500 N Main St · Benton, IL 62812

$137,500

16 bd · 16.0 ba · 2,100 sqft · MultiFamily · 69 Days on market

Built 1921 Fair condition 0.31 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

4 plex with detached garage. All 4 units leased, also 2 of the 3 garage spaces leased. 2 units freshly remodeled.

Key facts

• 0.31 acre lot
• 4 parking spots
• Built 1921

Property features AI

Finance

• Other: Building area total reported as 2100 (unit of measure not displayed)
• Financial info: Unit rents reported: $450, $495, $395, $500
• HOA & community: No HOA information provided

Exterior

• Parking: Total of 4 parking spaces (each unit assigned 1 space, uncovered); No covered parking
• Security: No security details provided
• Utilities: Public water; Public sewer
• Home design: Residential income property; Quadruplex; Built in 1921
• Construction: Composition roof; Built in 1921
• Exterior features: Corner lot; Paved road access; Composition roof

Interior

• Kitchen: No specific kitchen appliance details provided
• Bedrooms: Four 1-bedroom units
• Flooring: No flooring details provided
• Bathrooms: Each unit has one full bathroom
• Heating & cooling: Electric heating; Gas water heater; Wall units; Window units
• Interior features: Unfinished basement; No in-unit laundry
• Laundry & utility: No laundry on site

What this means for you Summary

Snapshot

• This is a 4 × 1-bed/1-bath units multifamily listed at $138k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($18k/yr) — positive. Per door: $367/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $138k).
• Recommended offer: $129k (6.0% below list) — sets the bar for market timing.
• Cap rate 19.1% vs local median 5.3% in Benton — 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 63/100 on livability (#785 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 D-.
• BentonConsolidatedHsd 103 (town): math 20% / reading 20% proficiency, ranked #727 of 919 in IL (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Benton Cons High School (math 17% / reading 27%, grade F, #319 of 693 statewide, top 50%, 577 students, 0% FRL).
• Market conditions: 73 active listings in the ZIP; 17 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $951 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Franklin County population projected at -16% 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 $38k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($129k) is reasonable based on typical stale-listing flexibility.
• 5 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 $78k; list at $138k implies a 76% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1921 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $129,249 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1921 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.22% ✓
• Cap rate: 19.09%
• Cash-on-cash: 45.71%
• DSCR: 3.03
• GRM: 3.7

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: 42.9%
• Equity multiple: 2.85×
• Total profit: $71,160
• Equity at exit: $20,502

10-year hold

• IRR: 49.0%
• Equity multiple: 5.74×
• Total profit: $182,412
• Equity at exit: $11,888

Cash invested: $38,500 (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 62812

• Active inventory: 73
• Price-to-rent: 15.0×

Monthly cashflow live

• Estimated rent: $3,059 medium
• Mortgage (P&I): −$721
• Tax est. 1.5%: −$172 /mo · $2,062/yr
• Insurance: −$57
• HOA: −$0
• Vacancy / Maint / Mgmt: −$642
• Net cashflow: $1,466

Break-even live

Break-even rent $1,203

Max offer price $137,500

Occupancy floor 47%

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$3,060
Total (4 units)			$3,059

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: $34,375
• Closing costs: $4,125
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-18
   days on market $137,500 Active 69 DOM
2. 2026-06-17
   days on market $137,500 Active 68 DOM
3. 2026-06-16
   days on market $137,500 Active 67 DOM
4. 2026-06-15
   days on market $137,500 Active 66 DOM
5. 2026-06-13
   days on market $137,500 Active 64 DOM
6. 2026-06-12
   days on market $137,500 Active 63 DOM
7. 2026-06-09
   days on market $137,500 Active 60 DOM
8. 2026-06-08
   days on market $137,500 Active 59 DOM
9. 2026-06-07
   days on market $137,500 Active 58 DOM
10. 2026-06-07
    days on market $137,500 Active 57 DOM
11. 2026-06-04
    days on market $137,500 Active 54 DOM
12. 2026-06-02
    days on market $137,500 Active 53 DOM
13. 2026-06-01
    days on market $137,500 Active 52 DOM
14. 2026-05-31
    days on market $137,500 Active 51 DOM
15. 2026-05-31
    days on market $137,500 Active 50 DOM
16. 2026-04-10
    listed $139,900 Active
17. 2021-10-20
    soldstatus $78,000 113-char remark

    Show marketing remark (113 chars)

    4 plex with detached garage. All 4 units leased, also 2 of the 3 garage spaces leased. 2 units freshly remodeled.

18. 2021-10-20
    soldstatus $78,000 113-char remark

    Show marketing remark (113 chars)

    4 plex with detached garage. All 4 units leased, also 2 of the 3 garage spaces leased. 2 units freshly remodeled.

19. 2021-08-06
    historical
20. 2021-04-27
    listed $82,000 113-char remark

    Show marketing remark (113 chars)

    4 plex with detached garage. All 4 units leased, also 2 of the 3 garage spaces leased. 2 units freshly remodeled.

21. 2021-04-27
    listed $82,000 113-char remark

    Show marketing remark (113 chars)

    4 plex with detached garage. All 4 units leased, also 2 of the 3 garage spaces leased. 2 units freshly remodeled.

22. 2016-06-20
    soldstatus $50,000
23. 2016-06-20
    soldstatus $50,000
24. 2016-05-28
    listed $58,000
25. 2016-05-28
    listed $58,000
26. 2002-10-15
    historical

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $36,708
• − Mortgage interest: −$7,702
• − Property taxes: −$2,062
• − Insurance: −$688
• − Repairs & maintenance: −$2,937
• − Management: −$2,937
• − Depreciation: −$4,000
• Taxable income: $16,383
• Est. tax owed @ 24.0%: −$3,932
• After-tax cash flow: $13,665/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This 4-unit property requires moderate rehabilitation to improve its condition and increase its resale and rental value.

Repairs flagged

• Major roof — visible wear
• Major exterior siding — weathered condition
• Major landscaping — overgrown vegetation

Value-add opportunities

• Both paint exterior siding — enhances curb appeal and value
• Both replace roof — extends lifespan and improves appearance
• Both landscaping — enhances curb appeal and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · visible wear	Major	$15,000–50,000
exterior siding · weathered condition	Major	$15,000–50,000
landscaping · overgrown vegetation	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both paint exterior siding — enhances curb appeal and value ↑
• Both replace roof — extends lifespan and improves appearance ↑
• Both landscaping — enhances curb appeal and value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: BentonConsolidatedHsd 103
• NCES district ID: 1705970
• Math proficiency: 20% ▬ 0.00%
• Reading proficiency: 20% ▬ 0.00%
• Median HH income: $35,473
• Composite: 19.77/100
• National rank: #13902
• State rank: #727 of 919 in IL

Livability — Benton

• Score: 63/100
• State rank: #785
• US rank: #15667

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Benton, IL
• City population: 11,441
• Population (ZIP): 11,441

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 37,954 people
• By 2030: 36,828 · -3.0%
• By 2040: 34,452 · -9.2%
• By 2050: 31,855 · -16.1%
• By 2075: 25,171 · -33.7%
• By 2100: 18,462 · -51.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Slovak 2% Romanian 2% Lithuanian 1%
• Foreign-born: 1% · Vietnam, Canada
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 1% Vietnamese 1%

Political lean MEDSL · Franklin

• 2024 margin: Solid R (+50.6) · D 24.1% · R 74.6% · Other 1.3%
• 2008→2024 swing: -47.8pp toward R · 2008: -2.8pp · 2024: -50.6pp
• All cycles: 2024: R+50.6 2020: R+47.5 2016: R+45.3 2012: R+16.8 2008: R+2.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -87.17%
• Current HPI: 109.0501
• 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

+141.2% since first listed

11 events — show timeline

• 2026-04-10 Listed $139,900 RMLSA as Distributed by MLS Grid
• 2021-10-20 Sold (MLS) $78,000 RMLSA as Distributed by MLS Grid
• 2021-10-20 Sold (MLS) $78,000 MRED as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-04-27 Listed $82,000 RMLSA as Distributed by MLS Grid
• 2021-04-27 Listed $82,000 MRED as Distributed by MLS Grid
• 2016-06-20 Sold (MLS) $50,000 RMLSA as Distributed by MLS Grid
• 2016-06-20 Sold (MLS) $50,000 MRED as Distributed by MLS Grid
• 2016-05-28 Listed $58,000 RMLSA as Distributed by MLS Grid
• 2016-05-28 Listed $58,000 MRED as Distributed by MLS Grid
• 2002-10-15 Listing Removed — MRED as Distributed by MLS Grid