2050 Broadway St · Quincy, IL 62301-3224

$99,500

2 bd · 1.0 ba · 1,296 sqft · SingleFamily · 108 Days on market

7,425 sqft lot $77/sqft · 39% below area Est $163k · 39% under ↓ 12% since listing

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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 +19.1/30.0
• ARV discount +15.0/15.0
• 1% rule +6.1/10.0
• DSCR +6.0/10.0
• Appreciation +5.0/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0

Listing remarks MLS

Charming classic bungalow with fantastic curb appeal and a welcoming covered front porch, with alley access! This home offers spacious rooms throughout, creating a comfortable and functional layout. The kitchen features a nice pantry with built-in cabinetry for added storage and character. Just off the primary bedroom, you’ll find a cozy 7x8 sitting area, perfect for a reading nook, office space along with an updated bathroom. Original Hardwood floors below vinyl floors. A large, expandable floored attic provides excellent potential to easily finish for additional square footage. Outside, enjoy the convenience of a small garage/storage shed. Centrally located with Broadway frontage, this property offers great visibility and accessibility. Major updates completed in 2019 include a new furnace and updated electrical with 200 amp service. Property is being sold AS-IS. Tenant occupied – 24-hour notice required for all showings.

Key facts

• Covered front porch
• Cozy sitting area
• Nice pantry

Tags

• COVERED FRONT PORCH
• NICE PANTRY
• COZY SITTING AREA
• UPDATED BATHROOM
• EXPANDABLE FLOORED ATTIC
• SMALL GARAGE STORAGE SHED

🏷️ Possibly a rental listed for sale. The $99,500 price doesn't fit this home's estimated sale value (~$163,415) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $106 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $91k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.6% vs local median 4.3% in Quincy — 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 67/100 on livability (#506 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D+, crime D, employment D.
• Quincy SD 172 (town): math 24% / reading 27% proficiency, ranked #328 of 620 in IL (top 53%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 1 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 68 units permitted in Adams County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($688 loan paydown + $3k appreciation (3.0% local appreciation)).
• Adams 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 $28k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 108 days — a 9% lower offer ($91k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y ago; this cycle's ask has dropped $6k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $90,545 (9.0% below list)

Questions for the listing agent

1. It's been on market 108 days. Have you received any prior offers? Is the seller open to a 9% 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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.11% ✓
• Cap rate: 7.58%
• Cash-on-cash: 4.58%
• DSCR: 1.20
• GRM: 7.5

CMA / ARV

• ARV (median comp): $163,415
• List price: $99,500
• Delta: -39.11%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
223 N 22nd	0.10mi	3/2.0 (+1)	1,208 (-7%)	3mo	$180,000	$149	73
2219 Lind St	0.47mi	3/1.0 (+1)	1,339 (+3%)	0mo	$165,000	$123	67
2727 College Ave	0.62mi	2/1.0	1,245 (-4%)	3mo	$150,000	$120	62
2526 Chestnut St	0.62mi	3/1.0 (+1)	1,296 (0%)	8mo	$165,000	$127	60
2045 Chestnut	0.55mi	2/1.0	1,218 (-6%)	6mo	$102,500	$84	59
2061 Lind St	0.46mi	2/2.0	1,385 (+7%)	6mo	$169,900	$123	58
2807 College Ave	0.68mi	2/1.0	1,250 (-4%)	6mo	$157,000	$126	57
2611 Chestnut St	0.70mi	2/1.0	1,214 (-6%)	0mo	$145,000	$119	57
2042 Elm St	0.35mi	3/2.0 (+1)	1,401 (+8%)	6mo	$149,000	$106	56
1406 Hampshire St	0.62mi	2/1.0	1,413 (+9%)	1mo	$135,000	$96	55
1512 Chestnut St	0.73mi	3/1.0 (+1)	1,280 (-1%)	6mo	$143,000	$112	54
1633 Chestnut St	0.67mi	3/1.0 (+1)	1,180 (-9%)	2mo	$145,000	$123	47

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: 11.8%
• Equity multiple: 1.68×
• Total profit: $18,822
• Equity at exit: $44,740

10-year hold

• IRR: 13.9%
• Equity multiple: 3.07×
• Total profit: $57,617
• Equity at exit: $68,949

Cash invested: $27,860 (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 62301-3224

• Active inventory: 1
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,102 medium
• Mortgage (P&I): −$522
• Tax from tax record: −$201 /mo · $2,410/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $106

Break-even live

Break-even rent $967

Max offer price $99,500

Occupancy floor 85%

Sensitivity live

Price	-10% $163	-5% $134	+0% $106	+5% $78	+10% $50
Rent	-10% $19	-5% $63	+0% $106	+5% $150	+10% $193
Rate	-1.0pp $156	-0.5pp $132	base $106	+0.5pp $81	+1.0pp $54

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: $24,875
• Closing costs: $2,985
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3100 State St Quincy, IL	2.0	1.0	1000	$785	$0.79	44d	1	1.08mi
201 S 8th St Quincy, IL	2.0	2.5	1785	$1,800	$1.01	44d	1	1.17mi
500 Maine St Quincy, IL	1.0	1.0	937	$700	$0.75	44d	1	1.40mi

Listing history 26 events

1. 2026-06-19
   days on market $99,500 Active 108 DOM
2. 2026-06-18
   days on market $99,500 Active 107 DOM
3. 2026-06-18
   price $99,500 Active 106 DOM
4. 2026-06-17
   days on market $105,000 Active 106 DOM
5. 2026-06-16
   days on market $105,000 Active 105 DOM
6. 2026-06-15
   days on market $105,000 Active 104 DOM
7. 2026-06-14
   days on market $105,000 Active 102 DOM
8. 2026-06-12
   days on market $105,000 Active 101 DOM
9. 2026-06-09
   days on market $105,000 Active 98 DOM
10. 2026-06-08
    days on market $105,000 Active 97 DOM
11. 2026-06-07
    days on market $105,000 Active 96 DOM
12. 2026-06-03
    days on market $105,000 Active 92 DOM
13. 2026-06-02
    days on market $105,000 Active 91 DOM
14. 2026-06-01
    days on market $105,000 Active 90 DOM
15. 2026-05-31
    days on market $105,000 Active 89 DOM
16. 2026-05-30
    days on market $105,000 Active 88 DOM
17. 2026-03-02
    listed $105,000 Active 953-char remark

    Show marketing remark (953 chars)

    Charming classic bungalow with fantastic curb appeal and a welcoming covered front porch, with alley access! This home offers spacious rooms throughout, creating a comfortable and functional layout. The kitchen features a nice pantry with built-in cabinetry for added storage and character. Just off the primary bedroom, you’ll find a cozy 7x8 sitting area, perfect for a reading nook, office space along with an updated bathroom. Original Hardwood floors below vinyl floors. A large, expandable floored attic provides excellent potential to easily finish for additional square footage. Outside, enjoy the convenience of a small garage/storage shed. Centrally located with Broadway frontage, this property offers great visibility and accessibility. Major updates completed in 2019 include a new furnace and updated electrical with 200 amp service. Property is being sold AS-IS. Tenant occupied – 24-hour notice required for all showings.

18. 2025-06-29
    historical
19. 2025-06-29
    historical
20. 2025-06-28
    historical
21. 2024-06-26
    price $110,000
22. 2024-06-26
    price
23. 2022-09-27
    historical
24. 2022-04-28
    listed Active
25. 2022-04-28
    listed $120,000 Active
26. 2022-04-28
    listed Active

ⓘ 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: $2,410 · $201/mo
• Projected year-2 tax: $2,410 · $201/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 ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,222
• − Mortgage interest: −$5,574
• − Property taxes: −$2,410
• − Insurance: −$498
• − Repairs & maintenance: −$1,058
• − Management: −$1,058
• − Depreciation: −$2,895
• Taxable loss: −$270
• Est. tax savings @ 24.0%: +$65
• After-tax cash flow: $1,341/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: Quincy SD 172
• NCES district ID: 1733000
• Math proficiency: 24% ▬ 0.00%
• Reading proficiency: 27% ▬ 0.00%
• Median HH income: $44,132
• Composite: 21.91/100
• National rank: #8229
• State rank: #328 of 620 in IL

Livability — Quincy

• Score: 67/100
• State rank: #506
• US rank: #10458

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Quincy, IL

Population outlook (Adams County) Hauer SSP2

• Today (2025): 65,795 people
• By 2030: 64,436 · -2.1%
• By 2040: 61,007 · -7.3%
• By 2050: 56,851 · -13.6%
• By 2075: 46,424 · -29.4%
• By 2100: 34,305 · -47.9%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

-12.5% since first listed

10 events — show timeline

• 2026-03-02 Listed $105,000 RMLSA as Distributed by MLS Grid
• 2025-06-29 Listing Removed — RMLSA as Distributed by MLS Grid
• 2025-06-29 Listing Removed — MRED as Distributed by MLS Grid
• 2025-06-28 Listing Removed — MRED as Distributed by MLS Grid
• 2024-06-26 Price Changed $110,000 Quincy AOR
• 2024-06-26 Price Changed — RMLSA as Distributed by MLS Grid
• 2022-09-27 Listing Removed — RMLSA as Distributed by MLS Grid
• 2022-04-28 Listed — MRED as Distributed by MLS Grid
• 2022-04-28 Listed $120,000 Quincy AOR
• 2022-04-28 Listed — RMLSA as Distributed by MLS Grid

Property tax history

+2.5%/yr

Latest (2023): $2,410 · +5.8% YoY. Source: county tax records.