514 W Carroll St · Macomb, IL 61455

$18,000

2 bd · 1.0 ba · 840 sqft · Other public records · 291 Days on market

Built 1920 0.29 ac lot $21/sqft · 50% 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 +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great starter home or potential investment property. A handyman's special, fixer-upper with a kitchen, living room, laundry room, and a partial basement. Sizable lot. Price reflects work needed to be done.

Key facts

• Handyman's special
• Kitchen
• Laundry room

Tags

• INVESTMENT PROPERTY
• HANDYMAN'S SPECIAL
• FIXER-UPPER
• KITCHEN
• LIVING ROOM
• LAUNDRY ROOM

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $18k.

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 ($724 rent vs $18k).
• Recommended offer: $16k (12.0% below list) — sets the bar for market timing.
• Cap rate 34.9% vs local median 6.0% in Macomb — 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 70/100 on livability (#379 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B; Watch: crime D, amenities D, commute F.
• Macomb CUSD 185 (town): math 19% / reading 26% proficiency, ranked #410 of 620 in IL (top 66%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Lincoln Elem School (math 17% / reading 12%, grade F, #1,278 of 2,056 statewide, top 65%, 548 students, 0% FRL); Edison Elementary School (math 15% / reading 22%, grade F, #438 of 665 statewide, top 67%, 432 students, 0% FRL); Macomb Senior High School (math 27% / reading 37%, grade F, #157 of 693 statewide, top 25%, 622 students, 0% FRL) — zoned schools average 0% FRL vs 40% district-wide (40 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 140 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent.
• This rent is only 18% of the median local income ($49k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $124 of loan paydown is wiped out by about $540 of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $5k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 291 days — a 12% lower offer ($16k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y ago; this cycle's ask has dropped $4k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $11k; list at $18k implies a 64% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $15,840 (12.0% below list)

Questions for the listing agent

1. It's been on market 291 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 1920 — 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 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?
7. 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?
8. 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.
9. 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.
10. 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: 4.02% ✓
• Cap rate: 34.91%
• Cash-on-cash: 102.22%
• DSCR: 5.55
• GRM: 2.1

CMA / ARV

• ARV (median comp): $36,101
• List price: $18,000
• Delta: -50.14%
• 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: —
• Equity multiple: 5.85×
• Total profit: $24,448
• Equity at exit: $2,684

10-year hold

• IRR: —
• Equity multiple: 12.23×
• Total profit: $56,588
• Equity at exit: $1,556

Cash invested: $5,040 (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 61455

• Home prices YoY: -33.3%
• Active inventory: 140
• Price-to-rent: 2.1×

Monthly cashflow live

• Estimated rent: $724 medium
• Mortgage (P&I): −$94
• Tax from tax record: −$41 /mo · $491/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$152
• Net cashflow: $429

Break-even live

Break-even rent $181

Max offer price $18,000

Occupancy floor 36%

Sensitivity live

Price	-10% $439	-5% $434	+0% $429	+5% $424	+10% $419
Rent	-10% $372	-5% $401	+0% $429	+5% $458	+10% $487
Rate	-1.0pp $438	-0.5pp $434	base $429	+0.5pp $425	+1.0pp $420

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: $4,500
• Closing costs: $540
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
902 N Charles St Macomb, IL	2.0	1.5	840	$695	$0.83	45d	1	0.60mi
303 S Dudley St Macomb, IL	1.0	1.0	625	$575	$0.92	45d	1	0.68mi
217 Charleston Blvd Unit 1 Macomb, IL	1.0	1.0	535	$610	$1.14	45d	1	0.73mi
218 Charleston Blvd Unit 5 Macomb, IL	1.0	1.0	535	$610	$1.14	45d	1	0.73mi

Listing history 24 events

1. 2026-06-21
   days on market $18,000 Active 291 DOM
2. 2026-06-19
   days on market $18,000 Active 289 DOM
3. 2026-06-18
   days on market $18,000 Active 288 DOM
4. 2026-06-17
   days on market $18,000 Active 287 DOM
5. 2026-06-16
   days on market $18,000 Active 286 DOM
6. 2026-06-15
   days on market $18,000 Active 285 DOM
7. 2026-06-14
   days on market $18,000 Active 283 DOM
8. 2026-06-12
   days on market $18,000 Active 282 DOM
9. 2026-06-09
   days on market $18,000 Active 279 DOM
10. 2026-06-08
    days on market $18,000 Active 278 DOM
11. 2026-06-07
    days on market $18,000 Active 277 DOM
12. 2026-06-04
    days on market $18,000 Active 273 DOM
13. 2026-06-02
    days on market $18,000 Active 272 DOM
14. 2026-06-01
    days on market $18,000 Active 271 DOM
15. 2026-05-31
    days on market $18,000 Active 270 DOM
16. 2026-05-31
    days on market $18,000 Active 269 DOM
17. 2025-12-30
    price $18,000 206-char remark

    Show marketing remark (206 chars)

    Great starter home or potential investment property. A handyman's special, fixer-upper with a kitchen, living room, laundry room, and a partial basement. Sizable lot. Price reflects work needed to be done.

18. 2025-09-03
    listed $22,000 Active 206-char remark

    Show marketing remark (206 chars)

    Great starter home or potential investment property. A handyman's special, fixer-upper with a kitchen, living room, laundry room, and a partial basement. Sizable lot. Price reflects work needed to be done.

19. 2022-07-13
    soldstatus $11,000 Closed 452-char remark

    Show marketing remark (452 chars)

    HANDYMAN'S SPECIAL...Come check out this fixer upper and create whatever you can dream up in this property. This 2 bedroom, 1 bath home including kitchen, living room, laundry room and partial basement has loads of potential and is extremely affordable. Enjoy entertaining on the shaded large lot with alley access. Newer water heater, HVAC, Roof in 2017. Previously rented for $450/month. OWNER SELLING "AS IS WITH NO REPAIRS OR WARRANTIES."

20. 2022-06-23
    status Pending 452-char remark

    Show marketing remark (452 chars)

    HANDYMAN'S SPECIAL...Come check out this fixer upper and create whatever you can dream up in this property. This 2 bedroom, 1 bath home including kitchen, living room, laundry room and partial basement has loads of potential and is extremely affordable. Enjoy entertaining on the shaded large lot with alley access. Newer water heater, HVAC, Roof in 2017. Previously rented for $450/month. OWNER SELLING "AS IS WITH NO REPAIRS OR WARRANTIES."

21. 2022-06-16
    listed $12,000 Active 452-char remark

    Show marketing remark (452 chars)

    HANDYMAN'S SPECIAL...Come check out this fixer upper and create whatever you can dream up in this property. This 2 bedroom, 1 bath home including kitchen, living room, laundry room and partial basement has loads of potential and is extremely affordable. Enjoy entertaining on the shaded large lot with alley access. Newer water heater, HVAC, Roof in 2017. Previously rented for $450/month. OWNER SELLING "AS IS WITH NO REPAIRS OR WARRANTIES."

22. 2021-12-04
    historical
23. 2021-06-21
    soldstatus $14,000
24. 2021-05-25
    listed $15,000

ⓘ 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: $491 · $41/mo
• Projected year-2 tax: $491 · $41/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 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥107°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $8,690
• − Mortgage interest: −$1,008
• − Property taxes: −$491
• − Insurance: −$90
• − Repairs & maintenance: −$695
• − Management: −$695
• − Depreciation: −$524
• Taxable income: $5,187
• Est. tax owed @ 24.0%: −$1,245
• After-tax cash flow: $3,907/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: Macomb CUSD 185
• NCES district ID: 1723920
• Math proficiency: 19% ▼ -7.00%
• Reading proficiency: 26% ▼ -8.00%
• Median HH income: $34,162
• Composite: 18.45/100
• National rank: #8927
• State rank: #410 of 620 in IL

Livability — Macomb

• Score: 70/100
• State rank: #379
• US rank: #7918

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Macomb, IL
• County: McDonough County · 17,317 people
• City population: 17,317
• Metro: Macomb, IL
• Population (ZIP): 17,317
• Household income: $48,679
• Rent vs Own: 45.1% rent · 54.9% own
• Severe rent burden: 1062.0

Population outlook (McDonough County) Hauer SSP2

• Today (2025): 33,242 people
• By 2030: 33,318 · +0.2%
• By 2040: 33,520 · +0.8%
• By 2050: 33,630 · +1.2%
• By 2075: 33,657 · +1.2%
• By 2100: 33,127 · -0.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Black 9% Two or more races 5% Hispanic / Latino 5% Asian 3%
• Common ancestry: Romanian 3% Italian 3% Iranian 2%
• Foreign-born: 4% · Canada, South Korea, China
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 1% Russian/Polish/Slavic 1%

Political lean MEDSL · McDonough

• 2024 margin: R (+18.9) · D 39.7% · R 58.5% · Other 1.8%
• 2008→2024 swing: -24.4pp toward R · 2008: 5.6pp · 2024: -18.9pp
• All cycles: 2024: R+18.9 2020: R+16.6 2016: R+11.7 2012: R+1.5 2008: D+5.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -70.20%
• Current HPI: 140.4351
• Rent YoY: —
• Metro: Macomb, IL
• 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

+20.0% since first listed

8 events — show timeline

• 2025-12-30 Price Changed $18,000 RMLSA as Distributed by MLS Grid
• 2025-09-03 Listed $22,000 RMLSA as Distributed by MLS Grid
• 2022-07-13 Sold (MLS) $11,000 RMLSA as Distributed by MLS Grid
• 2022-06-23 Pending — RMLSA as Distributed by MLS Grid
• 2022-06-16 Listed $12,000 RMLSA as Distributed by MLS Grid
• 2021-12-04 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-06-21 Sold (MLS) $14,000 RMLSA as Distributed by MLS Grid
• 2021-05-25 Listed $15,000 RMLSA as Distributed by MLS Grid

Property tax history

-7.2%/yr

Latest (2024): $491 · -42.2% YoY. Source: county tax records.