None · Watseka, IL 60970

$19,900

2 bd · 2.0 ba · 1,299 sqft · SingleFamily · 19 Days on market

Built 1880 0.57 ac lot $15/sqft · 87% below area

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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 +15.0/30.0
• ARV discount +7.5/15.0
• Appreciation +5.7/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0

Listing remarks

Investor Special - Just Outside Watseka Attention investors! This 2-bedroom, 2-bath home offers 1,299 sq. ft. of potential, featuring a fireplace and a peaceful location south of Watseka. The property is in very poor condition and will require a full renovation. Being sold as-is - all buyers and agents must sign a liability waiver prior to any showing, and unrepresented buyers are not permitted. Perfect opportunity for an experienced investor or rehabber ready to take on a project.

Key facts

• Peaceful location
• Full renovation
• 0.57 acre lot

Tags

• FULL RENOVATION
• PEACEFUL LOCATION

Property features AI

Finance

• Other: Lot dimensions approximately 203 x 124; Lot about 0.5–0.99 acre; Zoning: Single
• HOA & community: No master association fees required

Exterior

• Parking: 2 parking spaces; Owned parking (other type)
• Utilities: Shared well water; Septic tank sewer
• Home design: Detached single-family home; 2 stories; Fee simple ownership; Rehab completed (year listed as 1940)
• Construction: Wood siding exterior; Asphalt roof; Stone foundation; Property over 100 years old; Built before 1978
• Exterior features: Patio

Interior

• Kitchen: Kitchen
• Bedrooms: Master bedroom (Second level); Bedroom 2 (Second level, 9 x 10); Bedroom 3; Bedroom 4
• Bathrooms: 2 full bathrooms
• Interior features: Unfinished attic; Full unfinished basement; Wood-burning fireplace in the living room
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $20k.

Deal economics

• At list price, monthly cash flow is $657 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $20k).
• Recommended offer: $20k (1.5% below list) — sets the bar for market timing.
• Cap rate 45.9% vs local median 3.4% in Watseka — 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 63/100 on livability (#811 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: schools D, amenities F, commute F.
• Iroquois County CUSD 9 (rural): math 18% / reading 35% proficiency, ranked #316 of 620 in IL (top 51%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 40 active listings in the ZIP; 14 units permitted in Iroquois County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $403 of equity ($138 loan paydown + $265 appreciation (1.3% local appreciation)).
• Iroquois County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.3% appreciation + 3.0% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($20k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: property tax is 3.9% of price; built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $19,601 (1.5% below list)

Questions for the listing agent

1. Built in 1880 — 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 D-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. 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?
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: 5.31% ✓
• Cap rate: 45.91%
• Cash-on-cash: 141.48%
• DSCR: 7.30
• GRM: 1.6

CMA / ARV

• ARV (median comp): $149,472
• List price: $19,900
• Delta: -83.94%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

1.33% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 8.64×
• Total profit: $42,577
• Equity at exit: $7,137

10-year hold

• IRR: —
• Equity multiple: 18.10×
• Total profit: $95,258
• Equity at exit: $9,757

Cash invested: $5,572 (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 60970

• Home prices YoY: 0.9%
• Active inventory: 40
• Price-to-rent: 1.6×

Monthly cashflow live

• Estimated rent: $1,056 medium
• Mortgage (P&I): −$104
• Tax from tax record: −$64 /mo · $773/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$222
• Net cashflow: $657

Break-even live

Break-even rent $224

Max offer price $19,900

Occupancy floor 33%

Sensitivity live

Price	-10% $668	-5% $663	+0% $657	+5% $651	+10% $646
Rent	-10% $574	-5% $615	+0% $657	+5% $699	+10% $740
Rate	-1.0pp $667	-0.5pp $662	base $657	+0.5pp $652	+1.0pp $647

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: $4,975
• Closing costs: $597
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $19,900 Active 19 DOM
2. 2026-06-17
   days on market $19,900 Active 18 DOM
3. 2026-06-16
   days on market $19,900 Active 17 DOM
4. 2026-06-15
   days on market $19,900 Active 16 DOM
5. 2026-06-14
   days on market $19,900 Active 14 DOM
6. 2026-06-10
   days on market $19,900 Active 11 DOM
7. 2026-06-09
   days on market $19,900 Active 10 DOM
8. 2026-06-08
   days on market $19,900 Active 9 DOM
9. 2026-06-07
   days on market $19,900 Active 8 DOM
10. 2026-06-03
    days on market $19,900 Active 4 DOM
11. 2026-06-02
    days on market $19,900 Active 3 DOM
12. 2026-06-01
    days on market $19,900 Active 2 DOM
13. 2026-05-31
    remarks 487-char remark
14. 2026-05-31
    pricestatusdays on marketlisting id $19,900 Active 1 DOM
15. 2026-05-12
    historical
16. 2026-03-31
    price
17. 2025-11-12
    listed 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: $773 · $64/mo
• Projected year-2 tax: $773 · $64/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 ≥104°F today · 17 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,669
• − Mortgage interest: −$1,115
• − Property taxes: −$773
• − Insurance: −$100
• − Repairs & maintenance: −$1,013
• − Management: −$1,013
• − Depreciation: −$579
• Taxable income: $8,076
• Est. tax owed @ 24.0%: −$1,938
• After-tax cash flow: $5,945/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: Iroquois County CUSD 9
• NCES district ID: 1720170
• Math proficiency: 18% ▼ -12.00%
• Reading proficiency: 35% ▼ -8.00%
• Median HH income: $38,590
• Composite: 22.14/100
• National rank: #8171
• State rank: #316 of 620 in IL

Livability — Watseka

• Score: 63/100
• State rank: #811
• US rank: #15998

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 5,965

Population outlook (Iroquois County) Hauer SSP2

• Today (2025): 26,826 people
• By 2030: 25,771 · -3.9%
• By 2040: 23,589 · -12.1%
• By 2050: 21,523 · -19.8%
• By 2075: 17,998 · -32.9%
• By 2100: 14,979 · -44.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 5% Hispanic / Latino 5% Asian 1%
• Common ancestry: Lithuanian 6% Iranian 3% Romanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2% Tagalog/Filipino 1%

Political lean MEDSL · Iroquois

• 2024 margin: Solid R (+57.3) · D 20.6% · R 78.0% · Other 1.4%
• 2008→2024 swing: -27.5pp toward R · 2008: -29.8pp · 2024: -57.3pp
• All cycles: 2024: R+57.3 2020: R+56.7 2016: R+56.0 2012: R+44.7 2008: R+29.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.33%
• Current HPI: 156.8
• 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

4 events — show timeline

• 2026-05-30 Listed $19,900 MRED as Distributed by MLS Grid
• 2026-05-12 Listing Removed — MRED as Distributed by MLS Grid
• 2026-03-31 Price Changed — MRED as Distributed by MLS Grid
• 2025-11-12 Listed — MRED as Distributed by MLS Grid

Property tax history

+0.7%/yr

Latest (2024): $773 · +28.2% YoY. Source: county tax records.