403 W Delavan St · New Holland, IL 62671

$89,000

2 bd · 1.0 ba · 1,236 sqft · Other public records · 104 Days on market

Built 1910

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Why this score? — see what drove the C+ 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 +24.8/30.0
• DSCR +8.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• Appreciation +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0

Listing remarks MLS

This is a spacious 2 bedroom home. Family room could be easily converted to 3rd bedroom. This one needs some TLC but has lots of potential. Very large lot - nice street appeal. Property is sold "as-is" and "where-is" with no warranties expressed or implied.

Key facts

• Covered porch area
• Tiled eat-in kitchen
• Enclosed front porch

Tags

• ENCLOSED FRONT PORCH
• TILED EAT-IN KITCHEN
• EXPANSIVE LAUNDRY MUDROOM
• DETACHED GARAGE
• COVERED PORCH AREA
• VINYL REPLACEMENT WINDOWS

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Septic system
• Home design: Single-family residence; Built in 1910; Total living area approx. 1237
• Construction: Shingle roof; Crawl space and partial, unfinished basement
• Exterior features: Replacement windows; Level lot

Interior

• Kitchen: No appliances included
• Bedrooms: 2 bedrooms (both on the main level) — Bedroom 1 approx. 14 x 10, Bedroom 2 approx. 12 x 12
• Flooring: Carpet in bedrooms, living areas and laundry; Tile in kitchen and dining room
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Ceiling fan(s); Electric fireplace in the living room
• Laundry & utility: Dedicated laundry room (main level)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $89k.

Deal economics

• At list price, monthly cash flow is $188 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• Recommended offer: $81k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#767 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B+; Watch: crime D, amenities F, commute F.
• New Holland-Middletown Ed 88 (rural): math 15% / reading 25% proficiency, ranked #684 of 919 in IL (top 74%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: New Holland-Middletown Elem Sch (math 5% / reading 24%, grade F, #1,259 of 2,056 statewide, top 62%, 75 students, 0% FRL) — zoned schools average 0% FRL vs 44% district-wide (44 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 2 active listings in the ZIP; 10 units permitted in Logan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($615 loan paydown + $3k appreciation (3.0% local appreciation)).
• Logan County population projected at -11% 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 $25k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 104 days — a 9% lower offer ($81k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 17y ago; this cycle's ask has dropped $10k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $17k; list at $89k implies a 424% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $80,990 (9.0% below list)

Questions for the listing agent

1. It's been on market 104 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — 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. Crime grade is D 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?
7. 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.
8. 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.
9. 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: 1.16% ✓
• Cap rate: 8.83%
• Cash-on-cash: 9.05%
• DSCR: 1.40
• GRM: 7.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 16.0%
• Equity multiple: 1.91×
• Total profit: $22,710
• Equity at exit: $40,018

10-year hold

• IRR: 17.6%
• Equity multiple: 3.57×
• Total profit: $64,122
• Equity at exit: $61,673

Cash invested: $24,920 (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 62671

• Active inventory: 2
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,032 medium
• Mortgage (P&I): −$467
• Tax from tax record: −$124 /mo · $1,486/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$217
• Net cashflow: $188

Break-even live

Break-even rent $794

Max offer price $89,000

Occupancy floor 77%

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-18
   days on market $89,000 Active 104 DOM
2. 2026-06-17
   days on market $89,000 Active 103 DOM
3. 2026-06-16
   days on market $89,000 Active 102 DOM
4. 2026-06-15
   days on market $89,000 Active 101 DOM
5. 2026-06-13
   days on market $89,000 Active 99 DOM
6. 2026-06-12
   pricedays on market $89,000 Active 98 DOM
7. 2026-06-09
   days on market $99,000 Active 95 DOM
8. 2026-06-08
   days on market $99,000 Active 94 DOM
9. 2026-06-07
   days on market $99,000 Active 93 DOM
10. 2026-06-05
    days on market $99,000 Active 91 DOM
11. 2026-06-04
    days on market $99,000 Active 89 DOM
12. 2026-06-02
    days on market $99,000 Active 88 DOM
13. 2026-06-01
    days on market $99,000 Active 87 DOM
14. 2026-05-31
    days on market $99,000 Active 86 DOM
15. 2026-05-31
    days on market $99,000 Active 85 DOM
16. 2026-03-06
    listed $99,000 Active
17. 2012-06-28
    soldstatus $17,000
18. 2012-06-27
    soldstatus $17,000 277-char remark

    Show marketing remark (277 chars)

    This is a spacious 2 bedroom home. Family room could be easily converted to 3rd bedroom. This one needs some TLC but has lots of potential. Very large lot - nice street appeal. Property is sold "as-is" and "where-is" with no warranties expressed or implied.

19. 2012-05-03
    listed $18,900 277-char remark

    Show marketing remark (277 chars)

    This is a spacious 2 bedroom home. Family room could be easily converted to 3rd bedroom. This one needs some TLC but has lots of potential. Very large lot - nice street appeal. Property is sold "as-is" and "where-is" with no warranties expressed or implied.

20. 2009-03-23
    soldstatus $40,000
21. 2009-03-20
    soldstatus $44,800 194-char remark

    Show marketing remark (194 chars)

    OLDER HOME ON CORNER LOT. EDGE OF TOWN. HOT WATER HEAT, FIREPLACE, BUILT-INS, & FLOORED ATTIC THAT COULD BECOME A LOFT. PROPERTY HAS EXTRA 2 LOTS THAT RUN BEHIND THIS HOME-taxes on lots-$220

22. 2009-01-24
    listed $51,900 194-char remark

    Show marketing remark (194 chars)

    OLDER HOME ON CORNER LOT. EDGE OF TOWN. HOT WATER HEAT, FIREPLACE, BUILT-INS, & FLOORED ATTIC THAT COULD BECOME A LOFT. PROPERTY HAS EXTRA 2 LOTS THAT RUN BEHIND THIS HOME-taxes on lots-$220

ⓘ 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: $1,486 · $124/mo
• Projected year-2 tax: $1,753 · $146/mo
• Expected delta: +$267/yr (+$22/mo · 18.0%)

ⓘ 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 ≥106°F today · 19 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,387
• − Mortgage interest: −$4,985
• − Property taxes: −$1,486
• − Insurance: −$445
• − Repairs & maintenance: −$991
• − Management: −$991
• − Depreciation: −$2,589
• Taxable income: $900
• Est. tax owed @ 24.0%: −$216
• After-tax cash flow: $2,038/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: New Holland-Middletown Ed 88
• NCES district ID: 1700103
• Math proficiency: 15% ▲ 5.00%
• Reading proficiency: 25% ▲ 5.00%
• Median HH income: $55,706
• Composite: 21.68/100
• National rank: #13592
• State rank: #684 of 919 in IL

Livability — New Holland

• Score: 63/100
• State rank: #767
• US rank: #15390

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Holland, IL
• Population (ZIP): 472

Population outlook (Logan County) Hauer SSP2

• Today (2025): 28,066 people
• By 2030: 27,370 · -2.5%
• By 2040: 26,078 · -7.1%
• By 2050: 24,908 · -11.3%
• By 2075: 22,504 · -19.8%
• By 2100: 19,226 · -31.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 5% Native American 5% Two or more races 4%
• Common ancestry: Slovak 3% Romanian 2% Lithuanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Logan

• 2024 margin: Solid R (+41.5) · D 28.2% · R 69.8% · Other 2.0%
• 2008→2024 swing: -24.6pp toward R · 2008: -16.9pp · 2024: -41.5pp
• All cycles: 2024: R+41.5 2020: R+39.8 2016: R+40.1 2012: R+32.1 2008: R+16.9

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

+90.8% since first listed

7 events — show timeline

• 2026-03-06 Listed $99,000 RMLSA as Distributed by MLS Grid
• 2012-06-28 Sold (Public Records) $17,000 Public Records
• 2012-06-27 Sold (MLS) $17,000 RMLSA as Distributed by MLS Grid
• 2012-05-03 Listed $18,900 RMLSA as Distributed by MLS Grid
• 2009-03-23 Sold (Public Records) $40,000 Public Records
• 2009-03-20 Sold (MLS) $44,800 RMLSA as Distributed by MLS Grid
• 2009-01-24 Listed $51,900 RMLSA as Distributed by MLS Grid

Property tax history

-1.6%/yr

Latest (2024): $1,486 · +7.4% YoY. Source: county tax records.