117 N Monroe St · Golconda, IL 62938

$41,500

2 bd · 1.0 ba · 1,572 sqft · SingleFamily · 181 Days on market

Built 1941 8,712 sqft lot $26/sqft · 50% below area Est $83k · 50% under

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Why this score? — see what drove the A- 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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +6.6/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0

Listing remarks

Welcome to this 1.5 story, 2 - bedroom spacious home on a corner lot! Office room finished with knotty-pine paneling. Walk upstairs and you'll find a big loft area that needs some of your own finishing touches, great area for bedrooms. Hardwood floors throughout. Kitchen decorated with checkerboard flooring and checkerboard wall trim. Appliances stay! Laundry room comes with washer and dryer. Has gas furnace and central air. Close to town and within walking distance of the river. Dont miss out on this great investment opportunity! Or Make a great starter home!

Key facts

• 8,712 sq ft lot
• Parking
• Built 1941

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $42k.

Deal economics

• At list price, monthly cash flow is $492 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($956 rent vs $42k).
• Recommended offer: $37k (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.
• Pope County CUD 1 (rural): math 9% / reading 25% proficiency, ranked #492 of 620 in IL (top 79%) — 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 $2k of equity ($287 loan paydown + $1k appreciation (3.2% local appreciation)).
• Pope County population projected at -21% 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 $12k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 181 days — a 12% lower offer ($37k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 6y ago; this cycle's ask is 46% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $15k; list at $42k implies a 177% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $36,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 181 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 1941 — 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: 2.30% ✓
• Cap rate: 20.53%
• Cash-on-cash: 50.85%
• DSCR: 3.26
• GRM: 3.6

CMA / ARV

• ARV (median comp): $82,782
• List price: $41,500
• Delta: -49.87%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 56.2%
• Equity multiple: 4.17×
• Total profit: $36,805
• Equity at exit: $19,132

10-year hold

• IRR: 55.6%
• Equity multiple: 8.45×
• Total profit: $86,528
• Equity at exit: $29,856

Cash invested: $11,620 (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: 3.6×

Monthly cashflow live

• Estimated rent: $956 medium
• Mortgage (P&I): −$218
• Tax from tax record: −$28 /mo · $334/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$201
• Net cashflow: $492

Break-even live

Break-even rent $333

Max offer price $41,500

Occupancy floor 43%

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: $10,375
• Closing costs: $1,245
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-18
   days on market $41,500 Active 181 DOM
2. 2026-06-17
   days on market $41,500 Active 180 DOM
3. 2026-06-16
   days on market $41,500 Active 179 DOM
4. 2026-06-15
   days on market $41,500 Active 178 DOM
5. 2026-06-13
   days on market $41,500 Active 176 DOM
6. 2026-06-12
   days on market $41,500 Active 175 DOM
7. 2026-06-09
   days on market $41,500 Active 172 DOM
8. 2026-06-08
   days on market $41,500 Active 171 DOM
9. 2026-06-07
   days on market $41,500 Active 170 DOM
10. 2026-06-07
    days on market $41,500 Active 169 DOM
11. 2026-06-04
    remarks 571-char remark
12. 2026-06-04
    days on market $41,500 Active 166 DOM
13. 2026-06-02
    days on market $41,500 Active 165 DOM
14. 2026-06-01
    days on market $41,500 Active 164 DOM
15. 2026-05-31
    days on market $41,500 Active 163 DOM
16. 2026-05-31
    days on market $41,500 Active 162 DOM
17. 2026-04-17
    price $41,500
18. 2026-01-08
    status Active
19. 2026-01-07
    historical
20. 2026-01-07
    status Active
21. 2026-01-06
    historical
22. 2026-01-05
    historical
23. 2025-12-07
    listed Active
24. 2020-12-21
    soldstatus $15,000
25. 2020-12-18
    soldstatus $15,000
26. 2020-12-18
    soldstatus $15,000
27. 2020-05-18
    listed $28,500
28. 2020-05-18
    listed $28,500
29. 2003-02-04
    soldstatus $980,000

ⓘ 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: $334 · $28/mo
• Projected year-2 tax: $638 · $53/mo
• Expected delta: +$304/yr (+$25/mo · 91.1%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 22 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,471
• − Mortgage interest: −$2,325
• − Property taxes: −$334
• − Insurance: −$208
• − Repairs & maintenance: −$918
• − Management: −$918
• − Depreciation: −$1,207
• Taxable income: $5,562
• Est. tax owed @ 24.0%: −$1,335
• After-tax cash flow: $4,574/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: Pope County CUD 1
• NCES district ID: 1732280
• Math proficiency: 9% ▼ -9.00%
• Reading proficiency: 25% ▼ -12.00%
• Median HH income: $39,354
• Composite: 14.35/100
• National rank: #9439
• State rank: #492 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

• Census place: Golconda, IL
• Population (ZIP): 2,659

Population outlook (Pope County) Hauer SSP2

• Today (2025): 4,108 people
• By 2030: 3,980 · -3.1%
• By 2040: 3,640 · -11.4%
• By 2050: 3,259 · -20.7%
• By 2075: 2,518 · -38.7%
• By 2100: 2,195 · -46.6%

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 · Pope

• 2024 margin: Solid R (+60.1) · D 19.5% · R 79.6%
• 2008→2024 swing: -37.8pp toward R · 2008: -22.3pp · 2024: -60.1pp
• All cycles: 2024: R+60.1 2020: R+59.3 2016: R+61.2 2012: R+38.8 2008: R+22.3

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

-95.8% since first listed

13 events — show timeline

• 2026-04-17 Price Changed $41,500 MRED as Distributed by MLS Grid
• 2026-01-08 Relisted — MRED as Distributed by MLS Grid
• 2026-01-07 Listing Removed — MRED as Distributed by MLS Grid
• 2026-01-07 Relisted — MRED as Distributed by MLS Grid
• 2026-01-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2026-01-05 Listing Removed — MRED as Distributed by MLS Grid
• 2025-12-07 Listed — RMLSA as Distributed by MLS Grid
• 2020-12-21 Sold (Public Records) $15,000 Public Records
• 2020-12-18 Sold (MLS) $15,000 RMLSA as Distributed by MLS Grid
• 2020-12-18 Sold (MLS) $15,000 MRED as Distributed by MLS Grid
• 2020-05-18 Listed $28,500 RMLSA as Distributed by MLS Grid
• 2020-05-18 Listed $28,500 MRED as Distributed by MLS Grid
• 2003-02-04 Sold (Public Records) $980,000 Public Records

Property tax history

+2.9%/yr

Latest (2024): $334 · -2.4% YoY. Source: county tax records.