313 N 5th St · Watseka, IL 60970

$34,999

4 bd · 1.5 ba · 2,050 sqft · SingleFamily · 10 Days on market

Built 1900 7,405 sqft lot ↓ 30% since listing

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +5.7/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0

Listing remarks MLS

2 enclosed front porches, back porch, and back porch entry. Franklin stove in the living room. Features original to the home include a breakfront w/ pass throught in the dining room, built-in wardrobe in the den, french doors, oak staircase, woodwork, hardwood floors iron register covers. Furnace is 6 years old.

Key facts

• 7,405 sq ft lot
• 2 garage spots
• Built 1900

Property features AI

Finance

• Other: Living area source: assessor; Parcel number available
• HOA & community: No master association fees required

Exterior

• Parking: Detached garage; 2 garage spaces; Total parking for 4 vehicles
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; 2-story; Owned as fee simple; Built over 100 years ago; Vinyl siding; Built before 1978
• Construction: Vinyl siding exterior
• Exterior features: 50 x 150 lot; Lot smaller than 0.25 acre

Interior

• Kitchen: Kitchen on main level (16 x 20)
• Bedrooms: 4 bedrooms; Master bedroom on main level (14 x 12); Three additional bedrooms on second level (14 x 15; 14 x 14; 15 x 15)
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Natural gas heating
• Interior features: 8 total rooms; Unfinished full basement; Disability access available; Flood zone
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $388 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Cap rate 35.4% vs local median 3.5% in Watseka — 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 63/100 on livability (#811 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: schools D, amenities F, commute F.
• Iroquois County CUSD 9 (rural): math 18% / reading 35% proficiency, ranked #316 of 620 in IL (top 51%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 39 active listings in the ZIP; 14 units permitted in Iroquois County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $707 of equity ($242 loan paydown + $465 appreciation (1.3% local appreciation)).
• Iroquois County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.3% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 20y ago 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $460/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $34,999

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 3.86% ✓
• Cap rate: 35.40%
• Cash-on-cash: 103.94%
• DSCR: 5.62
• GRM: 2.2

CMA / ARV

• ARV (on-the-fly): $202,950
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
551 N 6th St	0.23mi	4/2.5	1,960 (-4%)	14mo	$150,000	$77	66
460 S Ralph St	0.59mi	3/2.0 (-1)	2,014 (-2%)	1mo	$169,000	$84	62
319 S 3rd St	0.42mi	4/2.0	1,904 (-7%)	9mo	$189,900	$100	59
426 E Locust St	0.35mi	3/2.0 (-1)	1,911 (-7%)	11mo	$190,000	$99	56
109 W Oak St	0.24mi	4/1.0	1,809 (-12%)	21mo	$30,000	$17	50
704 E Ash St	0.47mi	3/2.0 (-1)	1,820 (-11%)	7mo	$149,950	$82	47
447 S Ralph St	0.56mi	3/1.5 (-1)	1,774 (-14%)	3mo	$189,500	$107	44
704 E Sycamore St	0.48mi	3/1.0 (-1)	1,795 (-12%)	10mo	$125,000	$70	42
550 E Mulberry St	0.48mi	3/2.0 (-1)	1,824 (-11%)	14mo	$190,500	$104	41
911 E Locust St	0.73mi	4/2.0	1,754 (-14%)	2mo	$175,000	$100	38
422 S 6th St	0.48mi	3/2.0 (-1)	1,859 (-9%)	22mo	$188,000	$101	37
321 E Jefferson Ave	0.70mi	3/1.5 (-1)	2,163 (+6%)	21mo	$69,000	$32	36

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.33% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 51.0%
• Equity multiple: 3.68×
• Total profit: $26,249
• Equity at exit: $12,553

10-year hold

• IRR: 52.4%
• Equity multiple: 7.45×
• Total profit: $63,165
• Equity at exit: $17,160

Cash invested: $9,800 (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 60970

• Home prices YoY: 0.9%
• Active inventory: 39
• Price-to-rent: 2.2×

Monthly cashflow live

• Estimated rent: $1,351 medium
• Mortgage (P&I): −$184
• Tax from tax record: −$20 /mo · $242/yr
• Insurance: −$15
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $388

Break-even live

Break-even rent $859

Max offer price $34,999

Occupancy floor 66%

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-07
   statusdays on market $34,999 Pending 10 DOM
2. 2026-06-03
   days on market $34,999 Active 8 DOM
3. 2026-06-02
   days on market $34,999 Active 7 DOM
4. 2026-06-01
   days on market $34,999 Active 6 DOM
5. 2026-05-31
   days on market $34,999 Active 5 DOM
6. 2026-05-30
   days on market $34,999 Active 4 DOM
7. 2026-05-26
   listed $34,999 Active
8. 2006-10-30
   soldstatus $43,500 313-char remark

   Show marketing remark (313 chars)

   2 enclosed front porches, back porch, and back porch entry. Franklin stove in the living room. Features original to the home include a breakfront w/ pass throught in the dining room, built-in wardrobe in the den, french doors, oak staircase, woodwork, hardwood floors iron register covers. Furnace is 6 years old.

9. 2006-10-11
   historical 313-char remark

   Show marketing remark (313 chars)

   2 enclosed front porches, back porch, and back porch entry. Franklin stove in the living room. Features original to the home include a breakfront w/ pass throught in the dining room, built-in wardrobe in the den, french doors, oak staircase, woodwork, hardwood floors iron register covers. Furnace is 6 years old.

10. 2006-10-01
    soldstatus $43,500
11. 2006-09-19
    listed $49,900 313-char remark

    Show marketing remark (313 chars)

    2 enclosed front porches, back porch, and back porch entry. Franklin stove in the living room. Features original to the home include a breakfront w/ pass throught in the dining room, built-in wardrobe in the den, french doors, oak staircase, woodwork, hardwood floors iron register covers. Furnace is 6 years old.

ⓘ 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: $242 · $20/mo
• Projected year-2 tax: $518 · $43/mo
• Expected delta: +$276/yr (+$23/mo · 114.2%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone AE · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°F today · 17 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: $16,209
• − Mortgage interest: −$1,960
• − Property taxes: −$242
• − Insurance: −$5,700
• − Repairs & maintenance: −$1,297
• − Management: −$1,297
• − Depreciation: −$1,018
• Taxable income: $4,695
• Est. tax owed @ 24.0%: −$1,127
• After-tax cash flow: $3,534/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: Iroquois County CUSD 9
• NCES district ID: 1720170
• Math proficiency: 18% ▼ -12.00%
• Reading proficiency: 35% ▼ -8.00%
• Median HH income: $38,590
• Composite: 22.14/100
• National rank: #8171
• State rank: #316 of 620 in IL

Livability — Watseka

• Score: 63/100
• State rank: #811
• US rank: #15998

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Watseka, IL
• Population (ZIP): 5,965

Population outlook (Iroquois County) Hauer SSP2

• Today (2025): 26,826 people
• By 2030: 25,771 · -3.9%
• By 2040: 23,589 · -12.1%
• By 2050: 21,523 · -19.8%
• By 2075: 17,998 · -32.9%
• By 2100: 14,979 · -44.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 5% Hispanic / Latino 5% Asian 1%
• Common ancestry: Lithuanian 6% Iranian 3% Romanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2% Tagalog/Filipino 1%

Political lean MEDSL · Iroquois

• 2024 margin: Solid R (+57.3) · D 20.6% · R 78.0% · Other 1.4%
• 2008→2024 swing: -27.5pp toward R · 2008: -29.8pp · 2024: -57.3pp
• All cycles: 2024: R+57.3 2020: R+56.7 2016: R+56.0 2012: R+44.7 2008: R+29.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.33%
• Current HPI: 156.8
• 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

-29.9% since first listed

5 events — show timeline

• 2026-05-26 Listed $34,999 MRED as Distributed by MLS Grid
• 2006-10-30 Sold (MLS) $43,500 MRED as Distributed by MLS Grid
• 2006-10-11 Listing Removed — MRED as Distributed by MLS Grid
• 2006-10-01 Sold (Public Records) $43,500 Public Records
• 2006-09-19 Listed $49,900 MRED as Distributed by MLS Grid

Property tax history

-10.7%/yr

Latest (2024): $242 · -3.8% YoY. Source: county tax records.