304 Buchanan St · Ashland, IL 62612

$94,900

3 bd · 1.0 ba · 960 sqft · Other public records · 43 Days on market

Built 1940 0.39 ac lot $99/sqft · 8% above area Est $88k · 8% over

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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 +20.9/30.0
• DSCR +6.6/10.0
• 1% rule +5.9/10.0
• ARV discount +4.1/15.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this charming 4 bedroom property that offers more space than meets the eye. Inside, you will find a surprisingly spacious layout featuring a large kitchen, generous bathroom, and a cozy fireplace that adds warmth and character. The expansive yard provides plenty of room for outdoor enjoyment, while the 2 car detached garage and additional 1 car detached garage offers abundant space for vehicles, storage, hobbies, or a workshop. Located in a quiet community with small-town schools, this home is full of potential and ready for its next owner to make it their own. A great opportunity to add your personal touch while enjoying the comfort and charm of small-town living.

Key facts

• 0.39 acre lot
• 3 garage spots
• Built 1940

Property features AI

Exterior

• Parking: Detached 3-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One level / single-story
• Construction: Stone and stucco construction; Crawl space foundation; Built in 2026
• Exterior features: Shingle roof; Concrete and gravel road access; R-1 zoning

Interior

• Kitchen: Oven
• Bedrooms: 6 total rooms (includes bedrooms and living spaces)
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Natural gas forced-air heating
• Interior features: Gas water heater; Oven; One fireplace
• Laundry & utility: Main level laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $95k.

Deal economics

• At list price, monthly cash flow is $132 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $92k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#875 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.
• A-C Central CUSD 262 (rural): math 15% / reading 25% proficiency, ranked #691 of 919 in IL (top 75%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 6 active listings in the ZIP; 2 units permitted in Cass County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $656 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Cass County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $30k; list at $95k implies a 222% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $92,053 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 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 1940 — 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. 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: 1.09% ✓
• Cap rate: 7.96%
• Cash-on-cash: 5.95%
• DSCR: 1.26
• GRM: 7.7

CMA / ARV

• ARV (median comp): $88,162
• List price: $94,900
• Delta: 7.64%
• Verdict: FAIR
• Comps: 4 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -7.1%
• Equity multiple: 0.74×
• Total profit: $-6,950
• Equity at exit: $14,150

10-year hold

• IRR: 2.6%
• Equity multiple: 1.18×
• Total profit: $4,891
• Equity at exit: $8,205

Cash invested: $26,572 (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 62612

• Home prices YoY: -15.3%
• Active inventory: 6
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,032 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$146 /mo · $1,751/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$217
• Net cashflow: $132

Break-even live

Break-even rent $865

Max offer price $94,900

Occupancy floor 82%

Sensitivity live

Price	-10% $186	-5% $159	+0% $132	+5% $105	+10% $78
Rent	-10% $50	-5% $91	+0% $132	+5% $173	+10% $213
Rate	-1.0pp $180	-0.5pp $156	base $132	+0.5pp $107	+1.0pp $82

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: $23,725
• Closing costs: $2,847
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $94,900 Active 43 DOM
2. 2026-06-18
   days on market $94,900 Active 41 DOM
3. 2026-06-17
   days on market $94,900 Active 40 DOM
4. 2026-06-16
   days on market $94,900 Active 39 DOM
5. 2026-06-16
   remarks 689-char remark
6. 2026-06-16
   price $94,900 Active 38 DOM
7. 2026-06-15
   days on market $99,900 Active 38 DOM
8. 2026-06-13
   days on market $99,900 Active 36 DOM
9. 2026-06-12
   days on market $99,900 Active 35 DOM
10. 2026-06-09
    days on market $99,900 Active 32 DOM
11. 2026-06-08
    days on market $99,900 Active 31 DOM
12. 2026-06-07
    days on market $99,900 Active 30 DOM
13. 2026-06-05
    days on market $99,900 Active 28 DOM
14. 2026-06-04
    days on market $99,900 Active 26 DOM
15. 2026-06-02
    days on market $99,900 Active 25 DOM
16. 2026-06-01
    days on market $99,900 Active 24 DOM
17. 2026-05-31
    days on market $99,900 Active 23 DOM
18. 2026-05-31
    days on market $99,900 Active 22 DOM
19. 2026-05-08
    listed $99,900 Active 242-char remark
20. 1976-08-11
    soldstatus $29,500

ⓘ 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: $1,751 · $146/mo
• Projected year-2 tax: $1,953 · $163/mo
• Expected delta: +$202/yr (+$17/mo · 11.5%)

ⓘ 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 3/10 Moderate 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $12,379
• − Mortgage interest: −$5,316
• − Property taxes: −$1,751
• − Insurance: −$474
• − Repairs & maintenance: −$990
• − Management: −$990
• − Depreciation: −$2,761
• Taxable income: $96
• Est. tax owed @ 24.0%: −$23
• After-tax cash flow: $1,559/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: A-C Central CUSD 262
• NCES district ID: 1700105
• Math proficiency: 15% ▬ 0.00%
• Reading proficiency: 25% ▲ 5.00%
• Median HH income: $53,111
• Composite: 21.43/100
• National rank: #13637
• State rank: #691 of 919 in IL

Livability — Ashland

• Score: 62/100
• State rank: #875
• US rank: #17006

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ashland, IL
• Population (ZIP): 1,490

Population outlook (Cass County) Hauer SSP2

• Today (2025): 11,533 people
• By 2030: 10,842 · -6.0%
• By 2040: 9,523 · -17.4%
• By 2050: 8,253 · -28.4%
• By 2075: 5,555 · -51.8%
• By 2100: 3,375 · -70.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Two or more races 1%
• Common ancestry: English 2% Lithuanian 1% Serbian 1%

Political lean MEDSL · Cass

• 2024 margin: Solid R (+43.4) · D 27.4% · R 70.8% · Other 1.7%
• 2008→2024 swing: -44.7pp toward R · 2008: 1.4pp · 2024: -43.4pp
• All cycles: 2024: R+43.4 2020: R+37.7 2016: R+31.6 2012: R+13.5 2008: D+1.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -29.05%
• Current HPI: 160.7689
• 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

+221.7% since first listed

3 events — show timeline

• 2026-06-15 Price Changed $94,900 CIBR
• 2026-05-08 Listed $99,900 CIBR
• 1976-08-11 Sold (Public Records) $29,500 Public Records

Property tax history

-0.7%/yr

Latest (2024): $1,751 · -2.7% YoY. Source: county tax records.