500 Hickory St · Edgewood, IL 62426

$65,000

1 bd · 1.0 ba · 908 sqft · Other public records · 78 Days on market

Built 1943 0.34 ac lot $72/sqft · 7% below area Est $70k · 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 +27.6/30.0
• ARV discount +10.7/15.0
• DSCR +9.7/10.0
• 1% rule +8.2/10.0
• Appreciation +8.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0

Listing remarks MLS

Favorable 908 sq ft. Ranch home with 2 bedrooms, 1 bathroom, and a full unfinished basement. This house boasts hardwood floors, neutral colors, good sized rooms, and an updated bathroom. Outside features a corner lot, sitting on . 34 acres, nice covered front porch, and a single car detached garage. Other updates include ceiling fans, kitchen counter sink, backsplash, smart thermostat, and refinished kitchen cabinets.

Key facts

• Covered front porch
• Updated kitchen
• Hardwood floors

Tags

• HARDWOOD FLOORS
• UPDATED BATHROOM
• UPDATED KITCHEN
• CORNER LOT
• COVERED FRONT PORCH

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath other listed at $65k.

Deal economics

• At list price, monthly cash flow is $195 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($858 rent vs $65k).
• Recommended offer: $61k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#941 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing B+; Watch: schools F, crime F, amenities F.
• Effingham CUSD 40 (town): math 18% / reading 26% proficiency, ranked #387 of 620 in IL (top 62%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 3 active listings in the ZIP; 27 units permitted in Effingham County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($449 loan paydown + $4k appreciation (6.0% local appreciation)).
• Effingham County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $45k; 44% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1943 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $61,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 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 1943 — 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. Crime grade is F 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?
7. 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.
8. 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.
9. 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: 1.32% ✓
• Cap rate: 9.89%
• Cash-on-cash: 12.83%
• DSCR: 1.57
• GRM: 6.3

CMA / ARV

• ARV (median comp): $69,928
• List price: $65,000
• Delta: -7.05%
• Verdict: FAIR
• Comps: 5 within 1.0 mi

Projected returns pro-forma

5.99% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 26.0%
• Equity multiple: 2.71×
• Total profit: $31,147
• Equity at exit: $40,812

10-year hold

• IRR: 24.5%
• Equity multiple: 5.51×
• Total profit: $81,992
• Equity at exit: $73,967

Cash invested: $18,200 (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 62426

• Home prices YoY: 5.1%
• Active inventory: 3
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $858 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$115 /mo · $1,385/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$180
• Net cashflow: $195

Break-even live

Break-even rent $612

Max offer price $65,000

Occupancy floor 72%

Sensitivity live

Price	-10% $231	-5% $213	+0% $195	+5% $176	+10% $158
Rent	-10% $127	-5% $161	+0% $195	+5% $228	+10% $262
Rate	-1.0pp $227	-0.5pp $211	base $195	+0.5pp $178	+1.0pp $161

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $65,000 Active 78 DOM
2. 2026-06-18
   days on market $65,000 Active 76 DOM
3. 2026-06-17
   days on market $65,000 Active 75 DOM
4. 2026-06-16
   days on market $65,000 Active 74 DOM
5. 2026-06-15
   days on market $65,000 Active 73 DOM
6. 2026-06-13
   days on market $65,000 Active 71 DOM
7. 2026-06-12
   days on market $65,000 Active 70 DOM
8. 2026-06-09
   days on market $65,000 Active 67 DOM
9. 2026-06-08
   days on market $65,000 Active 66 DOM
10. 2026-06-07
    days on market $65,000 Active 65 DOM
11. 2026-06-07
    days on market $65,000 Active 64 DOM
12. 2026-06-04
    days on market $65,000 Active 61 DOM
13. 2026-06-02
    days on market $65,000 Active 60 DOM
14. 2026-06-01
    days on market $65,000 Active 59 DOM
15. 2026-05-31
    days on market $65,000 Active 58 DOM
16. 2026-05-31
    days on market $65,000 Active 57 DOM
17. 2026-04-29
    price $70,000 421-char remark

    Show marketing remark (421 chars)

    Favorable 908 sq ft. Ranch home with 2 bedrooms, 1 bathroom, and a full unfinished basement. This house boasts hardwood floors, neutral colors, good sized rooms, and an updated bathroom. Outside features a corner lot, sitting on . 34 acres, nice covered front porch, and a single car detached garage. Other updates include ceiling fans, kitchen counter sink, backsplash, smart thermostat, and refinished kitchen cabinets.

18. 2026-04-01
    listed $80,000 Active 421-char remark

    Show marketing remark (421 chars)

    Favorable 908 sq ft. Ranch home with 2 bedrooms, 1 bathroom, and a full unfinished basement. This house boasts hardwood floors, neutral colors, good sized rooms, and an updated bathroom. Outside features a corner lot, sitting on . 34 acres, nice covered front porch, and a single car detached garage. Other updates include ceiling fans, kitchen counter sink, backsplash, smart thermostat, and refinished kitchen cabinets.

19. 2019-11-25
    soldstatus $45,000
20. 2019-11-12
    soldstatus $45,000
21. 2016-03-10
    soldstatus $23,000
22. 2007-05-30
    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: $1,385 · $115/mo
• Projected year-2 tax: $1,430 · $119/mo
• Expected delta: +$45/yr (+$4/mo · 3.3%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥105°F today · 21 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: $10,298
• − Mortgage interest: −$3,641
• − Property taxes: −$1,385
• − Insurance: −$325
• − Repairs & maintenance: −$824
• − Management: −$824
• − Depreciation: −$1,891
• Taxable income: $1,408
• Est. tax owed @ 24.0%: −$338
• After-tax cash flow: $1,997/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: Effingham CUSD 40
• NCES district ID: 1713560
• Math proficiency: 18% ▼ -5.00%
• Reading proficiency: 26% ▼ -6.00%
• Median HH income: $48,021
• Composite: 19.35/100
• National rank: #8789
• State rank: #387 of 620 in IL

Livability — Edgewood

• Score: 61/100
• State rank: #941
• US rank: #18297

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Edgewood, IL
• Population (ZIP): 769

Population outlook (Effingham County) Hauer SSP2

• Today (2025): 34,179 people
• By 2030: 33,648 · -1.6%
• By 2040: 32,066 · -6.2%
• By 2050: 29,813 · -12.8%
• By 2075: 24,101 · -29.5%
• By 2100: 17,174 · -49.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 14% Hispanic / Latino 2%
• Common ancestry: Lithuanian 3% Romanian 3% Iranian 1%

Political lean MEDSL · Effingham

• 2024 margin: Solid R (+60.4) · D 19.0% · R 79.3% · Other 1.7%
• 2008→2024 swing: -24.4pp toward R · 2008: -36.0pp · 2024: -60.4pp
• All cycles: 2024: R+60.4 2020: R+59.2 2016: R+60.5 2012: R+52.0 2008: R+36.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.99%
• Current HPI: 123.2134
• 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

+204.3% since first listed

6 events — show timeline

• 2026-04-29 Price Changed $70,000 CIBR
• 2026-04-01 Listed $80,000 CIBR
• 2019-11-25 Sold (Public Records) $45,000 Public Records
• 2019-11-12 Sold (Public Records) $45,000 Public Records
• 2016-03-10 Sold (Public Records) $23,000 Public Records
• 2007-05-30 Listing Removed — MRED as Distributed by MLS Grid

Property tax history

+6.6%/yr

Latest (2024): $1,385 · +8.0% YoY. Source: county tax records.