1835 Market St · Madison, IL 62060

$49,900

3 bd · 1.0 ba · 1,346 sqft · SingleFamily public records · 9 Days on market

Built 1958 5,039 sqft lot

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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 +3.1/5.0
• Appreciation +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.2/10.0

Listing remarks

RANCH HOME ON CORNER LOT! 3 bedrooms - 1 bath - enormous detached garage. Enclosed porch would make a great office / bonus room. Spacious living room is a great space to gather with friends and family. Separate dining room. Functional kitchen offers a large pantry, plus newer refrigerator and range will stay. 3 extra large bedrooms with ample closet space. 1 full bath. Basement is unfinished but offers potential for additional square footage in the future, and great for storage. 2 car oversized detached garage is 1,080 square feet. Large loft above the entire garage. SOLD "AS IS" - no repairs will be made and sellers will not comply with Madison municipal inspections. Cash or conv

Key facts

• Unfinished basement
• Enclosed porch
• Large pantry

Tags

• CORNER LOT
• ENCLOSED PORCH
• LARGE PANTRY
• NEWER REFRIGERATOR
• NEWER RANGE
• UNFINISHED BASEMENT

Property features AI

Exterior

• Parking: Attached garage with space for 2 cars
• Utilities: Public water; Public sewer; Electric service (Ameren); Electricity and natural gas connected
• Home design: Single-family home; One level
• Construction: Vinyl and wood siding; Year built information from assessor
• Exterior features: Corner lot; Lot dimensions approximately 45.1 x 111.75 (irregular)

Interior

• Kitchen: Range; Refrigerator; Open to dining room (main level)
• Bedrooms: Three bedrooms (all on the main level); Bonus room on the main level
• Bathrooms: One full bathroom (on the main level)
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Dryer, Range, Refrigerator, Washer; Full basement
• Laundry & utility: Laundry located on the main level and in the basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $603 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).

Location & tenants

• Location reads 62/100 on livability (#861 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A-, housing B+; Watch: health & safety C-, amenities F, commute F.
• Madison CUSD 12 (suburban): math 2% / reading 4% proficiency, ranked #619 of 620 in IL (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 84% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Bernard Long Elem Sch (math 5% / reading 8%, grade F, #1,725 of 2,056 statewide, top 84%, 376 students, 0% FRL); Madison Jr High School (math 2% / reading 2%, grade F, #660 of 665 statewide, top 100%, 122 students, 0% FRL); Madison Senior High School (math 5% / reading 5%, grade F, #614 of 693 statewide, top 95%, 159 students, 0% FRL) — zoned schools average 0% FRL vs 84% district-wide (84 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 10 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 336 units permitted in Madison County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $345 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Madison County population projected at -18% 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 ~3 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $49,900

Questions for the listing agent

1. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 2.40% ✓
• Cap rate: 20.80%
• Cash-on-cash: 51.80%
• DSCR: 3.30
• GRM: 3.5

CMA / ARV

• ARV (on-the-fly): $111,718
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1664 5th St	0.33mi	3/1.0	1,200 (-11%)	0mo	$25,000	$21	67
1710 Edwardsville Rd	0.41mi	3/1.5	1,390 (+3%)	15mo	$121,000	$87	60
1821 Edwardsville Rd	0.48mi	3/2.5	1,302 (-3%)	7mo	$179,900	$138	60
1669 2nd St	0.28mi	2/1.0 (-1)	1,176 (-13%)	6mo	$30,000	$26	56
1142 Rhodes St	0.69mi	2/1.0 (-1)	1,165 (-13%)	9mo	$94,900	$81	33
1105 Meridian Ave	0.66mi	2/1.0 (-1)	1,149 (-15%)	23mo	$95,000	$83	21

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: 49.7%
• Equity multiple: 3.17×
• Total profit: $30,347
• Equity at exit: $7,440

10-year hold

• IRR: 55.2%
• Equity multiple: 6.44×
• Total profit: $75,965
• Equity at exit: $4,314

Cash invested: $13,972 (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 62060

• Home prices YoY: -2.0%
• Active inventory: 10
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,200 medium
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $748/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$252
• Net cashflow: $603

Break-even live

Break-even rent $437

Max offer price $49,900

Occupancy floor 45%

Sensitivity live

Price	-10% $638	-5% $620	+0% $603	+5% $586	+10% $569
Rent	-10% $508	-5% $556	+0% $603	+5% $651	+10% $698
Rate	-1.0pp $628	-0.5pp $616	base $603	+0.5pp $590	+1.0pp $577

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1534 7th St Unit A Madison, IL	2.0	1.0	900	$1,200	$1.33	14d	1	0.59mi

Listing history 6 events

1. 2026-06-13
   statusdays on market $49,900 Pending 9 DOM
2. 2026-06-09
   days on market $49,900 Active 7 DOM
3. 2026-06-08
   days on market $49,900 Active 6 DOM
4. 2026-06-07
   days on market $49,900 Active 5 DOM
5. 2026-06-02
   remarks 689-char remark
6. 2026-06-02
   listed $49,900 Active 1 DOM

ⓘ 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 6/10 Major FEMA zone X · 75% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,400
• − Mortgage interest: −$2,795
• − Property taxes: −$748
• − Insurance: −$250
• − Repairs & maintenance: −$1,152
• − Management: −$1,152
• − Depreciation: −$1,452
• Taxable income: $6,851
• Est. tax owed @ 24.0%: −$1,644
• After-tax cash flow: $5,594/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: Madison CUSD 12
• NCES district ID: 1723970
• Math proficiency: 2% ▼ -3.50%
• Reading proficiency: 4% ▼ -4.00%
• Median HH income: $23,597
• Composite: 1.5/100
• National rank: #10107
• State rank: #619 of 620 in IL

Livability — Madison

• Score: 62/100
• State rank: #861
• US rank: #16841

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Madison, IL
• City population: 3,619
• Population (ZIP): 3,619

Population outlook (Madison County) Hauer SSP2

• Today (2025): 258,371 people
• By 2030: 251,523 · -2.7%
• By 2040: 233,640 · -9.6%
• By 2050: 213,042 · -17.5%
• By 2075: 165,255 · -36.0%
• By 2100: 123,953 · -52.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (66%)
• Race & ethnicity: Black 66% White 23% Two or more races 10% Hispanic / Latino 4%
• Common ancestry: Romanian 2% Portuguese 1% Serbian 1%
• Foreign-born: 5% · Canada
• Languages at home: 95% English-only · Spanish 5%

Political lean MEDSL · Madison

• 2024 margin: R (+13.3) · D 42.5% · R 55.8% · Other 1.8%
• 2008→2024 swing: -22.5pp toward R · 2008: 9.2pp · 2024: -13.3pp
• All cycles: 2024: R+13.3 2020: R+13.2 2016: R+15.6 2012: R+1.4 2008: D+9.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -4.03%
• Current HPI: 197.5454
• 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

• 2026-06-02 Listed $49,900 MARIS as Distributed by MLS Grid