1621 Edgar Ave · Mattoon, IL 61938

$82,500

3 bd · 2.0 ba · 1,560 sqft · SingleFamily public records · 51 Days on market

Built 1892 3,485 sqft lot $53/sqft · 19% below area Est $102k · 19% under

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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 +25.2/30.0
• ARV discount +15.0/15.0
• DSCR +8.3/10.0
• 1% rule +6.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great potential for rental property. Cozy, unique and a corner lot. Large open kitchen, ample counter space with large walk-in pantry. Spacious master bedroom downstairs. Make an appointment and check this one out.

Key facts

• 3,485 sq ft lot
• Built 1892
• Listed 50 days

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single family residence; Two levels / 2 stories
• Construction: Masonite siding; Asphalt roof; Built with crawl space foundation
• Exterior features: Patio; Public maintained road access; City street frontage

Interior

• Kitchen: Oven; Range; Refrigerator
• Bedrooms: Total of 6 rooms (bedroom count not specified)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Window unit cooling
• Interior features: Pantry; Crawl space basement
• Laundry & utility: Laundry on main level; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $82k.

Deal economics

• At list price, monthly cash flow is $186 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($948 rent vs $82k).
• Recommended offer: $80k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.0% vs local median 3.6% in Mattoon — 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 64/100 on livability (#706 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D, schools D-, amenities F.
• Mattoon CUSD 2 (town): math 13% / reading 24% proficiency, ranked #462 of 620 in IL (top 74%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 117 active listings in the ZIP; 34 units permitted in Coles County in 2024 (30 in 5+ unit buildings).

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.
• Coles County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($80k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 11y ago 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.
• Current owner paid $22k; list at $82k implies a 267% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1892 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $80,025 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 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 1892 — 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. 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?
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: 1.15% ✓
• Cap rate: 9.00%
• Cash-on-cash: 9.66%
• DSCR: 1.43
• GRM: 7.2

CMA / ARV

• ARV (median comp): $102,246
• List price: $82,500
• Delta: -19.31%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
705 S 16th St	0.16mi	3/1.0	1,472 (-6%)	8mo	$90,000	$61	73
716 S 24th St	0.51mi	4/2.5 (+1)	1,544 (-1%)	3mo	$230,000	$149	65
1208 S 17th St	0.50mi	3/2.0	1,444 (-7%)	1mo	$203,000	$141	64
705 Marion Ave	0.71mi	3/2.0	1,562 (+0%)	4mo	$146,500	$94	64
900 Lafayette Ave	0.56mi	3/1.5	1,600 (+3%)	9mo	$104,000	$65	60
1821 Dakota Ave	0.45mi	3/2.0	1,720 (+10%)	6mo	$132,500	$77	57
1701 Dewitt Ave	0.74mi	3/2.0	1,547 (-1%)	9mo	$185,000	$120	56
1100 Marshall Ave	0.43mi	3/2.5	1,740 (+12%)	4mo	$255,000	$147	55
913 Lafayette Ave	0.53mi	3/1.0	1,364 (-13%)	5mo	$165,000	$121	46
913 Lafayette Ave	0.53mi	3/1.0	1,364 (-13%)	5mo	$165,000	$121	46
1120 Broadway Ave	0.48mi	4/1.5 (+1)	1,770 (+14%)	6mo	$140,000	$79	43
2408 Essex Ave	0.72mi	3/1.5	1,364 (-13%)	9mo	$178,000	$130	36

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: -1.7%
• Equity multiple: 0.93×
• Total profit: $-1,517
• Equity at exit: $12,301

10-year hold

• IRR: 8.0%
• Equity multiple: 1.60×
• Total profit: $13,967
• 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 61938

• Active inventory: 117
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $948 medium
• Mortgage (P&I): −$433
• Tax from tax record: −$96 /mo · $1,157/yr
• Insurance: −$34
• HOA: −$0
• Vacancy / Maint / Mgmt: −$199
• Net cashflow: $186

Break-even live

Break-even rent $713

Max offer price $82,500

Occupancy floor 75%

Sensitivity live

Price	-10% $233	-5% $209	+0% $186	+5% $163	+10% $139
Rent	-10% $111	-5% $148	+0% $186	+5% $223	+10% $261
Rate	-1.0pp $227	-0.5pp $207	base $186	+0.5pp $165	+1.0pp $143

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: —

Listing history 24 events

1. 2026-06-19
   days on market $82,500 Active 51 DOM
2. 2026-06-18
   days on market $82,500 Active 50 DOM
3. 2026-06-17
   days on market $82,500 Active 49 DOM
4. 2026-06-16
   days on market $82,500 Active 48 DOM
5. 2026-06-15
   days on market $82,500 Active 47 DOM
6. 2026-06-14
   days on market $82,500 Active 45 DOM
7. 2026-06-12
   days on market $82,500 Active 44 DOM
8. 2026-06-09
   days on market $82,500 Active 41 DOM
9. 2026-06-08
   days on market $82,500 Active 40 DOM
10. 2026-06-07
    days on market $82,500 Active 39 DOM
11. 2026-06-03
    days on market $82,500 Active 35 DOM
12. 2026-06-02
    days on market $82,500 Active 34 DOM
13. 2026-06-01
    days on market $82,500 Active 33 DOM
14. 2026-05-31
    days on market $82,500 Active 32 DOM
15. 2026-05-30
    days on market $82,500 Active 31 DOM
16. 2026-04-29
    listed $82,500 Active 576-char remark
17. 2025-10-17
    historical $1,200
18. 2025-09-04
    listed $1,200
19. 2024-04-10
    historical
20. 2024-03-10
    listed
21. 2015-11-06
    soldstatus $22,500 218-char remark

    Show marketing remark (214 chars)

    Great potential for rental property. Cozy, unique and a corner lot. Large open kitchen, ample counter space with large walk-in pantry. Spacious master bedroom downstairs. Make an appointment and check this one out.

22. 2015-11-06
    soldstatus $22,500

    Show marketing remark (214 chars)

    Great potential for rental property. Cozy, unique and a corner lot. Large open kitchen, ample counter space with large walk-in pantry. Spacious master bedroom downstairs. Make an appointment and check this one out.

23. 2015-09-10
    listed $29,000 218-char remark

    Show marketing remark (214 chars)

    Great potential for rental property. Cozy, unique and a corner lot. Large open kitchen, ample counter space with large walk-in pantry. Spacious master bedroom downstairs. Make an appointment and check this one out.

24. 2015-09-10
    listed $29,000

    Show marketing remark (214 chars)

    Great potential for rental property. Cozy, unique and a corner lot. Large open kitchen, ample counter space with large walk-in pantry. Spacious master bedroom downstairs. Make an appointment and check this one out.

ⓘ 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: $1,157 · $96/mo
• Projected year-2 tax: $1,515 · $126/mo
• Expected delta: +$358/yr (+$30/mo · 31.0%)

ⓘ 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 ≥104°F today · 19 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: $11,382
• − Mortgage interest: −$4,621
• − Property taxes: −$1,157
• − Insurance: −$412
• − Repairs & maintenance: −$911
• − Management: −$911
• − Depreciation: −$2,400
• Taxable income: $970
• Est. tax owed @ 24.0%: −$233
• After-tax cash flow: $1,998/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: Mattoon CUSD 2
• NCES district ID: 1725050
• Math proficiency: 13% ▼ -9.00%
• Reading proficiency: 24% ▼ -12.00%
• Median HH income: $40,452
• Composite: 15.71/100
• National rank: #9280
• State rank: #462 of 620 in IL

Livability — Mattoon

• Score: 64/100
• State rank: #706
• US rank: #14352

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mattoon, IL
• County: Coles County · 41,301 people
• City population: 20,350
• Metro: Charleston-Mattoon, IL
• Population (ZIP): 20,350
• Household income: $57,503
• Rent vs Own: 38.8% rent · 61.2% own
• Severe rent burden: 453.0

Population outlook (Coles County) Hauer SSP2

• Today (2025): 53,967 people
• By 2030: 53,829 · -0.3%
• By 2040: 52,332 · -3.0%
• By 2050: 49,989 · -7.4%
• By 2075: 42,226 · -21.8%
• By 2100: 34,675 · -35.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 5% Hispanic / Latino 3% Black 2%
• Common ancestry: Italian 2% Slovak 2% Serbian 1%
• Foreign-born: 1%
• Languages at home: 97% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Coles

• 2024 margin: Strong R (+28.5) · D 34.9% · R 63.4% · Other 1.7%
• 2008→2024 swing: -31.7pp toward R · 2008: 3.2pp · 2024: -28.5pp
• All cycles: 2024: R+28.5 2020: R+26.4 2016: R+26.4 2012: R+11.1 2008: D+3.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -103.29%
• Current HPI: 133.8791
• Rent YoY: —
• Metro: Charleston-Mattoon, IL
• 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

+184.5% since first listed

9 events — show timeline

• 2026-04-29 Listed $82,500 CIBR
• 2025-10-17 Rental Removed $1,200 RENTEC
• 2025-09-04 Listed for Rent $1,200 RENTEC
• 2024-04-10 Rental Removed — RENTEC
• 2024-03-10 Listed for Rent — RENTEC
• 2015-11-06 Sold (MLS) $22,500 CIBR
• 2015-11-06 Sold (MLS) $22,500 MRED as Distributed by MLS Grid
• 2015-09-10 Listed $29,000 CIBR
• 2015-09-10 Listed $29,000 MRED as Distributed by MLS Grid

Property tax history

-1.5%/yr

Latest (2025): $1,157 · +2.9% YoY. Source: county tax records.