405 N Wood St · Washington, IL 61571

$190,000

2 bd · 1.0 ba · 1,175 sqft · SingleFamily public records · 139 Days on market

Built 1950 Est $154k · 23% over

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Why this score? — see what drove the C 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 +26.9/30.0
• DSCR +9.3/10.0
• 1% rule +7.0/10.0
• Schools +3.8/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Beautiful, move in ready 1/12 story home! Close to Lincoln Grade School in Washington. Completely renovate with fresh paint, cabinets, sink countertops, flooring, new kitchen appliances, new bathroom - bath tub, toilet, sink & flooring. New carpet and light fixtures throughout. New Vinyl Siding to make it a home to be proud of. Must see! All measurements are approximate.

Key facts

• 2 garage spots
• Built 1950
• Listed 139 days

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential zoning; 1950 year built; 1528 total living area
• Construction: Has basement: crawl space, daylight access, unfinished
• Exterior features: Corner lot; Level lot; Paved road frontage; Shingle roof

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator
• Bedrooms: 3 bedrooms (one on the main level, one on the upper level, one on the lower level); Bedrooms with egress windows; Bedroom flooring: carpet
• Flooring: Carpet in many rooms; Luxury vinyl plank in the kitchen
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Cable available; Ceiling fan(s)
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $524 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $167k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 3.2% in Washington — 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 73/100 on livability (#272 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety F.
• Washington Chsd 308 (suburban): math 42% / reading 42% proficiency, ranked #112 of 620 in IL (top 18%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Washington Comm High School (math 42% / reading 42%, grade F, #76 of 693 statewide, top 12%, 1,484 students, 0% FRL).
• Market conditions: 129 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 77 units permitted in Tazewell County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Tazewell County population projected at -15% 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 $53k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 139 days — a 12% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $130k; 46% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $167,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 139 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 1.20% ✓
• Cap rate: 9.61%
• Cash-on-cash: 11.83%
• DSCR: 1.53
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $153,925
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
206 Lincoln St	0.16mi	2/2.0	1,205 (+3%)	15mo	$157,500	$131	72
405 Hamilton St	0.24mi	3/1.0 (+1)	1,099 (-6%)	12mo	$89,500	$81	63
619 Spring St	0.49mi	3/1.0 (+1)	1,136 (-3%)	8mo	$170,000	$150	60
404 W Jefferson	0.21mi	2/1.0	1,040 (-12%)	15mo	$147,000	$141	58
400 Hamilton St	0.27mi	2/1.5	1,008 (-14%)	14mo	$148,000	$147	50
311 S Market St	0.56mi	3/1.0 (+1)	1,128 (-4%)	16mo	$145,000	$129	49
205 N Church St	0.51mi	3/1.0 (+1)	1,014 (-14%)	5mo	$67,500	$67	44
805 E Adams St	0.70mi	3/2.0 (+1)	1,120 (-5%)	9mo	$199,000	$178	43
317 Court Dr	0.74mi	2/1.0	1,248 (+6%)	17mo	$135,000	$108	41
215 Court Dr	0.67mi	3/1.0 (+1)	1,327 (+13%)	4mo	$170,000	$128	39
106 Bondurant St	0.57mi	3/1.5 (+1)	1,334 (+14%)	10mo	$200,000	$150	36

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: 1.3%
• Equity multiple: 1.05×
• Total profit: $2,627
• Equity at exit: $28,330

10-year hold

• IRR: 10.9%
• Equity multiple: 1.85×
• Total profit: $45,350
• Equity at exit: $16,428

Cash invested: $53,200 (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 61571

• Active inventory: 129
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $2,282 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$203 /mo · $2,433/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$479
• Net cashflow: $524

Break-even live

Break-even rent $1,618

Max offer price $190,000

Occupancy floor 72%

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
114 S Cedar St Washington, IL	2.0	1.0	876	$1,350	$1.54	43d	1	0.72mi
700 Debates St Washington, IL	3.0	2.0	1319	$2,750	$2.08	13d	1	1.23mi
713 Stephanie Ct Washington, IL	3.0	2.0	1319	$2,750	$2.08	20d	1	1.31mi
704 Debates St Washington, IL	3.0	2.0	1319	$2,750	$2.08	13d	1	1.34mi

Listing history 20 events

1. 2026-06-18
   days on market $190,000 Active 139 DOM
2. 2026-06-17
   days on market $190,000 Active 138 DOM
3. 2026-06-16
   days on market $190,000 Active 137 DOM
4. 2026-06-15
   days on market $190,000 Active 136 DOM
5. 2026-06-13
   days on market $190,000 Active 134 DOM
6. 2026-06-12
   days on market $190,000 Active 133 DOM
7. 2026-06-09
   days on market $190,000 Active 130 DOM
8. 2026-06-08
   days on market $190,000 Active 129 DOM
9. 2026-06-07
   days on market $190,000 Active 128 DOM
10. 2026-06-05
    days on market $190,000 Active 126 DOM
11. 2026-06-04
    days on market $190,000 Active 124 DOM
12. 2026-06-02
    days on market $190,000 Active 123 DOM
13. 2026-06-01
    days on market $190,000 Active 122 DOM
14. 2026-05-31
    days on market $190,000 Active 121 DOM
15. 2026-05-31
    days on market $190,000 Active 120 DOM
16. 2026-04-23
    price $190,000
17. 2026-03-10
    price $199,900
18. 2026-01-30
    listed $209,900 Active
19. 2026-01-22
    historical $209,900
20. 2025-10-09
    soldstatus $130,000

ⓘ 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: $2,433 · $203/mo
• Projected year-2 tax: $3,373 · $281/mo
• Expected delta: +$940/yr (+$78/mo · 38.6%)

ⓘ 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 ≥104°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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,384
• − Mortgage interest: −$10,643
• − Property taxes: −$2,433
• − Insurance: −$950
• − Repairs & maintenance: −$2,191
• − Management: −$2,191
• − Depreciation: −$5,527
• Taxable income: $3,449
• Est. tax owed @ 24.0%: −$828
• After-tax cash flow: $5,466/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: Washington Chsd 308
• NCES district ID: 1740980
• Math proficiency: 42% ▬ 0.00%
• Reading proficiency: 42% ▼ -2.00%
• Median HH income: $66,029
• Composite: 37.69/100
• National rank: #4361
• State rank: #112 of 620 in IL

Livability — Washington

• Score: 73/100
• State rank: #272
• US rank: #5136

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Washington, IL
• City population: 24,544
• Population (ZIP): 24,544

Population outlook (Tazewell County) Hauer SSP2

• Today (2025): 131,252 people
• By 2030: 128,028 · -2.5%
• By 2040: 120,443 · -8.2%
• By 2050: 111,872 · -14.8%
• By 2075: 89,843 · -31.5%
• By 2100: 66,468 · -49.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 3% Two or more races 3% Asian 1%
• Common ancestry: Lithuanian 4% Italian 3% Iranian 2%
• Foreign-born: 2% · Canada, China
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Tazewell

• 2024 margin: Strong R (+26.7) · D 35.8% · R 62.5% · Other 1.8%
• 2008→2024 swing: -20.6pp toward R · 2008: -6.0pp · 2024: -26.7pp
• All cycles: 2024: R+26.7 2020: R+25.6 2016: R+28.5 2012: R+17.9 2008: R+6.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -135.85%
• Current HPI: 149.5627
• 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

+46.2% since first listed

5 events — show timeline

• 2026-04-23 Price Changed $190,000 RMLSA as Distributed by MLS Grid
• 2026-03-10 Price Changed $199,900 RMLSA as Distributed by MLS Grid
• 2026-01-30 Listed $209,900 RMLSA as Distributed by MLS Grid
• 2026-01-22 Coming Soon $209,900 RMLSA as Distributed by MLS Grid
• 2025-10-09 Sold (Public Records) $130,000 Public Records

Property tax history

+3.2%/yr

Latest (2024): $2,433 · +6.3% YoY. Source: county tax records.