106 W South St · Bismarck, IL 61814

$20,000

3 bd · 1.0 ba · 1,150 sqft · Other · 92 Days on market

Built 1906 0.34 ac lot

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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
• Appreciation +6.5/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Listing remarks MLS

Take a look at this 3-bedroom, 1-bathroom home in Bismarck! The furnace was new in 2021, and the water heater was replaced in 2019. This house needs some TLC. It could be a great investment property or a first-time home. There is an attached laundry room and a 1-car garage. You will love the large lot. Call today to take a look!

Key facts

• All new windows
• Brand new roof
• Double lot

Tags

• BRAND NEW ROOF
• ALL NEW WINDOWS
• DOUBLE LOT

Property features AI

Finance

• Other: Property listed by Keller Williams Realty - Danville

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water; Septic tank sewer
• Home design: Single-family residence; One level / single-story
• Construction: Built with block, vinyl siding, and wood siding
• Exterior features: Asphalt roof; Road surface: Other; Lot approximately 0.34 acres

Interior

• Kitchen: No specific kitchen appliances listed
• Bedrooms: 5 total rooms (includes bedrooms and living areas)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Gas water heater; Crawl space basement
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $20k.

Deal economics

• At list price, monthly cash flow is $701 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $20k).
• Recommended offer: $18k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#844 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, crime D, amenities F.
• Bismarck Henning CUSD (rural): math 21% / reading 30% proficiency, ranked #287 of 620 in IL (top 46%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 3 active listings in the ZIP; 8 units permitted in Vermilion County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $755 of equity ($138 loan paydown + $617 appreciation (3.1% local appreciation)).
• Vermilion County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.1% appreciation + 3.0% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 92 days — a 9% lower offer ($18k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $10k (33%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1906 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $18,200 (9.0% below list)

Questions for the listing agent

1. It's been on market 92 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1906 — 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. Schools are B-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?
6. 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?
7. 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?
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: 5.31% ✓
• Cap rate: 48.33%
• Cash-on-cash: 150.14%
• DSCR: 7.68
• GRM: 1.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.08% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 9.42×
• Total profit: $47,140
• Equity at exit: $9,088

10-year hold

• IRR: —
• Equity multiple: 19.78×
• Total profit: $105,187
• Equity at exit: $14,079

Cash invested: $5,600 (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 61814

• Home prices YoY: 2.3%
• Active inventory: 3
• Price-to-rent: 1.6×

Monthly cashflow live

• Estimated rent: $1,062 medium
• Mortgage (P&I): −$105
• Tax est. 1.5%: −$25 /mo · $300/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$223
• Net cashflow: $701

Break-even live

Break-even rent $175

Max offer price $20,000

Occupancy floor 29%

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: $5,000
• Closing costs: $600
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-19
   days on market $20,000 Active 92 DOM
2. 2026-06-18
   days on market $20,000 Active 91 DOM
3. 2026-06-17
   days on market $20,000 Active 90 DOM
4. 2026-06-16
   days on market $20,000 Active 89 DOM
5. 2026-06-15
   days on market $20,000 Active 88 DOM
6. 2026-06-14
   pricedays on market $20,000 Active 86 DOM
7. 2026-06-12
   days on market $25,000 Active 85 DOM
8. 2026-06-09
   days on market $25,000 Active 82 DOM
9. 2026-06-08
   days on market $25,000 Active 81 DOM
10. 2026-06-07
    days on market $25,000 Active 80 DOM
11. 2026-06-05
    days on market $25,000 Active 77 DOM
12. 2026-06-02
    days on market $25,000 Active 75 DOM
13. 2026-06-01
    days on market $25,000 Active 74 DOM
14. 2026-05-31
    days on market $25,000 Active 73 DOM
15. 2026-05-30
    days on market $25,000 Active 72 DOM
16. 2026-04-13
    price $25,000
17. 2026-03-19
    listed $29,900 Active
18. 2022-04-28
    soldstatus $43,900 330-char remark

    Show marketing remark (330 chars)

    Take a look at this 3-bedroom, 1-bathroom home in Bismarck! The furnace was new in 2021, and the water heater was replaced in 2019. This house needs some TLC. It could be a great investment property or a first-time home. There is an attached laundry room and a 1-car garage. You will love the large lot. Call today to take a look!

19. 2022-04-28
    soldstatus $43,900 330-char remark

    Show marketing remark (330 chars)

    Take a look at this 3-bedroom, 1-bathroom home in Bismarck! The furnace was new in 2021, and the water heater was replaced in 2019. This house needs some TLC. It could be a great investment property or a first-time home. There is an attached laundry room and a 1-car garage. You will love the large lot. Call today to take a look!

20. 2022-04-28
    soldstatus $43,900

    Show marketing remark (330 chars)

    Take a look at this 3-bedroom, 1-bathroom home in Bismarck! The furnace was new in 2021, and the water heater was replaced in 2019. This house needs some TLC. It could be a great investment property or a first-time home. There is an attached laundry room and a 1-car garage. You will love the large lot. Call today to take a look!

21. 2022-03-11
    listed $43,900 330-char remark

    Show marketing remark (330 chars)

    Take a look at this 3-bedroom, 1-bathroom home in Bismarck! The furnace was new in 2021, and the water heater was replaced in 2019. This house needs some TLC. It could be a great investment property or a first-time home. There is an attached laundry room and a 1-car garage. You will love the large lot. Call today to take a look!

22. 2022-03-11
    listed $43,900 330-char remark

    Show marketing remark (330 chars)

    Take a look at this 3-bedroom, 1-bathroom home in Bismarck! The furnace was new in 2021, and the water heater was replaced in 2019. This house needs some TLC. It could be a great investment property or a first-time home. There is an attached laundry room and a 1-car garage. You will love the large lot. Call today to take a look!

23. 2011-11-21
    soldstatus $47,000
24. 2008-06-23
    soldstatus $28,000
25. 2008-04-10
    soldstatus $10,000

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 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: $12,742
• − Mortgage interest: −$1,120
• − Property taxes: −$300
• − Insurance: −$100
• − Repairs & maintenance: −$1,019
• − Management: −$1,019
• − Depreciation: −$582
• Taxable income: $8,602
• Est. tax owed @ 24.0%: −$2,064
• After-tax cash flow: $6,344/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: Bismarck Henning CUSD
• NCES district ID: 1706390
• Math proficiency: 21% ▼ -7.00%
• Reading proficiency: 30% ▼ -18.00%
• Median HH income: $61,494
• Composite: 23.54/100
• National rank: #7862
• State rank: #287 of 620 in IL

Livability — Bismarck

• Score: 62/100
• State rank: #844
• US rank: #16640

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bismarck, IL
• Population (ZIP): 1,207

Population outlook (Vermilion County) Hauer SSP2

• Today (2025): 72,775 people
• By 2030: 69,235 · -4.9%
• By 2040: 62,360 · -14.3%
• By 2050: 55,539 · -23.7%
• By 2075: 40,606 · -44.2%
• By 2100: 26,985 · -62.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 2%
• Common ancestry: Lithuanian 4% Iranian 2% Scotch-Irish 1%

Political lean MEDSL · Vermilion

• 2024 margin: Solid R (+35.7) · D 31.4% · R 67.0% · Other 1.6%
• 2008→2024 swing: -36.2pp toward R · 2008: 0.6pp · 2024: -35.7pp
• All cycles: 2024: R+35.7 2020: R+32.9 2016: R+29.2 2012: R+15.7 2008: D+0.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.08%
• Current HPI: 137.9851
• 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

+150.0% since first listed

10 events — show timeline

• 2026-04-13 Price Changed $25,000 CIBR
• 2026-03-19 Listed $29,900 CIBR
• 2022-04-28 Sold (Public Records) $43,900 Public Records
• 2022-04-28 Sold (MLS) $43,900 MRED as Distributed by MLS Grid
• 2022-04-28 Sold (MLS) $43,900 CIBR
• 2022-03-11 Listed $43,900 MRED as Distributed by MLS Grid
• 2022-03-11 Listed $43,900 CIBR
• 2011-11-21 Sold (Public Records) $47,000 Public Records
• 2008-06-23 Sold (Public Records) $28,000 Public Records
• 2008-04-10 Sold (Public Records) $10,000 Public Records

Property tax history

+9.4%/yr

Latest (2024): $1,416 · +4.9% YoY. Source: county tax records.