617 W Washington St · Paris, IL 61944

$49,999

4 bd · 1.0 ba · 1,212 sqft · SingleFamily · 39 Days on market

Built 1900 7,388 sqft lot Est $98k · 49% 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 +3.6/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 617 W Washington A Great Opportunity for First-Time Buyers or Investors! With a little TLC, this charming four-bedroom home is full of potential perfect as a starter home or a rental property. The flexible layout includes two bedrooms on the main floor and two more upstairs, offering space for families, guests, or even a home office. The bathroom features a convenient Jack-and-Jill style design with a tub/shower combo. The fenced-in backyard is ideal for gatherings, pets, or outdoor fun, and a handy storage shed is included perfect for lawn equipment or additional storage needs. This home also comes equipped with essential appliances: refrigerator, range, & dishwasher saving

Key facts

• Peaceful corner lot
• Fenced-in backyard
• Essential appliances

Tags

• FENCED-IN BACKYARD
• JACK-AND-JILL STYLE DESIGN
• HANDY STORAGE SHED
• ESSENTIAL APPLIANCES
• PEACEFUL CORNER LOT

Property features AI

Exterior

• Parking: 1-car garage; 1-car carport
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One-level / single-story
• Construction: Vinyl siding; Shingle roof; Built as a one-story (year built not provided)
• Exterior features: Fenced yard; Shed(s) / outbuilding; Gravel road access

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bedrooms: 6 total rooms (bedroom count not specified)
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas forced air heating; Window air conditioning units
• Interior features: Dishwasher; Gas water heater; Range; Refrigerator; Crawl space basement
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $512 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.
• Cap rate 18.6% vs local median 8.3% in Paris — 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 71/100 on livability (#342 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, crime F, amenities F.
• Paris-Union SD 95 (town): math 25% / reading 42% proficiency, ranked #227 of 620 in IL (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Memorial Elementary School (286 students, 0% FRL); Mayo Middle School (math 30% / reading 54%, grade D-, #116 of 665 statewide, top 19%, 250 students, 0% FRL); Paris Cooperative High School 95 (math 8% / reading 22%, grade F, #473 of 693 statewide, top 69%, 367 students, 0% FRL) — zoned schools average 0% FRL vs 53% district-wide (53 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 83 active listings in the ZIP; 6 units permitted in Edgar County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $345 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Edgar County population projected at -30% 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 $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.
• Current owner paid $39k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $48,499 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Crime grade is F 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: 2.30% ✓
• Cap rate: 18.58%
• Cash-on-cash: 43.88%
• DSCR: 2.95
• GRM: 3.6

CMA / ARV

• ARV (on-the-fly): $98,172
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
423 W Carroll St	0.33mi	3/1.0 (-1)	1,230 (+2%)	1mo	$54,000	$44	76
815 W Madison St	0.19mi	3/1.0 (-1)	1,164 (-4%)	13mo	$112,000	$96	69
903 W Crawford St	0.29mi	3/1.0 (-1)	1,104 (-9%)	3mo	$90,000	$82	64
305 W Crawford St	0.36mi	3/2.0 (-1)	1,287 (+6%)	2mo	$143,000	$111	62
914 W Elizabeth St	0.39mi	3/1.0 (-1)	1,300 (+7%)	4mo	$77,000	$59	62
805 S Jefferson St	0.55mi	3/1.0 (-1)	1,206 (-0%)	14mo	$20,000	$17	56
216 N Austin St	0.24mi	3/1.0 (-1)	1,072 (-12%)	20mo	$86,500	$81	48

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: 40.9%
• Equity multiple: 2.75×
• Total profit: $24,552
• Equity at exit: $7,455

10-year hold

• IRR: 47.1%
• Equity multiple: 5.54×
• Total profit: $63,559
• Equity at exit: $4,323

Cash invested: $14,000 (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 61944

• Active inventory: 83
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,148 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$112 /mo · $1,347/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$241
• Net cashflow: $512

Break-even live

Break-even rent $500

Max offer price $49,999

Occupancy floor 50%

Sensitivity live

Price	-10% $540	-5% $526	+0% $512	+5% $498	+10% $484
Rent	-10% $421	-5% $467	+0% $512	+5% $557	+10% $603
Rate	-1.0pp $537	-0.5pp $525	base $512	+0.5pp $499	+1.0pp $486

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-05-11
   status Pending
2. 2026-04-22
   historical Active Under Contract
3. 2026-04-02
   listed $49,999 Active
4. 2025-09-21
   price $54,900
5. 2025-08-25
   listed $59,900 Active
6. 2009-03-31
   soldstatus $39,000

ⓘ 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: $1,347 · $112/mo
• Projected year-2 tax: $1,347 · $112/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 ≥105°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,781
• − Mortgage interest: −$2,801
• − Property taxes: −$1,347
• − Insurance: −$250
• − Repairs & maintenance: −$1,102
• − Management: −$1,102
• − Depreciation: −$1,455
• Taxable income: $5,723
• Est. tax owed @ 24.0%: −$1,374
• After-tax cash flow: $4,770/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: Paris-Union SD 95
• NCES district ID: 1730750
• Math proficiency: 25% ▼ -4.00%
• Reading proficiency: 42% ▼ -7.00%
• Median HH income: $36,294
• Composite: 27.73/100
• National rank: #6901
• State rank: #227 of 620 in IL

Livability — Paris

• Score: 71/100
• State rank: #342
• US rank: #6933

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Paris, IL
• City population: 11,426
• Population (ZIP): 11,426

Population outlook (Edgar County) Hauer SSP2

• Today (2025): 15,960 people
• By 2030: 14,978 · -6.2%
• By 2040: 12,990 · -18.6%
• By 2050: 11,087 · -30.5%
• By 2075: 7,338 · -54.0%
• By 2100: 4,526 · -71.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Slovak 2% Serbian 2% Italian 1%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 1% Other Indo-European 1%

Political lean MEDSL · Edgar

• 2024 margin: Solid R (+52.4) · D 23.0% · R 75.3% · Other 1.7%
• 2008→2024 swing: -44.4pp toward R · 2008: -7.9pp · 2024: -52.4pp
• All cycles: 2024: R+52.4 2020: R+52.5 2016: R+49.5 2012: R+32.8 2008: R+7.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -66.48%
• Current HPI: 108.1718
• 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

+28.2% since first listed

6 events — show timeline

• 2026-05-11 Pending — CIBR
• 2026-04-22 Contingent — CIBR
• 2026-04-02 Listed $49,999 CIBR
• 2025-09-21 Price Changed $54,900 CIBR
• 2025-08-25 Listed $59,900 CIBR
• 2009-03-31 Sold (Public Records) $39,000 Public Records

Property tax history

+1.8%/yr

Latest (2024): $1,347 · +4.7% YoY. Source: county tax records.