423 N 14th · Quincy, IL 62301

$156,900

3 bd · 2.0 ba · 2,646 sqft · SingleFamily · 77 Days on market

Built 1902 0.30 ac lot $59/sqft · 18% below area Est $191k · 18% 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
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• Rent growth +5.0/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

If it's ample space you desire, this move-in-ready 3 bedroom (with a non-conforming 4th) 2 bath home delivers! On the main level you will find a massive living room, formal dinning room, primary bedroom, and stunning updated bathroom with a beautiful original stained glass window. Walk upstairs to find a 38'x 12' bedroom with its own full bath, or downstairs to find yet another open living area complete with bedroom #3 and office or non-conforming 4th bedroom. There is zero shortage of space and comfort in this 2,600+ sqft of livable space cozy home and is an in-person must see property. Set up your showing today & see for yourself!

Key facts

• Massive living room
• Formal dining room
• Open living area

Tags

• MASSIVE LIVING ROOM
• FORMAL DINING ROOM
• STUNNING UPDATED BATHROOM
• ORIGINAL STAINED GLASS WINDOW
• OPEN LIVING AREA

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $157k.

Deal economics

• At list price, monthly cash flow is $597 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $157k).
• Recommended offer: $147k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.9% vs local median 4.3% in Quincy — 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 67/100 on livability (#506 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D, employment D, amenities D-.
• Quincy SD 172 (town): math 24% / reading 27% proficiency, ranked #328 of 620 in IL (top 53%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Colonel George Iles Elem Sch (math 29% / reading 29%, grade F, #727 of 2,056 statewide, top 36%, 519 students, 0% FRL); Quincy Jr High School (math 25% / reading 30%, grade F, #295 of 665 statewide, top 45%, 1,348 students, 0% FRL); Quincy Sr High School (math 21% / reading 28%, grade F, #256 of 693 statewide, top 44%, 1,924 students, 0% FRL) — zoned schools average 0% FRL vs 48% district-wide (48 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+10.8%/yr); 184 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 68 units permitted in Adams County in 2024 (0 in 5+ unit buildings).
• At $2,084/mo this rent would consume 48% of the median local household income ($52k/yr) (locally 1238% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Adams County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $44k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($147k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 10y 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 $75k; list at $157k implies a 109% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1902 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $147,486 (6.0% below list)

Questions for the listing agent

1. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1902 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 1.33% ✓
• Cap rate: 10.86%
• Cash-on-cash: 16.30%
• DSCR: 1.73
• GRM: 6.3

CMA / ARV

• ARV (median comp): $190,693
• List price: $156,900
• Delta: -17.72%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1430 College	0.21mi	4/1.5 (+1)	2,447 (-8%)	1mo	$189,900	$78	70
420 N 16th St	0.20mi	3/2.0	2,694 (+2%)	22mo	$180,000	$67	69
1317 State St	0.66mi	3/3.0	2,633 (-0%)	14mo	$261,000	$99	53
1626 Kentucky St	0.65mi	4/2.0 (+1)	2,767 (+5%)	8mo	$227,000	$82	51
110 West Ave	0.65mi	4/1.5 (+1)	2,436 (-8%)	2mo	$250,000	$103	47
728 N 22nd St	0.75mi	3/1.5	2,468 (-7%)	12mo	$176,500	$72	42
2133 Hampshire St	0.69mi	2/2.0 (-1)	2,292 (-13%)	1mo	$180,000	$79	40
1604 State St	0.74mi	3/2.0	2,265 (-14%)	3mo	$185,000	$82	39
2140 Hampshire St	0.72mi	3/2.0	2,465 (-7%)	22mo	$199,000	$81	37
1874 Grove Ave	0.74mi	4/1.5 (+1)	2,868 (+8%)	18mo	$272,000	$95	30
822 N 6th	0.75mi	4/2.5 (+1)	3,033 (+15%)	12mo	$165,000	$54	24

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 12.8%
• Equity multiple: 1.54×
• Total profit: $23,612
• Equity at exit: $23,394

10-year hold

• IRR: 25.2%
• Equity multiple: 3.72×
• Total profit: $119,671
• Equity at exit: $13,566

Cash invested: $43,932 (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 62301

• Rents YoY: 10.8%
• Active inventory: 184
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $2,084 medium
• Mortgage (P&I): −$823
• Tax from tax record: −$161 /mo · $1,932/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$438
• Net cashflow: $597

Break-even live

Break-even rent $1,328

Max offer price $156,900

Occupancy floor 66%

Sensitivity live

Price	-10% $686	-5% $641	+0% $597	+5% $552	+10% $508
Rent	-10% $432	-5% $515	+0% $597	+5% $679	+10% $761
Rate	-1.0pp $676	-0.5pp $637	base $597	+0.5pp $556	+1.0pp $515

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: $39,225
• Closing costs: $4,707
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
201 S 8th St Quincy, IL	2.0	2.5	1785	$1,800	$1.01	46d	1	0.62mi
116 N 3rd St Quincy, IL	1.0–4.0	1.0–2.0	1950	$4,333	$2.22	46d	12	0.96mi

Listing history 31 events

1. 2026-06-22
   days on market $156,900 Active 77 DOM
2. 2026-06-19
   days on market $156,900 Active 74 DOM
3. 2026-06-18
   days on market $156,900 Active 73 DOM
4. 2026-06-17
   days on market $156,900 Active 72 DOM
5. 2026-06-16
   days on market $156,900 Active 71 DOM
6. 2026-06-15
   days on market $156,900 Active 70 DOM
7. 2026-06-14
   days on market $156,900 Active 68 DOM
8. 2026-06-12
   days on market $156,900 Active 67 DOM
9. 2026-06-09
   days on market $156,900 Active 64 DOM
10. 2026-06-09
    listing id $156,900 Active 63 DOM
11. 2026-06-08
    days on market $156,900 Active 63 DOM
12. 2026-06-07
    days on market $156,900 Active 62 DOM
13. 2026-06-03
    days on market $156,900 Active 58 DOM
14. 2026-06-02
    days on market $156,900 Active 57 DOM
15. 2026-06-01
    days on market $156,900 Active 56 DOM
16. 2026-05-31
    days on market $156,900 Active 55 DOM
17. 2026-05-30
    days on market $156,900 Active 54 DOM
18. 2026-05-19
    historical Active Under Contract 644-char remark

    Show marketing remark (644 chars)

    If it's ample space you desire, this move-in-ready 3 bedroom (with a non-conforming 4th) 2 bath home delivers! On the main level you will find a massive living room, formal dinning room, primary bedroom, and stunning updated bathroom with a beautiful original stained glass window. Walk upstairs to find a 38'x 12' bedroom with its own full bath, or downstairs to find yet another open living area complete with bedroom #3 and office or non-conforming 4th bedroom. There is zero shortage of space and comfort in this 2,600+ sqft of livable space cozy home and is an in-person must see property. Set up your showing today & see for yourself!

19. 2026-05-19
    historical Contingent - Continue to Show 644-char remark

    Show marketing remark (644 chars)

    If it's ample space you desire, this move-in-ready 3 bedroom (with a non-conforming 4th) 2 bath home delivers! On the main level you will find a massive living room, formal dinning room, primary bedroom, and stunning updated bathroom with a beautiful original stained glass window. Walk upstairs to find a 38'x 12' bedroom with its own full bath, or downstairs to find yet another open living area complete with bedroom #3 and office or non-conforming 4th bedroom. There is zero shortage of space and comfort in this 2,600+ sqft of livable space cozy home and is an in-person must see property. Set up your showing today & see for yourself!

20. 2026-04-23
    price $156,900 644-char remark

    Show marketing remark (644 chars)

    If it's ample space you desire, this move-in-ready 3 bedroom (with a non-conforming 4th) 2 bath home delivers! On the main level you will find a massive living room, formal dinning room, primary bedroom, and stunning updated bathroom with a beautiful original stained glass window. Walk upstairs to find a 38'x 12' bedroom with its own full bath, or downstairs to find yet another open living area complete with bedroom #3 and office or non-conforming 4th bedroom. There is zero shortage of space and comfort in this 2,600+ sqft of livable space cozy home and is an in-person must see property. Set up your showing today & see for yourself!

21. 2026-04-23
    price $156,900 644-char remark

    Show marketing remark (644 chars)

    If it's ample space you desire, this move-in-ready 3 bedroom (with a non-conforming 4th) 2 bath home delivers! On the main level you will find a massive living room, formal dinning room, primary bedroom, and stunning updated bathroom with a beautiful original stained glass window. Walk upstairs to find a 38'x 12' bedroom with its own full bath, or downstairs to find yet another open living area complete with bedroom #3 and office or non-conforming 4th bedroom. There is zero shortage of space and comfort in this 2,600+ sqft of livable space cozy home and is an in-person must see property. Set up your showing today & see for yourself!

22. 2026-04-06
    listed $159,700 Active 644-char remark

    Show marketing remark (644 chars)

    If it's ample space you desire, this move-in-ready 3 bedroom (with a non-conforming 4th) 2 bath home delivers! On the main level you will find a massive living room, formal dinning room, primary bedroom, and stunning updated bathroom with a beautiful original stained glass window. Walk upstairs to find a 38'x 12' bedroom with its own full bath, or downstairs to find yet another open living area complete with bedroom #3 and office or non-conforming 4th bedroom. There is zero shortage of space and comfort in this 2,600+ sqft of livable space cozy home and is an in-person must see property. Set up your showing today & see for yourself!

23. 2026-04-06
    listed $159,700 Active 644-char remark

    Show marketing remark (644 chars)

    If it's ample space you desire, this move-in-ready 3 bedroom (with a non-conforming 4th) 2 bath home delivers! On the main level you will find a massive living room, formal dinning room, primary bedroom, and stunning updated bathroom with a beautiful original stained glass window. Walk upstairs to find a 38'x 12' bedroom with its own full bath, or downstairs to find yet another open living area complete with bedroom #3 and office or non-conforming 4th bedroom. There is zero shortage of space and comfort in this 2,600+ sqft of livable space cozy home and is an in-person must see property. Set up your showing today & see for yourself!

24. 2022-09-27
    historical
25. 2017-05-25
    soldstatus $75,000
26. 2017-05-25
    soldstatus $75,000
27. 2017-05-25
    soldstatus $75,000
28. 2016-10-22
    listed $79,900
29. 2016-10-22
    listed $79,900
30. 2016-10-22
    listed $79,900
31. 2016-10-22
    historical

ⓘ 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: $1,932 · $161/mo
• Projected year-2 tax: $2,747 · $229/mo
• Expected delta: +$815/yr (+$68/mo · 42.2%)

ⓘ 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 ≥106°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: $25,004
• − Mortgage interest: −$8,789
• − Property taxes: −$1,932
• − Insurance: −$784
• − Repairs & maintenance: −$2,000
• − Management: −$2,000
• − Depreciation: −$4,564
• Taxable income: $4,933
• Est. tax owed @ 24.0%: −$1,184
• After-tax cash flow: $5,979/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: Quincy SD 172
• NCES district ID: 1733000
• Math proficiency: 24% ▬ 0.00%
• Reading proficiency: 27% ▬ 0.00%
• Median HH income: $44,132
• Composite: 21.91/100
• National rank: #8229
• State rank: #328 of 620 in IL

Livability — Quincy

• Score: 67/100
• State rank: #506
• US rank: #10458

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Quincy, IL
• County: Adams County · 30,746 people
• City population: 30,746
• Metro: Quincy, IL-MO
• Population (ZIP): 30,746
• Household income: $52,055
• Rent vs Own: 41.1% rent · 58.9% own
• Severe rent burden: 1238.0

Population outlook (Adams County) Hauer SSP2

• Today (2025): 65,795 people
• By 2030: 64,436 · -2.1%
• By 2040: 61,007 · -7.3%
• By 2050: 56,851 · -13.6%
• By 2075: 46,424 · -29.4%
• By 2100: 34,305 · -47.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 7% Black 6% Hispanic / Latino 3% Asian 1%
• Common ancestry: Slovak 2% Iranian 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Adams

• 2024 margin: Solid R (+47.4) · D 25.6% · R 73.0% · Other 1.5%
• 2008→2024 swing: -25.0pp toward R · 2008: -22.4pp · 2024: -47.4pp
• All cycles: 2024: R+47.4 2020: R+46.5 2016: R+47.5 2012: R+35.2 2008: R+22.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -121.44%
• Current HPI: 131.7344
• Rent YoY: ▲ 10.78%
• Metro: Quincy, IL-MO
• 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

+96.4% since first listed

14 events — show timeline

• 2026-05-19 Contingent — MARIS as Distributed by MLS Grid
• 2026-05-19 Contingent — MRED as Distributed by MLS Grid
• 2026-04-23 Price Changed $156,900 MRED as Distributed by MLS Grid
• 2026-04-23 Price Changed $156,900 MARIS as Distributed by MLS Grid
• 2026-04-06 Listed $159,700 MRED as Distributed by MLS Grid
• 2026-04-06 Listed $159,700 MARIS as Distributed by MLS Grid
• 2022-09-27 Listing Removed — RMLSA as Distributed by MLS Grid
• 2017-05-25 Sold (MLS) $75,000 Quincy AOR
• 2017-05-25 Sold (MLS) $75,000 RMLSA as Distributed by MLS Grid
• 2017-05-25 Sold (MLS) $75,000 MRED as Distributed by MLS Grid
• 2016-10-22 Listing Removed — MRED as Distributed by MLS Grid
• 2016-10-22 Listed $79,900 Quincy AOR
• 2016-10-22 Listed $79,900 RMLSA as Distributed by MLS Grid
• 2016-10-22 Listed $79,900 MRED as Distributed by MLS Grid

Property tax history

+2.0%/yr

Latest (2023): $1,932 · +15.0% YoY. Source: county tax records.