3 N Bond St · Altamont, IL 62411

$92,000

1 bd · 1.0 ba · 1,008 sqft · Other public records · 1 Days on market

Built 1940

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Why this score? — see what drove the D+ 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 +19.0/30.0
• ARV discount +7.5/15.0
• DSCR +6.0/10.0
• 1% rule +4.9/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Located in Altamont Il 3 bdrm 1 bath, laundry room. .1008 sq ft cozy home with original wood floor. .roof, siding, windows in 2016.. fenced backyard, central air, garage but in bad shape. .good location to downtown, schools, church. .$92,000. Call or text 217 821 7577

Key facts

• Original wood floor
• Fenced backyard
• Central air

Tags

• ORIGINAL WOOD FLOOR
• FENCED BACKYARD
• CENTRAL AIR

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath other listed at $92k.

Deal economics

• At list price, monthly cash flow is $95 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $91k (1.0% below list).
• Recommended offer: $91k (1.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 66/100 on livability (#578 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: employment C-, schools F, amenities F.
• Altamont CUSD 10 (rural): math 24% / reading 30% proficiency, ranked #284 of 620 in IL (top 46%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 22 active listings in the ZIP; 27 units permitted in Effingham County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $636 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Effingham County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $91,060 (1.0% below list)

Questions for the listing agent

1. Built in 1940 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.99% ✗
• Cap rate: 7.54%
• Cash-on-cash: 4.45%
• DSCR: 1.20
• GRM: 8.4

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: -9.4%
• Equity multiple: 0.66×
• Total profit: $-8,820
• Equity at exit: $13,717

10-year hold

• IRR: 0.1%
• Equity multiple: 1.01×
• Total profit: $177
• Equity at exit: $7,954

Cash invested: $25,760 (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 62411

• Home prices YoY: -22.9%
• Active inventory: 22
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $911 medium
• Mortgage (P&I): −$482
• Tax from tax record: −$103 /mo · $1,237/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$191
• Net cashflow: $95

Break-even live

Break-even rent $790

Max offer price $92,000

Occupancy floor 85%

Sensitivity live

Price	-10% $148	-5% $122	+0% $95	+5% $69	+10% $43
Rent	-10% $24	-5% $60	+0% $95	+5% $131	+10% $167
Rate	-1.0pp $142	-0.5pp $119	base $95	+0.5pp $72	+1.0pp $47

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: $23,000
• Closing costs: $2,760
• Reserves months: —
• Total cash needed: —

Tax reassessment forecast IL · Partial reset (capped growth)

• Current annual tax: $1,237 · $103/mo
• Projected year-2 tax: $1,663 · $139/mo
• Expected delta: +$426/yr (+$35/mo · 34.4%)

ⓘ 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 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,927
• − Mortgage interest: −$5,153
• − Property taxes: −$1,237
• − Insurance: −$460
• − Repairs & maintenance: −$874
• − Management: −$874
• − Depreciation: −$2,676
• Taxable loss: −$348
• Est. tax savings @ 24.0%: +$84
• After-tax cash flow: $1,229/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: Altamont CUSD 10
• NCES district ID: 1703510
• Math proficiency: 24% ▲ 2.00%
• Reading proficiency: 30% ▼ -1.00%
• Median HH income: $51,557
• Composite: 23.85/100
• National rank: #7802
• State rank: #284 of 620 in IL

Livability — Altamont

• Score: 66/100
• State rank: #578
• US rank: #12096

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: Altamont, IL
• Population (ZIP): 4,322

Population outlook (Effingham County) Hauer SSP2

• Today (2025): 34,179 people
• By 2030: 33,648 · -1.6%
• By 2040: 32,066 · -6.2%
• By 2050: 29,813 · -12.8%
• By 2075: 24,101 · -29.5%
• By 2100: 17,174 · -49.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 4% Two or more races 1%
• Common ancestry: Lithuanian 5% German 4% Serbian 3%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Effingham

• 2024 margin: Solid R (+60.4) · D 19.0% · R 79.3% · Other 1.7%
• 2008→2024 swing: -24.4pp toward R · 2008: -36.0pp · 2024: -60.4pp
• All cycles: 2024: R+60.4 2020: R+59.2 2016: R+60.5 2012: R+52.0 2008: R+36.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -58.77%
• Current HPI: 197.267
• 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

Property tax history

+3.8%/yr

Latest (2024): $1,237 · +7.4% YoY. Source: county tax records.