2629 170th Ave · Preemption, IL 61276

$109,900

3 bd · 1.5 ba · 1,621 sqft · SingleFamily · 76 Days on market

Built 1908 Good condition 0.42 ac lot $68/sqft · 30% below area Est $158k · 30% under

---

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 +18.5/30.0
• ARV discount +15.0/15.0
• DSCR +5.8/10.0
• 1% rule +5.0/10.0
• Appreciation +5.0/10.0
• Condition / age +3.8/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0

Listing remarks MLS

A great opportunity for a conventional or cash buyer awaits! Located just off Highway 67 in Preemption, this 3-bedroom and 1.5-bath home offers a quiet rural setting on a 0.42-acre lot. A recently installed roof adds peace of mind while you plan updates to build immediate equity. The main level includes a bedroom, full bath, living area, and kitchen. Upstairs you will find two additional bedrooms with double closets and a half bath. The property features mature trees and plenty of space for outdoor projects. Home is being sold as-is.

Key facts

• Plenty of space
• Quiet rural setting
• Mature trees

Tags

• QUIET RURAL SETTING
• RECENTLY INSTALLED ROOF
• MATURE TREES
• PLENTY OF SPACE

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $110k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $106 ($1k/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 $110k (0.4% below list).
• Recommended offer: $103k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Sherrard CUSD 200 (rural): math 29% / reading 30% proficiency, ranked #240 of 620 in IL (top 39%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 1 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 15 units permitted in Mercer County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($760 loan paydown + $3k appreciation (3.0% local appreciation)).
• Mercer County population projected at -25% 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 $31k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($103k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1908 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $103,306 (6.0% below list)

Questions for the listing agent

1. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1908 — 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. 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: 1.00% ✗
• Cap rate: 7.45%
• Cash-on-cash: 4.12%
• DSCR: 1.18
• GRM: 8.4

CMA / ARV

• ARV (median comp): $157,500
• List price: $109,900
• Delta: -30.22%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1695 US Highway 67 Hwy	0.08mi	3/2.0	1,475 (-9%)	2mo	$150,000	$102	78
1669 US Hwy 67	0.24mi	3/1.0	1,435 (-12%)	18mo	$124,900	$87	52

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: 11.3%
• Equity multiple: 1.65×
• Total profit: $19,978
• Equity at exit: $49,416

10-year hold

• IRR: 13.5%
• Equity multiple: 3.01×
• Total profit: $61,739
• Equity at exit: $76,156

Cash invested: $30,772 (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 61276

• Active inventory: 1
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,095 medium
• Mortgage (P&I): −$576
• Tax est. 1.5%: −$137 /mo · $1,648/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$230
• Net cashflow: $106

Break-even live

Break-even rent $961

Max offer price $109,900

Occupancy floor 85%

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2623 170th Ave Preemption, IL	3.0	1.0	1344	$1,095	$0.81	21d	1	0.07mi

Listing history 6 events

1. 2026-06-04
   statusdays on market $109,900 Pending 76 DOM
2. 2026-06-02
   days on market $109,900 Contingent - Continue to Show 75 DOM
3. 2026-06-01
   days on market $109,900 Contingent - Continue to Show 74 DOM
4. 2026-05-31
   days on market $109,900 Contingent - Continue to Show 73 DOM
5. 2026-05-31
   days on market $109,900 Contingent - Continue to Show 72 DOM
6. 2026-03-19
   listed $109,900 Active 539-char remark

   Show marketing remark (539 chars)

   A great opportunity for a conventional or cash buyer awaits! Located just off Highway 67 in Preemption, this 3-bedroom and 1.5-bath home offers a quiet rural setting on a 0.42-acre lot. A recently installed roof adds peace of mind while you plan updates to build immediate equity. The main level includes a bedroom, full bath, living area, and kitchen. Upstairs you will find two additional bedrooms with double closets and a half bath. The property features mature trees and plenty of space for outdoor projects. Home is being sold as-is.

ⓘ 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 · 16 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: $13,140
• − Mortgage interest: −$6,156
• − Property taxes: −$1,648
• − Insurance: −$550
• − Repairs & maintenance: −$1,051
• − Management: −$1,051
• − Depreciation: −$3,197
• Taxable loss: −$514
• Est. tax savings @ 24.0%: +$123
• After-tax cash flow: $1,390/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This 3-bedroom home offers a good condition with recent roof installation and a quiet rural setting. Minor updates to the interior and landscaping would significantly enhance its resale and rental value.

Value-add opportunities

• Both painting interior walls — enhances curb appeal and interior aesthetics
• Both landscaping and lawn care — improves curb appeal and property value
• Resale upgrading kitchen appliances — modernizes kitchen and attracts buyers
• Resale installing new windows — increases natural light and property value

Renovation cost estimate screening

Value-add ROI direction

• Both painting interior walls — enhances curb appeal and interior aesthetics ↑
• Both landscaping and lawn care — improves curb appeal and property value ↑
• Resale upgrading kitchen appliances — modernizes kitchen and attracts buyers ↑
• Resale installing new windows — increases natural light and property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Sherrard CUSD 200
• NCES district ID: 1736180
• Math proficiency: 29% ▼ -9.00%
• Reading proficiency: 30% ▼ -16.00%
• Median HH income: $60,194
• Composite: 26.77/100
• National rank: #7129
• State rank: #240 of 620 in IL

Livability — Preemption

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Preemption, IL
• City population: 28
• Population (ZIP): 28

Population outlook (Mercer County) Hauer SSP2

• Today (2025): 14,595 people
• By 2030: 13,846 · -5.1%
• By 2040: 12,335 · -15.5%
• By 2050: 10,893 · -25.4%
• By 2075: 8,238 · -43.6%
• By 2100: 6,111 · -58.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (100%)
• Race & ethnicity: White 100%
• Common ancestry: Lithuanian 25%

Political lean MEDSL · Mercer

• 2024 margin: Strong R (+27.1) · D 35.4% · R 62.5% · Other 2.2%
• 2008→2024 swing: -39.0pp toward R · 2008: 11.9pp · 2024: -27.1pp
• All cycles: 2024: R+27.1 2020: R+24.0 2016: R+20.7 2012: D+7.4 2008: D+11.9

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

1 event — show timeline

• 2026-03-19 Listed $109,900 MRED as Distributed by MLS Grid