313 Castleton Ave · Mount Vernon, IL 62864

$49,900

2 bd · 1.0 ba · 1,080 sqft · Other · 172 Days on market

Built 1900 8,100 sqft lot ↓ 29% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Looking for a great starter home or investment opportunity? This 2 bed, 1 bath home is ready for you to move in and make it home! The welcoming front porch is a great spot to enjoy your morning coffee. The entryway spills into the oversized living room and dining room, both with freshly painted floors. Nestled at the back of the house, the eat-in kitchen features white cabinets and crisp dark countertops. The bathroom has a brand new shower, vanity, and plumbing, and the bedrooms both have new carpeting and fresh paint. The laundry is located just past the kitchen where you will find the basement stairs and back door. The backyard is fenced and has a quaint shed along with the detached 2 ca

Key facts

• 8,100 sq ft lot
• 2 garage spots
• Built 1900

Property features AI

Exterior

• Parking: Detached 2-car garage; 2 total parking spaces
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; Over 100 years old
• Construction: Frame construction with aluminum siding; Block foundation
• Exterior features: Front porch; Fenced yard; Level lot (54 x 150)

Interior

• Kitchen: Kitchen with eating area/table space
• Bedrooms: 2 bedrooms (both on the main level)
• Flooring: Hardwood in living room and dining room; Carpet in bedrooms; Vinyl in kitchen
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric forced air heating; Central air conditioning
• Interior features: Unfinished daylight partial basement with egress window

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $50k.

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 ($1k rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.
• Cap rate 18.1% vs local median 5.3% in Mount Vernon — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 69/100 on livability (#413 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools F, amenities F, commute F.
• Mt Vernon Twp Hsd 201 (town): math 13% / reading 16% proficiency, ranked #532 of 620 in IL (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 186 active listings in the ZIP; 6 units permitted in Jefferson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $345 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Jefferson County population projected at -14% 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 $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 172 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 13y ago; this cycle's ask is 112% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $15k; list at $50k implies a 233% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $43,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 172 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 1900 — 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: 2.20% ✓
• Cap rate: 18.12%
• Cash-on-cash: 42.25%
• DSCR: 2.88
• GRM: 3.8

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: 39.0%
• Equity multiple: 2.67×
• Total profit: $23,278
• Equity at exit: $7,440

10-year hold

• IRR: 45.4%
• Equity multiple: 5.35×
• Total profit: $60,755
• Equity at exit: $4,314

Cash invested: $13,972 (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 62864

• Active inventory: 186
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,098 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$93 /mo · $1,121/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $492

Break-even live

Break-even rent $476

Max offer price $49,900

Occupancy floor 50%

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Listing history 37 events

1. 2026-06-18
   days on market $49,900 Active 172 DOM
2. 2026-06-17
   days on market $49,900 Active 171 DOM
3. 2026-06-16
   days on market $49,900 Active 170 DOM
4. 2026-06-15
   days on market $49,900 Active 169 DOM
5. 2026-06-13
   days on market $49,900 Active 167 DOM
6. 2026-06-12
   days on market $49,900 Active 166 DOM
7. 2026-06-09
   days on market $49,900 Active 163 DOM
8. 2026-06-08
   days on market $49,900 Active 162 DOM
9. 2026-06-07
   days on market $49,900 Active 161 DOM
10. 2026-06-07
    days on market $49,900 Active 160 DOM
11. 2026-06-04
    days on market $49,900 Active 157 DOM
12. 2026-06-02
    days on market $49,900 Active 156 DOM
13. 2026-06-01
    days on market $49,900 Active 155 DOM
14. 2026-05-31
    days on market $49,900 Active 154 DOM
15. 2026-05-31
    days on market $49,900 Active 153 DOM
16. 2026-05-23
    historical
17. 2026-05-23
    price
18. 2026-04-08
    status Active
19. 2026-03-31
    historical
20. 2026-02-04
    price
21. 2026-01-08
    status Active
22. 2026-01-06
    historical
23. 2026-01-05
    historical
24. 2025-12-30
    price
25. 2025-12-29
    price
26. 2025-09-19
    listed Active
27. 2021-08-06
    historical
28. 2021-08-06
    historical
29. 2016-06-14
    soldstatus $15,000
30. 2016-06-14
    soldstatus $15,000
31. 2016-03-14
    listed $23,500
32. 2016-03-14
    listed $23,500
33. 2013-04-19
    soldstatus $12,000
34. 2013-04-19
    soldstatus $12,000
35. 2013-03-19
    listed $21,000
36. 2013-03-19
    listed $21,000
37. 2013-01-18
    historical

ⓘ 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: $1,121 · $93/mo
• Projected year-2 tax: $1,127 · $94/mo
• Expected delta: +$6/yr ($0/mo · 0.5%)

ⓘ 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 ≥106°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $13,181
• − Mortgage interest: −$2,795
• − Property taxes: −$1,121
• − Insurance: −$250
• − Repairs & maintenance: −$1,055
• − Management: −$1,055
• − Depreciation: −$1,452
• Taxable income: $5,455
• Est. tax owed @ 24.0%: −$1,309
• After-tax cash flow: $4,593/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: Mt Vernon Twp Hsd 201
• NCES district ID: 1727360
• Math proficiency: 13% ▼ -8.00%
• Reading proficiency: 16% ▼ -8.00%
• Median HH income: $38,188
• Composite: 12.22/100
• National rank: #9648
• State rank: #532 of 620 in IL

Livability — Mount Vernon

• Score: 69/100
• State rank: #413
• US rank: #8520

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mount Vernon, IL
• Population (ZIP): 23,061

Population outlook (Jefferson County) Hauer SSP2

• Today (2025): 36,818 people
• By 2030: 35,764 · -2.9%
• By 2040: 33,649 · -8.6%
• By 2050: 31,557 · -14.3%
• By 2075: 26,055 · -29.2%
• By 2100: 19,237 · -47.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Black 8% Two or more races 6% Hispanic / Latino 3% Asian 1%
• Common ancestry: Romanian 2% Slovak 2% Serbian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% Tagalog/Filipino 1%

Political lean MEDSL · Jefferson

• 2024 margin: Solid R (+47.8) · D 25.5% · R 73.3% · Other 1.3%
• 2008→2024 swing: -37.0pp toward R · 2008: -10.7pp · 2024: -47.8pp
• All cycles: 2024: R+47.8 2020: R+45.1 2016: R+43.2 2012: R+22.9 2008: R+10.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -83.64%
• Current HPI: 134.2669
• 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

-28.6% since first listed

22 events — show timeline

• 2026-05-23 Listing Removed — MRED as Distributed by MLS Grid
• 2026-05-23 Price Changed — MRED as Distributed by MLS Grid
• 2026-04-08 Relisted — MRED as Distributed by MLS Grid
• 2026-03-31 Listing Removed — MRED as Distributed by MLS Grid
• 2026-02-04 Price Changed — MRED as Distributed by MLS Grid
• 2026-01-08 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
• 2025-12-30 Price Changed — MRED as Distributed by MLS Grid
• 2025-12-29 Price Changed — MRED as Distributed by MLS Grid
• 2025-09-19 Listed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2016-06-14 Sold (MLS) $15,000 RMLSA as Distributed by MLS Grid
• 2016-06-14 Sold (MLS) $15,000 MRED as Distributed by MLS Grid
• 2016-03-14 Listed $23,500 RMLSA as Distributed by MLS Grid
• 2016-03-14 Listed $23,500 MRED as Distributed by MLS Grid
• 2013-04-19 Sold (MLS) $12,000 RMLSA as Distributed by MLS Grid
• 2013-04-19 Sold (MLS) $12,000 MRED as Distributed by MLS Grid
• 2013-03-19 Listed $21,000 RMLSA as Distributed by MLS Grid
• 2013-03-19 Listed $21,000 MRED as Distributed by MLS Grid
• 2013-01-18 Listing Removed — MRED as Distributed by MLS Grid

Property tax history

+12.7%/yr

Latest (2024): $1,121 · +7.5% YoY. Source: county tax records.