411 E Mazon St · Gardner, IL 60424

$114,900

2 bd · 1.0 ba · 891 sqft · SingleFamily · 136 Days on market

0.25 ac lot Est $192k · 40% under

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Why this score? — see what drove the A 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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +9.4/10.0
• Livability +3.4/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

ATTENTION Investors and Savy buyer: This adorable cottage on a great corner lot needs a new owner. Great starter, or rental. AGGRESSIVELY PRICED TO SELL NOW!!! ~ Below market pricing and one of the lowest priced houses in a 5 mile radius! ~ Hurry this will not last at this price! ~ Brick paver patio, freshly graveled front drive, nice size storage shed and freshly updated entries on front and back. All but 3 windows have been replaced with lifetime warrantied Feldco windows. * * Needs TLC * * Needs a new roof, revamp heating system (functional but not efficient) and kitchen remodel.

Key facts

• 0.25 acre lot
• 3 parking spots
• Listed 135 days

Property features AI

Finance

• Other: Possession at closing; Holds earnest money
• HOA & community: No master association fee required

Exterior

• Parking: 3 owned parking spaces
• Utilities: Public water; Public sewer; Electric service with circuit breakers
• Home design: Detached single-family home; One-story
• Construction: Built before 1978; rehab completed in 2020; Vinyl siding; Asphalt roof; Fee simple ownership
• Exterior features: Lot dimensions approximately 70 x 150; Lot categorized as 0.25–0.49 acre; Location in the Bookwalter Woods subdivision (Unincorporated Mazon Township)

Interior

• Kitchen: Kitchen on main level with laminate flooring (approx. 8 x 15)
• Bedrooms: 2 bedrooms (both on main level); Master bedroom on main level
• Flooring: Carpet in living areas and bedrooms; Laminate in kitchen, dining room and laundry
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: 5 total rooms; Crawl space basement; Walk-in closet
• Laundry & utility: Main-level laundry room with laminate flooring (approx. 5 x 10)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $484 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $101k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#511 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Gardner S Wilmington Twp Hsd 73 (rural): math 20% / reading 30% proficiency, ranked #567 of 919 in IL (top 62%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Gardner-South Wilmington Twp H S (math 24% / reading 34%, grade F, #187 of 693 statewide, top 30%, 147 students, 0% FRL).
• Market conditions: 12 active listings in the ZIP; 84 units permitted in Grundy County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($794 loan paydown + $11k appreciation (10.0% local appreciation)).
• Grundy County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 136 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 19y ago; this cycle's ask is 121% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $44k; list at $115k implies a 164% gain — meaningful room to come down on a strong offer.

Recommended offer $101,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 136 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.44% ✓
• Cap rate: 11.35%
• Cash-on-cash: 18.06%
• DSCR: 1.80
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $191,565
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
314 N Cedar St	0.06mi	3/2.0 (+1)	1,000 (+12%)	13mo	$214,900	$215	57

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 37.7%
• Equity multiple: 3.91×
• Total profit: $93,465
• Equity at exit: $103,511

10-year hold

• IRR: 32.5%
• Equity multiple: 8.80×
• Total profit: $251,074
• Equity at exit: $223,225

Cash invested: $32,172 (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 60424

• Home prices YoY: 10.2%
• Active inventory: 12
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,659 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$176 /mo · $2,114/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$348
• Net cashflow: $484

Break-even live

Break-even rent $1,046

Max offer price $114,900

Occupancy floor 66%

Sensitivity live

Price	-10% $549	-5% $517	+0% $484	+5% $452	+10% $419
Rent	-10% $353	-5% $419	+0% $484	+5% $550	+10% $615
Rate	-1.0pp $542	-0.5pp $513	base $484	+0.5pp $454	+1.0pp $424

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: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Listing history 44 events

1. 2026-06-18
   days on market $114,900 Active 136 DOM
2. 2026-06-17
   days on market $114,900 Active 135 DOM
3. 2026-06-16
   days on market $114,900 Active 134 DOM
4. 2026-06-15
   days on market $114,900 Active 133 DOM
5. 2026-06-13
   days on market $114,900 Active 131 DOM
6. 2026-06-12
   pricedays on market $114,900 Active 130 DOM
7. 2026-06-09
   days on market $119,900 Active 127 DOM
8. 2026-06-08
   days on market $119,900 Active 126 DOM
9. 2026-06-07
   days on market $119,900 Active 125 DOM
10. 2026-06-07
    days on market $119,900 Active 124 DOM
11. 2026-06-04
    days on market $119,900 Active 121 DOM
12. 2026-06-02
    days on market $119,900 Active 120 DOM
13. 2026-06-01
    days on market $119,900 Active 119 DOM
14. 2026-05-31
    days on market $119,900 Active 118 DOM
15. 2026-05-31
    days on market $119,900 Active 117 DOM
16. 2026-05-13
    status Active
17. 2026-04-29
    historical Contingent - No Showings
18. 2026-04-09
    price $119,900
19. 2026-03-04
    price $124,900
20. 2026-01-05
    historical
21. 2025-10-06
    price
22. 2025-09-11
    price
23. 2025-08-11
    status Active
24. 2025-07-29
    historical Contingent - Continue to Show
25. 2025-07-24
    status Active
26. 2025-07-13
    historical Contingent - Continue to Show
27. 2025-07-05
    listed Active
28. 2020-11-30
    soldstatus $43,500 Closed Sale 596-char remark

    Show marketing remark (596 chars)

    ATTENTION Investors and Savy buyer: This adorable cottage on a great corner lot needs a new owner. Great starter, or rental. AGGRESSIVELY PRICED TO SELL NOW!!! ~ Below market pricing and one of the lowest priced houses in a 5 mile radius! ~ Hurry this will not last at this price! ~ Brick paver patio, freshly graveled front drive, nice size storage shed and freshly updated entries on front and back. All but 3 windows have been replaced with lifetime warrantied Feldco windows. * * Needs TLC * * Needs a new roof, revamp heating system (functional but not efficient) and kitchen remodel.

29. 2020-11-02
    status Pending 596-char remark

    Show marketing remark (596 chars)

    ATTENTION Investors and Savy buyer: This adorable cottage on a great corner lot needs a new owner. Great starter, or rental. AGGRESSIVELY PRICED TO SELL NOW!!! ~ Below market pricing and one of the lowest priced houses in a 5 mile radius! ~ Hurry this will not last at this price! ~ Brick paver patio, freshly graveled front drive, nice size storage shed and freshly updated entries on front and back. All but 3 windows have been replaced with lifetime warrantied Feldco windows. * * Needs TLC * * Needs a new roof, revamp heating system (functional but not efficient) and kitchen remodel.

30. 2020-11-02
    status Reactivated 596-char remark

    Show marketing remark (596 chars)

    ATTENTION Investors and Savy buyer: This adorable cottage on a great corner lot needs a new owner. Great starter, or rental. AGGRESSIVELY PRICED TO SELL NOW!!! ~ Below market pricing and one of the lowest priced houses in a 5 mile radius! ~ Hurry this will not last at this price! ~ Brick paver patio, freshly graveled front drive, nice size storage shed and freshly updated entries on front and back. All but 3 windows have been replaced with lifetime warrantied Feldco windows. * * Needs TLC * * Needs a new roof, revamp heating system (functional but not efficient) and kitchen remodel.

31. 2020-11-01
    historical 596-char remark

    Show marketing remark (596 chars)

    ATTENTION Investors and Savy buyer: This adorable cottage on a great corner lot needs a new owner. Great starter, or rental. AGGRESSIVELY PRICED TO SELL NOW!!! ~ Below market pricing and one of the lowest priced houses in a 5 mile radius! ~ Hurry this will not last at this price! ~ Brick paver patio, freshly graveled front drive, nice size storage shed and freshly updated entries on front and back. All but 3 windows have been replaced with lifetime warrantied Feldco windows. * * Needs TLC * * Needs a new roof, revamp heating system (functional but not efficient) and kitchen remodel.

32. 2020-10-20
    price $49,900 596-char remark

    Show marketing remark (596 chars)

    ATTENTION Investors and Savy buyer: This adorable cottage on a great corner lot needs a new owner. Great starter, or rental. AGGRESSIVELY PRICED TO SELL NOW!!! ~ Below market pricing and one of the lowest priced houses in a 5 mile radius! ~ Hurry this will not last at this price! ~ Brick paver patio, freshly graveled front drive, nice size storage shed and freshly updated entries on front and back. All but 3 windows have been replaced with lifetime warrantied Feldco windows. * * Needs TLC * * Needs a new roof, revamp heating system (functional but not efficient) and kitchen remodel.

33. 2020-09-22
    listed $51,900 New 596-char remark

    Show marketing remark (596 chars)

    ATTENTION Investors and Savy buyer: This adorable cottage on a great corner lot needs a new owner. Great starter, or rental. AGGRESSIVELY PRICED TO SELL NOW!!! ~ Below market pricing and one of the lowest priced houses in a 5 mile radius! ~ Hurry this will not last at this price! ~ Brick paver patio, freshly graveled front drive, nice size storage shed and freshly updated entries on front and back. All but 3 windows have been replaced with lifetime warrantied Feldco windows. * * Needs TLC * * Needs a new roof, revamp heating system (functional but not efficient) and kitchen remodel.

34. 2020-09-22
    historical

    Show marketing remark (596 chars)

    ATTENTION Investors and Savy buyer: This adorable cottage on a great corner lot needs a new owner. Great starter, or rental. AGGRESSIVELY PRICED TO SELL NOW!!! ~ Below market pricing and one of the lowest priced houses in a 5 mile radius! ~ Hurry this will not last at this price! ~ Brick paver patio, freshly graveled front drive, nice size storage shed and freshly updated entries on front and back. All but 3 windows have been replaced with lifetime warrantied Feldco windows. * * Needs TLC * * Needs a new roof, revamp heating system (functional but not efficient) and kitchen remodel.

35. 2020-09-10
    price
36. 2020-07-21
    price
37. 2020-05-07
    price
38. 2020-03-31
    listed New
39. 2007-12-20
    soldstatus $93,500
40. 2007-11-30
    soldstatus $93,500
41. 2007-09-17
    historical
42. 2007-08-17
    listed $99,900
43. 2005-10-07
    soldstatus $83,000
44. 1998-11-24
    soldstatus $66,500

ⓘ 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: $2,114 · $176/mo
• Projected year-2 tax: $2,361 · $197/mo
• Expected delta: +$247/yr (+$21/mo · 11.7%)

ⓘ 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 ≥103°F today · 16 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,912
• − Mortgage interest: −$6,436
• − Property taxes: −$2,114
• − Insurance: −$574
• − Repairs & maintenance: −$1,593
• − Management: −$1,593
• − Depreciation: −$3,343
• Taxable income: $4,258
• Est. tax owed @ 24.0%: −$1,022
• After-tax cash flow: $4,789/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: Gardner S Wilmington Twp Hsd 73
• NCES district ID: 1716260
• Math proficiency: 20% ▬ 0.00%
• Reading proficiency: 30% ▬ 0.00%
• Median HH income: $61,618
• Composite: 26.19/100
• National rank: #12712
• State rank: #567 of 919 in IL

Livability — Gardner

• Score: 67/100
• State rank: #511
• US rank: #10602

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gardner, IL
• Population (ZIP): 2,170

Population outlook (Grundy County) Hauer SSP2

• Today (2025): 50,716 people
• By 2030: 50,218 · -1.0%
• By 2040: 48,599 · -4.2%
• By 2050: 46,212 · -8.9%
• By 2075: 40,033 · -21.1%
• By 2100: 32,966 · -35.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 11% Two or more races 7%
• Hispanic origin (detail): Mexican 6% Puerto Rican 4%
• Common ancestry: Romanian 8% Portuguese 2% Italian 2%
• Foreign-born: 1%
• Languages at home: 96% English-only · Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Grundy

• 2024 margin: Strong R (+29.6) · D 34.5% · R 64.0% · Other 1.5%
• 2008→2024 swing: -31.3pp toward R · 2008: 1.7pp · 2024: -29.6pp
• All cycles: 2024: R+29.6 2020: R+25.8 2016: R+23.6 2012: R+9.0 2008: D+1.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 25.89%
• Current HPI: 280.24
• 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

+80.3% since first listed

29 events — show timeline

• 2026-05-13 Relisted — MRED as Distributed by MLS Grid
• 2026-04-29 Contingent — MRED as Distributed by MLS Grid
• 2026-04-09 Price Changed $119,900 MRED as Distributed by MLS Grid
• 2026-03-04 Price Changed $124,900 MRED as Distributed by MLS Grid
• 2026-01-05 Listing Removed — MRED as Distributed by MLS Grid
• 2025-10-06 Price Changed — MRED as Distributed by MLS Grid
• 2025-09-11 Price Changed — MRED as Distributed by MLS Grid
• 2025-08-11 Relisted — MRED as Distributed by MLS Grid
• 2025-07-29 Contingent — MRED as Distributed by MLS Grid
• 2025-07-24 Relisted — MRED as Distributed by MLS Grid
• 2025-07-13 Contingent — MRED as Distributed by MLS Grid
• 2025-07-05 Listed — MRED as Distributed by MLS Grid
• 2020-11-30 Sold (MLS) $43,500 MRED as Distributed by MLS Grid
• 2020-11-02 Pending — MRED as Distributed by MLS Grid
• 2020-11-02 Relisted — MRED as Distributed by MLS Grid
• 2020-11-01 Listing Removed — MRED as Distributed by MLS Grid
• 2020-10-20 Price Changed $49,900 MRED as Distributed by MLS Grid
• 2020-09-22 Listing Removed — MRED as Distributed by MLS Grid
• 2020-09-22 Listed $51,900 MRED as Distributed by MLS Grid
• 2020-09-10 Price Changed — MRED as Distributed by MLS Grid
• 2020-07-21 Price Changed — MRED as Distributed by MLS Grid
• 2020-05-07 Price Changed — MRED as Distributed by MLS Grid
• 2020-03-31 Listed — MRED as Distributed by MLS Grid
• 2007-12-20 Sold (Public Records) $93,500 Public Records
• 2007-11-30 Sold (MLS) $93,500 MRED as Distributed by MLS Grid
• 2007-09-17 Listing Removed — MRED as Distributed by MLS Grid
• 2007-08-17 Listed $99,900 MRED as Distributed by MLS Grid
• 2005-10-07 Sold (Public Records) $83,000 Public Records
• 1998-11-24 Sold (Public Records) $66,500 Public Records

Property tax history

+2.8%/yr

Latest (2024): $2,114 · +14.5% YoY. Source: county tax records.