324 N Harrison St · Girard, IL 62640

$59,900

3 bd · 1.0 ba · 1,080 sqft · SingleFamily · 11 Days on market

Built 1940 10,798 sqft lot Est $90k · 33% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Own instead of Renting or buy it for a Rental. Priced right either way. Inside needs some work but there has been alot already done. Nice Heated Pool and Fenced back yard area.

Key facts

• Walk-in closet
• Large backyard
• Multiple patio areas

Tags

• ENCLOSED FRONT PORCH
• LARGE BACKYARD
• MULTIPLE PATIO AREAS
• WALK-IN CLOSET
• MAIN-FLOOR LAUNDRY
• CENTRAL AIR CONDITIONING

Property features AI

Finance

• Other: Living area estimated at 750; Lot dimensions approximately 60 x 150; Road frontage on a city street with asphalt and chip-and-seal surface
• Financial info: Lease not considered
• HOA & community: No association (N/A); Community features include park, playground, and street lights

Exterior

• Parking: Driveway; Gravel parking; Off-street parking
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Single-phase electric; Electricity connected; Natural gas connected; Water available
• Home design: Single-family residence; One level; House; Private ownership
• Construction: Frame construction with vinyl siding; Architectural shingle roof; Combination foundation; Estimated year built
• Exterior features: Enclosed front porch; Patio; Garden; Private yard; Storage shed(s); Fenced backyard with wood privacy fence; Some trees; Level, rectangular lot; Front yard; Back yard; Panel doors

Interior

• Kitchen: Eat-in kitchen; Range; Dishwasher
• Bedrooms: 3 bedrooms on the main level; Walk-in closet in one bedroom; Spacious bedroom with large mirrored closet; Bedroom with attic access and circuit breaker access
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom with tub/shower combo
• Heating & cooling: Electric forced-air heat; Central air conditioning
• Interior features: Eat-in kitchen; Walk-in closet(s); Insulated windows; Smoke detector(s)
• Laundry & utility: Main-level laundry room with washer and electric dryer included; Utility room

What this means for you Summary

Snapshot

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

Deal economics

• At list price, monthly cash flow is $343 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($972 rent vs $60k).

Location & tenants

• Location reads 63/100 on livability (#787 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.
• Market conditions: 14 active listings in the ZIP; 70 units permitted in Macoupin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $414 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Macoupin County population projected at -27% 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 ~5 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 12y 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 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $59,900

Questions for the listing agent

1. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.62% ✓
• Cap rate: 13.16%
• Cash-on-cash: 24.52%
• DSCR: 2.09
• GRM: 5.1

CMA / ARV

• ARV (on-the-fly): $89,640
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
218 E Jefferson St	0.16mi	2/1.5 (-1)	1,100 (+2%)	1mo	$20,000	$18	82
111 W Washington St	0.30mi	3/2.0	1,068 (-1%)	19mo	$105,000	$98	64
214 N Harrison St	0.10mi	2/1.0 (-1)	956 (-12%)	14mo	$79,000	$83	60
123 S 6th St	0.68mi	2/1.0 (-1)	1,100 (+2%)	4mo	$110,000	$100	56
214 S Sherman St	0.32mi	2/1.0 (-1)	936 (-13%)	6mo	$65,000	$69	52
230 E Center St	0.22mi	3/2.0	1,220 (+13%)	20mo	$65,100	$53	48

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: 17.9%
• Equity multiple: 1.72×
• Total profit: $12,142
• Equity at exit: $8,931

10-year hold

• IRR: 26.3%
• Equity multiple: 3.31×
• Total profit: $38,766
• Equity at exit: $5,179

Cash invested: $16,772 (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 62640

• Home prices YoY: -17.8%
• Active inventory: 14
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $972 medium
• Mortgage (P&I): −$314
• Tax from tax record: −$86 /mo · $1,035/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$204
• Net cashflow: $343

Break-even live

Break-even rent $538

Max offer price $59,900

Occupancy floor 60%

Sensitivity live

Price	-10% $377	-5% $360	+0% $343	+5% $326	+10% $309
Rent	-10% $266	-5% $304	+0% $343	+5% $381	+10% $419
Rate	-1.0pp $373	-0.5pp $358	base $343	+0.5pp $327	+1.0pp $311

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-18
   days on market $59,900 Active 11 DOM
2. 2026-06-17
   days on market $59,900 Active 10 DOM
3. 2026-06-16
   days on market $59,900 Active 9 DOM
4. 2026-06-15
   days on market $59,900 Active 8 DOM
5. 2026-06-13
   days on market $59,900 Active 6 DOM
6. 2026-06-12
   days on market $59,900 Active 5 DOM
7. 2026-06-09
   days on market $59,900 Active 2 DOM
8. 2026-06-08
   remarks 681-char remark
9. 2026-06-08
   listed $59,900 Active 1 DOM

ⓘ 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: $1,035 · $86/mo
• Projected year-2 tax: $1,197 · $100/mo
• Expected delta: +$163/yr (+$14/mo · 15.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major 74% 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 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,666
• − Mortgage interest: −$3,355
• − Property taxes: −$1,035
• − Insurance: −$300
• − Repairs & maintenance: −$933
• − Management: −$933
• − Depreciation: −$1,743
• Taxable income: $3,367
• Est. tax owed @ 24.0%: −$808
• After-tax cash flow: $3,304/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 — Girard

• Score: 63/100
• State rank: #787
• US rank: #15695

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Girard, IL
• Population (ZIP): 3,342

Population outlook (Macoupin County) Hauer SSP2

• Today (2025): 42,867 people
• By 2030: 40,796 · -4.8%
• By 2040: 36,135 · -15.7%
• By 2050: 31,469 · -26.6%
• By 2075: 22,102 · -48.4%
• By 2100: 15,380 · -64.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 5% Hispanic / Latino 1%
• Common ancestry: Lithuanian 4% Romanian 3% Iranian 3%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Macoupin

• 2024 margin: Solid R (+39.2) · D 29.4% · R 68.7% · Other 1.9%
• 2008→2024 swing: -49.0pp toward R · 2008: 9.8pp · 2024: -39.2pp
• All cycles: 2024: R+39.2 2020: R+36.5 2016: R+35.0 2012: R+7.0 2008: D+9.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -39.96%
• Current HPI: 185.0228
• 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

+71.6% since first listed

6 events — show timeline

• 2026-06-08 Listed $59,900 MARIS as Distributed by MLS Grid
• 2026-06-08 Coming Soon $59,900 MARIS as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2015-03-20 Sold (MLS) — RMLSA as Distributed by MLS Grid
• 2015-03-01 Sold (Public Records) $30,000 Public Records
• 2014-08-26 Listed $34,900 RMLSA as Distributed by MLS Grid

Property tax history

+11.5%/yr

Latest (2024): $1,035 · +4.4% YoY. Source: county tax records.