488 S 10000w Rd · Bonfield, IL 60913

$119,900

2 bd · 1.0 ba · 1,014 sqft · SingleFamily · 11 Days on market

0.89 ac lot

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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 +16.0/30.0
• ARV discount +7.5/15.0
• DSCR +4.9/10.0
• 1% rule +4.0/10.0
• Livability +3.2/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Country Living with endless potential! This charming 2-bedroom, 1 bath home is situated on a nearly 1-acre country lot offering peaceful surroundings, open space, and the opportunity to make it your own. Inside, you'll find a spacious living room, an eat-in kitchen perfect for gathering and a separate laundry room. Outside features include a 2.5-car detached garage, large garden beds ready for your seasonal planting, and mature fruit trees that add to the property's country charm. Whether you're looking for a starter home, investment opportunity, or quiet rural retreat, this property offers great possibilities with a little TLC and vision. Sold strictly AS-IS/No Repairs. HVAC 2024/water h

Key facts

• 0.89 acre lot
• 2 garage spots
• Listed 11 days

Property features AI

Finance

• Other: Lot size approximately 0.5–0.99 acre; Lot dimensions listed as 38332; Zoned single-family
• HOA & community: No master association fee required

Exterior

• Parking: Approximately 2.5 garage spaces (detached garage); About 6.5 total parking spaces; Gravel driveway and off-street parking; Garage with door opener, garage owned/owned
• Utilities: Well water; Septic sewer
• Home design: Detached single-family home; One-story; Fee simple ownership; School bus service available
• Construction: Aluminum siding; Asphalt roof; Block foundation; Built before 1978
• Exterior features: Mature trees; Level lot; Street paved

Interior

• Kitchen: Kitchen with eating area/table space (main level) 14 x 11, carpet
• Bedrooms: 2 bedrooms total; Bedroom (main level) 14 x 11, carpet; Master bedroom (main level) 11 x 20, carpet
• Flooring: Carpet in living areas, bedrooms, dining and kitchen; Linoleum in laundry
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: First-floor bedroom; First-floor full bathroom; Dining room separate (dining combo); Drapes on windows; 5 total rooms; Attic unfinished; Crawl space basement
• Laundry & utility: Main-level laundry in unit (11 x 10, linoleum)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $60 ($716/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 $108k (9.7% below list).
• Recommended offer: $108k (9.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 65/100 on livability (#654 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B; Watch: health & safety C-, amenities F, commute F.
• Herscher CUSD 2 (rural): math 32% / reading 32% proficiency, ranked #202 of 620 in IL (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Bonfield Grade School (323 students, 0% FRL); Limestone Middle Sch (math 27% / reading 30%, grade F, #277 of 665 statewide, top 42%, 501 students, 0% FRL); Herscher High School (math 37% / reading 27%, grade F, #157 of 693 statewide, top 25%, 502 students, 0% FRL) — zoned schools average 0% FRL vs 23% district-wide (23 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 7 active listings in the ZIP; 145 units permitted in Kankakee County in 2024 (5 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $829 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Kankakee County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $58k; list at $120k implies a 107% gain — meaningful room to come down on a strong offer.

Recommended offer $108,285 (9.7% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 0.90% ✗
• Cap rate: 6.89%
• Cash-on-cash: 2.13%
• DSCR: 1.09
• GRM: 9.2

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: -12.9%
• Equity multiple: 0.53×
• Total profit: $-15,633
• Equity at exit: $17,877

10-year hold

• IRR: -3.9%
• Equity multiple: 0.74×
• Total profit: $-8,736
• Equity at exit: $10,367

Cash invested: $33,572 (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 60913

• Home prices YoY: -17.7%
• Active inventory: 7
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,083 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$117 /mo · $1,405/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$227
• Net cashflow: $60

Break-even live

Break-even rent $1,007

Max offer price $119,900

Occupancy floor 89%

Sensitivity live

Price	-10% $128	-5% $94	+0% $60	+5% $26	+10% $-8
Rent	-10% $-26	-5% $17	+0% $60	+5% $102	+10% $145
Rate	-1.0pp $120	-0.5pp $90	base $60	+0.5pp $29	+1.0pp $-3

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-02
   status $119,900 Pending 11 DOM
2. 2026-06-01
   days on market $119,900 Active 11 DOM
3. 2026-05-31
   days on market $119,900 Active 10 DOM
4. 2026-05-30
   days on market $119,900 Active 9 DOM
5. 2026-05-21
   price $119,900
6. 2016-06-22
   soldstatus $58,000

ⓘ 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: $1,405 · $117/mo
• Projected year-2 tax: $2,063 · $172/mo
• Expected delta: +$658/yr (+$55/mo · 46.9%)

ⓘ 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 · 16 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: $12,994
• − Mortgage interest: −$6,716
• − Property taxes: −$1,405
• − Insurance: −$600
• − Repairs & maintenance: −$1,040
• − Management: −$1,040
• − Depreciation: −$3,488
• Taxable loss: −$1,293
• Est. tax savings @ 24.0%: +$310
• After-tax cash flow: $1,026/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: Herscher CUSD 2
• NCES district ID: 1718840
• Math proficiency: 32% ▲ 2.00%
• Reading proficiency: 32% ▼ -10.00%
• Median HH income: $69,778
• Composite: 29.76/100
• National rank: #6435
• State rank: #202 of 620 in IL

Livability — Bonfield

• Score: 65/100
• State rank: #654
• US rank: #13427

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 1,597
• Population (ZIP): 1,597

Population outlook (Kankakee County) Hauer SSP2

• Today (2025): 105,479 people
• By 2030: 101,792 · -3.5%
• By 2040: 93,479 · -11.4%
• By 2050: 85,061 · -19.4%
• By 2075: 67,314 · -36.2%
• By 2100: 52,439 · -50.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Lithuanian 5% Romanian 3% Portuguese 2%
• Languages at home: 97% English-only · Spanish 3%

Political lean MEDSL · Kankakee

• 2024 margin: Strong R (+20.8) · D 38.7% · R 59.5% · Other 1.8%
• 2008→2024 swing: -25.4pp toward R · 2008: 4.6pp · 2024: -20.8pp
• All cycles: 2024: R+20.8 2020: R+16.5 2016: R+13.3 2012: R+3.4 2008: D+4.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -44.11%
• Current HPI: 205.0994
• 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

+106.7% since first listed

2 events — show timeline

• 2026-05-21 Price Changed $119,900 MRED as Distributed by MLS Grid
• 2016-06-22 Sold (Public Records) $58,000 Public Records

Property tax history

+2.0%/yr

Latest (2024): $1,405 · +8.8% YoY. Source: county tax records.