413 S Main · Loraine, IL 62349

$50,000

3 bd · 1.0 ba · 1,062 sqft · SingleFamily · 228 Days on market

Built 1950 0.40 ac lot ↓ 17% 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
• Appreciation +5.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0

Listing remarks MLS

Home has a nice double lot. Alley access with large, detached garage. Main floor laundry. Updated bathroom in past 4 years.

Key facts

• Alley access
• Double lot
• Main floor laundry

Tags

• DOUBLE LOT
• ALLEY ACCESS
• DETACHED GARAGE
• MAIN FLOOR LAUNDRY
• UPDATED BATHROOM

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $382 ($5k/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.

Location & tenants

• Location reads 60/100 on livability (#1,000 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools F, crime D-, amenities F.
• CUSD 4 (rural): math 16% / reading 23% proficiency, ranked #429 of 620 in IL (top 69%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 7 active listings in the ZIP; 68 units permitted in Adams County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($346 loan paydown + $2k appreciation (3.0% local appreciation)).
• Adams 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 228 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 17y 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.

Risks & watch-outs

• Watch-outs: property tax is 3.7% of price; built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $44,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 228 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 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. Crime grade is D 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?
8. 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.
9. 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.
10. 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: 2.07% ✓
• Cap rate: 15.46%
• Cash-on-cash: 32.73%
• DSCR: 2.46
• GRM: 4.0

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: 38.5%
• Equity multiple: 3.17×
• Total profit: $30,412
• Equity at exit: $22,482

10-year hold

• IRR: 38.6%
• Equity multiple: 6.31×
• Total profit: $74,290
• Equity at exit: $34,648

Cash invested: $14,000 (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 62349

• Active inventory: 7
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,036 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$153 /mo · $1,839/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$217
• Net cashflow: $382

Break-even live

Break-even rent $552

Max offer price $50,000

Occupancy floor 58%

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Listing history 36 events

1. 2026-06-18
   days on market $50,000 Active 228 DOM
2. 2026-06-17
   days on market $50,000 Active 227 DOM
3. 2026-06-16
   days on market $50,000 Active 226 DOM
4. 2026-06-15
   days on market $50,000 Active 225 DOM
5. 2026-06-13
   days on market $50,000 Active 223 DOM
6. 2026-06-12
   days on market $50,000 Active 222 DOM
7. 2026-06-09
   days on market $50,000 Active 219 DOM
8. 2026-06-08
   days on market $50,000 Active 218 DOM
9. 2026-06-07
   days on market $50,000 Active 217 DOM
10. 2026-06-07
    days on market $50,000 Active 216 DOM
11. 2026-06-04
    days on market $50,000 Active 213 DOM
12. 2026-06-02
    days on market $50,000 Active 212 DOM
13. 2026-06-01
    days on market $50,000 Active 211 DOM
14. 2026-05-31
    days on market $50,000 Active 210 DOM
15. 2026-05-31
    days on market $50,000 Active 209 DOM
16. 2026-02-09
    soldstatus $47,500 Closed 123-char remark

    Show marketing remark (123 chars)

    Home has a nice double lot. Alley access with large, detached garage. Main floor laundry. Updated bathroom in past 4 years.

17. 2026-01-17
    historical Contingent - Continue to Show 123-char remark

    Show marketing remark (123 chars)

    Home has a nice double lot. Alley access with large, detached garage. Main floor laundry. Updated bathroom in past 4 years.

18. 2026-01-08
    historical
19. 2026-01-08
    status Active
20. 2026-01-06
    historical
21. 2026-01-05
    historical
22. 2025-10-30
    listed $50,000 Active 123-char remark

    Show marketing remark (123 chars)

    Home has a nice double lot. Alley access with large, detached garage. Main floor laundry. Updated bathroom in past 4 years.

23. 2025-10-30
    listed Active

    Show marketing remark (123 chars)

    Home has a nice double lot. Alley access with large, detached garage. Main floor laundry. Updated bathroom in past 4 years.

24. 2025-10-30
    listed $50,000 Active

    Show marketing remark (123 chars)

    Home has a nice double lot. Alley access with large, detached garage. Main floor laundry. Updated bathroom in past 4 years.

25. 2022-09-27
    historical
26. 2022-09-27
    historical
27. 2022-09-27
    historical
28. 2017-07-03
    soldstatus
29. 2017-03-01
    historical
30. 2016-08-14
    historical
31. 2015-02-12
    historical
32. 2009-07-15
    soldstatus $52,800
33. 2009-07-15
    soldstatus $52,800
34. 2009-07-01
    soldstatus $52,800
35. 2009-04-17
    listed $56,900
36. 2009-04-17
    listed $56,900

ⓘ 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: $1,839 · $153/mo
• Projected year-2 tax: $1,839 · $153/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% 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: $12,427
• − Mortgage interest: −$2,801
• − Property taxes: −$1,839
• − Insurance: −$250
• − Repairs & maintenance: −$994
• − Management: −$994
• − Depreciation: −$1,455
• Taxable income: $4,094
• Est. tax owed @ 24.0%: −$983
• After-tax cash flow: $3,599/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: CUSD 4
• NCES district ID: 1725590
• Math proficiency: 16% ▼ -5.00%
• Reading proficiency: 23% ▼ -6.00%
• Median HH income: $48,758
• Composite: 17.36/100
• National rank: #9077
• State rank: #429 of 620 in IL

Livability — Loraine

• Score: 60/100
• State rank: #1000
• US rank: #19236

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Loraine, IL
• Population (ZIP): 678

Population outlook (Adams County) Hauer SSP2

• Today (2025): 65,795 people
• By 2030: 64,436 · -2.1%
• By 2040: 61,007 · -7.3%
• By 2050: 56,851 · -13.6%
• By 2075: 46,424 · -29.4%
• By 2100: 34,305 · -47.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 7% Two or more races 7% Black 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 4% Slovak 4% Serbian 3%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · Spanish 4% French/Haitian/Cajun 2%

Political lean MEDSL · Adams

• 2024 margin: Solid R (+47.4) · D 25.6% · R 73.0% · Other 1.5%
• 2008→2024 swing: -25.0pp toward R · 2008: -22.4pp · 2024: -47.4pp
• All cycles: 2024: R+47.4 2020: R+46.5 2016: R+47.5 2012: R+35.2 2008: R+22.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

-16.5% since first listed

21 events — show timeline

• 2026-02-09 Sold (MLS) $47,500 MRED as Distributed by MLS Grid
• 2026-01-17 Contingent — MRED as Distributed by MLS Grid
• 2026-01-08 Listing Removed — 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
• 2025-10-30 Listed $50,000 Quincy AOR
• 2025-10-30 Listed — RMLSA as Distributed by MLS Grid
• 2025-10-30 Listed $50,000 MRED as Distributed by MLS Grid
• 2022-09-27 Listing Removed — RMLSA as Distributed by MLS Grid
• 2022-09-27 Listing Removed — RMLSA as Distributed by MLS Grid
• 2022-09-27 Listing Removed — RMLSA as Distributed by MLS Grid
• 2017-07-03 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2017-03-01 Listing Removed — MRED as Distributed by MLS Grid
• 2016-08-14 Listing Removed — MRED as Distributed by MLS Grid
• 2015-02-12 Listing Removed — MRED as Distributed by MLS Grid
• 2009-07-15 Sold (MLS) $52,800 RMLSA as Distributed by MLS Grid
• 2009-07-15 Sold (MLS) $52,800 MRED as Distributed by MLS Grid
• 2009-07-01 Sold (Public Records) $52,800 Public Records
• 2009-04-17 Listed $56,900 RMLSA as Distributed by MLS Grid
• 2009-04-17 Listed $56,900 MRED as Distributed by MLS Grid

Property tax history

+5.9%/yr

Latest (2023): $1,839 · +2.0% YoY. Source: county tax records.