608 Elm St · Villa Grove, IL 61956

$14,900

2 bd · 1.0 ba · 858 sqft · SingleFamily public records · 27 Days on market

Built 1904 0.49 ac lot $17/sqft · 79% below area

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Sitting on a triple lot at the end of a quiet street in Villa Grove you'll find endless possibilities! Start fresh and build your dream home or add your creative touches and restore what once was. Sold as is.

Key facts

• Quiet street
• Triple lot
• 0.49 acre lot

Tags

• TRIPLE LOT
• QUIET STREET

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $15k.

Deal economics

• At list price, monthly cash flow is $573 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($855 rent vs $15k).
• Recommended offer: $15k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#713 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, housing A; Watch: employment D, schools D-, amenities F.
• Villa Grove CUSD 302 (rural): math 15% / reading 19% proficiency, ranked #464 of 620 in IL (top 75%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 10 active listings in the ZIP; 36 units permitted in Douglas County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $103 of loan paydown is wiped out by about $447 of value loss. Plan a longer hold.
• Douglas County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($15k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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 1904 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $14,676 (1.5% below list)

Questions for the listing agent

1. Built in 1904 — 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. 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?
4. 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?
5. 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.
6. 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.
7. 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: 5.74% ✓
• Cap rate: 52.43%
• Cash-on-cash: 164.77%
• DSCR: 8.33
• GRM: 1.5

CMA / ARV

• ARV (median comp): $70,417
• List price: $14,900
• Delta: -78.84%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
303 S Spruce St	0.23mi	3/1.0 (+1)	945 (+10%)	2mo	$36,050	$38	66
207 N Pine St	0.60mi	2/1.0	836 (-3%)	11mo	$100,000	$120	58
405 E Wilson St	0.70mi	2/1.0	889 (+4%)	22mo	$65,000	$73	43
203 N Pine St	0.59mi	2/1.0	960 (+12%)	17mo	$62,000	$65	39
408 W Harrison St	0.75mi	2/1.5	959 (+12%)	9mo	$149,000	$155	36
307 E Wilson St	0.69mi	3/1.0 (+1)	953 (+11%)	20mo	$60,000	$63	28

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: —
• Equity multiple: 9.17×
• Total profit: $34,083
• Equity at exit: $2,222

10-year hold

• IRR: —
• Equity multiple: 19.39×
• Total profit: $76,710
• Equity at exit: $1,288

Cash invested: $4,172 (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 61956

• Home prices YoY: -9.3%
• Active inventory: 10
• Price-to-rent: 1.5×

Monthly cashflow live

• Estimated rent: $855 medium
• Mortgage (P&I): −$78
• Tax est. 1.5%: −$19 /mo · $224/yr
• Insurance: −$6
• HOA: −$0
• Vacancy / Maint / Mgmt: −$180
• Net cashflow: $573

Break-even live

Break-even rent $130

Max offer price $14,900

Occupancy floor 28%

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: $3,725
• Closing costs: $447
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $14,900 Active 27 DOM
2. 2026-06-17
   days on market $14,900 Active 26 DOM
3. 2026-06-16
   days on market $14,900 Active 25 DOM
4. 2026-06-15
   days on market $14,900 Active 24 DOM
5. 2026-06-13
   days on market $14,900 Active 22 DOM
6. 2026-06-12
   days on market $14,900 Active 21 DOM
7. 2026-06-09
   days on market $14,900 Active 18 DOM
8. 2026-06-08
   days on market $14,900 Active 17 DOM
9. 2026-06-07
   days on market $14,900 Active 16 DOM
10. 2026-06-05
    days on market $14,900 Active 14 DOM
11. 2026-06-04
    days on market $14,900 Active 12 DOM
12. 2026-06-02
    days on market $14,900 Active 11 DOM
13. 2026-06-01
    days on market $14,900 Active 10 DOM
14. 2026-05-31
    days on market $14,900 Active 9 DOM
15. 2026-05-31
    days on market $14,900 Active 8 DOM
16. 2025-11-14
    listed $14,900 Active
17. 2025-04-16
    listed $14,900 Active 208-char remark

    Show marketing remark (208 chars)

    Sitting on a triple lot at the end of a quiet street in Villa Grove you'll find endless possibilities! Start fresh and build your dream home or add your creative touches and restore what once was. Sold as is.

18. 2024-12-26
    historical
19. 2024-08-16
    listed Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥105°F today · 19 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,265
• − Mortgage interest: −$835
• − Property taxes: −$224
• − Insurance: −$74
• − Repairs & maintenance: −$821
• − Management: −$821
• − Depreciation: −$433
• Taxable income: $7,057
• Est. tax owed @ 24.0%: −$1,694
• After-tax cash flow: $5,180/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: Villa Grove CUSD 302
• NCES district ID: 1740320
• Math proficiency: 15% ▼ -6.00%
• Reading proficiency: 19% ▼ -12.00%
• Median HH income: $52,614
• Composite: 15.67/100
• National rank: #9286
• State rank: #464 of 620 in IL

Livability — Villa Grove

• Score: 64/100
• State rank: #713
• US rank: #14496

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: Villa Grove, IL
• Population (ZIP): 3,046

Population outlook (Douglas County) Hauer SSP2

• Today (2025): 19,209 people
• By 2030: 18,940 · -1.4%
• By 2040: 18,397 · -4.2%
• By 2050: 17,829 · -7.2%
• By 2075: 16,395 · -14.6%
• By 2100: 14,329 · -25.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Asian 1% Hispanic / Latino 1% Two or more races 1%
• Common ancestry: Italian 2% Iranian 2% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Russian/Polish/Slavic 1% Spanish 1% French/Haitian/Cajun 1%

Political lean MEDSL · Douglas

• 2024 margin: Solid R (+46.1) · D 26.1% · R 72.3% · Other 1.6%
• 2008→2024 swing: -24.9pp toward R · 2008: -21.3pp · 2024: -46.1pp
• All cycles: 2024: R+46.1 2020: R+44.4 2016: R+46.3 2012: R+36.8 2008: R+21.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -21.97%
• Current HPI: 213.6799
• 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

+0.0% since first listed

4 events — show timeline

• 2025-11-14 Listed $14,900 CIBR
• 2025-04-16 Listed $14,900 MRED as Distributed by MLS Grid
• 2024-12-26 Listing Removed — MRED as Distributed by MLS Grid
• 2024-08-16 Listed — MRED as Distributed by MLS Grid

Property tax history

+27.8%/yr

Latest (2024): $1,639 · +6.5% YoY. Source: county tax records.