301 N Franklin St · Rushville, IL 62681

$69,000

2 bd · 1.0 ba · 795 sqft · Other · 209 Days on market

6,500 sqft lot

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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 +29.1/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Charming 2-bedroom home with a convenient Jack & Jill bathroom and fresh updates throughout! Recent improvements include new paint and flooring, a brand-new AC coil and line (2025), and a roof replaced in 2022. The bathroom features a new toilet and tub surround (2025), gas line replaced and the sewer line to the street has been upgraded to PVC for peace of mind. The home also offers washer and dryer hookups, an unfinished basement for extra storage or future finishing, and extra paint that will convey. With just a few finishing touches, this property could be move-in ready or serve as a great addition to your investment portfolio. Corner Lot. This home can also be purchased as part o

Key facts

• 6,500 sq ft lot
• Listed 209 days

Property features AI

Exterior

• Parking: On-street parking (no garage)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Multiple levels including main, upper, lower and basement
• Construction: Not new construction; Building area approximately 795
• Exterior features: Corner, level lot; 65 x 100 lot dimensions; Shingle roof

Interior

• Kitchen: Kitchen on the main level
• Bedrooms: Two bedrooms on the main level (approx. 11' x 11' and 10' x 11'); Additional finished spaces on upper, lower and other levels
• Flooring: Carpet in bedrooms; Vinyl flooring in living room and kitchen
• Bathrooms: One full bathroom
• Heating & cooling: Central air; Gas water heater
• Interior features: Full basement; Washer and dryer included
• Laundry & utility: Laundry area with washer and dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $69k.

Deal economics

• At list price, monthly cash flow is $238 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($842 rent vs $69k).
• Recommended offer: $61k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#627 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D, amenities F, commute F.
• Schuyler-Industry CUSD 5 (town): math 13% / reading 15% proficiency, ranked #522 of 620 in IL (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 16 active listings in the ZIP.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $477 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Schuyler County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 209 days — a 12% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $35k; list at $69k implies a 97% gain — meaningful room to come down on a strong offer.

Recommended offer $60,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 209 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.22% ✓
• Cap rate: 10.43%
• Cash-on-cash: 14.78%
• DSCR: 1.66
• GRM: 6.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 5.3%
• Equity multiple: 1.20×
• Total profit: $3,957
• Equity at exit: $10,288

10-year hold

• IRR: 14.7%
• Equity multiple: 2.18×
• Total profit: $22,889
• Equity at exit: $5,966

Cash invested: $19,320 (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 62681

• Home prices YoY: -17.0%
• Active inventory: 16
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $842 medium
• Mortgage (P&I): −$362
• Tax from tax record: −$37 /mo · $443/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$177
• Net cashflow: $238

Break-even live

Break-even rent $541

Max offer price $69,000

Occupancy floor 67%

Sensitivity live

Price	-10% $277	-5% $257	+0% $238	+5% $218	+10% $199
Rent	-10% $171	-5% $205	+0% $238	+5% $271	+10% $304
Rate	-1.0pp $273	-0.5pp $256	base $238	+0.5pp $220	+1.0pp $202

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-04
   days on market $69,000 Under Contract 209 DOM
2. 2026-06-02
   days on market $69,000 Under Contract 208 DOM
3. 2026-06-01
   days on market $69,000 Under Contract 207 DOM
4. 2026-05-31
   days on market $69,000 Under Contract 206 DOM
5. 2026-05-31
   days on market $69,000 Under Contract 205 DOM
6. 2026-04-30
   historical Under Contract
7. 2026-04-21
   status Active
8. 2026-04-15
   historical Under Contract
9. 2026-03-03
   price $69,000
10. 2025-12-03
    price $70,000
11. 2025-12-03
    price $67,500
12. 2025-06-02
    soldstatus $35,000
13. 2008-09-01
    soldstatus $39,500

ⓘ 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: $443 · $37/mo
• Projected year-2 tax: $1,005 · $84/mo
• Expected delta: +$562/yr (+$47/mo · 126.7%)

ⓘ 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 3/10 Moderate 7 d/yr ≥106°F today · 18 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,108
• − Mortgage interest: −$3,865
• − Property taxes: −$443
• − Insurance: −$345
• − Repairs & maintenance: −$809
• − Management: −$809
• − Depreciation: −$2,007
• Taxable income: $1,831
• Est. tax owed @ 24.0%: −$439
• After-tax cash flow: $2,416/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: Schuyler-Industry CUSD 5
• NCES district ID: 1700332
• Math proficiency: 13% ▼ -8.00%
• Reading proficiency: 15% ▼ -10.00%
• Median HH income: $46,367
• Composite: 12.59/100
• National rank: #9616
• State rank: #522 of 620 in IL

Livability — Rushville

• Score: 65/100
• State rank: #627
• US rank: #12830

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rushville, IL
• Population (ZIP): 5,649

Population outlook (Schuyler County) Hauer SSP2

• Today (2025): 6,298 people
• By 2030: 5,913 · -6.1%
• By 2040: 5,186 · -17.7%
• By 2050: 4,527 · -28.1%
• By 2075: 3,365 · -46.6%
• By 2100: 2,553 · -59.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Black 5% Hispanic / Latino 3% Two or more races 2%
• Common ancestry: Lithuanian 2% Slovak 2% Iranian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% French/Haitian/Cajun 1%

Political lean MEDSL · Schuyler

• 2024 margin: Solid R (+46.8) · D 25.6% · R 72.4% · Other 2.0%
• 2008→2024 swing: -48.6pp toward R · 2008: 1.8pp · 2024: -46.8pp
• All cycles: 2024: R+46.8 2020: R+43.5 2016: R+38.2 2012: R+8.7 2008: D+1.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -30.32%
• Current HPI: 148.2595
• 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

+74.7% since first listed

8 events — show timeline

• 2026-04-30 Contingent — RMLSA as Distributed by MLS Grid
• 2026-04-21 Relisted — RMLSA as Distributed by MLS Grid
• 2026-04-15 Contingent — RMLSA as Distributed by MLS Grid
• 2026-03-03 Price Changed $69,000 RMLSA as Distributed by MLS Grid
• 2025-12-03 Price Changed $70,000 RMLSA as Distributed by MLS Grid
• 2025-12-03 Price Changed $67,500 RMLSA as Distributed by MLS Grid
• 2025-06-02 Sold (Public Records) $35,000 Public Records
• 2008-09-01 Sold (Public Records) $39,500 Public Records

Property tax history

-3.3%/yr

Latest (2024): $443 · -2.5% YoY. Source: county tax records.