306 E 6th St · Pana, IL 62557

$89,900

4 bd · 2.0 ba · 1,676 sqft · SingleFamily public records · 42 Days on market

Built 1933 6,800 sqft lot $54/sqft · 18% below area Est $109k · 18% under

---

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 +27.8/30.0
• ARV discount +15.0/15.0
• DSCR +9.8/10.0
• 1% rule +7.1/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

4 bedroom home with an additional 9x20 bonus room which could be used for an office, another bedroom, or to to add an additional bathroom. Features a large living and dining room, full basement, 2 car attached garage, and fenced in backyard. This home has plenty of storage with large closets. Additional hook ups for washer and dryer in basement or can remain on main level.

Key facts

• 6,800 sq ft lot
• 2 garage spots
• Built 1933

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $275 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.0% vs local median 6.4% in Pana — 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 65/100 on livability (#599 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Pana CUSD 8 (town): math 20% / reading 29% proficiency, ranked #360 of 620 in IL (top 58%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 66 active listings in the ZIP; 26 units permitted in Christian County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Christian County population projected at -24% 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 $25k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $42k; list at $90k implies a 114% 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 $87,203 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.21% ✓
• Cap rate: 9.97%
• Cash-on-cash: 13.12%
• DSCR: 1.58
• GRM: 6.9

CMA / ARV

• ARV (median comp): $109,258
• List price: $89,900
• Delta: -17.72%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
707 Kitchell St	0.20mi	4/1.0	1,768 (+6%)	1mo	$30,000	$17	77
401 E Fourth St	0.16mi	3/1.5 (-1)	1,720 (+3%)	10mo	$142,000	$83	73
803 E 3rd St	0.44mi	3/2.0 (-1)	1,659 (-1%)	3mo	$115,000	$69	70
306 S Pine St	0.50mi	3/1.0 (-1)	1,656 (-1%)	8mo	$120,000	$72	59
210 S State St	0.55mi	3/1.0 (-1)	1,675 (-0%)	7mo	$70,000	$42	59
1003 Fair Ave	0.43mi	3/1.5 (-1)	1,799 (+7%)	4mo	$115,000	$64	57
218 1/2 S Hickory St	0.38mi	3/1.0 (-1)	1,566 (-7%)	10mo	$73,049	$47	53
800 Progress St	0.40mi	3/1.0 (-1)	1,456 (-13%)	0mo	$145,000	$100	50
111 W 7th St	0.52mi	3/1.0 (-1)	1,560 (-7%)	11mo	$199,900	$128	46
714 Cedar St	0.37mi	3/2.0 (-1)	1,448 (-14%)	12mo	$184,900	$128	45
601 Wilson St	0.65mi	3/1.0 (-1)	1,424 (-15%)	0mo	$153,500	$108	35
803 E 1st St	0.51mi	3/1.0 (-1)	1,448 (-14%)	13mo	$40,000	$28	34

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: 3.1%
• Equity multiple: 1.12×
• Total profit: $2,959
• Equity at exit: $13,404

10-year hold

• IRR: 12.6%
• Equity multiple: 2.00×
• Total profit: $25,133
• Equity at exit: $7,773

Cash invested: $25,172 (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 62557

• Home prices YoY: -18.5%
• Active inventory: 66
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,092 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$78 /mo · $939/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$229
• Net cashflow: $275

Break-even live

Break-even rent $743

Max offer price $89,900

Occupancy floor 70%

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-04-29
   price $89,900 375-char remark

   Show marketing remark (375 chars)

   4 bedroom home with an additional 9x20 bonus room which could be used for an office, another bedroom, or to to add an additional bathroom. Features a large living and dining room, full basement, 2 car attached garage, and fenced in backyard. This home has plenty of storage with large closets. Additional hook ups for washer and dryer in basement or can remain on main level.

2. 2026-04-09
   listed $94,900 Active 375-char remark

   Show marketing remark (375 chars)

   4 bedroom home with an additional 9x20 bonus room which could be used for an office, another bedroom, or to to add an additional bathroom. Features a large living and dining room, full basement, 2 car attached garage, and fenced in backyard. This home has plenty of storage with large closets. Additional hook ups for washer and dryer in basement or can remain on main level.

3. 1994-06-01
   soldstatus $42,000

ⓘ 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: $939 · $78/mo
• Projected year-2 tax: $1,490 · $124/mo
• Expected delta: +$551/yr (+$46/mo · 58.7%)

ⓘ 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 4/10 Moderate 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,100
• − Mortgage interest: −$5,036
• − Property taxes: −$939
• − Insurance: −$450
• − Repairs & maintenance: −$1,048
• − Management: −$1,048
• − Depreciation: −$2,615
• Taxable income: $1,964
• Est. tax owed @ 24.0%: −$471
• After-tax cash flow: $2,832/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: Pana CUSD 8
• NCES district ID: 1730630
• Math proficiency: 20% ▼ -4.00%
• Reading proficiency: 29% ▼ -7.00%
• Median HH income: $42,385
• Composite: 20.88/100
• National rank: #8493
• State rank: #360 of 620 in IL

Livability — Pana

• Score: 65/100
• State rank: #599
• US rank: #12409

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pana, IL
• Population (ZIP): 6,859

Population outlook (Christian County) Hauer SSP2

• Today (2025): 31,182 people
• By 2030: 29,787 · -4.5%
• By 2040: 26,793 · -14.1%
• By 2050: 23,757 · -23.8%
• By 2075: 17,333 · -44.4%
• By 2100: 11,573 · -62.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 5% Two or more races 3% Black 1%
• Common ancestry: Lithuanian 4% Slovak 3% Romanian 3%
• Foreign-born: 1% · Canada

Political lean MEDSL · Christian

• 2024 margin: Solid R (+46.7) · D 25.9% · R 72.6% · Other 1.5%
• 2008→2024 swing: -40.4pp toward R · 2008: -6.3pp · 2024: -46.7pp
• All cycles: 2024: R+46.7 2020: R+44.6 2016: R+42.7 2012: R+23.1 2008: R+6.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -30.82%
• Current HPI: 135.6938
• 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

+114.0% since first listed

3 events — show timeline

• 2026-04-29 Price Changed $89,900 CIBR
• 2026-04-09 Listed $94,900 CIBR
• 1994-06-01 Sold (Public Records) $42,000 Public Records

Property tax history

-3.4%/yr

Latest (2024): $939 · -16.2% YoY. Source: county tax records.