108 S Yates St · Alpha, IL 61413

$55,000

4 bd · 1.0 ba · 1,085 sqft · SingleFamily public records · 44 Days on market

Built 1907 0.34 ac lot $51/sqft · 36% below area Est $85k · 36% under ↓ 15% since listing

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Why this score? — see what drove the A- 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
• Appreciation +6.8/10.0
• Livability +3.2/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

3-bed, 1-bath 2-story home in Alpha set on a large lot with strong potential and solid fundamentals. This property offers a functional layout with the primary bedroom, living room, kitchen, full bathroom, and laundry room all located on the main floor. Upstairs features two additional bedrooms, providing separation and flexibility within the home's design. Outdoor amenities include a spacious back deck with a wheelchair ramp and a small 1-car garage situated at the rear of the property. A new water heater was installed in 2024. With good structural integrity and room for improvements, this Alpha property presents an opportunity to build equity.

Key facts

• Kitchen
• Full bathroom
• Living room

Tags

• LARGE LOT
• FUNCTIONAL LAYOUT
• PRIMARY BEDROOM
• LIVING ROOM
• KITCHEN
• FULL BATHROOM

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $397 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $53k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#815 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B+; Watch: crime D+, schools D, amenities F.
• Alwood CUSD 225 (rural): math 20% / reading 45% proficiency, ranked #428 of 919 in IL (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 12 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 32 units permitted in Henry County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($380 loan paydown + $2k appreciation (3.6% local appreciation)).
• Henry County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.6% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.5% of price; built in 1907 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $53,350 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1907 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 2.00% ✓
• Cap rate: 14.96%
• Cash-on-cash: 30.97%
• DSCR: 2.38
• GRM: 4.2

CMA / ARV

• ARV (median comp): $85,448
• List price: $55,000
• Delta: -35.63%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
108 S Yates St	0.00mi	3/1.0 (-1)	1,085 (0%)	0mo	$40,000	$37	95
101 E D St	0.18mi	3/2.0 (-1)	1,146 (+6%)	1mo	$105,000	$92	72
313 N 1st St	0.31mi	3/1.5 (-1)	1,143 (+5%)	17mo	$87,500	$77	55
214 W B St	0.39mi	3/1.0 (-1)	1,008 (-7%)	12mo	$104,900	$104	55

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

Projected returns pro-forma

3.63% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 37.9%
• Equity multiple: 3.20×
• Total profit: $33,876
• Equity at exit: $26,714

10-year hold

• IRR: 37.3%
• Equity multiple: 6.39×
• Total profit: $82,981
• Equity at exit: $42,783

Cash invested: $15,400 (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 61413

• Home prices YoY: 2.4%
• Active inventory: 12
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,100 medium
• Mortgage (P&I): −$288
• Tax from tax record: −$160 /mo · $1,923/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $397

Break-even live

Break-even rent $597

Max offer price $55,000

Occupancy floor 59%

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
201 S 1st St Alpha, IL	3.0	2.0	1226	$1,100	$0.90	21d	1	0.19mi

Listing history 6 events

1. 2026-05-12
   status Pending 652-char remark

   Show marketing remark (652 chars)

   3-bed, 1-bath 2-story home in Alpha set on a large lot with strong potential and solid fundamentals. This property offers a functional layout with the primary bedroom, living room, kitchen, full bathroom, and laundry room all located on the main floor. Upstairs features two additional bedrooms, providing separation and flexibility within the home's design. Outdoor amenities include a spacious back deck with a wheelchair ramp and a small 1-car garage situated at the rear of the property. A new water heater was installed in 2024. With good structural integrity and room for improvements, this Alpha property presents an opportunity to build equity.

2. 2026-05-05
   price $55,000 652-char remark

   Show marketing remark (652 chars)

   3-bed, 1-bath 2-story home in Alpha set on a large lot with strong potential and solid fundamentals. This property offers a functional layout with the primary bedroom, living room, kitchen, full bathroom, and laundry room all located on the main floor. Upstairs features two additional bedrooms, providing separation and flexibility within the home's design. Outdoor amenities include a spacious back deck with a wheelchair ramp and a small 1-car garage situated at the rear of the property. A new water heater was installed in 2024. With good structural integrity and room for improvements, this Alpha property presents an opportunity to build equity.

3. 2026-04-27
   status Active 652-char remark

   Show marketing remark (652 chars)

   3-bed, 1-bath 2-story home in Alpha set on a large lot with strong potential and solid fundamentals. This property offers a functional layout with the primary bedroom, living room, kitchen, full bathroom, and laundry room all located on the main floor. Upstairs features two additional bedrooms, providing separation and flexibility within the home's design. Outdoor amenities include a spacious back deck with a wheelchair ramp and a small 1-car garage situated at the rear of the property. A new water heater was installed in 2024. With good structural integrity and room for improvements, this Alpha property presents an opportunity to build equity.

4. 2026-03-18
   status Pending 652-char remark

   Show marketing remark (652 chars)

   3-bed, 1-bath 2-story home in Alpha set on a large lot with strong potential and solid fundamentals. This property offers a functional layout with the primary bedroom, living room, kitchen, full bathroom, and laundry room all located on the main floor. Upstairs features two additional bedrooms, providing separation and flexibility within the home's design. Outdoor amenities include a spacious back deck with a wheelchair ramp and a small 1-car garage situated at the rear of the property. A new water heater was installed in 2024. With good structural integrity and room for improvements, this Alpha property presents an opportunity to build equity.

5. 2026-02-16
   listed $65,000 Active 652-char remark

   Show marketing remark (652 chars)

   3-bed, 1-bath 2-story home in Alpha set on a large lot with strong potential and solid fundamentals. This property offers a functional layout with the primary bedroom, living room, kitchen, full bathroom, and laundry room all located on the main floor. Upstairs features two additional bedrooms, providing separation and flexibility within the home's design. Outdoor amenities include a spacious back deck with a wheelchair ramp and a small 1-car garage situated at the rear of the property. A new water heater was installed in 2024. With good structural integrity and room for improvements, this Alpha property presents an opportunity to build equity.

6. 2021-08-06
   historical

ⓘ 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: $1,923 · $160/mo
• Projected year-2 tax: $1,923 · $160/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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,200
• − Mortgage interest: −$3,081
• − Property taxes: −$1,923
• − Insurance: −$275
• − Repairs & maintenance: −$1,056
• − Management: −$1,056
• − Depreciation: −$1,600
• Taxable income: $4,210
• Est. tax owed @ 24.0%: −$1,010
• After-tax cash flow: $3,759/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: Alwood CUSD 225
• NCES district ID: 1703660
• Math proficiency: 20% ▬ 0.00%
• Reading proficiency: 45% ▬ 0.00%
• Median HH income: $54,177
• Composite: 31.36/100
• National rank: #11220
• State rank: #428 of 919 in IL

Livability — Alpha

• Score: 63/100
• State rank: #815
• US rank: #16068

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Alpha, IL
• Population (ZIP): 1,038

Population outlook (Henry County) Hauer SSP2

• Today (2025): 47,376 people
• By 2030: 45,920 · -3.1%
• By 2040: 42,829 · -9.6%
• By 2050: 39,606 · -16.4%
• By 2075: 31,848 · -32.8%
• By 2100: 23,503 · -50.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 13% Hispanic / Latino 8%
• Hispanic origin (detail): Mexican 7% Puerto Rican 1%
• Common ancestry: Italian 2% Portuguese 2% Lithuanian 2%
• Foreign-born: 0%
• Languages at home: 95% English-only · Spanish 4% Korean 1%

Political lean MEDSL · Henry

• 2024 margin: Strong R (+24.5) · D 36.8% · R 61.3% · Other 1.9%
• 2008→2024 swing: -32.2pp toward R · 2008: 7.7pp · 2024: -24.5pp
• All cycles: 2024: R+24.5 2020: R+21.4 2016: R+21.2 2012: D+3.1 2008: D+7.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.63%
• Current HPI: 156.04
• 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

-15.4% since first listed

6 events — show timeline

• 2026-05-12 Pending — MRED as Distributed by MLS Grid
• 2026-05-05 Price Changed $55,000 MRED as Distributed by MLS Grid
• 2026-04-27 Relisted — MRED as Distributed by MLS Grid
• 2026-03-18 Pending — MRED as Distributed by MLS Grid
• 2026-02-16 Listed $65,000 MRED as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid

Property tax history

+1.3%/yr

Latest (2024): $1,923 · +7.1% YoY. Source: county tax records.