502 E 1st St · Maquon, IL 61458

$58,500

2 bd · 1.0 ba · 859 sqft · SingleFamily public records · 70 Days on market

Built 1933 5,213 sqft lot $68/sqft · 33% above area Est $44k · 33% over

---

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
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• Appreciation +5.0/10.0
• Schools +3.7/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks MLS

Charming Small Town Home Enjoy this two bedroom home. Nestled in a peaceful small town community this property offers both convenience and tranquility. The home has plenty of updated features to enjoy. The home features a practical layout with two bedrooms, living room, kitchen and laundry all on the main floor, making daily living simple and accessible. New roof and siding are an added plus. Whether you are looking for a starter home, a downsizing option, or an investment property, this home provides endless possibilities. Schedule your private showing today.

Key facts

• New siding
• Practical layout
• Updated features

Tags

• UPDATED FEATURES
• PRACTICAL LAYOUT
• NEW ROOF
• NEW SIDING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $58k.

Deal economics

• At list price, monthly cash flow is $308 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($858 rent vs $58k).
• Recommended offer: $55k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 58/100 on livability (#1,109 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools F, crime D-, amenities F.
• Spoon River Valley CUSD 4 (rural): math 35% / reading 45% proficiency, ranked #314 of 919 in IL (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 6 active listings in the ZIP.

Forward outlook

• In year one you build about $2k of equity ($404 loan paydown + $2k appreciation (3.0% local appreciation)).
• Knox County population projected at -19% 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 $16k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($55k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 11y ago; this cycle's ask has dropped $11k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $30k; list at $58k implies a 95% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1933 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $54,990 (6.0% below list)

Questions for the listing agent

1. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1933 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 1.47% ✓
• Cap rate: 12.60%
• Cash-on-cash: 22.53%
• DSCR: 2.00
• GRM: 5.7

CMA / ARV

• ARV (median comp): $44,004
• List price: $58,500
• Delta: 32.94%
• Verdict: OVERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
502 E 1st St	0.00mi	2/1.0	860 (+0%)	0mo	$58,500	$68	100

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: 28.7%
• Equity multiple: 2.63×
• Total profit: $26,630
• Equity at exit: $26,304

10-year hold

• IRR: 29.2%
• Equity multiple: 5.11×
• Total profit: $67,343
• Equity at exit: $40,538

Cash invested: $16,380 (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 61458

• Active inventory: 6
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $858 medium
• Mortgage (P&I): −$307
• Tax from tax record: −$39 /mo · $473/yr
• Insurance: −$24
• HOA: −$0
• Vacancy / Maint / Mgmt: −$180
• Net cashflow: $308

Break-even live

Break-even rent $469

Max offer price $58,500

Occupancy floor 59%

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: $14,625
• Closing costs: $1,755
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-05-13
   price $58,500 567-char remark

   Show marketing remark (567 chars)

   Charming Small Town Home Enjoy this two bedroom home. Nestled in a peaceful small town community this property offers both convenience and tranquility. The home has plenty of updated features to enjoy. The home features a practical layout with two bedrooms, living room, kitchen and laundry all on the main floor, making daily living simple and accessible. New roof and siding are an added plus. Whether you are looking for a starter home, a downsizing option, or an investment property, this home provides endless possibilities. Schedule your private showing today.

2. 2026-04-21
   price $62,500 567-char remark

   Show marketing remark (567 chars)

   Charming Small Town Home Enjoy this two bedroom home. Nestled in a peaceful small town community this property offers both convenience and tranquility. The home has plenty of updated features to enjoy. The home features a practical layout with two bedrooms, living room, kitchen and laundry all on the main floor, making daily living simple and accessible. New roof and siding are an added plus. Whether you are looking for a starter home, a downsizing option, or an investment property, this home provides endless possibilities. Schedule your private showing today.

3. 2026-03-28
   price $65,000 567-char remark

   Show marketing remark (567 chars)

   Charming Small Town Home Enjoy this two bedroom home. Nestled in a peaceful small town community this property offers both convenience and tranquility. The home has plenty of updated features to enjoy. The home features a practical layout with two bedrooms, living room, kitchen and laundry all on the main floor, making daily living simple and accessible. New roof and siding are an added plus. Whether you are looking for a starter home, a downsizing option, or an investment property, this home provides endless possibilities. Schedule your private showing today.

4. 2026-03-17
   listed $69,500 Active 567-char remark

   Show marketing remark (567 chars)

   Charming Small Town Home Enjoy this two bedroom home. Nestled in a peaceful small town community this property offers both convenience and tranquility. The home has plenty of updated features to enjoy. The home features a practical layout with two bedrooms, living room, kitchen and laundry all on the main floor, making daily living simple and accessible. New roof and siding are an added plus. Whether you are looking for a starter home, a downsizing option, or an investment property, this home provides endless possibilities. Schedule your private showing today.

5. 2024-11-26
   soldstatus $30,000 Closed 602-char remark

   Show marketing remark (602 chars)

   Delightful 2 BR, 1 BA bungalow on a corner lot just needs a little TLC to restore to original beauty. Gorgeous spring flowers bloom all over property & can be appreciated while sitting on the covered front porch enjoying small town living. Yummy peaches from fruit tree as well. Large, open living & dining room combo boasts high ceilings & lots of natural light through replacement windows. New water heater & toilet 2024. Main floor laundry. Spoon River Valley schools. Appliances present stay & all work except dryer will still tumble when door is open, but otherwise works fine.

6. 2024-11-17
   historical Under Contract 602-char remark

   Show marketing remark (602 chars)

   Delightful 2 BR, 1 BA bungalow on a corner lot just needs a little TLC to restore to original beauty. Gorgeous spring flowers bloom all over property & can be appreciated while sitting on the covered front porch enjoying small town living. Yummy peaches from fruit tree as well. Large, open living & dining room combo boasts high ceilings & lots of natural light through replacement windows. New water heater & toilet 2024. Main floor laundry. Spoon River Valley schools. Appliances present stay & all work except dryer will still tumble when door is open, but otherwise works fine.

7. 2024-10-21
   listed $37,500 Active 602-char remark

   Show marketing remark (602 chars)

   Delightful 2 BR, 1 BA bungalow on a corner lot just needs a little TLC to restore to original beauty. Gorgeous spring flowers bloom all over property & can be appreciated while sitting on the covered front porch enjoying small town living. Yummy peaches from fruit tree as well. Large, open living & dining room combo boasts high ceilings & lots of natural light through replacement windows. New water heater & toilet 2024. Main floor laundry. Spoon River Valley schools. Appliances present stay & all work except dryer will still tumble when door is open, but otherwise works fine.

8. 2021-04-12
   soldstatus $30,000
9. 2021-04-12
   soldstatus $30,000
10. 2020-10-05
    listed $34,900
11. 2020-10-05
    listed $34,900
12. 2015-06-05
    soldstatus $29,000
13. 2015-03-19
    listed $31,500

ⓘ 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: $473 · $39/mo
• Projected year-2 tax: $900 · $75/mo
• Expected delta: +$428/yr (+$36/mo · 90.5%)

ⓘ 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 ≥104°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,301
• − Mortgage interest: −$3,277
• − Property taxes: −$473
• − Insurance: −$292
• − Repairs & maintenance: −$824
• − Management: −$824
• − Depreciation: −$1,702
• Taxable income: $2,909
• Est. tax owed @ 24.0%: −$698
• After-tax cash flow: $2,993/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: Spoon River Valley CUSD 4
• NCES district ID: 1736960
• Math proficiency: 35% ▬ 0.00%
• Reading proficiency: 45% ▲ 5.00%
• Median HH income: $51,341
• Composite: 37.03/100
• National rank: #9073
• State rank: #314 of 919 in IL

Livability — Maquon

• Score: 58/100
• State rank: #1109
• US rank: #20984

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Maquon, IL
• Population (ZIP): 632

Population outlook (Knox County) Hauer SSP2

• Today (2025): 48,224 people
• By 2030: 46,333 · -3.9%
• By 2040: 42,424 · -12.0%
• By 2050: 38,929 · -19.3%
• By 2075: 31,523 · -34.6%
• By 2100: 24,092 · -50.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Hispanic / Latino 2%
• Common ancestry: Iranian 3% Italian 2% German 2%

Political lean MEDSL · Knox

• 2024 margin: Lean R (+9.4) · D 44.4% · R 53.7% · Other 1.9%
• 2008→2024 swing: -29.3pp toward R · 2008: 19.9pp · 2024: -9.4pp
• All cycles: 2024: R+9.4 2020: R+5.6 2016: R+3.3 2012: D+17.1 2008: D+19.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+85.7% since first listed

13 events — show timeline

• 2026-05-13 Price Changed $58,500 RMLSA as Distributed by MLS Grid
• 2026-04-21 Price Changed $62,500 RMLSA as Distributed by MLS Grid
• 2026-03-28 Price Changed $65,000 RMLSA as Distributed by MLS Grid
• 2026-03-17 Listed $69,500 RMLSA as Distributed by MLS Grid
• 2024-11-26 Sold (MLS) $30,000 RMLSA as Distributed by MLS Grid
• 2024-11-17 Contingent — RMLSA as Distributed by MLS Grid
• 2024-10-21 Listed $37,500 RMLSA as Distributed by MLS Grid
• 2021-04-12 Sold (MLS) $30,000 RMLSA as Distributed by MLS Grid
• 2021-04-12 Sold (MLS) $30,000 MRED as Distributed by MLS Grid
• 2020-10-05 Listed $34,900 RMLSA as Distributed by MLS Grid
• 2020-10-05 Listed $34,900 MRED as Distributed by MLS Grid
• 2015-06-05 Sold (MLS) $29,000 RMLSA as Distributed by MLS Grid
• 2015-03-19 Listed $31,500 RMLSA as Distributed by MLS Grid

Property tax history

-3.9%/yr

Latest (2024): $473 · +27.4% YoY. Source: county tax records.