124 E Mill St · Kewanee, IL 61443

$55,000

1 bd · 1.0 ba · 736 sqft · SingleFamily public records · 86 Days on market

Built 1955 $75/sqft · 22% below area Est $70k · 22% under ↓ 8% 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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.8/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Comfortable one-bedroom, one-bath ranch with an attached one-car garage, large yard, and versatile three-season room. The simple layout and amazing potential, provide a real opportunity for buyers looking to add value and make this home their own.

Key facts

• Three season room
• Large yard
• Garage

Tags

• ATTACHED ONE CAR GARAGE
• LARGE YARD
• THREE SEASON ROOM

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $301 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($815 rent vs $55k).
• Recommended offer: $52k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.9% vs local median 8.7% in Kewanee — 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 69/100 on livability (#409 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: schools F, crime D-, amenities F.
• Wethersfield CUSD 230 (town): math 16% / reading 30% proficiency, ranked #391 of 620 in IL (top 63%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 39 active listings in the ZIP; 32 units permitted in Henry County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $380 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Henry County population projected at -16% 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 $15k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 86 days — a 6% lower offer ($52k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $51,700 (6.0% below list)

Questions for the listing agent

1. It's been on market 86 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-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. 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?
7. 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.
8. 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.
9. 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: 1.48% ✓
• Cap rate: 12.86%
• Cash-on-cash: 23.45%
• DSCR: 2.04
• GRM: 5.6

CMA / ARV

• ARV (median comp): $70,128
• List price: $55,000
• Delta: -21.57%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
446 Dwight St	0.49mi	2/1.0 (+1)	714 (-3%)	1mo	$60,000	$84	66
811 Birch St	0.69mi	1/1.0	738 (+0%)	6mo	$40,000	$54	62
215 E Kellogg Ave	0.56mi	2/1.0 (+1)	752 (+2%)	6mo	$65,000	$86	60
215 E Kellogg Ave	0.56mi	2/1.0 (+1)	752 (+2%)	6mo	$65,000	$86	60
524 Willard St	0.53mi	2/1.0 (+1)	732 (-0%)	12mo	$98,000	$134	59
341 Willard St	0.28mi	2/1.0 (+1)	832 (+13%)	9mo	$60,000	$72	53
341 Willard St	0.28mi	2/1.0 (+1)	832 (+13%)	9mo	$60,000	$72	53
542 Edwards St	0.68mi	2/1.0 (+1)	787 (+7%)	10mo	$102,000	$130	43
846 Pine St	0.66mi	2/1.0 (+1)	797 (+8%)	10mo	$22,000	$28	42
846 Pine St	0.66mi	2/1.0 (+1)	797 (+8%)	10mo	$22,000	$28	42
419 E Church St	0.45mi	2/1.0 (+1)	840 (+14%)	11mo	$78,500	$93	41
419 E Church St	0.45mi	2/1.0 (+1)	840 (+14%)	11mo	$78,500	$93	41

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

Projected returns pro-forma

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

5-year hold

• IRR: 16.5%
• Equity multiple: 1.67×
• Total profit: $10,244
• Equity at exit: $8,201

10-year hold

• IRR: 25.1%
• Equity multiple: 3.18×
• Total profit: $33,558
• Equity at exit: $4,755

Cash invested: $15,400 (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 61443

• Active inventory: 39
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $815 medium
• Mortgage (P&I): −$288
• Tax from tax record: −$32 /mo · $382/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$171
• Net cashflow: $301

Break-even live

Break-even rent $434

Max offer price $55,000

Occupancy floor 58%

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-07
   status $55,000 Pending 86 DOM
2. 2026-06-05
   days on market $55,000 Active 86 DOM
3. 2026-06-04
   days on market $55,000 Active 84 DOM
4. 2026-06-02
   days on market $55,000 Active 83 DOM
5. 2026-06-01
   days on market $55,000 Active 82 DOM
6. 2026-05-31
   days on market $55,000 Active 81 DOM
7. 2026-05-31
   days on market $55,000 Active 80 DOM
8. 2026-04-24
   price $55,000 247-char remark

   Show marketing remark (247 chars)

   Comfortable one-bedroom, one-bath ranch with an attached one-car garage, large yard, and versatile three-season room. The simple layout and amazing potential, provide a real opportunity for buyers looking to add value and make this home their own.

9. 2026-03-11
   listed $60,000 Active 247-char remark

   Show marketing remark (247 chars)

   Comfortable one-bedroom, one-bath ranch with an attached one-car garage, large yard, and versatile three-season room. The simple layout and amazing potential, provide a real opportunity for buyers looking to add value and make this home their own.

ⓘ 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: $382 · $32/mo
• Projected year-2 tax: $815 · $68/mo
• Expected delta: +$433/yr (+$36/mo · 113.5%)

ⓘ 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 ≥102°F today · 17 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: $9,784
• − Mortgage interest: −$3,081
• − Property taxes: −$382
• − Insurance: −$275
• − Repairs & maintenance: −$783
• − Management: −$783
• − Depreciation: −$1,600
• Taxable income: $2,881
• Est. tax owed @ 24.0%: −$691
• After-tax cash flow: $2,920/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: Wethersfield CUSD 230
• NCES district ID: 1742060
• Math proficiency: 16% ▼ -10.00%
• Reading proficiency: 30% ▼ -11.00%
• Median HH income: $38,899
• Composite: 19.29/100
• National rank: #8800
• State rank: #391 of 620 in IL

Livability — Kewanee

• Score: 69/100
• State rank: #409
• US rank: #8423

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kewanee, IL
• Population (ZIP): 13,529

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 (79%)
• Race & ethnicity: White 79% Hispanic / Latino 11% Black 6% Two or more races 5%
• Hispanic origin (detail): Mexican 9% Puerto Rican 1%
• Common ancestry: Romanian 4% English 3% Italian 3%
• Foreign-born: 3% · Canada
• Languages at home: 92% English-only · Spanish 7%

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: ▼ -68.32%
• Current HPI: 121.8672
• 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

-8.3% since first listed

2 events — show timeline

• 2026-04-24 Price Changed $55,000 MRED as Distributed by MLS Grid
• 2026-03-11 Listed $60,000 MRED as Distributed by MLS Grid

Property tax history

+5.8%/yr

Latest (2024): $382 · -2.8% YoY. Source: county tax records.