7 Sycamore Bay Rd · Lacon, IL 61540

$139,000

3 bd · 1.0 ba · 1,115 sqft · SingleFamily public records · 204 Days on market

Built 1977 1.90 ac lot $125/sqft · 55% above area Est $166k · 16% under $13/mo HOA · 1% of rent ↓ 4% 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).

• ARV discount +14.9/15.0
• Cash flow +13.3/30.0
• DSCR +4.0/10.0
• Livability +3.7/5.0
• Schools +3.1/10.0
• 1% rule +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

SERENITY-Situated on a rare 1.9 Acre double lot along the backwaters of the Illinois River in Sycamore Bay, this property offers a unique blend of privacy, water views, & outdoor lifestyle—without the requirement of flood insurance. Designed for flexibility, the home features a 3-bedroom main/upper level with office & additional flex space, already plumbed for a future bathroom—giving buyers the opportunity to customize and add value. The walk-out lower level serves as the heart of the home, offering a full kitchen, spacious living & gathering area, full bathroom, and a stunning new panoramic window that captures the natural beauty of the water and surrounding landscape. This layout is ideal for those who appreciate defined living spaces—perfect for hosting, relaxing, or creating a private retreat environment separate from sleeping quarters. Recent updates include a new lower-level shower and glass door. The property extends to the water, making it especially appealing for outdoor enthusiasts, hunters, and those seeking a peaceful escape. Being sold as-is, this home has already appraised near current pricing and presents a strong opportunity for buyers looking to personalize and enhance a waterfront property with significant upside. A rare chance to own land, water, & potential—wrapped into one. Situated on the scenic bluff of Sawyer Slough, adjacent to Marshall County State Conservation Area, placing miles of hiking, ATV trails & exceptional wildlife right at your doorstep!

Key facts

• 1.9 acre lot
• Parking
• Built 1977

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $139k.

Deal economics

• At list price, monthly cash flow is $1 ($15/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $105k (24.7% below list).
• Recommended offer: $105k (24.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 73/100 on livability (#275 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools C-, employment D+, amenities F.
• Midland CUSD 7 (rural): math 24% / reading 46% proficiency, ranked #189 of 620 in IL (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 27 active listings in the ZIP; 9 units permitted in Marshall County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $961 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Marshall County population projected at -32% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 204 days — a 12% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $104,714 (24.7% below list)

Questions for the listing agent

1. It's been on market 204 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 0.75% ✗
• Cap rate: 6.30%
• Cash-on-cash: 0.04%
• DSCR: 1.00
• GRM: 11.1

CMA / ARV

• ARV (median comp): $166,210
• List price: $139,000
• Delta: -16.37%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
602 S Main St	0.68mi	2/1.0 (-1)	988 (-11%)	16mo	$54,900	$56	31
503 S Washington St	0.74mi	2/2.0 (-1)	1,225 (+10%)	14mo	$162,000	$132	28

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: -16.3%
• Equity multiple: 0.42×
• Total profit: $-22,509
• Equity at exit: $20,725

10-year hold

• IRR: -8.1%
• Equity multiple: 0.49×
• Total profit: $-19,767
• Equity at exit: $12,018

Cash invested: $38,920 (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 61540

• Home prices YoY: -27.4%
• Active inventory: 27
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $1,047 medium
• Mortgage (P&I): −$729
• Tax from tax record: −$26 /mo · $313/yr
• Insurance: −$58
• HOA: −$13
• Vacancy / Maint / Mgmt: −$220
• Net cashflow: $1

Break-even live

Break-even rent $1,046

Max offer price $139,000

Occupancy floor 95%

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $13 · $156/yr
• Likely covers: water

Listing history 9 events

1. 2026-04-24
   price $139,000 1543-char remark

   Show marketing remark (1543 chars)

   SERENITY-Situated on a rare 1.9 Acre double lot along the backwaters of the Illinois River in Sycamore Bay, this property offers a unique blend of privacy, water views, & outdoor lifestyle—without the requirement of flood insurance. Designed for flexibility, the home features a 3-bedroom main/upper level with office & additional flex space, already plumbed for a future bathroom—giving buyers the opportunity to customize and add value. The walk-out lower level serves as the heart of the home, offering a full kitchen, spacious living & gathering area, full bathroom, and a stunning new panoramic window that captures the natural beauty of the water and surrounding landscape. This layout is ideal for those who appreciate defined living spaces—perfect for hosting, relaxing, or creating a private retreat environment separate from sleeping quarters. Recent updates include a new lower-level shower and glass door. The property extends to the water, making it especially appealing for outdoor enthusiasts, hunters, and those seeking a peaceful escape. Being sold as-is, this home has already appraised near current pricing and presents a strong opportunity for buyers looking to personalize and enhance a waterfront property with significant upside. A rare chance to own land, water, & potential—wrapped into one. Situated on the scenic bluff of Sawyer Slough, adjacent to Marshall County State Conservation Area, placing miles of hiking, ATV trails & exceptional wildlife right at your doorstep!

2. 2026-04-13
   price $144,000 1543-char remark

   Show marketing remark (1543 chars)

   SERENITY-Situated on a rare 1.9 Acre double lot along the backwaters of the Illinois River in Sycamore Bay, this property offers a unique blend of privacy, water views, & outdoor lifestyle—without the requirement of flood insurance. Designed for flexibility, the home features a 3-bedroom main/upper level with office & additional flex space, already plumbed for a future bathroom—giving buyers the opportunity to customize and add value. The walk-out lower level serves as the heart of the home, offering a full kitchen, spacious living & gathering area, full bathroom, and a stunning new panoramic window that captures the natural beauty of the water and surrounding landscape. This layout is ideal for those who appreciate defined living spaces—perfect for hosting, relaxing, or creating a private retreat environment separate from sleeping quarters. Recent updates include a new lower-level shower and glass door. The property extends to the water, making it especially appealing for outdoor enthusiasts, hunters, and those seeking a peaceful escape. Being sold as-is, this home has already appraised near current pricing and presents a strong opportunity for buyers looking to personalize and enhance a waterfront property with significant upside. A rare chance to own land, water, & potential—wrapped into one. Situated on the scenic bluff of Sawyer Slough, adjacent to Marshall County State Conservation Area, placing miles of hiking, ATV trails & exceptional wildlife right at your doorstep!

3. 2026-01-21
   status Active 1543-char remark

   Show marketing remark (1543 chars)

   SERENITY-Situated on a rare 1.9 Acre double lot along the backwaters of the Illinois River in Sycamore Bay, this property offers a unique blend of privacy, water views, & outdoor lifestyle—without the requirement of flood insurance. Designed for flexibility, the home features a 3-bedroom main/upper level with office & additional flex space, already plumbed for a future bathroom—giving buyers the opportunity to customize and add value. The walk-out lower level serves as the heart of the home, offering a full kitchen, spacious living & gathering area, full bathroom, and a stunning new panoramic window that captures the natural beauty of the water and surrounding landscape. This layout is ideal for those who appreciate defined living spaces—perfect for hosting, relaxing, or creating a private retreat environment separate from sleeping quarters. Recent updates include a new lower-level shower and glass door. The property extends to the water, making it especially appealing for outdoor enthusiasts, hunters, and those seeking a peaceful escape. Being sold as-is, this home has already appraised near current pricing and presents a strong opportunity for buyers looking to personalize and enhance a waterfront property with significant upside. A rare chance to own land, water, & potential—wrapped into one. Situated on the scenic bluff of Sawyer Slough, adjacent to Marshall County State Conservation Area, placing miles of hiking, ATV trails & exceptional wildlife right at your doorstep!

4. 2026-01-21
   price $145,000 1543-char remark

   Show marketing remark (1543 chars)

   SERENITY-Situated on a rare 1.9 Acre double lot along the backwaters of the Illinois River in Sycamore Bay, this property offers a unique blend of privacy, water views, & outdoor lifestyle—without the requirement of flood insurance. Designed for flexibility, the home features a 3-bedroom main/upper level with office & additional flex space, already plumbed for a future bathroom—giving buyers the opportunity to customize and add value. The walk-out lower level serves as the heart of the home, offering a full kitchen, spacious living & gathering area, full bathroom, and a stunning new panoramic window that captures the natural beauty of the water and surrounding landscape. This layout is ideal for those who appreciate defined living spaces—perfect for hosting, relaxing, or creating a private retreat environment separate from sleeping quarters. Recent updates include a new lower-level shower and glass door. The property extends to the water, making it especially appealing for outdoor enthusiasts, hunters, and those seeking a peaceful escape. Being sold as-is, this home has already appraised near current pricing and presents a strong opportunity for buyers looking to personalize and enhance a waterfront property with significant upside. A rare chance to own land, water, & potential—wrapped into one. Situated on the scenic bluff of Sawyer Slough, adjacent to Marshall County State Conservation Area, placing miles of hiking, ATV trails & exceptional wildlife right at your doorstep!

5. 2026-01-02
   status Pending 1543-char remark

   Show marketing remark (1543 chars)

   SERENITY-Situated on a rare 1.9 Acre double lot along the backwaters of the Illinois River in Sycamore Bay, this property offers a unique blend of privacy, water views, & outdoor lifestyle—without the requirement of flood insurance. Designed for flexibility, the home features a 3-bedroom main/upper level with office & additional flex space, already plumbed for a future bathroom—giving buyers the opportunity to customize and add value. The walk-out lower level serves as the heart of the home, offering a full kitchen, spacious living & gathering area, full bathroom, and a stunning new panoramic window that captures the natural beauty of the water and surrounding landscape. This layout is ideal for those who appreciate defined living spaces—perfect for hosting, relaxing, or creating a private retreat environment separate from sleeping quarters. Recent updates include a new lower-level shower and glass door. The property extends to the water, making it especially appealing for outdoor enthusiasts, hunters, and those seeking a peaceful escape. Being sold as-is, this home has already appraised near current pricing and presents a strong opportunity for buyers looking to personalize and enhance a waterfront property with significant upside. A rare chance to own land, water, & potential—wrapped into one. Situated on the scenic bluff of Sawyer Slough, adjacent to Marshall County State Conservation Area, placing miles of hiking, ATV trails & exceptional wildlife right at your doorstep!

6. 2025-11-29
   price $139,900 1543-char remark

   Show marketing remark (1543 chars)

   SERENITY-Situated on a rare 1.9 Acre double lot along the backwaters of the Illinois River in Sycamore Bay, this property offers a unique blend of privacy, water views, & outdoor lifestyle—without the requirement of flood insurance. Designed for flexibility, the home features a 3-bedroom main/upper level with office & additional flex space, already plumbed for a future bathroom—giving buyers the opportunity to customize and add value. The walk-out lower level serves as the heart of the home, offering a full kitchen, spacious living & gathering area, full bathroom, and a stunning new panoramic window that captures the natural beauty of the water and surrounding landscape. This layout is ideal for those who appreciate defined living spaces—perfect for hosting, relaxing, or creating a private retreat environment separate from sleeping quarters. Recent updates include a new lower-level shower and glass door. The property extends to the water, making it especially appealing for outdoor enthusiasts, hunters, and those seeking a peaceful escape. Being sold as-is, this home has already appraised near current pricing and presents a strong opportunity for buyers looking to personalize and enhance a waterfront property with significant upside. A rare chance to own land, water, & potential—wrapped into one. Situated on the scenic bluff of Sawyer Slough, adjacent to Marshall County State Conservation Area, placing miles of hiking, ATV trails & exceptional wildlife right at your doorstep!

7. 2025-11-14
   price $142,500 1543-char remark

   Show marketing remark (1543 chars)

   SERENITY-Situated on a rare 1.9 Acre double lot along the backwaters of the Illinois River in Sycamore Bay, this property offers a unique blend of privacy, water views, & outdoor lifestyle—without the requirement of flood insurance. Designed for flexibility, the home features a 3-bedroom main/upper level with office & additional flex space, already plumbed for a future bathroom—giving buyers the opportunity to customize and add value. The walk-out lower level serves as the heart of the home, offering a full kitchen, spacious living & gathering area, full bathroom, and a stunning new panoramic window that captures the natural beauty of the water and surrounding landscape. This layout is ideal for those who appreciate defined living spaces—perfect for hosting, relaxing, or creating a private retreat environment separate from sleeping quarters. Recent updates include a new lower-level shower and glass door. The property extends to the water, making it especially appealing for outdoor enthusiasts, hunters, and those seeking a peaceful escape. Being sold as-is, this home has already appraised near current pricing and presents a strong opportunity for buyers looking to personalize and enhance a waterfront property with significant upside. A rare chance to own land, water, & potential—wrapped into one. Situated on the scenic bluff of Sawyer Slough, adjacent to Marshall County State Conservation Area, placing miles of hiking, ATV trails & exceptional wildlife right at your doorstep!

8. 2025-10-16
   listed $145,000 Active 1543-char remark

   Show marketing remark (1543 chars)

   SERENITY-Situated on a rare 1.9 Acre double lot along the backwaters of the Illinois River in Sycamore Bay, this property offers a unique blend of privacy, water views, & outdoor lifestyle—without the requirement of flood insurance. Designed for flexibility, the home features a 3-bedroom main/upper level with office & additional flex space, already plumbed for a future bathroom—giving buyers the opportunity to customize and add value. The walk-out lower level serves as the heart of the home, offering a full kitchen, spacious living & gathering area, full bathroom, and a stunning new panoramic window that captures the natural beauty of the water and surrounding landscape. This layout is ideal for those who appreciate defined living spaces—perfect for hosting, relaxing, or creating a private retreat environment separate from sleeping quarters. Recent updates include a new lower-level shower and glass door. The property extends to the water, making it especially appealing for outdoor enthusiasts, hunters, and those seeking a peaceful escape. Being sold as-is, this home has already appraised near current pricing and presents a strong opportunity for buyers looking to personalize and enhance a waterfront property with significant upside. A rare chance to own land, water, & potential—wrapped into one. Situated on the scenic bluff of Sawyer Slough, adjacent to Marshall County State Conservation Area, placing miles of hiking, ATV trails & exceptional wildlife right at your doorstep!

9. 2025-10-10
   historical $145,000 1543-char remark

   Show marketing remark (1543 chars)

   SERENITY-Situated on a rare 1.9 Acre double lot along the backwaters of the Illinois River in Sycamore Bay, this property offers a unique blend of privacy, water views, & outdoor lifestyle—without the requirement of flood insurance. Designed for flexibility, the home features a 3-bedroom main/upper level with office & additional flex space, already plumbed for a future bathroom—giving buyers the opportunity to customize and add value. The walk-out lower level serves as the heart of the home, offering a full kitchen, spacious living & gathering area, full bathroom, and a stunning new panoramic window that captures the natural beauty of the water and surrounding landscape. This layout is ideal for those who appreciate defined living spaces—perfect for hosting, relaxing, or creating a private retreat environment separate from sleeping quarters. Recent updates include a new lower-level shower and glass door. The property extends to the water, making it especially appealing for outdoor enthusiasts, hunters, and those seeking a peaceful escape. Being sold as-is, this home has already appraised near current pricing and presents a strong opportunity for buyers looking to personalize and enhance a waterfront property with significant upside. A rare chance to own land, water, & potential—wrapped into one. Situated on the scenic bluff of Sawyer Slough, adjacent to Marshall County State Conservation Area, placing miles of hiking, ATV trails & exceptional wildlife right at your doorstep!

ⓘ 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: $313 · $26/mo
• Projected year-2 tax: $1,734 · $145/mo
• Expected delta: +$1,421/yr (+$118/mo · 453.5%)

ⓘ 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 ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,566
• − Mortgage interest: −$7,786
• − Property taxes: −$313
• − Insurance: −$695
• − Repairs & maintenance: −$1,005
• − Management: −$1,005
• − HOA: −$156
• − Depreciation: −$4,044
• Taxable loss: −$2,439
• Est. tax savings @ 24.0%: +$585
• After-tax cash flow: $601/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: Midland CUSD 7
• NCES district ID: 1700126
• Math proficiency: 24% ▼ -4.00%
• Reading proficiency: 46% ▼ -7.00%
• Median HH income: $55,523
• Composite: 30.79/100
• National rank: #6148
• State rank: #189 of 620 in IL

Livability — Lacon

• Score: 73/100
• State rank: #275
• US rank: #5270

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,700

Population outlook (Marshall County) Hauer SSP2

• Today (2025): 10,717 people
• By 2030: 9,992 · -6.8%
• By 2040: 8,554 · -20.2%
• By 2050: 7,236 · -32.5%
• By 2075: 4,958 · -53.7%
• By 2100: 3,326 · -69.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Hispanic / Latino 1%
• Common ancestry: Romanian 3% Italian 2% Iranian 2%
• Foreign-born: 0%
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Marshall

• 2024 margin: Solid R (+36.0) · D 31.2% · R 67.2% · Other 1.6%
• 2008→2024 swing: -35.0pp toward R · 2008: -1.0pp · 2024: -36.0pp
• All cycles: 2024: R+36.0 2020: R+34.5 2016: R+33.8 2012: R+14.3 2008: R+1.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -62.03%
• Current HPI: 164.3293
• 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

-4.1% since first listed

9 events — show timeline

• 2026-04-24 Price Changed $139,000 RMLSA as Distributed by MLS Grid
• 2026-04-13 Price Changed $144,000 RMLSA as Distributed by MLS Grid
• 2026-01-21 Relisted — RMLSA as Distributed by MLS Grid
• 2026-01-21 Price Changed $145,000 RMLSA as Distributed by MLS Grid
• 2026-01-02 Pending — RMLSA as Distributed by MLS Grid
• 2025-11-29 Price Changed $139,900 RMLSA as Distributed by MLS Grid
• 2025-11-14 Price Changed $142,500 RMLSA as Distributed by MLS Grid
• 2025-10-16 Listed $145,000 RMLSA as Distributed by MLS Grid
• 2025-10-10 Coming Soon $145,000 RMLSA as Distributed by MLS Grid

Property tax history

-17.0%/yr

Latest (2024): $313 · -2.6% YoY. Source: county tax records.