709 W Lincoln Blvd · Freeport, IL 61032

$90,000

4 bd · 1.0 ba · 2,016 sqft · SingleFamily · 73 Days on market

Built 1867 6,098 sqft lot $45/sqft · 10% above area Est $82k · 10% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.6/5.0
• ARV discount +2.8/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious traditional two-story offering a flexible layout with a main-floor bedroom, full bath, and laundry, ideal for multi-generational living or work-from-home needs. Enjoy everyday living with a layout that offers both formal spaces and functional convenience. The main floor features a front living room and formal dining room, both with hardwood floors, along with a kitchen with island and original butler's pantry, providing added storage and charm. Convenient access from the kitchen leads directly to the attached oversized 25' deep garage. A main-floor bedroom, updated full bath, and laundry complete the first level, offering true flexibility for guests, home office use, or single-level living needs. Upstairs includes three additional bedrooms, including one with a walk-in closet, providing comfortable space for family or guests. Roof new within 10 years. All appliances stay including washer and dryer. Partially fenced backyard. Beautifully updated landscaping.

Key facts

• Main-floor bedroom
• Walk-in closet
• Full bath

Tags

• MAIN-FLOOR BEDROOM
• FULL BATH
• LAUNDRY
• BUTLER'S PANTRY
• ATTACHED OVERSIZED GARAGE
• WALK-IN CLOSET

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $487 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $85k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.8% vs local median 5.8% in Freeport — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 72/100 on livability (#302 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: schools F, commute F, employment F.
• Freeport SD 145 (town): math 11% / reading 12% proficiency, ranked #565 of 620 in IL (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 205 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 83% of comp listings sitting > 30 days — soft ceiling on asking rent; 7 units permitted in Stephenson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Stephenson County population projected at -29% 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 ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($85k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $5k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1867 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $84,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 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 1867 — 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 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?
6. 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.
7. 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.
8. 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: 1.59% ✓
• Cap rate: 12.79%
• Cash-on-cash: 23.20%
• DSCR: 2.03
• GRM: 5.3

CMA / ARV

• ARV (median comp): $81,569
• List price: $90,000
• Delta: 10.34%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
933 W Stephenson St	0.38mi	3/2.0 (-1)	1,994 (-1%)	5mo	$165,000	$83	67
603 S Galena Ave	0.55mi	4/1.0	2,075 (+3%)	5mo	$27,000	$13	65
510-512 N Brick Ave	0.50mi	4/2.0	1,921 (-5%)	0mo	$25,000	$13	64
1413 S Locust Ave	0.66mi	3/1.0 (-1)	2,013 (-0%)	6mo	$155,000	$77	59
1241 W Pleasant St	0.74mi	3/1.5 (-1)	2,032 (+1%)	2mo	$130,000	$64	56
436 N Apple Ave	0.43mi	4/2.0	2,272 (+13%)	1mo	$95,300	$42	54
1020 S Oak Ave	0.60mi	5/2.0 (+1)	2,104 (+4%)	3mo	$38,550	$18	53
1427 S Blackhawk	0.71mi	3/1.0 (-1)	1,892 (-6%)	1mo	$138,000	$73	51
25 W Pleasant St	0.59mi	4/1.0	1,788 (-11%)	8mo	$28,000	$16	47
1126 W Stover St	0.58mi	4/2.0	1,780 (-12%)	4mo	$205,000	$115	46
720 S Mckinley Ave	0.68mi	3/1.5 (-1)	1,800 (-11%)	1mo	$110,000	$61	42
1442 S Blackhawk Ave	0.72mi	3/2.0 (-1)	1,720 (-15%)	2mo	$66,250	$39	31

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: 16.2%
• Equity multiple: 1.65×
• Total profit: $16,480
• Equity at exit: $13,419

10-year hold

• IRR: 24.8%
• Equity multiple: 3.16×
• Total profit: $54,441
• Equity at exit: $7,782

Cash invested: $25,200 (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 61032

• Home prices YoY: -19.5%
• Active inventory: 205
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,427 high
• Mortgage (P&I): −$472
• Tax from tax record: −$131 /mo · $1,572/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $487

Break-even live

Break-even rent $811

Max offer price $90,000

Occupancy floor 61%

Sensitivity live

Price	-10% $538	-5% $513	+0% $487	+5% $462	+10% $436
Rent	-10% $374	-5% $431	+0% $487	+5% $544	+10% $600
Rate	-1.0pp $533	-0.5pp $510	base $487	+0.5pp $464	+1.0pp $440

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
742 W Homer St Freeport, IL	3.0	1.0	1434	$1,325	$0.92	44d	1	0.16mi
320 W Clark St Freeport, IL	4.0	1.0	1509	$1,395	$0.92	44d	1	0.39mi
435 N Apple Ave Freeport, IL	4.0	2.0	1500	$1,450	$0.97	44d	1	0.46mi
434 1/2 S State Ave Freeport, IL	3.0	2.0	2544	$1,595	$0.63	44d	1	0.69mi
1219 1/2 S Chicago Ave Freeport, IL	5.0	2.0	2672	$1,625	$0.61	44d	1	0.78mi
404 E Prospect Ter Freeport, IL	4.0	2.0	2560	$1,525	$0.60	22d	1	0.88mi

Listing history 12 events

1. 2026-06-12
   statusdays on marketlisting id $90,000 Pending 73 DOM
2. 2026-06-09
   days on market $90,000 Active 72 DOM
3. 2026-06-08
   days on market $90,000 Active 71 DOM
4. 2026-06-07
   days on market $90,000 Active 70 DOM
5. 2026-06-07
   days on market $90,000 Active 69 DOM
6. 2026-06-04
   days on market $90,000 Active 66 DOM
7. 2026-06-02
   days on market $90,000 Active 65 DOM
8. 2026-06-01
   days on market $90,000 Active 64 DOM
9. 2026-05-31
   days on market $90,000 Active 63 DOM
10. 2026-05-31
    days on market $90,000 Active 62 DOM
11. 2026-03-30
    listed $95,000 Active 980-char remark

    Show marketing remark (980 chars)

    Spacious traditional two-story offering a flexible layout with a main-floor bedroom, full bath, and laundry, ideal for multi-generational living or work-from-home needs. Enjoy everyday living with a layout that offers both formal spaces and functional convenience. The main floor features a front living room and formal dining room, both with hardwood floors, along with a kitchen with island and original butler's pantry, providing added storage and charm. Convenient access from the kitchen leads directly to the attached oversized 25' deep garage. A main-floor bedroom, updated full bath, and laundry complete the first level, offering true flexibility for guests, home office use, or single-level living needs. Upstairs includes three additional bedrooms, including one with a walk-in closet, providing comfortable space for family or guests. Roof new within 10 years. All appliances stay including washer and dryer. Partially fenced backyard. Beautifully updated landscaping.

12. 2026-03-29
    listed $95,000 Active 980-char remark

    Show marketing remark (980 chars)

    Spacious traditional two-story offering a flexible layout with a main-floor bedroom, full bath, and laundry, ideal for multi-generational living or work-from-home needs. Enjoy everyday living with a layout that offers both formal spaces and functional convenience. The main floor features a front living room and formal dining room, both with hardwood floors, along with a kitchen with island and original butler's pantry, providing added storage and charm. Convenient access from the kitchen leads directly to the attached oversized 25' deep garage. A main-floor bedroom, updated full bath, and laundry complete the first level, offering true flexibility for guests, home office use, or single-level living needs. Upstairs includes three additional bedrooms, including one with a walk-in closet, providing comfortable space for family or guests. Roof new within 10 years. All appliances stay including washer and dryer. Partially fenced backyard. Beautifully updated landscaping.

ⓘ 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: $1,572 · $131/mo
• Projected year-2 tax: $1,807 · $151/mo
• Expected delta: +$236/yr (+$20/mo · 15.0%)

ⓘ 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 ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,129
• − Mortgage interest: −$5,041
• − Property taxes: −$1,572
• − Insurance: −$450
• − Repairs & maintenance: −$1,370
• − Management: −$1,370
• − Depreciation: −$2,618
• Taxable income: $4,707
• Est. tax owed @ 24.0%: −$1,130
• After-tax cash flow: $4,717/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: Freeport SD 145
• NCES district ID: 1715900
• Math proficiency: 11% ▼ -3.00%
• Reading proficiency: 12% ▼ -5.00%
• Median HH income: $39,803
• Composite: 9.89/100
• National rank: #9821
• State rank: #565 of 620 in IL

Livability — Freeport

• Score: 72/100
• State rank: #302
• US rank: #5927

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Freeport, IL
• Population (ZIP): 29,072

Population outlook (Stephenson County) Hauer SSP2

• Today (2025): 41,802 people
• By 2030: 39,487 · -5.5%
• By 2040: 34,534 · -17.4%
• By 2050: 29,693 · -29.0%
• By 2075: 21,196 · -49.3%
• By 2100: 14,596 · -65.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Black 12% Two or more races 10% Hispanic / Latino 6% Asian 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Iranian 3% Romanian 2% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3% Other Indo-European 1%

Political lean MEDSL · Stephenson

• 2024 margin: R (+19.4) · D 39.5% · R 58.9% · Other 1.6%
• 2008→2024 swing: -26.1pp toward R · 2008: 6.7pp · 2024: -19.4pp
• All cycles: 2024: R+19.4 2020: R+15.7 2016: R+17.0 2012: R+4.6 2008: D+6.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -39.75%
• Current HPI: 163.677
• 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

+0.0% since first listed

2 events — show timeline

• 2026-03-30 Listed $95,000 NWIAR
• 2026-03-29 Listed $95,000 MRED as Distributed by MLS Grid

Property tax history

+5.5%/yr

Latest (2024): $1,572 · -6.5% YoY. Source: county tax records.