823 N 10th St · Mount Vernon, IL 62864

$92,000

3 bd · 1.0 ba · 1,216 sqft · SingleFamily · 8 Days on market

Built 1900 0.94 ac lot Est $123k · 25% 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• 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

Charming and move-in ready, this adorable 3-bedroom, 1-bath home is tucked away in a north side location surrounded by mature trees and natural beauty. Inside, you'll find an updated kitchen and bath that blend modern convenience with the home's inviting character. Enjoy your morning coffee or unwind in the cozy rear sun porch overlooking the peaceful backyard. The property also features an outbuilding-perfect for storage, hobbies, or a workshop-and an additional wooded lot, offering extra privacy, space to explore, or future potential. With great curb appeal, thoughtful updates, and a serene setting, this home is the perfect blend of comfort and charm. Don't miss this unique opportunity!

Key facts

• Outbuilding
• Updated bath
• Wooded lot

Tags

• UPDATED KITCHEN
• UPDATED BATH
• REAR SUN PORCH
• PEACEFUL BACKYARD
• OUTBUILDING
• WOODED LOT

Property features AI

Finance

• Other: Parcel numbers on file
• HOA & community: No master association fee required

Exterior

• Parking: 4 parking spaces; Asphalt parking surface
• Utilities: Public water; Public sewer; 100 amp electric service
• Home design: Detached single-family home; 1.5-story design; Fee simple ownership; Estimated living area; Built over 100 years ago; Not rebuilt or rehabbed; Facing/directions: From Broadway in Mt Vernon to N 10th St, north to home on West
• Construction: Asphalt roof; Block foundation; Other construction materials; Built before 1978
• Exterior features: Fire pit; Wooded lot; Water view

Interior

• Kitchen: Range; Refrigerator; Vinyl flooring in kitchen
• Bedrooms: 3 bedrooms (Master on main level; additional bedrooms on main and second levels)
• Flooring: Carpet in living room, dining room and multiple bedrooms; Vinyl in kitchen
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: 6 total rooms; Crawl space basement
• Laundry & utility: Main-level laundry (5 x 8)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $92k.

Deal economics

• At list price, monthly cash flow is $417 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $92k).
• Cap rate 11.7% 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: amenities F, commute F, employment 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.
• Zoned schools: Dr Nick Osborne Primary Center (math 8% / reading 12%, grade F, #1,517 of 2,056 statewide, top 78%, 600 students, 0% FRL); Zadok Casey Middle School (math 6% / reading 10%, grade F, #608 of 665 statewide, top 92%, 419 students, 0% FRL); Mount Vernon High School (math 13% / reading 16%, grade F, #479 of 693 statewide, top 71%, 1,210 students, 0% FRL).
• Market conditions: 193 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 $636 of loan paydown is wiped out by about $3k 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 $26k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $48k; list at $92k implies a 92% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $92,000

Questions for the listing agent

1. Built in 1900 — 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: 1.35% ✓
• Cap rate: 11.73%
• Cash-on-cash: 19.41%
• DSCR: 1.86
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $122,816
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
823 N 10th St	0.00mi	3/1.0	1,216 (0%)	0mo	$90,500	$74	100
1126 Oakland Ave	0.21mi	3/1.0	1,296 (+7%)	2mo	$135,000	$104	78
507 N 12th St	0.42mi	3/1.0	1,140 (-6%)	1mo	$115,000	$101	70
1901 E Richview Rd	0.61mi	3/1.0	1,228 (+1%)	1mo	$90,000	$73	69
817 N 6th St	0.36mi	3/1.5	1,288 (+6%)	4mo	$85,000	$66	68
400 N 8th St	0.40mi	2/1.0 (-1)	1,156 (-5%)	0mo	$89,900	$78	68
625 N 12th St	0.42mi	3/2.0	1,300 (+7%)	2mo	$119,900	$92	64
1003 Warren Ave	0.22mi	2/1.0 (-1)	1,056 (-13%)	3mo	$123,000	$116	60
719 Harrison	0.56mi	3/1.0	1,132 (-7%)	9mo	$92,500	$82	55
702 Magnolia Ave	0.69mi	3/1.0	1,248 (+3%)	11mo	$165,000	$132	54
1717 Isabella Ave	0.51mi	2/2.0 (-1)	1,176 (-3%)	10mo	$141,500	$120	54
17 Highland Pl	0.68mi	2/1.0 (-1)	1,052 (-14%)	5mo	$124,000	$118	36

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: 11.4%
• Equity multiple: 1.45×
• Total profit: $11,607
• Equity at exit: $13,717

10-year hold

• IRR: 20.4%
• Equity multiple: 2.72×
• Total profit: $44,180
• Equity at exit: $7,954

Cash invested: $25,760 (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: 193
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,242 medium
• Mortgage (P&I): −$482
• Tax from tax record: −$44 /mo · $523/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$261
• Net cashflow: $417

Break-even live

Break-even rent $714

Max offer price $92,000

Occupancy floor 61%

Sensitivity live

Price	-10% $469	-5% $443	+0% $417	+5% $391	+10% $365
Rent	-10% $319	-5% $368	+0% $417	+5% $466	+10% $515
Rate	-1.0pp $463	-0.5pp $440	base $417	+0.5pp $393	+1.0pp $369

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: $23,000
• Closing costs: $2,760
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-08
   status Pending
2. 2006-11-13
   soldstatus $48,000
3. 2006-11-09
   soldstatus $45,900
4. 2006-08-09
   listed $45,900

ⓘ 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: $523 · $44/mo
• Projected year-2 tax: $1,306 · $109/mo
• Expected delta: +$782/yr (+$65/mo · 149.5%)

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

Taxation est. · year 1

• Rental income: $14,903
• − Mortgage interest: −$5,153
• − Property taxes: −$523
• − Insurance: −$460
• − Repairs & maintenance: −$1,192
• − Management: −$1,192
• − Depreciation: −$2,676
• Taxable income: $3,705
• Est. tax owed @ 24.0%: −$889
• After-tax cash flow: $4,111/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

• 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

+4.6% since first listed

4 events — show timeline

• 2026-05-08 Pending — MRED as Distributed by MLS Grid
• 2006-11-13 Sold (Public Records) $48,000 Public Records
• 2006-11-09 Sold (MLS) $45,900 RMLSA as Distributed by MLS Grid
• 2006-08-09 Listed $45,900 RMLSA as Distributed by MLS Grid

Property tax history

-0.9%/yr

Latest (2024): $523 · +19.4% YoY. Source: county tax records.