650 W Blue St · Sheldon, IL 60966

$69,900

2 bd · 2.0 ba · 1,188 sqft · SingleFamily · 839 Days on market

Built 1957 0.25 ac lot Est $67k · 5% over

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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 +9.8/10.0
• ARV discount +5.2/15.0
• Appreciation +5.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Listing remarks MLS

This is spotless ranch on quite dead-end street, new roof, many updates in last few years. large yard with porch on front and patio on back. This is must see home.

Key facts

• 0.25 acre lot
• 2 garage spots
• Built 1957

Property features AI

Finance

• Other: Fee simple ownership
• HOA & community: No master association fee required

Exterior

• Parking: Attached garage (owned), 2 garage/total parking spaces
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; One-story
• Construction: Vinyl siding exterior; Built before 1978 (property age approx. 61–70 years)
• Exterior features: Half-acre lot (approx. 0.50–0.99 acre); Lot dimensions about 78.3 x 140; School bus service available

Interior

• Kitchen: Kitchen on the main level (approx. 12 x 17)
• Bedrooms: 2 bedrooms (both on the main level); Master bedroom on the main level
• Bathrooms: 2 full bathrooms; No tub in bath(s)
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: 4 total rooms; Crawl space basement
• Laundry & utility: Main-level laundry; Utility room on the main level (approx. 6 x 12)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $268 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $62k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#946 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.
• Milford Area PSD 124 (rural): math 30% / reading 26% proficiency, ranked #278 of 620 in IL (top 45%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 14 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 $3k of equity ($483 loan paydown + $2k appreciation (3.0% 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 (3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 839 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• 5 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.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1957 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $61,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 839 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 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.48% ✓
• Cap rate: 10.90%
• Cash-on-cash: 16.46%
• DSCR: 1.73
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $66,528
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
665 W Blue St	0.03mi	3/2.0 (+1)	1,240 (+4%)	11mo	$105,000	$85	77
495 W Concord Pl	0.22mi	3/1.0 (+1)	1,249 (+5%)	10mo	$21,500	$17	64
387 W Grove St	0.41mi	2/1.0	1,216 (+2%)	15mo	$67,500	$56	60
315 W Main St	0.37mi	2/1.0	1,056 (-11%)	1mo	$15,000	$14	60
155 E Main St	0.57mi	3/1.5 (+1)	1,216 (+2%)	21mo	$61,000	$50	45
285 E Center St	0.74mi	3/1.0 (+1)	1,056 (-11%)	10mo	$103,000	$98	29

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: 23.0%
• Equity multiple: 2.31×
• Total profit: $25,572
• Equity at exit: $31,430

10-year hold

• IRR: 23.9%
• Equity multiple: 4.43×
• Total profit: $67,165
• Equity at exit: $48,437

Cash invested: $19,572 (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 60966

• Active inventory: 14
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,037 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$155 /mo · $1,858/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$218
• Net cashflow: $268

Break-even live

Break-even rent $697

Max offer price $69,900

Occupancy floor 69%

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-04-30
   status Pending
2. 2026-01-06
   status Active
3. 2025-09-12
   historical Contingent - No Showings
4. 2025-05-20
   status Active
5. 2025-05-20
   price $69,900
6. 2025-03-26
   status Pending
7. 2024-07-12
   status Active
8. 2024-05-29
   historical
9. 2023-10-05
   listed $72,500 Active
10. 2005-09-06
    soldstatus $70,300 163-char remark

    Show marketing remark (163 chars)

    This is spotless ranch on quite dead-end street, new roof, many updates in last few years. large yard with porch on front and patio on back. This is must see home.

11. 2005-09-01
    soldstatus $70,300
12. 2005-06-30
    listed $69,900 163-char remark

    Show marketing remark (163 chars)

    This is spotless ranch on quite dead-end street, new roof, many updates in last few years. large yard with porch on front and patio on back. This is must see home.

ⓘ 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: $1,858 · $155/mo
• Projected year-2 tax: $1,858 · $155/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,439
• − Mortgage interest: −$3,915
• − Property taxes: −$1,858
• − Insurance: −$350
• − Repairs & maintenance: −$995
• − Management: −$995
• − Depreciation: −$2,033
• Taxable income: $2,292
• Est. tax owed @ 24.0%: −$550
• After-tax cash flow: $2,670/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: Milford Area PSD 124
• NCES district ID: 1701416
• Math proficiency: 30% ▲ 2.00%
• Reading proficiency: 26% ▼ -11.00%
• Median HH income: $44,333
• Composite: 24.03/100
• National rank: #7767
• State rank: #278 of 620 in IL

Livability — Sheldon

• Score: 60/100
• State rank: #946
• US rank: #18538

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sheldon, IL
• Population (ZIP): 1,554

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 (95%)
• Race & ethnicity: White 95% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Lithuanian 9% Slovak 5% Romanian 3%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

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: —
• Current HPI: —
• 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

+0.0% since first listed

12 events — show timeline

• 2026-04-30 Pending — MRED as Distributed by MLS Grid
• 2026-01-06 Relisted — MRED as Distributed by MLS Grid
• 2025-09-12 Contingent — MRED as Distributed by MLS Grid
• 2025-05-20 Relisted — MRED as Distributed by MLS Grid
• 2025-05-20 Price Changed $69,900 MRED as Distributed by MLS Grid
• 2025-03-26 Pending — MRED as Distributed by MLS Grid
• 2024-07-12 Relisted — MRED as Distributed by MLS Grid
• 2024-05-29 Listing Removed — MRED as Distributed by MLS Grid
• 2023-10-05 Listed $72,500 MRED as Distributed by MLS Grid
• 2005-09-06 Sold (MLS) $70,300 MRED as Distributed by MLS Grid
• 2005-09-01 Sold (Public Records) $70,300 Public Records
• 2005-06-30 Listed $69,900 MRED as Distributed by MLS Grid

Property tax history

+5.9%/yr

Latest (2024): $1,858 · +13.6% YoY. Source: county tax records.