SD 87 (urban): math 14% / reading 19% proficiency, ranked #476 of 620 in IL (top 77%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+5.6%/yr); 92 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 247 units permitted in McLean County in 2024 (54 in 5+ unit buildings).
• This rent runs 32% of the median local income ($57k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $898 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 5.6% rent growth), your $36k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $60k; list at $130k implies a 116% gain — meaningful room to come down on a strong offer.

Recommended offer $122,106 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.19% ✓
• Cap rate: 8.70%
• Cash-on-cash: 8.60%
• DSCR: 1.38
• GRM: 7.0

CMA / ARV

• ARV (median comp): $180,412
• List price: $129,900
• Delta: -28.00%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.6% rent growth · sell at horizon

5-year hold

• IRR: -0.2%
• Equity multiple: 0.99×
• Total profit: $-239
• Equity at exit: $19,369

10-year hold

• IRR: 12.2%
• Equity multiple: 2.08×
• Total profit: $39,388
• Equity at exit: $11,231

Cash invested: $36,372 (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 61701

• Rents YoY: 5.6%
• Active inventory: 92
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,547 high
• Mortgage (P&I): −$681
• Tax from tax record: −$226 /mo · $2,717/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$325
• Net cashflow: $261

Break-even live

Break-even rent $1,217

Max offer price $129,900

Occupancy floor 78%

Sensitivity live

Price	-10% $334	-5% $297	+0% $261	+5% $224	+10% $187
Rent	-10% $138	-5% $199	+0% $261	+5% $322	+10% $383
Rate	-1.0pp $326	-0.5pp $294	base $261	+0.5pp $227	+1.0pp $193

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
703 W Olive St Bloomington, IL	3.0	1.0	1000	$1,495	$1.50	22d	1	0.14mi
915 N Madison St Unit 4 Bloomington, IL	2.0	1.0	900	$899	$1.00	22d	1	0.86mi
1002 N Center St Bloomington, IL	4.0	2.0	—	$2,000	—	44d	1	0.91mi
610 N Mclean St Apt 1 Bloomington, IL	2.0	1.0	—	$1,250	—	22d	1	0.91mi
1102 N Madison St Bloomington, IL	3.0	2.0	1603	$1,950	$1.22	22d	1	0.92mi
318 E Locust St Apt A Bloomington, IL	3.0	2.0	1200	$3,000	$2.50	44d	1	0.94mi
507 1/2 S Clayton St Bloomington, IL	3.0	1.0	1003	$1,895	$1.89	22d	1	0.97mi
503 E Empire St Bloomington, IL	3.0	2.0	1000	$1,795	$1.79	44d	1	1.13mi
507 E Graham St Bloomington, IL	3.0	1.5	1300	$1,900	$1.46	44d	1	1.18mi
404 S Mc Clun St Bloomington, IL	2.0	1.0	745	$1,200	$1.61	44d	1	1.28mi
1619 R T Dunn Dr Bloomington, IL	3.0	2.0	1200	$1,300	$1.08	22d	1	1.33mi
1901 Tracy Dr Unit 5W Bloomington, IL	2.0	1.5	—	$950	—	22d	1	1.35mi
1901 Tracy Dr Unit 3N Bloomington, IL	2.0	1.0	—	$900	—	22d	1	1.35mi
501 E Emerson St Bloomington, IL	3.0	1.5	2825	$2,500	$0.88	44d	1	1.44mi
102 Donnie Dr Unit 1906Tra-202 Bloomington, IL	2.0	1.0	1500	$1,169	$0.78	22d	1	1.45mi
16 Kris Dr Unit K16 Bloomington, IL	2.0	1.0	832	$856	$1.03	22d	1	1.47mi

Listing history 20 events

1. 2026-06-21
   days on market $129,900 Active 62 DOM
2. 2026-06-19
   days on market $129,900 Active 60 DOM
3. 2026-06-18
   days on market $129,900 Active 59 DOM
4. 2026-06-17
   days on market $129,900 Active 58 DOM
5. 2026-06-16
   days on market $129,900 Active 57 DOM
6. 2026-06-15
   days on market $129,900 Active 56 DOM
7. 2026-06-14
   days on market $129,900 Active 54 DOM
8. 2026-06-13
   days on market $129,900 Active 53 DOM
9. 2026-06-10
   days on market $129,900 Active 51 DOM
10. 2026-06-09
    days on market $129,900 Active 50 DOM
11. 2026-06-08
    days on market $129,900 Active 49 DOM
12. 2026-06-07
    days on market $129,900 Active 48 DOM
13. 2026-06-03
    days on market $129,900 Active 44 DOM
14. 2026-06-02
    days on market $129,900 Active 43 DOM
15. 2026-06-01
    days on market $129,900 Active 42 DOM
16. 2026-05-31
    days on market $129,900 Active 41 DOM
17. 2026-05-30
    days on market $129,900 Active 40 DOM
18. 2026-04-20
    listed $129,900 Active 294-char remark

    Show marketing remark (294 chars)

    Main floor is nice, 2nd floor is unfinished, needs work to be habitable. Main floor unit has been rented for $1,100p/month,, currently vacant upper unit may get $800-900 if finished, 2 car detached garage off side alley, fenced back yard. Tons of potential for the buy with construction skills.

19. 2007-06-21
    soldstatus $60,000
20. 1992-11-01
    soldstatus $42,000

ⓘ 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: $2,717 · $226/mo
• Projected year-2 tax: $2,833 · $236/mo
• Expected delta: +$116/yr (+$10/mo · 4.3%)

ⓘ 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 · 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,566
• − Mortgage interest: −$7,276
• − Property taxes: −$2,717
• − Insurance: −$650
• − Repairs & maintenance: −$1,485
• − Management: −$1,485
• − Depreciation: −$3,779
• Taxable income: $1,174
• Est. tax owed @ 24.0%: −$282
• After-tax cash flow: $2,845/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: Bloomington SD 87
• NCES district ID: 1706480
• Math proficiency: 14% ▼ -7.00%
• Reading proficiency: 19% ▼ -7.00%
• Median HH income: $50,544
• Composite: 15.05/100
• National rank: #9351
• State rank: #476 of 620 in IL

Livability — Bloomington

• Score: 77/100
• State rank: #161
• US rank: #2987

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bloomington, IL
• County: McLean County · 126,490 people
• City population: 72,415
• Metro: Bloomington, IL
• Population (ZIP): 35,136
• Household income: $57,130
• Rent vs Own: 43.3% rent · 56.7% own
• Severe rent burden: 1493.0

Population outlook (McLean County) Hauer SSP2

• Today (2025): 176,468 people
• By 2030: 178,002 · +0.9%
• By 2040: 178,592 · +1.2%
• By 2050: 177,090 · +0.4%
• By 2075: 173,224 · -1.8%
• By 2100: 158,425 · -10.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Black 13% Two or more races 9% Hispanic / Latino 9% Asian 3%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Romanian 3% Slovak 2% Italian 1%
• Foreign-born: 6% · Canada, Philippines, Vietnam
• Languages at home: 91% English-only · Spanish 5% Other Asian/Pacific 1% Other Indo-European 1%

Political lean MEDSL · McLean

• 2024 margin: Toss-up / Even · D 51.6% · R 46.8% · Other 1.6%
• 2008→2024 swing: +3.7pp toward D · 2008: 1.2pp · 2024: 4.9pp
• All cycles: 2024: D+4.9 2020: D+3.9 2016: R+1.5 2012: R+11.1 2008: D+1.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -115.13%
• Current HPI: 172.3659
• Rent YoY: ▲ 5.60%
• Metro: Bloomington, IL
• 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

+209.3% since first listed

3 events — show timeline

• 2026-04-20 Listed $129,900 MRED as Distributed by MLS Grid
• 2007-06-21 Sold (Public Records) $60,000 Public Records
• 1992-11-01 Sold (Public Records) $42,000 Public Records

Property tax history

+3.0%/yr

Latest (2023): $2,717 · +11.0% YoY. Source: county tax records.