140 S 4th St · Albion, IL 62806

$85,500

3 bd · 1.5 ba · 1,400 sqft · Other · 14 Days on market

Built 1960 0.26 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 +28.3/30.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• ARV discount +7.5/15.0
• Appreciation +6.5/10.0
• Livability +3.4/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Value-add opportunity in the heart of Albion! Welcome to 140 S 4th St, a 3-bedroom, 1 and a half bath home with additional potential and plenty of character. Built in 1960, this property is ideal for an owner-occupant looking to build equity through updates or an investor seeking a home with strong upside after renovation. The main floor features two bedrooms, one full bathroom, a spacious living/dining area, and an eat-in kitchen with generous cabinet storage. The home offers charming architectural details throughout, including hardwood floors, wood trim, arched openings, built-ins, unique ceiling lines, and warm second-floor wood paneling that gives the property character you do not often

Key facts

• Wood trim
• Arched openings
• Eat-in kitchen

Tags

• SPACIOUS LIVING DINING AREA
• EAT-IN KITCHEN
• GENEROUS CABINET STORAGE
• HARDWOOD FLOORS
• WOOD TRIM
• ARCHED OPENINGS

Property features AI

Finance

• Other: Property not currently leased; Possession at closing
• HOA & community: No master association fee required

Exterior

• Parking: Detached garage (garage owned); Concrete drive/parking; 2 total parking spaces (2 garage spaces)
• Utilities: Public water; Public sewer; Natural gas available
• Home design: Detached single-family home; 1.5-story; Fee simple ownership; Built before 1978
• Construction: Vinyl siding; Asphalt roof; Block foundation; Estimated living area; house age approximately 61–70 years
• Exterior features: Corner lot; Lot dimensions approximately 66.4 x 86 x 144.5 x 35.5 x 98.7

Interior

• Kitchen: Kitchen on main level (approx. 12 x 12); Eating area on main level (approx. 8 x 8)
• Bedrooms: 3 bedrooms (Master Bedroom on main level; other bedrooms on main and second levels)
• Flooring: Hardwood flooring in living room
• Bathrooms: 1 full bathroom; 1 half bathroom; Basement has a bathroom
• Heating & cooling: Natural gas heating
• Interior features: 8 total rooms; Unfinished attic; Unfinished full basement
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath other listed at $86k.

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 $86k).

Location & tenants

• Location reads 67/100 on livability (#534 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Edwards County CUSD 1 (rural): math 30% / reading 45% proficiency, ranked #171 of 620 in IL (top 28%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Albion Grade School (math 31% / reading 53%, grade F, #336 of 2,056 statewide, top 18%, 409 students, 0% FRL); Edwards County High School (math 27% / reading 32%, grade F, #187 of 693 statewide, top 30%, 262 students, 0% FRL) — zoned schools average 0% FRL vs 33% district-wide (33 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 3 active listings in the ZIP.

Forward outlook

• In year one you build about $3k of equity ($591 loan paydown + $2k appreciation (2.9% local appreciation)).
• Edwards County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.9% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $35k; list at $86k implies a 144% gain — meaningful room to come down on a strong offer.

Recommended offer $85,500

Questions for the listing agent

1. Built in 1960 — 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: 1.29% ✓
• Cap rate: 10.16%
• Cash-on-cash: 13.80%
• DSCR: 1.61
• GRM: 6.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.92% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.3%
• Equity multiple: 2.15×
• Total profit: $27,509
• Equity at exit: $38,075

10-year hold

• IRR: 21.5%
• Equity multiple: 4.08×
• Total profit: $73,830
• Equity at exit: $58,393

Cash invested: $23,940 (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 62806

• Home prices YoY: 2.6%
• Active inventory: 3
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,107 medium
• Mortgage (P&I): −$448
• Tax from tax record: −$115 /mo · $1,382/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$232
• Net cashflow: $275

Break-even live

Break-even rent $758

Max offer price $85,500

Occupancy floor 70%

Sensitivity live

Price	-10% $324	-5% $300	+0% $275	+5% $251	+10% $227
Rent	-10% $188	-5% $232	+0% $275	+5% $319	+10% $363
Rate	-1.0pp $318	-0.5pp $297	base $275	+0.5pp $253	+1.0pp $231

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: $21,375
• Closing costs: $2,565
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-21
   days on market $85,500 Active 14 DOM
2. 2026-06-21
   days on market $85,500 Active 13 DOM
3. 2026-06-18
   days on market $85,500 Active 11 DOM
4. 2026-06-17
   days on market $85,500 Active 10 DOM
5. 2026-06-16
   days on market $85,500 Active 9 DOM
6. 2026-06-15
   days on market $85,500 Active 8 DOM
7. 2026-06-13
   days on market $85,500 Active 6 DOM
8. 2026-06-12
   days on market $85,500 Active 5 DOM
9. 2026-06-09
   days on market $85,500 Active 2 DOM
10. 2026-06-08
    remarks 699-char remark
11. 2026-06-08
    listed $85,500 Active 1 DOM

ⓘ 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: $1,382 · $115/mo
• Projected year-2 tax: $1,661 · $138/mo
• Expected delta: +$279/yr (+$23/mo · 20.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $13,283
• − Mortgage interest: −$4,789
• − Property taxes: −$1,382
• − Insurance: −$428
• − Repairs & maintenance: −$1,063
• − Management: −$1,063
• − Depreciation: −$2,487
• Taxable income: $2,072
• Est. tax owed @ 24.0%: −$497
• After-tax cash flow: $2,806/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: Edwards County CUSD 1
• NCES district ID: 1713500
• Math proficiency: 30% ▬ 0.00%
• Reading proficiency: 45% ▼ -4.00%
• Median HH income: $44,218
• Composite: 31.81/100
• National rank: #5881
• State rank: #171 of 620 in IL

Livability — Albion

• Score: 67/100
• State rank: #534
• US rank: #11082

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Albion, IL
• Population (ZIP): 3,438

Population outlook (Edwards County) Hauer SSP2

• Today (2025): 5,985 people
• By 2030: 5,661 · -5.4%
• By 2040: 5,008 · -16.3%
• By 2050: 4,411 · -26.3%
• By 2075: 3,269 · -45.4%
• By 2100: 2,423 · -59.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Slovak 2% Iranian 1% Italian 1%
• Foreign-born: 1% · Canada, Vietnam
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Edwards

• 2024 margin: Solid R (+71.1) · D 13.9% · R 85.0% · Other 1.1%
• 2008→2024 swing: -41.3pp toward R · 2008: -29.8pp · 2024: -71.1pp
• All cycles: 2024: R+71.1 2020: R+69.6 2016: R+70.8 2012: R+51.1 2008: R+29.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.92%
• Current HPI: 115.695
• 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

+144.3% since first listed

2 events — show timeline

• 2026-06-07 Listed $85,500 MRED as Distributed by MLS Grid
• 1999-06-04 Sold (Public Records) $35,000 Public Records

Property tax history

+5.6%/yr

Latest (2024): $1,382 · +11.9% YoY. Source: county tax records.