1521 Cherry St · Quincy, IL 62301

$115,000

3 bd · 1.0 ba · 936 sqft · SingleFamily

7,560 sqft lot Est $124k · 7% 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 +30.0/30.0
• ARV discount +10.6/15.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• Rent growth +5.0/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Well maintained one story home with 2 car garage. It has replacement windows, recent HVAC, and roof 10 years ago.

Key facts

• 7,560 sq ft lot
• 2 garage spots

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $450 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Cap rate 11.0% vs local median 4.3% in Quincy — 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 67/100 on livability (#506 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D, employment D, amenities D-.
• Quincy SD 172 (town): math 24% / reading 27% proficiency, ranked #328 of 620 in IL (top 53%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Quincy Sr High School (math 21% / reading 28%, grade F, #256 of 693 statewide, top 44%, 1,924 students, 0% FRL) — zoned schools average 0% FRL vs 48% district-wide (48 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+10.8%/yr); 180 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 68 units permitted in Adams County in 2024 (0 in 5+ unit buildings).
• This rent runs 35% of the median local income ($52k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Adams 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 + 8.0% rent growth), your $32k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $115,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
3. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.33% ✓
• Cap rate: 10.99%
• Cash-on-cash: 16.77%
• DSCR: 1.75
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $123,552
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1633 Spruce St	0.20mi	2/1.0 (-1)	902 (-4%)	3mo	$137,000	$152	77
903 N 12th St	0.35mi	2/1.0 (-1)	952 (+2%)	1mo	$65,000	$68	75
1620 Chestnut St	0.15mi	2/1.0 (-1)	1,000 (+7%)	3mo	$137,000	$137	74
1620 Cedar St	0.10mi	3/1.0	1,050 (+12%)	4mo	$139,000	$132	72
1407 Cherry St	0.10mi	2/1.0 (-1)	858 (-8%)	9mo	$110,000	$128	69
1821 Maple St	0.44mi	2/2.0 (-1)	932 (-0%)	8mo	$145,000	$156	63
1821 Maple St	0.44mi	2/2.0 (-1)	932 (-0%)	8mo	$145,000	$156	63
1424 N 20th St	0.48mi	2/1.0 (-1)	975 (+4%)	6mo	$129,000	$132	61
824 N 12th St	0.34mi	3/1.0	1,064 (+14%)	7mo	$62,000	$58	55
2066 Oak St	0.68mi	2/1.5 (-1)	900 (-4%)	1mo	$131,500	$146	54
2266 Chestnut St	0.69mi	2/1.0 (-1)	983 (+5%)	1mo	$91,000	$93	54
629 Cherry St	0.73mi	2/1.0 (-1)	1,001 (+7%)	10mo	$48,000	$48	41

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 13.3%
• Equity multiple: 1.56×
• Total profit: $18,117
• Equity at exit: $17,147

10-year hold

• IRR: 25.7%
• Equity multiple: 3.78×
• Total profit: $89,505
• Equity at exit: $9,943

Cash invested: $32,200 (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 62301

• Rents YoY: 10.8%
• Active inventory: 180
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,531 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$108 /mo · $1,299/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$321
• Net cashflow: $450

Break-even live

Break-even rent $961

Max offer price $115,000

Occupancy floor 66%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
115 N 8th St Unit 1/2-5 Quincy, IL	2.0	1.0	750	$475	$0.63	43d	1	1.04mi
116 N 3rd St Quincy, IL	1.0–4.0	1.0–2.0	1950	$4,333	$2.22	43d	12	1.34mi
133 S 4th St Apt 206 Quincy, IL	2.0	1.0	620	$1,450	$2.34	43d	1	1.34mi

Listing history 2 events

1. 2026-04-25
   listed $115,000
2. 2026-04-25
   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: $1,299 · $108/mo
• Projected year-2 tax: $1,955 · $163/mo
• Expected delta: +$656/yr (+$55/mo · 50.5%)

ⓘ 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 ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,369
• − Mortgage interest: −$6,442
• − Property taxes: −$1,299
• − Insurance: −$575
• − Repairs & maintenance: −$1,469
• − Management: −$1,469
• − Depreciation: −$3,345
• Taxable income: $3,768
• Est. tax owed @ 24.0%: −$904
• After-tax cash flow: $4,496/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: Quincy SD 172
• NCES district ID: 1733000
• Math proficiency: 24% ▬ 0.00%
• Reading proficiency: 27% ▬ 0.00%
• Median HH income: $44,132
• Composite: 21.91/100
• National rank: #8229
• State rank: #328 of 620 in IL

Livability — Quincy

• Score: 67/100
• State rank: #506
• US rank: #10458

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Quincy, IL
• County: Adams County · 30,746 people
• City population: 30,746
• Metro: Quincy, IL-MO
• Population (ZIP): 30,746
• Household income: $52,055
• Rent vs Own: 41.1% rent · 58.9% own
• Severe rent burden: 1238.0

Population outlook (Adams County) Hauer SSP2

• Today (2025): 65,795 people
• By 2030: 64,436 · -2.1%
• By 2040: 61,007 · -7.3%
• By 2050: 56,851 · -13.6%
• By 2075: 46,424 · -29.4%
• By 2100: 34,305 · -47.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 7% Black 6% Hispanic / Latino 3% Asian 1%
• Common ancestry: Slovak 2% Iranian 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Adams

• 2024 margin: Solid R (+47.4) · D 25.6% · R 73.0% · Other 1.5%
• 2008→2024 swing: -25.0pp toward R · 2008: -22.4pp · 2024: -47.4pp
• All cycles: 2024: R+47.4 2020: R+46.5 2016: R+47.5 2012: R+35.2 2008: R+22.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -121.44%
• Current HPI: 131.7344
• Rent YoY: ▲ 10.78%
• Metro: Quincy, IL-MO
• 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

2 events — show timeline

• 2026-04-25 Listing Removed — RMLSA as Distributed by MLS Grid
• 2026-04-25 Listed $115,000 RMLSA as Distributed by MLS Grid

Property tax history

+10.1%/yr

Latest (2023): $1,299 · +10.1% YoY. Source: county tax records.