15 Homestead Dr · Mount Vernon, IL 62864

$150,000

3 bd · 1.5 ba · 1,588 sqft · SingleFamily · 6 Days on market

Built 1960 0.55 ac lot Est $173k · 13% under ↓ 4% since listing

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Why this score? — see what drove the D+ 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 +16.8/30.0
• ARV discount +13.5/15.0
• DSCR +5.2/10.0
• 1% rule +3.7/10.0
• 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

Opportunity Awaits in This Spacious Ranch Home! This charming brick and vinyl ranch offers great curb appeal with a large covered front porch, wide paved driveway, attached garage, and a spacious backyard designed for outdoor enjoyment. Whether you're hosting gatherings around the fire pit, letting pets roam in the fenced dog pen, or simply relaxing outdoors, there's plenty of room to enjoy. Inside, you'll find a comfortable living room filled with natural light from large windows and featuring a fireplace that has been capped and is no longer functional. The home offers an informal dining area that flows into the generously sized kitchen, complete with warm wood cabinetry, possible coffee

Key facts

• Covered front porch
• Spacious backyard
• Fenced dog pen

Tags

• COVERED FRONT PORCH
• PAVED DRIVEWAY
• SPACIOUS BACKYARD
• FIRE PIT
• FENCED DOG PEN
• INFORMAL DINING AREA

Property features AI

Finance

• Other: Property not rebuilt or rehabbed; Built before 1978
• HOA & community: No master association fee required

Exterior

• Parking: Attached garage (1 garage space); Total parking for 4 vehicles
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; One-story design; Fee simple ownership
• Construction: Built approximately 61–70 years ago; Vinyl siding and brick exterior
• Exterior features: Half-acre lot approximately (200 x 120)

Interior

• Kitchen: Kitchen on the main level (14 x 12) with laminate flooring
• Bedrooms: Master bedroom on the main level (14 x 13) with laminate flooring; Bedroom on the main level (11 x 14) with laminate flooring; Bedroom on the main level (12 x 11) with carpet
• Flooring: Laminate flooring in living areas, kitchen, some bedrooms and dining room; Carpet in family room and at least one bedroom
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Seven total rooms; Crawl space basement
• Laundry & utility: Main-level laundry room (12 x 6) with laminate flooring

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $97 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $131k (12.9% below list).
• Recommended offer: $131k (12.9% below list) — sets the bar for 1% rule.
• Cap rate 7.1% vs local median 5.2% 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: amenities F, commute F, employment 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.
• Zoned schools: Dr Nick Osborne Primary Center (math 8% / reading 12%, grade F, #1,517 of 2,056 statewide, top 78%, 600 students, 0% FRL); Zadok Casey Middle School (math 6% / reading 10%, grade F, #608 of 665 statewide, top 92%, 419 students, 0% FRL); Mount Vernon High School (math 13% / reading 16%, grade F, #479 of 693 statewide, top 71%, 1,210 students, 0% FRL).
• Market conditions: 193 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 $1k of loan paydown is wiped out by about $4k 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.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $130,711 (12.9% below list)

Questions for the listing agent

1. Built in 1960 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
5. 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.
6. 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.
7. 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: 0.87% ✗
• Cap rate: 7.07%
• Cash-on-cash: 2.77%
• DSCR: 1.12
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $173,092
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10 Edgewood Rd	0.12mi	3/1.5	1,564 (-2%)	3mo	$178,000	$114	89
6 Brookhaven Dr	0.32mi	3/2.0	1,620 (+2%)	1mo	$280,000	$173	78
2 Linnview Dr	0.25mi	3/2.0	1,650 (+4%)	2mo	$183,500	$111	78
9 Homestead Dr	0.04mi	3/1.5	1,432 (-10%)	8mo	$124,500	$87	75
16 Turner Dr	0.44mi	3/2.0	1,560 (-2%)	21mo	$115,500	$74	57
16 Turner Dr	0.44mi	3/2.0	1,560 (-2%)	21mo	$115,500	$74	57
2 Lincoln Dr	0.74mi	4/2.0 (+1)	1,600 (+1%)	0mo	$212,000	$133	57
9087 N Taft Ln	0.46mi	3/2.0	1,456 (-8%)	16mo	$150,000	$103	50
1020 N 18th St	0.71mi	3/2.5	1,709 (+8%)	2mo	$185,500	$109	49
13 N Highland Pl E	0.32mi	3/2.0	1,796 (+13%)	20mo	$224,500	$125	44
14495 Old Centralia Ln	0.46mi	3/2.0	1,794 (+13%)	17mo	$175,000	$98	41
1009 Wilshire Dr	0.70mi	3/1.0	1,390 (-12%)	20mo	$124,500	$90	28

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: -12.0%
• Equity multiple: 0.57×
• Total profit: $-18,184
• Equity at exit: $22,365

10-year hold

• IRR: -2.9%
• Equity multiple: 0.81×
• Total profit: $-8,068
• Equity at exit: $12,969

Cash invested: $42,000 (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 62864

• Active inventory: 193
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,307 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$87 /mo · $1,041/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$274
• Net cashflow: $97

Break-even live

Break-even rent $1,185

Max offer price $150,000

Occupancy floor 88%

Sensitivity live

Price	-10% $182	-5% $139	+0% $97	+5% $54	+10% $12
Rent	-10% $-6	-5% $45	+0% $97	+5% $148	+10% $200
Rate	-1.0pp $172	-0.5pp $135	base $97	+0.5pp $58	+1.0pp $18

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-15
   days on market $150,000 Active 6 DOM
2. 2026-06-13
   days on market $150,000 Active 4 DOM
3. 2026-06-12
   remarks 699-char remark
4. 2026-06-12
   listed $150,000 Active 3 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: $1,041 · $87/mo
• Projected year-2 tax: $2,223 · $185/mo
• Expected delta: +$1,182/yr (+$99/mo · 113.6%)

ⓘ 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 ≥105°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: $15,685
• − Mortgage interest: −$8,402
• − Property taxes: −$1,041
• − Insurance: −$750
• − Repairs & maintenance: −$1,255
• − Management: −$1,255
• − Depreciation: −$4,364
• Taxable loss: −$1,381
• Est. tax savings @ 24.0%: +$331
• After-tax cash flow: $1,493/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

-4.0% since first listed

2 events — show timeline

• 2026-06-09 Listed $150,000 MRED as Distributed by MLS Grid
• 2024-08-30 Sold (Public Records) $156,300 Public Records

Property tax history

-0.7%/yr

Latest (2024): $1,041 · -55.2% YoY. Source: county tax records.