506 State St · Windsor, IL 61465

$59,000

2 bd · 1.0 ba · 708 sqft · Other · 150 Days on market

Built 1883 0.31 ac lot $83/sqft · 16% above area Est $51k · 16% over ↓ 9% 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
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• Appreciation +6.9/10.0
• Livability +3.1/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.5/15.0

Listing remarks MLS

GREAT INVESTMENT! 2 Bedroom features 1 BR on main & 1 upstairs; Large walkin pantry. Large lot Water Heater Nov. 2025; NK of ages Furnace & CA; Main fl. Laundry w/electric dryer hookup. Close to banking, convenience store, gymnastics and eateries.

Key facts

• Large lot
• Large walkin pantry
• Main fl laundry

Tags

• LARGE WALKIN PANTRY
• LARGE LOT
• MAIN FL LAUNDRY

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $59k.

Deal economics

• At list price, monthly cash flow is $229 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($823 rent vs $59k).
• Recommended offer: $52k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#847 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: schools F, amenities F, commute F.
• Sherrard CUSD 200 (rural): math 29% / reading 30% proficiency, ranked #240 of 620 in IL (top 39%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 7 active listings in the ZIP; 15 units permitted in Mercer County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($408 loan paydown + $2k appreciation (3.8% local appreciation)).
• Mercer County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.8% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 150 days — a 12% lower offer ($52k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1883 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $51,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 150 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 1883 — 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 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?
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: 1.39% ✓
• Cap rate: 10.94%
• Cash-on-cash: 16.61%
• DSCR: 1.74
• GRM: 6.0

CMA / ARV

• ARV (median comp): $51,029
• List price: $59,000
• Delta: 15.62%
• Verdict: OVERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

3.81% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.8%
• Equity multiple: 2.47×
• Total profit: $24,254
• Equity at exit: $29,255

10-year hold

• IRR: 24.9%
• Equity multiple: 4.81×
• Total profit: $62,908
• Equity at exit: $47,331

Cash invested: $16,520 (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 61465

• Home prices YoY: 3.6%
• Active inventory: 7
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $823 medium
• Mortgage (P&I): −$309
• Tax from tax record: −$87 /mo · $1,046/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$173
• Net cashflow: $229

Break-even live

Break-even rent $533

Max offer price $59,000

Occupancy floor 67%

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: $14,750
• Closing costs: $1,770
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $59,000 Active 150 DOM
2. 2026-06-17
   days on market $59,000 Active 149 DOM
3. 2026-06-16
   days on market $59,000 Active 148 DOM
4. 2026-06-16
   remarks 277-char remark
5. 2026-06-15
   days on market $59,000 Active 147 DOM
6. 2026-06-13
   days on market $59,000 Active 145 DOM
7. 2026-06-12
   days on market $59,000 Active 144 DOM
8. 2026-06-09
   days on market $59,000 Active 141 DOM
9. 2026-06-08
   days on market $59,000 Active 140 DOM
10. 2026-06-07
    days on market $59,000 Active 139 DOM
11. 2026-06-07
    days on market $59,000 Active 138 DOM
12. 2026-06-04
    days on market $59,000 Active 135 DOM
13. 2026-06-02
    days on market $59,000 Active 134 DOM
14. 2026-06-01
    days on market $59,000 Active 133 DOM
15. 2026-05-31
    days on market $59,000 Active 132 DOM
16. 2026-05-31
    days on market $59,000 Active 131 DOM
17. 2026-03-16
    price $59,000 256-char remark

    Show marketing remark (256 chars)

    GREAT INVESTMENT! 2 Bedroom features 1 BR on main & 1 upstairs; Large walkin pantry. Large lot Water Heater Nov. 2025; NK of ages Furnace & CA; Main fl. Laundry w/electric dryer hookup. Close to banking, convenience store, gymnastics and eateries.

18. 2026-01-19
    listed $65,000 Active 256-char remark

    Show marketing remark (256 chars)

    GREAT INVESTMENT! 2 Bedroom features 1 BR on main & 1 upstairs; Large walkin pantry. Large lot Water Heater Nov. 2025; NK of ages Furnace & CA; Main fl. Laundry w/electric dryer hookup. Close to banking, convenience store, gymnastics and eateries.

19. 2021-08-06
    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: $1,046 · $87/mo
• Projected year-2 tax: $1,193 · $99/mo
• Expected delta: +$147/yr (+$12/mo · 14.0%)

ⓘ 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 ≥104°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: $9,871
• − Mortgage interest: −$3,305
• − Property taxes: −$1,046
• − Insurance: −$295
• − Repairs & maintenance: −$790
• − Management: −$790
• − Depreciation: −$1,716
• Taxable income: $1,929
• Est. tax owed @ 24.0%: −$463
• After-tax cash flow: $2,281/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: Sherrard CUSD 200
• NCES district ID: 1736180
• Math proficiency: 29% ▼ -9.00%
• Reading proficiency: 30% ▼ -16.00%
• Median HH income: $60,194
• Composite: 26.77/100
• National rank: #7129
• State rank: #240 of 620 in IL

Livability — Windsor

• Score: 62/100
• State rank: #847
• US rank: #16662

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Windsor, IL
• Population (ZIP): 1,251

Population outlook (Mercer County) Hauer SSP2

• Today (2025): 14,595 people
• By 2030: 13,846 · -5.1%
• By 2040: 12,335 · -15.5%
• By 2050: 10,893 · -25.4%
• By 2075: 8,238 · -43.6%
• By 2100: 6,111 · -58.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 8% Hispanic / Latino 4%
• Common ancestry: English 5% Serbian 1% Portuguese 1%
• Foreign-born: 0%
• Languages at home: 98% English-only · Other Asian/Pacific 2%

Political lean MEDSL · Mercer

• 2024 margin: Strong R (+27.1) · D 35.4% · R 62.5% · Other 2.2%
• 2008→2024 swing: -39.0pp toward R · 2008: 11.9pp · 2024: -27.1pp
• All cycles: 2024: R+27.1 2020: R+24.0 2016: R+20.7 2012: D+7.4 2008: D+11.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.81%
• Current HPI: 108.3507
• 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

-9.2% since first listed

3 events — show timeline

• 2026-03-16 Price Changed $59,000 MRED as Distributed by MLS Grid
• 2026-01-19 Listed $65,000 MRED as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid

Property tax history

+3.6%/yr

Latest (2024): $1,046 · +9.9% YoY. Source: county tax records.