81 W 3rd St · Dallas City, IL 62330

$52,900

3 bd · 1.0 ba · 1,582 sqft · SingleFamily · 521 Days on market

Built 1880 6,098 sqft lot $33/sqft · 38% below area Est $85k · 38% under ↓ 17% since listing

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Why this score? — see what drove the A- 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
• Appreciation +5.2/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

Minimal updating needed on this 2 story home located in Dallas City!! This is a solid home that just needs some cosmetic touches to make it your own. There is an inviting open front porch that leads into the main level of the home where you'll find a living room, kitchen/dining room, 2 bedrooms, and a full bath. The upper level offers an additional bedroom/den with a good sized attic area for storage and a landing at the top of the stairway. There is an unfinished/partial basement where you'll find the laundry area. Appliances to convey include a microwave, NG cooktop, built-in oven, and a washer in the basement. A partially fenced in back yard includes a 10 x 12 storage shed and a 22 x 24 detached garage. This home will be selling in "AS IS" condition.

Key facts

• Laundry area
• Good sized attic
• Storage shed

Tags

• OPEN FRONT PORCH
• GOOD SIZED ATTIC
• UNFINISHED PARTIAL BASEMENT
• LAUNDRY AREA
• PARTIALLY FENCED BACK YARD
• STORAGE SHED

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $53k.

Deal economics

• At list price, monthly cash flow is $454 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $53k).
• Recommended offer: $47k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#549 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, employment D+, schools F.
• Illini West H S District 307 (town): math 25% / reading 25% proficiency, ranked #611 of 919 in IL (top 66%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 17 active listings in the ZIP.

Forward outlook

• In year one you build about $567 of equity ($366 loan paydown + $201 appreciation (0.4% local appreciation)).
• Hancock County population projected at -30% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.4% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 521 days — a 12% lower offer ($47k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $7k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 4.0% of price; built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $46,552 (12.0% below list)

Questions for the listing agent

1. It's been on market 521 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 1880 — 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. 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.
8. 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.
9. 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: 16.59%
• Cash-on-cash: 36.79%
• DSCR: 2.64
• GRM: 3.7

CMA / ARV

• ARV (median comp): $84,684
• List price: $52,900
• Delta: -41.07%
• Verdict: UNDERPRICED
• Comps: 18 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
491 Cedar St	0.12mi	2/1.0 (-1)	1,437 (-9%)	2mo	$147,000	$102	72
810 Oak St	0.31mi	3/2.0	1,600 (+1%)	15mo	$225,000	$141	68
131 W 4th St	0.08mi	4/1.5 (+1)	1,771 (+12%)	11mo	$123,000	$69	60

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

Projected returns pro-forma

0.38% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 38.4%
• Equity multiple: 2.92×
• Total profit: $28,411
• Equity at exit: $16,371

10-year hold

• IRR: 41.1%
• Equity multiple: 5.75×
• Total profit: $70,362
• Equity at exit: $20,504

Cash invested: $14,812 (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 62330

• Home prices YoY: 0.3%
• Active inventory: 17
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,178 medium
• Mortgage (P&I): −$277
• Tax from tax record: −$177 /mo · $2,121/yr
• Insurance: −$22
• HOA: −$0
• Vacancy / Maint / Mgmt: −$247
• Net cashflow: $454

Break-even live

Break-even rent $603

Max offer price $52,900

Occupancy floor 56%

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: $13,225
• Closing costs: $1,587
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-19
   days on market $52,900 Active 521 DOM
2. 2026-06-18
   days on market $52,900 Active 520 DOM
3. 2026-06-17
   days on market $52,900 Active 519 DOM
4. 2026-06-16
   days on market $52,900 Active 518 DOM
5. 2026-06-15
   days on market $52,900 Active 517 DOM
6. 2026-06-13
   days on market $52,900 Active 515 DOM
7. 2026-06-12
   pricedays on marketlisting id $52,900 Active 514 DOM
8. 2026-06-09
   days on market $49,900 Active 511 DOM
9. 2026-06-08
   days on market $49,900 Active 510 DOM
10. 2026-06-07
    days on market $49,900 Active 509 DOM
11. 2026-06-07
    days on market $49,900 Active 508 DOM
12. 2026-06-05
    days on market $49,900 Active 507 DOM
13. 2026-06-03
    days on market $49,900 Active 505 DOM
14. 2026-06-02
    days on market $49,900 Active 504 DOM
15. 2026-06-01
    days on market $49,900 Active 503 DOM
16. 2026-05-31
    days on market $49,900 Active 502 DOM
17. 2026-05-30
    days on market $49,900 Active 501 DOM
18. 2026-01-09
    price $49,900 782-char remark

    Show marketing remark (782 chars)

    Minimal updating needed on this 2 story home located in Dallas City!! This is a solid home that just needs some cosmetic touches to make it your own. There is an inviting open front porch that leads into the main level of the home where you'll find a living room, kitchen/dining room, 2 bedrooms, and a full bath. The upper level offers an additional bedroom/den with a good sized attic area for storage and a landing at the top of the stairway. There is an unfinished/partial basement where you'll find the laundry area. Appliances to convey include a microwave, NG cooktop, built-in oven, and a washer in the basement. A partially fenced in back yard includes a 10 x 12 storage shed and a 22 x 24 detached garage. This home will be selling in "AS IS" condition.

19. 2025-11-03
    price $52,900 774-char remark

    Show marketing remark (782 chars)

    Minimal updating needed on this 2 story home located in Dallas City!! This is a solid home that just needs some cosmetic touches to make it your own. There is an inviting open front porch that leads into the main level of the home where you'll find a living room, kitchen/dining room, 2 bedrooms, and a full bath. The upper level offers an additional bedroom/den with a good sized attic area for storage and a landing at the top of the stairway. There is an unfinished/partial basement where you'll find the laundry area. Appliances to convey include a microwave, NG cooktop, built-in oven, and a washer in the basement. A partially fenced in back yard includes a 10 x 12 storage shed and a 22 x 24 detached garage. This home will be selling in "AS IS" condition.

20. 2025-11-03
    price $52,900 782-char remark

    Show marketing remark (782 chars)

    Minimal updating needed on this 2 story home located in Dallas City!! This is a solid home that just needs some cosmetic touches to make it your own. There is an inviting open front porch that leads into the main level of the home where you'll find a living room, kitchen/dining room, 2 bedrooms, and a full bath. The upper level offers an additional bedroom/den with a good sized attic area for storage and a landing at the top of the stairway. There is an unfinished/partial basement where you'll find the laundry area. Appliances to convey include a microwave, NG cooktop, built-in oven, and a washer in the basement. A partially fenced in back yard includes a 10 x 12 storage shed and a 22 x 24 detached garage. This home will be selling in "AS IS" condition.

21. 2025-07-08
    price $57,900 782-char remark

    Show marketing remark (774 chars)

    Minimal updating needed on this 2 story home located in Dallas City!! This is a solid home that just needs some cosmetic touches to make it your own. There is an inviting open front porch that leads into the main level of the home where you'll find a living room, kitchen/dining room, 2 bedrooms, and a full bath. The upper level offers an additional bedroom/den with a good sized attic area for storage and a landing at the top of the stairway. There is an unfinished/partial basement where you'll find the laundry area. Appliances to convey include a microwave, NG cooktop, built-in oven, and a washer in the basement. A partially fenced in back yard includes a 10 x 12 storage shed and a 22 x 24 detached garage. This home will be selling in "AS IS" condition.

22. 2025-07-08
    price $57,900 774-char remark

    Show marketing remark (774 chars)

    Minimal updating needed on this 2 story home located in Dallas City!! This is a solid home that just needs some cosmetic touches to make it your own. There is an inviting open front porch that leads into the main level of the home where you'll find a living room, kitchen/dining room, 2 bedrooms, and a full bath. The upper level offers an additional bedroom/den with a good sized attic area for storage and a landing at the top of the stairway. There is an unfinished/partial basement where you'll find the laundry area. Appliances to convey include a microwave, NG cooktop, built-in oven, and a washer in the basement. A partially fenced in back yard includes a 10 x 12 storage shed and a 22 x 24 detached garage. This home will be selling in "AS IS" condition.

23. 2025-01-14
    listed $59,900 Active 774-char remark

    Show marketing remark (782 chars)

    Minimal updating needed on this 2 story home located in Dallas City!! This is a solid home that just needs some cosmetic touches to make it your own. There is an inviting open front porch that leads into the main level of the home where you'll find a living room, kitchen/dining room, 2 bedrooms, and a full bath. The upper level offers an additional bedroom/den with a good sized attic area for storage and a landing at the top of the stairway. There is an unfinished/partial basement where you'll find the laundry area. Appliances to convey include a microwave, NG cooktop, built-in oven, and a washer in the basement. A partially fenced in back yard includes a 10 x 12 storage shed and a 22 x 24 detached garage. This home will be selling in "AS IS" condition.

24. 2025-01-14
    listed $59,900 Active 782-char remark

    Show marketing remark (782 chars)

    Minimal updating needed on this 2 story home located in Dallas City!! This is a solid home that just needs some cosmetic touches to make it your own. There is an inviting open front porch that leads into the main level of the home where you'll find a living room, kitchen/dining room, 2 bedrooms, and a full bath. The upper level offers an additional bedroom/den with a good sized attic area for storage and a landing at the top of the stairway. There is an unfinished/partial basement where you'll find the laundry area. Appliances to convey include a microwave, NG cooktop, built-in oven, and a washer in the basement. A partially fenced in back yard includes a 10 x 12 storage shed and a 22 x 24 detached garage. This home will be selling in "AS IS" condition.

ⓘ 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: $2,121 · $177/mo
• Projected year-2 tax: $2,121 · $177/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 3/10 Moderate FEMA zone X (unshaded) · 10% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,131
• − Mortgage interest: −$2,963
• − Property taxes: −$2,121
• − Insurance: −$264
• − Repairs & maintenance: −$1,130
• − Management: −$1,130
• − Depreciation: −$1,539
• Taxable income: $4,983
• Est. tax owed @ 24.0%: −$1,196
• After-tax cash flow: $4,254/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: Illini West H S District 307
• NCES district ID: 1701384
• Math proficiency: 25% ▲ 5.00%
• Reading proficiency: 25% ▲ 5.00%
• Median HH income: $47,745
• Composite: 24.88/100
• National rank: #12997
• State rank: #611 of 919 in IL

Livability — Dallas City

• Score: 66/100
• State rank: #549
• US rank: #11621

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dallas City, IL
• Population (ZIP): 1,548

Population outlook (Hancock County) Hauer SSP2

• Today (2025): 17,042 people
• By 2030: 16,056 · -5.8%
• By 2040: 13,912 · -18.4%
• By 2050: 11,879 · -30.3%
• By 2075: 8,302 · -51.3%
• By 2100: 5,846 · -65.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 6% Two or more races 3%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Lithuanian 4% Italian 2% Iranian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 4%

Political lean MEDSL · Hancock

• 2024 margin: Solid R (+50.0) · D 24.1% · R 74.1% · Other 1.8%
• 2008→2024 swing: -39.2pp toward R · 2008: -10.8pp · 2024: -50.0pp
• All cycles: 2024: R+50.0 2020: R+48.9 2016: R+50.8 2012: R+19.0 2008: R+10.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.38%
• Current HPI: 133.3962
• 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

-16.7% since first listed

7 events — show timeline

• 2026-01-09 Price Changed $49,900 MRED as Distributed by MLS Grid
• 2025-11-03 Price Changed $52,900 Quincy AOR
• 2025-11-03 Price Changed $52,900 MRED as Distributed by MLS Grid
• 2025-07-08 Price Changed $57,900 MRED as Distributed by MLS Grid
• 2025-07-08 Price Changed $57,900 Quincy AOR
• 2025-01-14 Listed $59,900 Quincy AOR
• 2025-01-14 Listed $59,900 MRED as Distributed by MLS Grid

Property tax history

+4.6%/yr

Latest (2024): $2,121 · +5.1% YoY. Source: county tax records.