911 E Washington St · Morris, IL 60450

$159,000

3 bd · 1.0 ba · 704 sqft · SingleFamily public records · 90 Days on market

Built 1938 Est $224k · 29% under · waterfront

---

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 +22.6/30.0
• ARV discount +15.0/15.0
• DSCR +7.2/10.0
• 1% rule +5.9/10.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Newly updated ranch home on the canal. New siding and roof. Garage door to be installed by seller. 3 or 4 season room completely redone. Structure for sale only. Home sits on state of Illinois land with a land lease. Leasehold from the IDNR for $280/year.

Key facts

• 2 garage spots
• Built 1938
• Listed 89 days

Property features AI

Finance

• HOA & community: No master association fees required

Exterior

• Parking: Detached heated garage with garage door opener; Garage owned; Total parking for 2 vehicles (2 garage spaces)
• Utilities: Public water; Septic tank sewer; Electric with circuit breakers
• Home design: Detached single-family home; One-story layout; Leasehold ownership; Property currently leased
• Construction: Built approximately 81–90 years ago; Frame construction with vinyl siding; Asphalt roof
• Exterior features: Water view; Waterfront property; Lot less than 0.25 acre

Interior

• Kitchen: Kitchen on the main level (15 x 15)
• Bedrooms: Three bedrooms on the main level; Master bedroom on the main level (13 x 14) with walk-in closet
• Flooring: Carpet in bedrooms and master; Wood laminate in living room; Vinyl flooring in family room, kitchen, and laundry
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Six total rooms; School bus service available
• Laundry & utility: Main-level laundry room (8 x 6); In-unit laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $159k.

Deal economics

• At list price, monthly cash flow is $269 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $159k).
• Recommended offer: $149k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 3.5% in Morris — 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 74/100 on livability (#248 in IL, #4,532 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: amenities F, commute F.
• Morris Chsd 101 (town): math 30% / reading 31% proficiency, ranked #230 of 620 in IL (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Morris Community High School (math 30% / reading 31%, grade F, #175 of 693 statewide, top 26%, 946 students, 0% FRL).
• Market conditions: 104 active listings in the ZIP; solid renter incomes; 84 units permitted in Grundy 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 $5k of value loss. Plan a longer hold.
• Grundy County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($149k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 9y ago; this cycle's ask is 99% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $60k; list at $159k implies a 165% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1938 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $149,460 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1938 — 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. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
6. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
7. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
8. 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.
9. 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.
10. 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: 1.09% ✓
• Cap rate: 8.32%
• Cash-on-cash: 7.26%
• DSCR: 1.32
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $224,294
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
731 E Benton St	0.37mi	2/1.0 (-1)	748 (+6%)	7mo	$107,000	$143	62
914 E Benton St	0.34mi	2/2.0 (-1)	740 (+5%)	6mo	$175,000	$236	61
1028 Kiersted St	0.70mi	2/1.0 (-1)	700 (-1%)	16mo	$179,000	$256	48
733 2nd Ave	0.60mi	2/1.0 (-1)	756 (+7%)	10mo	$177,500	$235	46
1118 Butler St	0.73mi	2/1.0 (-1)	756 (+7%)	14mo	$186,500	$247	37

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: -5.2%
• Equity multiple: 0.81×
• Total profit: $-8,593
• Equity at exit: $23,707

10-year hold

• IRR: 4.5%
• Equity multiple: 1.33×
• Total profit: $14,699
• Equity at exit: $13,747

Cash invested: $44,520 (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 60450

• Active inventory: 104
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,729 medium
• Mortgage (P&I): −$834
• Tax from tax record: −$197 /mo · $2,362/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$363
• Net cashflow: $269

Break-even live

Break-even rent $1,388

Max offer price $159,000

Occupancy floor 79%

Sensitivity live

Price	-10% $359	-5% $314	+0% $269	+5% $224	+10% $179
Rent	-10% $133	-5% $201	+0% $269	+5% $338	+10% $406
Rate	-1.0pp $349	-0.5pp $310	base $269	+0.5pp $228	+1.0pp $186

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-21
   days on market $159,000 Active 90 DOM
2. 2026-06-18
   days on market $159,000 Active 87 DOM
3. 2026-06-17
   days on market $159,000 Active 86 DOM
4. 2026-06-16
   days on market $159,000 Active 85 DOM
5. 2026-06-15
   days on market $159,000 Active 84 DOM
6. 2026-06-13
   days on market $159,000 Active 82 DOM
7. 2026-06-13
   days on market $159,000 Active 81 DOM
8. 2026-06-09
   days on market $159,000 Active 78 DOM
9. 2026-06-08
   days on market $159,000 Active 77 DOM
10. 2026-06-07
    days on market $159,000 Active 76 DOM
11. 2026-06-04
    days on market $159,000 Active 73 DOM
12. 2026-06-03
    days on market $159,000 Active 72 DOM
13. 2026-06-02
    days on market $159,000 Active 71 DOM
14. 2026-06-01
    days on market $159,000 Active 70 DOM
15. 2026-05-31
    days on market $159,000 Active 69 DOM
16. 2026-05-13
    price $159,000
17. 2020-07-29
    historical 255-char remark

    Show marketing remark (255 chars)

    Newly updated ranch home on the canal. New siding and roof. Garage door to be installed by seller. 3 or 4 season room completely redone. Structure for sale only. Home sits on state of Illinois land with a land lease. Leasehold from the IDNR for $280/year.

18. 2020-07-29
    soldstatus $60,000 Closed Sale 255-char remark

    Show marketing remark (255 chars)

    Newly updated ranch home on the canal. New siding and roof. Garage door to be installed by seller. 3 or 4 season room completely redone. Structure for sale only. Home sits on state of Illinois land with a land lease. Leasehold from the IDNR for $280/year.

19. 2020-07-29
    soldstatus $60,000

    Show marketing remark (255 chars)

    Newly updated ranch home on the canal. New siding and roof. Garage door to be installed by seller. 3 or 4 season room completely redone. Structure for sale only. Home sits on state of Illinois land with a land lease. Leasehold from the IDNR for $280/year.

20. 2020-06-08
    status Pending 255-char remark

    Show marketing remark (255 chars)

    Newly updated ranch home on the canal. New siding and roof. Garage door to be installed by seller. 3 or 4 season room completely redone. Structure for sale only. Home sits on state of Illinois land with a land lease. Leasehold from the IDNR for $280/year.

21. 2020-05-05
    listed $79,900 New 255-char remark

    Show marketing remark (255 chars)

    Newly updated ranch home on the canal. New siding and roof. Garage door to be installed by seller. 3 or 4 season room completely redone. Structure for sale only. Home sits on state of Illinois land with a land lease. Leasehold from the IDNR for $280/year.

22. 2018-02-15
    soldstatus $75,000 Closed Sale 525-char remark

    Show marketing remark (525 chars)

    Home Warranty Included. New kitchen cabinets, DW and microwave, commercial tile floor, new shower and faucet, new carpet in all bedrooms, new doors and storm doors. 3 or 4 season room completely redone. New rubber roof over back of house w 15 year guarantee. Huge MB walk-in closet big enough for full bath plus closet. 2 Nicaraguan chair hammocks. All furniture stays with house. Stack-able washer and dryer. Leasehold from the IDNR for $280/year. Dock area needs to be rebuilt with deck area large enough for 3 or 4 chairs.

23. 2017-07-23
    listed $109,900 New 525-char remark

    Show marketing remark (525 chars)

    Home Warranty Included. New kitchen cabinets, DW and microwave, commercial tile floor, new shower and faucet, new carpet in all bedrooms, new doors and storm doors. 3 or 4 season room completely redone. New rubber roof over back of house w 15 year guarantee. Huge MB walk-in closet big enough for full bath plus closet. 2 Nicaraguan chair hammocks. All furniture stays with house. Stack-able washer and dryer. Leasehold from the IDNR for $280/year. Dock area needs to be rebuilt with deck area large enough for 3 or 4 chairs.

ⓘ 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: $2,362 · $197/mo
• Projected year-2 tax: $2,985 · $249/mo
• Expected delta: +$624/yr (+$52/mo · 26.4%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 32% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 16 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: $20,751
• − Mortgage interest: −$8,906
• − Property taxes: −$2,362
• − Insurance: −$795
• − Repairs & maintenance: −$1,660
• − Management: −$1,660
• − Depreciation: −$4,625
• Taxable income: $742
• Est. tax owed @ 24.0%: −$178
• After-tax cash flow: $3,053/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: Morris Chsd 101
• NCES district ID: 1726640
• Math proficiency: 30% ▼ -12.00%
• Reading proficiency: 31% ▼ -6.00%
• Median HH income: $57,178
• Composite: 27.31/100
• National rank: #6995
• State rank: #230 of 620 in IL

Livability — Morris

• Score: 74/100
• State rank: #248
• US rank: #4532

Category grades

Amenities F 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: Morris, IL
• County: Grundy County · 20,783 people
• City population: 20,783
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 20,783
• Household income: $81,777
• Rent vs Own: 35.1% rent · 64.9% own
• Severe rent burden: 722.0

Population outlook (Grundy County) Hauer SSP2

• Today (2025): 50,716 people
• By 2030: 50,218 · -1.0%
• By 2040: 48,599 · -4.2%
• By 2050: 46,212 · -8.9%
• By 2075: 40,033 · -21.1%
• By 2100: 32,966 · -35.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 9% Two or more races 7% Black 2%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Portuguese 10% Romanian 7% Iranian 2%
• Foreign-born: 4% · Canada
• Languages at home: 91% English-only · Spanish 6% Tagalog/Filipino 1% Other Indo-European 1%

Political lean MEDSL · Grundy

• 2024 margin: Strong R (+29.6) · D 34.5% · R 64.0% · Other 1.5%
• 2008→2024 swing: -31.3pp toward R · 2008: 1.7pp · 2024: -29.6pp
• All cycles: 2024: R+29.6 2020: R+25.8 2016: R+23.6 2012: R+9.0 2008: D+1.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -144.59%
• Current HPI: 159.5402
• Rent YoY: —
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• 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

+44.7% since first listed

8 events — show timeline

• 2026-05-13 Price Changed $159,000 MRED as Distributed by MLS Grid
• 2020-07-29 Listing Removed — MRED as Distributed by MLS Grid
• 2020-07-29 Sold (MLS) $60,000 MRED as Distributed by MLS Grid
• 2020-07-29 Sold (Public Records) $60,000 Public Records
• 2020-06-08 Pending — MRED as Distributed by MLS Grid
• 2020-05-05 Listed $79,900 MRED as Distributed by MLS Grid
• 2018-02-15 Sold (MLS) $75,000 MRED as Distributed by MLS Grid
• 2017-07-23 Listed $109,900 MRED as Distributed by MLS Grid

Property tax history

+4.0%/yr

Latest (2024): $2,362 · +5.9% YoY. Source: county tax records.