405 S Charles St · Shelbyville, IL 62565

$89,900

3 bd · 1.0 ba · 1,198 sqft · SingleFamily public records · 22 Days on market

Built 1930 7,920 sqft lot Est $123k · 27% 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 +26.1/30.0
• ARV discount +15.0/15.0
• DSCR +8.8/10.0
• 1% rule +6.2/10.0
• Livability +3.5/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming 3-bedroom, 1-bath home situated on a spacious corner lot! This property features a very large living room with plenty of space for both comfortable seating and a formal dining area, making it perfect for entertaining or family gatherings. The large kitchen offers ample room for cooking and storage, while the separate laundry room provides even more convenient storage space. Enjoy outdoor living with both front and side decks, ideal for relaxing or hosting guests. A covered carport offers protection for your vehicle and additional space for outdoor equipment or storage. Conveniently located on a nice corner lot with great curb appeal, this home combines comfort, functionality, and v

Key facts

• Covered carport
• Large living room
• Front and side decks

Tags

• CORNER LOT
• LARGE LIVING ROOM
• SEPARATE LAUNDRY ROOM
• FRONT AND SIDE DECKS
• COVERED CARPORT

Property features AI

Finance

• Other: Zoned residential

Exterior

• Parking: Carport (1 space)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story
• Construction: Vinyl siding; Shingle roof
• Exterior features: Deck; Front porch; Gravel road frontage

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 6 total rooms (includes bedrooms and living areas)
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating with forced air; Central air conditioning; Whole house fan
• Interior features: Gas water heater; Crawl space basement
• Laundry & utility: Washer and dryer connections on main level; Dryer included

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $227 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $89k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.3% vs local median 5.0% in Shelbyville — 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 70/100 on livability (#355 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Shelbyville CUSD 4 (town): math 25% / reading 41% proficiency, ranked #225 of 620 in IL (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 53 active listings in the ZIP; 41 units permitted in Shelby County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Shelby County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($89k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $88,551 (1.5% below list)

Questions for the listing agent

1. Built in 1930 — 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. 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.
4. 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.
5. 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: 1.12% ✓
• Cap rate: 9.32%
• Cash-on-cash: 10.80%
• DSCR: 1.48
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $123,394
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
915 W South 3rd St	0.13mi	3/1.0	1,200 (+0%)	7mo	$122,500	$102	88
308 S Chestnut St	0.31mi	3/1.0	1,208 (+1%)	4mo	$8,000	$7	81
419 W South 2nd St	0.22mi	3/1.0	1,264 (+6%)	3mo	$41,000	$32	78
705 W South 1st St	0.16mi	2/1.5 (-1)	1,050 (-12%)	2mo	$75,000	$71	63
212 S Virginia St	0.62mi	2/2.0 (-1)	1,192 (-0%)	8mo	$110,000	$92	54
505 W North 4th St	0.54mi	3/1.5	1,316 (+10%)	4mo	$136,500	$104	54
706 South 10th St	0.31mi	3/2.0	1,018 (-15%)	7mo	$90,000	$88	51
1000 North 1st St	0.32mi	2/1.0 (-1)	1,038 (-13%)	9mo	$110,000	$106	51
1215 W South 11th St	0.47mi	2/1.5 (-1)	1,075 (-10%)	7mo	$129,000	$120	48
241 N Fern St	0.71mi	3/1.5	1,344 (+12%)	2mo	$200,000	$149	42
1502 W North 4th St	0.64mi	3/2.0	1,023 (-15%)	2mo	$230,000	$225	40
709 W North 6th St	0.65mi	2/1.0 (-1)	1,064 (-11%)	9mo	$110,000	$103	39

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: -0.2%
• Equity multiple: 0.99×
• Total profit: $-152
• Equity at exit: $13,404

10-year hold

• IRR: 9.5%
• Equity multiple: 1.73×
• Total profit: $18,385
• Equity at exit: $7,773

Cash invested: $25,172 (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 62565

• Home prices YoY: -11.6%
• Active inventory: 53
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,009 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$62 /mo · $742/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$212
• Net cashflow: $227

Break-even live

Break-even rent $722

Max offer price $89,900

Occupancy floor 73%

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-09
   statusdays on market $89,900 Pending 22 DOM
2. 2026-06-08
   days on market $89,900 Active Under Contract 21 DOM
3. 2026-06-07
   days on market $89,900 Active Under Contract 20 DOM
4. 2026-06-04
   days on market $89,900 Active Under Contract 16 DOM
5. 2026-06-02
   days on market $89,900 Active Under Contract 15 DOM
6. 2026-06-01
   days on market $89,900 Active Under Contract 14 DOM
7. 2026-05-31
   days on market $89,900 Active Under Contract 13 DOM
8. 2026-05-31
   days on market $89,900 Active Under Contract 12 DOM
9. 2026-05-20
   historical Active Under Contract
10. 2026-05-18
    listed $89,900 Active

ⓘ 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: $742 · $62/mo
• Projected year-2 tax: $1,391 · $116/mo
• Expected delta: +$649/yr (+$54/mo · 87.6%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major 70% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥105°F today · 20 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,111
• − Mortgage interest: −$5,036
• − Property taxes: −$742
• − Insurance: −$450
• − Repairs & maintenance: −$969
• − Management: −$969
• − Depreciation: −$2,615
• Taxable income: $1,331
• Est. tax owed @ 24.0%: −$319
• After-tax cash flow: $2,400/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: Shelbyville CUSD 4
• NCES district ID: 1736090
• Math proficiency: 25% ▼ -10.00%
• Reading proficiency: 41% ▼ -12.00%
• Median HH income: $44,461
• Composite: 28.1/100
• National rank: #6827
• State rank: #225 of 620 in IL

Livability — Shelbyville

• Score: 70/100
• State rank: #355
• US rank: #7321

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Shelbyville, IL
• City population: 7,422
• Population (ZIP): 7,422

Population outlook (Shelby County) Hauer SSP2

• Today (2025): 20,512 people
• By 2030: 19,675 · -4.1%
• By 2040: 17,851 · -13.0%
• By 2050: 15,973 · -22.1%
• By 2075: 11,799 · -42.5%
• By 2100: 8,030 · -60.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 2%
• Common ancestry: Lithuanian 4% Romanian 3% Slovak 2%
• Foreign-born: 2% · Canada, South Korea
• Languages at home: 97% English-only · Russian/Polish/Slavic 2% Spanish 1%

Political lean MEDSL · Shelby

• 2024 margin: Solid R (+60.2) · D 19.2% · R 79.5% · Other 1.4%
• 2008→2024 swing: -40.5pp toward R · 2008: -19.8pp · 2024: -60.2pp
• All cycles: 2024: R+60.2 2020: R+57.2 2016: R+54.3 2012: R+33.7 2008: R+19.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -23.35%
• Current HPI: 178.3002
• 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

2 events — show timeline

• 2026-05-20 Contingent — CIBR
• 2026-05-18 Listed $89,900 CIBR

Property tax history

+18.8%/yr

Latest (2024): $742 · +675.6% YoY. Source: county tax records.