607 W Grand Prairie St · Palestine, IL 62451

$100

2 bd · 1.0 ba · 1,016 sqft · SingleFamily public records · 36 Days on market

Built 1900 0.25 ac lot

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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
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• ARV discount +7.5/15.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks

Charming and full of potential, this spacious 2-bedroom, 1-bath home offers comfortable living with plenty of room to spread out. Inside, you’ll find generously sized rooms that create an open, inviting feel throughout the home. Recent updates include a new metal roof and updated electrical service, providing peace of mind for years to come. Outside, the property continues to impress with mature trees and a 24' x 40' pole barn. This property will sell by online auction with bidding beginning to end on Monday, June 22nd. Approx. 1000 SQ FT, 2 bed 1 bath home in town on 0.25 acres. Open house will be Monday, June 8th from 4:00 P. M. to 5:00 P. M. or by appointment. Property sells AS IS

Key facts

• New metal roof
• Outbuilding
• Pole barn

Tags

• NEW METAL ROOF
• UPDATED ELECTRICAL SERVICE
• MATURE TREES
• POLE BARN
• OUTBUILDING

Property features AI

Exterior

• Parking: Detached garage (1 car)
• Utilities: Public water; Public sewer; Public power (standard utility connections)
• Home design: Single-family residence; One-level / single-story
• Construction: Stone construction; Metal roof
• Exterior features: Front porch; Concrete road/access; Shed(s) / outbuilding

Interior

• Kitchen: No specific kitchen appliances listed
• Bedrooms: Total of 5 rooms (bedroom count not specified)
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Gas water heater; Unfinished, partial crawl space basement
• Laundry & utility: No specific laundry appliances listed

🔨 Auction listing. The $100 list price is a nominal opening bid, not a real ask — every metric below is computed on the estimated value $66,816 (ARV from comps), not the list price.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100.

Deal economics

• At list price, monthly cash flow is $283 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($943 rent vs $100).
• Recommended offer: $97 (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#571 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Palestine CUSD 3 (rural): math 10% / reading 20% proficiency, ranked #786 of 919 in IL (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 8 active listings in the ZIP; 14 units permitted in Crawford County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $462 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Crawford County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($97) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 1002.2% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $97 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 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 1900 — 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 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: 1.41% ✓
• Cap rate: 11.38%
• Cash-on-cash: 18.18%
• DSCR: 1.81
• GRM: 5.9

CMA / ARV

• ARV (median comp): $66,816
• List price: $100
• Delta: -99.85%
• Verdict: UNDERPRICED
• Comps: 10 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
308 S Lincoln St	0.51mi	2/1.0	928 (-9%)	2mo	$20,000	$22	60
404 E Lamotte St	0.70mi	3/1.0 (+1)	1,072 (+6%)	22mo	$105,000	$98	35

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: 9.8%
• Equity multiple: 1.39×
• Total profit: $7,237
• Equity at exit: $9,962

10-year hold

• IRR: 18.9%
• Equity multiple: 2.58×
• Total profit: $29,601
• Equity at exit: $5,777

Cash invested: $18,708 (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 62451

• Home prices YoY: -27.6%
• Active inventory: 8

Monthly cashflow live

• Estimated rent: $943 medium
• Mortgage (P&I): −$350
• Tax est. 1.5%: −$84 /mo · $1,002/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$198
• Net cashflow: $283

Break-even live

Break-even rent $584

Max offer price $66,816

Occupancy floor 65%

Sensitivity live

Price	-10% $330	-5% $306	+0% $283	+5% $260	+10% $237
Rent	-10% $209	-5% $246	+0% $283	+5% $321	+10% $358
Rate	-1.0pp $317	-0.5pp $300	base $283	+0.5pp $266	+1.0pp $248

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: $16,704
• Closing costs: $2,004
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $100 Active 36 DOM
2. 2026-06-18
   days on market $100 Active 34 DOM
3. 2026-06-17
   days on market $100 Active 33 DOM
4. 2026-06-16
   days on market $100 Active 32 DOM
5. 2026-06-15
   days on market $100 Active 31 DOM
6. 2026-06-13
   days on market $100 Active 29 DOM
7. 2026-06-12
   days on market $100 Active 28 DOM
8. 2026-06-09
   days on market $100 Active 25 DOM
9. 2026-06-08
   days on market $100 Active 24 DOM
10. 2026-06-07
    days on market $100 Active 23 DOM
11. 2026-06-05
    days on market $100 Active 21 DOM
12. 2026-06-04
    days on market $100 Active 19 DOM
13. 2026-06-02
    days on market $100 Active 18 DOM
14. 2026-06-01
    days on market $100 Active 17 DOM
15. 2026-05-31
    days on market $100 Active 16 DOM
16. 2026-05-31
    days on market $100 Active 15 DOM
17. 2026-05-15
    listed $100 Active 941-char remark

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 75% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥108°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,319
• − Mortgage interest: −$3,743
• − Property taxes: −$1,002
• − Insurance: −$334
• − Repairs & maintenance: −$905
• − Management: −$905
• − Depreciation: −$1,944
• Taxable income: $2,485
• Est. tax owed @ 24.0%: −$596
• After-tax cash flow: $2,804/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: Palestine CUSD 3
• NCES district ID: 1730480
• Math proficiency: 10% ▼ -5.00%
• Reading proficiency: 20% ▬ 0.00%
• Median HH income: $40,692
• Composite: 16.31/100
• National rank: #14268
• State rank: #786 of 919 in IL

Livability — Palestine

• Score: 66/100
• State rank: #571
• US rank: #12004

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Palestine, IL
• Population (ZIP): 1,955

Population outlook (Crawford County) Hauer SSP2

• Today (2025): 18,610 people
• By 2030: 18,078 · -2.9%
• By 2040: 16,963 · -8.9%
• By 2050: 15,662 · -15.8%
• By 2075: 12,384 · -33.5%
• By 2100: 8,916 · -52.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Slovak 2% Serbian 1% Italian 1%
• Foreign-born: 1%

Political lean MEDSL · Crawford

• 2024 margin: Solid R (+52.4) · D 22.9% · R 75.4% · Other 1.7%
• 2008→2024 swing: -39.4pp toward R · 2008: -13.0pp · 2024: -52.4pp
• All cycles: 2024: R+52.4 2020: R+51.3 2016: R+49.1 2012: R+31.6 2008: R+13.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -36.57%
• Current HPI: 96.1492
• 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

Property tax history

-7.1%/yr

Latest (2024): $252 · -75.8% YoY. Source: county tax records.