539 S Main St · Waterloo, IL 62298

$150,000

2 bd · 3.0 ba · 968 sqft · SingleFamily public records · 2 Days on market

Built 1938 5,662 sqft lot Est $183k · 18% under

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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 +19.0/30.0
• ARV discount +15.0/15.0
• DSCR +6.0/10.0
• 1% rule +4.9/10.0
• Livability +4.0/5.0
• Schools +3.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Nestled in the heart of Waterloo and just a short distance to the charming downtown square, which is home to local restaurants, community events, and parades, this 2-bedroom, 2-bathroom home is full of character and waiting for its next chapter. With good bones and a layout that works, it's the perfect opportunity for a buyer ready to put their personal touch on a solid investment. The main floor features an eat-in kitchen with sliding doors that open to a sweet backyard retreat, complete with a gas grill hookup, ideal for summer evenings outdoors. Built-in hallway shelving adds a touch of character while keeping everyday life organized. Some major ticket items are already handled: enjoy pe

Key facts

• Newer roof
• Water heater
• Eat-in kitchen

Tags

• EAT-IN KITCHEN
• BACKYARD RETREAT
• GAS GRILL HOOKUP
• BUILT-IN HALLWAY SHELVING
• NEWER ROOF
• WATER HEATER

Property features AI

Finance

• Other: Living area 1,410 (968 above grade, 492 below grade)

Exterior

• Parking: 2-car garage; Off-street parking
• Utilities: Public water; Public sewer; Electric: Other; Sewer connected; Water connected
• Home design: Single family residence; Private ownership; One level
• Construction: Vinyl siding; Shingle roof
• Exterior features: Patio; Back yard; Few trees

Interior

• Kitchen: Dishwasher; Free-standing gas range; Refrigerator; Eat-in kitchen with breakfast bar
• Bedrooms: 2 bedrooms on the main level
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms (one main level, one lower level)
• Heating & cooling: Radiant heat; Central air conditioning
• Interior features: Breakfast bar; Eat-in kitchen; Partially finished full basement
• Laundry & utility: Laundry room in basement

What this means for you Summary

Snapshot

• This is a 2-bed/3.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $158 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $148k (1.1% below list).
• Recommended offer: $148k (1.1% below list) — sets the bar for 1% rule.
• Cap rate 7.6% vs local median 2.9% in Waterloo — 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 81/100 on livability (#87 in IL, #1,409 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, commute A-; Watch: amenities D, health & safety F.
• Waterloo CUSD 5 (town): math 38% / reading 46% proficiency, ranked #109 of 620 in IL (top 18%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 16% free/reduced lunch — higher-income household profile.
• Zoned schools: Waterloo High School (math 37% / reading 37%, grade F, #107 of 693 statewide, top 17%, 895 students, 0% FRL) — zoned schools average 0% FRL vs 16% district-wide (16 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 72 active listings in the ZIP; 62 units permitted in Monroe 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 $4k of value loss. Plan a longer hold.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1938 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $148,403 (1.1% below list)

Questions for the listing agent

1. Built in 1938 — 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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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.
5. 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.
6. 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: 0.99% ✗
• Cap rate: 7.55%
• Cash-on-cash: 4.50%
• DSCR: 1.20
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $182,952
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
207 Hoener Ave	0.14mi	2/1.0	980 (+1%)	2mo	$185,000	$189	82
317 Walnut St	0.30mi	2/1.0	959 (-1%)	9mo	$187,500	$196	69
212 Hoener Ave	0.16mi	2/2.0	870 (-10%)	8mo	$185,000	$213	66
611 S Market St	0.09mi	2/2.0	1,086 (+12%)	9mo	$140,000	$129	64
320 W 3rd St	0.46mi	2/3.0	1,008 (+4%)	13mo	$159,000	$158	61
209 Oak St	0.18mi	2/1.0	832 (-14%)	0mo	$198,000	$238	60
601 Stiening St	0.29mi	2/1.0	1,040 (+7%)	9mo	$189,900	$183	59
508 Stiening St	0.28mi	2/1.0	840 (-13%)	1mo	$199,900	$238	56
335 W 4th St	0.46mi	2/1.0	1,062 (+10%)	1mo	$142,500	$134	53
606 Laurel Dr	0.21mi	3/1.5 (+1)	1,092 (+13%)	6mo	$170,000	$156	53
421 S Church St	0.18mi	3/1.5 (+1)	1,110 (+15%)	6mo	$245,000	$221	51
213 S Library St	0.38mi	3/2.0 (+1)	1,070 (+10%)	12mo	$175,000	$164	46

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: -9.3%
• Equity multiple: 0.66×
• Total profit: $-14,257
• Equity at exit: $22,365

10-year hold

• IRR: 0.2%
• Equity multiple: 1.01×
• Total profit: $549
• Equity at exit: $12,969

Cash invested: $42,000 (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 62298

• Active inventory: 72
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,484 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$166 /mo · $1,988/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$312
• Net cashflow: $158

Break-even live

Break-even rent $1,284

Max offer price $150,000

Occupancy floor 84%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-18
   days on market $150,000 Coming Soon 2 DOM
2. 2026-06-17
   remarks 699-char remark
3. 2026-06-17
   listed $150,000 Coming Soon 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: $1,988 · $166/mo
• Projected year-2 tax: $2,696 · $225/mo
• Expected delta: +$709/yr (+$59/mo · 35.7%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥106°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,808
• − Mortgage interest: −$8,402
• − Property taxes: −$1,988
• − Insurance: −$750
• − Repairs & maintenance: −$1,425
• − Management: −$1,425
• − Depreciation: −$4,364
• Taxable loss: −$545
• Est. tax savings @ 24.0%: +$131
• After-tax cash flow: $2,022/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: Waterloo CUSD 5
• NCES district ID: 1741070
• Math proficiency: 38% ▼ -18.00%
• Reading proficiency: 46% ▼ -15.00%
• Median HH income: $68,468
• Composite: 37.89/100
• National rank: #4317
• State rank: #109 of 620 in IL

Livability — Waterloo

• Score: 81/100
• State rank: #87
• US rank: #1409

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waterloo, IL
• Population (ZIP): 17,907

Population outlook (Monroe County) Hauer SSP2

• Today (2025): 35,776 people
• By 2030: 36,437 · +1.8%
• By 2040: 36,967 · +3.3%
• By 2050: 36,310 · +1.5%
• By 2075: 34,133 · -4.6%
• By 2100: 28,857 · -19.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 1% Hispanic / Latino 1%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 1%
• Foreign-born: 1% · South Korea, Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Monroe

• 2024 margin: Solid R (+36.3) · D 31.0% · R 67.3% · Other 1.7%
• 2008→2024 swing: -25.6pp toward R · 2008: -10.7pp · 2024: -36.3pp
• All cycles: 2024: R+36.3 2020: R+35.7 2016: R+37.2 2012: R+26.9 2008: R+10.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -97.48%
• Current HPI: 163.6536
• 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

1 event — show timeline

• 2026-06-16 Coming Soon $150,000 MARIS as Distributed by MLS Grid

Property tax history

+2.2%/yr

Latest (2024): $1,988 · +1.3% YoY. Source: county tax records.