1406 N Main St · Georgetown, IL 61846

$49,900

2 bd · 1.0 ba · 775 sqft · Other · 92 Days on market

6,120 sqft lot $64/sqft · 29% below area Est $70k · 29% under

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Why this score? — see what drove the A 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Schools +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Small two bedroom home with large two car garage on corner lot, the property is being marketed in as/is condition with no inspections provided by the owners.

Key facts

• 6,120 sq ft lot
• 2 garage spots
• Listed 92 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $50k.

Deal economics

• At list price, monthly cash flow is $410 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $45k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#783 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: employment D+, schools F, amenities F.
• Market conditions: 2 comparable units currently listed for rent nearby; 8 units permitted in Vermilion County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($345 loan paydown + $5k appreciation (10.0% local appreciation)).
• Vermilion County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 92 days — a 9% lower offer ($45k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $6k; list at $50k implies a 732% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price.

Recommended offer $45,409 (9.0% below list)

Questions for the listing agent

1. It's been on market 92 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 2.09% ✓
• Cap rate: 16.15%
• Cash-on-cash: 35.19%
• DSCR: 2.57
• GRM: 4.0

CMA / ARV

• ARV (median comp): $70,359
• List price: $49,900
• Delta: -29.08%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 51.3%
• Equity multiple: 4.82×
• Total profit: $53,332
• Equity at exit: $44,954

10-year hold

• IRR: 45.0%
• Equity multiple: 10.78×
• Total profit: $136,647
• Equity at exit: $96,945

Cash invested: $13,972 (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 61846

• Home prices YoY: 9.4%
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,042 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$131 /mo · $1,574/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$219
• Net cashflow: $410

Break-even live

Break-even rent $524

Max offer price $49,900

Occupancy floor 56%

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
208 Logan St Georgetown, IL	3.0	1.0	1100	$1,200	$1.09	13d	1	0.90mi
212 Logan St Georgetown, IL	2.0	1.0	1000	$895	$0.90	21d	1	0.93mi

Listing history 14 events

1. 2026-06-17
   days on market $49,900 Active 92 DOM
2. 2026-06-16
   days on market $49,900 Active 91 DOM
3. 2026-06-15
   days on market $49,900 Active 90 DOM
4. 2026-06-13
   days on market $49,900 Active 88 DOM
5. 2026-06-09
   days on market $49,900 Active 84 DOM
6. 2026-06-08
   days on market $49,900 Active 83 DOM
7. 2026-06-07
   days on market $49,900 Active 82 DOM
8. 2026-06-04
   days on market $49,900 Active 79 DOM
9. 2026-06-03
   days on market $49,900 Active 78 DOM
10. 2026-06-02
    days on market $49,900 Active 77 DOM
11. 2026-06-01
    days on market $49,900 Active 76 DOM
12. 2026-05-31
    days on market $49,900 Active 75 DOM
13. 2026-03-17
    listed $49,900 Active 157-char remark

    Show marketing remark (157 chars)

    Small two bedroom home with large two car garage on corner lot, the property is being marketed in as/is condition with no inspections provided by the owners.

14. 1972-05-08
    soldstatus $6,000

ⓘ 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: $1,574 · $131/mo
• Projected year-2 tax: $1,574 · $131/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 3/10 Moderate 7 d/yr ≥103°F today · 18 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,507
• − Mortgage interest: −$2,795
• − Property taxes: −$1,574
• − Insurance: −$250
• − Repairs & maintenance: −$1,001
• − Management: −$1,001
• − Depreciation: −$1,452
• Taxable income: $4,436
• Est. tax owed @ 24.0%: −$1,065
• After-tax cash flow: $3,852/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)

No district data.

Livability — Georgetown

• Score: 63/100
• State rank: #783
• US rank: #15620

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Georgetown, IL
• Population (ZIP): 4,484

Population outlook (Vermilion County) Hauer SSP2

• Today (2025): 72,775 people
• By 2030: 69,235 · -4.9%
• By 2040: 62,360 · -14.3%
• By 2050: 55,539 · -23.7%
• By 2075: 40,606 · -44.2%
• By 2100: 26,985 · -62.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Hispanic / Latino 5% Black 5% Two or more races 4%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 2% Serbian 1% Romanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Vermilion

• 2024 margin: Solid R (+35.7) · D 31.4% · R 67.0% · Other 1.6%
• 2008→2024 swing: -36.2pp toward R · 2008: 0.6pp · 2024: -35.7pp
• All cycles: 2024: R+35.7 2020: R+32.9 2016: R+29.2 2012: R+15.7 2008: D+0.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 21.78%
• Current HPI: 254.5489
• 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

+731.7% since first listed

2 events — show timeline

• 2026-03-17 Listed $49,900 MRED as Distributed by MLS Grid
• 1972-05-08 Sold (Public Records) $6,000 Public Records

Property tax history

+48.7%/yr

Latest (2024): $1,574 · +6.4% YoY. Source: county tax records.