200 1st Ave · Sherrard, IL 61281

$60,000

1 bd · 1.0 ba · 883 sqft · SingleFamily · 52 Days on market

Built 1903 7,405 sqft lot Est $96k · 38% under

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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 +29.4/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• Appreciation +7.6/10.0
• Livability +3.2/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Owner Occupant/Non-Profit/Gov't offers only at this time. Investors can offer starting 12/31. For DISCLOSURE'S INCLUDING PROPERTY CONDITION REPORT (PCR), & Offer Dates and Terms GO TO https://www. hudhomestore. gov/propertydetails?caseNumber=132-249142 HUD HOMES ARE SOLD AS IS, WHERE IS. BUYER AND BUYER AGENT TO VERIFY ALL FACTS & FIGURES. Property qualifies for FHA $100 Down Program for Qualified Owner Occupants. Must be a registered HUD broker/agent with an approved NAID in order to make offers. EHO Equal Housing Opportunity. FHA CASE #132-249142. Insured Status: IE

Key facts

• 7,405 sq ft lot
• 2 garage spots
• Built 1903

Property features AI

Finance

• Other: Possession at closing
• Financial info: 2024 taxes: $1,374.96; Tax exemptions: Homeowner, Senior

Exterior

• Parking: Detached garage; Carport; 2 total parking spaces (2 garage spaces)
• Utilities: Public water; Public sewer; 100 amp electric service
• Home design: Detached single-family home; 1 story; Fee simple ownership; Built over 100 years ago; Home built before 1978
• Construction: Aluminum siding; Block foundation
• Exterior features: Level lot; Lot dimensions roughly 49 x 154; Lot less than 0.25 acre

Interior

• Bedrooms: 1 bedroom
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating
• Interior features: Separate dining room; Partial, unfinished basement (approx. 220 sq ft); Gas water heater

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $212 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($844 rent vs $60k).
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#604 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A-; Watch: crime C-, amenities F, commute F.
• Sherrard CUSD 200 (rural): math 29% / reading 30% proficiency, ranked #240 of 620 in IL (top 39%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Sherrard Elementary School (math 37% / reading 42%, grade F, #392 of 2,056 statewide, top 21%, 237 students, 0% FRL); Sherrard Jr High School (math 37% / reading 39%, grade F, #159 of 665 statewide, top 25%, 220 students, 0% FRL); Sherrard High School (math 27% / reading 27%, grade F, #218 of 693 statewide, top 35%, 451 students, 0% FRL) — zoned schools average 0% FRL vs 25% district-wide (25 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 31 active listings in the ZIP; 15 units permitted in Mercer County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($415 loan paydown + $3k appreciation (5.2% local appreciation)).
• Mercer County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.2% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• 4 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 1903 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $58,200 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 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 1903 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.41% ✓
• Cap rate: 10.54%
• Cash-on-cash: 15.15%
• DSCR: 1.67
• GRM: 5.9

CMA / ARV

• ARV (on-the-fly): $96,247
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
200 1st Ave	0.00mi	1/1.0	883 (0%)	3mo	$45,000	$51	98
600 1st Ave	0.25mi	2/1.0 (+1)	920 (+4%)	10mo	$100,000	$109	68
404 5th St	0.33mi	2/1.0 (+1)	938 (+6%)	10mo	$126,900	$135	61

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

Projected returns pro-forma

5.23% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 26.5%
• Equity multiple: 2.68×
• Total profit: $28,159
• Equity at exit: $34,831

10-year hold

• IRR: 25.3%
• Equity multiple: 5.36×
• Total profit: $73,170
• Equity at exit: $60,812

Cash invested: $16,800 (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 61281

• Home prices YoY: 2.7%
• Active inventory: 31
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $844 medium
• Mortgage (P&I): −$315
• Tax from tax record: −$115 /mo · $1,375/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$177
• Net cashflow: $212

Break-even live

Break-even rent $575

Max offer price $60,000

Occupancy floor 70%

Sensitivity live

Price	-10% $246	-5% $229	+0% $212	+5% $195	+10% $178
Rent	-10% $146	-5% $179	+0% $212	+5% $245	+10% $279
Rate	-1.0pp $242	-0.5pp $227	base $212	+0.5pp $197	+1.0pp $181

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-05-22
   listed $60,000 Active
2. 2026-05-22
   price $60,000
3. 2026-03-30
   soldstatus Closed
4. 2026-02-11
   status Pending
5. 2026-01-23
   price $48,000
6. 2026-01-16
   status Active
7. 2026-01-14
   historical
8. 2026-01-08
   status Active
9. 2026-01-06
   historical
10. 2026-01-05
    historical
11. 2025-12-16
    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: $1,375 · $115/mo
• Projected year-2 tax: $1,375 · $115/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $10,122
• − Mortgage interest: −$3,361
• − Property taxes: −$1,375
• − Insurance: −$300
• − Repairs & maintenance: −$810
• − Management: −$810
• − Depreciation: −$1,745
• Taxable income: $1,721
• Est. tax owed @ 24.0%: −$413
• After-tax cash flow: $2,133/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: Sherrard CUSD 200
• NCES district ID: 1736180
• Math proficiency: 29% ▼ -9.00%
• Reading proficiency: 30% ▼ -16.00%
• Median HH income: $60,194
• Composite: 26.77/100
• National rank: #7129
• State rank: #240 of 620 in IL

Livability — Sherrard

• Score: 65/100
• State rank: #604
• US rank: #12488

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sherrard, IL
• Population (ZIP): 2,610

Population outlook (Mercer County) Hauer SSP2

• Today (2025): 14,595 people
• By 2030: 13,846 · -5.1%
• By 2040: 12,335 · -15.5%
• By 2050: 10,893 · -25.4%
• By 2075: 8,238 · -43.6%
• By 2100: 6,111 · -58.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Hispanic / Latino 4% Two or more races 2%
• Common ancestry: Serbian 5% Iranian 4% Slovak 3%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Mercer

• 2024 margin: Strong R (+27.1) · D 35.4% · R 62.5% · Other 2.2%
• 2008→2024 swing: -39.0pp toward R · 2008: 11.9pp · 2024: -27.1pp
• All cycles: 2024: R+27.1 2020: R+24.0 2016: R+20.7 2012: D+7.4 2008: D+11.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.23%
• Current HPI: 201.0103
• 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

+25.0% since first listed

11 events — show timeline

• 2026-05-22 Listed $60,000 MRED as Distributed by MLS Grid
• 2026-05-22 Price Changed $60,000 MRED as Distributed by MLS Grid
• 2026-03-30 Sold (MLS) — MRED as Distributed by MLS Grid
• 2026-02-11 Pending — MRED as Distributed by MLS Grid
• 2026-01-23 Price Changed $48,000 MRED as Distributed by MLS Grid
• 2026-01-16 Relisted — MRED as Distributed by MLS Grid
• 2026-01-14 Listing Removed — MRED as Distributed by MLS Grid
• 2026-01-08 Relisted — MRED as Distributed by MLS Grid
• 2026-01-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2026-01-05 Listing Removed — MRED as Distributed by MLS Grid
• 2025-12-16 Listed — RMLSA as Distributed by MLS Grid

Property tax history

+17.4%/yr

Latest (2024): $1,375 · +18.8% YoY. Source: county tax records.