317 S Walnut St · Shannon, IL 61078

$120,000

4 bd · 2.0 ba · 1,668 sqft · SingleFamily public records · 2 Days on market

Built 1928 10,454 sqft lot $72/sqft · 15% below area Est $141k · 15% under

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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 +25.2/30.0
• ARV discount +14.2/15.0
• Appreciation +8.4/10.0
• DSCR +8.3/10.0
• 1% rule +5.8/10.0
• Schools +3.5/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Check out this 2-story home offering 4 bedrooms and 2 full bathrooms, featuring a functional and inviting layout. The main level includes a kitchen with adjoining dining area, living room, office space, and a welcoming foyer highlighted by a beautiful open staircase. The home is finished with low-maintenance vinyl siding and vinyl replacement windows. Enjoy the convenience of a heated 2-stall attached garage plus an additional 1+ stall detached garage, wood deck and patio all situated on a corner lot with an asphalt driveway and fenced yard. The main level bathroom was tastefully remodeled approximately 5 years ago and features a walk-in shower. Additional updates include a furnace and central air installed in 2021, a 200-amp circuit breaker system installed in 2025, and a water softener. Property is being sold in as-is condition. Call today for your personal showing.

Key facts

• Open staircase
• Welcoming foyer
• Functional layout

Tags

• FUNCTIONAL LAYOUT
• KITCHEN WITH DINING AREA
• WELCOMING FOYER
• OPEN STAIRCASE
• LOW MAINTENANCE VINYL SIDING
• VINYL REPLACEMENT WINDOWS

Property features AI

Exterior

• Parking: Attached and detached garage parking; Asphalt driveway; Three garage spaces
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property; Two-story house
• Exterior features: Shingle roof; Public water; Public sewer; Lot approximately 0.24 acres

Interior

• Kitchen: Electric cooktop; Dishwasher; Microwave; Refrigerator
• Bathrooms: Two full bathrooms; One main-level bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Walk-in closets; Partial basement
• Laundry & utility: Washer; Dryer; Water softener; Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $271 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).

Location & tenants

• Location reads 61/100 on livability (#900 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D+, employment D, amenities F.
• Eastland CUSD 308 (rural): math 36% / reading 45% proficiency, ranked #138 of 620 in IL (top 22%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Eastland Elementary School (math 42% / reading 57%, grade D, #182 of 2,056 statewide, top 10%, 377 students, 0% FRL); Eastland Jr/Sr High School (math 32% / reading 37%, grade F, #126 of 693 statewide, top 21%, 337 students, 0% FRL) — zoned schools average 0% FRL vs 30% district-wide (30 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 9 active listings in the ZIP; 23 units permitted in Carroll County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($830 loan paydown + $8k appreciation (6.7% local appreciation)).
• Carroll County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.7% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 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: built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $120,000

Questions for the listing agent

1. Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
4. 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.
5. 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.
6. 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: 1.08% ✓
• Cap rate: 9.00%
• Cash-on-cash: 9.66%
• DSCR: 1.43
• GRM: 7.7

CMA / ARV

• ARV (median comp): $140,907
• List price: $120,000
• Delta: -14.84%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
318 S Chestnut St	0.03mi	3/2.0 (-1)	1,644 (-1%)	2mo	$89,500	$54	90
206 S Linn St	0.18mi	3/1.5 (-1)	1,648 (-1%)	18mo	$94,000	$57	67
218 S Linn St	0.19mi	4/1.0	1,533 (-8%)	8mo	$92,000	$60	67
218 S Linn St	0.19mi	4/1.0	1,533 (-8%)	8mo	$92,000	$60	67
109 S Ridge Rd	0.30mi	3/1.5 (-1)	1,540 (-8%)	7mo	$149,575	$97	61
401 S Linn St	0.18mi	3/1.0 (-1)	1,480 (-11%)	4mo	$95,500	$65	61
317 E Pine Ln	0.33mi	3/2.0 (-1)	1,752 (+5%)	13mo	$135,500	$77	60
217 S Linn St	0.19mi	3/1.5 (-1)	1,530 (-8%)	14mo	$140,000	$92	58

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

6.7% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.8%
• Equity multiple: 2.69×
• Total profit: $56,920
• Equity at exit: $80,830

10-year hold

• IRR: 23.0%
• Equity multiple: 5.55×
• Total profit: $152,757
• Equity at exit: $151,478

Cash invested: $33,600 (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 61078

• Home prices YoY: 3.9%
• Active inventory: 9
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,292 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$70 /mo · $846/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $271

Break-even live

Break-even rent $949

Max offer price $120,000

Occupancy floor 74%

Sensitivity live

Price	-10% $339	-5% $305	+0% $271	+5% $237	+10% $203
Rent	-10% $169	-5% $220	+0% $271	+5% $322	+10% $373
Rate	-1.0pp $331	-0.5pp $301	base $271	+0.5pp $239	+1.0pp $208

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-16
   listing id $120,000 Pending 2 DOM
2. 2026-05-03
   status Pending 880-char remark

   Show marketing remark (880 chars)

   Check out this 2-story home offering 4 bedrooms and 2 full bathrooms, featuring a functional and inviting layout. The main level includes a kitchen with adjoining dining area, living room, office space, and a welcoming foyer highlighted by a beautiful open staircase. The home is finished with low-maintenance vinyl siding and vinyl replacement windows. Enjoy the convenience of a heated 2-stall attached garage plus an additional 1+ stall detached garage, wood deck and patio all situated on a corner lot with an asphalt driveway and fenced yard. The main level bathroom was tastefully remodeled approximately 5 years ago and features a walk-in shower. Additional updates include a furnace and central air installed in 2021, a 200-amp circuit breaker system installed in 2025, and a water softener. Property is being sold in as-is condition. Call today for your personal showing.

3. 2026-05-03
   status Pending 880-char remark

   Show marketing remark (880 chars)

   Check out this 2-story home offering 4 bedrooms and 2 full bathrooms, featuring a functional and inviting layout. The main level includes a kitchen with adjoining dining area, living room, office space, and a welcoming foyer highlighted by a beautiful open staircase. The home is finished with low-maintenance vinyl siding and vinyl replacement windows. Enjoy the convenience of a heated 2-stall attached garage plus an additional 1+ stall detached garage, wood deck and patio all situated on a corner lot with an asphalt driveway and fenced yard. The main level bathroom was tastefully remodeled approximately 5 years ago and features a walk-in shower. Additional updates include a furnace and central air installed in 2021, a 200-amp circuit breaker system installed in 2025, and a water softener. Property is being sold in as-is condition. Call today for your personal showing.

4. 2026-05-01
   listed $120,000 Active 880-char remark

   Show marketing remark (880 chars)

   Check out this 2-story home offering 4 bedrooms and 2 full bathrooms, featuring a functional and inviting layout. The main level includes a kitchen with adjoining dining area, living room, office space, and a welcoming foyer highlighted by a beautiful open staircase. The home is finished with low-maintenance vinyl siding and vinyl replacement windows. Enjoy the convenience of a heated 2-stall attached garage plus an additional 1+ stall detached garage, wood deck and patio all situated on a corner lot with an asphalt driveway and fenced yard. The main level bathroom was tastefully remodeled approximately 5 years ago and features a walk-in shower. Additional updates include a furnace and central air installed in 2021, a 200-amp circuit breaker system installed in 2025, and a water softener. Property is being sold in as-is condition. Call today for your personal showing.

5. 2026-05-01
   listed $120,000 Active 880-char remark

   Show marketing remark (880 chars)

   Check out this 2-story home offering 4 bedrooms and 2 full bathrooms, featuring a functional and inviting layout. The main level includes a kitchen with adjoining dining area, living room, office space, and a welcoming foyer highlighted by a beautiful open staircase. The home is finished with low-maintenance vinyl siding and vinyl replacement windows. Enjoy the convenience of a heated 2-stall attached garage plus an additional 1+ stall detached garage, wood deck and patio all situated on a corner lot with an asphalt driveway and fenced yard. The main level bathroom was tastefully remodeled approximately 5 years ago and features a walk-in shower. Additional updates include a furnace and central air installed in 2021, a 200-amp circuit breaker system installed in 2025, and a water softener. Property is being sold in as-is condition. Call today for your personal showing.

ⓘ 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: $846 · $70/mo
• Projected year-2 tax: $1,785 · $149/mo
• Expected delta: +$939/yr (+$78/mo · 111.1%)

ⓘ 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 2/10 Low 7 d/yr ≥102°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: $15,499
• − Mortgage interest: −$6,722
• − Property taxes: −$846
• − Insurance: −$600
• − Repairs & maintenance: −$1,240
• − Management: −$1,240
• − Depreciation: −$3,491
• Taxable income: $1,361
• Est. tax owed @ 24.0%: −$327
• After-tax cash flow: $2,920/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: Eastland CUSD 308
• NCES district ID: 1700007
• Math proficiency: 36% ▼ -10.00%
• Reading proficiency: 45% ▼ -5.00%
• Median HH income: $51,770
• Composite: 35.04/100
• National rank: #5036
• State rank: #138 of 620 in IL

Livability — Shannon

• Score: 61/100
• State rank: #900
• US rank: #17530

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Shannon, IL
• Population (ZIP): 1,411

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 (95%)
• Race & ethnicity: White 95% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Slovak 3% Iranian 2% Lithuanian 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: ▲ 6.70%
• Current HPI: 177.0491
• 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

4 events — show timeline

• 2026-05-03 Pending — NWIAR
• 2026-05-03 Pending — MRED as Distributed by MLS Grid
• 2026-05-01 Listed $120,000 MRED as Distributed by MLS Grid
• 2026-05-01 Listed $120,000 NWIAR

Property tax history

-3.8%/yr

Latest (2024): $846 · -7.7% YoY. Source: county tax records.