129 Prairie St · Greenfield, IL 62044

$50,000

3 bd · 1.0 ba · 1,980 sqft · Other · 119 Days on market

6,475 sqft lot ↓ 32% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious three-bedroom, one bath home with plenty of surrounding land. If you are looking for privacy and comfort, this home is worth taking a look at.

Key facts

• 6,475 sq ft lot
• 8 parking spots
• Listed 119 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $50k.

Deal economics

• At list price, monthly cash flow is $511 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $46k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#696 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, schools D-, amenities F.
• Greenfield CUSD 10 (rural): math 30% / reading 30% proficiency, ranked #490 of 919 in IL (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 2 active listings in the ZIP; 1 units permitted in Greene County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $346 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Greene 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 $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 119 days — a 9% lower offer ($46k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $23k (32%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 4.2% of price.

Recommended offer $45,500 (9.0% below list)

Questions for the listing agent

1. It's been on market 119 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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.
7. 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.
8. 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: 2.46% ✓
• Cap rate: 18.56%
• Cash-on-cash: 43.81%
• DSCR: 2.95
• GRM: 3.4

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: 40.8%
• Equity multiple: 2.75×
• Total profit: $24,543
• Equity at exit: $7,455

10-year hold

• IRR: 47.1%
• Equity multiple: 5.55×
• Total profit: $63,651
• Equity at exit: $4,323

Cash invested: $14,000 (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 62044

• Home prices YoY: -14.7%
• Active inventory: 2
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,228 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$176 /mo · $2,107/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $511

Break-even live

Break-even rent $581

Max offer price $50,000

Occupancy floor 53%

Sensitivity live

Price	-10% $539	-5% $525	+0% $511	+5% $497	+10% $483
Rent	-10% $414	-5% $463	+0% $511	+5% $560	+10% $608
Rate	-1.0pp $536	-0.5pp $524	base $511	+0.5pp $498	+1.0pp $485

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-05-31
   days on market $50,000 Active 119 DOM
2. 2026-05-31
   days on market $50,000 Active 118 DOM
3. 2026-05-09
   price $50,000 151-char remark

   Show marketing remark (151 chars)

   Spacious three-bedroom, one bath home with plenty of surrounding land. If you are looking for privacy and comfort, this home is worth taking a look at.

4. 2026-04-15
   price $55,000 151-char remark

   Show marketing remark (151 chars)

   Spacious three-bedroom, one bath home with plenty of surrounding land. If you are looking for privacy and comfort, this home is worth taking a look at.

5. 2026-04-02
   status Active 151-char remark

   Show marketing remark (151 chars)

   Spacious three-bedroom, one bath home with plenty of surrounding land. If you are looking for privacy and comfort, this home is worth taking a look at.

6. 2026-03-31
   historical 151-char remark

   Show marketing remark (151 chars)

   Spacious three-bedroom, one bath home with plenty of surrounding land. If you are looking for privacy and comfort, this home is worth taking a look at.

7. 2026-03-19
   price $60,000 151-char remark

   Show marketing remark (151 chars)

   Spacious three-bedroom, one bath home with plenty of surrounding land. If you are looking for privacy and comfort, this home is worth taking a look at.

8. 2026-02-28
   price $65,000 151-char remark

   Show marketing remark (151 chars)

   Spacious three-bedroom, one bath home with plenty of surrounding land. If you are looking for privacy and comfort, this home is worth taking a look at.

9. 2026-02-15
   price $66,000 151-char remark

   Show marketing remark (151 chars)

   Spacious three-bedroom, one bath home with plenty of surrounding land. If you are looking for privacy and comfort, this home is worth taking a look at.

10. 2026-01-29
    listed $73,000 Active 151-char remark

    Show marketing remark (151 chars)

    Spacious three-bedroom, one bath home with plenty of surrounding land. If you are looking for privacy and comfort, this home is worth taking a look at.

11. 2021-08-06
    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: $2,107 · $176/mo
• Projected year-2 tax: $2,107 · $176/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 (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 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,732
• − Mortgage interest: −$2,801
• − Property taxes: −$2,107
• − Insurance: −$250
• − Repairs & maintenance: −$1,179
• − Management: −$1,179
• − Depreciation: −$1,455
• Taxable income: $5,762
• Est. tax owed @ 24.0%: −$1,383
• After-tax cash flow: $4,751/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: Greenfield CUSD 10
• NCES district ID: 1717670
• Math proficiency: 30% ▼ -5.00%
• Reading proficiency: 30% ▼ -9.00%
• Median HH income: $48,286
• Composite: 28.87/100
• National rank: #11958
• State rank: #490 of 919 in IL

Livability — Greenfield

• Score: 64/100
• State rank: #696
• US rank: #14176

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Greenfield, IL
• Population (ZIP): 2,086

Population outlook (Greene County) Hauer SSP2

• Today (2025): 12,137 people
• By 2030: 11,467 · -5.5%
• By 2040: 10,117 · -16.6%
• By 2050: 8,804 · -27.5%
• By 2075: 6,187 · -49.0%
• By 2100: 4,175 · -65.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 3%
• Common ancestry: Slovak 3% Russian 2% Danish 1%
• Foreign-born: 0%

Political lean MEDSL · Greene

• 2024 margin: Solid R (+57.8) · D 20.1% · R 78.0% · Other 1.9%
• 2008→2024 swing: -50.3pp toward R · 2008: -7.5pp · 2024: -57.8pp
• All cycles: 2024: R+57.8 2020: R+54.9 2016: R+53.0 2012: R+25.4 2008: R+7.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -19.41%
• Current HPI: 112.4022
• 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

-31.5% since first listed

9 events — show timeline

• 2026-05-09 Price Changed $50,000 MRED as Distributed by MLS Grid
• 2026-04-15 Price Changed $55,000 MRED as Distributed by MLS Grid
• 2026-04-02 Relisted — MRED as Distributed by MLS Grid
• 2026-03-31 Listing Removed — MRED as Distributed by MLS Grid
• 2026-03-19 Price Changed $60,000 MRED as Distributed by MLS Grid
• 2026-02-28 Price Changed $65,000 MRED as Distributed by MLS Grid
• 2026-02-15 Price Changed $66,000 MRED as Distributed by MLS Grid
• 2026-01-29 Listed $73,000 MRED as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid

Property tax history

+2.2%/yr

Latest (2024): $2,107 · -0.2% YoY. Source: county tax records.