1133 W Boone St · Salem, IL 62881

$107,500

3 bd · 2.0 ba · 1,330 sqft · SingleFamily · 180 Days on market

Built 1967 0.35 ac lot Est $149k · 28% under

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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 +26.7/30.0
• ARV discount +15.0/15.0
• DSCR +9.2/10.0
• 1% rule +6.4/10.0
• Livability +3.4/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Ranch style home on large corner lot. Furnace AND the AC both new in 2024 Also in 2024 added new doors and sliding windows including the larger ones in living room adding natural and the extra large "escape style" sliding window in master bedroom. Oversized 2 car garage with storage and pull down attic. Ceiling fans in every room. Patio located in the fenced back yard. Wide drive for extra parking. Solar lease transfer shall be in place with new owner prior to close. Being sold AS IS

Key facts

• Sliding windows
• New doors
• Fenced back yard

Tags

• LARGE CORNER LOT
• NEW DOORS
• SLIDING WINDOWS
• EXTRA LARGE SLIDING WINDOW
• OVERSIZED GARAGE
• FENCED BACK YARD

Property features AI

Finance

• Other: Living area per assessor; Total living area reported as 1,330
• Financial info: Special service area included in tax bill

Exterior

• Parking: Attached garage (2 cars); Two total parking spaces
• Utilities: Public water; Public sewer; 100 amp electric service
• Home design: Detached single-family home; One-story layout; Fee simple ownership; Not rebuilt; Built before 1978
• Construction: Vinyl siding over frame construction; Block foundation; Approximately 51–60 years old
• Exterior features: Corner lot; Lot dimensions approximately 137 x 110

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bedrooms: Three bedrooms (all on main level); Master bedroom on main level
• Flooring: Carpet in bedrooms and living room; Laminate flooring in kitchen
• Bathrooms: Two full bathrooms; Master bathroom included
• Heating & cooling: Forced-air heating (natural gas); Solar-assisted heating; Central air conditioning
• Interior features: Egress window in basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $108k.

Deal economics

• At list price, monthly cash flow is $292 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $108k).
• Recommended offer: $95k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 5.6% in Salem — 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 68/100 on livability (#467 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D, amenities F, commute F.
• Salem Chsd 600 (town): math 25% / reading 30% proficiency, ranked #571 of 919 in IL (top 62%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 48 active listings in the ZIP; 2 units permitted in Marion County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $743 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Marion County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $30k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 180 days — a 12% lower offer ($95k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 21y 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.
• Current owner paid $77k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $94,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 180 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1967 — 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 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?
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: 1.14% ✓
• Cap rate: 9.56%
• Cash-on-cash: 11.66%
• DSCR: 1.52
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $148,960
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1409 Rig	0.12mi	3/1.0	1,326 (-0%)	9mo	$135,000	$102	83
1108 Hawthorn Rd Rd	0.08mi	3/2.0	1,434 (+8%)	6mo	$160,500	$112	78
1022 W Boone St	0.14mi	2/1.0 (-1)	1,408 (+6%)	2mo	$65,000	$46	73
437 Prairie View Dr	0.48mi	3/2.0	1,384 (+4%)	7mo	$174,000	$126	65
1201 N Franklin St	0.47mi	3/2.0	1,255 (-6%)	5mo	$160,000	$127	64
509 W Warmouth St	0.54mi	3/2.0	1,300 (-2%)	12mo	$190,000	$146	61
326 N Indiana St	0.41mi	4/1.0 (+1)	1,297 (-2%)	9mo	$145,000	$112	60
505 Schroeder Dr	0.49mi	3/2.0	1,448 (+9%)	4mo	$175,000	$121	59
732 W Lovell St	0.45mi	3/1.5	1,419 (+7%)	11mo	$140,000	$99	56
727 N Broadway Ave	0.72mi	3/1.0	1,375 (+3%)	2mo	$84,800	$62	56
441 N Ohio Ave	0.34mi	2/1.0 (-1)	1,184 (-11%)	6mo	$126,000	$106	51
1110 N Franklin St	0.48mi	3/1.5	1,521 (+14%)	2mo	$182,500	$120	50

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: 1.0%
• Equity multiple: 1.04×
• Total profit: $1,184
• Equity at exit: $16,029

10-year hold

• IRR: 10.6%
• Equity multiple: 1.83×
• Total profit: $24,926
• Equity at exit: $9,295

Cash invested: $30,100 (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 62881

• Home prices YoY: -28.0%
• Active inventory: 48
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,228 medium
• Mortgage (P&I): −$564
• Tax from tax record: −$69 /mo · $828/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $292

Break-even live

Break-even rent $858

Max offer price $107,500

Occupancy floor 71%

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: $26,875
• Closing costs: $3,225
• Reserves months: —
• Total cash needed: —

Listing history 40 events

1. 2026-06-18
   days on market $107,500 Active 180 DOM
2. 2026-06-17
   days on market $107,500 Active 179 DOM
3. 2026-06-16
   days on market $107,500 Active 178 DOM
4. 2026-06-15
   days on market $107,500 Active 177 DOM
5. 2026-06-13
   days on market $107,500 Active 175 DOM
6. 2026-06-12
   days on market $107,500 Active 174 DOM
7. 2026-06-09
   days on market $107,500 Active 171 DOM
8. 2026-06-08
   days on market $107,500 Active 170 DOM
9. 2026-06-07
   days on market $107,500 Active 169 DOM
10. 2026-06-07
    days on market $107,500 Active 168 DOM
11. 2026-06-04
    days on market $107,500 Active 165 DOM
12. 2026-06-02
    days on market $107,500 Active 164 DOM
13. 2026-06-01
    days on market $107,500 Active 163 DOM
14. 2026-05-31
    days on market $107,500 Active 162 DOM
15. 2026-05-31
    days on market $107,500 Active 161 DOM
16. 2026-05-23
    historical
17. 2026-05-21
    listed $107,500 Active
18. 2026-01-13
    price
19. 2026-01-08
    status Active
20. 2026-01-06
    historical
21. 2026-01-05
    historical
22. 2025-12-16
    price
23. 2025-11-04
    price
24. 2025-09-15
    listed Active
25. 2021-08-06
    historical
26. 2021-08-06
    historical
27. 2021-08-06
    historical
28. 2021-08-06
    historical
29. 2021-08-06
    historical
30. 2014-12-02
    historical
31. 2014-01-17
    soldstatus $77,000
32. 2014-01-17
    soldstatus $77,000
33. 2013-11-02
    listed $77,000
34. 2013-11-02
    listed $77,000
35. 2010-11-26
    historical
36. 2009-06-05
    historical
37. 2005-10-14
    soldstatus $73,000
38. 2005-07-13
    listed $76,000
39. 2005-05-28
    historical
40. 2004-11-15
    historical

ⓘ 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: $828 · $69/mo
• Projected year-2 tax: $1,634 · $136/mo
• Expected delta: +$806/yr (+$67/mo · 97.4%)

ⓘ 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 4/10 Moderate 7 d/yr ≥106°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $14,733
• − Mortgage interest: −$6,022
• − Property taxes: −$828
• − Insurance: −$538
• − Repairs & maintenance: −$1,179
• − Management: −$1,179
• − Depreciation: −$3,127
• Taxable income: $1,862
• Est. tax owed @ 24.0%: −$447
• After-tax cash flow: $3,062/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: Salem Chsd 600
• NCES district ID: 1735190
• Math proficiency: 25% ▲ 10.00%
• Reading proficiency: 30% ▲ 5.00%
• Median HH income: $39,305
• Composite: 26.04/100
• National rank: #12738
• State rank: #571 of 919 in IL

Livability — Salem

• Score: 68/100
• State rank: #467
• US rank: #9634

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Salem, IL
• City population: 11,218
• Population (ZIP): 11,218

Population outlook (Marion County) Hauer SSP2

• Today (2025): 36,071 people
• By 2030: 34,598 · -4.1%
• By 2040: 31,754 · -12.0%
• By 2050: 28,912 · -19.8%
• By 2075: 22,527 · -37.5%
• By 2100: 16,455 · -54.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Black 3% Two or more races 2%
• Common ancestry: Romanian 2% Italian 2% Iranian 2%
• Foreign-born: 1%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Marion

• 2024 margin: Solid R (+49.5) · D 24.6% · R 74.1% · Other 1.4%
• 2008→2024 swing: -47.5pp toward R · 2008: -2.0pp · 2024: -49.5pp
• All cycles: 2024: R+49.5 2020: R+46.6 2016: R+44.9 2012: R+19.2 2008: R+2.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -63.16%
• Current HPI: 162.55
• 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

+41.4% since first listed

25 events — show timeline

• 2026-05-23 Listing Removed — MRED as Distributed by MLS Grid
• 2026-05-21 Listed $107,500 MARIS as Distributed by MLS Grid
• 2026-01-13 Price Changed — MRED as Distributed by MLS Grid
• 2026-01-08 Relisted — MRED as Distributed by MLS Grid
• 2026-01-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2026-01-05 Listing Removed — MRED as Distributed by MLS Grid
• 2025-12-16 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-11-04 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-09-15 Listed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2014-12-02 Listing Removed — MRED as Distributed by MLS Grid
• 2014-01-17 Sold (MLS) $77,000 MRED as Distributed by MLS Grid
• 2014-01-17 Sold (MLS) $77,000 RMLSA as Distributed by MLS Grid
• 2013-11-02 Listed $77,000 MRED as Distributed by MLS Grid
• 2013-11-02 Listed $77,000 RMLSA as Distributed by MLS Grid
• 2010-11-26 Listing Removed — MRED as Distributed by MLS Grid
• 2009-06-05 Listing Removed — MRED as Distributed by MLS Grid
• 2005-10-14 Sold (MLS) $73,000 RMLSA as Distributed by MLS Grid
• 2005-07-13 Listed $76,000 RMLSA as Distributed by MLS Grid
• 2005-05-28 Listing Removed — MRED as Distributed by MLS Grid
• 2004-11-15 Listing Removed — MRED as Distributed by MLS Grid

Property tax history

-5.2%/yr

Latest (2024): $828 · -6.9% YoY. Source: county tax records.