311 N Franklin St · Rushville, IL 62681

$50,000

2 bd · 1.0 ba · 919 sqft · Other · 202 Days on market

6,000 sqft lot

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Charming 2-bedroom, 1-bath home with fresh updates including new flooring and paint throughout in 2024. Updated windows offer great natural light, and the home includes a stove and refrigerator to convey. The occupant is in the process of moving out, providing a perfect opportunity for either an owner-occupant or investor. This property has a strong rental history, previously earning $700 per month. A storage shed in the backyard adds extra convenience. The home next door is also available—buy both and create a fantastic package deal! Live in one and rent the other for additional income.

Key facts

• Updated paint
• Updated flooring
• 6,000 sq ft lot

Tags

• UPDATED FLOORING
• UPDATED PAINT
• APPLIANCES 1 YEAR OLD

Property features AI

Exterior

• Parking: No garage spaces
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Single-story living with additional/upper/lower levels noted; Shingle roof
• Construction: Building area approximately 919 (living area/building area); Not new construction; Year built not provided
• Exterior features: Level lot; Lot dimensions approximately 60 x 100

Interior

• Kitchen: Kitchen on main level
• Bedrooms: 2 bedrooms (both on the main level); Bedroom 1: main level, vinyl flooring, egress window, approx. 9 x 18 ft; Bedroom 2: main level, vinyl flooring, egress window, approx. 9 x 13 ft
• Flooring: Vinyl flooring in main living areas and bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air; Gas water heating
• Interior features: No basement; No fireplaces
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $50k.

Deal economics

• At list price, monthly cash flow is $331 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($874 rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#627 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D, amenities F, commute F.
• Schuyler-Industry CUSD 5 (town): math 13% / reading 15% proficiency, ranked #522 of 620 in IL (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 16 active listings in the ZIP.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $346 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Schuyler County population projected at -28% 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 $14k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 202 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $29k; list at $50k implies a 72% gain — meaningful room to come down on a strong offer.

Recommended offer $44,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 202 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.75% ✓
• Cap rate: 14.23%
• Cash-on-cash: 28.36%
• DSCR: 2.26
• GRM: 4.8

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: 22.6%
• Equity multiple: 1.93×
• Total profit: $12,992
• Equity at exit: $7,455

10-year hold

• IRR: 30.6%
• Equity multiple: 3.75×
• Total profit: $38,535
• Equity at exit: $4,323

Cash invested: $14,000 (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 62681

• Home prices YoY: -17.0%
• Active inventory: 16
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $874 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$76 /mo · $914/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$183
• Net cashflow: $331

Break-even live

Break-even rent $455

Max offer price $50,000

Occupancy floor 57%

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-04-23
   historical Under Contract
2. 2026-04-21
   status Active
3. 2026-04-21
   price $50,000
4. 2026-04-15
   historical Under Contract
5. 2026-03-03
   price $59,800
6. 2025-12-03
   price $67,500
7. 2024-03-12
   soldstatus $29,000

ⓘ 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: $914 · $76/mo
• Projected year-2 tax: $1,025 · $85/mo
• Expected delta: +$110/yr (+$9/mo · 12.1%)

ⓘ 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 ≥106°F today · 18 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: $10,482
• − Mortgage interest: −$2,801
• − Property taxes: −$914
• − Insurance: −$250
• − Repairs & maintenance: −$839
• − Management: −$839
• − Depreciation: −$1,455
• Taxable income: $3,385
• Est. tax owed @ 24.0%: −$813
• After-tax cash flow: $3,158/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: Schuyler-Industry CUSD 5
• NCES district ID: 1700332
• Math proficiency: 13% ▼ -8.00%
• Reading proficiency: 15% ▼ -10.00%
• Median HH income: $46,367
• Composite: 12.59/100
• National rank: #9616
• State rank: #522 of 620 in IL

Livability — Rushville

• Score: 65/100
• State rank: #627
• US rank: #12830

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rushville, IL
• Population (ZIP): 5,649

Population outlook (Schuyler County) Hauer SSP2

• Today (2025): 6,298 people
• By 2030: 5,913 · -6.1%
• By 2040: 5,186 · -17.7%
• By 2050: 4,527 · -28.1%
• By 2075: 3,365 · -46.6%
• By 2100: 2,553 · -59.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Black 5% Hispanic / Latino 3% Two or more races 2%
• Common ancestry: Lithuanian 2% Slovak 2% Iranian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% French/Haitian/Cajun 1%

Political lean MEDSL · Schuyler

• 2024 margin: Solid R (+46.8) · D 25.6% · R 72.4% · Other 2.0%
• 2008→2024 swing: -48.6pp toward R · 2008: 1.8pp · 2024: -46.8pp
• All cycles: 2024: R+46.8 2020: R+43.5 2016: R+38.2 2012: R+8.7 2008: D+1.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -30.32%
• Current HPI: 148.2595
• 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

+72.4% since first listed

7 events — show timeline

• 2026-04-23 Contingent — RMLSA as Distributed by MLS Grid
• 2026-04-21 Relisted — RMLSA as Distributed by MLS Grid
• 2026-04-21 Price Changed $50,000 RMLSA as Distributed by MLS Grid
• 2026-04-15 Contingent — RMLSA as Distributed by MLS Grid
• 2026-03-03 Price Changed $59,800 RMLSA as Distributed by MLS Grid
• 2025-12-03 Price Changed $67,500 RMLSA as Distributed by MLS Grid
• 2024-03-12 Sold (Public Records) $29,000 Public Records

Property tax history

-1.4%/yr

Latest (2024): $914 · +1.5% YoY. Source: county tax records.