155 E Concord St · Sheldon, IL 60966

$49,900

3 bd · 2.0 ba · 1,248 sqft · SingleFamily · 47 Days on market

Built 1994 7,200 sqft lot Est $64k · 22% under

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Why this score? — see what drove the A- 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 +5.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Listing remarks

Opportunity awaits at 155 E Concord St in Sheldon! This 3-bedroom, 2-bath ranch-style manufactured home offers 1,248 square feet of living space and sits on a 72x100 lot, providing a manageable footprint with room to improve and add value. Inside, you'll find a functional layout ready for transformation. Whether you're looking to renovate and resell, create a rental property, or design a home tailored to your own style, this property provides the perfect starting point. The 2-car detached garage adds valuable storage and parking space for future occupants or tenants. This home is being sold as-is and requires rehabilitation, making it ideal for investors, flippers, or buyers seeking a proje

Key facts

• 7,200 sq ft lot
• 2 garage spots
• Built 1994

Property features AI

Finance

• Financial info: Special service area: Yes
• HOA & community: No master association fee required

Exterior

• Parking: Detached garage (owned), 2 garage spaces, 2 total parking spaces
• Utilities: Public water; Septic tank sewer
• Home design: Detached single-family home; One story; Fee simple ownership
• Construction: Vinyl siding exterior; Built approximately 31–40 years ago; Not rebuilt or rehabbed
• Exterior features: Property faces within a 72 x 100 lot; Lot less than 0.25 acre; Zoned single-family

Interior

• Kitchen: Kitchen (main level), 10 x 12
• Bedrooms: Master bedroom (main level), 13 x 13, with full bath; Two additional bedrooms (main level), each 12 x 12
• Bathrooms: Two full bathrooms
• Heating & cooling: Natural gas heating; Central air; Wall unit(s) for cooling
• Interior features: Six total rooms; Crawl space basement
• Laundry & utility: Main-level laundry, 4 x 12

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $479 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $48k (3.0% 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 $2k of equity ($345 loan paydown + $1k 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 $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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.

Recommended offer $48,403 (3.0% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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. 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.
5. 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.
6. 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: 2.10% ✓
• Cap rate: 17.81%
• Cash-on-cash: 41.12%
• DSCR: 2.83
• GRM: 4.0

CMA / ARV

• ARV (on-the-fly): $63,648
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
155 E Main St	0.09mi	3/1.5	1,216 (-3%)	21mo	$61,000	$50	72
495 W Concord Pl	0.41mi	3/1.0	1,249 (+0%)	10mo	$21,500	$17	68
665 W Blue St	0.54mi	3/2.0	1,240 (-1%)	11mo	$105,000	$85	65
387 W Grove St	0.34mi	2/1.0 (-1)	1,216 (-3%)	15mo	$67,500	$56	59
245 S 6th St	0.38mi	4/1.5 (+1)	1,410 (+13%)	14mo	$72,000	$51	42

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: 46.6%
• Equity multiple: 3.61×
• Total profit: $36,523
• Equity at exit: $22,437

10-year hold

• IRR: 46.3%
• Equity multiple: 7.25×
• Total profit: $87,318
• Equity at exit: $34,578

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 60966

• Active inventory: 14
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,050 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$68 /mo · $816/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$220
• Net cashflow: $479

Break-even live

Break-even rent $444

Max offer price $49,900

Occupancy floor 49%

Sensitivity live

Price	-10% $507	-5% $493	+0% $479	+5% $465	+10% $451
Rent	-10% $396	-5% $437	+0% $479	+5% $520	+10% $562
Rate	-1.0pp $504	-0.5pp $491	base $479	+0.5pp $466	+1.0pp $453

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. 2026-06-21
   days on market $49,900 Active 47 DOM
2. 2026-06-18
   days on market $49,900 Active 45 DOM
3. 2026-06-17
   days on market $49,900 Active 44 DOM
4. 2026-06-16
   days on market $49,900 Active 43 DOM
5. 2026-06-15
   days on market $49,900 Active 42 DOM
6. 2026-06-13
   days on market $49,900 Active 40 DOM
7. 2026-06-12
   days on market $49,900 Active 39 DOM
8. 2026-06-09
   days on market $49,900 Active 36 DOM
9. 2026-06-08
   days on market $49,900 Active 35 DOM
10. 2026-06-07
    days on market $49,900 Active 34 DOM
11. 2026-06-05
    days on market $49,900 Active 32 DOM
12. 2026-06-04
    days on market $49,900 Active 30 DOM
13. 2026-06-02
    days on market $49,900 Active 29 DOM
14. 2026-06-01
    days on market $49,900 Active 28 DOM
15. 2026-05-31
    days on market $49,900 Active 27 DOM
16. 2026-05-31
    days on market $49,900 Active 26 DOM
17. 2026-05-04
    listed $49,900 Active
18. 2025-08-18
    historical
19. 2024-09-18
    price
20. 2024-07-26
    listed Active

ⓘ 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: $816 · $68/mo
• Projected year-2 tax: $975 · $81/mo
• Expected delta: +$158/yr (+$13/mo · 19.4%)

ⓘ 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 · 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: $12,596
• − Mortgage interest: −$2,795
• − Property taxes: −$816
• − Insurance: −$250
• − Repairs & maintenance: −$1,008
• − Management: −$1,008
• − Depreciation: −$1,452
• Taxable income: $5,268
• Est. tax owed @ 24.0%: −$1,264
• After-tax cash flow: $4,481/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

4 events — show timeline

• 2026-05-04 Listed $49,900 MRED as Distributed by MLS Grid
• 2025-08-18 Listing Removed — MRED as Distributed by MLS Grid
• 2024-09-18 Price Changed — MRED as Distributed by MLS Grid
• 2024-07-26 Listed — MRED as Distributed by MLS Grid

Property tax history

+5.5%/yr

Latest (2024): $816 · +7.6% YoY. Source: county tax records.