617 Short 8th St · Lincoln, IL 62656

$69,900

3 bd · 1.0 ba · 1,080 sqft · SingleFamily public records · 587 Days on market

Built 1948 5,580 sqft lot Est $110k · 37% under

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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 +25.4/30.0
• ARV discount +15.0/15.0
• DSCR +8.4/10.0
• 1% rule +7.7/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Situated on an efficient 45X124 fenced corner lot, you will find this comfortable 3 bedroom vinyl sided bungalow style home! Interior features a large living room with hardwood flooring, equipped kitchen with breakfast bar as well as a tile backsplash, 3 bedrooms -- two with hardwood flooring -- one with an adjacent walk-in closet, and a full hall comparted bath. Property also features a partial basement, rear patio, oversized two car detached garage with great work/storage space as well as an attached kitchenette/storage/work room area, rear storage shed -- the list goes on! Water heater replaced in 2019 -- all appliances to remain upon settlement for new owner(s) including washer and dryer. Push mower to remain, too. Turn the key and move right on in to 617 Short 8th Street, Lincoln!

Key facts

• 5,580 sq ft lot
• 2 garage spots
• Built 1948

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story (living spaces primarily on main level)
• Construction: Shingle roof; Built in 1948
• Exterior features: Shed(s); Corner, level lot; Lot dimensions approximately 45 x 124

Interior

• Kitchen: Kitchen (appliances not specified)
• Bedrooms: Three bedrooms (all on the main level)
• Flooring: Hardwood flooring in living room and one bedroom; Other flooring in remaining bedrooms and kitchen
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Ceiling fan(s); Partial, unfinished basement
• Laundry & utility: Basement laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $161 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($890 rent vs $70k).
• Recommended offer: $62k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.1% vs local median 4.1% in Lincoln — 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 67/100 on livability (#509 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: amenities F, commute F, employment D-.
• Lincoln Chsd 404 (town): math 21% / reading 27% proficiency, ranked #367 of 620 in IL (top 59%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Lincoln Jr High School (math 22% / reading 44%, grade F, #217 of 665 statewide, top 33%, 341 students, 0% FRL); Lincoln Comm High School (math 21% / reading 27%, grade F, #304 of 693 statewide, top 44%, 786 students, 0% FRL).
• Market conditions: 77 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 10 units permitted in Logan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $483 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Logan County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 587 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 16y ago; this cycle's ask has dropped $5k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price; built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $61,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 587 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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 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?
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: 1.27% ✓
• Cap rate: 9.06%
• Cash-on-cash: 9.87%
• DSCR: 1.44
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $110,160
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
640 7th St	0.08mi	2/1.0 (-1)	1,085 (+0%)	1mo	$94,500	$87	90
527 8th St	0.12mi	2/1.0 (-1)	1,077 (-0%)	1mo	$115,000	$107	89
320 N Jefferson St	0.27mi	3/1.0	1,115 (+3%)	3mo	$83,000	$74	80
215 S College St	0.16mi	3/1.0	1,154 (+7%)	3mo	$59,900	$52	78
626 7th St	0.12mi	2/1.5 (-1)	1,154 (+7%)	4mo	$93,500	$81	72
210 N State St	0.19mi	3/1.0	960 (-11%)	1mo	$169,900	$177	72
228 4th St	0.46mi	3/1.0	1,168 (+8%)	2mo	$135,000	$116	64
100 Gavin St	0.65mi	3/1.0	1,050 (-3%)	3mo	$89,000	$85	62
208 11th St	0.55mi	3/1.0	1,194 (+11%)	4mo	$126,000	$106	54
814 1st St	0.42mi	2/1.0 (-1)	962 (-11%)	4mo	$98,000	$102	53
310 Pekin St	0.65mi	2/1.0 (-1)	1,142 (+6%)	3mo	$115,000	$101	53
205 Palmer Ave	0.72mi	3/1.0	991 (-8%)	0mo	$120,000	$121	52

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: -1.4%
• Equity multiple: 0.95×
• Total profit: $-1,022
• Equity at exit: $10,422

10-year hold

• IRR: 8.4%
• Equity multiple: 1.64×
• Total profit: $12,516
• Equity at exit: $6,044

Cash invested: $19,572 (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 62656

• Active inventory: 77
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $890 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$146 /mo · $1,754/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$187
• Net cashflow: $161

Break-even live

Break-even rent $686

Max offer price $69,900

Occupancy floor 77%

Sensitivity live

Price	-10% $201	-5% $181	+0% $161	+5% $141	+10% $121
Rent	-10% $91	-5% $126	+0% $161	+5% $196	+10% $231
Rate	-1.0pp $196	-0.5pp $179	base $161	+0.5pp $143	+1.0pp $124

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1455 Castle Manor Dr Lincoln, IL	1.0–2.0	1.0	835	$845	$1.01	45d	1	0.82mi
1103 N State St Lincoln, IL	1.0–3.0	1.0–2.0	996	$930	$0.93	22d	1	0.89mi

Listing history 27 events

1. 2026-06-21
   days on market $69,900 Active 587 DOM
2. 2026-06-21
   days on market $69,900 Active 586 DOM
3. 2026-06-18
   days on market $69,900 Active 584 DOM
4. 2026-06-17
   days on market $69,900 Active 583 DOM
5. 2026-06-16
   days on market $69,900 Active 582 DOM
6. 2026-06-15
   days on market $69,900 Active 581 DOM
7. 2026-06-13
   days on market $69,900 Active 579 DOM
8. 2026-06-12
   days on market $69,900 Active 578 DOM
9. 2026-06-09
   days on market $69,900 Active 575 DOM
10. 2026-06-08
    days on market $69,900 Active 574 DOM
11. 2026-06-07
    days on market $69,900 Active 573 DOM
12. 2026-06-04
    days on market $69,900 Active 569 DOM
13. 2026-06-02
    days on market $69,900 Active 568 DOM
14. 2026-06-01
    days on market $69,900 Active 567 DOM
15. 2026-05-31
    days on market $69,900 Active 566 DOM
16. 2026-05-31
    days on market $69,900 Active 565 DOM
17. 2025-04-21
    price $69,900
18. 2024-11-10
    listed $75,000 Active
19. 2021-09-19
    historical
20. 2019-09-03
    soldstatus $65,000
21. 2019-08-29
    soldstatus $64,900 796-char remark

    Show marketing remark (796 chars)

    Situated on an efficient 45X124 fenced corner lot, you will find this comfortable 3 bedroom vinyl sided bungalow style home! Interior features a large living room with hardwood flooring, equipped kitchen with breakfast bar as well as a tile backsplash, 3 bedrooms -- two with hardwood flooring -- one with an adjacent walk-in closet, and a full hall comparted bath. Property also features a partial basement, rear patio, oversized two car detached garage with great work/storage space as well as an attached kitchenette/storage/work room area, rear storage shed -- the list goes on! Water heater replaced in 2019 -- all appliances to remain upon settlement for new owner(s) including washer and dryer. Push mower to remain, too. Turn the key and move right on in to 617 Short 8th Street, Lincoln!

22. 2019-07-14
    listed $64,900 796-char remark

    Show marketing remark (796 chars)

    Situated on an efficient 45X124 fenced corner lot, you will find this comfortable 3 bedroom vinyl sided bungalow style home! Interior features a large living room with hardwood flooring, equipped kitchen with breakfast bar as well as a tile backsplash, 3 bedrooms -- two with hardwood flooring -- one with an adjacent walk-in closet, and a full hall comparted bath. Property also features a partial basement, rear patio, oversized two car detached garage with great work/storage space as well as an attached kitchenette/storage/work room area, rear storage shed -- the list goes on! Water heater replaced in 2019 -- all appliances to remain upon settlement for new owner(s) including washer and dryer. Push mower to remain, too. Turn the key and move right on in to 617 Short 8th Street, Lincoln!

23. 2016-05-05
    soldstatus $59,900
24. 2016-05-02
    soldstatus $59,900
25. 2016-03-08
    listed $59,900
26. 2010-09-28
    soldstatus $49,900
27. 2010-08-26
    listed $49,900

ⓘ 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: $1,754 · $146/mo
• Projected year-2 tax: $1,754 · $146/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥105°F today · 19 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,676
• − Mortgage interest: −$3,915
• − Property taxes: −$1,754
• − Insurance: −$350
• − Repairs & maintenance: −$854
• − Management: −$854
• − Depreciation: −$2,033
• Taxable income: $916
• Est. tax owed @ 24.0%: −$220
• After-tax cash flow: $1,712/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: Lincoln Chsd 404
• NCES district ID: 1723050
• Math proficiency: 21% ▼ -9.00%
• Reading proficiency: 27% ▼ -8.00%
• Median HH income: $41,489
• Composite: 20.4/100
• National rank: #8590
• State rank: #367 of 620 in IL

Livability — Lincoln

• Score: 67/100
• State rank: #509
• US rank: #10514

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lincoln, IL
• City population: 18,364
• Population (ZIP): 18,364

Population outlook (Logan County) Hauer SSP2

• Today (2025): 28,066 people
• By 2030: 27,370 · -2.5%
• By 2040: 26,078 · -7.1%
• By 2050: 24,908 · -11.3%
• By 2075: 22,504 · -19.8%
• By 2100: 19,226 · -31.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Black 9% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Lithuanian 2% Slovak 1% Romanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Logan

• 2024 margin: Solid R (+41.5) · D 28.2% · R 69.8% · Other 2.0%
• 2008→2024 swing: -24.6pp toward R · 2008: -16.9pp · 2024: -41.5pp
• All cycles: 2024: R+41.5 2020: R+39.8 2016: R+40.1 2012: R+32.1 2008: R+16.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -181.45%
• Current HPI: 133.9499
• 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

+40.1% since first listed

11 events — show timeline

• 2025-04-21 Price Changed $69,900 RMLSA as Distributed by MLS Grid
• 2024-11-10 Listed $75,000 RMLSA as Distributed by MLS Grid
• 2021-09-19 Listing Removed — RMLSA as Distributed by MLS Grid
• 2019-09-03 Sold (Public Records) $65,000 Public Records
• 2019-08-29 Sold (MLS) $64,900 RMLSA as Distributed by MLS Grid
• 2019-07-14 Listed $64,900 RMLSA as Distributed by MLS Grid
• 2016-05-05 Sold (Public Records) $59,900 Public Records
• 2016-05-02 Sold (MLS) $59,900 RMLSA as Distributed by MLS Grid
• 2016-03-08 Listed $59,900 RMLSA as Distributed by MLS Grid
• 2010-09-28 Sold (MLS) $49,900 RMLSA as Distributed by MLS Grid
• 2010-08-26 Listed $49,900 RMLSA as Distributed by MLS Grid

Property tax history

+2.3%/yr

Latest (2024): $1,754 · +7.4% YoY. Source: county tax records.