105 W Pleasant St · Freeport, IL 61032

$29,500

6 bd · 2.0 ba · — sqft · MultiFamily · 100 Days on market

Built 1917 5,500 sqft lot ↓ 10% since listing

---

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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Need a complete rehab | 2 family unit with 3 bedrooms each unit | 8 rooms | 2 car garage | as is price to sell cash-only 6 BEDROOM 2 BATHROOM RAISED DUPLEX FOR SALE. THIS HOME NEEDS A FULL REHAB BUT IS THE BEST DEAL IN FREEPORT! LOCATED ON A NICE BLOCK WITH PEACEFUL SURROUNDINGS, THIS HOME IS READY FOR A NEW OWNER. SOLD AS-IS. THIS IS NOT A BANK SHORT SALE OR FORECLOSURE. GREAT OPPORTUNITY FOR OWNERSHIP

Key facts

• 5,500 sq ft lot
• 2 garage spots
• Built 1917

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $30k.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive. Per door: $882/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $30k).
• Recommended offer: $27k (9.0% below list) — sets the bar for market timing.
• Cap rate 78.0% vs local median 5.8% in Freeport — 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 72/100 on livability (#302 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: schools F, commute F, employment F.
• Freeport SD 145 (town): math 11% / reading 12% proficiency, ranked #565 of 620 in IL (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 197 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 7 units permitted in Stephenson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $204 of loan paydown is wiped out by about $885 of value loss. Plan a longer hold.
• Stephenson County population projected at -29% 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 $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 100 days — a 9% lower offer ($27k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $10k (26%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1917 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $26,845 (9.0% below list)

Questions for the listing agent

1. It's been on market 100 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1917 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 8.44% ✓
• Cap rate: 78.05%
• Cash-on-cash: 256.27%
• DSCR: 12.40
• GRM: 1.0

CMA / ARV

• ARV (median comp): $72,512
• List price: $29,500
• Delta: -59.32%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
108-110 E Iroquois St	0.17mi	6/2.0	—	0mo	$89,900	—	79
220-222 W Avon St	0.15mi	6/2.0	—	12mo	$111,000	—	70
910-912 S Oak Ave	0.17mi	6/2.0	—	12mo	$88,000	—	69
110-112 E Frank St	0.34mi	6/2.0	—	3mo	$125,000	—	69
428 S Carroll Ave	0.19mi	6/3.0	—	10mo	$45,000	—	67
215-215 1/2 W Homer St	0.16mi	5/2.0 (-1)	—	12mo	$37,000	—	65
328 W Douglas St	0.50mi	6/3.0	—	4mo	$104,900	—	57
418 - 420 N Van Buren Ave	0.63mi	6/2.0	—	3mo	$85,000	—	56
1108 S Carroll Ave	0.34mi	5/1.0 (-1)	—	11mo	$62,500	—	53
320-320 1/2 W Chestnut St	0.32mi	5/3.0 (-1)	—	12mo	$123,000	—	53
602 E Empire St	0.65mi	6/2.0	2,044	12mo	$99,000	$48	47
820-822 E Wyandotte St	0.67mi	6/2.0	—	12mo	$113,000	—	46

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: —
• Equity multiple: 14.03×
• Total profit: $107,609
• Equity at exit: $4,399

10-year hold

• IRR: —
• Equity multiple: 29.88×
• Total profit: $238,527
• Equity at exit: $2,551

Cash invested: $8,260 (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 61032

• Home prices YoY: -19.5%
• Active inventory: 197
• Price-to-rent: 2.0×

Monthly cashflow live

• Estimated rent: $2,491 high
• Mortgage (P&I): −$155
• Tax est. 1.5%: −$37 /mo · $442/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$523
• Net cashflow: $1,764

Break-even live

Break-even rent $258

Max offer price $29,500

Occupancy floor 24%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,492
Total (2 units)			$2,491

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: $7,375
• Closing costs: $885
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1219 1/2 S Chicago Ave Freeport, IL	5.0	2.0	2672	$1,625	$0.61	43d	1	0.35mi
1776 S Hance Dr Unit 1776 Freeport, IL	5.0	2.0	—	$1,695	—	43d	1	1.44mi

Listing history 22 events

1. 2026-06-18
   days on market $29,500 Active 100 DOM
2. 2026-06-17
   days on market $29,500 Active 99 DOM
3. 2026-06-16
   days on market $29,500 Active 98 DOM
4. 2026-06-15
   days on market $29,500 Active 97 DOM
5. 2026-06-13
   days on market $29,500 Active 95 DOM
6. 2026-06-12
   days on market $29,500 Active 94 DOM
7. 2026-06-09
   days on market $29,500 Active 91 DOM
8. 2026-06-08
   days on market $29,500 Active 90 DOM
9. 2026-06-07
   days on market $29,500 Active 89 DOM
10. 2026-06-07
    days on market $29,500 Active 88 DOM
11. 2026-06-04
    days on market $29,500 Active 85 DOM
12. 2026-06-02
    days on market $29,500 Active 84 DOM
13. 2026-06-01
    days on market $29,500 Active 83 DOM
14. 2026-05-31
    days on market $29,500 Active 82 DOM
15. 2026-05-31
    days on market $29,500 Active 81 DOM
16. 2026-03-14
    status Temporarily No Showings 414-char remark

    Show marketing remark (414 chars)

    Need a complete rehab | 2 family unit with 3 bedrooms each unit | 8 rooms | 2 car garage | as is price to sell cash-only 6 BEDROOM 2 BATHROOM RAISED DUPLEX FOR SALE. THIS HOME NEEDS A FULL REHAB BUT IS THE BEST DEAL IN FREEPORT! LOCATED ON A NICE BLOCK WITH PEACEFUL SURROUNDINGS, THIS HOME IS READY FOR A NEW OWNER. SOLD AS-IS. THIS IS NOT A BANK SHORT SALE OR FORECLOSURE. GREAT OPPORTUNITY FOR OWNERSHIP

17. 2026-03-10
    status Pending 414-char remark

    Show marketing remark (414 chars)

    Need a complete rehab | 2 family unit with 3 bedrooms each unit | 8 rooms | 2 car garage | as is price to sell cash-only 6 BEDROOM 2 BATHROOM RAISED DUPLEX FOR SALE. THIS HOME NEEDS A FULL REHAB BUT IS THE BEST DEAL IN FREEPORT! LOCATED ON A NICE BLOCK WITH PEACEFUL SURROUNDINGS, THIS HOME IS READY FOR A NEW OWNER. SOLD AS-IS. THIS IS NOT A BANK SHORT SALE OR FORECLOSURE. GREAT OPPORTUNITY FOR OWNERSHIP

18. 2026-03-10
    historical Contingent - Continue to Show 414-char remark

    Show marketing remark (414 chars)

    Need a complete rehab | 2 family unit with 3 bedrooms each unit | 8 rooms | 2 car garage | as is price to sell cash-only 6 BEDROOM 2 BATHROOM RAISED DUPLEX FOR SALE. THIS HOME NEEDS A FULL REHAB BUT IS THE BEST DEAL IN FREEPORT! LOCATED ON A NICE BLOCK WITH PEACEFUL SURROUNDINGS, THIS HOME IS READY FOR A NEW OWNER. SOLD AS-IS. THIS IS NOT A BANK SHORT SALE OR FORECLOSURE. GREAT OPPORTUNITY FOR OWNERSHIP

19. 2026-03-07
    price $35,900 414-char remark

    Show marketing remark (414 chars)

    Need a complete rehab | 2 family unit with 3 bedrooms each unit | 8 rooms | 2 car garage | as is price to sell cash-only 6 BEDROOM 2 BATHROOM RAISED DUPLEX FOR SALE. THIS HOME NEEDS A FULL REHAB BUT IS THE BEST DEAL IN FREEPORT! LOCATED ON A NICE BLOCK WITH PEACEFUL SURROUNDINGS, THIS HOME IS READY FOR A NEW OWNER. SOLD AS-IS. THIS IS NOT A BANK SHORT SALE OR FORECLOSURE. GREAT OPPORTUNITY FOR OWNERSHIP

20. 2026-03-05
    listed $39,900 Active 414-char remark

    Show marketing remark (414 chars)

    Need a complete rehab | 2 family unit with 3 bedrooms each unit | 8 rooms | 2 car garage | as is price to sell cash-only 6 BEDROOM 2 BATHROOM RAISED DUPLEX FOR SALE. THIS HOME NEEDS A FULL REHAB BUT IS THE BEST DEAL IN FREEPORT! LOCATED ON A NICE BLOCK WITH PEACEFUL SURROUNDINGS, THIS HOME IS READY FOR A NEW OWNER. SOLD AS-IS. THIS IS NOT A BANK SHORT SALE OR FORECLOSURE. GREAT OPPORTUNITY FOR OWNERSHIP

21. 2025-06-06
    historical
22. 2025-06-03
    listed Active

ⓘ 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 ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,892
• − Mortgage interest: −$1,652
• − Property taxes: −$442
• − Insurance: −$148
• − Repairs & maintenance: −$2,391
• − Management: −$2,391
• − Depreciation: −$858
• Taxable income: $22,009
• Est. tax owed @ 24.0%: −$5,282
• After-tax cash flow: $15,886/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: Freeport SD 145
• NCES district ID: 1715900
• Math proficiency: 11% ▼ -3.00%
• Reading proficiency: 12% ▼ -5.00%
• Median HH income: $39,803
• Composite: 9.89/100
• National rank: #9821
• State rank: #565 of 620 in IL

Livability — Freeport

• Score: 72/100
• State rank: #302
• US rank: #5927

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Freeport, IL
• Population (ZIP): 29,072

Population outlook (Stephenson County) Hauer SSP2

• Today (2025): 41,802 people
• By 2030: 39,487 · -5.5%
• By 2040: 34,534 · -17.4%
• By 2050: 29,693 · -29.0%
• By 2075: 21,196 · -49.3%
• By 2100: 14,596 · -65.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Black 12% Two or more races 10% Hispanic / Latino 6% Asian 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Iranian 3% Romanian 2% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3% Other Indo-European 1%

Political lean MEDSL · Stephenson

• 2024 margin: R (+19.4) · D 39.5% · R 58.9% · Other 1.6%
• 2008→2024 swing: -26.1pp toward R · 2008: 6.7pp · 2024: -19.4pp
• All cycles: 2024: R+19.4 2020: R+15.7 2016: R+17.0 2012: R+4.6 2008: D+6.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -39.75%
• Current HPI: 163.677
• 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

-10.0% since first listed

7 events — show timeline

• 2026-03-14 Relisted — MRED as Distributed by MLS Grid
• 2026-03-10 Pending — MRED as Distributed by MLS Grid
• 2026-03-10 Contingent — MRED as Distributed by MLS Grid
• 2026-03-07 Price Changed $35,900 MRED as Distributed by MLS Grid
• 2026-03-05 Listed $39,900 MRED as Distributed by MLS Grid
• 2025-06-06 Listing Removed — MRED as Distributed by MLS Grid
• 2025-06-03 Listed — MRED as Distributed by MLS Grid