215 W Main St · Sheldon, IL 60966

$24,900

4 bd · 1.0 ba · 1,728 sqft · SingleFamily · 30 Days on market

Built 1871 6,120 sqft lot ↓ 48% 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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 4 bedroom, 2 story home in Sheldon offers a fantastic opportunity for those looking to put their personal touch on a property. With two spacious living areas, there's plenty of room for relaxing or entertaining. You'll find a solid layout and great bones to work with. The partial basement adds extra storage or workshop potential. Whether you're an investor or a homeowner ready for a project, this fixer-upper could be transformed into something special. Sold as is. Bring your vision and make this house your own!

Key facts

• Extra storage
• Partial basement
• Workshop potential

Tags

• TWO SPACIOUS LIVING AREAS
• PARTIAL BASEMENT
• EXTRA STORAGE
• WORKSHOP POTENTIAL

Property features AI

Finance

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

Exterior

• Parking: Two owned parking spaces
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; Two-story design; Home age: 100+ years; Built before 1978
• Construction: Vinyl siding and brick construction
• Exterior features: Lot dimensions approximately 72 x 85; Lot smaller than 0.25 acre; Vinyl siding and brick exterior

Interior

• Kitchen: Kitchen on main level with ceramic tile flooring (approx. 12 x 15)
• Bedrooms: Four bedrooms (Master bedroom on main level); Bedroom sizes: 16 x 16 (master, main), 12 x 15 (main), 12 x 12 (main), 9 x 12 (second); Hardwood flooring in most bedrooms
• Flooring: Hardwood flooring in living, dining, and most bedrooms; Ceramic tile in kitchen
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Seven total rooms; Unfinished partial basement
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $25k.

Deal economics

• At list price, monthly cash flow is $839 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).
• Recommended offer: $25k (1.5% 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 $919 of equity ($172 loan paydown + $747 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 $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($25k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 5y 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: built in 1871 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $24,526 (1.5% below list)

Questions for the listing agent

1. Built in 1871 — 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 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?
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: 5.14% ✓
• Cap rate: 46.72%
• Cash-on-cash: 144.38%
• DSCR: 7.42
• GRM: 1.6

CMA / ARV

• ARV (on-the-fly): $62,208
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
320 S 5th St	0.36mi	3/1.5 (-1)	1,750 (+1%)	5mo	$40,000	$23	70
140 E Walnut St	0.33mi	4/2.0	1,656 (-4%)	9mo	$135,682	$82	66
354 N 5th St	0.17mi	3/2.0 (-1)	1,600 (-7%)	8mo	$57,100	$36	64
540 N 8th St	0.43mi	3/2.0 (-1)	1,812 (+5%)	7mo	$125,000	$69	57
240 S 6th St	0.37mi	3/2.0 (-1)	1,658 (-4%)	23mo	$30,000	$18	47
330 E Center St	0.36mi	3/1.0 (-1)	1,496 (-13%)	21mo	$22,000	$15	39

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: 9.10×
• Total profit: $56,445
• Equity at exit: $11,196

10-year hold

• IRR: —
• Equity multiple: 19.09×
• Total profit: $126,094
• Equity at exit: $17,255

Cash invested: $6,972 (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 60966

• Active inventory: 14
• Price-to-rent: 1.6×

Monthly cashflow live

• Estimated rent: $1,280 medium
• Mortgage (P&I): −$131
• Tax est. 1.5%: −$31 /mo · $374/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $839

Break-even live

Break-even rent $218

Max offer price $24,900

Occupancy floor 29%

Sensitivity live

Price	-10% $856	-5% $847	+0% $839	+5% $830	+10% $822
Rent	-10% $738	-5% $788	+0% $839	+5% $889	+10% $940
Rate	-1.0pp $851	-0.5pp $845	base $839	+0.5pp $832	+1.0pp $826

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: $6,225
• Closing costs: $747
• Reserves months: —
• Total cash needed: —

Listing history 40 events

1. 2026-06-21
   days on market $24,900 Active 30 DOM
2. 2026-06-18
   days on market $24,900 Active 28 DOM
3. 2026-06-17
   days on market $24,900 Active 27 DOM
4. 2026-06-16
   days on market $24,900 Active 26 DOM
5. 2026-06-15
   days on market $24,900 Active 25 DOM
6. 2026-06-13
   days on market $24,900 Active 23 DOM
7. 2026-06-12
   days on market $24,900 Active 22 DOM
8. 2026-06-09
   remarks 521-char remark
9. 2026-06-09
   pricedays on marketlisting id $24,900 Active 19 DOM
10. 2026-06-08
    days on market $22,600 Active 256 DOM
11. 2026-06-07
    days on market $22,600 Active 255 DOM
12. 2026-06-05
    days on market $22,600 Active 253 DOM
13. 2026-06-04
    pricedays on market $22,600 Active 251 DOM
14. 2026-06-02
    days on market $24,900 Active 250 DOM
15. 2026-06-01
    days on market $24,900 Active 249 DOM
16. 2026-05-31
    days on market $24,900 Active 248 DOM
17. 2026-05-31
    days on market $24,900 Active 247 DOM
18. 2026-05-21
    listed $24,900 Active 521-char remark

    Show marketing remark (521 chars)

    This 4 bedroom, 2 story home in Sheldon offers a fantastic opportunity for those looking to put their personal touch on a property. With two spacious living areas, there's plenty of room for relaxing or entertaining. You'll find a solid layout and great bones to work with. The partial basement adds extra storage or workshop potential. Whether you're an investor or a homeowner ready for a project, this fixer-upper could be transformed into something special. Sold as is. Bring your vision and make this house your own!

19. 2026-05-11
    price $24,900
20. 2026-03-23
    price $27,500
21. 2026-01-26
    price $29,000
22. 2025-12-27
    price $32,500
23. 2025-11-24
    price $35,000
24. 2025-10-31
    price $39,900
25. 2025-10-13
    price $44,900
26. 2025-09-25
    listed $47,500 Active
27. 2022-02-23
    status Pending
28. 2022-02-21
    historical
29. 2021-12-10
    status Active
30. 2021-12-10
    price
31. 2021-09-24
    status Pending
32. 2021-09-09
    status Active
33. 2021-09-09
    price
34. 2021-07-14
    status Pending
35. 2021-04-23
    status Pending
36. 2021-04-23
    listed New
37. 2021-04-02
    historical
38. 2021-03-31
    listed New
39. 2021-03-28
    historical
40. 2021-03-21
    listed New

ⓘ 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 ≥103°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $15,356
• − Mortgage interest: −$1,395
• − Property taxes: −$374
• − Insurance: −$124
• − Repairs & maintenance: −$1,228
• − Management: −$1,228
• − Depreciation: −$724
• Taxable income: $10,282
• Est. tax owed @ 24.0%: −$2,468
• After-tax cash flow: $7,598/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

-47.6% since first listed

23 events — show timeline

• 2026-05-21 Listed $24,900 CIBR
• 2026-05-11 Price Changed $24,900 MRED as Distributed by MLS Grid
• 2026-03-23 Price Changed $27,500 MRED as Distributed by MLS Grid
• 2026-01-26 Price Changed $29,000 MRED as Distributed by MLS Grid
• 2025-12-27 Price Changed $32,500 MRED as Distributed by MLS Grid
• 2025-11-24 Price Changed $35,000 MRED as Distributed by MLS Grid
• 2025-10-31 Price Changed $39,900 MRED as Distributed by MLS Grid
• 2025-10-13 Price Changed $44,900 MRED as Distributed by MLS Grid
• 2025-09-25 Listed $47,500 MRED as Distributed by MLS Grid
• 2022-02-23 Pending — MRED as Distributed by MLS Grid
• 2022-02-21 Listing Removed — MRED as Distributed by MLS Grid
• 2021-12-10 Relisted — MRED as Distributed by MLS Grid
• 2021-12-10 Price Changed — MRED as Distributed by MLS Grid
• 2021-09-24 Pending — MRED as Distributed by MLS Grid
• 2021-09-09 Relisted — MRED as Distributed by MLS Grid
• 2021-09-09 Price Changed — MRED as Distributed by MLS Grid
• 2021-07-14 Pending — MRED as Distributed by MLS Grid
• 2021-04-23 Pending — MRED as Distributed by MLS Grid
• 2021-04-23 Listed — MRED as Distributed by MLS Grid
• 2021-04-02 Listing Removed — MRED as Distributed by MLS Grid
• 2021-03-31 Listed — MRED as Distributed by MLS Grid
• 2021-03-28 Listing Removed — MRED as Distributed by MLS Grid
• 2021-03-21 Listed — MRED as Distributed by MLS Grid

Property tax history

-30.6%/yr

Latest (2024): $12 · -99.3% YoY. Source: county tax records.