408 S Cherokee St · Taylorville, IL 62568

$59,900

2 bd · 2.0 ba · 870 sqft · SingleFamily public records · 74 Days on market

Built 1900 $69/sqft · 16% below area Est $71k · 16% under

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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 +29.2/30.0
• ARV discount +14.6/15.0
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This home has major potential! 2 bedroom, 1 bath home with full useable basement. Large eat in kitchen. Big front porch. 2 car detached garage. Large fenced in yard.

Key facts

• Large eat in kitchen
• Big front porch
• Large fenced in yard

Tags

• FULL USEABLE BASEMENT
• LARGE EAT IN KITCHEN
• BIG FRONT PORCH
• LARGE FENCED IN YARD

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $210 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($820 rent vs $60k).
• Recommended offer: $56k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.5% vs local median 4.1% in Taylorville — 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 68/100 on livability (#478 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: employment D, amenities F, commute F.
• Taylorville CUSD 3 (town): math 14% / reading 31% proficiency, ranked #383 of 620 in IL (top 62%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: North Elem School (537 students, 0% FRL); Taylorville Jr High School (math 14% / reading 42%, grade F, #284 of 665 statewide, top 44%, 683 students, 0% FRL); Taylorville Sr High School (math 12% / reading 17%, grade F, #479 of 693 statewide, top 71%, 781 students, 0% FRL) — zoned schools average 0% FRL vs 46% district-wide (46 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 87 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 26 units permitted in Christian County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $414 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Christian County population projected at -24% 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 $17k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 74 days — a 6% lower offer ($56k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $30k; list at $60k implies a 100% 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 $56,306 (6.0% below list)

Questions for the listing agent

1. It's been on market 74 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 1900 — 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. 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: 1.37% ✓
• Cap rate: 10.49%
• Cash-on-cash: 15.00%
• DSCR: 1.67
• GRM: 6.1

CMA / ARV

• ARV (median comp): $71,103
• List price: $59,900
• Delta: -15.76%
• Verdict: UNDERPRICED
• 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 S Cherokee St	0.00mi	2/1.0	870 (0%)	1mo	$55,000	$63	95
402 E Adams St	0.07mi	2/1.0	933 (+7%)	3mo	$86,000	$92	78
708 E Franklin St	0.16mi	2/1.0	912 (+5%)	5mo	$19,000	$21	76
411 E Main Cross St	0.25mi	2/1.0	858 (-1%)	10mo	$80,000	$93	74
308 E Park St	0.44mi	2/1.0	852 (-2%)	9mo	$98,500	$116	65
808 S Clay St	0.50mi	2/1.0	879 (+1%)	13mo	$80,000	$91	60
725 S Wyandotte St	0.23mi	2/1.0	780 (-10%)	10mo	$45,000	$58	60
710 E Adams St	0.14mi	2/1.0	768 (-12%)	15mo	$70,000	$91	58
1010 E Adams St	0.37mi	1/1.0 (-1)	924 (+6%)	7mo	$6,000	$6	57
1221 E Park	0.65mi	2/1.0	850 (-2%)	7mo	$6,900	$8	56
708 Franklin St	0.68mi	2/1.0	912 (+5%)	5mo	$19,000	$21	52
505 W 3rd St	0.60mi	2/1.0	832 (-4%)	10mo	$88,500	$106	52

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: 5.6%
• Equity multiple: 1.22×
• Total profit: $3,673
• Equity at exit: $8,931

10-year hold

• IRR: 15.1%
• Equity multiple: 2.22×
• Total profit: $20,503
• Equity at exit: $5,179

Cash invested: $16,772 (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 62568

• Active inventory: 87
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $820 medium
• Mortgage (P&I): −$314
• Tax from tax record: −$99 /mo · $1,189/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$172
• Net cashflow: $210

Break-even live

Break-even rent $555

Max offer price $59,900

Occupancy floor 69%

Sensitivity live

Price	-10% $244	-5% $227	+0% $210	+5% $193	+10% $176
Rent	-10% $145	-5% $177	+0% $210	+5% $242	+10% $274
Rate	-1.0pp $240	-0.5pp $225	base $210	+0.5pp $194	+1.0pp $178

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
913 N Taylorville Blvd Taylorville, IL	2.0	2.0	896	$820	$0.92	22d	1	1.34mi

Listing history 5 events

1. 2026-05-15
   historical Under Contract 168-char remark

   Show marketing remark (168 chars)

   This home has major potential! 2 bedroom, 1 bath home with full useable basement. Large eat in kitchen. Big front porch. 2 car detached garage. Large fenced in yard.

2. 2026-04-28
   price $59,900 168-char remark

   Show marketing remark (168 chars)

   This home has major potential! 2 bedroom, 1 bath home with full useable basement. Large eat in kitchen. Big front porch. 2 car detached garage. Large fenced in yard.

3. 2026-03-01
   listed $65,000 Active 168-char remark

   Show marketing remark (168 chars)

   This home has major potential! 2 bedroom, 1 bath home with full useable basement. Large eat in kitchen. Big front porch. 2 car detached garage. Large fenced in yard.

4. 2010-08-20
   soldstatus $30,000
5. 2005-03-18
   soldstatus $34,000

ⓘ 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: $1,189 · $99/mo
• Projected year-2 tax: $1,274 · $106/mo
• Expected delta: +$85/yr (+$7/mo · 7.2%)

ⓘ 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 2/10 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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,840
• − Mortgage interest: −$3,355
• − Property taxes: −$1,189
• − Insurance: −$300
• − Repairs & maintenance: −$787
• − Management: −$787
• − Depreciation: −$1,743
• Taxable income: $1,679
• Est. tax owed @ 24.0%: −$403
• After-tax cash flow: $2,113/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: Taylorville CUSD 3
• NCES district ID: 1738700
• Math proficiency: 14% ▼ -17.00%
• Reading proficiency: 31% ▼ -10.00%
• Median HH income: $45,940
• Composite: 19.53/100
• National rank: #8764
• State rank: #383 of 620 in IL

Livability — Taylorville

• Score: 68/100
• State rank: #478
• US rank: #9895

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Taylorville, IL
• City population: 16,035
• Population (ZIP): 16,035

Population outlook (Christian County) Hauer SSP2

• Today (2025): 31,182 people
• By 2030: 29,787 · -4.5%
• By 2040: 26,793 · -14.1%
• By 2050: 23,757 · -23.8%
• By 2075: 17,333 · -44.4%
• By 2100: 11,573 · -62.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Black 4% Two or more races 2% Hispanic / Latino 2% Asian 1%
• Common ancestry: Lithuanian 2% Slovak 2% Romanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Christian

• 2024 margin: Solid R (+46.7) · D 25.9% · R 72.6% · Other 1.5%
• 2008→2024 swing: -40.4pp toward R · 2008: -6.3pp · 2024: -46.7pp
• All cycles: 2024: R+46.7 2020: R+44.6 2016: R+42.7 2012: R+23.1 2008: R+6.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -171.77%
• Current HPI: 159.2588
• 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

+76.2% since first listed

5 events — show timeline

• 2026-05-15 Contingent — RMLSA as Distributed by MLS Grid
• 2026-04-28 Price Changed $59,900 RMLSA as Distributed by MLS Grid
• 2026-03-01 Listed $65,000 RMLSA as Distributed by MLS Grid
• 2010-08-20 Sold (Public Records) $30,000 Public Records
• 2005-03-18 Sold (Public Records) $34,000 Public Records

Property tax history

+0.5%/yr

Latest (2024): $1,189 · +9.5% YoY. Source: county tax records.