214-216 N 7th St · Mount Vernon, IL 62864

$30,000

2 bd · 1.0 ba · 868 sqft · Other · 46 Days on market

Built 1920 0.35 ac lot ↓ 9% 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 +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Near downtown is this project house that needs repair and updating. Two bedrooms, one bath and two lots. Large eat-in Kitchen.

Key facts

• Two lots
• Large eat-in kitchen
• 0.35 acre lot

Tags

• LARGE EAT-IN KITCHEN
• TWO LOTS

Property features AI

Finance

• Other: Directions: Main or Broadway to 7th St, turn north, continue past Harrison — home on the right
• Financial info: Special service area: No
• HOA & community: No master association fee required

Exterior

• Utilities: Public water; Public sewer
• Home design: Detached single-family home; One-story layout; Fee simple ownership; Built over 100 years ago; Home built before 1978
• Construction: Masonite exterior; No significant rebuild or rehab reported
• Exterior features: Irregular lot dimensions (multiple side lengths)

Interior

• Kitchen: Kitchen (main level) — 13 x 12
• Bedrooms: Master bedroom (main level) — 14 x 11; Bedroom 2 (main level) — 11 x 11; Additional bedrooms listed
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas forced air heating
• Interior features: Five total rooms; Unfinished full basement
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $30k.

Deal economics

• At list price, monthly cash flow is $514 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($951 rent vs $30k).
• Recommended offer: $29k (3.0% below list) — sets the bar for market timing.
• Cap rate 26.9% vs local median 5.2% in Mount Vernon — 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 69/100 on livability (#413 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools F, amenities F, commute F.
• Mt Vernon Twp Hsd 201 (town): math 13% / reading 16% proficiency, ranked #532 of 620 in IL (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 191 active listings in the ZIP; 6 units permitted in Jefferson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $207 of loan paydown is wiped out by about $900 of value loss. Plan a longer hold.
• Jefferson County population projected at -14% 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 $8k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($29k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y ago 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.
• Current owner paid $5k; list at $30k implies a 456% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $29,100 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 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 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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: 3.17% ✓
• Cap rate: 26.86%
• Cash-on-cash: 73.45%
• DSCR: 4.27
• GRM: 2.6

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: 73.3%
• Equity multiple: 4.32×
• Total profit: $27,920
• Equity at exit: $4,473

10-year hold

• IRR: 77.1%
• Equity multiple: 8.93×
• Total profit: $66,615
• Equity at exit: $2,594

Cash invested: $8,400 (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 62864

• Active inventory: 191
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $951 medium
• Mortgage (P&I): −$157
• Tax from tax record: −$68 /mo · $812/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$200
• Net cashflow: $514

Break-even live

Break-even rent $301

Max offer price $30,000

Occupancy floor 41%

Sensitivity live

Price	-10% $531	-5% $523	+0% $514	+5% $506	+10% $497
Rent	-10% $439	-5% $477	+0% $514	+5% $552	+10% $589
Rate	-1.0pp $529	-0.5pp $522	base $514	+0.5pp $506	+1.0pp $499

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: $7,500
• Closing costs: $900
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-21
   days on market $30,000 Active 46 DOM
2. 2026-06-18
   days on market $30,000 Active 44 DOM
3. 2026-06-17
   days on market $30,000 Active 43 DOM
4. 2026-06-16
   days on market $30,000 Active 42 DOM
5. 2026-06-15
   days on market $30,000 Active 41 DOM
6. 2026-06-13
   days on market $30,000 Active 39 DOM
7. 2026-06-12
   days on market $30,000 Active 38 DOM
8. 2026-06-09
   days on market $30,000 Active 35 DOM
9. 2026-06-08
   days on market $30,000 Active 34 DOM
10. 2026-06-07
    days on market $30,000 Active 33 DOM
11. 2026-06-07
    days on market $30,000 Active 32 DOM
12. 2026-06-04
    days on market $30,000 Active 29 DOM
13. 2026-06-02
    days on market $30,000 Active 28 DOM
14. 2026-06-01
    days on market $30,000 Active 27 DOM
15. 2026-05-31
    days on market $30,000 Active 26 DOM
16. 2026-05-31
    days on market $30,000 Active 25 DOM
17. 2026-05-04
    listed $30,000 Active
18. 2021-08-06
    historical
19. 2021-08-06
    historical
20. 2016-10-18
    soldstatus $5,400
21. 2016-10-18
    soldstatus $5,400
22. 2016-09-27
    listed $6,300
23. 2016-09-27
    listed $6,300
24. 2007-05-25
    soldstatus $33,000
25. 2003-03-14
    historical

ⓘ 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: $812 · $68/mo
• Projected year-2 tax: $812 · $68/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,418
• − Mortgage interest: −$1,680
• − Property taxes: −$812
• − Insurance: −$150
• − Repairs & maintenance: −$913
• − Management: −$913
• − Depreciation: −$873
• Taxable income: $6,076
• Est. tax owed @ 24.0%: −$1,458
• After-tax cash flow: $4,712/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: Mt Vernon Twp Hsd 201
• NCES district ID: 1727360
• Math proficiency: 13% ▼ -8.00%
• Reading proficiency: 16% ▼ -8.00%
• Median HH income: $38,188
• Composite: 12.22/100
• National rank: #9648
• State rank: #532 of 620 in IL

Livability — Mount Vernon

• Score: 69/100
• State rank: #413
• US rank: #8520

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mount Vernon, IL
• Population (ZIP): 23,061

Population outlook (Jefferson County) Hauer SSP2

• Today (2025): 36,818 people
• By 2030: 35,764 · -2.9%
• By 2040: 33,649 · -8.6%
• By 2050: 31,557 · -14.3%
• By 2075: 26,055 · -29.2%
• By 2100: 19,237 · -47.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Black 8% Two or more races 6% Hispanic / Latino 3% Asian 1%
• Common ancestry: Romanian 2% Slovak 2% Serbian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% Tagalog/Filipino 1%

Political lean MEDSL · Jefferson

• 2024 margin: Solid R (+47.8) · D 25.5% · R 73.3% · Other 1.3%
• 2008→2024 swing: -37.0pp toward R · 2008: -10.7pp · 2024: -47.8pp
• All cycles: 2024: R+47.8 2020: R+45.1 2016: R+43.2 2012: R+22.9 2008: R+10.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -83.64%
• Current HPI: 134.2669
• 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

-9.1% since first listed

9 events — show timeline

• 2026-05-04 Listed $30,000 MRED as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2016-10-18 Sold (MLS) $5,400 MRED as Distributed by MLS Grid
• 2016-10-18 Sold (MLS) $5,400 RMLSA as Distributed by MLS Grid
• 2016-09-27 Listed $6,300 MRED as Distributed by MLS Grid
• 2016-09-27 Listed $6,300 RMLSA as Distributed by MLS Grid
• 2007-05-25 Sold (Public Records) $33,000 Public Records
• 2003-03-14 Listing Removed — MRED as Distributed by MLS Grid

Property tax history

+7.0%/yr

Latest (2024): $812 · +7.5% YoY. Source: county tax records.