215 W Garfield St · Kewanee, IL 61443

$109,900

2 bd · 1.0 ba · 2,282 sqft · Other public records

Built 1966 0.29 ac lot ↓ 23% since listing

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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 +15.5/30.0
• ARV discount +7.5/15.0
• 1% rule +4.8/10.0
• DSCR +4.8/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks

One owner home in great Wethersfield location! All on one floor 2-bedroom home close to Windmont Park. Newer roof (2022), gutters and gutter guards. Hardwood floors throughout. Living room has beautiful gas fireplace. Large kitchen with lots of cabinets and appliances that stay (gas stove new 2024). Large family room in basement with bar which includes 4 bar stools and "beverage" refrigerator. Full bathroom and laundry room including the washer/dryer that stay. Covered deck on the back of the home and spacious yard. 2-car detached garage with opener (no remotes). Exterior painted 2025.

Key facts

• 0.29 acre lot
• 2 garage spots
• Built 1966

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $110k.

Deal economics

• At list price, monthly cash flow is $44 ($523/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 $107k (2.4% below list).
• Recommended offer: $107k (2.4% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 8.6% in Kewanee — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 69/100 on livability (#409 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: crime D-, amenities F, commute F.
• Wethersfield CUSD 230 (town): math 16% / reading 30% proficiency, ranked #391 of 620 in IL (top 63%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Wethersfield Elem School (math 12% / reading 17%, grade F, #1,278 of 2,056 statewide, top 65%, 312 students, 0% FRL); Wethersfield Jr/Sr High School (math 22% / reading 42%, grade F, #157 of 693 statewide, top 25%, 224 students, 0% FRL) — zoned schools average 0% FRL vs 37% district-wide (37 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 39 active listings in the ZIP; 32 units permitted in Henry County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $760 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Henry County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 $85k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $107,308 (2.4% below list)

Questions for the listing agent

1. Built in 1966 — 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 F-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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. 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?
6. 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.
7. 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.
8. 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: 0.98% ✗
• Cap rate: 6.77%
• Cash-on-cash: 1.70%
• DSCR: 1.08
• GRM: 8.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -13.5%
• Equity multiple: 0.51×
• Total profit: $-14,987
• Equity at exit: $16,386

10-year hold

• IRR: -4.6%
• Equity multiple: 0.70×
• Total profit: $-9,297
• Equity at exit: $9,502

Cash invested: $30,772 (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 61443

• Active inventory: 39
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,073 medium
• Mortgage (P&I): −$576
• Tax from tax record: −$182 /mo · $2,184/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $44

Break-even live

Break-even rent $1,018

Max offer price $109,900

Occupancy floor 91%

Sensitivity live

Price	-10% $106	-5% $75	+0% $44	+5% $13	+10% $-19
Rent	-10% $-41	-5% $1	+0% $44	+5% $86	+10% $128
Rate	-1.0pp $99	-0.5pp $72	base $44	+0.5pp $15	+1.0pp $-14

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-05-24
   status Pending
2. 2026-05-24
   status Pending
3. 2026-05-22
   status Pending
4. 2026-01-13
   soldstatus $85,000
5. 2026-01-12
   soldstatus $85,000 Closed
6. 2026-01-12
   soldstatus $85,000 Closed
7. 2026-01-12
   soldstatus $85,000 Closed
8. 2026-01-12
   soldstatus $85,000 Closed
9. 2025-12-09
   status Pending
10. 2025-12-08
    historical
11. 2025-12-08
    historical
12. 2025-11-17
    listed $109,900
13. 2025-11-17
    listed Active

ⓘ 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: $2,184 · $182/mo
• Projected year-2 tax: $2,339 · $195/mo
• Expected delta: +$155/yr (+$13/mo · 7.1%)

ⓘ 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 ≥102°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,877
• − Mortgage interest: −$6,156
• − Property taxes: −$2,184
• − Insurance: −$550
• − Repairs & maintenance: −$1,030
• − Management: −$1,030
• − Depreciation: −$3,197
• Taxable loss: −$1,270
• Est. tax savings @ 24.0%: +$305
• After-tax cash flow: $828/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: Wethersfield CUSD 230
• NCES district ID: 1742060
• Math proficiency: 16% ▼ -10.00%
• Reading proficiency: 30% ▼ -11.00%
• Median HH income: $38,899
• Composite: 19.29/100
• National rank: #8800
• State rank: #391 of 620 in IL

Livability — Kewanee

• Score: 69/100
• State rank: #409
• US rank: #8423

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kewanee, IL
• Population (ZIP): 13,529

Population outlook (Henry County) Hauer SSP2

• Today (2025): 47,376 people
• By 2030: 45,920 · -3.1%
• By 2040: 42,829 · -9.6%
• By 2050: 39,606 · -16.4%
• By 2075: 31,848 · -32.8%
• By 2100: 23,503 · -50.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Hispanic / Latino 11% Black 6% Two or more races 5%
• Hispanic origin (detail): Mexican 9% Puerto Rican 1%
• Common ancestry: Romanian 4% English 3% Italian 3%
• Foreign-born: 3% · Canada
• Languages at home: 92% English-only · Spanish 7%

Political lean MEDSL · Henry

• 2024 margin: Strong R (+24.5) · D 36.8% · R 61.3% · Other 1.9%
• 2008→2024 swing: -32.2pp toward R · 2008: 7.7pp · 2024: -24.5pp
• All cycles: 2024: R+24.5 2020: R+21.4 2016: R+21.2 2012: D+3.1 2008: D+7.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -68.32%
• Current HPI: 121.8672
• 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

-22.7% since first listed

13 events — show timeline

• 2026-05-24 Pending — MRED as Distributed by MLS Grid
• 2026-05-24 Pending — MRED as Distributed by MLS Grid
• 2026-05-22 Pending — MRED as Distributed by MLS Grid
• 2026-01-13 Sold (Public Records) $85,000 Public Records
• 2026-01-12 Sold (MLS) $85,000 MRED as Distributed by MLS Grid
• 2026-01-12 Sold (MLS) $85,000 MRED as Distributed by MLS Grid
• 2026-01-12 Sold (MLS) $85,000 MRED as Distributed by MLS Grid
• 2026-01-12 Sold (MLS) $85,000 MRED as Distributed by MLS Grid
• 2025-12-09 Pending — RMLSA as Distributed by MLS Grid
• 2025-12-08 Listing Removed — RMLSA as Distributed by MLS Grid
• 2025-12-08 Listing Removed — MRED as Distributed by MLS Grid
• 2025-11-17 Listed — RMLSA as Distributed by MLS Grid
• 2025-11-17 Listed $109,900 MRED as Distributed by MLS Grid

Property tax history

-0.1%/yr

Latest (2024): $2,184 · -2.7% YoY. Source: county tax records.