414 N Main St · Sullivan, IL 61951

$129,900

2 bd · 1.0 ba · 1,217 sqft · MultiFamily public records · 23 Days on market

Built 1963 3,875 sqft lot $107/sqft · 22% above area Est $107k · 22% over

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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 +28.5/30.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

LOCATION, LOCATION! WALK TO PARKS, SCHOOLS, CIVIC CENTER AND DOWNTOWN! THIS IS THE WEST UNIT OF A WELL BUILT BRICK DUPLEX. IT HAS 2 BEDROOMS, A REMODELED BATHROOM, A LARGE LIVINGROOM, A SPACIOUS EAT-IN KITCHEN AND A UTILITY ROOM LEADING TO THE ATTACHED GARAGE! THE HOME HAS OAK HARDWOOD FLOORS THOUGHOUT! NEW FURNACE 2024, HOTWATER HEATER 2025, ROOF 2011. COME TAKE A LOOK!

Key facts

• Remodeled bathroom
• Walk to downtown
• Walk to parks

Tags

• WALK TO PARKS
• WALK TO SCHOOLS
• WALK TO CIVIC CENTER
• WALK TO DOWNTOWN
• WELL BUILT BRICK DUPLEX
• REMODELED BATHROOM

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water; Public sewer; Gas and electric available
• Home design: Single-family residence; One story
• Construction: Brick construction; Asphalt shingle roof; Built on crawl space foundation
• Exterior features: Patio; Concrete road access

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 5 total rooms (includes bedrooms and living areas)
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating with forced air; Central air conditioning
• Interior features: Gas water heater; Range; Refrigerator; Crawl space basement
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath multifamily listed at $130k.

Deal economics

• At list price, monthly cash flow is $425 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $128k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.2% vs local median 6.4% in Sullivan — 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 65/100 on livability (#647 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, schools F, amenities F.
• Sullivan CUSD 300 (town): math 21% / reading 28% proficiency, ranked #338 of 620 in IL (top 54%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 42 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 42 units permitted in Moultrie County in 2024 (20 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $898 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Moultrie County population projected at -12% 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 $36k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.

Recommended offer $127,951 (1.5% below list)

Questions for the listing agent

1. Built in 1963 — 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 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?
4. 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.
5. 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.
6. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.29% ✓
• Cap rate: 10.22%
• Cash-on-cash: 14.02%
• DSCR: 1.62
• GRM: 6.5

CMA / ARV

• ARV (median comp): $106,627
• List price: $129,900
• Delta: 21.83%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 4.3%
• Equity multiple: 1.17×
• Total profit: $6,036
• Equity at exit: $19,369

10-year hold

• IRR: 13.8%
• Equity multiple: 2.11×
• Total profit: $40,200
• Equity at exit: $11,231

Cash invested: $36,372 (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 61951

• Home prices YoY: -7.6%
• Active inventory: 42
• Price-to-rent: 13.0×

Monthly cashflow live

• Estimated rent: $1,672 medium
• Mortgage (P&I): −$681
• Tax from tax record: −$161 /mo · $1,928/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$351
• Net cashflow: $425

Break-even live

Break-even rent $1,134

Max offer price $129,900

Occupancy floor 70%

Sensitivity live

Price	-10% $498	-5% $462	+0% $425	+5% $388	+10% $351
Rent	-10% $293	-5% $359	+0% $425	+5% $491	+10% $557
Rate	-1.0pp $490	-0.5pp $458	base $425	+0.5pp $391	+1.0pp $357

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,672
Total (2 units)			$1,672

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1612 S Hamilton St Sullivan, IL	2.0–3.0	2.0	1057	$1,250	$1.18	14d	3	1.45mi

Listing history 4 events

1. 2026-05-17
   historical Active Under Contract 373-char remark
2. 2026-05-06
   listed $129,900 Active 373-char remark
3. 2026-03-02
   soldstatus $160,000
4. 2011-06-17
   soldstatus $89,000

ⓘ 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: $1,928 · $161/mo
• Projected year-2 tax: $2,438 · $203/mo
• Expected delta: +$510/yr (+$43/mo · 26.5%)

ⓘ 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 · 20 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: $20,064
• − Mortgage interest: −$7,276
• − Property taxes: −$1,928
• − Insurance: −$650
• − Repairs & maintenance: −$1,605
• − Management: −$1,605
• − Depreciation: −$3,779
• Taxable income: $3,221
• Est. tax owed @ 24.0%: −$773
• After-tax cash flow: $4,326/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: Sullivan CUSD 300
• NCES district ID: 1738130
• Math proficiency: 21% ▬ 0.00%
• Reading proficiency: 28% ▼ -10.00%
• Median HH income: $47,763
• Composite: 21.41/100
• National rank: #8346
• State rank: #338 of 620 in IL

Livability — Sullivan

• Score: 65/100
• State rank: #647
• US rank: #13204

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sullivan, IL
• Population (ZIP): 7,654

Population outlook (Moultrie County) Hauer SSP2

• Today (2025): 14,766 people
• By 2030: 14,490 · -1.9%
• By 2040: 13,848 · -6.2%
• By 2050: 13,063 · -11.5%
• By 2075: 10,862 · -26.4%
• By 2100: 7,963 · -46.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 2% Black 1%
• Common ancestry: Lithuanian 1% Italian 1% Slovak 1%
• Foreign-born: 1%
• Languages at home: 90% English-only · German/W. Germanic 8% Other Indo-European 1% Spanish 1%

Political lean MEDSL · Moultrie

• 2024 margin: Solid R (+49.1) · D 24.8% · R 73.8% · Other 1.4%
• 2008→2024 swing: -36.2pp toward R · 2008: -12.8pp · 2024: -49.1pp
• All cycles: 2024: R+49.1 2020: R+49.0 2016: R+48.0 2012: R+27.1 2008: R+12.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -17.15%
• Current HPI: 208.2808
• 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

+46.0% since first listed

5 events — show timeline

• 2026-05-29 Pending — CIBR
• 2026-05-17 Contingent — CIBR
• 2026-05-06 Listed $129,900 CIBR
• 2026-03-02 Sold (Public Records) $160,000 Public Records
• 2011-06-17 Sold (Public Records) $89,000 Public Records

Property tax history

+1.8%/yr

Latest (2024): $1,928 · +8.9% YoY. Source: county tax records.