409 E Mound St · Sparta, IL 62286

$79,900

3 bd · 1.0 ba · 960 sqft · SingleFamily · 156 Days on market

Built 1960 6,969 sqft lot $83/sqft · 34% above area Est $59k · 34% over

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Why this score? — see what drove the D 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 +20.1/30.0
• DSCR +6.4/10.0
• 1% rule +5.1/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

3-bedroom, 1-bath all-electric home, recently vacated and ready for its next owner! Previously used as a rental, this property offers a versatile storage area that could easily be reopened as a 1-car garage or transformed into additional living space, such as a master suite, home office, or hobby room. Comfortable living areas, functional layout, and the opportunity to customize or expand make this home perfect for buyers looking for move-in ready convenience with room to grow.

Key facts

• All electric home
• 6,969 sq ft lot
• Built 1960

Tags

• ALL ELECTRIC HOME
• VERSATILE STORAGE AREA
• ADDITIONAL LIVING SPACE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $99 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($809 rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 58/100 on livability (#1,090 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime B+; Watch: employment C-, schools F, amenities F.
• Sparta CUSD 140 (town): math 13% / reading 14% proficiency, ranked #535 of 620 in IL (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 31 active listings in the ZIP; 3 units permitted in Randolph County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $552 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Randolph County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 156 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $70,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 156 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 1.01% ✓
• Cap rate: 7.78%
• Cash-on-cash: 5.30%
• DSCR: 1.24
• GRM: 8.2

CMA / ARV

• ARV (median comp): $59,427
• List price: $79,900
• Delta: 34.45%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
408 E Mound St	0.02mi	3/1.0	998 (+4%)	3mo	$79,900	$80	90
520 E Mound St	0.11mi	2/1.0 (-1)	924 (-4%)	6mo	$70,000	$76	79
510 E Main St	0.32mi	2/1.0 (-1)	1,000 (+4%)	2mo	$48,000	$48	72
305 N James St	0.51mi	3/1.0	884 (-8%)	2mo	$117,500	$133	62
109 S Washington St	0.38mi	2/1.0 (-1)	1,072 (+12%)	1mo	$14,000	$13	57
206 S Dewey St	0.45mi	3/1.5	1,080 (+12%)	2mo	$155,000	$144	54
317 N Washington St	0.18mi	2/1.0 (-1)	1,100 (+15%)	10mo	$32,100	$29	54
419 W Park Ave	0.69mi	2/1.0 (-1)	950 (-1%)	8mo	$76,000	$80	54
1009 Meadow Dr	0.66mi	3/1.0	944 (-2%)	20mo	$120,000	$127	50
401 N James St	0.50mi	3/1.0	1,040 (+8%)	16mo	$87,500	$84	49
907 E Harrison St	0.35mi	2/2.0 (-1)	840 (-12%)	14mo	$47,500	$57	42
331 S Market	0.63mi	3/1.0	1,104 (+15%)	14mo	$60,000	$54	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: -8.1%
• Equity multiple: 0.70×
• Total profit: $-6,655
• Equity at exit: $11,913

10-year hold

• IRR: 1.5%
• Equity multiple: 1.10×
• Total profit: $2,321
• Equity at exit: $6,908

Cash invested: $22,372 (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 62286

• Home prices YoY: -31.0%
• Active inventory: 31
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $809 medium
• Mortgage (P&I): −$419
• Tax from tax record: −$88 /mo · $1,053/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$170
• Net cashflow: $99

Break-even live

Break-even rent $684

Max offer price $79,900

Occupancy floor 83%

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $79,900 Active 156 DOM
2. 2026-06-17
   days on market $79,900 Active 155 DOM
3. 2026-06-16
   days on market $79,900 Active 154 DOM
4. 2026-06-15
   days on market $79,900 Active 153 DOM
5. 2026-06-13
   days on market $79,900 Active 151 DOM
6. 2026-06-12
   days on market $79,900 Active 150 DOM
7. 2026-06-09
   days on market $79,900 Active 147 DOM
8. 2026-06-08
   days on market $79,900 Active 146 DOM
9. 2026-06-07
   days on market $79,900 Active 145 DOM
10. 2026-06-07
    days on market $79,900 Active 144 DOM
11. 2026-06-04
    days on market $79,900 Active 141 DOM
12. 2026-06-02
    days on market $79,900 Active 140 DOM
13. 2026-06-01
    days on market $79,900 Active 139 DOM
14. 2026-05-31
    days on market $79,900 Active 138 DOM
15. 2026-05-31
    days on market $79,900 Active 137 DOM
16. 2026-01-13
    listed $79,900 Active 482-char remark

    Show marketing remark (482 chars)

    3-bedroom, 1-bath all-electric home, recently vacated and ready for its next owner! Previously used as a rental, this property offers a versatile storage area that could easily be reopened as a 1-car garage or transformed into additional living space, such as a master suite, home office, or hobby room. Comfortable living areas, functional layout, and the opportunity to customize or expand make this home perfect for buyers looking for move-in ready convenience with room to grow.

ⓘ 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: $1,053 · $88/mo
• Projected year-2 tax: $1,434 · $119/mo
• Expected delta: +$380/yr (+$32/mo · 36.1%)

ⓘ 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 5/10 Major 7 d/yr ≥106°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,703
• − Mortgage interest: −$4,476
• − Property taxes: −$1,053
• − Insurance: −$400
• − Repairs & maintenance: −$776
• − Management: −$776
• − Depreciation: −$2,324
• Taxable loss: −$102
• Est. tax savings @ 24.0%: +$25
• After-tax cash flow: $1,209/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: Sparta CUSD 140
• NCES district ID: 1736900
• Math proficiency: 13% ▼ -10.00%
• Reading proficiency: 14% ▼ -13.00%
• Median HH income: $43,992
• Composite: 11.95/100
• National rank: #9668
• State rank: #535 of 620 in IL

Livability — Sparta

• Score: 58/100
• State rank: #1090
• US rank: #20732

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sparta, IL
• City population: 5,482
• Population (ZIP): 5,482

Population outlook (Randolph County) Hauer SSP2

• Today (2025): 31,417 people
• By 2030: 30,519 · -2.9%
• By 2040: 28,841 · -8.2%
• By 2050: 27,150 · -13.6%
• By 2075: 22,569 · -28.2%
• By 2100: 16,584 · -47.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Black 10% Two or more races 7% Hispanic / Latino 3%
• Common ancestry: Serbian 9% Lithuanian 2% Slovak 2%
• Languages at home: 99% English-only · French/Haitian/Cajun 1%

Political lean MEDSL · Randolph

• 2024 margin: Solid R (+50.0) · D 24.1% · R 74.1% · Other 1.7%
• 2008→2024 swing: -49.0pp toward R · 2008: -0.9pp · 2024: -50.0pp
• All cycles: 2024: R+50.0 2020: R+50.2 2016: R+46.8 2012: R+17.6 2008: R+0.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -52.47%
• Current HPI: 116.6798
• 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

• 2026-01-13 Listed $79,900 MARIS as Distributed by MLS Grid

Property tax history

+17.5%/yr

Latest (2024): $1,053 · +1.4% YoY. Source: county tax records.