334 S Nelson Ave · Morton, IL 61550

$153,900

2 bd · 1.0 ba · 916 sqft · SingleFamily public records · 12 Days on market

Built 1947 $168/sqft · at area comps Est $149k · at est. ↓ 10% since listing

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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 +18.4/30.0
• ARV discount +6.1/15.0
• DSCR +5.8/10.0
• Schools +4.8/10.0
• 1% rule +4.6/10.0
• Livability +4.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

MORTON SCHOOL DISTRICT! GREAT CURB APPEAL ON DEAD END STREET FOR THIS RANCH STYLE HOME WITH ATTACHED GARAGE. HOME DOES NEED SOME UPGRADES AND COSMETIC IMPROVEMENTS BUT REFLECTED IN THE PRICE INCLUDING NEEDS SOME NEW FLOORING. COULD BE WORTH MUCH MORE. GREAT INVESTMENT PROPERTY! SPACIOUS LIVING ROOM WITH LOTS OF DAYLIGHT PLUS KITCHEN LOADED WITH CABINETRY SPACE FOR STORAGE. FULL USABLE BASEMENT WITH LOADS OF STORAGE AREAS. IMMEDIATE POSSESSION. HOME SOLD IN AN ESTATE

Key facts

• Attached garage
• New flooring
• Dead end street

Tags

• MORTON SCHOOL DISTRICT
• DEAD END STREET
• RANCH STYLE HOME
• ATTACHED GARAGE
• NEW FLOORING
• SPACIOUS LIVING ROOM

Property features AI

Exterior

• Parking: Attached garage (1 car); On-street parking available
• Utilities: Public water; Public sewer
• Home design: Single family residence; Built in 1947; One-story main level with upper, lower and basement levels
• Construction: Shingle roof
• Exterior features: Shed(s); Level lot on a dead-end street

Interior

• Kitchen: Refrigerator
• Bedrooms: 2 bedrooms (both on the main level)
• Flooring: Vinyl flooring in dining room and kitchen; Other flooring in bedrooms, living room and other areas
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Cable available; Full basement
• Laundry & utility: Washer; Dryer; Laundry room in basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $154k.

Deal economics

• At list price, monthly cash flow is $143 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $147k (4.2% below list).
• Recommended offer: $147k (4.2% below list) — sets the bar for 1% rule.
• Cap rate 7.4% vs local median 2.9% in Morton — 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 86/100 on livability (#22 in IL, #419 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+; Watch: commute F.
• Morton CUSD 709 (suburban): math 48% / reading 59% proficiency, ranked #41 of 620 in IL (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 12% free/reduced lunch — higher-income household profile.
• Zoned schools: Morton Jr High School (math 46% / reading 68%, grade B, #30 of 665 statewide, top 5%, 485 students, 0% FRL); Morton High School (math 52% / reading 51%, grade D+, #38 of 693 statewide, top 6%, 1,061 students, 0% FRL).
• Market conditions: 63 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 77 units permitted in Tazewell County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Tazewell County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $147,411 (4.2% below list)

Questions for the listing agent

1. Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 0.96% ✗
• Cap rate: 7.41%
• Cash-on-cash: 3.98%
• DSCR: 1.18
• GRM: 8.7

CMA / ARV

• ARV (median comp): $149,207
• List price: $153,900
• Delta: 3.15%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
334 S Nelson Ave	0.00mi	2/1.0	916 (0%)	0mo	$148,900	$163	100
512 S Carol Ave	0.18mi	2/1.0	875 (-4%)	12mo	$156,250	$179	74
625 W Jefferson St	0.44mi	2/1.0	919 (+0%)	14mo	$157,000	$171	67
210 W Wagler St	0.35mi	2/2.0	982 (+7%)	8mo	$167,500	$171	61
605 N Main St	0.70mi	2/1.0	822 (-10%)	2mo	$172,000	$209	49
207 W Bond St	0.62mi	3/1.0 (+1)	1,040 (+14%)	10mo	$154,000	$148	36

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: -10.1%
• Equity multiple: 0.63×
• Total profit: $-15,842
• Equity at exit: $22,947

10-year hold

• IRR: -0.7%
• Equity multiple: 0.95×
• Total profit: $-2,091
• Equity at exit: $13,306

Cash invested: $43,092 (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 61550

• Active inventory: 63
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,474 medium
• Mortgage (P&I): −$807
• Tax from tax record: −$150 /mo · $1,806/yr
• Insurance: −$64
• HOA: −$0
• Vacancy / Maint / Mgmt: −$310
• Net cashflow: $143

Break-even live

Break-even rent $1,293

Max offer price $153,900

Occupancy floor 85%

Sensitivity live

Price	-10% $230	-5% $186	+0% $143	+5% $99	+10% $56
Rent	-10% $26	-5% $85	+0% $143	+5% $201	+10% $259
Rate	-1.0pp $220	-0.5pp $182	base $143	+0.5pp $103	+1.0pp $62

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: $38,475
• Closing costs: $4,617
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
514 N Main St Morton, IL	2.0	1.0	1087	$1,600	$1.47	23d	1	0.55mi
1240 S Main St Morton, IL	1.0–2.0	1.0–1.5	1000	$1,300	$1.30	15d	2	0.83mi

Listing history 3 events

1. 2026-05-12
   status Pending 471-char remark
2. 2026-05-04
   price $153,900 471-char remark
3. 2026-04-30
   listed $164,900 Active 471-char remark

ⓘ 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: $1,806 · $150/mo
• Projected year-2 tax: $2,650 · $221/mo
• Expected delta: +$844/yr (+$70/mo · 46.7%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 50% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,689
• − Mortgage interest: −$8,621
• − Property taxes: −$1,806
• − Insurance: −$770
• − Repairs & maintenance: −$1,415
• − Management: −$1,415
• − Depreciation: −$4,477
• Taxable loss: −$814
• Est. tax savings @ 24.0%: +$195
• After-tax cash flow: $1,910/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: Morton CUSD 709
• NCES district ID: 1726800
• Math proficiency: 48% ▼ -3.00%
• Reading proficiency: 59% ▼ -6.00%
• Median HH income: $71,729
• Composite: 47.72/100
• National rank: #2239
• State rank: #41 of 620 in IL

Livability — Morton

• Score: 86/100
• State rank: #22
• US rank: #419

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Morton, IL
• City population: 18,688
• Population (ZIP): 18,688

Population outlook (Tazewell County) Hauer SSP2

• Today (2025): 131,252 people
• By 2030: 128,028 · -2.5%
• By 2040: 120,443 · -8.2%
• By 2050: 111,872 · -14.8%
• By 2075: 89,843 · -31.5%
• By 2100: 66,468 · -49.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 3% Asian 3% Hispanic / Latino 2%
• Common ancestry: Italian 4% Lithuanian 3% Romanian 2%
• Foreign-born: 2% · China
• Languages at home: 97% English-only · Chinese 1% Spanish 1% Other Indo-European 1%

Political lean MEDSL · Tazewell

• 2024 margin: Strong R (+26.7) · D 35.8% · R 62.5% · Other 1.8%
• 2008→2024 swing: -20.6pp toward R · 2008: -6.0pp · 2024: -26.7pp
• All cycles: 2024: R+26.7 2020: R+25.6 2016: R+28.5 2012: R+17.9 2008: R+6.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -102.61%
• Current HPI: 159.6287
• 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

-9.7% since first listed

4 events — show timeline

• 2026-06-15 Sold (MLS) $148,900 RMLSA as Distributed by MLS Grid
• 2026-05-12 Pending — RMLSA as Distributed by MLS Grid
• 2026-05-04 Price Changed $153,900 RMLSA as Distributed by MLS Grid
• 2026-04-30 Listed $164,900 RMLSA as Distributed by MLS Grid

Property tax history

+3.6%/yr

Latest (2024): $1,806 · +31.5% YoY. Source: county tax records.