7 N State St · Glenwood, IL 60425

$119,900

3 bd · 1.0 ba · 1,064 sqft · SingleFamily public records · 95 Days on market

Built 1916 Est $201k · 40% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks

Fantastic opportunity! This frame 1 story offers 2 bedrooms, 1 full bath and a 2-car attached garage. This home is waiting for the right owner to unlock its full potential and turn it into a stunning home. Conveniently located near shopping and transportation, this is ideal for a first-time buyer ready to transform it into a fabulous living space or an investor looking to add to their rental portfolio.

Key facts

• 2 garage spots
• Built 1916
• Listed 94 days

Property features AI

Finance

• Other: Property assessed using Assessor living area source; Directions: Main St to State St - Right on State to property
• HOA & community: No master association fees required

Exterior

• Parking: Detached garage; 2 garage spaces (2 total parking spaces)
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; One story; Fee simple ownership; Property over 100 years old; Built before 1978
• Construction: Frame construction
• Exterior features: Lot less than 0.25 acre; Lot dimensions reported as 0.17

Interior

• Kitchen: Kitchen on main level (10 x 8)
• Bedrooms: 2 bedrooms (both on main level); Master bedroom on main level (12 x 11); Second bedroom on main level (12 x 10); Additional bedrooms listed
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas forced air heating
• Interior features: 5 total rooms; Unfinished full basement
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $988 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $109k (9.0% below list) — sets the bar for market timing.
• Cap rate 16.2% vs local median 8.0% in Glenwood — 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 66/100 on livability (#545 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B; Watch: health & safety D+, schools F, amenities F.
• Bloom Twp Hsd 206 (suburban): math 8% / reading 9% proficiency, ranked #591 of 620 in IL (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 53 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 6,272 units permitted in Cook County in 2024 (4,658 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $829 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 95 days — a 9% lower offer ($109k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $100k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1916 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $109,109 (9.0% below list)

Questions for the listing agent

1. It's been on market 95 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 1916 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.92% ✓
• Cap rate: 16.19%
• Cash-on-cash: 35.33%
• DSCR: 2.57
• GRM: 4.3

CMA / ARV

• ARV (on-the-fly): $201,096
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
116 N Campbell Ave	0.24mi	3/1.0	1,104 (+4%)	11mo	$71,400	$65	74
113 N Rebecca St	0.20mi	3/1.5	964 (-9%)	6mo	$182,500	$189	68
34 S Chestnut Ct	0.66mi	3/1.5	1,067 (+0%)	2mo	$189,900	$178	65
313 N Park Dr	0.66mi	4/2.0 (+1)	1,064 (0%)	2mo	$210,000	$197	58
301 E Maple Dr	0.65mi	3/1.5	1,067 (+0%)	13mo	$206,000	$193	56
43 N Oak Ln	0.47mi	3/1.0	950 (-11%)	5mo	$162,000	$171	56
39 N Elm Ln	0.53mi	3/1.0	1,035 (-3%)	18mo	$160,000	$155	56
208 E Mulberry Dr	0.51mi	3/1.0	975 (-8%)	11mo	$162,500	$167	53
423 N Pleasant Dr	0.75mi	3/1.0	1,092 (+3%)	11mo	$215,000	$197	51
330 E Tulip Dr	0.69mi	3/1.5	1,067 (+0%)	17mo	$205,000	$192	51
32 E Center St	0.31mi	2/1.0 (-1)	1,184 (+11%)	13mo	$119,900	$101	51
337 E Rose St	0.71mi	4/1.5 (+1)	993 (-7%)	10mo	$200,000	$201	40

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: 30.9%
• Equity multiple: 2.30×
• Total profit: $43,557
• Equity at exit: $17,877

10-year hold

• IRR: 38.1%
• Equity multiple: 4.55×
• Total profit: $119,130
• Equity at exit: $10,367

Cash invested: $33,572 (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 60425

• Home prices YoY: -10.6%
• Active inventory: 53
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $2,300 medium
• Mortgage (P&I): −$629
• Tax est. 1.5%: −$150 /mo · $1,798/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$483
• Net cashflow: $988

Break-even live

Break-even rent $1,049

Max offer price $119,900

Occupancy floor 52%

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
105 S Sycamore Ln Glenwood, IL	3.0	1.5	1201	$2,300	$1.92	1d	1	0.71mi

Listing history 7 events

1. 2026-04-20
   price $119,900
2. 2026-02-20
   listed $129,900 Active
3. 2025-07-31
   historical
4. 2025-03-20
   price
5. 2025-01-08
   listed Active
6. 2000-12-12
   soldstatus $100,000
7. 1990-11-19
   soldstatus $73,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,600
• − Mortgage interest: −$6,716
• − Property taxes: −$1,798
• − Insurance: −$600
• − Repairs & maintenance: −$2,208
• − Management: −$2,208
• − Depreciation: −$3,488
• Taxable income: $10,582
• Est. tax owed @ 24.0%: −$2,540
• After-tax cash flow: $9,321/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: Bloom Twp Hsd 206
• NCES district ID: 1706420
• Math proficiency: 8% ▼ -3.00%
• Reading proficiency: 9% ▼ -8.00%
• Median HH income: $39,795
• Composite: 7.4/100
• National rank: #9952
• State rank: #591 of 620 in IL

Livability — Glenwood

• Score: 66/100
• State rank: #545
• US rank: #11292

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Glenwood, IL
• City population: 8,730
• Population (ZIP): 8,730

Population outlook (Cook County) Hauer SSP2

• Today (2025): 5,347,519 people
• By 2030: 5,357,703 · +0.2%
• By 2040: 5,324,924 · -0.4%
• By 2050: 5,230,762 · -2.2%
• By 2075: 4,785,735 · -10.5%
• By 2100: 4,188,836 · -21.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (68%)
• Race & ethnicity: Black 68% White 22% Hispanic / Latino 6% Two or more races 4%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Romanian 3% Iranian 1% Lithuanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 4%

Political lean MEDSL · Cook

• 2024 margin: Solid D (+42.0) · D 70.4% · R 28.4% · Other 1.2%
• 2008→2024 swing: -11.4pp toward R · 2008: 53.4pp · 2024: 42.0pp
• All cycles: 2024: D+42.0 2020: D+50.3 2016: D+53.0 2012: D+49.4 2008: D+53.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -37.24%
• Current HPI: 314.1777
• 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

+64.2% since first listed

7 events — show timeline

• 2026-04-20 Price Changed $119,900 MRED as Distributed by MLS Grid
• 2026-02-20 Listed $129,900 MRED as Distributed by MLS Grid
• 2025-07-31 Listing Removed — MRED as Distributed by MLS Grid
• 2025-03-20 Price Changed — MRED as Distributed by MLS Grid
• 2025-01-08 Listed — MRED as Distributed by MLS Grid
• 2000-12-12 Sold (Public Records) $100,000 Public Records
• 1990-11-19 Sold (Public Records) $73,000 Public Records

Property tax history

-20.1%/yr

Latest (2023): $60 · -26.4% YoY. Source: county tax records.