355 Bainbridge St · Barry, IL 62312

$72,000

2 bd · 2.0 ba · 1,104 sqft · Other · 89 Days on market

Built 1973 0.47 ac 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 +29.4/30.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +2.2/10.0
• Schools +1.9/10.0

Listing remarks MLS

The home you've been waiting on that provides space, storage, and a bathroom for everyone at price you won't believe! Step inside this 2-bedroom, 2 full bath home that has a massive living room, formal dining room, office, and kitchen that conveys all appliances you see pictured. This home sits on just shy of half an acre of land, has a beautiful covered front porch, 2 exterior storage sheds, and an oversized carport to keep the weather off your vehicle. Too good to be true? Schedule your showing and see for yourself!

Key facts

• Covered front porch
• Massive living room
• Formal dining room

Tags

• MASSIVE LIVING ROOM
• FORMAL DINING ROOM
• COVERED FRONT PORCH
• EXTERIOR STORAGE SHEDS
• OVERSIZED CARPORT

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $72k.

Deal economics

• At list price, monthly cash flow is $255 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($961 rent vs $72k).
• Recommended offer: $68k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#808 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, employment F.
• Western CUSD 12 (rural): math 18% / reading 27% proficiency, ranked #395 of 620 in IL (top 64%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Western Barry Elem (math 22% / reading 22%, grade F, #940 of 2,056 statewide, top 49%, 229 students, 0% FRL); Western Jr High School (math 12% / reading 32%, grade F, #389 of 665 statewide, top 60%, 160 students, 0% FRL); Western High School (math 30% / reading 10%, grade F, #357 of 693 statewide, top 54%, 140 students, 0% FRL) — zoned schools average 0% FRL vs 43% district-wide (43 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 6 active listings in the ZIP; 20 units permitted in Pike County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $498 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Pike 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 $20k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 89 days — a 6% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $67,680 (6.0% below list)

Questions for the listing agent

1. It's been on market 89 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 1973 — 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 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?
6. 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.
7. 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.
8. 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: 1.33% ✓
• Cap rate: 10.54%
• Cash-on-cash: 15.16%
• DSCR: 1.67
• GRM: 6.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 5.8%
• Equity multiple: 1.23×
• Total profit: $4,568
• Equity at exit: $10,735

10-year hold

• IRR: 15.2%
• Equity multiple: 2.24×
• Total profit: $24,936
• Equity at exit: $6,225

Cash invested: $20,160 (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 62312

• Home prices YoY: -5.0%
• Active inventory: 6
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $961 medium
• Mortgage (P&I): −$378
• Tax from tax record: −$97 /mo · $1,166/yr
• Insurance: −$30
• HOA: −$0
• Vacancy / Maint / Mgmt: −$202
• Net cashflow: $255

Break-even live

Break-even rent $639

Max offer price $72,000

Occupancy floor 69%

Sensitivity live

Price	-10% $295	-5% $275	+0% $255	+5% $234	+10% $214
Rent	-10% $179	-5% $217	+0% $255	+5% $293	+10% $331
Rate	-1.0pp $291	-0.5pp $273	base $255	+0.5pp $236	+1.0pp $217

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: $18,000
• Closing costs: $2,160
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-02
   days on market $72,000 Active 89 DOM
2. 2026-06-01
   days on market $72,000 Active 88 DOM
3. 2026-05-31
   days on market $72,000 Active 87 DOM
4. 2026-05-31
   days on market $72,000 Active 86 DOM
5. 2026-03-31
   historical
6. 2026-03-05
   listed $72,000 Active 523-char remark

   Show marketing remark (523 chars)

   The home you've been waiting on that provides space, storage, and a bathroom for everyone at price you won't believe! Step inside this 2-bedroom, 2 full bath home that has a massive living room, formal dining room, office, and kitchen that conveys all appliances you see pictured. This home sits on just shy of half an acre of land, has a beautiful covered front porch, 2 exterior storage sheds, and an oversized carport to keep the weather off your vehicle. Too good to be true? Schedule your showing and see for yourself!

7. 2026-03-03
   listed Active
8. 2026-03-03
   listed $72,000 Active

ⓘ 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: $1,166 · $97/mo
• Projected year-2 tax: $1,400 · $117/mo
• Expected delta: +$234/yr (+$20/mo · 20.1%)

ⓘ 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 · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,534
• − Mortgage interest: −$4,033
• − Property taxes: −$1,166
• − Insurance: −$360
• − Repairs & maintenance: −$923
• − Management: −$923
• − Depreciation: −$2,095
• Taxable income: $2,035
• Est. tax owed @ 24.0%: −$488
• After-tax cash flow: $2,567/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: Western CUSD 12
• NCES district ID: 1701387
• Math proficiency: 18% ▼ -3.00%
• Reading proficiency: 27% ▼ -4.00%
• Median HH income: $41,536
• Composite: 19.14/100
• National rank: #8826
• State rank: #395 of 620 in IL

Livability — Barry

• Score: 63/100
• State rank: #808
• US rank: #15977

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Barry, IL
• Population (ZIP): 1,878

Population outlook (Pike County) Hauer SSP2

• Today (2025): 15,069 people
• By 2030: 14,505 · -3.7%
• By 2040: 13,340 · -11.5%
• By 2050: 12,159 · -19.3%
• By 2075: 9,227 · -38.8%
• By 2100: 6,064 · -59.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Hispanic / Latino 2%
• Common ancestry: Lithuanian 4% Romanian 2% Slovak 2%
• Foreign-born: 2% · Canada, China
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Pike

• 2024 margin: Solid R (+63.7) · D 17.4% · R 81.1% · Other 1.6%
• 2008→2024 swing: -44.9pp toward R · 2008: -18.8pp · 2024: -63.7pp
• All cycles: 2024: R+63.7 2020: R+60.9 2016: R+58.2 2012: R+35.4 2008: R+18.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -5.69%
• Current HPI: 108.54
• 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

+0.0% since first listed

4 events — show timeline

• 2026-03-31 Listing Removed — RMLSA as Distributed by MLS Grid
• 2026-03-05 Listed $72,000 MARIS as Distributed by MLS Grid
• 2026-03-03 Listed $72,000 MRED as Distributed by MLS Grid
• 2026-03-03 Listed — RMLSA as Distributed by MLS Grid

Property tax history

+23.4%/yr

Latest (2024): $1,166 · +6.1% YoY. Source: county tax records.