705 W Main · Warren, IL 61087

$98,000

3 bd · 1.5 ba · 1,472 sqft · Other · 51 Days on market

Built 1800 8,712 sqft lot $67/sqft · 26% below area Est $132k · 26% 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 +25.1/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +8.2/10.0
• 1% rule +6.8/10.0
• Schools +3.9/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Solid two story with main floor laundry. Large eat in kitchen. Natural woodwork. Alley access to garage and off-street parking. Presently home is a rental with a long-time tenant. Home offers great opportunity or an investor as rental or would make a great affordable starter.

Key facts

• Natural woodwork
• Alley access
• Large eat in kitchen

Tags

• MAIN FLOOR LAUNDRY
• LARGE EAT IN KITCHEN
• NATURAL WOODWORK
• ALLEY ACCESS
• OFF STREET PARKING
• RENTAL OPPORTUNITY

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Residential single-family house; 2 stories
• Exterior features: Shingle roof; 0.2-acre lot

Interior

• Kitchen: Electric cooktop; Refrigerator
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Electric cooktop; Refrigerator; Gas water heater; Full basement

🏷️ Possibly a rental listed for sale. The $98,000 price doesn't fit this home's estimated sale value (~$132,385) 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/1.5-bath other listed at $98k.

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 $98k).
• Recommended offer: $95k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 73/100 on livability (#290 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Warren CUSD 205 (rural): math 40% / reading 45% proficiency, ranked #273 of 919 in IL (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Warren Elementary School (math 42% / reading 47%, grade F, #267 of 2,056 statewide, top 15%, 194 students, 0% FRL); Warren Jr/Sr High School (math 22% / reading 42%, grade F, #157 of 693 statewide, top 25%, 203 students, 0% FRL) — zoned schools average 0% FRL vs 28% district-wide (28 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 5 active listings in the ZIP; 58 units permitted in Jo Daviess County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($678 loan paydown + $10k appreciation (10.0% local appreciation)).
• Jo Daviess County population projected at -25% 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 $27k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($95k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $35k; list at $98k implies a 180% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1800 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $95,060 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 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 1800 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.18% ✓
• Cap rate: 8.93%
• Cash-on-cash: 9.42%
• DSCR: 1.42
• GRM: 7.0

CMA / ARV

• ARV (median comp): $132,385
• List price: $98,000
• Delta: -25.97%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 31.2%
• Equity multiple: 3.45×
• Total profit: $67,129
• Equity at exit: $88,286

10-year hold

• IRR: 27.0%
• Equity multiple: 7.81×
• Total profit: $186,957
• Equity at exit: $190,392

Cash invested: $27,440 (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 61087

• Home prices YoY: 9.6%
• Active inventory: 5
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,161 medium
• Mortgage (P&I): −$514
• Tax from tax record: −$147 /mo · $1,760/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$244
• Net cashflow: $215

Break-even live

Break-even rent $888

Max offer price $98,000

Occupancy floor 76%

Sensitivity live

Price	-10% $271	-5% $243	+0% $215	+5% $188	+10% $160
Rent	-10% $124	-5% $170	+0% $215	+5% $261	+10% $307
Rate	-1.0pp $265	-0.5pp $240	base $215	+0.5pp $190	+1.0pp $164

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: $24,500
• Closing costs: $2,940
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $98,000 Active 51 DOM
2. 2026-06-21
   days on market $98,000 Active 50 DOM
3. 2026-06-18
   days on market $98,000 Active 48 DOM
4. 2026-06-17
   days on market $98,000 Active 47 DOM
5. 2026-06-16
   days on market $98,000 Active 46 DOM
6. 2026-06-15
   days on market $98,000 Active 45 DOM
7. 2026-06-13
   days on market $98,000 Active 43 DOM
8. 2026-06-12
   days on market $98,000 Active 42 DOM
9. 2026-06-09
   days on market $98,000 Active 39 DOM
10. 2026-06-08
    days on market $98,000 Active 38 DOM
11. 2026-06-07
    days on market $98,000 Active 37 DOM
12. 2026-06-05
    days on market $98,000 Active 35 DOM
13. 2026-06-04
    days on market $98,000 Active 33 DOM
14. 2026-06-02
    days on market $98,000 Active 32 DOM
15. 2026-06-01
    days on market $98,000 Active 31 DOM
16. 2026-05-31
    days on market $98,000 Active 30 DOM
17. 2026-05-31
    days on market $98,000 Active 29 DOM
18. 2026-05-01
    listed $98,000 Active 276-char remark
19. 2013-08-26
    soldstatus $35,000

ⓘ 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: $1,760 · $147/mo
• Projected year-2 tax: $1,992 · $166/mo
• Expected delta: +$233/yr (+$19/mo · 13.2%)

ⓘ 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 2/10 Low 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,927
• − Mortgage interest: −$5,490
• − Property taxes: −$1,760
• − Insurance: −$490
• − Repairs & maintenance: −$1,114
• − Management: −$1,114
• − Depreciation: −$2,851
• Taxable income: $1,109
• Est. tax owed @ 24.0%: −$266
• After-tax cash flow: $2,320/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: Warren CUSD 205
• NCES district ID: 1740740
• Math proficiency: 40% ▬ 0.00%
• Reading proficiency: 45% ▲ 10.00%
• Median HH income: $48,322
• Composite: 38.72/100
• National rank: #8384
• State rank: #273 of 919 in IL

Livability — Warren

• Score: 73/100
• State rank: #290
• US rank: #5562

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Warren, IL
• Population (ZIP): 1,648

Population outlook (Jo Daviess County) Hauer SSP2

• Today (2025): 20,420 people
• By 2030: 19,405 · -5.0%
• By 2040: 17,244 · -15.6%
• By 2050: 15,357 · -24.8%
• By 2075: 11,760 · -42.4%
• By 2100: 8,355 · -59.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 5% Two or more races 4%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 5% Romanian 2% Iranian 2%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Jo Daviess

• 2024 margin: R (+16.8) · D 40.8% · R 57.6% · Other 1.6%
• 2008→2024 swing: -27.3pp toward R · 2008: 10.5pp · 2024: -16.8pp
• All cycles: 2024: R+16.8 2020: R+16.5 2016: R+14.9 2012: D+1.1 2008: D+10.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 14.20%
• Current HPI: 161.8
• 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

+180.0% since first listed

2 events — show timeline

• 2026-05-01 Listed $98,000 NWIAR
• 2013-08-26 Sold (Public Records) $35,000 Public Records

Property tax history

+1.2%/yr

Latest (2025): $1,760 · +14.6% YoY. Source: county tax records.