612 E Main St · Greenville, IL 62246

$65,000

2 bd · 1.0 ba · 780 sqft · SingleFamily public records · 105 Days on market

Built 1958 4,791 sqft lot $83/sqft · 44% below area Est $117k · 44% 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 +8.0/10.0
• Schools +3.6/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Here's a great opportunity make this house a very nice 2 bedroom home. Wood floors in bedrooms and carpet in living room, but we believe there are hardwoods there too. Efficient kitchen with laundry included. Newer windows and roof is 11 yrs old. Possibilities are endless in this great house.

Key facts

• 4,791 sq ft lot
• Garage
• Built 1958

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $280 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($845 rent vs $65k).
• Recommended offer: $59k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.5% vs local median 3.9% in Greenville — 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 62/100 on livability (#881 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A-; Watch: employment D+, schools F, amenities F.
• Bond County CUSD 2 (town): math 35% / reading 41% proficiency, ranked #345 of 919 in IL (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 61 active listings in the ZIP; 35 units permitted in Bond County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Bond County population projected at -23% 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 $18k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 105 days — a 9% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $59,150 (9.0% below list)

Questions for the listing agent

1. It's been on market 105 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.30% ✓
• Cap rate: 11.47%
• Cash-on-cash: 18.49%
• DSCR: 1.82
• GRM: 6.4

CMA / ARV

• ARV (median comp): $116,679
• List price: $65,000
• Delta: -44.29%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
604 E South St	0.05mi	2/1.0	800 (+3%)	3mo	$149,900	$187	91
818 E Washington Ave	0.32mi	2/1.0	698 (-10%)	2mo	$80,000	$115	66
406 E Winter Ave	0.21mi	2/1.0	858 (+10%)	18mo	$120,000	$140	59
825 Wyatt St	0.47mi	2/1.0	769 (-1%)	23mo	$49,800	$65	56
515 S Prairie St	0.41mi	2/1.0	864 (+11%)	11mo	$59,900	$69	54
1111 E Oak St	0.43mi	2/1.0	840 (+8%)	17mo	$99,500	$118	53
806 S Elm St	0.47mi	2/1.0	866 (+11%)	12mo	$15,000	$17	50
920 E Washington Ave	0.36mi	2/1.0	864 (+11%)	22mo	$89,900	$104	47

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: $7,307
• Equity at exit: $9,692

10-year hold

• IRR: 19.3%
• Equity multiple: 2.61×
• Total profit: $29,263
• Equity at exit: $5,620

Cash invested: $18,200 (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 62246

• Home prices YoY: -21.6%
• Active inventory: 61
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $845 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$19 /mo · $229/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$177
• Net cashflow: $280

Break-even live

Break-even rent $490

Max offer price $65,000

Occupancy floor 62%

Sensitivity live

Price	-10% $317	-5% $299	+0% $280	+5% $262	+10% $244
Rent	-10% $214	-5% $247	+0% $280	+5% $314	+10% $347
Rate	-1.0pp $313	-0.5pp $297	base $280	+0.5pp $264	+1.0pp $247

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $65,000 Active 105 DOM
2. 2026-06-18
   days on market $65,000 Active 103 DOM
3. 2026-06-17
   days on market $65,000 Active 102 DOM
4. 2026-06-16
   days on market $65,000 Active 101 DOM
5. 2026-06-15
   days on market $65,000 Active 100 DOM
6. 2026-06-13
   days on market $65,000 Active 98 DOM
7. 2026-06-12
   days on market $65,000 Active 97 DOM
8. 2026-06-09
   days on market $65,000 Active 94 DOM
9. 2026-06-08
   days on market $65,000 Active 93 DOM
10. 2026-06-07
    days on market $65,000 Active 92 DOM
11. 2026-06-07
    pricedays on market $65,000 Active 91 DOM
12. 2026-06-04
    days on market $67,000 Active 88 DOM
13. 2026-06-02
    days on market $67,000 Active 87 DOM
14. 2026-06-01
    days on market $67,000 Active 86 DOM
15. 2026-05-31
    days on market $67,000 Active 85 DOM
16. 2026-05-31
    days on market $67,000 Active 84 DOM
17. 2026-05-11
    status Active 297-char remark

    Show marketing remark (297 chars)

    Here's a great opportunity make this house a very nice 2 bedroom home. Wood floors in bedrooms and carpet in living room, but we believe there are hardwoods there too. Efficient kitchen with laundry included. Newer windows and roof is 11 yrs old. Possibilities are endless in this great house.

18. 2026-04-25
    historical Active Under Contract 297-char remark

    Show marketing remark (297 chars)

    Here's a great opportunity make this house a very nice 2 bedroom home. Wood floors in bedrooms and carpet in living room, but we believe there are hardwoods there too. Efficient kitchen with laundry included. Newer windows and roof is 11 yrs old. Possibilities are endless in this great house.

19. 2026-03-07
    listed $67,000 Active 297-char remark

    Show marketing remark (297 chars)

    Here's a great opportunity make this house a very nice 2 bedroom home. Wood floors in bedrooms and carpet in living room, but we believe there are hardwoods there too. Efficient kitchen with laundry included. Newer windows and roof is 11 yrs old. Possibilities are endless in this great house.

ⓘ 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: $229 · $19/mo
• Projected year-2 tax: $852 · $71/mo
• Expected delta: +$623/yr (+$52/mo · 272.1%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,140
• − Mortgage interest: −$3,641
• − Property taxes: −$229
• − Insurance: −$325
• − Repairs & maintenance: −$811
• − Management: −$811
• − Depreciation: −$1,891
• Taxable income: $2,431
• Est. tax owed @ 24.0%: −$584
• After-tax cash flow: $2,782/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: Bond County CUSD 2
• NCES district ID: 1717730
• Math proficiency: 35% ▼ -1.00%
• Reading proficiency: 41% ▼ -1.00%
• Median HH income: $51,996
• Composite: 35.52/100
• National rank: #9740
• State rank: #345 of 919 in IL

Livability — Greenville

• Score: 62/100
• State rank: #881
• US rank: #17140

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: Greenville, IL
• Population (ZIP): 9,946

Population outlook (Bond County) Hauer SSP2

• Today (2025): 15,651 people
• By 2030: 15,008 · -4.1%
• By 2040: 13,490 · -13.8%
• By 2050: 12,002 · -23.3%
• By 2075: 9,019 · -42.4%
• By 2100: 6,539 · -58.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Black 11% Hispanic / Latino 6% Two or more races 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Lithuanian 4% Serbian 2% Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Bond

• 2024 margin: Solid R (+44.8) · D 26.5% · R 71.3% · Other 2.2%
• 2008→2024 swing: -43.5pp toward R · 2008: -1.3pp · 2024: -44.8pp
• All cycles: 2024: R+44.8 2020: R+41.0 2016: R+37.8 2012: R+14.7 2008: R+1.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -46.39%
• Current HPI: 168.0802
• 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

3 events — show timeline

• 2026-05-11 Relisted — MARIS as Distributed by MLS Grid
• 2026-04-25 Contingent — MARIS as Distributed by MLS Grid
• 2026-03-07 Listed $67,000 MARIS as Distributed by MLS Grid

Property tax history

-2.8%/yr

Latest (2024): $229 · -5.4% YoY. Source: county tax records.