224 N Elm St · Greenville, IL 62246

$110,000

4 bd · 1.0 ba · 1,376 sqft · SingleFamily public records · 8 Days on market

Built 1910 8,276 sqft lot Est $143k · 23% under

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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 +20.9/30.0
• ARV discount +15.0/15.0
• DSCR +6.7/10.0
• 1% rule +6.6/10.0
• Schools +3.6/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Step back in time with this rare early-1900s Sears Kit Home full of history, charm, and opportunity. Known as the “Fool the Expert” model, this classic Gambrel-roof home sits on a spacious corner lot next to the University and includes an additional lot for extra space or future possibilities. Featuring 4 bedrooms and 2 bathrooms, this home offers incredible character throughout, including original woodwork, transom windows, and a beautiful fireplace. With a little vision and creativity, the timeless charm of this historic property can truly shine again. Whether you're looking for a unique restoration project, investment opportunity, or distinctive family home, this property is

Key facts

• Gambrel-roof home
• Transom windows
• Beautiful fireplace

Tags

• EARLY 1900S SEARS KIT HOME
• GAMBREL-ROOF HOME
• SPACIOUS CORNER LOT
• ORIGINAL WOODWORK
• TRANSOM WINDOWS
• BEAUTIFUL FIREPLACE

Property features AI

Exterior

• Utilities: Public water; Public sewer; Electric service by Ameren; Electricity connected; Natural gas connected; Sewer connected; Water connected
• Home design: Single family residence; Two levels; Residential property
• Construction: Vinyl siding and wood siding; Asbestos shingle roof; Estimated year built
• Exterior features: Covered patio/porch; Corner lot

Interior

• Kitchen: Built-in electric oven; Refrigerator
• Bedrooms: 4 bedrooms total; 1 bedroom on the main level; 3 bedrooms on the upper level
• Bathrooms: 2 full bathrooms total; 1 full bathroom on the main level; 1 full bathroom on the upper level
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Built-in electric oven; Refrigerator; Unfinished basement; Living room fireplace

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $154 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Cap rate 8.0% vs local median 3.9% in Greenville — 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 62/100 on livability (#881 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A-; Watch: employment D+, schools F, amenities F.
• Bond County CUSD 2 (town): math 35% / reading 41% proficiency, ranked #345 of 919 in IL (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 61 active listings in the ZIP; 35 units permitted in Bond County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Bond County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price; built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $110,000

Questions for the listing agent

1. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.16% ✓
• Cap rate: 7.97%
• Cash-on-cash: 5.99%
• DSCR: 1.27
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $143,104
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
502 Stephen Ave	0.34mi	4/1.0	1,375 (-0%)	9mo	$110,000	$80	77
222 S Prairie St	0.24mi	3/2.0 (-1)	1,334 (-3%)	9mo	$175,000	$131	68
420 S Spruce St	0.30mi	3/2.0 (-1)	1,440 (+5%)	2mo	$165,000	$115	67
421 N Locust St	0.11mi	3/2.0 (-1)	1,533 (+11%)	1mo	$159,900	$104	66
924 Durley St	0.44mi	3/2.0 (-1)	1,412 (+3%)	1mo	$125,000	$89	65
705 E College Ave	0.19mi	3/1.5 (-1)	1,200 (-13%)	2mo	$98,500	$82	62
505 E Oak	0.07mi	5/2.0 (+1)	1,579 (+15%)	3mo	$65,000	$41	60
520 S Fifth St	0.56mi	3/2.0 (-1)	1,424 (+4%)	0mo	$179,000	$126	58
712 La Due Pl	0.31mi	3/1.0 (-1)	1,214 (-12%)	7mo	$162,500	$134	55
405 W Spring St	0.50mi	3/2.0 (-1)	1,532 (+11%)	1mo	$209,000	$136	48
506 Maple St	0.71mi	3/1.0 (-1)	1,250 (-9%)	9mo	$104,000	$83	39
815 S 4th St	0.70mi	4/2.0	1,571 (+14%)	2mo	$150,000	$95	38

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: -7.0%
• Equity multiple: 0.74×
• Total profit: $-7,953
• Equity at exit: $16,401

10-year hold

• IRR: 2.7%
• Equity multiple: 1.19×
• Total profit: $5,999
• Equity at exit: $9,511

Cash invested: $30,800 (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 62246

• Home prices YoY: -21.6%
• Active inventory: 61
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,276 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$231 /mo · $2,775/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$268
• Net cashflow: $154

Break-even live

Break-even rent $1,081

Max offer price $110,000

Occupancy floor 83%

Sensitivity live

Price	-10% $216	-5% $185	+0% $154	+5% $123	+10% $92
Rent	-10% $53	-5% $103	+0% $154	+5% $204	+10% $255
Rate	-1.0pp $209	-0.5pp $182	base $154	+0.5pp $125	+1.0pp $96

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-21
   days on market $110,000 Active 8 DOM
2. 2026-06-18
   days on market $110,000 Active 6 DOM
3. 2026-06-17
   days on market $110,000 Active 5 DOM
4. 2026-06-16
   days on market $110,000 Active 4 DOM
5. 2026-06-15
   days on market $110,000 Active 3 DOM
6. 2026-06-13
   remarks 687-char remark
7. 2026-06-13
   listed $110,000 Active 1 DOM

ⓘ 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: $2,775 · $231/mo
• Projected year-2 tax: $2,775 · $231/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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,307
• − Mortgage interest: −$6,162
• − Property taxes: −$2,775
• − Insurance: −$550
• − Repairs & maintenance: −$1,225
• − Management: −$1,225
• − Depreciation: −$3,200
• Taxable income: $171
• Est. tax owed @ 24.0%: −$41
• After-tax cash flow: $1,804/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: Bond County CUSD 2
• NCES district ID: 1717730
• Math proficiency: 35% ▼ -1.00%
• Reading proficiency: 41% ▼ -1.00%
• Median HH income: $51,996
• Composite: 35.52/100
• National rank: #9740
• State rank: #345 of 919 in IL

Livability — Greenville

• Score: 62/100
• State rank: #881
• US rank: #17140

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Greenville, IL
• Population (ZIP): 9,946

Population outlook (Bond County) Hauer SSP2

• Today (2025): 15,651 people
• By 2030: 15,008 · -4.1%
• By 2040: 13,490 · -13.8%
• By 2050: 12,002 · -23.3%
• By 2075: 9,019 · -42.4%
• By 2100: 6,539 · -58.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Black 11% Hispanic / Latino 6% Two or more races 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Lithuanian 4% Serbian 2% Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Bond

• 2024 margin: Solid R (+44.8) · D 26.5% · R 71.3% · Other 2.2%
• 2008→2024 swing: -43.5pp toward R · 2008: -1.3pp · 2024: -44.8pp
• All cycles: 2024: R+44.8 2020: R+41.0 2016: R+37.8 2012: R+14.7 2008: R+1.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -46.39%
• Current HPI: 168.0802
• 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

• 2026-06-12 Listed $110,000 MARIS as Distributed by MLS Grid

Property tax history

+8.9%/yr

Latest (2021): $2,775 · +1.5% YoY. Source: county tax records.