301 E Main St · Pleasant Plains, IL 62677

$150,000

3 bd · 1.0 ba · 1,430 sqft · Other · 1 Days on market

9,834 sqft lot

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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 +14.1/30.0
• ARV discount +7.5/15.0
• DSCR +4.3/10.0
• 1% rule +3.5/10.0
• Livability +3.4/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Coming Soon! Welcome to 301 E. Main Street in Pleasant Plains! Situated on a large corner lot, this well-maintained home offers the perfect combination of space, updates, and small-town charm. Don't let the outside fool you, this house is very spacious with endless possibilities. Inside, you’ll find approximately 1,700 square feet of living space featuring three spacious bedrooms, an updated bathroom, new luxury vinyl plank flooring in the kitchen and bath, and brand-new carpet to be installed. Outside, enjoy the convenience of a detached garage and storage shed, providing plenty of room for hobbies, lawn equipment, and extra storage. Located in the sought-after Pleasant Plains School

Key facts

• Large corner lot
• Storage shed
• Updated bathroom

Tags

• LARGE CORNER LOT
• UPDATED BATHROOM
• DETACHED GARAGE
• STORAGE SHED

Property features AI

Exterior

• Parking: Detached or attached garage not specified — 1-car garage
• Home design: Single-family residence; Approximately 1,700 total building area
• Construction: Year built not provided
• Exterior features: Lot dimensions approximately 66 x 149

Interior

• Bedrooms: Three bedrooms (all on the main level)
• Flooring: Carpet in bedrooms
• Bathrooms: One full bathroom
• Interior features: No fireplaces; Basement present

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $150k.

Deal economics

• At list price, monthly cash flow is $22 ($258/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 $128k (15.0% below list).
• Recommended offer: $128k (15.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 68/100 on livability (#468 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A; Watch: amenities F, commute F, health & safety F.
• Pleasant Plains CUSD 8 (rural): math 29% / reading 29% proficiency, ranked #216 of 620 in IL (top 35%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; only 10% free/reduced lunch — higher-income household profile.
• Market conditions: 10 active listings in the ZIP; 225 units permitted in Sangamon County in 2024 (48 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Sangamon County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

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

Recommended offer $127,554 (15.0% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 0.85% ✗
• Cap rate: 6.46%
• Cash-on-cash: 0.61%
• DSCR: 1.03
• GRM: 9.8

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: -15.3%
• Equity multiple: 0.45×
• Total profit: $-22,948
• Equity at exit: $22,365

10-year hold

• IRR: -6.8%
• Equity multiple: 0.57×
• Total profit: $-18,267
• Equity at exit: $12,969

Cash invested: $42,000 (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 62677

• Home prices YoY: -18.5%
• Active inventory: 10
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,276 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$137 /mo · $1,645/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$268
• Net cashflow: $22

Break-even live

Break-even rent $1,248

Max offer price $150,000

Occupancy floor 93%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-19
   statusdays on market $150,000 Active 1 DOM
2. 2026-06-18
   days on market $150,000 Coming Soon 7 DOM
3. 2026-06-17
   days on market $150,000 Coming Soon 6 DOM
4. 2026-06-16
   days on market $150,000 Coming Soon 5 DOM
5. 2026-06-15
   days on market $150,000 Coming Soon 4 DOM
6. 2026-06-14
   days on market $150,000 Coming Soon 2 DOM
7. 2026-06-13
   remarks 693-char remark
8. 2026-06-13
   listed $150,000 Coming Soon 1 DOM

ⓘ 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: $1,645 · $137/mo
• Projected year-2 tax: $2,525 · $210/mo
• Expected delta: +$880/yr (+$73/mo · 53.5%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥105°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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,306
• − Mortgage interest: −$8,402
• − Property taxes: −$1,645
• − Insurance: −$750
• − Repairs & maintenance: −$1,225
• − Management: −$1,225
• − Depreciation: −$4,364
• Taxable loss: −$2,303
• Est. tax savings @ 24.0%: +$553
• After-tax cash flow: $811/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: Pleasant Plains CUSD 8
• NCES district ID: 1731920
• Math proficiency: 29% ▼ -7.00%
• Reading proficiency: 29% ▼ -6.00%
• Median HH income: $83,702
• Composite: 28.6/100
• National rank: #6712
• State rank: #216 of 620 in IL

Livability — Pleasant Plains

• Score: 68/100
• State rank: #468
• US rank: #9691

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: Pleasant Plains, IL
• Population (ZIP): 2,153

Population outlook (Sangamon County) Hauer SSP2

• Today (2025): 198,317 people
• By 2030: 196,127 · -1.1%
• By 2040: 188,664 · -4.9%
• By 2050: 179,624 · -9.4%
• By 2075: 155,027 · -21.8%
• By 2100: 122,588 · -38.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 4%
• Common ancestry: Serbian 3% Portuguese 2% Iranian 2%
• Foreign-born: 1%

Political lean MEDSL · Sangamon

• 2024 margin: Toss-up / Even · D 46.6% · R 51.6% · Other 1.8%
• 2008→2024 swing: -9.3pp toward R · 2008: 4.4pp · 2024: -5.0pp
• All cycles: 2024: R+5.0 2020: R+4.4 2016: R+9.4 2012: R+8.7 2008: D+4.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -43.74%
• Current HPI: 193.1264
• 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

1 event — show timeline

• 2026-06-11 Coming Soon $150,000 RMLSA as Distributed by MLS Grid

Property tax history

+7.4%/yr

Latest (2025): $1,645 · +2.9% YoY. Source: county tax records.