6 Reed Ct · Jerome, IL 62704

$65,000

2 bd · 1.0 ba · 750 sqft · SingleFamily

Est $98k · 33% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.7/5.0
• Rent growth +4.1/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 2 Br Ranch Is In Perfect Move In Condition Situated On A Quiet Cul-De-Sac With Easy To Maintain Lawn. Kit Features New Oak Cabinets, Counter Tops, Dishwasher, Disposal & Ceremic Tile Flooring. New Bath With European Style Sink/Vanity. Brand New Carpeting Throughtout Entire Home. Roof, Furnace, C/A & Electrical Service Also New.

Key facts

• Garage

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $426 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).

Location & tenants

• Location reads 93/100 on livability (#1 in IL, #17 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, commute A+; Watch: employment C-.
• Springfield SD 186 (urban): math 17% / reading 22% proficiency, ranked #438 of 620 in IL (top 71%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+6.3%/yr); 177 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% of comp listings sitting > 30 days — soft ceiling on asking rent; 225 units permitted in Sangamon County in 2024 (48 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Sangamon County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 6.3% rent growth), your $18k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 23y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $65,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
3. 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.
4. 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.
5. 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: 1.69% ✓
• Cap rate: 14.16%
• Cash-on-cash: 28.10%
• DSCR: 2.25
• GRM: 4.9

CMA / ARV

• ARV (on-the-fly): $97,500
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2 Reed Ct	0.04mi	2/1.0	749 (-0%)	9mo	$144,000	$192	90
13 Barbara Ct	0.03mi	2/1.0	750 (0%)	12mo	$90,000	$120	89
20 W Grand Ct	0.14mi	2/1.0	746 (-0%)	9mo	$115,000	$154	85
1529 W Reed Ave	0.12mi	2/1.0	784 (+4%)	10mo	$149,000	$190	78
10 Reed Ct	0.03mi	2/1.0	846 (+13%)	1mo	$110,000	$130	76
1530 Homewood Ave	0.18mi	2/1.0	840 (+12%)	16mo	$89,900	$107	58
1516 W Glenn St	0.16mi	2/2.0	840 (+12%)	21mo	$152,000	$181	51
2617 S Glenwood Ave	0.60mi	1/1.0 (-1)	750 (0%)	21mo	$38,000	$51	50
2901 S Glenwood Ave	0.59mi	1/1.0 (-1)	800 (+7%)	20mo	$57,500	$72	40

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 · 6.32% rent growth · sell at horizon

5-year hold

• IRR: 26.0%
• Equity multiple: 2.12×
• Total profit: $20,420
• Equity at exit: $9,692

10-year hold

• IRR: 35.6%
• Equity multiple: 4.82×
• Total profit: $69,477
• Equity at exit: $5,620

Cash invested: $18,200 (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 62704

• Home prices YoY: -31.1%
• Rents YoY: 6.3%
• Active inventory: 177
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,101 high
• Mortgage (P&I): −$341
• Tax from tax record: −$76 /mo · $907/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $426

Break-even live

Break-even rent $561

Max offer price $65,000

Occupancy floor 56%

Sensitivity live

Price	-10% $463	-5% $445	+0% $426	+5% $408	+10% $389
Rent	-10% $339	-5% $383	+0% $426	+5% $470	+10% $513
Rate	-1.0pp $459	-0.5pp $443	base $426	+0.5pp $409	+1.0pp $392

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2715 S MacArthur Blvd Unit 01 Springfield, IL	2.0	1.5	935	$975	$1.04	44d	1	0.30mi
12 Douglas Ct Springfield, IL	3.0	1.0	1000	$1,300	$1.30	22d	1	0.49mi
1666 Seven Pines Rd Springfield, IL	1.0–4.0	1.0–1.5	1025	$1,167	$1.14	22d	1	0.66mi
9 Candlelight Dr Springfield, IL	1.0–3.0	1.0–2.0	980	$1,256	$1.28	22d	20	0.82mi
2119 Saratoga Dr Unit 3 Springfield, IL	2.0	1.0	800	$925	$1.16	44d	1	1.20mi
3116 Concord Dr Springfield, IL	2.0	1.0	944	$950	$1.01	44d	1	1.21mi
2300 Lombard Ave Unit 2300 Lombard Springfield, IL	2.0	1.0	1100	$1,350	$1.23	22d	1	1.24mi
1500 S Lowell Ave Springfield, IL	1.0	1.0	590	$775	$1.31	44d	1	1.40mi
604 Bryn Mawr Blvd Springfield, IL	2.0	1.0	850	$1,100	$1.29	44d	1	1.49mi

Listing history 7 events

1. 2026-05-22
   listed $65,000
2. 2026-05-22
   historical
3. 2003-12-22
   soldstatus $63,500
4. 2003-12-15
   soldstatus $63,500 342-char remark

   Show marketing remark (342 chars)

   This 2 Br Ranch Is In Perfect Move In Condition Situated On A Quiet Cul-De-Sac With Easy To Maintain Lawn. Kit Features New Oak Cabinets, Counter Tops, Dishwasher, Disposal & Ceremic Tile Flooring. New Bath With European Style Sink/Vanity. Brand New Carpeting Throughtout Entire Home. Roof, Furnace, C/A & Electrical Service Also New.

5. 2003-11-03
   listed $65,000 342-char remark

   Show marketing remark (342 chars)

   This 2 Br Ranch Is In Perfect Move In Condition Situated On A Quiet Cul-De-Sac With Easy To Maintain Lawn. Kit Features New Oak Cabinets, Counter Tops, Dishwasher, Disposal & Ceremic Tile Flooring. New Bath With European Style Sink/Vanity. Brand New Carpeting Throughtout Entire Home. Roof, Furnace, C/A & Electrical Service Also New.

6. 2003-07-10
   soldstatus $40,000 163-char remark

   Show marketing remark (163 chars)

   Ideal Home For Downsizing, Starter, And Investment. Located On A Quiet Cul De Sac With Mature Trees In Jerome. Needs Some Tlc And Updating But Has Great Potential.

7. 2003-05-17
   listed $51,900 163-char remark

   Show marketing remark (163 chars)

   Ideal Home For Downsizing, Starter, And Investment. Located On A Quiet Cul De Sac With Mature Trees In Jerome. Needs Some Tlc And Updating But Has Great Potential.

ⓘ 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: $907 · $76/mo
• Projected year-2 tax: $1,191 · $99/mo
• Expected delta: +$284/yr (+$24/mo · 31.3%)

ⓘ 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 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: $13,210
• − Mortgage interest: −$3,641
• − Property taxes: −$907
• − Insurance: −$325
• − Repairs & maintenance: −$1,057
• − Management: −$1,057
• − Depreciation: −$1,891
• Taxable income: $4,333
• Est. tax owed @ 24.0%: −$1,040
• After-tax cash flow: $4,074/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: Springfield SD 186
• NCES district ID: 1737080
• Math proficiency: 17% ▼ -7.00%
• Reading proficiency: 22% ▼ -5.00%
• Median HH income: $43,744
• Composite: 16.89/100
• National rank: #9142
• State rank: #438 of 620 in IL

Livability — Jerome

• Score: 93/100
• State rank: #1
• US rank: #17

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Jerome, IL
• County: Sangamon County · 115,414 people
• City population: 59,955
• Metro: Springfield, IL
• Population (ZIP): 40,046
• Household income: $69,976
• Rent vs Own: 38.0% rent · 62.0% own
• Severe rent burden: 1529.0

Population outlook (Sangamon County) Hauer SSP2

• Today (2025): 198,317 people
• By 2030: 196,127 · -1.1%
• By 2040: 188,664 · -4.9%
• By 2050: 179,624 · -9.4%
• By 2075: 155,027 · -21.8%
• By 2100: 122,588 · -38.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Black 15% Two or more races 5% Hispanic / Latino 4% Asian 4%
• Common ancestry: Lithuanian 2% Romanian 2% Slovak 2%
• Foreign-born: 6% · Canada, China, Vietnam
• Languages at home: 92% English-only · Spanish 2% Other Indo-European 1% Tagalog/Filipino 1%

Political lean MEDSL · Sangamon

• 2024 margin: Toss-up / Even · D 46.6% · R 51.6% · Other 1.8%
• 2008→2024 swing: -9.3pp toward R · 2008: 4.4pp · 2024: -5.0pp
• All cycles: 2024: R+5.0 2020: R+4.4 2016: R+9.4 2012: R+8.7 2008: D+4.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -70.79%
• Current HPI: 156.7086
• Rent YoY: ▲ 6.32%
• Metro: Springfield, IL
• 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

+25.2% since first listed

7 events — show timeline

• 2026-05-22 Listing Removed — RMLSA as Distributed by MLS Grid
• 2026-05-22 Listed $65,000 RMLSA as Distributed by MLS Grid
• 2003-12-22 Sold (Public Records) $63,500 Public Records
• 2003-12-15 Sold (MLS) $63,500 RMLSA as Distributed by MLS Grid
• 2003-11-03 Listed $65,000 RMLSA as Distributed by MLS Grid
• 2003-07-10 Sold (MLS) $40,000 RMLSA as Distributed by MLS Grid
• 2003-05-17 Listed $51,900 RMLSA as Distributed by MLS Grid

Property tax history

-3.1%/yr

Latest (2024): $907 · -5.6% YoY. Source: county tax records.