505 S Main St · Tuscola, IL 61953

$69,000

5 bd · 7.0 ba · 4,586 sqft · SingleFamily public records · 88 Days on market

Built 1896 0.51 ac lot $15/sqft · 73% below area ↓ 21% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity awaits at 505 S Main St in Tuscola. This property offers plenty of old-world charm and character and is in overall good condition, but it does need updating, making it a great opportunity for experienced investors or flippers looking to add value. With the right improvements, the home has strong potential as a renovation project or long-term investment. Located in a quiet and peaceful small-town setting with convenient access to the expressway, it offers the balance of relaxed living and accessibility. Cash or hard money only. Property is being sold as-is and the seller will make no repairs. Proof of funds is required prior to scheduling a showing.

Key facts

• Convenient access
• Good condition
• 0.51 acre lot

Tags

• GOOD CONDITION
• QUIET SMALL-TOWN SETTING
• CONVENIENT ACCESS

What this means for you Summary

Snapshot

• This is a 5-bed/7.0-bath single-family listed at $69k.

Deal economics

• At list price, monthly cash flow is $652 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $69k).
• Recommended offer: $65k (6.0% below list) — sets the bar for market timing.
• Cap rate 17.6% vs local median 4.4% in Tuscola — 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 74/100 on livability (#257 in IL, #4,735 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B+; Watch: schools D+, amenities F, commute F.
• Tuscola CUSD 301 (town): math 16% / reading 28% proficiency, ranked #380 of 620 in IL (top 61%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 20 active listings in the ZIP; 36 units permitted in Douglas County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $477 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Douglas County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 88 days — a 6% lower offer ($65k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1896 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $64,859 (6.0% below list)

Questions for the listing agent

1. It's been on market 88 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1896 — 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: 2.07% ✓
• Cap rate: 17.63%
• Cash-on-cash: 40.48%
• DSCR: 2.80
• GRM: 4.0

CMA / ARV

• ARV (median comp): $254,762
• List price: $69,000
• Delta: -72.92%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
806 E Scott St	0.56mi	5/3.5	4,006 (-13%)	14mo	$420,000	$105	27

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: 36.9%
• Equity multiple: 2.57×
• Total profit: $30,350
• Equity at exit: $10,288

10-year hold

• IRR: 43.6%
• Equity multiple: 5.14×
• Total profit: $79,966
• Equity at exit: $5,966

Cash invested: $19,320 (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 61953

• Home prices YoY: -30.6%
• Active inventory: 20
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,429 medium
• Mortgage (P&I): −$362
• Tax est. 1.5%: −$86 /mo · $1,035/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $652

Break-even live

Break-even rent $604

Max offer price $69,000

Occupancy floor 49%

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $69,000 Active 88 DOM
2. 2026-06-17
   days on market $69,000 Active 87 DOM
3. 2026-06-16
   days on market $69,000 Active 86 DOM
4. 2026-06-15
   days on market $69,000 Active 85 DOM
5. 2026-06-13
   days on market $69,000 Active 83 DOM
6. 2026-06-12
   days on market $69,000 Active 82 DOM
7. 2026-06-09
   days on market $69,000 Active 79 DOM
8. 2026-06-08
   days on market $69,000 Active 78 DOM
9. 2026-06-07
   days on market $69,000 Active 77 DOM
10. 2026-06-07
    days on market $69,000 Active 76 DOM
11. 2026-06-04
    days on market $69,000 Active 73 DOM
12. 2026-06-03
    price $69,000 Active 72 DOM
13. 2026-06-02
    days on market $90,000 Active 72 DOM
14. 2026-06-01
    days on market $90,000 Active 71 DOM
15. 2026-05-31
    days on market $90,000 Active 70 DOM
16. 2026-05-31
    days on market $90,000 Active 69 DOM
17. 2026-05-14
    price $90,000 668-char remark

    Show marketing remark (668 chars)

    Opportunity awaits at 505 S Main St in Tuscola. This property offers plenty of old-world charm and character and is in overall good condition, but it does need updating, making it a great opportunity for experienced investors or flippers looking to add value. With the right improvements, the home has strong potential as a renovation project or long-term investment. Located in a quiet and peaceful small-town setting with convenient access to the expressway, it offers the balance of relaxed living and accessibility. Cash or hard money only. Property is being sold as-is and the seller will make no repairs. Proof of funds is required prior to scheduling a showing.

18. 2026-05-04
    price $95,000 668-char remark

    Show marketing remark (668 chars)

    Opportunity awaits at 505 S Main St in Tuscola. This property offers plenty of old-world charm and character and is in overall good condition, but it does need updating, making it a great opportunity for experienced investors or flippers looking to add value. With the right improvements, the home has strong potential as a renovation project or long-term investment. Located in a quiet and peaceful small-town setting with convenient access to the expressway, it offers the balance of relaxed living and accessibility. Cash or hard money only. Property is being sold as-is and the seller will make no repairs. Proof of funds is required prior to scheduling a showing.

19. 2026-04-28
    price $97,000 668-char remark

    Show marketing remark (668 chars)

    Opportunity awaits at 505 S Main St in Tuscola. This property offers plenty of old-world charm and character and is in overall good condition, but it does need updating, making it a great opportunity for experienced investors or flippers looking to add value. With the right improvements, the home has strong potential as a renovation project or long-term investment. Located in a quiet and peaceful small-town setting with convenient access to the expressway, it offers the balance of relaxed living and accessibility. Cash or hard money only. Property is being sold as-is and the seller will make no repairs. Proof of funds is required prior to scheduling a showing.

20. 2026-04-19
    price $99,000 668-char remark

    Show marketing remark (668 chars)

    Opportunity awaits at 505 S Main St in Tuscola. This property offers plenty of old-world charm and character and is in overall good condition, but it does need updating, making it a great opportunity for experienced investors or flippers looking to add value. With the right improvements, the home has strong potential as a renovation project or long-term investment. Located in a quiet and peaceful small-town setting with convenient access to the expressway, it offers the balance of relaxed living and accessibility. Cash or hard money only. Property is being sold as-is and the seller will make no repairs. Proof of funds is required prior to scheduling a showing.

21. 2026-04-04
    price $109,000 668-char remark

    Show marketing remark (668 chars)

    Opportunity awaits at 505 S Main St in Tuscola. This property offers plenty of old-world charm and character and is in overall good condition, but it does need updating, making it a great opportunity for experienced investors or flippers looking to add value. With the right improvements, the home has strong potential as a renovation project or long-term investment. Located in a quiet and peaceful small-town setting with convenient access to the expressway, it offers the balance of relaxed living and accessibility. Cash or hard money only. Property is being sold as-is and the seller will make no repairs. Proof of funds is required prior to scheduling a showing.

22. 2026-03-30
    price $114,000 668-char remark

    Show marketing remark (668 chars)

    Opportunity awaits at 505 S Main St in Tuscola. This property offers plenty of old-world charm and character and is in overall good condition, but it does need updating, making it a great opportunity for experienced investors or flippers looking to add value. With the right improvements, the home has strong potential as a renovation project or long-term investment. Located in a quiet and peaceful small-town setting with convenient access to the expressway, it offers the balance of relaxed living and accessibility. Cash or hard money only. Property is being sold as-is and the seller will make no repairs. Proof of funds is required prior to scheduling a showing.

23. 2026-03-22
    listed $114,500 Active 668-char remark

    Show marketing remark (668 chars)

    Opportunity awaits at 505 S Main St in Tuscola. This property offers plenty of old-world charm and character and is in overall good condition, but it does need updating, making it a great opportunity for experienced investors or flippers looking to add value. With the right improvements, the home has strong potential as a renovation project or long-term investment. Located in a quiet and peaceful small-town setting with convenient access to the expressway, it offers the balance of relaxed living and accessibility. Cash or hard money only. Property is being sold as-is and the seller will make no repairs. Proof of funds is required prior to scheduling a showing.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥106°F today · 19 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,143
• − Mortgage interest: −$3,865
• − Property taxes: −$1,035
• − Insurance: −$345
• − Repairs & maintenance: −$1,371
• − Management: −$1,371
• − Depreciation: −$2,007
• Taxable income: $7,148
• Est. tax owed @ 24.0%: −$1,715
• After-tax cash flow: $6,105/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: Tuscola CUSD 301
• NCES district ID: 1739600
• Math proficiency: 16% ▼ -6.00%
• Reading proficiency: 28% ▼ -18.00%
• Median HH income: $50,982
• Composite: 19.62/100
• National rank: #8748
• State rank: #380 of 620 in IL

Livability — Tuscola

• Score: 74/100
• State rank: #257
• US rank: #4735

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tuscola, IL
• Population (ZIP): 6,439

Population outlook (Douglas County) Hauer SSP2

• Today (2025): 19,209 people
• By 2030: 18,940 · -1.4%
• By 2040: 18,397 · -4.2%
• By 2050: 17,829 · -7.2%
• By 2075: 16,395 · -14.6%
• By 2100: 14,329 · -25.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 3% Black 2%
• Common ancestry: Italian 3% Slovak 2% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 92% English-only · German/W. Germanic 6% Other Indo-European 1% Spanish 1%

Political lean MEDSL · Douglas

• 2024 margin: Solid R (+46.1) · D 26.1% · R 72.3% · Other 1.6%
• 2008→2024 swing: -24.9pp toward R · 2008: -21.3pp · 2024: -46.1pp
• All cycles: 2024: R+46.1 2020: R+44.4 2016: R+46.3 2012: R+36.8 2008: R+21.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -84.74%
• Current HPI: 192.1209
• 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

-21.4% since first listed

7 events — show timeline

• 2026-05-14 Price Changed $90,000 MRED as Distributed by MLS Grid
• 2026-05-04 Price Changed $95,000 MRED as Distributed by MLS Grid
• 2026-04-28 Price Changed $97,000 MRED as Distributed by MLS Grid
• 2026-04-19 Price Changed $99,000 MRED as Distributed by MLS Grid
• 2026-04-04 Price Changed $109,000 MRED as Distributed by MLS Grid
• 2026-03-30 Price Changed $114,000 MRED as Distributed by MLS Grid
• 2026-03-22 Listed $114,500 MRED as Distributed by MLS Grid

Property tax history

+3.7%/yr

Latest (2024): $4,815 · +9.4% YoY. Source: county tax records.