56 May Ave · Buncombe, IL 62912

$119,800

3 bd · 2.0 ba · 1,552 sqft · SingleFamily · 11 Days on market

Built 1906 Good condition 0.26 ac lot ↓ 4% since listing

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Why this score? — see what drove the C- 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 +18.0/30.0
• ARV discount +7.5/15.0
• Appreciation +6.9/10.0
• DSCR +5.7/10.0
• 1% rule +4.8/10.0
• Condition / age +4.0/5.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Schools +2.4/10.0

Listing remarks

Beautifully remodeled and move-in ready! This 3-bedroom, 2-bath home offers modern updates while maintaining a warm, inviting feel. The layout includes a private primary suite, updated bathrooms, and a refreshed kitchen with new cabinetry, modern backsplash and a walk-in pantry. Enjoy both a formal dining area and eat-in kitchen space for living and entertaining. Major upgrades provide peace of mind, including newer Window World windows with transferable warranty, updated HVAC system, and updates to both electrical and plumbing. The metal roof is approximately 10 years old, adding durability and long-term value. Situated on a nice in-town lot, this home offers a convenient location with eas

Key facts

• 0.26 acre lot
• Parking
• Built 1906

Property features AI

Finance

• Other: Not rebuilt or rehabilitated; Possession at closing
• HOA & community: No master association fee required

Exterior

• Parking: 3 parking spaces
• Utilities: Public water; Public sewer; Electric service
• Home design: Detached single-family home; One-story layout; Fee simple ownership; Property over 100 years old; Vinyl siding
• Construction: Vinyl siding construction; Built before 1978
• Exterior features: Lot dimensions approximately 37 x 40; Lot size between 0.25 and 0.49 acre

Interior

• Kitchen: Kitchen on main level (17 x 14); Range; Refrigerator; Range hood
• Bedrooms: 3 bedrooms total, all on the main level; Master bedroom on main level with full bath; Bedroom 2 (13 x 13) on main level; Bedroom 3 (14 x 13) on main level
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: 6 total rooms; Basement is partial with a cellar; Separate dining room or kitchen/dining combo; Mud room on main level
• Laundry & utility: Main-level laundry room (8 x 6); Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $120k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $104 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $118k (1.6% below list).
• Recommended offer: $118k (1.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 57/100 on livability (#1,143 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Vienna Hsd 133 (rural): math 15% / reading 35% proficiency, ranked #630 of 919 in IL (top 69%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Vienna High School (math 12% / reading 27%, grade F, #397 of 693 statewide, top 61%, 322 students, 0% FRL).
• Market conditions: 7 active listings in the ZIP.

Forward outlook

• In year one you build about $5k of equity ($828 loan paydown + $5k appreciation (3.9% local appreciation)).
• Johnson County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (3.9% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1906 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $117,930 (1.6% below list)

Questions for the listing agent

1. Built in 1906 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.98% ✗
• Cap rate: 7.33%
• Cash-on-cash: 3.71%
• DSCR: 1.17
• GRM: 8.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.9% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 13.3%
• Equity multiple: 1.80×
• Total profit: $26,847
• Equity at exit: $60,027

10-year hold

• IRR: 14.7%
• Equity multiple: 3.37×
• Total profit: $79,466
• Equity at exit: $97,615

Cash invested: $33,544 (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 62912

• Home prices YoY: 3.2%
• Active inventory: 7
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,179 medium
• Mortgage (P&I): −$628
• Tax est. 1.5%: −$150 /mo · $1,797/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$248
• Net cashflow: $104

Break-even live

Break-even rent $1,048

Max offer price $119,800

Occupancy floor 86%

Sensitivity live

Price	-10% $187	-5% $145	+0% $104	+5% $62	+10% $21
Rent	-10% $11	-5% $57	+0% $104	+5% $150	+10% $197
Rate	-1.0pp $164	-0.5pp $134	base $104	+0.5pp $73	+1.0pp $41

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: $29,950
• Closing costs: $3,594
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $119,800 Under Contract 11 DOM
2. 2026-06-18
   days on market $119,800 Under Contract 9 DOM
3. 2026-06-17
   days on market $119,800 Under Contract 8 DOM
4. 2026-06-16
   days on market $119,800 Under Contract 7 DOM
5. 2026-06-15
   days on market $119,800 Under Contract 6 DOM
6. 2026-06-13
   days on market $119,800 Under Contract 4 DOM
7. 2026-06-12
   days on market $119,800 Under Contract 3 DOM
8. 2026-06-09
   statusdays on marketlisting id $119,800 Under Contract 1 DOM
9. 2026-06-08
   days on market $119,800 Contingent - Continue to Show 73 DOM
10. 2026-06-07
    days on market $119,800 Contingent - Continue to Show 72 DOM
11. 2026-06-04
    days on market $119,800 Contingent - Continue to Show 68 DOM
12. 2026-06-02
    days on market $119,800 Contingent - Continue to Show 67 DOM
13. 2026-06-01
    days on market $119,800 Contingent - Continue to Show 66 DOM
14. 2026-05-31
    days on market $119,800 Contingent - Continue to Show 65 DOM
15. 2026-05-31
    days on market $119,800 Contingent - Continue to Show 64 DOM
16. 2026-05-23
    historical Contingent - Continue to Show
17. 2026-05-02
    price $119,800
18. 2026-03-26
    listed $124,500 Active

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

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥107°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,152
• − Mortgage interest: −$6,711
• − Property taxes: −$1,797
• − Insurance: −$599
• − Repairs & maintenance: −$1,132
• − Management: −$1,132
• − Depreciation: −$3,485
• Taxable loss: −$704
• Est. tax savings @ 24.0%: +$169
• After-tax cash flow: $1,414/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 · 13 photos

Good 80/100 Cosmetic rehab

This move-in ready home features updated interiors and a well-maintained exterior, with minor touch-ups needed for optimal curb appeal and value.

Value-add opportunities

• Both Paint exterior trim — Enhances curb appeal and value.
• Both Trim landscaping — Improves curb appeal and enhances property value.
• Both Replace window screens — Improves energy efficiency and aesthetics.
• Both Install new outdoor lighting — Enhances safety and curb appeal.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior trim — Enhances curb appeal and value. ↑
• Both Trim landscaping — Improves curb appeal and enhances property value. ↑
• Both Replace window screens — Improves energy efficiency and aesthetics. ↑
• Both Install new outdoor lighting — Enhances safety and curb appeal. ↑

ⓘ 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: Vienna Hsd 133
• NCES district ID: 1740290
• Math proficiency: 15% ▲ 5.00%
• Reading proficiency: 35% ▬ 0.00%
• Median HH income: $40,197
• Composite: 24.12/100
• National rank: #13157
• State rank: #630 of 919 in IL

Livability — Buncombe

• Score: 57/100
• State rank: #1143
• US rank: #21572

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Buncombe, IL
• Population (ZIP): 1,534

Population outlook (Johnson County) Hauer SSP2

• Today (2025): 13,355 people
• By 2030: 13,579 · +1.7%
• By 2040: 13,849 · +3.7%
• By 2050: 13,880 · +3.9%
• By 2075: 13,759 · +3.0%
• By 2100: 11,536 · -13.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 6% Hispanic / Latino 2%
• Common ancestry: Serbian 2% Slovak 1% Lithuanian 1%
• Foreign-born: 0%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Johnson

• 2024 margin: Solid R (+58.3) · D 20.3% · R 78.6% · Other 1.1%
• 2008→2024 swing: -23.7pp toward R · 2008: -34.6pp · 2024: -58.3pp
• All cycles: 2024: R+58.3 2020: R+58.6 2016: R+58.3 2012: R+42.1 2008: R+34.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.90%
• Current HPI: 127.1564
• 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

-3.8% since first listed

3 events — show timeline

• 2026-05-23 Contingent — MRED as Distributed by MLS Grid
• 2026-05-02 Price Changed $119,800 MRED as Distributed by MLS Grid
• 2026-03-26 Listed $124,500 MRED as Distributed by MLS Grid