405 S 4th St · Effingham, IL 62401

$89,900

1 bd · 2.0 ba · 1,479 sqft · SingleFamily public records · 157 Days on market

Built 1898 0.32 ac lot $61/sqft · 23% below area Est $178k · 50% under

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Why this score? — see what drove the C 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 +18.7/30.0
• ARV discount +15.0/15.0
• 1% rule +7.9/10.0
• DSCR +5.9/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome Home to 405 S. 4th Street! This 2-Story home features 4 Bedrooms/2 Bathrooms, a 1 car detached garage, and approximately 2,268 square feet! This property is eligible under the Freddie Mac First Look Initiative though 2/8/2026. Seller will not complete any repairs to the subject property, either lender or buyer requested. The property is sold in AS IS condition Taxes prorated at 100 precent. EM MUST BE CERTIFIED FUNDS. Info not guaranteed. Seller does not provide survey. Equal Housing Opportunity. AS-IS

Key facts

• 0.32 acre lot
• Garage
• Built 1898

What this means for you Summary

Snapshot

• This is a 1-bed/2.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $90 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.5% vs local median 2.7% in Effingham — 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 78/100 on livability (#140 in IL, #2,564 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D, amenities F.
• Effingham CUSD 40 (town): math 18% / reading 26% proficiency, ranked #387 of 620 in IL (top 62%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 115 active listings in the ZIP; 27 units permitted in Effingham County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Effingham County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 157 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 17y ago; this cycle's ask has dropped $35k (28%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 4.3% of price; built in 1898 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $79,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 157 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 1898 — 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 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?
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: 1.29% ✓
• Cap rate: 7.49%
• Cash-on-cash: 4.27%
• DSCR: 1.19
• GRM: 6.4

CMA / ARV

• ARV (median comp): $178,460
• List price: $89,900
• Delta: -49.62%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
507 E Jefferson Ave	0.35mi	2/1.0 (+1)	1,495 (+1%)	4mo	$107,500	$72	70
508 E Brentwood Ave	0.39mi	2/2.0 (+1)	1,556 (+5%)	7mo	$147,000	$94	62
901 & 903 W Saint Louis Ave	0.71mi	2/1.0 (+1)	1,568 (+6%)	2mo	$170,000	$108	46
915 E Jefferson Ave	0.71mi	2/2.0 (+1)	1,345 (-9%)	4mo	$106,023	$79	44
808 E Gordon Ave	0.60mi	2/1.0 (+1)	1,364 (-8%)	22mo	$150,000	$110	32
904 W Franklin Ave	0.66mi	2/1.0 (+1)	1,260 (-15%)	8mo	$115,000	$91	29

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: -9.4%
• Equity multiple: 0.65×
• Total profit: $-8,718
• Equity at exit: $13,404

10-year hold

• IRR: 0.2%
• Equity multiple: 1.01×
• Total profit: $345
• Equity at exit: $7,773

Cash invested: $25,172 (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 62401

• Home prices YoY: -26.2%
• Active inventory: 115
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,163 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$320 /mo · $3,845/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$244
• Net cashflow: $90

Break-even live

Break-even rent $1,050

Max offer price $89,900

Occupancy floor 87%

Sensitivity live

Price	-10% $140	-5% $115	+0% $90	+5% $64	+10% $39
Rent	-10% $-2	-5% $44	+0% $90	+5% $136	+10% $181
Rate	-1.0pp $135	-0.5pp $112	base $90	+0.5pp $66	+1.0pp $43

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-21
   days on market $89,900 Active 157 DOM
2. 2026-06-18
   days on market $89,900 Active 155 DOM
3. 2026-06-17
   days on market $89,900 Active 154 DOM
4. 2026-06-16
   days on market $89,900 Active 153 DOM
5. 2026-06-15
   days on market $89,900 Active 152 DOM
6. 2026-06-13
   days on market $89,900 Active 150 DOM
7. 2026-06-12
   days on market $89,900 Active 149 DOM
8. 2026-06-09
   days on market $89,900 Active 146 DOM
9. 2026-06-08
   days on market $89,900 Active 145 DOM
10. 2026-06-07
    days on market $89,900 Active 144 DOM
11. 2026-06-07
    days on market $89,900 Active 143 DOM
12. 2026-06-04
    pricedays on market $89,900 Active 140 DOM
13. 2026-06-02
    days on market $99,900 Active 139 DOM
14. 2026-06-01
    days on market $99,900 Active 138 DOM
15. 2026-05-31
    days on market $99,900 Active 137 DOM
16. 2026-05-31
    days on market $99,900 Active 136 DOM
17. 2026-05-15
    price $99,900 515-char remark

    Show marketing remark (515 chars)

    Welcome Home to 405 S. 4th Street! This 2-Story home features 4 Bedrooms/2 Bathrooms, a 1 car detached garage, and approximately 2,268 square feet! This property is eligible under the Freddie Mac First Look Initiative though 2/8/2026. Seller will not complete any repairs to the subject property, either lender or buyer requested. The property is sold in AS IS condition Taxes prorated at 100 precent. EM MUST BE CERTIFIED FUNDS. Info not guaranteed. Seller does not provide survey. Equal Housing Opportunity. AS-IS

18. 2026-04-24
    price $109,900 515-char remark

    Show marketing remark (515 chars)

    Welcome Home to 405 S. 4th Street! This 2-Story home features 4 Bedrooms/2 Bathrooms, a 1 car detached garage, and approximately 2,268 square feet! This property is eligible under the Freddie Mac First Look Initiative though 2/8/2026. Seller will not complete any repairs to the subject property, either lender or buyer requested. The property is sold in AS IS condition Taxes prorated at 100 precent. EM MUST BE CERTIFIED FUNDS. Info not guaranteed. Seller does not provide survey. Equal Housing Opportunity. AS-IS

19. 2026-03-25
    price $114,900 515-char remark

    Show marketing remark (515 chars)

    Welcome Home to 405 S. 4th Street! This 2-Story home features 4 Bedrooms/2 Bathrooms, a 1 car detached garage, and approximately 2,268 square feet! This property is eligible under the Freddie Mac First Look Initiative though 2/8/2026. Seller will not complete any repairs to the subject property, either lender or buyer requested. The property is sold in AS IS condition Taxes prorated at 100 precent. EM MUST BE CERTIFIED FUNDS. Info not guaranteed. Seller does not provide survey. Equal Housing Opportunity. AS-IS

20. 2026-03-03
    price $119,900 515-char remark

    Show marketing remark (515 chars)

    Welcome Home to 405 S. 4th Street! This 2-Story home features 4 Bedrooms/2 Bathrooms, a 1 car detached garage, and approximately 2,268 square feet! This property is eligible under the Freddie Mac First Look Initiative though 2/8/2026. Seller will not complete any repairs to the subject property, either lender or buyer requested. The property is sold in AS IS condition Taxes prorated at 100 precent. EM MUST BE CERTIFIED FUNDS. Info not guaranteed. Seller does not provide survey. Equal Housing Opportunity. AS-IS

21. 2026-01-12
    listed $124,900 Active 515-char remark

    Show marketing remark (515 chars)

    Welcome Home to 405 S. 4th Street! This 2-Story home features 4 Bedrooms/2 Bathrooms, a 1 car detached garage, and approximately 2,268 square feet! This property is eligible under the Freddie Mac First Look Initiative though 2/8/2026. Seller will not complete any repairs to the subject property, either lender or buyer requested. The property is sold in AS IS condition Taxes prorated at 100 precent. EM MUST BE CERTIFIED FUNDS. Info not guaranteed. Seller does not provide survey. Equal Housing Opportunity. AS-IS

22. 2016-03-18
    soldstatus $103,500
23. 2016-03-17
    soldstatus $103,400 970-char remark

    Show marketing remark (970 chars)

    Well maintained historic home!!! Welcoming front porch. Elegant entry with exposed stairway, that can also be used as a formal dining room with hardwood floors. There is a very impressive formal living room with tall ceilings and crown molding. The kitchen has nice cabinets, recessed lighting, and convenient eat-in kitchen area. The BIG family room has a sliding door that opens to the deck and fenced back yard. Off the kitchen area is a very nice office that also can be used as a fourth bedroom. Upstairs features a large master bedroom with walk-in closet, two additional bedrooms and a large bath with garden tub. The A/C was new in 2015, a new dishwasher in 2014, roof in 2003. Replacement windows. Central location in TIFF Dist #3. Zoned B-2. Always used as a as residence. .. but could be used for an excellent business location. Double lot with access along both sides would provide excellent parking facilities and traffic flow for a business or office.

24. 2016-03-17
    soldstatus $103,400

    Show marketing remark (970 chars)

    Well maintained historic home!!! Welcoming front porch. Elegant entry with exposed stairway, that can also be used as a formal dining room with hardwood floors. There is a very impressive formal living room with tall ceilings and crown molding. The kitchen has nice cabinets, recessed lighting, and convenient eat-in kitchen area. The BIG family room has a sliding door that opens to the deck and fenced back yard. Off the kitchen area is a very nice office that also can be used as a fourth bedroom. Upstairs features a large master bedroom with walk-in closet, two additional bedrooms and a large bath with garden tub. The A/C was new in 2015, a new dishwasher in 2014, roof in 2003. Replacement windows. Central location in TIFF Dist #3. Zoned B-2. Always used as a as residence. .. but could be used for an excellent business location. Double lot with access along both sides would provide excellent parking facilities and traffic flow for a business or office.

25. 2015-11-30
    listed $110,000 970-char remark

    Show marketing remark (970 chars)

    Well maintained historic home!!! Welcoming front porch. Elegant entry with exposed stairway, that can also be used as a formal dining room with hardwood floors. There is a very impressive formal living room with tall ceilings and crown molding. The kitchen has nice cabinets, recessed lighting, and convenient eat-in kitchen area. The BIG family room has a sliding door that opens to the deck and fenced back yard. Off the kitchen area is a very nice office that also can be used as a fourth bedroom. Upstairs features a large master bedroom with walk-in closet, two additional bedrooms and a large bath with garden tub. The A/C was new in 2015, a new dishwasher in 2014, roof in 2003. Replacement windows. Central location in TIFF Dist #3. Zoned B-2. Always used as a as residence. .. but could be used for an excellent business location. Double lot with access along both sides would provide excellent parking facilities and traffic flow for a business or office.

26. 2015-11-30
    listed $110,000

    Show marketing remark (970 chars)

    Well maintained historic home!!! Welcoming front porch. Elegant entry with exposed stairway, that can also be used as a formal dining room with hardwood floors. There is a very impressive formal living room with tall ceilings and crown molding. The kitchen has nice cabinets, recessed lighting, and convenient eat-in kitchen area. The BIG family room has a sliding door that opens to the deck and fenced back yard. Off the kitchen area is a very nice office that also can be used as a fourth bedroom. Upstairs features a large master bedroom with walk-in closet, two additional bedrooms and a large bath with garden tub. The A/C was new in 2015, a new dishwasher in 2014, roof in 2003. Replacement windows. Central location in TIFF Dist #3. Zoned B-2. Always used as a as residence. .. but could be used for an excellent business location. Double lot with access along both sides would provide excellent parking facilities and traffic flow for a business or office.

27. 2010-03-25
    soldstatus $87,000
28. 2009-05-26
    listed $90,000

ⓘ 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: $3,845 · $320/mo
• Projected year-2 tax: $3,845 · $320/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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥106°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $13,957
• − Mortgage interest: −$5,036
• − Property taxes: −$3,845
• − Insurance: −$450
• − Repairs & maintenance: −$1,117
• − Management: −$1,117
• − Depreciation: −$2,615
• Taxable loss: −$221
• Est. tax savings @ 24.0%: +$53
• After-tax cash flow: $1,128/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: Effingham CUSD 40
• NCES district ID: 1713560
• Math proficiency: 18% ▼ -5.00%
• Reading proficiency: 26% ▼ -6.00%
• Median HH income: $48,021
• Composite: 19.35/100
• National rank: #8789
• State rank: #387 of 620 in IL

Livability — Effingham

• Score: 78/100
• State rank: #140
• US rank: #2564

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Effingham, IL
• City population: 19,371
• Population (ZIP): 19,371

Population outlook (Effingham County) Hauer SSP2

• Today (2025): 34,179 people
• By 2030: 33,648 · -1.6%
• By 2040: 32,066 · -6.2%
• By 2050: 29,813 · -12.8%
• By 2075: 24,101 · -29.5%
• By 2100: 17,174 · -49.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 3% Two or more races 2%
• Common ancestry: Lithuanian 2% Romanian 2% Italian 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3% Other Indo-European 1%

Political lean MEDSL · Effingham

• 2024 margin: Solid R (+60.4) · D 19.0% · R 79.3% · Other 1.7%
• 2008→2024 swing: -24.4pp toward R · 2008: -36.0pp · 2024: -60.4pp
• All cycles: 2024: R+60.4 2020: R+59.2 2016: R+60.5 2012: R+52.0 2008: R+36.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -59.52%
• Current HPI: 167.267
• 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

+11.0% since first listed

12 events — show timeline

• 2026-05-15 Price Changed $99,900 MRED as Distributed by MLS Grid
• 2026-04-24 Price Changed $109,900 MRED as Distributed by MLS Grid
• 2026-03-25 Price Changed $114,900 MRED as Distributed by MLS Grid
• 2026-03-03 Price Changed $119,900 MRED as Distributed by MLS Grid
• 2026-01-12 Listed $124,900 MRED as Distributed by MLS Grid
• 2016-03-18 Sold (Public Records) $103,500 Public Records
• 2016-03-17 Sold (MLS) $103,400 MRED as Distributed by MLS Grid
• 2016-03-17 Sold (MLS) $103,400 CIBR
• 2015-11-30 Listed $110,000 MRED as Distributed by MLS Grid
• 2015-11-30 Listed $110,000 CIBR
• 2010-03-25 Sold (MLS) $87,000 MRED as Distributed by MLS Grid
• 2009-05-26 Listed $90,000 MRED as Distributed by MLS Grid

Property tax history

+3.5%/yr

Latest (2024): $3,845 · +10.3% YoY. Source: county tax records.