320 N Mechanic St · Macomb, IL 61455

$40,500

2 bd · 0.5 ba · 1,225 sqft · SingleFamily · 294 Days on market

Good condition 0.52 ac lot $33/sqft · 50% below area

---

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
• Condition / age +3.8/5.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This building (previously a church) is extremely well maintained and ready for your next venture! Currently the main floor is an open auditorium measuring approximately 36' by 17', plus 2 offices/possible bedrooms, and a half bath. Some renovations for residential use would be necessary since the building has been used as a church for many years. While there is currently no kitchen, the dimensions here are taken for an area that would serve well for use as a kitchen. With both overhead and indirect lighting, there is plenty of illumination, plus 200 Amp electrical service. The parking lot can accommodate around 20 cars, plus there is another large lot to the west that runs north to the connecting street (Adams St.) making the total lot size over 1/2 acre. Super well maintained and ready for your individual plans!

Key facts

• Large lot
• Parking lot
• 0.52 acre lot

Tags

• 200 AMP ELECTRICAL SERVICE
• PARKING LOT
• LARGE LOT

What this means for you Summary

Snapshot

• This is a 2-bed/0.5-bath single-family listed at $40k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $432 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($902 rent vs $40k).
• Recommended offer: $36k (12.0% below list) — sets the bar for market timing.
• Cap rate 19.1% vs local median 6.2% in Macomb — 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 70/100 on livability (#379 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B; Watch: schools D, crime D, amenities D.
• Macomb CUSD 185 (town): math 19% / reading 26% proficiency, ranked #410 of 620 in IL (top 66%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 135 active listings in the ZIP; 1 comparable units currently listed for rent nearby.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $280 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 294 days — a 12% lower offer ($36k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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.

Recommended offer $35,640 (12.0% below list)

Questions for the listing agent

1. It's been on market 294 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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?
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: 2.23% ✓
• Cap rate: 19.10%
• Cash-on-cash: 45.75%
• DSCR: 3.04
• GRM: 3.7

CMA / ARV

• ARV (median comp): $81,002
• List price: $40,500
• Delta: -50.00%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
210 S White St	0.41mi	2/1.0	1,246 (+2%)	3mo	$67,000	$54	74
422 N Randolph St	0.38mi	3/1.5 (+1)	1,156 (-6%)	2mo	$64,000	$55	63
725 N Mechanic St	0.36mi	2/2.0	1,320 (+8%)	2mo	$126,000	$95	63
812 E Murray St	0.34mi	2/1.0	1,103 (-10%)	7mo	$60,000	$54	59
1331 E Pierce St	0.55mi	1/1.0 (-1)	1,278 (+4%)	2mo	$25,000	$20	58
715 E Piper St	0.46mi	2/1.0	1,314 (+7%)	9mo	$71,000	$54	57
409 N Mcarthur St	0.50mi	2/2.0	1,323 (+8%)	1mo	$24,000	$18	57
715 Lawndale Dr	0.62mi	3/1.5 (+1)	1,232 (+1%)	6mo	$167,500	$136	56
620 N Scotland St	0.72mi	3/1.0 (+1)	1,228 (+0%)	8mo	$24,000	$20	52
336 S Madison St	0.45mi	3/1.0 (+1)	1,334 (+9%)	8mo	$20,000	$15	51
403 S Dudley St	0.48mi	1/2.0 (-1)	1,354 (+10%)	2mo	$50,000	$37	48
115 W Washington St	0.54mi	3/3.0 (+1)	1,141 (-7%)	10mo	$60,000	$53	40

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 42.9%
• Equity multiple: 2.85×
• Total profit: $20,989
• Equity at exit: $6,039

10-year hold

• IRR: 49.0%
• Equity multiple: 5.74×
• Total profit: $53,791
• Equity at exit: $3,502

Cash invested: $11,340 (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 61455

• Home prices YoY: -33.3%
• Active inventory: 135
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $902 medium
• Mortgage (P&I): −$212
• Tax est. 1.5%: −$51 /mo · $608/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$189
• Net cashflow: $432

Break-even live

Break-even rent $354

Max offer price $40,500

Occupancy floor 47%

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: $10,125
• Closing costs: $1,215
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
902 N Charles St Macomb, IL	2.0	1.5	840	$695	$0.83	44d	1	0.92mi

Listing history 22 events

1. 2026-06-19
   days on market $40,500 Active 294 DOM
2. 2026-06-18
   days on market $40,500 Active 293 DOM
3. 2026-06-17
   days on market $40,500 Active 292 DOM
4. 2026-06-16
   days on market $40,500 Active 291 DOM
5. 2026-06-15
   days on market $40,500 Active 290 DOM
6. 2026-06-14
   days on market $40,500 Active 288 DOM
7. 2026-06-12
   days on market $40,500 Active 287 DOM
8. 2026-06-09
   days on market $40,500 Active 284 DOM
9. 2026-06-08
   days on market $40,500 Active 283 DOM
10. 2026-06-07
    days on market $40,500 Active 282 DOM
11. 2026-06-04
    days on market $40,500 Active 278 DOM
12. 2026-06-02
    pricedays on market $40,500 Active 277 DOM
13. 2026-06-01
    days on market $42,000 Active 276 DOM
14. 2026-05-31
    days on market $42,000 Active 275 DOM
15. 2026-05-31
    days on market $42,000 Active 274 DOM
16. 2026-04-16
    status Active 824-char remark

    Show marketing remark (824 chars)

    This building (previously a church) is extremely well maintained and ready for your next venture! Currently the main floor is an open auditorium measuring approximately 36' by 17', plus 2 offices/possible bedrooms, and a half bath. Some renovations for residential use would be necessary since the building has been used as a church for many years. While there is currently no kitchen, the dimensions here are taken for an area that would serve well for use as a kitchen. With both overhead and indirect lighting, there is plenty of illumination, plus 200 Amp electrical service. The parking lot can accommodate around 20 cars, plus there is another large lot to the west that runs north to the connecting street (Adams St.) making the total lot size over 1/2 acre. Super well maintained and ready for your individual plans!

17. 2026-01-19
    status Pending 824-char remark

    Show marketing remark (824 chars)

    This building (previously a church) is extremely well maintained and ready for your next venture! Currently the main floor is an open auditorium measuring approximately 36' by 17', plus 2 offices/possible bedrooms, and a half bath. Some renovations for residential use would be necessary since the building has been used as a church for many years. While there is currently no kitchen, the dimensions here are taken for an area that would serve well for use as a kitchen. With both overhead and indirect lighting, there is plenty of illumination, plus 200 Amp electrical service. The parking lot can accommodate around 20 cars, plus there is another large lot to the west that runs north to the connecting street (Adams St.) making the total lot size over 1/2 acre. Super well maintained and ready for your individual plans!

18. 2025-11-17
    status Active 824-char remark

    Show marketing remark (824 chars)

    This building (previously a church) is extremely well maintained and ready for your next venture! Currently the main floor is an open auditorium measuring approximately 36' by 17', plus 2 offices/possible bedrooms, and a half bath. Some renovations for residential use would be necessary since the building has been used as a church for many years. While there is currently no kitchen, the dimensions here are taken for an area that would serve well for use as a kitchen. With both overhead and indirect lighting, there is plenty of illumination, plus 200 Amp electrical service. The parking lot can accommodate around 20 cars, plus there is another large lot to the west that runs north to the connecting street (Adams St.) making the total lot size over 1/2 acre. Super well maintained and ready for your individual plans!

19. 2025-10-20
    historical Under Contract 824-char remark

    Show marketing remark (824 chars)

    This building (previously a church) is extremely well maintained and ready for your next venture! Currently the main floor is an open auditorium measuring approximately 36' by 17', plus 2 offices/possible bedrooms, and a half bath. Some renovations for residential use would be necessary since the building has been used as a church for many years. While there is currently no kitchen, the dimensions here are taken for an area that would serve well for use as a kitchen. With both overhead and indirect lighting, there is plenty of illumination, plus 200 Amp electrical service. The parking lot can accommodate around 20 cars, plus there is another large lot to the west that runs north to the connecting street (Adams St.) making the total lot size over 1/2 acre. Super well maintained and ready for your individual plans!

20. 2025-07-15
    status Active 824-char remark

    Show marketing remark (824 chars)

    This building (previously a church) is extremely well maintained and ready for your next venture! Currently the main floor is an open auditorium measuring approximately 36' by 17', plus 2 offices/possible bedrooms, and a half bath. Some renovations for residential use would be necessary since the building has been used as a church for many years. While there is currently no kitchen, the dimensions here are taken for an area that would serve well for use as a kitchen. With both overhead and indirect lighting, there is plenty of illumination, plus 200 Amp electrical service. The parking lot can accommodate around 20 cars, plus there is another large lot to the west that runs north to the connecting street (Adams St.) making the total lot size over 1/2 acre. Super well maintained and ready for your individual plans!

21. 2025-06-19
    historical Under Contract 824-char remark

    Show marketing remark (824 chars)

    This building (previously a church) is extremely well maintained and ready for your next venture! Currently the main floor is an open auditorium measuring approximately 36' by 17', plus 2 offices/possible bedrooms, and a half bath. Some renovations for residential use would be necessary since the building has been used as a church for many years. While there is currently no kitchen, the dimensions here are taken for an area that would serve well for use as a kitchen. With both overhead and indirect lighting, there is plenty of illumination, plus 200 Amp electrical service. The parking lot can accommodate around 20 cars, plus there is another large lot to the west that runs north to the connecting street (Adams St.) making the total lot size over 1/2 acre. Super well maintained and ready for your individual plans!

22. 2025-06-02
    listed $42,000 Active 824-char remark

    Show marketing remark (824 chars)

    This building (previously a church) is extremely well maintained and ready for your next venture! Currently the main floor is an open auditorium measuring approximately 36' by 17', plus 2 offices/possible bedrooms, and a half bath. Some renovations for residential use would be necessary since the building has been used as a church for many years. While there is currently no kitchen, the dimensions here are taken for an area that would serve well for use as a kitchen. With both overhead and indirect lighting, there is plenty of illumination, plus 200 Amp electrical service. The parking lot can accommodate around 20 cars, plus there is another large lot to the west that runs north to the connecting street (Adams St.) making the total lot size over 1/2 acre. Super well maintained and ready for your individual plans!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥107°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,819
• − Mortgage interest: −$2,269
• − Property taxes: −$608
• − Insurance: −$202
• − Repairs & maintenance: −$866
• − Management: −$866
• − Depreciation: −$1,178
• Taxable income: $4,831
• Est. tax owed @ 24.0%: −$1,159
• After-tax cash flow: $4,029/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.

Condition & rehab AI · 12 photos

Good 75/100 Moderate rehab

This previously church building is in good condition with moderate renovations needed for residential use. A kitchen renovation and exterior painting would significantly increase its value.

Repairs flagged

• Major Kitchen — No kitchen visible

Value-add opportunities

• Both Kitchen renovation — Creates a functional living space
• Both Paint exterior — Enhances curb appeal
• Both Clean carpets — Improves indoor air quality and appearance

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen · No kitchen visible	Major	$15,000–50,000
Total estimated repair cost · 1 items		$15,000–50,000

Value-add ROI direction

• Both Kitchen renovation — Creates a functional living space ↑
• Both Paint exterior — Enhances curb appeal ↑
• Both Clean carpets — Improves indoor air quality and appearance ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Macomb CUSD 185
• NCES district ID: 1723920
• Math proficiency: 19% ▼ -7.00%
• Reading proficiency: 26% ▼ -8.00%
• Median HH income: $34,162
• Composite: 18.45/100
• National rank: #8927
• State rank: #410 of 620 in IL

Livability — Macomb

• Score: 70/100
• State rank: #379
• US rank: #7918

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Macomb, IL
• County: McDonough County · 17,317 people
• City population: 17,317
• Metro: Macomb, IL
• Population (ZIP): 17,317
• Household income: $48,679
• Rent vs Own: 45.1% rent · 54.9% own
• Severe rent burden: 1062.0

Population outlook (McDonough County) Hauer SSP2

• Today (2025): 33,242 people
• By 2030: 33,318 · +0.2%
• By 2040: 33,520 · +0.8%
• By 2050: 33,630 · +1.2%
• By 2075: 33,657 · +1.2%
• By 2100: 33,127 · -0.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Black 9% Two or more races 5% Hispanic / Latino 5% Asian 3%
• Common ancestry: Romanian 3% Italian 3% Iranian 2%
• Foreign-born: 4% · Canada, South Korea, China
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 1% Russian/Polish/Slavic 1%

Political lean MEDSL · McDonough

• 2024 margin: R (+18.9) · D 39.7% · R 58.5% · Other 1.8%
• 2008→2024 swing: -24.4pp toward R · 2008: 5.6pp · 2024: -18.9pp
• All cycles: 2024: R+18.9 2020: R+16.6 2016: R+11.7 2012: R+1.5 2008: D+5.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -70.20%
• Current HPI: 140.4351
• Rent YoY: —
• Metro: Macomb, IL
• 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

7 events — show timeline

• 2026-04-16 Relisted — RMLSA as Distributed by MLS Grid
• 2026-01-19 Pending — RMLSA as Distributed by MLS Grid
• 2025-11-17 Relisted — RMLSA as Distributed by MLS Grid
• 2025-10-20 Contingent — RMLSA as Distributed by MLS Grid
• 2025-07-15 Relisted — RMLSA as Distributed by MLS Grid
• 2025-06-19 Contingent — RMLSA as Distributed by MLS Grid
• 2025-06-02 Listed $42,000 RMLSA as Distributed by MLS Grid