102 Main St · Tallula, IL 62688

$94,900

4 bd · 3.0 ba · 2,200 sqft · MultiFamily · 40 Days on market

Built 1900 Fair condition

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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
• Appreciation +6.0/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +2.1/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Investment Opportunity – 102, 104 & 106 E Main St, Tallula, IL This property includes three rental apartments, a storage garage, and three additional vacant lots — offering plenty of potential for income and future growth. Current Income: 2 of the 3 apartments are rented Total potential rent: $2,150/month Units: 102 N Ewing (Upper) – 1 Bed / 1 Bath 102 E Main (Lower) – 1 Bed / 1 Bath 104 E Main – 2 Bed / 1 Bath Included Parcels: Five total parcels: Rentals: 005 & 006 Storage garage: 007 Vacant lots: 008 & 009 Parcel numbers: 16-07-102-005, 006, 007, 008, and 009 Don’t miss this great opportunity to expand your rental portfolio

Key facts

• Storage garage
• Five total parcels
• Built 1900

Tags

• THREE RENTAL APARTMENTS
• STORAGE GARAGE
• THREE ADDITIONAL VACANT LOTS
• FIVE TOTAL PARCELS

Property features AI

Finance

• Financial info: 3 units total; Unit 2 current rent: $700; Unit 3 current rent: $700; Unit 1 current rent reported as $0

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer
• Home design: Residential income property; Two or more stories; Built in 1900
• Construction: Approximately 2,200 total building area
• Exterior features: Corner lot; Other-style roof

Interior

• Bedrooms: One unit with 2 bedrooms; Two units with 1 bedroom each
• Bathrooms: Three full bathrooms (one in each unit)
• Heating & cooling: Central air; Forced air heating; Window air unit(s)
• Interior features: No basement; Fireplace in one unit

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath multifamily listed at $95k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $95k).
• Recommended offer: $92k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 58/100 on livability (#1,099 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime D, amenities F, commute F.
• Porta CUSD 202 (town): math 16% / reading 29% proficiency, ranked #363 of 620 in IL (top 58%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Petersburg Elem School (345 students, 0% FRL); Porta High School (math 22% / reading 32%, grade F, #218 of 693 statewide, top 35%, 428 students, 0% FRL) — zoned schools average 0% FRL vs 32% district-wide (32 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 4 active listings in the ZIP; 9 units permitted in Menard County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($656 loan paydown + $2k appreciation (2.1% local appreciation)).
• Menard County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.1% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($92k) 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 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $92,053 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 3.32% ✓
• Cap rate: 29.46%
• Cash-on-cash: 82.73%
• DSCR: 4.68
• GRM: 2.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.06% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 86.5%
• Equity multiple: 5.65×
• Total profit: $123,520
• Equity at exit: $37,742

10-year hold

• IRR: 86.6%
• Equity multiple: 11.62×
• Total profit: $282,277
• Equity at exit: $54,590

Cash invested: $26,572 (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 62688

• Home prices YoY: 2.1%
• Active inventory: 4
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $3,149 medium
• Mortgage (P&I): −$498
• Tax est. 1.5%: −$119 /mo · $1,424/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$661
• Net cashflow: $1,832

Break-even live

Break-even rent $830

Max offer price $94,900

Occupancy floor 37%

Sensitivity live

Price	-10% $1,897	-5% $1,865	+0% $1,832	+5% $1,799	+10% $1,766
Rent	-10% $1,583	-5% $1,707	+0% $1,832	+5% $1,956	+10% $2,081
Rate	-1.0pp $1,880	-0.5pp $1,856	base $1,832	+0.5pp $1,807	+1.0pp $1,782

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	1	1	$2,316
1× unit	2	1	$833
Total (4 units)			$3,149

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: $23,725
• Closing costs: $2,847
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-21
   days on market $94,900 Active 40 DOM
2. 2026-06-21
   days on market $94,900 Active 39 DOM
3. 2026-06-18
   days on market $94,900 Active 37 DOM
4. 2026-06-17
   days on market $94,900 Active 36 DOM
5. 2026-06-16
   days on market $94,900 Active 35 DOM
6. 2026-06-15
   days on market $94,900 Active 34 DOM
7. 2026-06-13
   days on market $94,900 Active 32 DOM
8. 2026-06-12
   days on market $94,900 Active 31 DOM
9. 2026-06-09
   days on market $94,900 Active 28 DOM
10. 2026-06-08
    days on market $94,900 Active 27 DOM
11. 2026-06-07
    days on market $94,900 Active 26 DOM
12. 2026-06-07
    days on market $94,900 Active 25 DOM
13. 2026-06-04
    days on market $94,900 Active 22 DOM
14. 2026-06-02
    days on market $94,900 Active 21 DOM
15. 2026-06-01
    days on market $94,900 Active 20 DOM
16. 2026-05-31
    days on market $94,900 Active 19 DOM
17. 2026-05-31
    days on market $94,900 Active 18 DOM
18. 2026-05-12
    listed $94,900 Active 771-char remark
19. 2026-03-13
    historical
20. 2025-11-04
    price
21. 2025-09-13
    listed Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $37,788
• − Mortgage interest: −$5,316
• − Property taxes: −$1,424
• − Insurance: −$474
• − Repairs & maintenance: −$3,023
• − Management: −$3,023
• − Depreciation: −$2,761
• Taxable income: $21,767
• Est. tax owed @ 24.0%: −$5,224
• After-tax cash flow: $16,758/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This multi-family property requires moderate renovations, including repairs to the roof and exterior siding, and landscaping to improve its curb appeal and overall value.

Repairs flagged

• Major roof — significant damage visible
• Major exterior siding — brick facade with visible cracks and damage
• Major landscaping — overgrown yard and lack of landscaping

Value-add opportunities

• Both paint interior walls — improves appearance and value
• Both repair roof — fixes major issue and improves value
• Both repair exterior siding — enhances curb appeal and value
• Both landscape yard — enhances curb appeal and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · significant damage visible	Major	$15,000–50,000
exterior siding · brick facade with visible cracks and damage	Major	$15,000–50,000
landscaping · overgrown yard and lack of landscaping	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both paint interior walls — improves appearance and value ↑
• Both repair roof — fixes major issue and improves value ↑
• Both repair exterior siding — enhances curb appeal and value ↑
• Both landscape yard — enhances curb appeal and value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Porta CUSD 202
• NCES district ID: 1731410
• Math proficiency: 16% ▼ -9.00%
• Reading proficiency: 29% ▼ -9.00%
• Median HH income: $57,294
• Composite: 20.63/100
• National rank: #8544
• State rank: #363 of 620 in IL

Livability — Tallula

• Score: 58/100
• State rank: #1099
• US rank: #20865

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tallula, IL
• Population (ZIP): 783

Population outlook (Menard County) Hauer SSP2

• Today (2025): 11,894 people
• By 2030: 11,493 · -3.4%
• By 2040: 10,675 · -10.2%
• By 2050: 9,861 · -17.1%
• By 2075: 8,334 · -29.9%
• By 2100: 6,799 · -42.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (99%)
• Race & ethnicity: White 99%
• Common ancestry: Italian 3% Romanian 2% Slovak 2%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Menard

• 2024 margin: Solid R (+41.5) · D 28.6% · R 70.0% · Other 1.4%
• 2008→2024 swing: -26.6pp toward R · 2008: -14.9pp · 2024: -41.5pp
• All cycles: 2024: R+41.5 2020: R+39.4 2016: R+37.7 2012: R+30.1 2008: R+14.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.06%
• Current HPI: 98.1121
• 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

• 2026-05-12 Listed $94,900 RMLSA as Distributed by MLS Grid
• 2026-03-13 Listing Removed — RMLSA as Distributed by MLS Grid
• 2025-11-04 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-09-13 Listed — RMLSA as Distributed by MLS Grid