532 State Route 146 · Golconda, IL 62938

$69,900

2 bd · 1.0 ba · 1,050 sqft · SingleFamily · 148 Days on market

Built 1940 1.93 ac lot $67/sqft · 62% below area ↓ 7% since listing

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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
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• ARV discount +7.5/15.0
• Appreciation +6.6/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0

Listing remarks MLS

Look at this cute home on 1.93 acres m/l in Hardin County IL. Close to the Ohio River. This 2 bed, 1 bath home is ready for a new owner. Newer LVP flooring in the kitchen, walk-in pantry for plenty of storage and spacious laundry room, Large living room perfect for gatherings and Plenty of outdoor space in the yard for entertaining or just enjoying nature. 26x 38 outbuilding with wood burner makes for a perfect hobby shop, workshop or toy storage. Newer Aerator septic system. Come take a look!

Key facts

• Ohio river
• 1.93 acres
• Lvp flooring

Tags

• 1.93 ACRES
• OHIO RIVER
• LVP FLOORING
• WALK-IN PANTRY
• SPACIOUS LAUNDRY ROOM
• OUTDOOR SPACE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $283 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($918 rent vs $70k).
• Recommended offer: $62k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#920 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: schools F, amenities F, commute F.
• Hardin County CUSD 1 (rural): math 7% / reading 17% proficiency, ranked #564 of 620 in IL (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 12 active listings in the ZIP.

Forward outlook

• In year one you build about $3k of equity ($483 loan paydown + $2k appreciation (3.2% local appreciation)).
• Hardin County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.2% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 148 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $5k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $61,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 148 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — 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: 1.31% ✓
• Cap rate: 11.15%
• Cash-on-cash: 17.35%
• DSCR: 1.77
• GRM: 6.3

CMA / ARV

• ARV (median comp): $184,267
• List price: $69,900
• Delta: -62.07%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

3.2% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.2%
• Equity multiple: 2.39×
• Total profit: $27,174
• Equity at exit: $32,224

10-year hold

• IRR: 24.9%
• Equity multiple: 4.61×
• Total profit: $70,562
• Equity at exit: $50,288

Cash invested: $19,572 (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 62938

• Home prices YoY: 4.2%
• Active inventory: 12
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $918 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$46 /mo · $558/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$193
• Net cashflow: $283

Break-even live

Break-even rent $560

Max offer price $69,900

Occupancy floor 64%

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $69,900 Under Contract 148 DOM
2. 2026-06-17
   days on market $69,900 Under Contract 147 DOM
3. 2026-06-16
   days on market $69,900 Under Contract 146 DOM
4. 2026-06-15
   days on market $69,900 Under Contract 145 DOM
5. 2026-06-13
   days on market $69,900 Under Contract 143 DOM
6. 2026-06-12
   days on market $69,900 Under Contract 142 DOM
7. 2026-06-09
   days on market $69,900 Under Contract 139 DOM
8. 2026-06-08
   days on market $69,900 Under Contract 138 DOM
9. 2026-06-07
   days on market $69,900 Under Contract 137 DOM
10. 2026-06-05
    days on market $69,900 Under Contract 135 DOM
11. 2026-06-04
    days on market $69,900 Under Contract 133 DOM
12. 2026-06-02
    days on market $69,900 Under Contract 132 DOM
13. 2026-06-01
    days on market $69,900 Under Contract 131 DOM
14. 2026-05-31
    days on market $69,900 Under Contract 130 DOM
15. 2026-05-31
    days on market $69,900 Under Contract 129 DOM
16. 2026-04-30
    price $69,900 498-char remark

    Show marketing remark (498 chars)

    Look at this cute home on 1.93 acres m/l in Hardin County IL. Close to the Ohio River. This 2 bed, 1 bath home is ready for a new owner. Newer LVP flooring in the kitchen, walk-in pantry for plenty of storage and spacious laundry room, Large living room perfect for gatherings and Plenty of outdoor space in the yard for entertaining or just enjoying nature. 26x 38 outbuilding with wood burner makes for a perfect hobby shop, workshop or toy storage. Newer Aerator septic system. Come take a look!

17. 2026-01-28
    historical
18. 2026-01-20
    status Active
19. 2026-01-14
    historical
20. 2026-01-06
    historical
21. 2025-10-23
    price
22. 2025-07-08
    listed $74,900 Active 498-char remark

    Show marketing remark (498 chars)

    Look at this cute home on 1.93 acres m/l in Hardin County IL. Close to the Ohio River. This 2 bed, 1 bath home is ready for a new owner. Newer LVP flooring in the kitchen, walk-in pantry for plenty of storage and spacious laundry room, Large living room perfect for gatherings and Plenty of outdoor space in the yard for entertaining or just enjoying nature. 26x 38 outbuilding with wood burner makes for a perfect hobby shop, workshop or toy storage. Newer Aerator septic system. Come take a look!

23. 2025-07-08
    listed Active

    Show marketing remark (498 chars)

    Look at this cute home on 1.93 acres m/l in Hardin County IL. Close to the Ohio River. This 2 bed, 1 bath home is ready for a new owner. Newer LVP flooring in the kitchen, walk-in pantry for plenty of storage and spacious laundry room, Large living room perfect for gatherings and Plenty of outdoor space in the yard for entertaining or just enjoying nature. 26x 38 outbuilding with wood burner makes for a perfect hobby shop, workshop or toy storage. Newer Aerator septic system. Come take a look!

ⓘ 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: $558 · $46/mo
• Projected year-2 tax: $1,072 · $89/mo
• Expected delta: +$515/yr (+$43/mo · 92.3%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥106°F today · 20 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,014
• − Mortgage interest: −$3,915
• − Property taxes: −$558
• − Insurance: −$350
• − Repairs & maintenance: −$881
• − Management: −$881
• − Depreciation: −$2,033
• Taxable income: $2,395
• Est. tax owed @ 24.0%: −$575
• After-tax cash flow: $2,820/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: Hardin County CUSD 1
• NCES district ID: 1718200
• Math proficiency: 7% ▼ -6.00%
• Reading proficiency: 17% ▼ -6.00%
• Median HH income: $37,617
• Composite: 10.06/100
• National rank: #9807
• State rank: #564 of 620 in IL

Livability — Golconda

• Score: 61/100
• State rank: #920
• US rank: #17824

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,659

Population outlook (Hardin County) Hauer SSP2

• Today (2025): 3,760 people
• By 2030: 3,548 · -5.6%
• By 2040: 3,134 · -16.6%
• By 2050: 2,786 · -25.9%
• By 2075: 2,118 · -43.7%
• By 2100: 1,578 · -58.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Black 7% Hispanic / Latino 3% Two or more races 3% Native American 3%
• Common ancestry: Lithuanian 3% Portuguese 2% Iranian 2%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Hardin

• 2024 margin: Solid R (+61.8) · D 18.6% · R 80.3% · Other 1.1%
• 2008→2024 swing: -42.3pp toward R · 2008: -19.4pp · 2024: -61.8pp
• All cycles: 2024: R+61.8 2020: R+57.4 2016: R+57.7 2012: R+34.0 2008: R+19.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.20%
• Current HPI: 78.5175
• 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

-6.7% since first listed

8 events — show timeline

• 2026-04-30 Price Changed $69,900 RMLSA as Distributed by MLS Grid
• 2026-01-28 Listing Removed — MRED as Distributed by MLS Grid
• 2026-01-20 Relisted — MRED as Distributed by MLS Grid
• 2026-01-14 Listing Removed — MRED as Distributed by MLS Grid
• 2026-01-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2025-10-23 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-07-08 Listed — RMLSA as Distributed by MLS Grid
• 2025-07-08 Listed $74,900 RMLSA as Distributed by MLS Grid

Property tax history

-6.7%/yr

Latest (2024): $558 · +2.8% YoY. Source: county tax records.