523 E Main St · Sparta, IL 62286

$62,000

3 bd · 1.0 ba · 1,250 sqft · SingleFamily · 10 Days on market

Built 1952 0.32 ac lot

---

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 +9.9/10.0
• ARV discount +7.5/15.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Looking for the perfect starter home or a comfortable place to retire? This charming home in Sparta, IL on East Main St, could be just what you've been waiting for! Featuring 3 bedrooms, 1 full bath, a cozy living room, dining room, and kitchen, this home offers a practical layout with plenty of potential. Sitting on a generous lot, and includes a large two-car garage perfect for parking, storage, or a workshop. There is one bedroom on the main level and 2 on the second level sharing a spacious closet. With minimal TLC, this home could be a wonderful fit for its next owner.

Key facts

• 0.32 acre lot
• 2 garage spots
• Built 1952

Property features AI

Finance

• Other: Estimated living area 1,250; Estimated above-grade finished area 250; Estimated below-grade finished area 1,000; Taxes listed (2024)
• Financial info: Lease not considered; No second mortgage indicated

Exterior

• Parking: Garage and off-street parking; Two-car garage
• Utilities: Public water; Public sewer; Electric service (Ameren); Electricity connected; Natural gas connected
• Home design: Attached single-family residence; Two levels
• Construction: Vinyl siding; Block, full, unfinished walk-up basement
• Exterior features: Awning-covered porch; Deck; Private yard; Landscaped lot with front and back yard and a few trees; Irregular city lot

Interior

• Kitchen: Free-standing electric range; Refrigerator
• Bedrooms: Three bedrooms total (one on the main level, two on the upper level)
• Bathrooms: One full bathroom (main/upper levels)
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Free-standing electric range; Refrigerator; Central air; Natural gas heating

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $62k.

Deal economics

• At list price, monthly cash flow is $313 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($921 rent vs $62k).
• Cap rate 12.4% vs local median 6.7% in Sparta — 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 58/100 on livability (#1,090 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime B+; Watch: employment C-, amenities F, commute F.
• Sparta CUSD 140 (town): math 13% / reading 14% proficiency, ranked #535 of 620 in IL (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Sparta High School (math 12% / reading 8%, grade F, #567 of 693 statewide, top 83%, 327 students, 0% FRL) — zoned schools average 0% FRL vs 49% district-wide (49 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 31 active listings in the ZIP; 3 units permitted in Randolph County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $429 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Randolph 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 + 3.0% rent growth), your $17k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $62,000

Questions for the listing agent

1. Built in 1952 — 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 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?
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: 1.49% ✓
• Cap rate: 12.36%
• Cash-on-cash: 21.66%
• DSCR: 1.96
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $137,500
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
504 E Main	0.06mi	3/1.0	1,353 (+8%)	14mo	$50,000	$37	72
206 S Dewey St	0.15mi	3/1.5	1,080 (-14%)	2mo	$155,000	$144	67
321 S Market St	0.48mi	3/1.0	1,337 (+7%)	4mo	$147,500	$110	63
307 W Church St	0.58mi	3/1.0	1,216 (-3%)	8mo	$115,000	$95	62
316 N St. Louis St	0.54mi	2/1.5 (-1)	1,310 (+5%)	2mo	$169,900	$130	58
109 S Washington St	0.27mi	2/1.0 (-1)	1,072 (-14%)	1mo	$14,000	$13	58
515 S Market St	0.60mi	3/1.5	1,326 (+6%)	9mo	$160,000	$121	52
221 W Belmont St	0.75mi	2/0.5 (-1)	1,249 (-0%)	8mo	$185,000	$148	51
317 N Washington St	0.34mi	2/1.0 (-1)	1,100 (-12%)	10mo	$32,100	$29	51
717 N Saint Louis St	0.68mi	2/2.0 (-1)	1,302 (+4%)	14mo	$126,000	$97	41
305 Peggy Ln	0.75mi	3/2.0	1,112 (-11%)	4mo	$125,000	$112	39
700 N James St	0.74mi	3/4.0	1,196 (-4%)	12mo	$70,000	$59	36

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: 14.3%
• Equity multiple: 1.57×
• Total profit: $9,916
• Equity at exit: $9,244

10-year hold

• IRR: 23.0%
• Equity multiple: 2.98×
• Total profit: $34,355
• Equity at exit: $5,361

Cash invested: $17,360 (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 62286

• Home prices YoY: -31.0%
• Active inventory: 31
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $921 medium
• Mortgage (P&I): −$325
• Tax from tax record: −$64 /mo · $764/yr
• Insurance: −$26
• HOA: −$0
• Vacancy / Maint / Mgmt: −$194
• Net cashflow: $313

Break-even live

Break-even rent $525

Max offer price $62,000

Occupancy floor 61%

Sensitivity live

Price	-10% $348	-5% $331	+0% $313	+5% $296	+10% $278
Rent	-10% $241	-5% $277	+0% $313	+5% $350	+10% $386
Rate	-1.0pp $345	-0.5pp $329	base $313	+0.5pp $297	+1.0pp $281

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: $15,500
• Closing costs: $1,860
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-18
   days on market $62,000 Active 10 DOM
2. 2026-06-17
   days on market $62,000 Active 9 DOM
3. 2026-06-16
   days on market $62,000 Active 8 DOM
4. 2026-06-15
   days on market $62,000 Active 7 DOM
5. 2026-06-13
   days on market $62,000 Active 5 DOM
6. 2026-06-12
   days on market $62,000 Active 4 DOM
7. 2026-06-09
   remarks 582-char remark
8. 2026-06-09
   listed $62,000 Active 1 DOM

ⓘ 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: $764 · $64/mo
• Projected year-2 tax: $1,085 · $90/mo
• Expected delta: +$322/yr (+$27/mo · 42.2%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥106°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,057
• − Mortgage interest: −$3,473
• − Property taxes: −$764
• − Insurance: −$310
• − Repairs & maintenance: −$885
• − Management: −$885
• − Depreciation: −$1,804
• Taxable income: $2,938
• Est. tax owed @ 24.0%: −$705
• After-tax cash flow: $3,055/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: Sparta CUSD 140
• NCES district ID: 1736900
• Math proficiency: 13% ▼ -10.00%
• Reading proficiency: 14% ▼ -13.00%
• Median HH income: $43,992
• Composite: 11.95/100
• National rank: #9668
• State rank: #535 of 620 in IL

Livability — Sparta

• Score: 58/100
• State rank: #1090
• US rank: #20732

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sparta, IL
• City population: 5,482
• Population (ZIP): 5,482

Population outlook (Randolph County) Hauer SSP2

• Today (2025): 31,417 people
• By 2030: 30,519 · -2.9%
• By 2040: 28,841 · -8.2%
• By 2050: 27,150 · -13.6%
• By 2075: 22,569 · -28.2%
• By 2100: 16,584 · -47.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Black 10% Two or more races 7% Hispanic / Latino 3%
• Common ancestry: Serbian 9% Lithuanian 2% Slovak 2%
• Languages at home: 99% English-only · French/Haitian/Cajun 1%

Political lean MEDSL · Randolph

• 2024 margin: Solid R (+50.0) · D 24.1% · R 74.1% · Other 1.7%
• 2008→2024 swing: -49.0pp toward R · 2008: -0.9pp · 2024: -50.0pp
• All cycles: 2024: R+50.0 2020: R+50.2 2016: R+46.8 2012: R+17.6 2008: R+0.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -52.47%
• Current HPI: 116.6798
• 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

• 2026-06-08 Listed $62,000 MARIS as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2008-06-25 Listing Removed — MRED as Distributed by MLS Grid

Property tax history

+0.9%/yr

Latest (2024): $764 · +6.5% YoY. Source: county tax records.