105 Wabash Ave · Catlin, IL 61817

$105,000

2 bd · 1.0 ba · 1,100 sqft · SingleFamily · 21 Days on market

Built 1920 9,583 sqft lot Est $138k · 24% under

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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 +15.4/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Schools +5.0/10.0
• DSCR +4.7/10.0
• 1% rule +4.2/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Take a look at this 2 bedroom, 1 bath home in Catlin! This home sits on a double lot, within walking distance to the park. The interior offers a spacious living and dinning area and, an open kitchen layout. The yard is perfect for gardening and/or entertaining. Available for showings today. Give me a call!

Key facts

• 9,583 sq ft lot
• Garage
• Built 1920

Property features AI

Exterior

• Parking: Detached garage (1 car)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story
• Construction: Built with other construction materials
• Exterior features: Shingle roof; Gravel road access; Lot approximately 0.22 acres; Residential zoning

Interior

• Kitchen: Range; Dishwasher; Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating with forced air; Central air conditioning
• Interior features: Dryer; Dishwasher; Gas water heater; Range; Refrigerator; Washer; Crawl space basement
• Laundry & utility: Laundry on main level; Dryer; Washer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $40 ($478/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $97k (8.0% below list).
• Recommended offer: $97k (8.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 67/100 on livability (#522 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.
• Market conditions: 14 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 8 units permitted in Vermilion County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($726 loan paydown + $10k appreciation (10.0% local appreciation)).
• Vermilion County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$40k 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 ($103k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y 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 $58k; list at $105k implies a 79% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $96,619 (8.0% below list)

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 0.92% ✗
• Cap rate: 6.75%
• Cash-on-cash: 1.62%
• DSCR: 1.07
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $137,500
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
404 Merrill St	0.31mi	3/1.0 (+1)	1,057 (-4%)	5mo	$132,000	$125	70
700 S Sandusky St	0.29mi	3/1.5 (+1)	1,040 (-6%)	20mo	$115,000	$111	54
102 State St	0.27mi	3/1.0 (+1)	950 (-14%)	7mo	$121,800	$128	54
103 W Center St	0.61mi	2/1.0	1,062 (-4%)	22mo	$94,700	$89	48
424 Merrill St	0.39mi	3/2.0 (+1)	1,215 (+10%)	13mo	$135,000	$111	45
102 Huntington Park Dr	0.44mi	3/2.0 (+1)	1,253 (+14%)	4mo	$144,900	$116	44
504 Walnut St	0.54mi	3/1.0 (+1)	1,010 (-8%)	20mo	$138,500	$137	40
107 Burris St	0.70mi	3/1.0 (+1)	1,000 (-9%)	21mo	$155,000	$155	30

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.5%
• Equity multiple: 3.03×
• Total profit: $59,733
• Equity at exit: $94,592

10-year hold

• IRR: 22.4%
• Equity multiple: 6.92×
• Total profit: $173,938
• Equity at exit: $203,992

Cash invested: $29,400 (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 61817

• Home prices YoY: 10.2%
• Active inventory: 14
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $966 medium
• Mortgage (P&I): −$551
• Tax from tax record: −$129 /mo · $1,549/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$203
• Net cashflow: $40

Break-even live

Break-even rent $916

Max offer price $105,000

Occupancy floor 91%

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
203 Wabash Ave Catlin, IL	3.0	1.0	1150	$950	$0.83	43d	1	0.09mi
207 Martin Ct Catlin, IL	2.0	1.5	850	$999	$1.18	2d	1	0.21mi
211 Martin Ct Apt A Catlin, IL	2.0	1.5	990	$975	$0.98	2d	1	0.23mi

Listing history 6 events

1. 2026-06-07
   statusdays on market $105,000 Pending 21 DOM
2. 2026-06-03
   days on market $105,000 Active Under Contract 18 DOM
3. 2026-06-02
   days on market $105,000 Active Under Contract 17 DOM
4. 2026-06-01
   days on market $105,000 Active Under Contract 16 DOM
5. 2026-05-31
   days on market $105,000 Active Under Contract 15 DOM
6. 2026-05-30
   days on market $105,000 Active Under Contract 14 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: $1,549 · $129/mo
• Projected year-2 tax: $1,966 · $164/mo
• Expected delta: +$417/yr (+$35/mo · 26.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $11,594
• − Mortgage interest: −$5,882
• − Property taxes: −$1,549
• − Insurance: −$525
• − Repairs & maintenance: −$928
• − Management: −$928
• − Depreciation: −$3,055
• Taxable loss: −$1,271
• Est. tax savings @ 24.0%: +$305
• After-tax cash flow: $783/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)

No district data.

Livability — Catlin

• Score: 67/100
• State rank: #522
• US rank: #10766

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Catlin, IL
• Population (ZIP): 2,447

Population outlook (Vermilion County) Hauer SSP2

• Today (2025): 72,775 people
• By 2030: 69,235 · -4.9%
• By 2040: 62,360 · -14.3%
• By 2050: 55,539 · -23.7%
• By 2075: 40,606 · -44.2%
• By 2100: 26,985 · -62.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 6% Two or more races 1% Black 1%
• Hispanic origin (detail): Mexican 4% Cuban 2%
• Common ancestry: Slovak 5% Iranian 2% Lithuanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 96% English-only · Spanish 4%

Political lean MEDSL · Vermilion

• 2024 margin: Solid R (+35.7) · D 31.4% · R 67.0% · Other 1.6%
• 2008→2024 swing: -36.2pp toward R · 2008: 0.6pp · 2024: -35.7pp
• All cycles: 2024: R+35.7 2020: R+32.9 2016: R+29.2 2012: R+15.7 2008: D+0.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 24.05%
• Current HPI: 260.408
• 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

+1300.0% since first listed

8 events — show timeline

• 2026-05-17 Contingent — CIBR
• 2026-05-16 Listed $105,000 CIBR
• 2022-02-24 Sold (Public Records) $58,500 Public Records
• 2022-02-22 Sold (MLS) $58,500 MRED as Distributed by MLS Grid
• 2022-02-22 Sold (MLS) $58,500 CIBR
• 2021-12-30 Listed $69,900 MRED as Distributed by MLS Grid
• 2021-12-30 Listed $69,900 CIBR
• 1971-04-16 Sold (Public Records) $7,500 Public Records

Property tax history

+25.6%/yr

Latest (2024): $1,549 · +28.4% YoY. Source: county tax records.