1735 Rhodes St · Madison, IL 62060

$112,000

4 bd · 2.0 ba · 1,284 sqft · SingleFamily · 106 Days on market

Built 1950 9,561 sqft lot $87/sqft · 41% above area Est $79k · 41% over

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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 +26.6/30.0
• DSCR +9.1/10.0
• 1% rule +7.7/10.0
• Livability +3.1/5.0
• Appreciation +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.2/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

Welcome to this inviting 4-bedroom, 2-bath brick ranch perfectly positioned on a corner lot. With its classic exterior, generous layout, and single-level convenience, this home offers the ideal blend of comfort and functionality. Inside, you'll find a well-designed floor plan featuring a living room with abundant natural light .The primary bedroom includes its own full bath, while three additional bedrooms provide flexibility for guests, a home office, playroom, or hobby space. A second full bathroom is centrally located for convenience. Step outside and enjoy the benefits of a spacious corner lot. Whether you're dreaming of backyard barbecues, a garden oasis, or simply a quiet retreat, the outdoor space delivers endless potential. Home is being sold as-is.

Key facts

• 9,561 sq ft lot
• Built 1950
• Listed 105 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $112k.

Deal economics

• At list price, monthly cash flow is $300 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $112k).
• Recommended offer: $102k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#861 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A-, housing B+; Watch: health & safety C-, schools F, amenities F.
• Madison CUSD 12 (suburban): math 2% / reading 4% proficiency, ranked #619 of 620 in IL (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 84% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 10 active listings in the ZIP; 336 units permitted in Madison County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $774 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Madison County population projected at -18% 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 $31k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 106 days — a 9% lower offer ($102k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 12y ago; this cycle's ask has dropped $13k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $24k; list at $112k implies a 377% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $101,920 (9.0% below list)

Questions for the listing agent

1. It's been on market 106 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — 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 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?
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: 1.27% ✓
• Cap rate: 9.51%
• Cash-on-cash: 11.49%
• DSCR: 1.51
• GRM: 6.6

CMA / ARV

• ARV (median comp): $79,305
• List price: $112,000
• Delta: 41.23%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1821 Edwardsville Rd	0.09mi	3/2.5 (-1)	1,302 (+1%)	7mo	$179,900	$138	80
1664 5th St	0.18mi	3/1.0 (-1)	1,200 (-6%)	0mo	$25,000	$21	72
1710 Edwardsville Rd	0.05mi	3/1.5 (-1)	1,390 (+8%)	15mo	$121,000	$87	64
1832 2nd	0.37mi	3/1.0 (-1)	1,135 (-12%)	12mo	$65,000	$57	45
1709 Elizabeth St	0.46mi	3/1.0 (-1)	1,120 (-13%)	20mo	$100,000	$89	32

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: 0.9%
• Equity multiple: 1.03×
• Total profit: $1,034
• Equity at exit: $16,700

10-year hold

• IRR: 10.5%
• Equity multiple: 1.82×
• Total profit: $25,746
• Equity at exit: $9,684

Cash invested: $31,360 (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 62060

• Home prices YoY: -2.0%
• Active inventory: 10
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,423 medium
• Mortgage (P&I): −$587
• Tax from tax record: −$190 /mo · $2,282/yr
• Insurance: −$47
• HOA: −$0
• Vacancy / Maint / Mgmt: −$299
• Net cashflow: $300

Break-even live

Break-even rent $1,043

Max offer price $112,000

Occupancy floor 74%

Sensitivity live

Price	-10% $364	-5% $332	+0% $300	+5% $269	+10% $237
Rent	-10% $188	-5% $244	+0% $300	+5% $357	+10% $413
Rate	-1.0pp $357	-0.5pp $329	base $300	+0.5pp $271	+1.0pp $242

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: $28,000
• Closing costs: $3,360
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-21
   days on market $112,000 Active 106 DOM
2. 2026-06-18
   days on market $112,000 Active 103 DOM
3. 2026-06-17
   days on market $112,000 Active 102 DOM
4. 2026-06-16
   days on market $112,000 Active 101 DOM
5. 2026-06-15
   days on market $112,000 Active 100 DOM
6. 2026-06-13
   days on market $112,000 Active 98 DOM
7. 2026-06-13
   days on market $112,000 Active 97 DOM
8. 2026-06-09
   days on market $112,000 Active 94 DOM
9. 2026-06-08
   days on market $112,000 Active 93 DOM
10. 2026-06-07
    days on market $112,000 Active 92 DOM
11. 2026-06-03
    days on market $112,000 Active 88 DOM
12. 2026-06-02
    days on market $112,000 Active 87 DOM
13. 2026-06-01
    days on market $112,000 Active 86 DOM
14. 2026-05-31
    days on market $112,000 Active 85 DOM
15. 2026-04-28
    status Active 768-char remark

    Show marketing remark (768 chars)

    Welcome to this inviting 4-bedroom, 2-bath brick ranch perfectly positioned on a corner lot. With its classic exterior, generous layout, and single-level convenience, this home offers the ideal blend of comfort and functionality. Inside, you'll find a well-designed floor plan featuring a living room with abundant natural light .The primary bedroom includes its own full bath, while three additional bedrooms provide flexibility for guests, a home office, playroom, or hobby space. A second full bathroom is centrally located for convenience. Step outside and enjoy the benefits of a spacious corner lot. Whether you're dreaming of backyard barbecues, a garden oasis, or simply a quiet retreat, the outdoor space delivers endless potential. Home is being sold as-is.

16. 2026-04-28
    price $112,000 768-char remark

    Show marketing remark (768 chars)

    Welcome to this inviting 4-bedroom, 2-bath brick ranch perfectly positioned on a corner lot. With its classic exterior, generous layout, and single-level convenience, this home offers the ideal blend of comfort and functionality. Inside, you'll find a well-designed floor plan featuring a living room with abundant natural light .The primary bedroom includes its own full bath, while three additional bedrooms provide flexibility for guests, a home office, playroom, or hobby space. A second full bathroom is centrally located for convenience. Step outside and enjoy the benefits of a spacious corner lot. Whether you're dreaming of backyard barbecues, a garden oasis, or simply a quiet retreat, the outdoor space delivers endless potential. Home is being sold as-is.

17. 2026-04-13
    status Pending 768-char remark

    Show marketing remark (768 chars)

    Welcome to this inviting 4-bedroom, 2-bath brick ranch perfectly positioned on a corner lot. With its classic exterior, generous layout, and single-level convenience, this home offers the ideal blend of comfort and functionality. Inside, you'll find a well-designed floor plan featuring a living room with abundant natural light .The primary bedroom includes its own full bath, while three additional bedrooms provide flexibility for guests, a home office, playroom, or hobby space. A second full bathroom is centrally located for convenience. Step outside and enjoy the benefits of a spacious corner lot. Whether you're dreaming of backyard barbecues, a garden oasis, or simply a quiet retreat, the outdoor space delivers endless potential. Home is being sold as-is.

18. 2026-03-16
    status Active 768-char remark

    Show marketing remark (768 chars)

    Welcome to this inviting 4-bedroom, 2-bath brick ranch perfectly positioned on a corner lot. With its classic exterior, generous layout, and single-level convenience, this home offers the ideal blend of comfort and functionality. Inside, you'll find a well-designed floor plan featuring a living room with abundant natural light .The primary bedroom includes its own full bath, while three additional bedrooms provide flexibility for guests, a home office, playroom, or hobby space. A second full bathroom is centrally located for convenience. Step outside and enjoy the benefits of a spacious corner lot. Whether you're dreaming of backyard barbecues, a garden oasis, or simply a quiet retreat, the outdoor space delivers endless potential. Home is being sold as-is.

19. 2026-03-10
    historical Active Under Contract 768-char remark

    Show marketing remark (768 chars)

    Welcome to this inviting 4-bedroom, 2-bath brick ranch perfectly positioned on a corner lot. With its classic exterior, generous layout, and single-level convenience, this home offers the ideal blend of comfort and functionality. Inside, you'll find a well-designed floor plan featuring a living room with abundant natural light .The primary bedroom includes its own full bath, while three additional bedrooms provide flexibility for guests, a home office, playroom, or hobby space. A second full bathroom is centrally located for convenience. Step outside and enjoy the benefits of a spacious corner lot. Whether you're dreaming of backyard barbecues, a garden oasis, or simply a quiet retreat, the outdoor space delivers endless potential. Home is being sold as-is.

20. 2026-02-20
    listed $125,000 Active 768-char remark

    Show marketing remark (768 chars)

    Welcome to this inviting 4-bedroom, 2-bath brick ranch perfectly positioned on a corner lot. With its classic exterior, generous layout, and single-level convenience, this home offers the ideal blend of comfort and functionality. Inside, you'll find a well-designed floor plan featuring a living room with abundant natural light .The primary bedroom includes its own full bath, while three additional bedrooms provide flexibility for guests, a home office, playroom, or hobby space. A second full bathroom is centrally located for convenience. Step outside and enjoy the benefits of a spacious corner lot. Whether you're dreaming of backyard barbecues, a garden oasis, or simply a quiet retreat, the outdoor space delivers endless potential. Home is being sold as-is.

21. 2026-02-20
    historical $125,000 768-char remark

    Show marketing remark (768 chars)

    Welcome to this inviting 4-bedroom, 2-bath brick ranch perfectly positioned on a corner lot. With its classic exterior, generous layout, and single-level convenience, this home offers the ideal blend of comfort and functionality. Inside, you'll find a well-designed floor plan featuring a living room with abundant natural light .The primary bedroom includes its own full bath, while three additional bedrooms provide flexibility for guests, a home office, playroom, or hobby space. A second full bathroom is centrally located for convenience. Step outside and enjoy the benefits of a spacious corner lot. Whether you're dreaming of backyard barbecues, a garden oasis, or simply a quiet retreat, the outdoor space delivers endless potential. Home is being sold as-is.

22. 2015-01-16
    soldstatus 160-char remark

    Show marketing remark (160 chars)

    Property needs work but has great potential - priced to sell, schedule a showing today! You will want to see this wonderful brick home located on a corner lot.

23. 2014-12-05
    listed $14,500 160-char remark

    Show marketing remark (160 chars)

    Property needs work but has great potential - priced to sell, schedule a showing today! You will want to see this wonderful brick home located on a corner lot.

24. 2000-04-06
    soldstatus $23,500
25. 2000-04-06
    soldstatus $23,500
26. 2000-04-06
    soldstatus $23,500

ⓘ 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: $2,282 · $190/mo
• Projected year-2 tax: $2,412 · $201/mo
• Expected delta: +$130/yr (+$11/mo · 5.7%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,082
• − Mortgage interest: −$6,274
• − Property taxes: −$2,282
• − Insurance: −$560
• − Repairs & maintenance: −$1,367
• − Management: −$1,367
• − Depreciation: −$3,258
• Taxable income: $1,975
• Est. tax owed @ 24.0%: −$474
• After-tax cash flow: $3,130/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: Madison CUSD 12
• NCES district ID: 1723970
• Math proficiency: 2% ▼ -3.50%
• Reading proficiency: 4% ▼ -4.00%
• Median HH income: $23,597
• Composite: 1.5/100
• National rank: #10107
• State rank: #619 of 620 in IL

Livability — Madison

• Score: 62/100
• State rank: #861
• US rank: #16841

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Madison, IL
• City population: 3,619
• Population (ZIP): 3,619

Population outlook (Madison County) Hauer SSP2

• Today (2025): 258,371 people
• By 2030: 251,523 · -2.7%
• By 2040: 233,640 · -9.6%
• By 2050: 213,042 · -17.5%
• By 2075: 165,255 · -36.0%
• By 2100: 123,953 · -52.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (66%)
• Race & ethnicity: Black 66% White 23% Two or more races 10% Hispanic / Latino 4%
• Common ancestry: Romanian 2% Portuguese 1% Serbian 1%
• Foreign-born: 5% · Canada
• Languages at home: 95% English-only · Spanish 5%

Political lean MEDSL · Madison

• 2024 margin: R (+13.3) · D 42.5% · R 55.8% · Other 1.8%
• 2008→2024 swing: -22.5pp toward R · 2008: 9.2pp · 2024: -13.3pp
• All cycles: 2024: R+13.3 2020: R+13.2 2016: R+15.6 2012: R+1.4 2008: D+9.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -4.03%
• Current HPI: 197.5454
• 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

+376.6% since first listed

12 events — show timeline

• 2026-04-28 Relisted — MARIS as Distributed by MLS Grid
• 2026-04-28 Price Changed $112,000 MARIS as Distributed by MLS Grid
• 2026-04-13 Pending — MARIS as Distributed by MLS Grid
• 2026-03-16 Relisted — MARIS as Distributed by MLS Grid
• 2026-03-10 Contingent — MARIS as Distributed by MLS Grid
• 2026-02-20 Listed $125,000 MARIS as Distributed by MLS Grid
• 2026-02-20 Coming Soon $125,000 MARIS as Distributed by MLS Grid
• 2015-01-16 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2014-12-05 Listed $14,500 MARIS as Distributed by MLS Grid
• 2000-04-06 Sold (Public Records) $23,500 Public Records
• 2000-04-06 Sold (Public Records) $23,500 Public Records
• 2000-04-06 Sold (Public Records) $23,500 Public Records

Property tax history

+5.6%/yr

Latest (2024): $2,282 · +7.2% YoY. Source: county tax records.