227 E Main St · Havana, IL 62644

$99,900

2 bd · 1.0 ba · 790 sqft · Other · 1 Days on market

Built 1909

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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 +27.3/30.0
• DSCR +9.5/10.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Come see this cozy home on a corner lot! Walk up to an enclosed front porch and into a quaint living and informal dining area. Cute eat-in kitchen has refrigerator and stove. Roomy master bedroom has of plenty storage. This 2 bedroom/1 bath home has a second bedroom that can be used as an office or den. Back porch laundry area complete with washer, dryer and storage. There is a deck of back of the home. Home has attached carport for your parking needs. Within walking distance for you to enjoy historic downtown Havana and all it has to offer.

Key facts

• Parking
• Built 1909

Property features AI

Exterior

• Parking: Carport
• Utilities: Public water; Public sewer
• Home design: Single family residence; Built in 1909
• Construction: Has basement (partial, unfinished)
• Exterior features: Shingle roof; Corner lot; Paved road access; Lot dimensions approximately 132 x 87 x 66 x 45 x 66 x 132

Interior

• Kitchen: Refrigerator
• Bedrooms: 2 bedrooms (both on the main level)
• Flooring: Carpet in living and dining rooms; Vinyl in kitchen and laundry; Other flooring in bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot water heating; Gas water heater
• Interior features: Partial, unfinished basement; No fireplaces
• Laundry & utility: Washer; Dryer; Laundry room on main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $100k.

Deal economics

• At list price, monthly cash flow is $288 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).

Location & tenants

• Location reads 60/100 on livability (#989 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Havana CUSD 126 (town): math 17% / reading 22% proficiency, ranked #448 of 620 in IL (top 72%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Havana High School (math 15% / reading 24%, grade F, #379 of 693 statewide, top 57%, 279 students, 0% FRL) — zoned schools average 0% FRL vs 47% district-wide (47 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 36 active listings in the ZIP; 7 units permitted in Mason County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Mason County population projected at -30% 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 $28k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $29k; list at $100k implies a 244% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1909 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $99,900

Questions for the listing agent

1. Built in 1909 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. Crime grade is F 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?
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: 1.20% ✓
• Cap rate: 9.75%
• Cash-on-cash: 12.34%
• DSCR: 1.55
• GRM: 7.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 2.0%
• Equity multiple: 1.08×
• Total profit: $2,133
• Equity at exit: $14,895

10-year hold

• IRR: 11.6%
• Equity multiple: 1.91×
• Total profit: $25,439
• Equity at exit: $8,638

Cash invested: $27,972 (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 62644

• Home prices YoY: -14.0%
• Active inventory: 36
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,194 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$90 /mo · $1,083/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$251
• Net cashflow: $288

Break-even live

Break-even rent $830

Max offer price $99,900

Occupancy floor 71%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-04-29
   status Pending
2. 2026-04-21
   historical $99,900
3. 2020-08-07
   soldstatus $29,000 547-char remark

   Show marketing remark (547 chars)

   Come see this cozy home on a corner lot! Walk up to an enclosed front porch and into a quaint living and informal dining area. Cute eat-in kitchen has refrigerator and stove. Roomy master bedroom has of plenty storage. This 2 bedroom/1 bath home has a second bedroom that can be used as an office or den. Back porch laundry area complete with washer, dryer and storage. There is a deck of back of the home. Home has attached carport for your parking needs. Within walking distance for you to enjoy historic downtown Havana and all it has to offer.

4. 2019-08-09
   listed $32,000 547-char remark

   Show marketing remark (547 chars)

   Come see this cozy home on a corner lot! Walk up to an enclosed front porch and into a quaint living and informal dining area. Cute eat-in kitchen has refrigerator and stove. Roomy master bedroom has of plenty storage. This 2 bedroom/1 bath home has a second bedroom that can be used as an office or den. Back porch laundry area complete with washer, dryer and storage. There is a deck of back of the home. Home has attached carport for your parking needs. Within walking distance for you to enjoy historic downtown Havana and all it has to offer.

ⓘ 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: $1,083 · $90/mo
• Projected year-2 tax: $1,675 · $140/mo
• Expected delta: +$593/yr (+$49/mo · 54.7%)

ⓘ 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 ≥107°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: $14,331
• − Mortgage interest: −$5,596
• − Property taxes: −$1,083
• − Insurance: −$500
• − Repairs & maintenance: −$1,146
• − Management: −$1,146
• − Depreciation: −$2,906
• Taxable income: $1,953
• Est. tax owed @ 24.0%: −$469
• After-tax cash flow: $2,984/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: Havana CUSD 126
• NCES district ID: 1718510
• Math proficiency: 17% ▼ -10.00%
• Reading proficiency: 22% ▼ -16.00%
• Median HH income: $39,881
• Composite: 16.52/100
• National rank: #9181
• State rank: #448 of 620 in IL

Livability — Havana

• Score: 60/100
• State rank: #989
• US rank: #19077

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Havana, IL
• City population: 4,657
• Population (ZIP): 4,657

Population outlook (Mason County) Hauer SSP2

• Today (2025): 12,087 people
• By 2030: 11,283 · -6.7%
• By 2040: 9,766 · -19.2%
• By 2050: 8,421 · -30.3%
• By 2075: 5,785 · -52.1%
• By 2100: 3,888 · -67.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 3% Hispanic / Latino 3%
• Common ancestry: Slovak 3% Lithuanian 2% Italian 2%
• Foreign-born: 1% · Canada, Jamaica
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Mason

• 2024 margin: Solid R (+42.2) · D 27.8% · R 70.1% · Other 2.1%
• 2008→2024 swing: -48.1pp toward R · 2008: 5.9pp · 2024: -42.2pp
• All cycles: 2024: R+42.2 2020: R+39.5 2016: R+31.8 2012: R+6.3 2008: D+5.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -18.81%
• Current HPI: 115.1077
• 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

+212.2% since first listed

4 events — show timeline

• 2026-04-29 Pending — RMLSA as Distributed by MLS Grid
• 2026-04-21 Coming Soon $99,900 RMLSA as Distributed by MLS Grid
• 2020-08-07 Sold (MLS) $29,000 RMLSA as Distributed by MLS Grid
• 2019-08-09 Listed $32,000 RMLSA as Distributed by MLS Grid

Property tax history

+29.3%/yr

Latest (2024): $1,083 · +126.4% YoY. Source: county tax records.