109 S Washington St · Sparta, IL 62286

$16,000

2 bd · 1.0 ba · 1,072 sqft · SingleFamily · 58 Days on market

7,500 sqft lot

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks

1.5 story fixer-upper. There are two bedrooms upstairs. A third could be framed in downstairs for minimal cost.

Key facts

• 7,500 sq ft lot
• 2 parking spots
• Listed 58 days

Property features AI

Finance

• Other: Fee simple ownership; Possession at closing
• HOA & community: No master association fee required

Exterior

• Parking: 2 parking spaces (gravel)
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; 2-story
• Construction: Approximately 81–90 years old; Masonite exterior; Asphalt roof; Block foundation; Built before 1978
• Exterior features: Corner lot (50 x 150); Lot less than 0.25 acre; Gravel parking

Interior

• Kitchen: Kitchen on main level
• Bedrooms: 2 bedrooms (including master bedroom on second floor); Additional bedrooms listed (no separate levels provided for some)
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Cooling: Other
• Interior features: Unfinished full basement; Total of 4 rooms
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $16k.

Deal economics

• At list price, monthly cash flow is $633 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($941 rent vs $16k).
• Recommended offer: $16k (3.0% below list) — sets the bar for market timing.
• Cap rate 53.8% vs local median 6.7% in Sparta — 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 58/100 on livability (#1,090 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime B+; Watch: employment C-, amenities F, commute F.
• Sparta CUSD 140 (town): math 13% / reading 14% proficiency, ranked #535 of 620 in IL (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Sparta Lincoln School (math 14% / reading 14%, grade F, #1,346 of 2,056 statewide, top 66%, 732 students, 0% FRL); Sparta High School (math 12% / reading 8%, grade F, #567 of 693 statewide, top 83%, 327 students, 0% FRL) — zoned schools average 0% FRL vs 49% district-wide (49 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 31 active listings in the ZIP; 3 units permitted in Randolph County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $111 of loan paydown is wiped out by about $480 of value loss. Plan a longer hold.
• Randolph 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 + 3.0% rent growth), your $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($16k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $15,520 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 5.88% ✓
• Cap rate: 53.78%
• Cash-on-cash: 169.60%
• DSCR: 8.55
• GRM: 1.4

CMA / ARV

• ARV (on-the-fly): $101,840
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
109 S Washington St	0.00mi	2/1.0	1,072 (0%)	1mo	$14,000	$13	99
510 E Main St	0.23mi	2/1.0	1,000 (-7%)	2mo	$48,000	$48	77
317 N Washington St	0.27mi	2/1.0	1,100 (+3%)	10mo	$32,100	$29	75
206 S Dewey St	0.34mi	3/1.5 (+1)	1,080 (+1%)	2mo	$155,000	$144	74
408 E Mound St	0.35mi	3/1.0 (+1)	998 (-7%)	3mo	$79,900	$80	65
305 Peggy Ln	0.60mi	3/2.0 (+1)	1,112 (+4%)	4mo	$125,000	$112	53
520 E Mound St	0.40mi	2/1.0	924 (-14%)	6mo	$70,000	$76	53
419 W Park Ave	0.53mi	2/1.0	950 (-11%)	8mo	$76,000	$80	50
307 W Church St	0.37mi	3/1.0 (+1)	1,216 (+13%)	8mo	$115,000	$95	49
509 W Grigg St	0.69mi	2/1.0	960 (-10%)	3mo	$115,000	$120	48
708 S Saint Louis St	0.68mi	2/2.0	1,000 (-7%)	8mo	$134,900	$135	46
905 N Pine St	0.69mi	2/2.0	1,224 (+14%)	3mo	$132,000	$108	38

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: —
• Equity multiple: 9.43×
• Total profit: $37,748
• Equity at exit: $2,386

10-year hold

• IRR: —
• Equity multiple: 19.94×
• Total profit: $84,854
• Equity at exit: $1,383

Cash invested: $4,480 (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 62286

• Home prices YoY: -31.0%
• Active inventory: 31
• Price-to-rent: 1.4×

Monthly cashflow live

• Estimated rent: $941 medium
• Mortgage (P&I): −$84
• Tax est. 1.5%: −$20 /mo · $240/yr
• Insurance: −$7
• HOA: −$0
• Vacancy / Maint / Mgmt: −$198
• Net cashflow: $633

Break-even live

Break-even rent $140

Max offer price $16,000

Occupancy floor 28%

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: $4,000
• Closing costs: $480
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-01
   status Pending
2. 2026-03-02
   listed $16,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥106°F today · 22 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,297
• − Mortgage interest: −$896
• − Property taxes: −$240
• − Insurance: −$80
• − Repairs & maintenance: −$904
• − Management: −$904
• − Depreciation: −$465
• Taxable income: $7,808
• Est. tax owed @ 24.0%: −$1,874
• After-tax cash flow: $5,724/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: Sparta CUSD 140
• NCES district ID: 1736900
• Math proficiency: 13% ▼ -10.00%
• Reading proficiency: 14% ▼ -13.00%
• Median HH income: $43,992
• Composite: 11.95/100
• National rank: #9668
• State rank: #535 of 620 in IL

Livability — Sparta

• Score: 58/100
• State rank: #1090
• US rank: #20732

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sparta, IL
• City population: 5,482
• Population (ZIP): 5,482

Population outlook (Randolph County) Hauer SSP2

• Today (2025): 31,417 people
• By 2030: 30,519 · -2.9%
• By 2040: 28,841 · -8.2%
• By 2050: 27,150 · -13.6%
• By 2075: 22,569 · -28.2%
• By 2100: 16,584 · -47.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Black 10% Two or more races 7% Hispanic / Latino 3%
• Common ancestry: Serbian 9% Lithuanian 2% Slovak 2%
• Languages at home: 99% English-only · French/Haitian/Cajun 1%

Political lean MEDSL · Randolph

• 2024 margin: Solid R (+50.0) · D 24.1% · R 74.1% · Other 1.7%
• 2008→2024 swing: -49.0pp toward R · 2008: -0.9pp · 2024: -50.0pp
• All cycles: 2024: R+50.0 2020: R+50.2 2016: R+46.8 2012: R+17.6 2008: R+0.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -52.47%
• Current HPI: 116.6798
• 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

2 events — show timeline

• 2026-05-01 Pending — MRED as Distributed by MLS Grid
• 2026-03-02 Listed $16,000 MRED as Distributed by MLS Grid

Property tax history

+2.1%/yr

Latest (2024): $1,052 · +1.4% YoY. Source: county tax records.