209 N Reader St · Mounds, IL 62964

$68,250

3 bd · 2.0 ba · 1,923 sqft · SingleFamily public records · 38 Days on market

Built 1952 10,201 sqft lot Est $56k · 22% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +5.0/10.0
• Livability +2.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.2/10.0
• ARV discount +0.0/15.0

Listing remarks

This spacious 3-bedroom, 2-bath brick home is located in a quiet Southern Illinois town and offers an impressive amount of living space all on one level. The exterior features attractive brickwork and modern roof lines that give the home great curb appeal. With a little cosmetic updating, this property has excellent potential. A fresh coat of paint and a few minor repairs would go a long way, and the affordable price leaves plenty of room for a new owner to update the kitchen, bathrooms, or flooring to their own taste. With the right improvements, this home offers a great opportunity to build instant equity while creating the perfect place to call home.

Key facts

• 0.23 acre lot
• 2 parking spots
• Built 1952

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $68k.

Deal economics

• At list price, monthly cash flow is $463 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $68k).
• Recommended offer: $66k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 51/100 on livability (#1,326 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: amenities F, commute F, employment F.
• Meridian CUSD 101 (rural): math 2% / reading 2% proficiency, ranked #618 of 620 in IL (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 86% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Meridian Elementary School (math 2% / reading 2%, grade F, #1,927 of 2,056 statewide, top 100%, 236 students, 0% FRL); Meridian High School (math 5% / reading 5%, grade F, #614 of 693 statewide, top 95%, 224 students, 0% FRL) — zoned schools average 0% FRL vs 86% district-wide (86 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 6 active listings in the ZIP.

Forward outlook

• In year one you build about $3k of equity ($472 loan paydown + $2k appreciation (3.0% local appreciation)).
• Pulaski County population projected at -38% 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 ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($66k) is reasonable based on typical stale-listing flexibility.

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 $66,202 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 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 1952 — 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. 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?
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: 1.79% ✓
• Cap rate: 14.44%
• Cash-on-cash: 29.09%
• DSCR: 2.29
• GRM: 4.7

CMA / ARV

• ARV (on-the-fly): $55,767
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
108 N Spencer St	0.13mi	3/2.0	1,707 (-11%)	11mo	$50,000	$29	66

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: 35.0%
• Equity multiple: 2.98×
• Total profit: $37,768
• Equity at exit: $30,688

10-year hold

• IRR: 35.2%
• Equity multiple: 5.87×
• Total profit: $93,154
• Equity at exit: $47,294

Cash invested: $19,110 (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 62964

• Active inventory: 6
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,220 medium
• Mortgage (P&I): −$358
• Tax from tax record: −$114 /mo · $1,371/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $463

Break-even live

Break-even rent $634

Max offer price $68,250

Occupancy floor 57%

Sensitivity live

Price	-10% $502	-5% $483	+0% $463	+5% $444	+10% $425
Rent	-10% $367	-5% $415	+0% $463	+5% $512	+10% $560
Rate	-1.0pp $498	-0.5pp $481	base $463	+0.5pp $446	+1.0pp $428

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: $17,062
• Closing costs: $2,048
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-04-22
   status Pending
2. 2026-03-13
   listed $68,250 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: $1,371 · $114/mo
• Projected year-2 tax: $1,460 · $122/mo
• Expected delta: +$89/yr (+$7/mo · 6.5%)

ⓘ 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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥109°F today · 21 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,642
• − Mortgage interest: −$3,823
• − Property taxes: −$1,371
• − Insurance: −$341
• − Repairs & maintenance: −$1,171
• − Management: −$1,171
• − Depreciation: −$1,985
• Taxable income: $4,779
• Est. tax owed @ 24.0%: −$1,147
• After-tax cash flow: $4,413/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: Meridian CUSD 101
• NCES district ID: 1726970
• Math proficiency: 2% ▼ -9.50%
• Reading proficiency: 2% ▼ -12.50%
• Median HH income: $30,833
• Composite: 1.58/100
• National rank: #10106
• State rank: #618 of 620 in IL

Livability — Mounds

• Score: 51/100
• State rank: #1326
• US rank: #25291

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mounds, IL
• Population (ZIP): 1,028

Population outlook (Pulaski County) Hauer SSP2

• Today (2025): 4,927 people
• By 2030: 4,542 · -7.8%
• By 2040: 3,752 · -23.8%
• By 2050: 3,081 · -37.5%
• By 2075: 1,982 · -59.8%
• By 2100: 1,365 · -72.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (85%)
• Race & ethnicity: Black 85% White 12% Two or more races 2%
• Common ancestry: Serbian 1% Slovak 1%
• Foreign-born: 0%

Political lean MEDSL · Pulaski

• 2024 margin: Solid R (+34.2) · D 32.4% · R 66.6% · Other 1.1%
• 2008→2024 swing: -35.6pp toward R · 2008: 1.4pp · 2024: -34.2pp
• All cycles: 2024: R+34.2 2020: R+30.7 2016: R+31.0 2012: R+5.8 2008: D+1.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

2 events — show timeline

• 2026-04-22 Pending — MRED as Distributed by MLS Grid
• 2026-03-13 Listed $68,250 MRED as Distributed by MLS Grid

Property tax history

+1.1%/yr

Latest (2024): $1,371 · +11.2% YoY. Source: county tax records.