310 E Detroit Ave · Monmouth, IL 61462

$117,500

5 bd · 2.0 ba · 2,806 sqft · MultiFamily · 137 Days on market

Built 1900 Fair condition 0.26 ac lot $42/sqft · 143% above area ↓ 4% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

Well-maintained early 1900s up-and-down Victorian two-unit property offering approximately 2800 square feet. The lower unit features three bedrooms and one full bath, while the upper unit offers two bedrooms and one full bath. Tenants pay their own utilities with separate meters in place. Recent updates include a new furnace. Property includes on-street parking along with a one and a half-car garage. Solid investment opportunity conveniently located just 3 blocks from Monmouth College.

Key facts

• New furnace
• Two unit property
• On street parking

Tags

• TWO UNIT PROPERTY
• NEW FURNACE
• ON STREET PARKING
• INVESTMENT OPPORTUNITY
• CONVENIENTLY LOCATED

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath multifamily listed at $118k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $901 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $118k).
• Recommended offer: $103k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#372 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety D+, employment D, schools D-.
• Monmouth-Roseville CUSD 238 (town): math 10% / reading 21% proficiency, ranked #511 of 620 in IL (top 82%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 13 active listings in the ZIP; 43 units permitted in Warren County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $812 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Warren County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $33k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 137 days — a 12% lower offer ($103k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $103,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 137 days. Have you received any prior offers? Is the seller open to a 12% 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. 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 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: 1.85% ✓
• Cap rate: 15.50%
• Cash-on-cash: 32.88%
• DSCR: 2.46
• GRM: 4.5

CMA / ARV

• ARV (median comp): $48,305
• List price: $117,500
• Delta: 143.25%
• Verdict: OVERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 28.0%
• Equity multiple: 2.17×
• Total profit: $38,409
• Equity at exit: $17,520

10-year hold

• IRR: 35.5%
• Equity multiple: 4.27×
• Total profit: $107,512
• Equity at exit: $10,159

Cash invested: $32,900 (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 61462

• Home prices YoY: -22.1%
• Active inventory: 13
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $2,169 medium
• Mortgage (P&I): −$616
• Tax est. 1.5%: −$147 /mo · $1,762/yr
• Insurance: −$49
• HOA: −$0
• Vacancy / Maint / Mgmt: −$455
• Net cashflow: $901

Break-even live

Break-even rent $1,028

Max offer price $117,500

Occupancy floor 53%

Sensitivity live

Price	-10% $983	-5% $942	+0% $901	+5% $861	+10% $820
Rent	-10% $730	-5% $816	+0% $901	+5% $987	+10% $1,073
Rate	-1.0pp $961	-0.5pp $931	base $901	+0.5pp $871	+1.0pp $840

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

Units	Beds	Baths	Est. rent
1× unit	3	1	$1,099
1× unit	2	1	$1,071
Total (2 units)			$2,169

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: $29,375
• Closing costs: $3,525
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $117,500 Under Contract 137 DOM
2. 2026-06-18
   days on market $117,500 Under Contract 135 DOM
3. 2026-06-17
   days on market $117,500 Under Contract 134 DOM
4. 2026-06-16
   days on market $117,500 Under Contract 133 DOM
5. 2026-06-15
   days on market $117,500 Under Contract 132 DOM
6. 2026-06-13
   days on market $117,500 Under Contract 130 DOM
7. 2026-06-12
   days on market $117,500 Under Contract 129 DOM
8. 2026-06-09
   days on market $117,500 Under Contract 126 DOM
9. 2026-06-08
   days on market $117,500 Under Contract 125 DOM
10. 2026-06-07
    days on market $117,500 Under Contract 124 DOM
11. 2026-06-07
    days on market $117,500 Under Contract 123 DOM
12. 2026-06-04
    days on market $117,500 Under Contract 120 DOM
13. 2026-06-02
    days on market $117,500 Under Contract 119 DOM
14. 2026-06-01
    days on market $117,500 Under Contract 118 DOM
15. 2026-05-31
    days on market $117,500 Under Contract 117 DOM
16. 2026-05-31
    statusdays on market $117,500 Under Contract 116 DOM
17. 2026-03-16
    price $117,500 495-char remark

    Show marketing remark (495 chars)

    Well-maintained early 1900s up-and-down Victorian two-unit property offering approximately 2800 square feet. The lower unit features three bedrooms and one full bath, while the upper unit offers two bedrooms and one full bath. Tenants pay their own utilities with separate meters in place. Recent updates include a new furnace. Property includes on-street parking along with a one and a half-car garage. Solid investment opportunity conveniently located just 3 blocks from Monmouth College.

18. 2026-02-03
    listed $122,000 Active 495-char remark

    Show marketing remark (495 chars)

    Well-maintained early 1900s up-and-down Victorian two-unit property offering approximately 2800 square feet. The lower unit features three bedrooms and one full bath, while the upper unit offers two bedrooms and one full bath. Tenants pay their own utilities with separate meters in place. Recent updates include a new furnace. Property includes on-street parking along with a one and a half-car garage. Solid investment opportunity conveniently located just 3 blocks from Monmouth College.

19. 2020-08-11
    historical

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

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 ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,028
• − Mortgage interest: −$6,582
• − Property taxes: −$1,762
• − Insurance: −$588
• − Repairs & maintenance: −$2,082
• − Management: −$2,082
• − Depreciation: −$3,418
• Taxable income: $9,514
• Est. tax owed @ 24.0%: −$2,283
• After-tax cash flow: $8,535/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 · 10 photos

Fair 45/100 Moderate rehab

This multi-family property requires moderate rehabilitation, including exterior siding replacement, interior updates, and landscaping improvements. The home has potential for increased value through these updates.

Repairs flagged

• Major exterior siding — The exterior siding is in poor condition and needs replacement.
• Minor kitchen flooring — The flooring is dated but not severely damaged.
• Minor bathroom flooring — The flooring is dated but not severely damaged.
• Minor interior walls/paint — The walls and paint are dated but not severely damaged.
• Major landscaping — The landscaping is overgrown and in poor condition, requiring significant work to improve curb appeal.

Value-add opportunities

• Both painting interior walls and ceilings — Updating the interior walls and ceilings will improve the home's appearance and appeal to potential buyers or renters.
• Both replacing dated fixtures in bathrooms — Replacing dated fixtures in bathrooms will improve the home's functionality and appeal to potential buyers or renters.
• Both upgrading dated flooring in kitchen and bathrooms — Upgrading the dated flooring in the kitchen and bathrooms will improve the home's functionality and appeal to potential buyers or renters.
• Both landscaping and improving curb appeal — Landscaping and improving curb appeal will enhance the home's exterior and increase its overall appeal to potential buyers or renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · The exterior siding is in poor condition and needs replacement.	Major	$15,000–50,000
kitchen flooring · The flooring is dated but not severely damaged.	Minor	$500–3,000
bathroom flooring · The flooring is dated but not severely damaged.	Minor	$500–3,000
interior walls/paint · The walls and paint are dated but not severely damaged.	Minor	$500–3,000
landscaping · The landscaping is overgrown and in poor condition, requiring significant work to improve curb appeal.	Major	$15,000–50,000
Total estimated repair cost · 5 items		$31,500–109,000

Value-add ROI direction

• Both painting interior walls and ceilings — Updating the interior walls and ceilings will improve the home's appearance and appeal to potential buyers or renters. ↑
• Both replacing dated fixtures in bathrooms — Replacing dated fixtures in bathrooms will improve the home's functionality and appeal to potential buyers or renters. ↑
• Both upgrading dated flooring in kitchen and bathrooms — Upgrading the dated flooring in the kitchen and bathrooms will improve the home's functionality and appeal to potential buyers or renters. ↑
• Both landscaping and improving curb appeal — Landscaping and improving curb appeal will enhance the home's exterior and increase its overall appeal to potential buyers or renters. ↑

ⓘ 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: Monmouth-Roseville CUSD 238
• NCES district ID: 1700320
• Math proficiency: 10% ▼ -6.00%
• Reading proficiency: 21% ▼ -8.00%
• Median HH income: $40,228
• Composite: 13.21/100
• National rank: #9552
• State rank: #511 of 620 in IL

Livability — Monmouth

• Score: 70/100
• State rank: #372
• US rank: #7739

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Monmouth, IL
• City population: 10,640
• Population (ZIP): 10,640

Population outlook (Warren County) Hauer SSP2

• Today (2025): 17,168 people
• By 2030: 16,771 · -2.3%
• By 2040: 15,988 · -6.9%
• By 2050: 15,471 · -9.9%
• By 2075: 15,053 · -12.3%
• By 2100: 14,513 · -15.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 16% Two or more races 5% Black 4% Asian 4% Native American 2%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Lithuanian 3% Slovak 2% Romanian 2%
• Foreign-born: 9% · Canada, Philippines, United Kingdom
• Languages at home: 85% English-only · Spanish 10% Other Asian/Pacific 2% French/Haitian/Cajun 2%

Political lean MEDSL · Warren

• 2024 margin: Strong R (+25.1) · D 36.5% · R 61.6% · Other 1.9%
• 2008→2024 swing: -33.2pp toward R · 2008: 8.1pp · 2024: -25.1pp
• All cycles: 2024: R+25.1 2020: R+20.0 2016: R+16.7 2012: D+5.8 2008: D+8.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -39.51%
• Current HPI: 139.0562
• 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

-3.7% since first listed

3 events — show timeline

• 2026-03-16 Price Changed $117,500 RMLSA as Distributed by MLS Grid
• 2026-02-03 Listed $122,000 RMLSA as Distributed by MLS Grid
• 2020-08-11 Listing Removed — RMLSA as Distributed by MLS Grid