613 W South 10th St · Shelbyville, IL 62565

$69,900

2 bd · 1.0 ba · 744 sqft · Other public records · 336 Days on market

Built 1940 0.28 ac lot $94/sqft · 13% above area Est $62k · 13% over

---

Why this score? — see what drove the C- 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 +25.7/30.0
• DSCR +8.6/10.0
• 1% rule +6.8/10.0
• Livability +3.5/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +1.6/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

The cute little red home on South 10th, offers two bedrooms, living room, kitchen and bath AND an attic larger enough to install another bedroom. The yard is larger than most of the homes in the area and the front porch is made to sit and enjoy your coffee. This cute home would be a great home or used as a rental home.

Key facts

• Attic larger enough
• Front porch
• 0.28 acre lot

Tags

• ATTIC LARGER ENOUGH
• YARD LARGER THAN MOST
• FRONT PORCH

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $70k.

Deal economics

• At list price, monthly cash flow is $167 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($824 rent vs $70k).
• Recommended offer: $62k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.2% vs local median 5.0% in Shelbyville — 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 (#355 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Shelbyville CUSD 4 (town): math 25% / reading 41% proficiency, ranked #225 of 620 in IL (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 52 active listings in the ZIP; 41 units permitted in Shelby County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $483 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Shelby County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 336 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• 2 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 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $61,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 336 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 1940 — 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. 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.
6. 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.
7. 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: 1.18% ✓
• Cap rate: 9.16%
• Cash-on-cash: 10.23%
• DSCR: 1.46
• GRM: 7.1

CMA / ARV

• ARV (median comp): $61,799
• List price: $69,900
• Delta: 13.11%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -0.9%
• Equity multiple: 0.96×
• Total profit: $-691
• Equity at exit: $10,422

10-year hold

• IRR: 8.8%
• Equity multiple: 1.67×
• Total profit: $13,130
• Equity at exit: $6,044

Cash invested: $19,572 (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 62565

• Home prices YoY: -11.6%
• Active inventory: 52
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $824 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$88 /mo · $1,060/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$173
• Net cashflow: $167

Break-even live

Break-even rent $613

Max offer price $69,900

Occupancy floor 75%

Sensitivity live

Price	-10% $206	-5% $187	+0% $167	+5% $147	+10% $127
Rent	-10% $102	-5% $134	+0% $167	+5% $199	+10% $232
Rate	-1.0pp $202	-0.5pp $185	base $167	+0.5pp $149	+1.0pp $130

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $69,900 Active 336 DOM
2. 2026-06-18
   days on market $69,900 Active 334 DOM
3. 2026-06-17
   days on market $69,900 Active 333 DOM
4. 2026-06-16
   days on market $69,900 Active 332 DOM
5. 2026-06-15
   days on market $69,900 Active 331 DOM
6. 2026-06-13
   days on market $69,900 Active 329 DOM
7. 2026-06-12
   days on market $69,900 Active 328 DOM
8. 2026-06-09
   days on market $69,900 Active 325 DOM
9. 2026-06-08
   days on market $69,900 Active 324 DOM
10. 2026-06-07
    days on market $69,900 Active 323 DOM
11. 2026-06-04
    days on market $69,900 Active 319 DOM
12. 2026-06-02
    days on market $69,900 Active 318 DOM
13. 2026-06-01
    days on market $69,900 Active 317 DOM
14. 2026-05-31
    days on market $69,900 Active 316 DOM
15. 2026-05-31
    days on market $69,900 Active 315 DOM
16. 2026-02-16
    status Active 320-char remark

    Show marketing remark (320 chars)

    The cute little red home on South 10th, offers two bedrooms, living room, kitchen and bath AND an attic larger enough to install another bedroom. The yard is larger than most of the homes in the area and the front porch is made to sit and enjoy your coffee. This cute home would be a great home or used as a rental home.

17. 2025-07-14
    listed $69,900 Active 320-char remark

    Show marketing remark (320 chars)

    The cute little red home on South 10th, offers two bedrooms, living room, kitchen and bath AND an attic larger enough to install another bedroom. The yard is larger than most of the homes in the area and the front porch is made to sit and enjoy your coffee. This cute home would be a great home or used as a rental home.

18. 2012-03-13
    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: $1,060 · $88/mo
• Projected year-2 tax: $1,323 · $110/mo
• Expected delta: +$264/yr (+$22/mo · 24.9%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,885
• − Mortgage interest: −$3,915
• − Property taxes: −$1,060
• − Insurance: −$350
• − Repairs & maintenance: −$791
• − Management: −$791
• − Depreciation: −$2,033
• Taxable income: $946
• Est. tax owed @ 24.0%: −$227
• After-tax cash flow: $1,775/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: Shelbyville CUSD 4
• NCES district ID: 1736090
• Math proficiency: 25% ▼ -10.00%
• Reading proficiency: 41% ▼ -12.00%
• Median HH income: $44,461
• Composite: 28.1/100
• National rank: #6827
• State rank: #225 of 620 in IL

Livability — Shelbyville

• Score: 70/100
• State rank: #355
• US rank: #7321

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Shelbyville, IL
• City population: 7,422
• Population (ZIP): 7,422

Population outlook (Shelby County) Hauer SSP2

• Today (2025): 20,512 people
• By 2030: 19,675 · -4.1%
• By 2040: 17,851 · -13.0%
• By 2050: 15,973 · -22.1%
• By 2075: 11,799 · -42.5%
• By 2100: 8,030 · -60.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 2%
• Common ancestry: Lithuanian 4% Romanian 3% Slovak 2%
• Foreign-born: 2% · Canada, South Korea
• Languages at home: 97% English-only · Russian/Polish/Slavic 2% Spanish 1%

Political lean MEDSL · Shelby

• 2024 margin: Solid R (+60.2) · D 19.2% · R 79.5% · Other 1.4%
• 2008→2024 swing: -40.5pp toward R · 2008: -19.8pp · 2024: -60.2pp
• All cycles: 2024: R+60.2 2020: R+57.2 2016: R+54.3 2012: R+33.7 2008: R+19.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -23.35%
• Current HPI: 178.3002
• 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

3 events — show timeline

• 2026-02-16 Relisted — CIBR
• 2025-07-14 Listed $69,900 CIBR
• 2012-03-13 Listing Removed — MRED as Distributed by MLS Grid

Property tax history

+3.1%/yr

Latest (2024): $1,060 · +8.1% YoY. Source: county tax records.