229 W Madison St · Moweaqua, IL 62550

$154,900

4 bd · 1.0 ba · 1,225 sqft · SingleFamily public records · 187 Days on market

Built 1885 0.33 ac lot $126/sqft · 57% above area Est $197k · 21% 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).

• ARV discount +15.0/15.0
• Cash flow +11.6/30.0
• Appreciation +8.4/10.0
• DSCR +3.4/10.0
• 1% rule +3.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0

Listing remarks MLS

Sitting on a quaint and quiet, tree-lined street, this historic home is looking to make new traditions! A classic bay window lets natural light shine through the large dining room to an updated kitchen with newer cabinets and flooring. The main floor also offers a handy bedroom and full bath with a walk-in shower, as well as a half bath in the laundry room. Upstairs you’ll find four more bedrooms and another full bath- bringing you to a whopping five bedrooms. Shady yard, Central A & M schools, and historic character- what more could you ask for!

Key facts

• Bay window
• Full bath
• Historic character

Tags

• BAY WINDOW
• UPDATED KITCHEN
• FULL BATH
• SHADY YARD
• HISTORIC CHARACTER

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $-47 ($-569/yr) — negative.
• To cash-flow at today's rent, offer at most $147k (5.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $129k (16.6% below list).
• Recommended offer: $129k (16.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 65/100 on livability (#616 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: schools F, amenities F, commute F.
• Central A & M CUD 21 (rural): math 13% / reading 20% proficiency, ranked #477 of 620 in IL (top 77%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 19 active listings in the ZIP; 41 units permitted in Shelby County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($1k loan paydown + $10k appreciation (6.7% local appreciation)).
• Shelby County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.7% appreciation + 3.0% rent growth), your $43k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 187 days — a 12% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 20y ago; this cycle's ask has dropped $15k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $50k; list at $155k implies a 213% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1885 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $129,230 (16.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 187 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
3. Built in 1885 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 0.83% ✗
• Cap rate: 5.93%
• Cash-on-cash: -1.31%
• DSCR: 0.94
• GRM: 10.0

CMA / ARV

• ARV (median comp): $197,002
• List price: $154,900
• Delta: -21.37%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
221 E Warren St	0.40mi	3/1.0 (-1)	1,200 (-2%)	5mo	$109,000	$91	69
504 Putnam St	0.47mi	3/1.0 (-1)	1,235 (+1%)	10mo	$70,000	$57	63
321 South St	0.43mi	3/1.0 (-1)	1,316 (+7%)	0mo	$137,500	$104	62
119 W Madison St	0.11mi	3/1.5 (-1)	1,332 (+9%)	21mo	$88,400	$66	56
209 W Wall St	0.17mi	3/1.0 (-1)	1,078 (-12%)	19mo	$85,000	$79	51
317 E South St	0.41mi	3/2.0 (-1)	1,296 (+6%)	17mo	$140,000	$108	48
329 Main St	0.36mi	4/2.0	1,070 (-13%)	23mo	$95,000	$89	39
222 N East St	0.56mi	3/1.0 (-1)	1,400 (+14%)	21mo	$90,000	$64	28

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

6.72% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.0%
• Equity multiple: 2.12×
• Total profit: $48,462
• Equity at exit: $104,547

10-year hold

• IRR: 15.8%
• Equity multiple: 4.31×
• Total profit: $143,470
• Equity at exit: $196,111

Cash invested: $43,372 (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 62550

• Home prices YoY: 3.5%
• Active inventory: 19
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,292 medium
• Mortgage (P&I): −$812
• Tax from tax record: −$191 /mo · $2,298/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $-47

Break-even live

Break-even rent $1,352

Max offer price $146,524

Occupancy floor 99%

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: $38,725
• Closing costs: $4,647
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-19
   days on market $154,900 Active 187 DOM
2. 2026-06-18
   days on market $154,900 Active 186 DOM
3. 2026-06-17
   days on market $154,900 Active 185 DOM
4. 2026-06-16
   days on market $154,900 Active 184 DOM
5. 2026-06-15
   days on market $154,900 Active 183 DOM
6. 2026-06-05
   days on market $154,900 Active 181 DOM
7. 2026-06-02
   days on market $154,900 Active 179 DOM
8. 2026-06-01
   days on market $154,900 Active 178 DOM
9. 2026-05-31
   days on market $154,900 Active 177 DOM
10. 2026-05-30
    days on market $154,900 Active 176 DOM
11. 2026-02-02
    price $154,900 562-char remark

    Show marketing remark (562 chars)

    Sitting on a quaint and quiet, tree-lined street, this historic home is looking to make new traditions! A classic bay window lets natural light shine through the large dining room to an updated kitchen with newer cabinets and flooring. The main floor also offers a handy bedroom and full bath with a walk-in shower, as well as a half bath in the laundry room. Upstairs you’ll find four more bedrooms and another full bath- bringing you to a whopping five bedrooms. Shady yard, Central A & M schools, and historic character- what more could you ask for!

12. 2025-12-05
    listed $169,900 Active 562-char remark

    Show marketing remark (562 chars)

    Sitting on a quaint and quiet, tree-lined street, this historic home is looking to make new traditions! A classic bay window lets natural light shine through the large dining room to an updated kitchen with newer cabinets and flooring. The main floor also offers a handy bedroom and full bath with a walk-in shower, as well as a half bath in the laundry room. Upstairs you’ll find four more bedrooms and another full bath- bringing you to a whopping five bedrooms. Shady yard, Central A & M schools, and historic character- what more could you ask for!

13. 2025-05-02
    status Pending
14. 2025-04-11
    historical Active Under Contract
15. 2025-03-03
    status Active
16. 2025-02-18
    historical Active Under Contract
17. 2025-02-11
    listed $149,900 Active
18. 2024-10-28
    status Active
19. 2024-10-23
    status Pending
20. 2024-10-13
    historical Active Under Contract
21. 2024-09-24
    listed $164,000 Active
22. 2022-08-25
    historical
23. 2022-06-09
    listed Active
24. 2012-11-30
    historical
25. 2011-10-27
    soldstatus $49,500
26. 2007-06-13
    soldstatus $85,000
27. 2007-05-15
    soldstatus $85,000
28. 2006-11-29
    listed $85,000

ⓘ 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: $2,298 · $191/mo
• Projected year-2 tax: $2,907 · $242/mo
• Expected delta: +$609/yr (+$51/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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥105°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,508
• − Mortgage interest: −$8,677
• − Property taxes: −$2,298
• − Insurance: −$774
• − Repairs & maintenance: −$1,241
• − Management: −$1,241
• − Depreciation: −$4,506
• Taxable loss: −$3,229
• Est. tax savings @ 24.0%: +$775
• After-tax cash flow: $206/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: Central A & M CUD 21
• NCES district ID: 1709100
• Math proficiency: 13% ▼ -5.00%
• Reading proficiency: 20% ▼ -7.00%
• Median HH income: $50,388
• Composite: 15.02/100
• National rank: #9357
• State rank: #477 of 620 in IL

Livability — Moweaqua

• Score: 65/100
• State rank: #616
• US rank: #12660

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Moweaqua, IL
• Population (ZIP): 3,070

Population outlook (Shelby County) Hauer SSP2

• Today (2025): 20,512 people
• By 2030: 19,675 · -4.1%
• By 2040: 17,851 · -13.0%
• By 2050: 15,973 · -22.1%
• By 2075: 11,799 · -42.5%
• By 2100: 8,030 · -60.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 3% Two or more races 2% Native American 1%
• Common ancestry: Iranian 3% Slovak 3% Lithuanian 2%
• Foreign-born: 0%
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Shelby

• 2024 margin: Solid R (+60.2) · D 19.2% · R 79.5% · Other 1.4%
• 2008→2024 swing: -40.5pp toward R · 2008: -19.8pp · 2024: -60.2pp
• All cycles: 2024: R+60.2 2020: R+57.2 2016: R+54.3 2012: R+33.7 2008: R+19.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.72%
• Current HPI: 197.0448
• 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

+82.2% since first listed

18 events — show timeline

• 2026-02-02 Price Changed $154,900 CIBR
• 2025-12-05 Listed $169,900 CIBR
• 2025-05-02 Pending — CIBR
• 2025-04-11 Contingent — CIBR
• 2025-03-03 Relisted — CIBR
• 2025-02-18 Contingent — CIBR
• 2025-02-11 Listed $149,900 CIBR
• 2024-10-28 Relisted — CIBR
• 2024-10-23 Pending — CIBR
• 2024-10-13 Contingent — CIBR
• 2024-09-24 Listed $164,000 CIBR
• 2022-08-25 Listing Removed — MRED as Distributed by MLS Grid
• 2022-06-09 Listed — MRED as Distributed by MLS Grid
• 2012-11-30 Listing Removed — MRED as Distributed by MLS Grid
• 2011-10-27 Sold (Public Records) $49,500 Public Records
• 2007-06-13 Sold (Public Records) $85,000 Public Records
• 2007-05-15 Sold (MLS) $85,000 MRED as Distributed by MLS Grid
• 2006-11-29 Listed $85,000 MRED as Distributed by MLS Grid

Property tax history

+1.2%/yr

Latest (2024): $2,298 · +9.8% YoY. Source: county tax records.