102 W Effingham Ave · Patoka, IL 62875

$85,500

2 bd · 1.0 ba · 1,352 sqft · SingleFamily · 62 Days on market

Built 1957 9,148 sqft lot $63/sqft · 25% below area Est $114k · 25% under

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Why this score? — see what drove the A- 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
• DSCR +10.0/10.0
• Appreciation +9.5/10.0
• 1% rule +7.9/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0

Listing remarks MLS

Charming and well-maintained 2-bedroom, 1-bath home offering 1,352 square feet of comfortable living space! This inviting property features a spacious layout with plenty of natural light throughout. Enjoy relaxing mornings on the welcoming front porch and unwind in the evenings on the private back patio—perfect for entertaining or quiet outdoor living. The fully fenced yard provides space for pets, gardening, or play, and includes a convenient garden shed for additional storage. A detached 2-car garage offers ample room for vehicles, tools, or a workshop. Whether you're a first-time buyer, downsizing, or looking for a move-in-ready home, this property combines comfort, functionality, and outdoor appeal. Don’t miss your opportunity to make it yours!

Key facts

• Front porch
• Garden shed
• Fully fenced yard

Tags

• FRONT PORCH
• BACK PATIO
• FULLY FENCED YARD
• GARDEN SHED
• DETACHED GARAGE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $86k.

Deal economics

• At list price, monthly cash flow is $329 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $86k).
• Recommended offer: $80k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#597 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Patoka CUSD 100 (rural): math 10% / reading 20% proficiency, ranked #765 of 919 in IL (top 83%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 6 active listings in the ZIP; 2 units permitted in Marion County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($591 loan paydown + $8k appreciation (9.0% local appreciation)).
• Marion County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (9.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($80k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $80,370 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.29% ✓
• Cap rate: 10.91%
• Cash-on-cash: 16.50%
• DSCR: 1.73
• GRM: 6.4

CMA / ARV

• ARV (median comp): $113,754
• List price: $85,500
• Delta: -24.84%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
107 S Washington St	0.42mi	3/1.0 (+1)	1,170 (-14%)	6mo	$130,000	$111	48
309 E Clinton St	0.40mi	2/2.0	1,178 (-13%)	12mo	$75,000	$64	46

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

8.98% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 34.7%
• Equity multiple: 3.57×
• Total profit: $61,641
• Equity at exit: $70,766

10-year hold

• IRR: 30.3%
• Equity multiple: 7.84×
• Total profit: $163,813
• Equity at exit: $146,405

Cash invested: $23,940 (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 62875

• Home prices YoY: 5.9%
• Active inventory: 6
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,105 medium
• Mortgage (P&I): −$448
• Tax from tax record: −$60 /mo · $721/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$232
• Net cashflow: $329

Break-even live

Break-even rent $689

Max offer price $85,500

Occupancy floor 65%

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: $21,375
• Closing costs: $2,565
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $85,500 Active 62 DOM
2. 2026-06-17
   days on market $85,500 Active 61 DOM
3. 2026-06-16
   days on market $85,500 Active 60 DOM
4. 2026-06-15
   days on market $85,500 Active 59 DOM
5. 2026-06-13
   days on market $85,500 Active 57 DOM
6. 2026-06-12
   days on market $85,500 Active 56 DOM
7. 2026-06-09
   days on market $85,500 Active 53 DOM
8. 2026-06-08
   days on market $85,500 Active 52 DOM
9. 2026-06-07
   days on market $85,500 Active 51 DOM
10. 2026-06-05
    days on market $85,500 Active 49 DOM
11. 2026-06-04
    days on market $85,500 Active 47 DOM
12. 2026-06-02
    days on market $85,500 Active 46 DOM
13. 2026-06-01
    days on market $85,500 Active 45 DOM
14. 2026-05-31
    days on market $85,500 Active 44 DOM
15. 2026-05-31
    days on market $85,500 Active 43 DOM
16. 2026-04-17
    listed $87,500 Active 770-char remark

    Show marketing remark (770 chars)

    Charming and well-maintained 2-bedroom, 1-bath home offering 1,352 square feet of comfortable living space! This inviting property features a spacious layout with plenty of natural light throughout. Enjoy relaxing mornings on the welcoming front porch and unwind in the evenings on the private back patio—perfect for entertaining or quiet outdoor living. The fully fenced yard provides space for pets, gardening, or play, and includes a convenient garden shed for additional storage. A detached 2-car garage offers ample room for vehicles, tools, or a workshop. Whether you're a first-time buyer, downsizing, or looking for a move-in-ready home, this property combines comfort, functionality, and outdoor appeal. Don’t miss your opportunity to make it yours!

ⓘ 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: $721 · $60/mo
• Projected year-2 tax: $1,331 · $111/mo
• Expected delta: +$610/yr (+$51/mo · 84.6%)

ⓘ 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 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,266
• − Mortgage interest: −$4,789
• − Property taxes: −$721
• − Insurance: −$428
• − Repairs & maintenance: −$1,061
• − Management: −$1,061
• − Depreciation: −$2,487
• Taxable income: $2,718
• Est. tax owed @ 24.0%: −$652
• After-tax cash flow: $3,299/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: Patoka CUSD 100
• NCES district ID: 1730870
• Math proficiency: 10% ▬ 0.00%
• Reading proficiency: 20% ▲ 5.00%
• Median HH income: $50,283
• Composite: 17.22/100
• National rank: #14167
• State rank: #765 of 919 in IL

Livability — Patoka

• Score: 66/100
• State rank: #597
• US rank: #12390

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Patoka, IL
• Population (ZIP): 1,091

Population outlook (Marion County) Hauer SSP2

• Today (2025): 36,071 people
• By 2030: 34,598 · -4.1%
• By 2040: 31,754 · -12.0%
• By 2050: 28,912 · -19.8%
• By 2075: 22,527 · -37.5%
• By 2100: 16,455 · -54.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 3% Hispanic / Latino 3%
• Common ancestry: Lithuanian 6% Serbian 2% Slovak 1%
• Foreign-born: 0% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Marion

• 2024 margin: Solid R (+49.5) · D 24.6% · R 74.1% · Other 1.4%
• 2008→2024 swing: -47.5pp toward R · 2008: -2.0pp · 2024: -49.5pp
• All cycles: 2024: R+49.5 2020: R+46.6 2016: R+44.9 2012: R+19.2 2008: R+2.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.98%
• Current HPI: 162.2619
• 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

1 event — show timeline

• 2026-04-17 Listed $87,500 CIBR

Property tax history

+0.1%/yr

Latest (2021): $721 · -1.2% YoY. Source: county tax records.