607 E Hancock St · Steeleville, IL 62288

$45,000

3 bd · 0.5 ba · 1,003 sqft · SingleFamily · 466 Days on market

10,454 sqft lot $45/sqft · 61% below area ↓ 10% since listing

---

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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

MOTIVATED SELLER!! This property is for all of those handymen/women out there. This 1-1/2 story home needs some TLC and could be beautiful again. It needs someone with the vision. It is located on a .24 acre corner lot, 60' x 160', which backs to an alley way. According to the Courthouse records the age of the home is unknown, over the 50 year mark, before 1971. In 2013-2014 the owner had put on a new roof. There is a detached one-car garage in back of the home. The kitchen/dining room area is approximately 25' x 11'. The house was set up for propane utilities. Seller is selling 'AS IS and 'WHERE IS" and to make no repairs.

Key facts

• Corner lot
• New roof
• Detached garage

Tags

• CORNER LOT
• NEW ROOF
• DETACHED GARAGE
• KITCHEN DINING ROOM AREA

What this means for you Summary

Snapshot

• This is a 3-bed/0.5-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $386 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($955 rent vs $45k).
• Recommended offer: $40k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#487 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Steeleville CUSD 138 (town): math 23% / reading 25% proficiency, ranked #348 of 620 in IL (top 56%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Steeleville Elem School (math 27% / reading 27%, grade F, #749 of 2,056 statewide, top 40%, 274 students, 0% FRL); Steeleville High School (math 15% / reading 15%, grade F, #462 of 693 statewide, top 68%, 129 students, 0% FRL) — zoned schools average 0% FRL vs 32% district-wide (32 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 11 active listings in the ZIP; 3 units permitted in Randolph County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $311 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Randolph County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 466 days — a 12% lower offer ($40k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $5k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price.
• Climate carrying-cost: extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $39,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 466 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 2.12% ✓
• Cap rate: 16.59%
• Cash-on-cash: 36.76%
• DSCR: 2.64
• GRM: 3.9

CMA / ARV

• ARV (median comp): $116,861
• List price: $45,000
• Delta: -61.49%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
506 S Sparta St	0.40mi	3/1.0	1,000 (-0%)	11mo	$89,000	$89	70
313 N Meadow Ln	0.68mi	3/1.0	900 (-10%)	1mo	$139,000	$154	48
207 E Jenkins St	0.35mi	2/1.0 (-1)	864 (-14%)	13mo	$45,000	$52	43
501 N Oak	0.72mi	3/1.0	1,144 (+14%)	10mo	$122,500	$107	33
501 S Garfield St	0.70mi	2/1.0 (-1)	900 (-10%)	13mo	$110,000	$122	32

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: 32.7%
• Equity multiple: 2.38×
• Total profit: $17,341
• Equity at exit: $6,710

10-year hold

• IRR: 39.7%
• Equity multiple: 4.73×
• Total profit: $46,957
• Equity at exit: $3,891

Cash invested: $12,600 (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 62288

• Home prices YoY: -25.9%
• Active inventory: 11
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $955 medium
• Mortgage (P&I): −$236
• Tax from tax record: −$114 /mo · $1,367/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$201
• Net cashflow: $386

Break-even live

Break-even rent $467

Max offer price $45,000

Occupancy floor 55%

Sensitivity live

Price	-10% $411	-5% $399	+0% $386	+5% $373	+10% $360
Rent	-10% $311	-5% $348	+0% $386	+5% $424	+10% $461
Rate	-1.0pp $409	-0.5pp $397	base $386	+0.5pp $374	+1.0pp $362

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-22
   days on market $45,000 Active 466 DOM
2. 2026-06-21
   days on market $45,000 Active 465 DOM
3. 2026-06-21
   days on market $45,000 Active 464 DOM
4. 2026-06-18
   days on market $45,000 Active 462 DOM
5. 2026-06-17
   days on market $45,000 Active 461 DOM
6. 2026-06-16
   days on market $45,000 Active 460 DOM
7. 2026-06-15
   days on market $45,000 Active 459 DOM
8. 2026-06-13
   days on market $45,000 Active 457 DOM
9. 2026-06-12
   days on market $45,000 Active 456 DOM
10. 2026-06-09
    days on market $45,000 Active 453 DOM
11. 2026-06-08
    days on market $45,000 Active 452 DOM
12. 2026-06-07
    days on market $45,000 Active 451 DOM
13. 2026-06-04
    days on market $45,000 Active 447 DOM
14. 2026-06-02
    days on market $45,000 Active 446 DOM
15. 2026-06-01
    days on market $45,000 Active 445 DOM
16. 2026-05-31
    days on market $45,000 Active 444 DOM
17. 2026-05-31
    days on market $45,000 Active 443 DOM
18. 2026-03-13
    status Active 640-char remark

    Show marketing remark (640 chars)

    MOTIVATED SELLER!! This property is for all of those handymen/women out there. This 1-1/2 story home needs some TLC and could be beautiful again. It needs someone with the vision. It is located on a .24 acre corner lot, 60' x 160', which backs to an alley way. According to the Courthouse records the age of the home is unknown, over the 50 year mark, before 1971. In 2013-2014 the owner had put on a new roof. There is a detached one-car garage in back of the home. The kitchen/dining room area is approximately 25' x 11'. The house was set up for propane utilities. Seller is selling 'AS IS and 'WHERE IS" and to make no repairs.

19. 2025-08-26
    price $45,000 640-char remark

    Show marketing remark (640 chars)

    MOTIVATED SELLER!! This property is for all of those handymen/women out there. This 1-1/2 story home needs some TLC and could be beautiful again. It needs someone with the vision. It is located on a .24 acre corner lot, 60' x 160', which backs to an alley way. According to the Courthouse records the age of the home is unknown, over the 50 year mark, before 1971. In 2013-2014 the owner had put on a new roof. There is a detached one-car garage in back of the home. The kitchen/dining room area is approximately 25' x 11'. The house was set up for propane utilities. Seller is selling 'AS IS and 'WHERE IS" and to make no repairs.

20. 2025-03-04
    listed $50,000 Active 640-char remark

    Show marketing remark (640 chars)

    MOTIVATED SELLER!! This property is for all of those handymen/women out there. This 1-1/2 story home needs some TLC and could be beautiful again. It needs someone with the vision. It is located on a .24 acre corner lot, 60' x 160', which backs to an alley way. According to the Courthouse records the age of the home is unknown, over the 50 year mark, before 1971. In 2013-2014 the owner had put on a new roof. There is a detached one-car garage in back of the home. The kitchen/dining room area is approximately 25' x 11'. The house was set up for propane utilities. Seller is selling 'AS IS and 'WHERE IS" and to make no repairs.

ⓘ 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: $1,367 · $114/mo
• Projected year-2 tax: $1,367 · $114/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 5/10 Major 7 d/yr ≥107°F today · 22 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: $11,463
• − Mortgage interest: −$2,521
• − Property taxes: −$1,367
• − Insurance: −$225
• − Repairs & maintenance: −$917
• − Management: −$917
• − Depreciation: −$1,309
• Taxable income: $4,207
• Est. tax owed @ 24.0%: −$1,010
• After-tax cash flow: $3,622/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: Steeleville CUSD 138
• NCES district ID: 1737650
• Math proficiency: 23% ▬ 0.00%
• Reading proficiency: 25% ▼ -12.00%
• Median HH income: $49,973
• Composite: 21.23/100
• National rank: #8406
• State rank: #348 of 620 in IL

Livability — Steeleville

• Score: 67/100
• State rank: #487
• US rank: #10099

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: Steeleville, IL
• Population (ZIP): 2,592

Population outlook (Randolph County) Hauer SSP2

• Today (2025): 31,417 people
• By 2030: 30,519 · -2.9%
• By 2040: 28,841 · -8.2%
• By 2050: 27,150 · -13.6%
• By 2075: 22,569 · -28.2%
• By 2100: 16,584 · -47.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Hispanic / Latino 3% Two or more races 1% Black 1%
• Common ancestry: Romanian 2% Slovak 1% Serbian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 3% Other Indo-European 2%

Political lean MEDSL · Randolph

• 2024 margin: Solid R (+50.0) · D 24.1% · R 74.1% · Other 1.7%
• 2008→2024 swing: -49.0pp toward R · 2008: -0.9pp · 2024: -50.0pp
• All cycles: 2024: R+50.0 2020: R+50.2 2016: R+46.8 2012: R+17.6 2008: R+0.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -50.84%
• Current HPI: 145.7477
• 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

-10.0% since first listed

3 events — show timeline

• 2026-03-13 Relisted — MARIS as Distributed by MLS Grid
• 2025-08-26 Price Changed $45,000 MARIS as Distributed by MLS Grid
• 2025-03-04 Listed $50,000 MARIS as Distributed by MLS Grid

Property tax history

+12.2%/yr

Latest (2024): $1,367 · +3.5% YoY. Source: county tax records.