301-303 N Diamond St · Jacksonville, IL 62650

$165,900

8 bd · 4.4 ba · 3,181 sqft · Other · 8 Days on market

Built 1940 0.25 ac lot

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Why this score? — see what drove the D 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 +14.9/30.0
• ARV discount +7.5/15.0
• 1% rule +4.6/10.0
• DSCR +4.5/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nicely updated duplex with nice income! Unit 301 is a 3 bedroom, 2 bathroom with nice closets and a long time tenant. It rents for $700/mo on a month to month lease. Unit 303 is a 2 bedroom, 1.5 bathroom with new flooring and paint. It rents for $750/mo on a yearly lease starting 3/1/25. Several replacement windows, nice siding, lots of off street parking. Tenants pay all utilities and owner pays for lawn care. This is a nice unit to add to your portfolio!

Key facts

• Furnaces replaced
• Updated bathrooms
• Laundry hook ups

Tags

• MAIN FLOOR ENTRANCE DOORS
• INVITING COVERED FRONT PORCH
• OUTDOOR SPACES
• UPDATED BATHROOMS
• LAUNDRY HOOK UPS
• FURNACES REPLACED

Property features AI

Finance

• Financial info: Multifamily with 2 units (listed unit-level rents: Unit 1 $965, Unit 2 $800); Total units reported as 2

Exterior

• Parking: Total of 4 parking spaces; Oversized parking spaces; Each unit listed with 2 parking spaces (uncovered)
• Utilities: Public water; Public sewer
• Home design: Residential income property; Two or more stories; Built in 1940
• Construction: Shingle roof; Not new construction; Building area approximately 3,181
• Exterior features: Level lot; Lot dimensions approximately 84 x 131

Interior

• Bedrooms: Unit 1: 2 bedrooms; Unit 2: 3 bedrooms; Unit 3: 2 bedrooms
• Bathrooms: Each unit has 1 full bathroom and 1 half bathroom
• Heating & cooling: Central air; Multiple heating sources including electric, forced air and window units
• Interior features: Private laundry with individual unit hookups; Cellar
• Laundry & utility: Private laundry for each unit with hookups

What this means for you Summary

Snapshot

• This is a 8-bed/4.4-bath other listed at $166k.

Deal economics

• At list price, monthly cash flow is $47 ($568/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 $160k (3.5% below list).
• Recommended offer: $160k (3.5% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 5.4% in Jacksonville — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 76/100 on livability (#187 in IL, #3,543 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, amenities C-, commute F.
• Jacksonville SD 117 (town): math 20% / reading 23% proficiency, ranked #407 of 620 in IL (top 66%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Washington Elem School (math 17% / reading 22%, grade F, #1,054 of 2,056 statewide, top 54%, 231 students, 0% FRL); Jacksonville Middle School (math 17% / reading 19%, grade F, #444 of 665 statewide, top 67%, 718 students, 0% FRL); Jacksonville High School (math 21% / reading 25%, grade F, #312 of 693 statewide, top 46%, 893 students, 0% FRL) — zoned schools average 0% FRL vs 51% district-wide (51 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 143 active listings in the ZIP; 3 units permitted in Morgan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Morgan County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 20y 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 $125k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $160,026 (3.5% below list)

Questions for the listing agent

1. Built in 1940 — 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 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?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.96% ✗
• Cap rate: 6.64%
• Cash-on-cash: 1.22%
• DSCR: 1.05
• GRM: 8.6

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: -14.3%
• Equity multiple: 0.49×
• Total profit: $-23,801
• Equity at exit: $24,736

10-year hold

• IRR: -5.5%
• Equity multiple: 0.64×
• Total profit: $-16,570
• Equity at exit: $14,344

Cash invested: $46,452 (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 62650

• Active inventory: 143
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,600 medium
• Mortgage (P&I): −$870
• Tax from tax record: −$278 /mo · $3,333/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$336
• Net cashflow: $47

Break-even live

Break-even rent $1,540

Max offer price $165,900

Occupancy floor 92%

Sensitivity live

Price	-10% $141	-5% $94	+0% $47	+5% $0	+10% $-47
Rent	-10% $-79	-5% $-16	+0% $47	+5% $111	+10% $174
Rate	-1.0pp $131	-0.5pp $90	base $47	+0.5pp $4	+1.0pp $-39

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: $41,475
• Closing costs: $4,977
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-22
   days on market $165,900 Active 8 DOM
2. 2026-06-21
   days on market $165,900 Active 7 DOM
3. 2026-06-21
   days on market $165,900 Active 6 DOM
4. 2026-06-18
   days on market $165,900 Active 4 DOM
5. 2026-06-17
   days on market $165,900 Active 3 DOM
6. 2026-06-16
   days on market $165,900 Active 2 DOM
7. 2026-06-15
   remarks 699-char remark
8. 2026-06-15
   listed $165,900 Active 1 DOM

ⓘ 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: $3,333 · $278/mo
• Projected year-2 tax: $3,549 · $296/mo
• Expected delta: +$216/yr (+$18/mo · 6.5%)

ⓘ 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 ≥105°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $19,203
• − Mortgage interest: −$9,293
• − Property taxes: −$3,333
• − Insurance: −$830
• − Repairs & maintenance: −$1,536
• − Management: −$1,536
• − Depreciation: −$4,826
• Taxable loss: −$2,151
• Est. tax savings @ 24.0%: +$516
• After-tax cash flow: $1,084/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: Jacksonville SD 117
• NCES district ID: 1720280
• Math proficiency: 20% ▼ -3.00%
• Reading proficiency: 23% ▼ -6.00%
• Median HH income: $44,909
• Composite: 18.66/100
• National rank: #8888
• State rank: #407 of 620 in IL

Livability — Jacksonville

• Score: 76/100
• State rank: #187
• US rank: #3543

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Jacksonville, IL
• City population: 24,318
• Population (ZIP): 24,318

Population outlook (Morgan County) Hauer SSP2

• Today (2025): 32,874 people
• By 2030: 31,698 · -3.6%
• By 2040: 29,050 · -11.6%
• By 2050: 26,381 · -19.8%
• By 2075: 20,235 · -38.4%
• By 2100: 14,324 · -56.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Black 7% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Lithuanian 2% Slovak 1% Iranian 1%
• Foreign-born: 1% · Canada, South Korea
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Morgan

• 2024 margin: Solid R (+32.5) · D 33.1% · R 65.6% · Other 1.3%
• 2008→2024 swing: -31.7pp toward R · 2008: -0.8pp · 2024: -32.5pp
• All cycles: 2024: R+32.5 2020: R+31.8 2016: R+29.9 2012: R+15.4 2008: R+0.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -84.33%
• Current HPI: 126.5712
• 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

+84.5% since first listed

8 events — show timeline

• 2026-06-13 Listed $165,900 RMLSA as Distributed by MLS Grid
• 2025-06-02 Sold (Public Records) $125,000 Public Records
• 2025-06-02 Sold (MLS) $125,000 RMLSA as Distributed by MLS Grid
• 2025-04-02 Pending — RMLSA as Distributed by MLS Grid
• 2025-03-31 Listed $129,900 RMLSA as Distributed by MLS Grid
• 2006-06-29 Sold (Public Records) $89,900 Public Records
• 2006-06-29 Sold (MLS) $89,900 RMLSA as Distributed by MLS Grid
• 2006-06-06 Listed $89,900 RMLSA as Distributed by MLS Grid

Property tax history

+1.8%/yr

Latest (2025): $3,333 · +7.7% YoY. Source: county tax records.