300 W Allmon St · Salem, IL 62881

$89,000

3 bd · 1.0 ba · 1,230 sqft · SingleFamily · 46 Days on market

Built 1910 6,750 sqft lot Est $109k · 19% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• Livability +3.4/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• 6,750 sq ft lot
• Built 1910
• Listed 46 days

Property features AI

Finance

• Other: Lot approximately 50 x 135 (less than 0.25 acre); Lot size per county records; Parcel number 1100013255
• HOA & community: No master association fees required

Exterior

• Parking: Gravel parking
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; One-story/main level living; Owned fee simple; Property over 100 years old; School bus service available
• Construction: Vinyl siding; Shake roof; Block foundation; Not rebuilt or rehabilitated
• Exterior features: Front porch

Interior

• Kitchen: Kitchen on main level (14 x 15)
• Bedrooms: Master bedroom on main level (13 x 10) with full bath access; Bedroom on main level (12 x 11); Bedroom on main level (12 x 10)
• Flooring: Carpet in living room and two bedrooms; Vinyl flooring in kitchen and master bedroom
• Bathrooms: One full bathroom
• Heating & cooling: Central air; Other heating type
• Interior features: Five total rooms; Crawl space basement; Some photos virtually staged
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $385 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• Recommended offer: $86k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.5% vs local median 5.6% in Salem — 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 68/100 on livability (#467 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D, amenities F, commute F.
• Salem Chsd 600 (town): math 25% / reading 30% proficiency, ranked #571 of 919 in IL (top 62%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 49 active listings in the ZIP; 2 units permitted in Marion County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $615 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Marion County population projected at -20% 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 $25k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($86k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 26y ago; this cycle's ask has dropped $10k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $60k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $86,330 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 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 1910 — 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 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?
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: 1.33% ✓
• Cap rate: 11.48%
• Cash-on-cash: 18.52%
• DSCR: 1.82
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $109,470
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
727 N Broadway Ave	0.13mi	3/1.0	1,375 (+12%)	2mo	$84,800	$62	73
416 S Maple St	0.53mi	3/1.0	1,259 (+2%)	2mo	$112,500	$89	70
1201 N Franklin St	0.44mi	3/2.0	1,255 (+2%)	5mo	$160,000	$127	68
441 N Ohio Ave	0.34mi	2/1.0 (-1)	1,184 (-4%)	6mo	$126,000	$106	68
501 W Mcmackin St	0.42mi	2/1.0 (-1)	1,292 (+5%)	1mo	$8,000	$6	66
120 E Bennett St	0.23mi	3/1.5	1,407 (+14%)	2mo	$138,990	$99	62
511 N Shelby St	0.50mi	3/1.0	1,092 (-11%)	1mo	$80,000	$73	57
521 W Park St	0.49mi	3/1.0	1,089 (-12%)	8mo	$150,000	$138	51
527 S Rotan St	0.68mi	3/1.0	1,134 (-8%)	6mo	$95,000	$84	50
1409 Rig	0.64mi	3/1.0	1,326 (+8%)	9mo	$135,000	$102	50
1022 W Boone St	0.48mi	2/1.0 (-1)	1,408 (+14%)	2mo	$65,000	$46	47
304 S Castle St	0.52mi	4/2.0 (+1)	1,366 (+11%)	8mo	$68,000	$50	42

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: 10.2%
• Equity multiple: 1.40×
• Total profit: $10,058
• Equity at exit: $13,270

10-year hold

• IRR: 19.3%
• Equity multiple: 2.61×
• Total profit: $40,224
• Equity at exit: $7,695

Cash invested: $24,920 (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 62881

• Home prices YoY: -28.0%
• Active inventory: 49
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,187 medium
• Mortgage (P&I): −$467
• Tax from tax record: −$49 /mo · $587/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$249
• Net cashflow: $385

Break-even live

Break-even rent $700

Max offer price $89,000

Occupancy floor 63%

Sensitivity live

Price	-10% $435	-5% $410	+0% $385	+5% $359	+10% $334
Rent	-10% $291	-5% $338	+0% $385	+5% $432	+10% $478
Rate	-1.0pp $429	-0.5pp $407	base $385	+0.5pp $362	+1.0pp $338

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Listing history 38 events

1. 2026-06-21
   days on market $89,000 Active 46 DOM
2. 2026-06-18
   days on market $89,000 Active 44 DOM
3. 2026-06-17
   days on market $89,000 Active 43 DOM
4. 2026-06-16
   days on market $89,000 Active 42 DOM
5. 2026-06-15
   days on market $89,000 Active 41 DOM
6. 2026-06-13
   days on market $89,000 Active 39 DOM
7. 2026-06-12
   days on market $89,000 Active 38 DOM
8. 2026-06-09
   days on market $89,000 Active 35 DOM
9. 2026-06-08
   days on market $89,000 Active 34 DOM
10. 2026-06-07
    days on market $89,000 Active 33 DOM
11. 2026-06-07
    days on market $89,000 Active 32 DOM
12. 2026-06-04
    days on market $89,000 Active 29 DOM
13. 2026-06-02
    days on market $89,000 Active 28 DOM
14. 2026-06-01
    days on market $89,000 Active 27 DOM
15. 2026-05-31
    days on market $89,000 Active 26 DOM
16. 2026-05-31
    days on market $89,000 Active 25 DOM
17. 2026-05-18
    price $89,000
18. 2025-12-17
    historical
19. 2025-04-09
    price $89,900
20. 2025-04-04
    listed $98,500 Active
21. 2023-02-07
    soldstatus $60,000
22. 2023-02-07
    soldstatus $60,000 Closed
23. 2023-01-07
    historical Under Contract
24. 2022-11-11
    status Active
25. 2022-11-09
    historical Under Contract
26. 2022-11-09
    listed $65,000
27. 2022-11-09
    listed $65,000 Active
28. 2021-08-07
    historical
29. 2016-07-29
    soldstatus $51,000
30. 2016-07-29
    soldstatus $51,000
31. 2016-03-16
    listed $55,500
32. 2016-03-16
    listed $55,500
33. 2009-11-20
    soldstatus $46,500
34. 2009-11-20
    soldstatus $46,500
35. 2009-10-08
    listed $49,900
36. 2009-10-08
    listed $49,900
37. 2000-12-18
    soldstatus $29,500
38. 2000-10-25
    listed $34,500

ⓘ 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: $587 · $49/mo
• Projected year-2 tax: $1,304 · $109/mo
• Expected delta: +$717/yr (+$60/mo · 122.0%)

ⓘ 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 4/10 Moderate 7 d/yr ≥106°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $14,239
• − Mortgage interest: −$4,985
• − Property taxes: −$587
• − Insurance: −$445
• − Repairs & maintenance: −$1,139
• − Management: −$1,139
• − Depreciation: −$2,589
• Taxable income: $3,354
• Est. tax owed @ 24.0%: −$805
• After-tax cash flow: $3,811/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: Salem Chsd 600
• NCES district ID: 1735190
• Math proficiency: 25% ▲ 10.00%
• Reading proficiency: 30% ▲ 5.00%
• Median HH income: $39,305
• Composite: 26.04/100
• National rank: #12738
• State rank: #571 of 919 in IL

Livability — Salem

• Score: 68/100
• State rank: #467
• US rank: #9634

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Salem, IL
• City population: 11,218
• Population (ZIP): 11,218

Population outlook (Marion County) Hauer SSP2

• Today (2025): 36,071 people
• By 2030: 34,598 · -4.1%
• By 2040: 31,754 · -12.0%
• By 2050: 28,912 · -19.8%
• By 2075: 22,527 · -37.5%
• By 2100: 16,455 · -54.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Black 3% Two or more races 2%
• Common ancestry: Romanian 2% Italian 2% Iranian 2%
• Foreign-born: 1%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Marion

• 2024 margin: Solid R (+49.5) · D 24.6% · R 74.1% · Other 1.4%
• 2008→2024 swing: -47.5pp toward R · 2008: -2.0pp · 2024: -49.5pp
• All cycles: 2024: R+49.5 2020: R+46.6 2016: R+44.9 2012: R+19.2 2008: R+2.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -63.16%
• Current HPI: 162.55
• 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

+158.0% since first listed

22 events — show timeline

• 2026-05-18 Price Changed $89,000 MRED as Distributed by MLS Grid
• 2025-12-17 Listing Removed — MRED as Distributed by MLS Grid
• 2025-04-09 Price Changed $89,900 CIBR
• 2025-04-04 Listed $98,500 CIBR
• 2023-02-07 Sold (MLS) $60,000 RMLSA as Distributed by MLS Grid
• 2023-02-07 Sold (MLS) $60,000 MRED as Distributed by MLS Grid
• 2023-01-07 Contingent — RMLSA as Distributed by MLS Grid
• 2022-11-11 Relisted — RMLSA as Distributed by MLS Grid
• 2022-11-09 Contingent — RMLSA as Distributed by MLS Grid
• 2022-11-09 Listed $65,000 RMLSA as Distributed by MLS Grid
• 2022-11-09 Listed $65,000 MRED as Distributed by MLS Grid
• 2021-08-07 Listing Removed — RMLSA as Distributed by MLS Grid
• 2016-07-29 Sold (MLS) $51,000 MRED as Distributed by MLS Grid
• 2016-07-29 Sold (MLS) $51,000 RMLSA as Distributed by MLS Grid
• 2016-03-16 Listed $55,500 MRED as Distributed by MLS Grid
• 2016-03-16 Listed $55,500 RMLSA as Distributed by MLS Grid
• 2009-11-20 Sold (MLS) $46,500 MRED as Distributed by MLS Grid
• 2009-11-20 Sold (MLS) $46,500 RMLSA as Distributed by MLS Grid
• 2009-10-08 Listed $49,900 MRED as Distributed by MLS Grid
• 2009-10-08 Listed $49,900 RMLSA as Distributed by MLS Grid
• 2000-12-18 Sold (MLS) $29,500 RMLSA as Distributed by MLS Grid
• 2000-10-25 Listed $34,500 RMLSA as Distributed by MLS Grid

Property tax history

+5.3%/yr

Latest (2024): $587 · +5.2% YoY. Source: county tax records.