415 E 5th Ave · Rankin, IL 60960

$49,900

2 bd · 1.0 ba · 900 sqft · Other · 112 Days on market

0.40 ac lot $55/sqft · 34% below area Est $75k · 34% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +5.4/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0

Listing remarks MLS

Small Town living. Being sold as is/where is. Estimated information. Spacious lot. Owner will get cleaned up when it warms up. Plumbing needs attention.

Key facts

• Spacious lot
• 0.4 acre lot
• Garage

Tags

• SPACIOUS LOT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $50k.

Deal economics

• At list price, monthly cash flow is $421 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($926 rent vs $50k).
• Recommended offer: $45k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 55/100 on livability (#1,248 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-; Watch: schools F, crime F, amenities F.
• Hoopeston Area CUSD 11 (town): math 9% / reading 15% proficiency, ranked #559 of 620 in IL (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 16 active listings in the ZIP; 8 units permitted in Vermilion County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $756 of equity ($345 loan paydown + $411 appreciation (0.8% local appreciation)).
• Vermilion County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.8% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 112 days — a 9% lower offer ($45k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 18y 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.
• Current owner paid $15k; list at $50k implies a 233% gain — meaningful room to come down on a strong offer.

Recommended offer $45,409 (9.0% below list)

Questions for the listing agent

1. It's been on market 112 days. Have you received any prior offers? Is the seller open to a 9% 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 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?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.85% ✓
• Cap rate: 16.41%
• Cash-on-cash: 36.13%
• DSCR: 2.61
• GRM: 4.5

CMA / ARV

• ARV (median comp): $75,436
• List price: $49,900
• Delta: -33.85%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

0.82% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 38.3%
• Equity multiple: 2.95×
• Total profit: $27,292
• Equity at exit: $16,578

10-year hold

• IRR: 40.6%
• Equity multiple: 5.80×
• Total profit: $67,086
• Equity at exit: $21,682

Cash invested: $13,972 (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 60960

• Home prices YoY: 0.5%
• Active inventory: 16
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $926 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$28 /mo · $336/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$194
• Net cashflow: $421

Break-even live

Break-even rent $393

Max offer price $49,900

Occupancy floor 50%

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $49,900 Active 112 DOM
2. 2026-06-17
   days on market $49,900 Active 111 DOM
3. 2026-06-16
   days on market $49,900 Active 110 DOM
4. 2026-06-15
   days on market $49,900 Active 109 DOM
5. 2026-06-13
   days on market $49,900 Active 107 DOM
6. 2026-06-12
   days on market $49,900 Active 106 DOM
7. 2026-06-09
   days on market $49,900 Active 103 DOM
8. 2026-06-08
   days on market $49,900 Active 102 DOM
9. 2026-06-07
   days on market $49,900 Active 101 DOM
10. 2026-06-07
    days on market $49,900 Active 100 DOM
11. 2026-06-04
    days on market $49,900 Active 97 DOM
12. 2026-06-02
    days on market $49,900 Active 96 DOM
13. 2026-06-01
    days on market $49,900 Active 95 DOM
14. 2026-05-31
    days on market $49,900 Active 94 DOM
15. 2026-05-31
    days on market $49,900 Active 93 DOM
16. 2026-02-26
    listed $49,900 Active 158-char remark

    Show marketing remark (158 chars)

    Small Town living. Being sold as is/where is. Estimated information. Spacious lot. Owner will get cleaned up when it warms up. Plumbing needs attention.

17. 2022-03-31
    historical
18. 2008-07-18
    soldstatus $15,000
19. 2008-05-06
    listed $25,000
20. 2002-04-24
    soldstatus $13,000

ⓘ 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: $336 · $28/mo
• Projected year-2 tax: $734 · $61/mo
• Expected delta: +$398/yr (+$33/mo · 118.4%)

ⓘ 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 · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $11,107
• − Mortgage interest: −$2,795
• − Property taxes: −$336
• − Insurance: −$250
• − Repairs & maintenance: −$889
• − Management: −$889
• − Depreciation: −$1,452
• Taxable income: $4,497
• Est. tax owed @ 24.0%: −$1,079
• After-tax cash flow: $3,969/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: Hoopeston Area CUSD 11
• NCES district ID: 1719660
• Math proficiency: 9% ▼ -7.00%
• Reading proficiency: 15% ▼ -3.00%
• Median HH income: $40,897
• Composite: 10.39/100
• National rank: #9786
• State rank: #559 of 620 in IL

Livability — Rankin

• Score: 55/100
• State rank: #1248
• US rank: #23467

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rankin, IL
• Population (ZIP): 890

Population outlook (Vermilion County) Hauer SSP2

• Today (2025): 72,775 people
• By 2030: 69,235 · -4.9%
• By 2040: 62,360 · -14.3%
• By 2050: 55,539 · -23.7%
• By 2075: 40,606 · -44.2%
• By 2100: 26,985 · -62.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Hispanic / Latino 4% Two or more races 1%
• Common ancestry: Scottish 6% Romanian 4% German 2%

Political lean MEDSL · Vermilion

• 2024 margin: Solid R (+35.7) · D 31.4% · R 67.0% · Other 1.6%
• 2008→2024 swing: -36.2pp toward R · 2008: 0.6pp · 2024: -35.7pp
• All cycles: 2024: R+35.7 2020: R+32.9 2016: R+29.2 2012: R+15.7 2008: D+0.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.82%
• Current HPI: 164.2254
• 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

+283.8% since first listed

5 events — show timeline

• 2026-02-26 Listed $49,900 MRED as Distributed by MLS Grid
• 2022-03-31 Listing Removed — MRED as Distributed by MLS Grid
• 2008-07-18 Sold (MLS) $15,000 MRED as Distributed by MLS Grid
• 2008-05-06 Listed $25,000 MRED as Distributed by MLS Grid
• 2002-04-24 Sold (Public Records) $13,000 Public Records

Property tax history

-1.5%/yr

Latest (2018): $336 · -3.0% YoY. Source: county tax records.