525 N Walnut St · Mount Carmel, IL 62863

$49,900

3 bd · 2.0 ba · 1,131 sqft · Other · 53 Days on market

Built 1915 4,792 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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0

Listing remarks MLS

FIXER UPPER with a TON OF POTENTIAL! Centrally located in Mt. Carmel! This home has a ton of curb appeal and just needs some love to bring it back to life. The front of the home features a sprawling, covered front porch. .. perfect for relaxing during those warm Spring Days! A long driveway leads to the homes large, 2 car detached garage. Inside, there is a quaint living room with plenty of light. A hallway leads to the home's downstairs bedroom and oversized kitchen. Just off the kitchen there is a MAIN LEVEL LAUNDRY ROOM! Heading upstairs, buyers will find a large, finished loft with 2 more bedrooms (or 1 bedroom and a rec room), full bathroom and tons of potential! Additional features include: A large unfinished basement, rear concrete patio that overlooks the backyard, a bonus storage shed and SO MUCH MORE! This home is just waiting for someone to make it their own!

Key facts

• Covered front porch
• Finished loft
• Unfinished basement

Tags

• COVERED FRONT PORCH
• MAIN LEVEL LAUNDRY ROOM
• FINISHED LOFT
• UNFINISHED BASEMENT
• REAR CONCRETE PATIO
• BONUS STORAGE SHED

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $50k.

Deal economics

• At list price, monthly cash flow is $439 ($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: $48k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#700 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A; Watch: schools F, amenities F, commute F.
• Wabash CUSD 348 (town): math 14% / reading 20% proficiency, ranked #478 of 620 in IL (top 77%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 18 active listings in the ZIP; 2 units permitted in Wabash County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($345 loan paydown + $5k appreciation (10.0% local appreciation)).
• Wabash County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; built in 1915 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $48,403 (3.0% below list)

Questions for the listing agent

1. It's been on market 53 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 1915 — 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. 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: 2.13% ✓
• Cap rate: 16.86%
• Cash-on-cash: 37.73%
• DSCR: 2.68
• GRM: 3.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 53.4%
• Equity multiple: 4.95×
• Total profit: $55,208
• Equity at exit: $44,954

10-year hold

• IRR: 47.0%
• Equity multiple: 11.07×
• Total profit: $140,674
• Equity at exit: $96,945

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 62863

• Home prices YoY: 10.9%
• Active inventory: 18
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,063 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$118 /mo · $1,417/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$223
• Net cashflow: $439

Break-even live

Break-even rent $507

Max offer price $49,900

Occupancy floor 54%

Sensitivity live

Price	-10% $468	-5% $453	+0% $439	+5% $425	+10% $411
Rent	-10% $355	-5% $397	+0% $439	+5% $481	+10% $523
Rate	-1.0pp $464	-0.5pp $452	base $439	+0.5pp $426	+1.0pp $413

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 4 events

1. 2026-05-12
   status Pending 888-char remark

   Show marketing remark (888 chars)

   FIXER UPPER with a TON OF POTENTIAL! Centrally located in Mt. Carmel! This home has a ton of curb appeal and just needs some love to bring it back to life. The front of the home features a sprawling, covered front porch. .. perfect for relaxing during those warm Spring Days! A long driveway leads to the homes large, 2 car detached garage. Inside, there is a quaint living room with plenty of light. A hallway leads to the home's downstairs bedroom and oversized kitchen. Just off the kitchen there is a MAIN LEVEL LAUNDRY ROOM! Heading upstairs, buyers will find a large, finished loft with 2 more bedrooms (or 1 bedroom and a rec room), full bathroom and tons of potential! Additional features include: A large unfinished basement, rear concrete patio that overlooks the backyard, a bonus storage shed and SO MUCH MORE! This home is just waiting for someone to make it their own!

2. 2026-04-08
   price $49,900 888-char remark

   Show marketing remark (888 chars)

   FIXER UPPER with a TON OF POTENTIAL! Centrally located in Mt. Carmel! This home has a ton of curb appeal and just needs some love to bring it back to life. The front of the home features a sprawling, covered front porch. .. perfect for relaxing during those warm Spring Days! A long driveway leads to the homes large, 2 car detached garage. Inside, there is a quaint living room with plenty of light. A hallway leads to the home's downstairs bedroom and oversized kitchen. Just off the kitchen there is a MAIN LEVEL LAUNDRY ROOM! Heading upstairs, buyers will find a large, finished loft with 2 more bedrooms (or 1 bedroom and a rec room), full bathroom and tons of potential! Additional features include: A large unfinished basement, rear concrete patio that overlooks the backyard, a bonus storage shed and SO MUCH MORE! This home is just waiting for someone to make it their own!

3. 2026-03-25
   price $59,900 888-char remark

   Show marketing remark (888 chars)

   FIXER UPPER with a TON OF POTENTIAL! Centrally located in Mt. Carmel! This home has a ton of curb appeal and just needs some love to bring it back to life. The front of the home features a sprawling, covered front porch. .. perfect for relaxing during those warm Spring Days! A long driveway leads to the homes large, 2 car detached garage. Inside, there is a quaint living room with plenty of light. A hallway leads to the home's downstairs bedroom and oversized kitchen. Just off the kitchen there is a MAIN LEVEL LAUNDRY ROOM! Heading upstairs, buyers will find a large, finished loft with 2 more bedrooms (or 1 bedroom and a rec room), full bathroom and tons of potential! Additional features include: A large unfinished basement, rear concrete patio that overlooks the backyard, a bonus storage shed and SO MUCH MORE! This home is just waiting for someone to make it their own!

4. 2026-03-20
   listed $69,900 Active 888-char remark

   Show marketing remark (888 chars)

   FIXER UPPER with a TON OF POTENTIAL! Centrally located in Mt. Carmel! This home has a ton of curb appeal and just needs some love to bring it back to life. The front of the home features a sprawling, covered front porch. .. perfect for relaxing during those warm Spring Days! A long driveway leads to the homes large, 2 car detached garage. Inside, there is a quaint living room with plenty of light. A hallway leads to the home's downstairs bedroom and oversized kitchen. Just off the kitchen there is a MAIN LEVEL LAUNDRY ROOM! Heading upstairs, buyers will find a large, finished loft with 2 more bedrooms (or 1 bedroom and a rec room), full bathroom and tons of potential! Additional features include: A large unfinished basement, rear concrete patio that overlooks the backyard, a bonus storage shed and SO MUCH MORE! This home is just waiting for someone to make it their own!

ⓘ 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: $1,417 · $118/mo
• Projected year-2 tax: $1,417 · $118/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 5/10 Major 7 d/yr ≥107°F today · 19 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: $12,758
• − Mortgage interest: −$2,795
• − Property taxes: −$1,417
• − Insurance: −$250
• − Repairs & maintenance: −$1,021
• − Management: −$1,021
• − Depreciation: −$1,452
• Taxable income: $4,803
• Est. tax owed @ 24.0%: −$1,153
• After-tax cash flow: $4,119/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: Wabash CUSD 348
• NCES district ID: 1740470
• Math proficiency: 14% ▼ -12.00%
• Reading proficiency: 20% ▼ -20.00%
• Median HH income: $45,869
• Composite: 15.01/100
• National rank: #9359
• State rank: #478 of 620 in IL

Livability — Mount Carmel

• Score: 64/100
• State rank: #700
• US rank: #14280

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mount Carmel, IL
• Population (ZIP): 9,438

Population outlook (Wabash County) Hauer SSP2

• Today (2025): 10,660 people
• By 2030: 10,134 · -4.9%
• By 2040: 9,122 · -14.4%
• By 2050: 8,212 · -23.0%
• By 2075: 6,435 · -39.6%
• By 2100: 4,890 · -54.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 2% Asian 1% Black 1%
• Common ancestry: Lithuanian 2% Slovak 2% Italian 2%
• Foreign-born: 2% · South Korea, Canada
• Languages at home: 97% English-only · Spanish 2% Korean 1%

Political lean MEDSL · Wabash

• 2024 margin: Solid R (+53.8) · D 22.3% · R 76.2% · Other 1.5%
• 2008→2024 swing: -40.1pp toward R · 2008: -13.7pp · 2024: -53.8pp
• All cycles: 2024: R+53.8 2020: R+53.2 2016: R+53.6 2012: R+36.8 2008: R+13.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 27.59%
• Current HPI: 280.61
• 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

4 events — show timeline

• 2026-05-12 Pending — IRMLS
• 2026-04-08 Price Changed $49,900 IRMLS
• 2026-03-25 Price Changed $59,900 IRMLS
• 2026-03-20 Listed $69,900 IRMLS

Property tax history

+10.8%/yr

Latest (2025): $1,417 · +3.6% YoY. Source: county tax records.