1303 State St · Quincy, IL 62301

$19,000

5 bd · 4.0 ba · — sqft · SingleFamily · 19 Days on market

Built 1892 0.53 ac lot

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +5.0/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Whether you are drawn to the rich history, solid construction, or the opportunity to make it your own, this home offers endless potential. Ideal for those who appreciate charm over cookie-cutter, it is a rare chance to own a piece of the past while creating your future. Selling as-is.

Key facts

• 0.53 acre lot
• 4 garage spots
• Built 1892

What this means for you Summary

Snapshot

• This is a 5-bed/4.0-bath single-family listed at $19k.

Deal economics

• At list price, monthly cash flow is $2k ($23k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $19k).
• Recommended offer: $19k (1.5% below list) — sets the bar for market timing.
• Cap rate 126.2% vs local median 4.3% in Quincy — 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 67/100 on livability (#506 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D, employment D, amenities D-.
• Quincy SD 172 (town): math 24% / reading 27% proficiency, ranked #328 of 620 in IL (top 53%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Thomas S Baldwin Elem Sch (math 21% / reading 21%, grade F, #1,024 of 2,056 statewide, top 50%, 563 students, 0% FRL); Quincy Sr High School (math 21% / reading 28%, grade F, #256 of 693 statewide, top 44%, 1,924 students, 0% FRL) — zoned schools average 0% FRL vs 48% district-wide (48 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+10.8%/yr); 180 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 68 units permitted in Adams County in 2024 (0 in 5+ unit buildings).
• At $2,570/mo this rent would consume 59% of the median local household income ($52k/yr) (locally 1238% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $131 of loan paydown is wiped out by about $570 of value loss. Plan a longer hold.
• Adams County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $5k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($19k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1892 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $18,715 (1.5% below list)

Questions for the listing agent

1. Built in 1892 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 13.52% ✓
• Cap rate: 126.22%
• Cash-on-cash: 428.30%
• DSCR: 20.06
• GRM: 0.6

CMA / ARV

No comps found within radius.

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1251 Kentucky St	0.10mi	4/2.0 (-1)	2,135	2mo	$183,500	$86	68
1241 Park Pl	0.19mi	5/1.5	2,959	1mo	$309,000	$104	68
1112 Payson Ave	0.26mi	4/1.0 (-1)	1,645	3mo	$157,000	$95	56
1617 Hampshire St	0.54mi	5/4.0	5,618	8mo	$450,000	$80	56
1626 Kentucky St	0.30mi	4/2.0 (-1)	2,767	8mo	$227,000	$82	54
820 S 16th St	0.42mi	4/2.0 (-1)	1,540	2mo	$175,000	$114	54
1029 Madison St	0.52mi	4/2.5 (-1)	2,082	0mo	$183,000	$88	52
815 Kentucky St	0.42mi	4/2.0 (-1)	2,120	6mo	$137,500	$65	50
828 S 11th St	0.41mi	4/1.0 (-1)	1,718	1mo	$140,500	$82	50
1109 Madison St	0.50mi	4/2.0 (-1)	1,854	7mo	$129,900	$70	46
834 S 18th St	0.55mi	4/1.5 (-1)	1,049	2mo	$145,000	$138	45
110 West Ave	0.67mi	4/1.5 (-1)	2,436	2mo	$250,000	$103	39

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 25.71×
• Total profit: $131,475
• Equity at exit: $2,833

10-year hold

• IRR: —
• Equity multiple: 63.44×
• Total profit: $332,176
• Equity at exit: $1,643

Cash invested: $5,320 (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 62301

• Rents YoY: 10.8%
• Active inventory: 180
• Price-to-rent: 0.6×

Monthly cashflow live

• Estimated rent: $2,570 medium
• Mortgage (P&I): −$100
• Tax est. 1.5%: −$24 /mo · $285/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$540
• Net cashflow: $1,899

Break-even live

Break-even rent $166

Max offer price $19,000

Occupancy floor 21%

Sensitivity live

Price	-10% $1,912	-5% $1,905	+0% $1,899	+5% $1,892	+10% $1,886
Rent	-10% $1,696	-5% $1,797	+0% $1,899	+5% $2,000	+10% $2,102
Rate	-1.0pp $1,908	-0.5pp $1,904	base $1,899	+0.5pp $1,894	+1.0pp $1,889

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: $4,750
• Closing costs: $570
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
327 S 8th St Unit J Quincy, IL	4.0	2.0	—	$2,450	—	44d	1	0.41mi
116 N 3rd St Quincy, IL	1.0–4.0	1.0–2.0	1950	$5,600	$2.87	44d	12	0.95mi

Listing history 4 events

1. 2026-04-15
   status Pending
2. 2026-03-26
   listed $19,000 Active
3. 2010-04-27
   historical
4. 2010-04-27
   historical

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥106°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: $30,837
• − Mortgage interest: −$1,064
• − Property taxes: −$285
• − Insurance: −$95
• − Repairs & maintenance: −$2,467
• − Management: −$2,467
• − Depreciation: −$553
• Taxable income: $23,906
• Est. tax owed @ 24.0%: −$5,737
• After-tax cash flow: $17,048/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: Quincy SD 172
• NCES district ID: 1733000
• Math proficiency: 24% ▬ 0.00%
• Reading proficiency: 27% ▬ 0.00%
• Median HH income: $44,132
• Composite: 21.91/100
• National rank: #8229
• State rank: #328 of 620 in IL

Livability — Quincy

• Score: 67/100
• State rank: #506
• US rank: #10458

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Quincy, IL
• County: Adams County · 30,746 people
• City population: 30,746
• Metro: Quincy, IL-MO
• Population (ZIP): 30,746
• Household income: $52,055
• Rent vs Own: 41.1% rent · 58.9% own
• Severe rent burden: 1238.0

Population outlook (Adams County) Hauer SSP2

• Today (2025): 65,795 people
• By 2030: 64,436 · -2.1%
• By 2040: 61,007 · -7.3%
• By 2050: 56,851 · -13.6%
• By 2075: 46,424 · -29.4%
• By 2100: 34,305 · -47.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 7% Black 6% Hispanic / Latino 3% Asian 1%
• Common ancestry: Slovak 2% Iranian 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Adams

• 2024 margin: Solid R (+47.4) · D 25.6% · R 73.0% · Other 1.5%
• 2008→2024 swing: -25.0pp toward R · 2008: -22.4pp · 2024: -47.4pp
• All cycles: 2024: R+47.4 2020: R+46.5 2016: R+47.5 2012: R+35.2 2008: R+22.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -121.44%
• Current HPI: 131.7344
• Rent YoY: ▲ 10.78%
• Metro: Quincy, IL-MO
• 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

4 events — show timeline

• 2026-04-15 Pending — MRED as Distributed by MLS Grid
• 2026-03-26 Listed $19,000 MRED as Distributed by MLS Grid
• 2010-04-27 Listing Removed — MRED as Distributed by MLS Grid
• 2010-04-27 Listing Removed — MRED as Distributed by MLS Grid

Property tax history

+1.6%/yr

Latest (2023): $3,459 · +5.7% YoY. Source: county tax records.