1218 N 8th St #2 · Quincy, IL 62301

$82,500

4 bd · 2.0 ba · 2,341 sqft · MultiFamily · 71 Days on market

Built 1886 Average condition 9,583 sqft lot $35/sqft · 40% above area Est $59k · 40% over ↓ 3% since listing

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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
• Rent growth +5.0/5.0
• Livability +3.4/5.0
• Condition / age +2.8/5.0
• Schools +2.2/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Great up and down duplex with good income $1250/month. Rents could be higher to reflect market. Main floor tenant has been there several years and upstairs is currently vacant. Tenants pay all utilities and each unit has their own meters including water. Many updates the last few years by current owner including: Main floor furnace, new flooring upstairs, new water lines up to the second floor, both units electrical panels, and newer water heaters in both units.

Key facts

• Up and down duplex
• Main floor furnace
• New water lines

Tags

• UP AND DOWN DUPLEX
• TENANTS PAY ALL UTILITIES
• OWN METERS INCLUDING WATER
• MAIN FLOOR FURNACE
• NEW FLOORING UPSTAIRS
• NEW WATER LINES

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $82k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $678/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $82k).
• Recommended offer: $78k (6.0% below list) — sets the bar for market timing.
• Cap rate 26.0% 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: schools D+, crime D, employment 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.
• Market conditions: Rents rising fast (+10.8%/yr); 180 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 68 units permitted in Adams County in 2024 (0 in 5+ unit buildings).
• At $2,437/mo this rent would consume 56% 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 $570 of loan paydown is wiped out by about $2k 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 $23k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($78k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1886 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $77,550 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1886 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.95% ✓
• Cap rate: 26.00%
• Cash-on-cash: 70.39%
• DSCR: 4.13
• GRM: 2.8

CMA / ARV

• ARV (median comp): $58,960
• List price: $82,500
• Delta: 39.93%
• Verdict: OVERPRICED
• Comps: 18 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 75.6%
• Equity multiple: 4.72×
• Total profit: $85,854
• Equity at exit: $12,301

10-year hold

• IRR: 80.7%
• Equity multiple: 11.59×
• Total profit: $244,660
• Equity at exit: $7,133

Cash invested: $23,100 (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: 5.6×

Monthly cashflow live

• Estimated rent: $2,437 medium
• Mortgage (P&I): −$433
• Tax est. 1.5%: −$103 /mo · $1,238/yr
• Insurance: −$34
• HOA: −$0
• Vacancy / Maint / Mgmt: −$512
• Net cashflow: $1,355

Break-even live

Break-even rent $722

Max offer price $82,500

Occupancy floor 39%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,438
Total (2 units)			$2,437

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: $20,625
• Closing costs: $2,475
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
116 N 3rd St Quincy, IL	1.0–4.0	1.0–2.0	1950	$5,600	$2.87	44d	12	1.03mi

Listing history 16 events

1. 2026-06-17
   days on market $82,500 Active 71 DOM
2. 2026-06-16
   days on market $82,500 Active 70 DOM
3. 2026-06-15
   days on market $82,500 Active 69 DOM
4. 2026-06-14
   days on market $82,500 Active 67 DOM
5. 2026-06-13
   price $82,500 Active 66 DOM
6. 2026-06-12
   days on market $86,500 Active 66 DOM
7. 2026-06-09
   days on market $86,500 Active 63 DOM
8. 2026-06-08
   days on market $86,500 Active 62 DOM
9. 2026-06-07
   days on market $86,500 Active 61 DOM
10. 2026-06-03
    days on market $86,500 Active 57 DOM
11. 2026-06-02
    days on market $86,500 Active 56 DOM
12. 2026-06-01
    days on market $86,500 Active 55 DOM
13. 2026-05-31
    days on market $86,500 Active 54 DOM
14. 2026-05-30
    days on market $86,500 Active 53 DOM
15. 2026-04-29
    price $86,500 468-char remark

    Show marketing remark (468 chars)

    Great up and down duplex with good income $1250/month. Rents could be higher to reflect market. Main floor tenant has been there several years and upstairs is currently vacant. Tenants pay all utilities and each unit has their own meters including water. Many updates the last few years by current owner including: Main floor furnace, new flooring upstairs, new water lines up to the second floor, both units electrical panels, and newer water heaters in both units.

16. 2026-04-07
    listed $89,500 Active 468-char remark

    Show marketing remark (468 chars)

    Great up and down duplex with good income $1250/month. Rents could be higher to reflect market. Main floor tenant has been there several years and upstairs is currently vacant. Tenants pay all utilities and each unit has their own meters including water. Many updates the last few years by current owner including: Main floor furnace, new flooring upstairs, new water lines up to the second floor, both units electrical panels, and newer water heaters in both units.

ⓘ 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 ≥107°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: $29,244
• − Mortgage interest: −$4,621
• − Property taxes: −$1,238
• − Insurance: −$412
• − Repairs & maintenance: −$2,340
• − Management: −$2,340
• − Depreciation: −$2,400
• Taxable income: $15,894
• Est. tax owed @ 24.0%: −$3,814
• After-tax cash flow: $12,447/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.

Condition & rehab AI · 12 photos

Average 55/100 Moderate rehab

This two-unit property requires moderate renovations to improve its condition and appeal to renters and buyers. The kitchen and bathrooms need updates, and the HVAC system should be replaced.

Repairs flagged

• Minor kitchen cabinets — existing cabinets show wear
• Minor bathroom fixtures — existing fixtures show wear
• Moderate HVAC system — existing system appears old

Value-add opportunities

• Both new kitchen appliances — modern appliances would attract more renters and buyers
• Both new bathroom fixtures — updated bathrooms would attract more renters and buyers
• Both new HVAC system — a new system would improve comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · existing cabinets show wear	Minor	$500–3,000
bathroom fixtures · existing fixtures show wear	Minor	$500–3,000
HVAC system · existing system appears old	Moderate	$3,000–15,000
Total estimated repair cost · 3 items		$4,000–21,000

Value-add ROI direction

• Both new kitchen appliances — modern appliances would attract more renters and buyers ↑
• Both new bathroom fixtures — updated bathrooms would attract more renters and buyers ↑
• Both new HVAC system — a new system would improve comfort and energy efficiency ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

-3.4% since first listed

2 events — show timeline

• 2026-04-29 Price Changed $86,500 RMLSA as Distributed by MLS Grid
• 2026-04-07 Listed $89,500 RMLSA as Distributed by MLS Grid