603 N Chestnut St · Shelbyville, IL 62565

$78,900

1 bd · 1.0 ba · 695 sqft · SingleFamily public records · 23 Days on market

Built 1950 5,227 sqft lot Est $74k · 6% over

---

Why this score? — see what drove the D+ 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 +21.0/30.0
• DSCR +6.7/10.0
• 1% rule +5.1/10.0
• ARV discount +4.8/15.0
• 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 MLS

Cute and move in ready! All new interior paint, new carpet, and updated bathroom! The living room is open to the dining and kitchen making for great entertaining space. The two bedrooms have good closet space and the bathroom is conveniently located between them. The laundry room has storage space as well as access to the cellar. There is a sliding door off the kitchen that gives access to the large deck and back yard. The HVAC was new in 2022. Come take a look and move right in!

Key facts

• 5,227 sq ft lot
• Built 1950
• Listed 23 days

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; One-story
• Construction: Shingle siding exterior; Shingle roof
• Exterior features: Deck; Front porch; Gravel road access

Interior

• Kitchen: Range; Refrigerator; Gas water heater
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas heating with forced air; Central air conditioning
• Interior features: Full unfinished basement; Five total rooms
• Laundry & utility: Washer and Dryer (laundry on main level)

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $79k.

Deal economics

• At list price, monthly cash flow is $112 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($798 rent vs $79k).
• Recommended offer: $78k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.0% 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.
• Zoned schools: Main Street Elementary School (math 52% / reading 42%, grade D-, #219 of 2,056 statewide, top 12%, 381 students, 0% FRL); Moulton Elementary School (math 22% / reading 45%, grade F, #214 of 665 statewide, top 32%, 429 students, 0% FRL); Shelbyville High School (math 17% / reading 22%, grade F, #397 of 693 statewide, top 61%, 354 students, 0% FRL) — zoned schools average 0% FRL vs 38% district-wide (38 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 52 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 $545 of loan paydown is wiped out by about $2k 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 23 days — a 2% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y 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.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $77,716 (1.5% below list)

Questions for the listing agent

1. Built in 1950 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 1.01% ✓
• Cap rate: 7.99%
• Cash-on-cash: 6.07%
• DSCR: 1.27
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $74,365
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
707 W North 2nd St	0.35mi	2/1.0 (+1)	768 (+10%)	12mo	$93,000	$121	51
908 W South 1st St	0.63mi	2/1.0 (+1)	768 (+10%)	10mo	$82,000	$107	40
516 N Douglas St	0.42mi	2/1.0 (+1)	780 (+12%)	20mo	$74,900	$96	38

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: -6.9%
• Equity multiple: 0.74×
• Total profit: $-5,676
• Equity at exit: $11,764

10-year hold

• IRR: 2.6%
• Equity multiple: 1.19×
• Total profit: $4,200
• Equity at exit: $6,822

Cash invested: $22,092 (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: 52
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $798 medium
• Mortgage (P&I): −$414
• Tax from tax record: −$72 /mo · $867/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$168
• Net cashflow: $112

Break-even live

Break-even rent $657

Max offer price $78,900

Occupancy floor 81%

Sensitivity live

Price	-10% $156	-5% $134	+0% $112	+5% $89	+10% $67
Rent	-10% $49	-5% $80	+0% $112	+5% $143	+10% $175
Rate	-1.0pp $151	-0.5pp $132	base $112	+0.5pp $91	+1.0pp $70

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: $19,725
• Closing costs: $2,367
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-05-15
   status Pending
2. 2026-04-26
   historical Active Under Contract
3. 2026-04-22
   listed $78,900 Active
4. 2023-08-08
   soldstatus $70,500
5. 2023-08-07
   soldstatus $70,500 Closed 484-char remark

   Show marketing remark (484 chars)

   Cute and move in ready! All new interior paint, new carpet, and updated bathroom! The living room is open to the dining and kitchen making for great entertaining space. The two bedrooms have good closet space and the bathroom is conveniently located between them. The laundry room has storage space as well as access to the cellar. There is a sliding door off the kitchen that gives access to the large deck and back yard. The HVAC was new in 2022. Come take a look and move right in!

6. 2023-08-07
   soldstatus $70,500 Closed 484-char remark

   Show marketing remark (484 chars)

   Cute and move in ready! All new interior paint, new carpet, and updated bathroom! The living room is open to the dining and kitchen making for great entertaining space. The two bedrooms have good closet space and the bathroom is conveniently located between them. The laundry room has storage space as well as access to the cellar. There is a sliding door off the kitchen that gives access to the large deck and back yard. The HVAC was new in 2022. Come take a look and move right in!

7. 2023-08-02
   status Pending 484-char remark

   Show marketing remark (484 chars)

   Cute and move in ready! All new interior paint, new carpet, and updated bathroom! The living room is open to the dining and kitchen making for great entertaining space. The two bedrooms have good closet space and the bathroom is conveniently located between them. The laundry room has storage space as well as access to the cellar. There is a sliding door off the kitchen that gives access to the large deck and back yard. The HVAC was new in 2022. Come take a look and move right in!

8. 2023-08-02
   status Pending 484-char remark

   Show marketing remark (484 chars)

   Cute and move in ready! All new interior paint, new carpet, and updated bathroom! The living room is open to the dining and kitchen making for great entertaining space. The two bedrooms have good closet space and the bathroom is conveniently located between them. The laundry room has storage space as well as access to the cellar. There is a sliding door off the kitchen that gives access to the large deck and back yard. The HVAC was new in 2022. Come take a look and move right in!

9. 2023-07-12
   historical Contingent - Continue to Show 484-char remark

   Show marketing remark (484 chars)

   Cute and move in ready! All new interior paint, new carpet, and updated bathroom! The living room is open to the dining and kitchen making for great entertaining space. The two bedrooms have good closet space and the bathroom is conveniently located between them. The laundry room has storage space as well as access to the cellar. There is a sliding door off the kitchen that gives access to the large deck and back yard. The HVAC was new in 2022. Come take a look and move right in!

10. 2023-07-12
    historical Active Under Contract 484-char remark

    Show marketing remark (484 chars)

    Cute and move in ready! All new interior paint, new carpet, and updated bathroom! The living room is open to the dining and kitchen making for great entertaining space. The two bedrooms have good closet space and the bathroom is conveniently located between them. The laundry room has storage space as well as access to the cellar. There is a sliding door off the kitchen that gives access to the large deck and back yard. The HVAC was new in 2022. Come take a look and move right in!

11. 2023-07-10
    listed $74,500 Active 484-char remark

    Show marketing remark (484 chars)

    Cute and move in ready! All new interior paint, new carpet, and updated bathroom! The living room is open to the dining and kitchen making for great entertaining space. The two bedrooms have good closet space and the bathroom is conveniently located between them. The laundry room has storage space as well as access to the cellar. There is a sliding door off the kitchen that gives access to the large deck and back yard. The HVAC was new in 2022. Come take a look and move right in!

12. 2023-07-10
    listed $74,500 Active 484-char remark

    Show marketing remark (484 chars)

    Cute and move in ready! All new interior paint, new carpet, and updated bathroom! The living room is open to the dining and kitchen making for great entertaining space. The two bedrooms have good closet space and the bathroom is conveniently located between them. The laundry room has storage space as well as access to the cellar. There is a sliding door off the kitchen that gives access to the large deck and back yard. The HVAC was new in 2022. Come take a look and move right in!

13. 2022-07-08
    soldstatus $48,000
14. 2022-07-08
    soldstatus $48,000
15. 2022-05-20
    soldstatus $48,000
16. 2022-04-12
    listed $54,900
17. 2022-04-12
    listed $54,900
18. 2010-04-26
    soldstatus $41,500

ⓘ 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: $867 · $72/mo
• Projected year-2 tax: $1,329 · $111/mo
• Expected delta: +$462/yr (+$38/mo · 53.3%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low 0% 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: $9,579
• − Mortgage interest: −$4,420
• − Property taxes: −$867
• − Insurance: −$394
• − Repairs & maintenance: −$766
• − Management: −$766
• − Depreciation: −$2,295
• Taxable income: $69
• Est. tax owed @ 24.0%: −$17
• After-tax cash flow: $1,324/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

+90.1% since first listed

18 events — show timeline

• 2026-05-15 Pending — CIBR
• 2026-04-26 Contingent — CIBR
• 2026-04-22 Listed $78,900 CIBR
• 2023-08-08 Sold (Public Records) $70,500 Public Records
• 2023-08-07 Sold (MLS) $70,500 MRED as Distributed by MLS Grid
• 2023-08-07 Sold (MLS) $70,500 CIBR
• 2023-08-02 Pending — MRED as Distributed by MLS Grid
• 2023-08-02 Pending — CIBR
• 2023-07-12 Contingent — MRED as Distributed by MLS Grid
• 2023-07-12 Contingent — CIBR
• 2023-07-10 Listed $74,500 MRED as Distributed by MLS Grid
• 2023-07-10 Listed $74,500 CIBR
• 2022-07-08 Sold (MLS) $48,000 MRED as Distributed by MLS Grid
• 2022-07-08 Sold (MLS) $48,000 CIBR
• 2022-05-20 Sold (Public Records) $48,000 Public Records
• 2022-04-12 Listed $54,900 MRED as Distributed by MLS Grid
• 2022-04-12 Listed $54,900 CIBR
• 2010-04-26 Sold (Public Records) $41,500 Public Records

Property tax history

+3.6%/yr

Latest (2024): $867 · +9.1% YoY. Source: county tax records.