908 Locust St · Carrollton, IL 62016

$45,500

2 bd · 1.0 ba · 880 sqft · Other · 55 Days on market

Built 1929 10,798 sqft lot $52/sqft · 61% below area ↓ 31% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +6.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Listing remarks MLS

Charming 2 bedroom, 1 bath home with a bonus room that could be converted to another bedroom, home office, or hobby space. The home offers a full unfinished basement with plenty of storage, along with a detached two car garage featuring concrete floor and heater- perfect for a workshop or keeping vehicles warm in the winter. Step outside to enjoy the fenced backyard, ideal for pets, a garden or relaxing. With solid features and great potential, this home is ready for someone to bring their own touches and updates. Selling As-Is

Key facts

• Bonus room
• Fenced backyard
• 0.25 acre lot

Tags

• BONUS ROOM
• FULL UNFINISHED BASEMENT
• DETACHED TWO CAR GARAGE
• FENCED BACKYARD

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $46k.

Deal economics

• At list price, monthly cash flow is $274 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($800 rent vs $46k).
• Recommended offer: $44k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#677 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D, amenities F, commute F.
• Carrollton CUSD 1 (rural): math 29% / reading 25% proficiency, ranked #288 of 620 in IL (top 46%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 18 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1 units permitted in Greene County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($315 loan paydown + $1k appreciation (3.1% local appreciation)).
• Greene County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.1% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $16k (26%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1929 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $44,135 (3.0% below list)

Questions for the listing agent

1. It's been on market 55 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1929 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.76% ✓
• Cap rate: 13.52%
• Cash-on-cash: 25.82%
• DSCR: 2.15
• GRM: 4.7

CMA / ARV

• ARV (median comp): $117,458
• List price: $45,500
• Delta: -61.26%
• Verdict: UNDERPRICED
• Comps: 17 within 1.0 mi

Projected returns pro-forma

3.09% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 32.1%
• Equity multiple: 2.82×
• Total profit: $23,192
• Equity at exit: $20,689

10-year hold

• IRR: 32.3%
• Equity multiple: 5.54×
• Total profit: $57,891
• Equity at exit: $32,063

Cash invested: $12,740 (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 62016

• Home prices YoY: 2.0%
• Active inventory: 18
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $800 medium
• Mortgage (P&I): −$239
• Tax from tax record: −$100 /mo · $1,204/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$168
• Net cashflow: $274

Break-even live

Break-even rent $453

Max offer price $45,500

Occupancy floor 61%

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: $11,375
• Closing costs: $1,365
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1008 Locust St Carrollton, IL	1.0	1.0	600	$800	$1.33	43d	1	0.10mi

Listing history 12 events

1. 2026-05-17
   status Pending 533-char remark

   Show marketing remark (533 chars)

   Charming 2 bedroom, 1 bath home with a bonus room that could be converted to another bedroom, home office, or hobby space. The home offers a full unfinished basement with plenty of storage, along with a detached two car garage featuring concrete floor and heater- perfect for a workshop or keeping vehicles warm in the winter. Step outside to enjoy the fenced backyard, ideal for pets, a garden or relaxing. With solid features and great potential, this home is ready for someone to bring their own touches and updates. Selling As-Is

2. 2026-05-11
   price $45,500 533-char remark

   Show marketing remark (533 chars)

   Charming 2 bedroom, 1 bath home with a bonus room that could be converted to another bedroom, home office, or hobby space. The home offers a full unfinished basement with plenty of storage, along with a detached two car garage featuring concrete floor and heater- perfect for a workshop or keeping vehicles warm in the winter. Step outside to enjoy the fenced backyard, ideal for pets, a garden or relaxing. With solid features and great potential, this home is ready for someone to bring their own touches and updates. Selling As-Is

3. 2026-05-08
   status Active 533-char remark

   Show marketing remark (533 chars)

   Charming 2 bedroom, 1 bath home with a bonus room that could be converted to another bedroom, home office, or hobby space. The home offers a full unfinished basement with plenty of storage, along with a detached two car garage featuring concrete floor and heater- perfect for a workshop or keeping vehicles warm in the winter. Step outside to enjoy the fenced backyard, ideal for pets, a garden or relaxing. With solid features and great potential, this home is ready for someone to bring their own touches and updates. Selling As-Is

4. 2026-04-26
   status Pending 533-char remark

   Show marketing remark (533 chars)

   Charming 2 bedroom, 1 bath home with a bonus room that could be converted to another bedroom, home office, or hobby space. The home offers a full unfinished basement with plenty of storage, along with a detached two car garage featuring concrete floor and heater- perfect for a workshop or keeping vehicles warm in the winter. Step outside to enjoy the fenced backyard, ideal for pets, a garden or relaxing. With solid features and great potential, this home is ready for someone to bring their own touches and updates. Selling As-Is

5. 2026-04-16
   price $55,500 533-char remark

   Show marketing remark (533 chars)

   Charming 2 bedroom, 1 bath home with a bonus room that could be converted to another bedroom, home office, or hobby space. The home offers a full unfinished basement with plenty of storage, along with a detached two car garage featuring concrete floor and heater- perfect for a workshop or keeping vehicles warm in the winter. Step outside to enjoy the fenced backyard, ideal for pets, a garden or relaxing. With solid features and great potential, this home is ready for someone to bring their own touches and updates. Selling As-Is

6. 2026-03-30
   price $57,500 533-char remark

   Show marketing remark (533 chars)

   Charming 2 bedroom, 1 bath home with a bonus room that could be converted to another bedroom, home office, or hobby space. The home offers a full unfinished basement with plenty of storage, along with a detached two car garage featuring concrete floor and heater- perfect for a workshop or keeping vehicles warm in the winter. Step outside to enjoy the fenced backyard, ideal for pets, a garden or relaxing. With solid features and great potential, this home is ready for someone to bring their own touches and updates. Selling As-Is

7. 2026-03-18
   price $59,500 533-char remark

   Show marketing remark (533 chars)

   Charming 2 bedroom, 1 bath home with a bonus room that could be converted to another bedroom, home office, or hobby space. The home offers a full unfinished basement with plenty of storage, along with a detached two car garage featuring concrete floor and heater- perfect for a workshop or keeping vehicles warm in the winter. Step outside to enjoy the fenced backyard, ideal for pets, a garden or relaxing. With solid features and great potential, this home is ready for someone to bring their own touches and updates. Selling As-Is

8. 2026-03-11
   listed $61,500 Active 533-char remark

   Show marketing remark (533 chars)

   Charming 2 bedroom, 1 bath home with a bonus room that could be converted to another bedroom, home office, or hobby space. The home offers a full unfinished basement with plenty of storage, along with a detached two car garage featuring concrete floor and heater- perfect for a workshop or keeping vehicles warm in the winter. Step outside to enjoy the fenced backyard, ideal for pets, a garden or relaxing. With solid features and great potential, this home is ready for someone to bring their own touches and updates. Selling As-Is

9. 2023-03-13
   soldstatus Closed 234-char remark

   Show marketing remark (234 chars)

   2 bedroom 1 bath home on large lot with nice size rooms and a 2 car oversized heated garage! This home would be great for someone downsizing or looking for rental properties. There is so much potential here. Seller is selling AS IS.

10. 2023-02-15
    status Pending 234-char remark

    Show marketing remark (234 chars)

    2 bedroom 1 bath home on large lot with nice size rooms and a 2 car oversized heated garage! This home would be great for someone downsizing or looking for rental properties. There is so much potential here. Seller is selling AS IS.

11. 2023-01-23
    price $59,900 234-char remark

    Show marketing remark (234 chars)

    2 bedroom 1 bath home on large lot with nice size rooms and a 2 car oversized heated garage! This home would be great for someone downsizing or looking for rental properties. There is so much potential here. Seller is selling AS IS.

12. 2022-12-01
    listed $65,900 Active 234-char remark

    Show marketing remark (234 chars)

    2 bedroom 1 bath home on large lot with nice size rooms and a 2 car oversized heated garage! This home would be great for someone downsizing or looking for rental properties. There is so much potential here. Seller is selling AS IS.

ⓘ 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: $1,204 · $100/mo
• Projected year-2 tax: $1,204 · $100/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 4/10 Moderate 7 d/yr ≥106°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,600
• − Mortgage interest: −$2,549
• − Property taxes: −$1,204
• − Insurance: −$228
• − Repairs & maintenance: −$768
• − Management: −$768
• − Depreciation: −$1,324
• Taxable income: $2,760
• Est. tax owed @ 24.0%: −$662
• After-tax cash flow: $2,627/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: Carrollton CUSD 1
• NCES district ID: 1708610
• Math proficiency: 29% ▲ 5.00%
• Reading proficiency: 25% ▬ 0.00%
• Median HH income: $47,358
• Composite: 23.49/100
• National rank: #7872
• State rank: #288 of 620 in IL

Livability — Carrollton

• Score: 64/100
• State rank: #677
• US rank: #13841

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Carrollton, IL
• City population: 3,650
• Population (ZIP): 3,650

Population outlook (Greene County) Hauer SSP2

• Today (2025): 12,137 people
• By 2030: 11,467 · -5.5%
• By 2040: 10,117 · -16.6%
• By 2050: 8,804 · -27.5%
• By 2075: 6,187 · -49.0%
• By 2100: 4,175 · -65.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Lithuanian 2% Italian 1% Iranian 1%
• Foreign-born: 0%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Greene

• 2024 margin: Solid R (+57.8) · D 20.1% · R 78.0% · Other 1.9%
• 2008→2024 swing: -50.3pp toward R · 2008: -7.5pp · 2024: -57.8pp
• All cycles: 2024: R+57.8 2020: R+54.9 2016: R+53.0 2012: R+25.4 2008: R+7.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.09%
• Current HPI: 158.4231
• 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

-31.0% since first listed

12 events — show timeline

• 2026-05-17 Pending — MARIS as Distributed by MLS Grid
• 2026-05-11 Price Changed $45,500 MARIS as Distributed by MLS Grid
• 2026-05-08 Relisted — MARIS as Distributed by MLS Grid
• 2026-04-26 Pending — MARIS as Distributed by MLS Grid
• 2026-04-16 Price Changed $55,500 MARIS as Distributed by MLS Grid
• 2026-03-30 Price Changed $57,500 MARIS as Distributed by MLS Grid
• 2026-03-18 Price Changed $59,500 MARIS as Distributed by MLS Grid
• 2026-03-11 Listed $61,500 MARIS as Distributed by MLS Grid
• 2023-03-13 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2023-02-15 Pending — MARIS as Distributed by MLS Grid
• 2023-01-23 Price Changed $59,900 MARIS as Distributed by MLS Grid
• 2022-12-01 Listed $65,900 MARIS as Distributed by MLS Grid

Property tax history

+1.1%/yr

Latest (2024): $1,204 · +2.8% YoY. Source: county tax records.