604 Walnut St · Abingdon, IL 61410

$60,000

3 bd · 1.0 ba · 1,132 sqft · Other public records · 50 Days on market

Built 1927 5,198 sqft lot

---

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 +9.8/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This home needs to be seen to be appreciated. 2 bedrooms on the main floor, large attic room is dry-walled & has new carpet there (not installed) for a 3rd bedroom. Stool & shower in basement have water turned off. Energy efficient furnace & central air.

Key facts

• 5,198 sq ft lot
• Garage
• Built 1927

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single family residence; Built in 1927
• Construction: Shingle roof; Replacement windows
• Exterior features: Corner, level lot; Shingle roof

Interior

• Kitchen: Microwave; Refrigerator
• Bedrooms: 3 bedrooms (Bedroom 1 on Main level, Bedroom 2 on Main level, Bedroom 3 on Upper level)
• Flooring: Carpet in bedrooms; Hardwood in living room and kitchen
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air; Forced air heating
• Interior features: Replacement windows; Partial, unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $60k.

Deal economics

• At list price, monthly cash flow is $265 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($889 rent vs $60k).
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#976 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: amenities F, commute F, employment F.
• Zoned schools: Abingdon-Avon High Sch (math 8% / reading 22%, grade F, #473 of 693 statewide, top 69%, 285 students, 0% FRL).
• Market conditions: 13 active listings in the ZIP.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $415 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Knox County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 13y 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 $30k; list at $60k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $58,200 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.48% ✓
• Cap rate: 11.59%
• Cash-on-cash: 18.92%
• DSCR: 1.84
• GRM: 5.6

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: 10.8%
• Equity multiple: 1.43×
• Total profit: $7,171
• Equity at exit: $8,946

10-year hold

• IRR: 19.9%
• Equity multiple: 2.67×
• Total profit: $28,074
• Equity at exit: $5,188

Cash invested: $16,800 (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 61410

• Home prices YoY: -25.1%
• Active inventory: 13
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $889 medium
• Mortgage (P&I): −$315
• Tax from tax record: −$98 /mo · $1,175/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$187
• Net cashflow: $265

Break-even live

Break-even rent $554

Max offer price $60,000

Occupancy floor 65%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-01
   historical Under Contract
2. 2026-04-07
   listed $60,000 Active
3. 2014-09-03
   soldstatus $30,000 266-char remark

   Show marketing remark (266 chars)

   This home needs to be seen to be appreciated. 2 bedrooms on the main floor, large attic room is dry-walled & has new carpet there (not installed) for a 3rd bedroom. Stool & shower in basement have water turned off. Energy efficient furnace & central air.

4. 2013-08-16
   listed $49,500 266-char remark

   Show marketing remark (266 chars)

   This home needs to be seen to be appreciated. 2 bedrooms on the main floor, large attic room is dry-walled & has new carpet there (not installed) for a 3rd bedroom. Stool & shower in basement have water turned off. Energy efficient furnace & central air.

ⓘ 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: $1,175 · $98/mo
• Projected year-2 tax: $1,268 · $106/mo
• Expected delta: +$94/yr (+$8/mo · 8.0%)

ⓘ 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 3/10 Moderate 7 d/yr ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,668
• − Mortgage interest: −$3,361
• − Property taxes: −$1,175
• − Insurance: −$300
• − Repairs & maintenance: −$853
• − Management: −$853
• − Depreciation: −$1,745
• Taxable income: $2,381
• Est. tax owed @ 24.0%: −$571
• After-tax cash flow: $2,606/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)

No district data.

Livability — Abingdon

• Score: 60/100
• State rank: #976
• US rank: #18884

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Abingdon, IL
• Population (ZIP): 3,763

Population outlook (Knox County) Hauer SSP2

• Today (2025): 48,224 people
• By 2030: 46,333 · -3.9%
• By 2040: 42,424 · -12.0%
• By 2050: 38,929 · -19.3%
• By 2075: 31,523 · -34.6%
• By 2100: 24,092 · -50.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 5% Two or more races 2% Black 1%
• Common ancestry: Slovak 6% Italian 1% English 1%
• Foreign-born: 0%

Political lean MEDSL · Knox

• 2024 margin: Lean R (+9.4) · D 44.4% · R 53.7% · Other 1.9%
• 2008→2024 swing: -29.3pp toward R · 2008: 19.9pp · 2024: -9.4pp
• All cycles: 2024: R+9.4 2020: R+5.6 2016: R+3.3 2012: D+17.1 2008: D+19.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -51.79%
• Current HPI: 154.296
• 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

+21.2% since first listed

4 events — show timeline

• 2026-05-01 Contingent — RMLSA as Distributed by MLS Grid
• 2026-04-07 Listed $60,000 RMLSA as Distributed by MLS Grid
• 2014-09-03 Sold (MLS) $30,000 RMLSA as Distributed by MLS Grid
• 2013-08-16 Listed $49,500 RMLSA as Distributed by MLS Grid

Property tax history

+7.0%/yr

Latest (2024): $1,175 · +6.3% YoY. Source: county tax records.