17 Springwater Dr · Jacksonville, IL 62650

$124,000

5 bd · 3.0 ba · 2,274 sqft · SingleFamily · 227 Days on market

Built 1977 0.71 ac lot $55/sqft · 56% below area ↓ 29% 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 +21.2/30.0
• 1% rule +7.7/10.0
• ARV discount +7.5/15.0
• DSCR +6.7/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Attention Investors! 3 Bedroom, 3 bath Ranch with walk out basement and lake views! So Much Potential! Property is available to view by appointment. See offer instructions below. See agent remarks for offer details.

Key facts

• 0.71 acre lot
• 2 garage spots
• Built 1977

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath single-family listed at $124k.

Deal economics

• At list price, monthly cash flow is $178 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $124k).
• Recommended offer: $109k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 5.4% in Jacksonville — 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 76/100 on livability (#187 in IL, #3,543 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, amenities C-, schools D.
• Jacksonville SD 117 (town): math 20% / reading 23% proficiency, ranked #407 of 620 in IL (top 66%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 141 active listings in the ZIP; 3 units permitted in Morgan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $857 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Morgan County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 227 days — a 12% lower offer ($109k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $65k (34%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.6% of price.

Recommended offer $109,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 227 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 8.02%
• Cash-on-cash: 6.16%
• DSCR: 1.27
• GRM: 6.5

CMA / ARV

• ARV (median comp): $280,000
• List price: $124,000
• Delta: -55.71%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1 Quail Ln	0.14mi	4/2.5 (-1)	2,359 (+4%)	14mo	$318,000	$135	68

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: -6.7%
• Equity multiple: 0.75×
• Total profit: $-8,584
• Equity at exit: $18,489

10-year hold

• IRR: 3.1%
• Equity multiple: 1.22×
• Total profit: $7,775
• Equity at exit: $10,721

Cash invested: $34,720 (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 62650

• Active inventory: 141
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,580 medium
• Mortgage (P&I): −$650
• Tax from tax record: −$368 /mo · $4,414/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$332
• Net cashflow: $178

Break-even live

Break-even rent $1,354

Max offer price $124,000

Occupancy floor 84%

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: $31,000
• Closing costs: $3,720
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-18
   days on market $124,000 Active 227 DOM
2. 2026-06-17
   days on market $124,000 Active 226 DOM
3. 2026-06-16
   days on market $124,000 Active 225 DOM
4. 2026-06-15
   days on market $124,000 Active 224 DOM
5. 2026-06-13
   days on market $124,000 Active 222 DOM
6. 2026-06-12
   days on market $124,000 Active 221 DOM
7. 2026-06-09
   pricedays on market $124,000 Active 218 DOM
8. 2026-06-08
   days on market $134,000 Active 217 DOM
9. 2026-06-07
   days on market $134,000 Active 216 DOM
10. 2026-06-07
    days on market $134,000 Active 215 DOM
11. 2026-06-04
    days on market $134,000 Active 212 DOM
12. 2026-06-03
    status $134,000 Active 211 DOM
13. 2026-06-02
    days on market $134,000 Under Contract 211 DOM
14. 2026-06-01
    days on market $134,000 Under Contract 210 DOM
15. 2026-05-31
    days on market $134,000 Under Contract 209 DOM
16. 2026-05-31
    days on market $134,000 Under Contract 208 DOM
17. 2026-05-17
    historical Under Contract 220-char remark

    Show marketing remark (220 chars)

    Attention Investors! 3 Bedroom, 3 bath Ranch with walk out basement and lake views! So Much Potential! Property is available to view by appointment. See offer instructions below. See agent remarks for offer details.

18. 2026-04-15
    price $134,000 220-char remark

    Show marketing remark (220 chars)

    Attention Investors! 3 Bedroom, 3 bath Ranch with walk out basement and lake views! So Much Potential! Property is available to view by appointment. See offer instructions below. See agent remarks for offer details.

19. 2026-02-12
    status Active 220-char remark

    Show marketing remark (220 chars)

    Attention Investors! 3 Bedroom, 3 bath Ranch with walk out basement and lake views! So Much Potential! Property is available to view by appointment. See offer instructions below. See agent remarks for offer details.

20. 2026-01-27
    price $143,910 220-char remark

    Show marketing remark (220 chars)

    Attention Investors! 3 Bedroom, 3 bath Ranch with walk out basement and lake views! So Much Potential! Property is available to view by appointment. See offer instructions below. See agent remarks for offer details.

21. 2025-12-31
    price $159,900 220-char remark

    Show marketing remark (220 chars)

    Attention Investors! 3 Bedroom, 3 bath Ranch with walk out basement and lake views! So Much Potential! Property is available to view by appointment. See offer instructions below. See agent remarks for offer details.

22. 2025-12-02
    price $172,500 220-char remark

    Show marketing remark (220 chars)

    Attention Investors! 3 Bedroom, 3 bath Ranch with walk out basement and lake views! So Much Potential! Property is available to view by appointment. See offer instructions below. See agent remarks for offer details.

23. 2025-10-27
    listed $189,000 Active 220-char remark

    Show marketing remark (220 chars)

    Attention Investors! 3 Bedroom, 3 bath Ranch with walk out basement and lake views! So Much Potential! Property is available to view by appointment. See offer instructions below. See agent remarks for offer details.

24. 2021-08-06
    historical
25. 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: $4,414 · $368/mo
• Projected year-2 tax: $4,414 · $368/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 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $18,958
• − Mortgage interest: −$6,946
• − Property taxes: −$4,414
• − Insurance: −$620
• − Repairs & maintenance: −$1,517
• − Management: −$1,517
• − Depreciation: −$3,607
• Taxable income: $337
• Est. tax owed @ 24.0%: −$81
• After-tax cash flow: $2,058/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: Jacksonville SD 117
• NCES district ID: 1720280
• Math proficiency: 20% ▼ -3.00%
• Reading proficiency: 23% ▼ -6.00%
• Median HH income: $44,909
• Composite: 18.66/100
• National rank: #8888
• State rank: #407 of 620 in IL

Livability — Jacksonville

• Score: 76/100
• State rank: #187
• US rank: #3543

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 24,318
• Population (ZIP): 24,318

Population outlook (Morgan County) Hauer SSP2

• Today (2025): 32,874 people
• By 2030: 31,698 · -3.6%
• By 2040: 29,050 · -11.6%
• By 2050: 26,381 · -19.8%
• By 2075: 20,235 · -38.4%
• By 2100: 14,324 · -56.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Black 7% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Lithuanian 2% Slovak 1% Iranian 1%
• Foreign-born: 1% · Canada, South Korea
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Morgan

• 2024 margin: Solid R (+32.5) · D 33.1% · R 65.6% · Other 1.3%
• 2008→2024 swing: -31.7pp toward R · 2008: -0.8pp · 2024: -32.5pp
• All cycles: 2024: R+32.5 2020: R+31.8 2016: R+29.9 2012: R+15.4 2008: R+0.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -84.33%
• Current HPI: 126.5712
• 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

-29.1% since first listed

9 events — show timeline

• 2026-05-17 Contingent — RMLSA as Distributed by MLS Grid
• 2026-04-15 Price Changed $134,000 RMLSA as Distributed by MLS Grid
• 2026-02-12 Relisted — RMLSA as Distributed by MLS Grid
• 2026-01-27 Price Changed $143,910 RMLSA as Distributed by MLS Grid
• 2025-12-31 Price Changed $159,900 RMLSA as Distributed by MLS Grid
• 2025-12-02 Price Changed $172,500 RMLSA as Distributed by MLS Grid
• 2025-10-27 Listed $189,000 RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid

Property tax history

+2.9%/yr

Latest (2024): $4,414 · +1.4% YoY. Source: county tax records.