6985 S Verona Rd · Verona, IL 60479

$99,900

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

Built 1900 0.36 ac 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 +24.9/30.0
• DSCR +8.1/10.0
• 1% rule +7.7/10.0
• ARV discount +7.5/15.0
• Appreciation +4.3/10.0
• Schools +3.2/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

THIS HOME WAS A SCHOOL HOUSE W/ FLAG STONE FOUNDATION. THERE IS A 22 X 26 SHED/WORKSHOP.

Key facts

• Office space
• Eat in kitchen
• Attic storage

Tags

• MAIN FLOOR LAUNDRY
• EAT IN KITCHEN
• OFFICE SPACE
• ATTIC STORAGE
• WALK IN CLOSETS
• QUIET COUNTRY SETTING

Property features AI

Finance

• Other: Lot approximately 0.25–0.49 acre (dimensions 147 x 148); Parcel number 1002400003; Property not currently leased; Possession at closing
• HOA & community: No master association fees required

Exterior

• Parking: Detached garage (garage owned); Total 4 parking spaces; Dirt and gravel driveway; No attached garage
• Utilities: Well water; Septic tank sewer
• Home design: Detached single-family home; 1.5-story residence; Fee simple ownership; Property estimated age over 100 years; Asphalt roof; Aluminum siding
• Construction: Built before 1978
• Exterior features: Deck

Interior

• Kitchen: Kitchen with eating area (13 x 15)
• Bedrooms: Master bedroom on main level (10 x 16); Second-floor bedroom (10 x 23); Second-floor bedroom (10 x 20)
• Bathrooms: One full bathroom
• Heating & cooling: Space heater for heating; Window air conditioning units
• Interior features: Five total rooms; Foyer; Living room (23 x 19); Family room; Dining area open to kitchen
• Laundry & utility: Main-level laundry room (8 x 8)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $215 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).

Location & tenants

• Location reads 58/100 on livability (#1,115 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-; Watch: health & safety C-, crime D, amenities F.
• Seneca Twp Hsd 160 (rural): math 30% / reading 35% proficiency, ranked #416 of 919 in IL (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Seneca High School (math 32% / reading 32%, grade F, #157 of 693 statewide, top 25%, 385 students, 0% FRL).
• Market conditions: 1 active listings in the ZIP; 84 units permitted in Grundy County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-1.3%/yr); year-one equity from $691 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Grundy County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-1.3% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 20y 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 $78k; 27% 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 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $99,900

Questions for the listing agent

1. Built in 1900 — 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 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?
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: 1.27% ✓
• Cap rate: 8.87%
• Cash-on-cash: 9.22%
• DSCR: 1.41
• GRM: 6.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-1.34% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 3.9%
• Equity multiple: 1.17×
• Total profit: $4,699
• Equity at exit: $22,475

10-year hold

• IRR: 10.8%
• Equity multiple: 2.02×
• Total profit: $28,598
• Equity at exit: $22,230

Cash invested: $27,972 (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 60479

• Home prices YoY: -0.9%
• Active inventory: 1
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,264 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$218 /mo · $2,620/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$265
• Net cashflow: $215

Break-even live

Break-even rent $992

Max offer price $99,900

Occupancy floor 78%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-18
   days on market $99,900 Active 2 DOM
2. 2026-06-17
   remarks 699-char remark
3. 2026-06-17
   listed $99,900 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: $2,620 · $218/mo
• Projected year-2 tax: $2,620 · $218/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 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,170
• − Mortgage interest: −$5,596
• − Property taxes: −$2,620
• − Insurance: −$500
• − Repairs & maintenance: −$1,214
• − Management: −$1,214
• − Depreciation: −$2,906
• Taxable income: $1,122
• Est. tax owed @ 24.0%: −$269
• After-tax cash flow: $2,309/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: Seneca Twp Hsd 160
• NCES district ID: 1735850
• Math proficiency: 30% ▲ 10.00%
• Reading proficiency: 35% ▬ 0.00%
• Median HH income: $63,241
• Composite: 32.26/100
• National rank: #10928
• State rank: #416 of 919 in IL

Livability — Verona

• Score: 58/100
• State rank: #1115
• US rank: #21076

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 629

Population outlook (Grundy County) Hauer SSP2

• Today (2025): 50,716 people
• By 2030: 50,218 · -1.0%
• By 2040: 48,599 · -4.2%
• By 2050: 46,212 · -8.9%
• By 2075: 40,033 · -21.1%
• By 2100: 32,966 · -35.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 8% Two or more races 6%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Portuguese 8% Lithuanian 4% Romanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · Spanish 5%

Political lean MEDSL · Grundy

• 2024 margin: Strong R (+29.6) · D 34.5% · R 64.0% · Other 1.5%
• 2008→2024 swing: -31.3pp toward R · 2008: 1.7pp · 2024: -29.6pp
• All cycles: 2024: R+29.6 2020: R+25.8 2016: R+23.6 2012: R+9.0 2008: D+1.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -1.34%
• Current HPI: 141.2817
• 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

+17.5% since first listed

6 events — show timeline

• 2026-06-16 Listed $99,900 MRED as Distributed by MLS Grid
• 2026-06-16 Coming Soon $99,900 MRED as Distributed by MLS Grid
• 2007-03-08 Sold (MLS) $78,500 MRED as Distributed by MLS Grid
• 2007-03-08 Sold (Public Records) $78,500 Public Records
• 2007-02-08 Listing Removed — MRED as Distributed by MLS Grid
• 2006-08-12 Listed $85,000 MRED as Distributed by MLS Grid

Property tax history

+6.6%/yr

Latest (2024): $2,620 · +10.0% YoY. Source: county tax records.