305 N Madison St · Sullivan, IL 61951

$134,900

3 bd · 1.0 ba · 1,622 sqft · SingleFamily public records · 39 Days on market

Built 1898 5,000 sqft lot $83/sqft · 6% above area Est $102k · 32% over

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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 +21.2/30.0
• DSCR +6.8/10.0
• 1% rule +6.1/10.0
• 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

Listing remarks

A CHARMING OLDER HOME WITH SO MUCH CHARACTER! CHECK OUT THE ENCLOSED FRONT PORCH, 10 FT CEILINGS AND THE HARDWOOD FLOORS THROUGHOUT! OPEN THE WOOD FRENCH DOORS TO THE SPACIOUS LIVINGROOM & DINING AREA WITH BUILT IN CORNER CHINA CABINETS! BOTH BEDROOMS ARE GOOD SIZE AND HAVE PLENTY OF CLOSET SPACE! THERE IS A THIRD BEDROOM IN THE BASEMENT! THE CONVENIENT KITCHEN HAS BEEN UPDATED AND HAS STAINLESS STEEL APPLIANCES! THERE IS A LARGE 20X22 2 CAR DETACHED GARAGE AND A FENCED BACKYARD! CORNER LOT WITH A GREAT LOCATION! WALK TO SCHOOLS, PARKS, CIVIC CENTER AND DOWNTOWN! COME TAKE A LOOK! IT WON'T LAST LONG!

Key facts

• Updated kitchen
• Hardwood floors
• Enclosed front porch

Tags

• ENCLOSED FRONT PORCH
• HARDWOOD FLOORS
• WOOD FRENCH DOORS
• BUILT IN CORNER CHINA CABINETS
• UPDATED KITCHEN
• STAINLESS STEEL APPLIANCES

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One-story; R-1 zoning
• Construction: Aluminum and vinyl siding; Asphalt/metal/shingle roof; Built with a foundation and partial finished basement; One level
• Exterior features: Front porch; Patio; Fenced yard; Concrete road access

Interior

• Kitchen: Dishwasher; Range; Refrigerator; Range hood
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Natural gas forced-air heating
• Interior features: Dishwasher; Gas water heater; Range; Refrigerator; Range hood; Unfinished partial basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $195 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $135k).
• Recommended offer: $131k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 6.4% in Sullivan — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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-, amenities F, commute 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.
• Zoned schools: Sullivan Elem School (math 37% / reading 42%, grade F, #392 of 2,056 statewide, top 21%, 484 students, 0% FRL); Sullivan Middle School (math 13% / reading 20%, grade F, #482 of 665 statewide, top 73%, 334 students, 0% FRL); Sullivan High School (math 17% / reading 32%, grade F, #256 of 693 statewide, top 44%, 361 students, 0% FRL) — zoned schools average 0% FRL vs 38% district-wide (38 pts lower); this property's tenant base skews higher-income than the district average.
• 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 $933 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.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1898 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $130,853 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 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 1898 — 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 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?
5. 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?
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: 1.11% ✓
• Cap rate: 8.03%
• Cash-on-cash: 6.21%
• DSCR: 1.28
• GRM: 7.5

CMA / ARV

• ARV (median comp): $101,949
• List price: $134,900
• Delta: 32.32%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
710 N Worth St	0.25mi	3/2.0	1,609 (-1%)	6mo	$200,000	$124	78
308 Blackwood St	0.27mi	3/1.0	1,500 (-8%)	2mo	$123,600	$82	74
202 E Monroe St	0.10mi	3/2.0	1,831 (+13%)	2mo	$217,000	$119	68
316 N Washington St	0.04mi	3/1.5	1,421 (-12%)	10mo	$90,000	$63	68
607 N Van Buren St	0.25mi	2/2.0 (-1)	1,520 (-6%)	8mo	$163,000	$107	62
716 N Seymour St	0.43mi	3/1.5	1,484 (-8%)	4mo	$119,000	$80	61
720 Strain St	0.51mi	4/2.0 (+1)	1,502 (-7%)	8mo	$176,000	$117	48
20 Pifers Ln	0.56mi	2/2.0 (-1)	1,468 (-10%)	3mo	$173,000	$118	46
503 W Harrison St	0.40mi	2/1.5 (-1)	1,410 (-13%)	11mo	$152,500	$108	44
1420 E Jackson St	0.67mi	3/2.5	1,748 (+8%)	8mo	$237,000	$136	43
820 S Main St	0.72mi	4/2.0 (+1)	1,730 (+7%)	10mo	$124,900	$72	38
716 W Monroe St	0.48mi	4/3.5 (+1)	1,821 (+12%)	8mo	$195,000	$107	35

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: -6.7%
• Equity multiple: 0.75×
• Total profit: $-9,357
• Equity at exit: $20,114

10-year hold

• IRR: 3.0%
• Equity multiple: 1.21×
• Total profit: $8,111
• Equity at exit: $11,664

Cash invested: $37,772 (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: 7.5×

Monthly cashflow live

• Estimated rent: $1,499 medium
• Mortgage (P&I): −$707
• Tax from tax record: −$225 /mo · $2,702/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $195

Break-even live

Break-even rent $1,252

Max offer price $134,900

Occupancy floor 82%

Sensitivity live

Price	-10% $272	-5% $234	+0% $195	+5% $157	+10% $119
Rent	-10% $77	-5% $136	+0% $195	+5% $255	+10% $314
Rate	-1.0pp $263	-0.5pp $230	base $195	+0.5pp $160	+1.0pp $125

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: $33,725
• Closing costs: $4,047
• 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	$1,499	$1.42	15d	3	1.38mi

Listing history 19 events

1. 2026-06-22
   days on market $134,900 Active 39 DOM
2. 2026-06-21
   days on market $134,900 Active 38 DOM
3. 2026-06-19
   days on market $134,900 Active 36 DOM
4. 2026-06-18
   days on market $134,900 Active 35 DOM
5. 2026-06-17
   days on market $134,900 Active 34 DOM
6. 2026-06-16
   days on market $134,900 Active 33 DOM
7. 2026-06-15
   days on market $134,900 Active 32 DOM
8. 2026-06-14
   days on market $134,900 Active 30 DOM
9. 2026-06-12
   days on market $134,900 Active 29 DOM
10. 2026-06-09
    days on market $134,900 Active 26 DOM
11. 2026-06-08
    days on market $134,900 Active 25 DOM
12. 2026-06-07
    days on market $134,900 Active 24 DOM
13. 2026-06-05
    days on market $134,900 Active 21 DOM
14. 2026-06-03
    days on market $134,900 Active 20 DOM
15. 2026-06-02
    days on market $134,900 Active 19 DOM
16. 2026-06-01
    days on market $134,900 Active 18 DOM
17. 2026-05-31
    statusdays on market $134,900 Active 17 DOM
18. 2026-05-13
    historical Active Under Contract 613-char remark
19. 2026-05-06
    listed $134,900 Active 613-char remark

ⓘ 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: $2,702 · $225/mo
• Projected year-2 tax: $2,882 · $240/mo
• Expected delta: +$180/yr (+$15/mo · 6.7%)

ⓘ 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 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: $17,988
• − Mortgage interest: −$7,556
• − Property taxes: −$2,702
• − Insurance: −$674
• − Repairs & maintenance: −$1,439
• − Management: −$1,439
• − Depreciation: −$3,924
• Taxable income: $253
• Est. tax owed @ 24.0%: −$61
• After-tax cash flow: $2,284/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

4 events — show timeline

• 2026-05-30 Relisted — CIBR
• 2026-05-22 Pending — CIBR
• 2026-05-13 Contingent — CIBR
• 2026-05-06 Listed $134,900 CIBR

Property tax history

-0.1%/yr

Latest (2024): $2,702 · +6.8% YoY. Source: county tax records.