1137 Chicago Ave · Savanna, IL 61074

$25,000

4 bd · 1.0 ba · 1,248 sqft · Other public records · 243 Days on market

Built 1893 4,661 sqft lot $20/sqft · 69% below area

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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 +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investment Opportunity Alert! Check out this fantastic property!! This 3 bed, 1 bath home offers an 1632 sqft and is just waiting for your personal touch. While it needs some TLC, its priced to sell fast, making it a perfect candidate for a fix and flip or a project home! Dont Miss Out! With plenty of potential, this home is ready for your creative vision! Location: Savanna IL Opportunity: Unlimited! For more details or to schedule a viewing, contact: text Joan Olson: 727-263-3034 | [email protected] Cash buyers only $500.00 EMD 7 day inspection 30 days to close

Key facts

• 4,661 sq ft lot
• Built 1893
• Listed 243 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath other listed at $25k.

Deal economics

• At list price, monthly cash flow is $429 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($800 rent vs $25k).
• Recommended offer: $22k (12.0% below list) — sets the bar for market timing.
• Cap rate 26.9% vs local median 6.4% in Savanna — 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 64/100 on livability (#684 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: schools F, amenities F, commute F.
• West Carroll CUSD 314 (rural): math 12% / reading 20% proficiency, ranked #498 of 620 in IL (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 39 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 23 units permitted in Carroll County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $173 of loan paydown is wiped out by about $750 of value loss. Plan a longer hold.
• Carroll County population projected at -30% 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 $7k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 243 days — a 12% lower offer ($22k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $18k; 39% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; built in 1893 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $22,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 243 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1893 — 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: 3.20% ✓
• Cap rate: 26.90%
• Cash-on-cash: 73.61%
• DSCR: 4.28
• GRM: 2.6

CMA / ARV

• ARV (median comp): $80,399
• List price: $25,000
• Delta: -68.91%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 73.4%
• Equity multiple: 4.33×
• Total profit: $23,327
• Equity at exit: $3,728

10-year hold

• IRR: 77.2%
• Equity multiple: 8.95×
• Total profit: $55,650
• Equity at exit: $2,162

Cash invested: $7,000 (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 61074

• Home prices YoY: -14.6%
• Active inventory: 39
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $800 medium
• Mortgage (P&I): −$131
• Tax from tax record: −$61 /mo · $733/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$168
• Net cashflow: $429

Break-even live

Break-even rent $256

Max offer price $25,000

Occupancy floor 41%

Sensitivity live

Price	-10% $444	-5% $436	+0% $429	+5% $422	+10% $415
Rent	-10% $366	-5% $398	+0% $429	+5% $461	+10% $493
Rate	-1.0pp $442	-0.5pp $436	base $429	+0.5pp $423	+1.0pp $416

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
512-514 Chicago Ave Savanna, IL	3.0	1.0	1435	$800	$0.56	45d	1	0.60mi
512 Chicago Ave Unit 1 Savanna, IL	3.0	1.5	1435	$800	$0.56	45d	1	0.60mi

Listing history 26 events

1. 2026-06-21
   days on market $25,000 Active 243 DOM
2. 2026-06-19
   days on market $25,000 Active 241 DOM
3. 2026-06-18
   days on market $25,000 Active 240 DOM
4. 2026-06-17
   days on market $25,000 Active 239 DOM
5. 2026-06-16
   days on market $25,000 Active 238 DOM
6. 2026-06-15
   days on market $25,000 Active 237 DOM
7. 2026-06-14
   days on market $25,000 Active 235 DOM
8. 2026-06-12
   days on market $25,000 Active 234 DOM
9. 2026-06-09
   days on market $25,000 Active 231 DOM
10. 2026-06-08
    days on market $25,000 Active 230 DOM
11. 2026-06-07
    days on market $25,000 Active 229 DOM
12. 2026-06-07
    days on market $25,000 Active 228 DOM
13. 2026-06-02
    days on market $25,000 Active 224 DOM
14. 2026-06-01
    days on market $25,000 Active 223 DOM
15. 2026-05-31
    days on market $25,000 Active 222 DOM
16. 2026-05-30
    days on market $25,000 Active 221 DOM
17. 2025-10-21
    listed $25,000 Active 585-char remark

    Show marketing remark (585 chars)

    Investment Opportunity Alert! Check out this fantastic property!! This 3 bed, 1 bath home offers an 1632 sqft and is just waiting for your personal touch. While it needs some TLC, its priced to sell fast, making it a perfect candidate for a fix and flip or a project home! Dont Miss Out! With plenty of potential, this home is ready for your creative vision! Location: Savanna IL Opportunity: Unlimited! For more details or to schedule a viewing, contact: text Joan Olson: 727-263-3034 | [email protected] Cash buyers only $500.00 EMD 7 day inspection 30 days to close

18. 2025-05-18
    historical $594
19. 2025-05-01
    listed $594
20. 2023-08-29
    historical
21. 2023-08-10
    listed
22. 2022-07-28
    soldstatus $18,000 337-char remark

    Show marketing remark (337 chars)

    This 3-4 bedroom house has lots of potential for cheaper than rent! Convenient location. Newer furnace and shingles. There is still work to be done but great chance to build equity or buy as an investment to rent out! Personal property and appliances in house can be included. Contract for deed could be an option with large downpayment.

23. 2022-07-25
    soldstatus $18,000 Closed
24. 2022-06-29
    status Pending
25. 2022-06-07
    listed $19,900 337-char remark

    Show marketing remark (337 chars)

    This 3-4 bedroom house has lots of potential for cheaper than rent! Convenient location. Newer furnace and shingles. There is still work to be done but great chance to build equity or buy as an investment to rent out! Personal property and appliances in house can be included. Contract for deed could be an option with large downpayment.

26. 2022-06-06
    listed $19,900 Active

ⓘ 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: $733 · $61/mo
• Projected year-2 tax: $733 · $61/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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°F today · 16 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: $9,600
• − Mortgage interest: −$1,400
• − Property taxes: −$733
• − Insurance: −$125
• − Repairs & maintenance: −$768
• − Management: −$768
• − Depreciation: −$727
• Taxable income: $5,078
• Est. tax owed @ 24.0%: −$1,219
• After-tax cash flow: $3,934/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: West Carroll CUSD 314
• NCES district ID: 1700310
• Math proficiency: 12% ▼ -5.00%
• Reading proficiency: 20% ▼ -3.00%
• Median HH income: $43,090
• Composite: 13.91/100
• National rank: #9483
• State rank: #498 of 620 in IL

Livability — Savanna

• Score: 64/100
• State rank: #684
• US rank: #13971

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Savanna, IL
• Population (ZIP): 4,009

Population outlook (Carroll County) Hauer SSP2

• Today (2025): 13,010 people
• By 2030: 12,150 · -6.6%
• By 2040: 10,462 · -19.6%
• By 2050: 9,078 · -30.2%
• By 2075: 6,704 · -48.5%
• By 2100: 5,004 · -61.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 6% Two or more races 5%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Iranian 5% Romanian 3% Slovak 2%
• Foreign-born: 2% · Canada, Jamaica
• Languages at home: 96% English-only · Spanish 3% German/W. Germanic 1%

Political lean MEDSL · Carroll

• 2024 margin: Solid R (+31.7) · D 33.2% · R 64.8% · Other 2.0%
• 2008→2024 swing: -36.5pp toward R · 2008: 4.8pp · 2024: -31.7pp
• All cycles: 2024: R+31.7 2020: R+29.4 2016: R+27.1 2012: D+1.4 2008: D+4.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -24.68%
• Current HPI: 144.9327
• 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

+25.6% since first listed

10 events — show timeline

• 2025-10-21 Listed $25,000 ForSaleByOwner.com
• 2025-05-18 Rental Removed $594 Hemlane
• 2025-05-01 Listed for Rent $594 Hemlane
• 2023-08-29 Rental Removed — RENT.
• 2023-08-10 Listed for Rent — RENT.
• 2022-07-28 Sold (MLS) $18,000 NWIAR
• 2022-07-25 Sold (MLS) $18,000 MRED as Distributed by MLS Grid
• 2022-06-29 Pending — MRED as Distributed by MLS Grid
• 2022-06-07 Listed $19,900 NWIAR
• 2022-06-06 Listed $19,900 MRED as Distributed by MLS Grid

Property tax history

+4.8%/yr

Latest (2024): $733 · +8.0% YoY. Source: county tax records.