1330 Spring St · Quincy, IL 62301

$99,000

4 bd · 2.0 ba · 1,864 sqft · SingleFamily · 102 Days on market

6,032 sqft lot $53/sqft · 17% below area Est $119k · 17% 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
• Rent growth +5.0/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Attention investors! Prime investment opportunity in Quincy. This up-and-down duplex at 1330 Spring Street is ready for renovations and offers strong income potential once updated. Conveniently located just minutes from Blessing Hospital and Quincy University. This property needs work and is being sold as-is with inspections welcome, making it ideal for investors, flippers, or landlords looking to build equity and generate rental income. With the right improvements, this duplex could become a solid cash-flowing asset.

Key facts

• 6,032 sq ft lot
• 2 parking spots
• Listed 101 days

Tags

• INVESTMENT OPPORTUNITY
• STRONG INCOME POTENTIAL
• GENERATE RENTAL INCOME
• SOLID CASH FLOWING ASSET

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $594 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $99k).
• Recommended offer: $90k (9.0% below list) — sets the bar for market timing.
• Cap rate 13.5% 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: Rents rising fast (+10.8%/yr); 180 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 68 units permitted in Adams County in 2024 (0 in 5+ unit buildings).
• This rent runs 38% of the median local income ($52k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $684 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• 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 + 8.0% rent growth), your $28k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 102 days — a 9% lower offer ($90k) is reasonable based on typical stale-listing flexibility.

Recommended offer $90,090 (9.0% below list)

Questions for the listing agent

1. It's been on market 102 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: 1.68% ✓
• Cap rate: 13.49%
• Cash-on-cash: 25.70%
• DSCR: 2.14
• GRM: 5.0

CMA / ARV

• ARV (median comp): $118,776
• List price: $99,000
• Delta: -16.65%
• Verdict: UNDERPRICED
• Comps: 18 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1843 Spring St	0.47mi	3/2.0 (-1)	1,992 (+7%)	1mo	$214,000	$107	61
1519 Oak St	0.18mi	3/2.0 (-1)	1,634 (-12%)	7mo	$160,000	$98	60
1513 Spruce St	0.73mi	3/2.0 (-1)	1,850 (-1%)	1mo	$62,000	$34	59
724 N 22nd St	0.74mi	4/2.5	1,883 (+1%)	8mo	$176,500	$94	55
2215 Oak St	0.73mi	3/2.0 (-1)	1,836 (-2%)	6mo	$229,900	$125	53
1251 Kentucky St	0.59mi	4/2.0	2,135 (+14%)	2mo	$183,500	$86	46
2223 Oak St	0.74mi	4/1.5	1,721 (-8%)	8mo	$250,000	$145	44
837 N 16th	0.38mi	3/1.0 (-1)	1,590 (-15%)	8mo	$158,000	$99	42
2079 Vermont St	0.69mi	3/2.0 (-1)	1,641 (-12%)	2mo	$179,500	$109	41
2026 Hampshire St	0.63mi	3/2.0 (-1)	1,595 (-14%)	1mo	$245,000	$154	41
815 Kentucky St	0.75mi	4/2.0	2,120 (+14%)	6mo	$137,500	$65	38
1030 N 8th St	0.71mi	3/1.0 (-1)	1,695 (-9%)	8mo	$125,000	$74	36

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 25.1%
• Equity multiple: 2.10×
• Total profit: $30,615
• Equity at exit: $14,761

10-year hold

• IRR: 35.9%
• Equity multiple: 5.17×
• Total profit: $115,563
• Equity at exit: $8,560

Cash invested: $27,720 (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 62301

• Rents YoY: 10.8%
• Active inventory: 180
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,664 medium
• Mortgage (P&I): −$519
• Tax from tax record: −$160 /mo · $1,921/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$349
• Net cashflow: $594

Break-even live

Break-even rent $912

Max offer price $99,000

Occupancy floor 59%

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
116 N 3rd St Quincy, IL	1.0–4.0	1.0–2.0	1950	$5,600	$2.87	43d	12	0.98mi

Listing history 16 events

1. 2026-06-19
   days on market $99,000 Active 102 DOM
2. 2026-06-18
   days on market $99,000 Active 101 DOM
3. 2026-06-17
   days on market $99,000 Active 100 DOM
4. 2026-06-16
   days on market $99,000 Active 99 DOM
5. 2026-06-15
   days on market $99,000 Active 98 DOM
6. 2026-06-14
   days on market $99,000 Active 96 DOM
7. 2026-06-12
   days on market $99,000 Active 95 DOM
8. 2026-06-09
   days on market $99,000 Active 92 DOM
9. 2026-06-08
   days on market $99,000 Active 91 DOM
10. 2026-06-07
    days on market $99,000 Active 90 DOM
11. 2026-06-03
    days on market $99,000 Active 86 DOM
12. 2026-06-02
    days on market $99,000 Active 85 DOM
13. 2026-06-01
    days on market $99,000 Active 84 DOM
14. 2026-05-31
    days on market $99,000 Active 83 DOM
15. 2026-05-30
    days on market $99,000 Active 82 DOM
16. 2026-03-09
    listed $110,000 Active 524-char remark

    Show marketing remark (524 chars)

    Attention investors! Prime investment opportunity in Quincy. This up-and-down duplex at 1330 Spring Street is ready for renovations and offers strong income potential once updated. Conveniently located just minutes from Blessing Hospital and Quincy University. This property needs work and is being sold as-is with inspections welcome, making it ideal for investors, flippers, or landlords looking to build equity and generate rental income. With the right improvements, this duplex could become a solid cash-flowing asset.

ⓘ 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: $1,921 · $160/mo
• Projected year-2 tax: $2,084 · $174/mo
• Expected delta: +$163/yr (+$14/mo · 8.5%)

ⓘ 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: $19,963
• − Mortgage interest: −$5,546
• − Property taxes: −$1,921
• − Insurance: −$495
• − Repairs & maintenance: −$1,597
• − Management: −$1,597
• − Depreciation: −$2,880
• Taxable income: $5,928
• Est. tax owed @ 24.0%: −$1,423
• After-tax cash flow: $5,703/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
• County: Adams County · 30,746 people
• City population: 30,746
• Metro: Quincy, IL-MO
• Population (ZIP): 30,746
• Household income: $52,055
• Rent vs Own: 41.1% rent · 58.9% own
• Severe rent burden: 1238.0

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%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 7% Black 6% Hispanic / Latino 3% Asian 1%
• Common ancestry: Slovak 2% Iranian 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Adams

• 2024 margin: Solid R (+47.4) · D 25.6% · R 73.0% · Other 1.5%
• 2008→2024 swing: -25.0pp toward R · 2008: -22.4pp · 2024: -47.4pp
• All cycles: 2024: R+47.4 2020: R+46.5 2016: R+47.5 2012: R+35.2 2008: R+22.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -121.44%
• Current HPI: 131.7344
• Rent YoY: ▲ 10.78%
• Metro: Quincy, IL-MO
• 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

1 event — show timeline

• 2026-03-09 Listed $110,000 RMLSA as Distributed by MLS Grid

Property tax history

+3.6%/yr

Latest (2023): $1,921 · +7.3% YoY. Source: county tax records.