715 W Ringold St · Freeport, IL 61032

$64,900

2 bd · 1.0 ba · 1,794 sqft · Other · 101 Days on market

Built 1907 4,792 sqft lot

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Why this score? — see what drove the B- 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
• ARV discount +7.5/15.0
• Livability +3.6/5.0
• 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

Cozy and quaint! This attractive home offers many benefits and efficiencies. Spacious and open living/dining. Large kitchen. Basement storage. Large bathroom. Fenced side yard. Garage off alley. Off-street parking off alley. Large front porch as well as enclosed back porch. Seller currently utilizes the basement as a workshop, but could be utilized to the extent of your imagination and has an outside entrance.

Key facts

• Good sized kitchen
• Enclosed back porch
• Large front porch

Tags

• GOOD SIZED KITCHEN
• LARGE BATHROOM
• GARAGE OFF ALLEY
• LARGE FRONT PORCH
• ENCLOSED BACK PORCH

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $65k.

Deal economics

• At list price, monthly cash flow is $455 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $59k (9.0% below list) — sets the bar for market timing.
• Cap rate 14.7% 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: 197 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% 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 $449 of loan paydown is wiped out by about $2k 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 $18k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 101 days — a 9% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y ago; this cycle's ask has dropped $10k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; built in 1907 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $59,059 (9.0% below list)

Questions for the listing agent

1. It's been on market 101 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 1907 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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?
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: 1.91% ✓
• Cap rate: 14.70%
• Cash-on-cash: 30.03%
• DSCR: 2.34
• GRM: 4.4

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: 24.7%
• Equity multiple: 2.02×
• Total profit: $18,511
• Equity at exit: $9,677

10-year hold

• IRR: 32.5%
• Equity multiple: 3.95×
• Total profit: $53,676
• Equity at exit: $5,611

Cash invested: $18,172 (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: 197
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,237 medium
• Mortgage (P&I): −$340
• Tax from tax record: −$155 /mo · $1,865/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $455

Break-even live

Break-even rent $662

Max offer price $64,900

Occupancy floor 58%

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: $16,225
• Closing costs: $1,947
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
837 W Stephenson St Freeport, IL	2.0	1.0	1330	$1,000	$0.75	43d	1	0.45mi
742 W Homer St Freeport, IL	3.0	1.0	1434	$1,325	$0.92	43d	1	0.70mi
434 1/2 S State Ave Freeport, IL	3.0	2.0	2544	$1,595	$0.63	43d	1	0.88mi

Listing history 9 events

1. 2026-04-23
   status Pending
2. 2026-02-25
   price $64,900
3. 2026-01-12
   listed $74,900 Active
4. 2023-03-03
   soldstatus $59,000
5. 2023-03-02
   soldstatus $60,000 Closed 413-char remark

   Show marketing remark (413 chars)

   Cozy and quaint! This attractive home offers many benefits and efficiencies. Spacious and open living/dining. Large kitchen. Basement storage. Large bathroom. Fenced side yard. Garage off alley. Off-street parking off alley. Large front porch as well as enclosed back porch. Seller currently utilizes the basement as a workshop, but could be utilized to the extent of your imagination and has an outside entrance.

6. 2023-02-07
   status Pending 413-char remark

   Show marketing remark (413 chars)

   Cozy and quaint! This attractive home offers many benefits and efficiencies. Spacious and open living/dining. Large kitchen. Basement storage. Large bathroom. Fenced side yard. Garage off alley. Off-street parking off alley. Large front porch as well as enclosed back porch. Seller currently utilizes the basement as a workshop, but could be utilized to the extent of your imagination and has an outside entrance.

7. 2023-01-19
   listed $65,000 Active 413-char remark

   Show marketing remark (413 chars)

   Cozy and quaint! This attractive home offers many benefits and efficiencies. Spacious and open living/dining. Large kitchen. Basement storage. Large bathroom. Fenced side yard. Garage off alley. Off-street parking off alley. Large front porch as well as enclosed back porch. Seller currently utilizes the basement as a workshop, but could be utilized to the extent of your imagination and has an outside entrance.

8. 2018-02-28
   soldstatus $36,000 129-char remark

   Show marketing remark (129 chars)

   Very neat and clean home, garage, tremendous value. This owner is offering 5 houses for sale and a package discount is available.

9. 2017-10-20
   listed $37,500 129-char remark

   Show marketing remark (129 chars)

   Very neat and clean home, garage, tremendous value. This owner is offering 5 houses for sale and a package discount is available.

ⓘ 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: $1,865 · $155/mo
• Projected year-2 tax: $1,865 · $155/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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: $14,849
• − Mortgage interest: −$3,635
• − Property taxes: −$1,865
• − Insurance: −$324
• − Repairs & maintenance: −$1,188
• − Management: −$1,188
• − Depreciation: −$1,888
• Taxable income: $4,760
• Est. tax owed @ 24.0%: −$1,142
• After-tax cash flow: $4,315/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

+73.1% since first listed

9 events — show timeline

• 2026-04-23 Pending — NWIAR
• 2026-02-25 Price Changed $64,900 NWIAR
• 2026-01-12 Listed $74,900 NWIAR
• 2023-03-03 Sold (Public Records) $59,000 Public Records
• 2023-03-02 Sold (MLS) $60,000 NWIAR
• 2023-02-07 Pending — NWIAR
• 2023-01-19 Listed $65,000 NWIAR
• 2018-02-28 Sold (MLS) $36,000 NWIAR
• 2017-10-20 Listed $37,500 NWIAR

Property tax history

+11.9%/yr

Latest (2024): $1,865 · +74.8% YoY. Source: county tax records.