708 Wabash Ave · Paris, IL 61944

$49,000

3 bd · 1.0 ba · 936 sqft · SingleFamily · 256 Days on market

Built 1960 8,489 sqft lot $52/sqft · 38% below area Est $79k · 38% under ↓ 8% since listing

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.6/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Take a look at this 3 bedroom ranch-style home with a detached 2 car garage and an attached carport. The roof is approximately seven years old, and, according to the seller, some windows have been updated. The home offers hardwood floors and an eat-in kitchen. This property is in a great location, close to restaurants and shopping!

Key facts

• Attached carport
• Great location
• Eat-in kitchen

Tags

• DETACHED 2 CAR GARAGE
• ATTACHED CARPORT
• HARDWOOD FLOORS
• EAT-IN KITCHEN
• GREAT LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $49k.

Deal economics

• At list price, monthly cash flow is $345 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($953 rent vs $49k).
• Recommended offer: $43k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.1% vs local median 8.3% in Paris — 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 71/100 on livability (#342 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, crime F, amenities F.
• Paris-Union SD 95 (town): math 25% / reading 42% proficiency, ranked #227 of 620 in IL (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 82 active listings in the ZIP; 6 units permitted in Edgar County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $339 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Edgar County population projected at -30% 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 ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 256 days — a 12% lower offer ($43k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $16k (24%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $43,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 256 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 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. Crime grade is F 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 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: 1.94% ✓
• Cap rate: 16.09%
• Cash-on-cash: 34.99%
• DSCR: 2.56
• GRM: 4.3

CMA / ARV

• ARV (median comp): $79,060
• List price: $49,000
• Delta: -38.02%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
411 E Monroe St	0.27mi	2/1.0 (-1)	944 (+1%)	2mo	$97,000	$103	80
211 Bayard St	0.33mi	3/1.0	962 (+3%)	7mo	$97,000	$101	74
430 W Carroll St	0.62mi	3/1.0	924 (-1%)	12mo	$40,000	$43	59
402 E Van Buren St	0.37mi	2/1.0 (-1)	982 (+5%)	18mo	$60,000	$61	55
706 Douglas St	0.42mi	2/1.0 (-1)	1,052 (+12%)	8mo	$62,160	$59	48
1312 S Central Ave	0.50mi	2/1.0 (-1)	1,040 (+11%)	8mo	$83,000	$80	46
509 Milton St	0.66mi	3/1.0	1,015 (+8%)	13mo	$33,500	$33	44
701 Alexander St	0.51mi	2/1.0 (-1)	1,064 (+14%)	6mo	$54,000	$51	43
408 E Union St	0.69mi	2/1.0 (-1)	957 (+2%)	19mo	$24,500	$26	43
28 Helen Ave	0.58mi	3/1.0	1,025 (+10%)	18mo	$45,000	$44	42
105 S Eads Ave	0.72mi	3/1.0	1,008 (+8%)	22mo	$58,000	$58	36

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: 24.8%
• Equity multiple: 2.02×
• Total profit: $14,062
• Equity at exit: $7,306

10-year hold

• IRR: 32.6%
• Equity multiple: 3.97×
• Total profit: $40,734
• Equity at exit: $4,237

Cash invested: $13,720 (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 61944

• Active inventory: 82
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $953 medium
• Mortgage (P&I): −$257
• Tax from tax record: −$75 /mo · $904/yr
• Insurance: −$20
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$200
• Net cashflow: $345

Break-even live

Break-even rent $517

Max offer price $49,000

Occupancy floor 59%

Sensitivity live

Price	-10% $372	-5% $358	+0% $345	+5% $331	+10% $317
Rent	-10% $269	-5% $307	+0% $345	+5% $382	+10% $420
Rate	-1.0pp $369	-0.5pp $357	base $345	+0.5pp $332	+1.0pp $319

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: $12,250
• Closing costs: $1,470
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $49,000 Active 256 DOM
2. 2026-06-18
   days on market $49,000 Active 254 DOM
3. 2026-06-17
   days on market $49,000 Active 253 DOM
4. 2026-06-17
   price $49,000 Active 252 DOM
5. 2026-06-16
   days on market $59,900 Active 252 DOM
6. 2026-06-15
   days on market $59,900 Active 251 DOM
7. 2026-06-13
   days on market $59,900 Active 249 DOM
8. 2026-06-12
   days on market $59,900 Active 248 DOM
9. 2026-06-09
   days on market $59,900 Active 245 DOM
10. 2026-06-08
    days on market $59,900 Active 244 DOM
11. 2026-06-07
    days on market $59,900 Active 243 DOM
12. 2026-06-07
    days on market $59,900 Active 242 DOM
13. 2026-06-04
    days on market $59,900 Active 239 DOM
14. 2026-06-02
    days on market $59,900 Active 238 DOM
15. 2026-06-01
    days on market $59,900 Active 237 DOM
16. 2026-05-31
    days on market $59,900 Active 236 DOM
17. 2026-05-31
    days on market $59,900 Active 235 DOM
18. 2026-04-08
    status Active 333-char remark

    Show marketing remark (333 chars)

    Take a look at this 3 bedroom ranch-style home with a detached 2 car garage and an attached carport. The roof is approximately seven years old, and, according to the seller, some windows have been updated. The home offers hardwood floors and an eat-in kitchen. This property is in a great location, close to restaurants and shopping!

19. 2026-04-08
    price $59,900 333-char remark

    Show marketing remark (333 chars)

    Take a look at this 3 bedroom ranch-style home with a detached 2 car garage and an attached carport. The roof is approximately seven years old, and, according to the seller, some windows have been updated. The home offers hardwood floors and an eat-in kitchen. This property is in a great location, close to restaurants and shopping!

20. 2025-10-03
    listed $64,900 Active 333-char remark

    Show marketing remark (333 chars)

    Take a look at this 3 bedroom ranch-style home with a detached 2 car garage and an attached carport. The roof is approximately seven years old, and, according to the seller, some windows have been updated. The home offers hardwood floors and an eat-in kitchen. This property is in a great location, close to restaurants and shopping!

ⓘ 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: $904 · $75/mo
• Projected year-2 tax: $1,008 · $84/mo
• Expected delta: +$104/yr (+$9/mo · 11.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 95% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥104°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,435
• − Mortgage interest: −$2,745
• − Property taxes: −$904
• − Insurance: −$912
• − Repairs & maintenance: −$915
• − Management: −$915
• − Depreciation: −$1,425
• Taxable income: $3,620
• Est. tax owed @ 24.0%: −$869
• After-tax cash flow: $3,266/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: Paris-Union SD 95
• NCES district ID: 1730750
• Math proficiency: 25% ▼ -4.00%
• Reading proficiency: 42% ▼ -7.00%
• Median HH income: $36,294
• Composite: 27.73/100
• National rank: #6901
• State rank: #227 of 620 in IL

Livability — Paris

• Score: 71/100
• State rank: #342
• US rank: #6933

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Paris, IL
• City population: 11,426
• Population (ZIP): 11,426

Population outlook (Edgar County) Hauer SSP2

• Today (2025): 15,960 people
• By 2030: 14,978 · -6.2%
• By 2040: 12,990 · -18.6%
• By 2050: 11,087 · -30.5%
• By 2075: 7,338 · -54.0%
• By 2100: 4,526 · -71.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Slovak 2% Serbian 2% Italian 1%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 1% Other Indo-European 1%

Political lean MEDSL · Edgar

• 2024 margin: Solid R (+52.4) · D 23.0% · R 75.3% · Other 1.7%
• 2008→2024 swing: -44.4pp toward R · 2008: -7.9pp · 2024: -52.4pp
• All cycles: 2024: R+52.4 2020: R+52.5 2016: R+49.5 2012: R+32.8 2008: R+7.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -66.48%
• Current HPI: 108.1718
• 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

-7.7% since first listed

3 events — show timeline

• 2026-04-08 Relisted — CIBR
• 2026-04-08 Price Changed $59,900 CIBR
• 2025-10-03 Listed $64,900 CIBR