206 N Mason St · Bloomington, IL 61701

$85,000

2 bd · 2.0 ba · 900 sqft · Other · 10 Days on market

Built 1905 3,876 sqft lot

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• ARV discount +7.5/15.0
• Rent growth +3.9/5.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks

Charming Cape Cod just minutes from shops, parks & more! Centrally located, this home is only 2 blocks away from Downtown Bloomington and Constitution Trail. Entering the home, the interior offers a spacious living room & dining room combo, kitchen with dining table space, 1st floor bedroom with newer carpet, and 1st floor full bathroom with washer/dryer hookups, new toilet, brand new laminate flooring, and new light fixture. Going up the stairs to the upper level is the primary bedroom with primary bathroom. Primary bathroom offers a clawfoot tub and built in desk/shelving with new laminate flooring. Making your way to the outside of the home, the exterior offers a front porch,

Key facts

• Constitution trail
• 1st floor bedroom
• Centrally located

Tags

• CENTRALLY LOCATED
• CONSTITUTION TRAIL
• SPACIOUS LIVING ROOM
• DINING ROOM COMBO
• 1ST FLOOR BEDROOM
• 1ST FLOOR FULL BATHROOM

Property features AI

Finance

• Other: School bus service available
• HOA & community: No master association fee required; Community features include park, curbs, sidewalks, street lights and paved streets

Exterior

• Parking: Off-alley parking
• Utilities: Public water; Public sewer; Electric service with circuit breakers
• Home design: Detached single-family home; 1.5-story home; Fee simple ownership; Property currently leased; Over 100 years old; Asphalt roof; Brick/mortar foundation; Vinyl siding
• Construction: Built before 1978; Brick/mortar foundation; Vinyl siding construction; Asphalt roof
• Exterior features: Fenced yard with wood fencing; Mature trees; Lot dimensions approximately 45 x 88; Less than 0.25 acre lot; Street paved with curbs, sidewalks and street lights; Park nearby

Interior

• Kitchen: Range; Refrigerator; Eating area / table space in kitchen
• Bedrooms: Master bedroom on the second floor (with full bath); Additional bedrooms on main level
• Flooring: Hardwood in main living areas and bedrooms; Ceramic tile in kitchen; Carpet and laminate in some areas
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: First-floor bedroom; First-floor full bath; Dining combo (separate dining room); 5 total rooms; Unfinished partial basement with cellar; Basement is partially unfinished
• Laundry & utility: Laundry on the main level; Laundry located in bathroom; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $85k.

Deal economics

• At list price, monthly cash flow is $351 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Cap rate 11.3% vs local median 5.4% in Bloomington — 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 77/100 on livability (#161 in IL, #2,987 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, commute F.
• Bloomington SD 87 (urban): math 14% / reading 19% proficiency, ranked #476 of 620 in IL (top 77%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Sheridan Elem School (math 2% / reading 8%, grade F, #1,741 of 2,056 statewide, top 93%, 365 students, 0% FRL); Bloomington Jr High School (math 12% / reading 19%, grade F, #493 of 665 statewide, top 75%, 1,006 students, 0% FRL); Bloomington High School (math 27% / reading 33%, grade F, #179 of 693 statewide, top 27%, 1,503 students, 0% FRL) — zoned schools average 0% FRL vs 51% district-wide (51 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+5.6%/yr); 92 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; 247 units permitted in McLean County in 2024 (54 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 5.6% rent growth), your $24k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 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 $35k; list at $85k implies a 143% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $85,000

Questions for the listing agent

1. Built in 1905 — 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: 1.45% ✓
• Cap rate: 11.25%
• Cash-on-cash: 17.71%
• DSCR: 1.79
• GRM: 5.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.6% rent growth · sell at horizon

5-year hold

• IRR: 12.2%
• Equity multiple: 1.50×
• Total profit: $11,940
• Equity at exit: $12,674

10-year hold

• IRR: 23.2%
• Equity multiple: 3.26×
• Total profit: $53,676
• Equity at exit: $7,349

Cash invested: $23,800 (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 61701

• Rents YoY: 5.6%
• Active inventory: 92
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,232 high
• Mortgage (P&I): −$446
• Tax from tax record: −$141 /mo · $1,696/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$259
• Net cashflow: $351

Break-even live

Break-even rent $788

Max offer price $85,000

Occupancy floor 67%

Sensitivity live

Price	-10% $399	-5% $375	+0% $351	+5% $327	+10% $303
Rent	-10% $254	-5% $302	+0% $351	+5% $400	+10% $449
Rate	-1.0pp $394	-0.5pp $373	base $351	+0.5pp $329	+1.0pp $307

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
703 W Olive St Bloomington, IL	3.0	1.0	1000	$1,495	$1.50	22d	1	0.21mi
912 N Madison St Apt 2 Bloomington, IL	1.0	1.0	850	$950	$1.12	45d	1	0.55mi
915 N Madison St Unit 4 Bloomington, IL	2.0	1.0	900	$899	$1.00	22d	1	0.58mi
804 S Morris Ave Unit 1 Bloomington, IL	1.0	1.0	700	$850	$1.21	22d	1	0.62mi
909 N Main St Bloomington, IL	1.0	1.0	630	$850	$1.35	22d	1	0.62mi
507 1/2 S Clayton St Bloomington, IL	3.0	1.0	1003	$1,895	$1.89	22d	1	0.83mi
503 E Empire St Bloomington, IL	3.0	2.0	1000	$1,795	$1.79	45d	1	0.83mi
601 S Clayton St Apt B Bloomington, IL	1.0	1.0	575	$875	$1.52	45d	1	0.86mi
1 White Pl Unit 201 Bloomington, IL	1.0	1.0	600	$1,425	$2.38	45d	1	1.05mi
404 S Mc Clun St Bloomington, IL	2.0	1.0	745	$1,200	$1.61	45d	1	1.10mi
304 Turnberry Dr Bloomington, IL	2.0–3.0	1.0–2.0	1032	$1,299	$1.26	22d	4	1.45mi

Listing history 9 events

1. 2026-06-21
   days on market $85,000 Active 10 DOM
2. 2026-06-19
   days on market $85,000 Active 8 DOM
3. 2026-06-18
   days on market $85,000 Active 7 DOM
4. 2026-06-17
   days on market $85,000 Active 6 DOM
5. 2026-06-16
   days on market $85,000 Active 5 DOM
6. 2026-06-15
   days on market $85,000 Active 4 DOM
7. 2026-06-14
   days on market $85,000 Active 2 DOM
8. 2026-06-13
   remarks 691-char remark
9. 2026-06-13
   listed $85,000 Active 1 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: $1,696 · $141/mo
• Projected year-2 tax: $1,813 · $151/mo
• Expected delta: +$117/yr (+$10/mo · 6.9%)

ⓘ 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 3/10 Moderate 7 d/yr ≥106°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $14,790
• − Mortgage interest: −$4,761
• − Property taxes: −$1,696
• − Insurance: −$425
• − Repairs & maintenance: −$1,183
• − Management: −$1,183
• − Depreciation: −$2,473
• Taxable income: $3,068
• Est. tax owed @ 24.0%: −$736
• After-tax cash flow: $3,478/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: Bloomington SD 87
• NCES district ID: 1706480
• Math proficiency: 14% ▼ -7.00%
• Reading proficiency: 19% ▼ -7.00%
• Median HH income: $50,544
• Composite: 15.05/100
• National rank: #9351
• State rank: #476 of 620 in IL

Livability — Bloomington

• Score: 77/100
• State rank: #161
• US rank: #2987

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bloomington, IL
• County: McLean County · 126,490 people
• City population: 72,415
• Metro: Bloomington, IL
• Population (ZIP): 35,136
• Household income: $57,130
• Rent vs Own: 43.3% rent · 56.7% own
• Severe rent burden: 1493.0

Population outlook (McLean County) Hauer SSP2

• Today (2025): 176,468 people
• By 2030: 178,002 · +0.9%
• By 2040: 178,592 · +1.2%
• By 2050: 177,090 · +0.4%
• By 2075: 173,224 · -1.8%
• By 2100: 158,425 · -10.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Black 13% Two or more races 9% Hispanic / Latino 9% Asian 3%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Romanian 3% Slovak 2% Italian 1%
• Foreign-born: 6% · Canada, Philippines, Vietnam
• Languages at home: 91% English-only · Spanish 5% Other Asian/Pacific 1% Other Indo-European 1%

Political lean MEDSL · McLean

• 2024 margin: Toss-up / Even · D 51.6% · R 46.8% · Other 1.6%
• 2008→2024 swing: +3.7pp toward D · 2008: 1.2pp · 2024: 4.9pp
• All cycles: 2024: D+4.9 2020: D+3.9 2016: R+1.5 2012: R+11.1 2008: D+1.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -115.13%
• Current HPI: 172.3659
• Rent YoY: ▲ 5.60%
• Metro: Bloomington, IL
• 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

+203.6% since first listed

19 events — show timeline

• 2026-06-10 Listed $85,000 MRED as Distributed by MLS Grid
• 2024-10-18 Listing Removed — RMLSA as Distributed by MLS Grid
• 2024-10-17 Listing Removed — MRED as Distributed by MLS Grid
• 2024-04-17 Listed — MRED as Distributed by MLS Grid
• 2024-03-02 Rental Removed $1,000 MRED
• 2024-01-05 Listed for Rent $1,000 MRED
• 2024-01-05 Listing Removed — MRED as Distributed by MLS Grid
• 2023-11-28 Price Changed — MRED as Distributed by MLS Grid
• 2023-10-07 Listed — MRED as Distributed by MLS Grid
• 2021-12-07 Sold (MLS) $35,000 MRED as Distributed by MLS Grid
• 2021-11-17 Pending — MRED as Distributed by MLS Grid
• 2021-06-16 Price Changed $45,000 MRED as Distributed by MLS Grid
• 2021-06-02 Price Changed $40,000 MRED as Distributed by MLS Grid
• 2021-05-14 Price Changed $50,000 MRED as Distributed by MLS Grid
• 2021-04-28 Listed $70,000 MRED as Distributed by MLS Grid
• 2018-06-11 Sold (Public Records) $40,000 Public Records
• 2013-03-05 Sold (Public Records) $51,000 Public Records
• 2009-10-21 Sold (Public Records) $52,000 Public Records
• 1998-06-01 Sold (Public Records) $28,000 Public Records

Property tax history

+6.3%/yr

Latest (2023): $1,696 · +10.8% YoY. Source: county tax records.