311 Colfax St · Mount Olive, IL 62069

$50,000

4 bd · 2.0 ba · 1,800 sqft · SingleFamily · 203 Days on market

Built 1979 0.32 ac lot $28/sqft · 71% below area ↓ 49% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0

Listing remarks MLS

Double Lot Spacious yard with Detached oversized garage in town, with plenty of Parking. Bi-Level. Perfect investment property 3 Bedrooms on the upper level with additional living in the lower level. 2 Full baths. Home will need some TLC.

Key facts

• Spacious yard
• Plenty of parking
• Double lot

Tags

• DOUBLE LOT
• SPACIOUS YARD
• DETACHED OVERSIZED GARAGE
• PLENTY OF PARKING
• BI-LEVEL
• INVESTMENT PROPERTY

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $560 ($7k/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: $44k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#937 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: employment D+, schools F, amenities F.
• Mount Olive CUSD 5 (rural): math 16% / reading 17% proficiency, ranked #483 of 620 in IL (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 21 active listings in the ZIP; 70 units permitted in Macoupin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($346 loan paydown + $5k appreciation (10.0% local appreciation)).
• Macoupin County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, 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 203 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 16y ago; this cycle's ask has dropped $10k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.7% of price.

Recommended offer $44,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 203 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 1979 — 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 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?
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: 2.52% ✓
• Cap rate: 19.74%
• Cash-on-cash: 48.02%
• DSCR: 3.14
• GRM: 3.3

CMA / ARV

• ARV (median comp): $174,266
• List price: $50,000
• Delta: -71.31%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
505 Colfax St	0.14mi	3/2.0 (-1)	1,830 (+2%)	12mo	$249,900	$137	76
111 W 4th South St	0.34mi	3/2.0 (-1)	1,843 (+2%)	2mo	$125,000	$68	73
306 E Putnam St	0.20mi	3/1.0 (-1)	1,659 (-8%)	1mo	$227,500	$137	68
109 W 2nd St S	0.42mi	4/2.0	1,700 (-6%)	11mo	$192,000	$113	62
407 Benton St	0.08mi	4/2.0	1,600 (-11%)	19mo	$258,600	$162	62
211 S Lake St	0.58mi	3/1.0 (-1)	1,870 (+4%)	0mo	$145,000	$78	57
302 W 6th St S	0.40mi	3/1.5 (-1)	1,920 (+7%)	15mo	$190,000	$99	51
113 E Benton St	0.17mi	4/1.0	1,559 (-13%)	23mo	$116,000	$74	47
301 E 3rd North St	0.66mi	3/1.5 (-1)	1,650 (-8%)	6mo	$174,900	$106	44
211 W 2nd S	0.49mi	3/2.0 (-1)	1,568 (-13%)	22mo	$114,900	$73	33

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 62.0%
• Equity multiple: 5.50×
• Total profit: $62,988
• Equity at exit: $45,044

10-year hold

• IRR: 55.5%
• Equity multiple: 12.26×
• Total profit: $157,577
• Equity at exit: $97,139

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 62069

• Home prices YoY: 12.0%
• Active inventory: 21
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $1,261 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$153 /mo · $1,833/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$265
• Net cashflow: $560

Break-even live

Break-even rent $552

Max offer price $50,000

Occupancy floor 51%

Sensitivity live

Price	-10% $589	-5% $574	+0% $560	+5% $546	+10% $532
Rent	-10% $461	-5% $510	+0% $560	+5% $610	+10% $660
Rate	-1.0pp $585	-0.5pp $573	base $560	+0.5pp $547	+1.0pp $534

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 20 events

1. 2026-06-09
   statusdays on market $50,000 Pending 203 DOM
2. 2026-06-08
   days on market $50,000 Active 202 DOM
3. 2026-06-07
   days on market $50,000 Active 201 DOM
4. 2026-06-04
   days on market $50,000 Active 197 DOM
5. 2026-06-02
   days on market $50,000 Active 196 DOM
6. 2026-06-01
   days on market $50,000 Active 195 DOM
7. 2026-05-31
   days on market $50,000 Active 194 DOM
8. 2026-05-31
   days on market $50,000 Active 193 DOM
9. 2026-04-24
   status Active 239-char remark

   Show marketing remark (239 chars)

   Double Lot Spacious yard with Detached oversized garage in town, with plenty of Parking. Bi-Level. Perfect investment property 3 Bedrooms on the upper level with additional living in the lower level. 2 Full baths. Home will need some TLC.

10. 2026-03-26
    status Pending 239-char remark

    Show marketing remark (239 chars)

    Double Lot Spacious yard with Detached oversized garage in town, with plenty of Parking. Bi-Level. Perfect investment property 3 Bedrooms on the upper level with additional living in the lower level. 2 Full baths. Home will need some TLC.

11. 2026-03-25
    historical Active Under Contract 239-char remark

    Show marketing remark (239 chars)

    Double Lot Spacious yard with Detached oversized garage in town, with plenty of Parking. Bi-Level. Perfect investment property 3 Bedrooms on the upper level with additional living in the lower level. 2 Full baths. Home will need some TLC.

12. 2026-01-12
    price $50,000 239-char remark

    Show marketing remark (239 chars)

    Double Lot Spacious yard with Detached oversized garage in town, with plenty of Parking. Bi-Level. Perfect investment property 3 Bedrooms on the upper level with additional living in the lower level. 2 Full baths. Home will need some TLC.

13. 2025-10-21
    listed $60,000 Active 239-char remark

    Show marketing remark (239 chars)

    Double Lot Spacious yard with Detached oversized garage in town, with plenty of Parking. Bi-Level. Perfect investment property 3 Bedrooms on the upper level with additional living in the lower level. 2 Full baths. Home will need some TLC.

14. 2025-10-21
    historical $60,000 239-char remark

    Show marketing remark (239 chars)

    Double Lot Spacious yard with Detached oversized garage in town, with plenty of Parking. Bi-Level. Perfect investment property 3 Bedrooms on the upper level with additional living in the lower level. 2 Full baths. Home will need some TLC.

15. 2021-08-06
    historical
16. 2011-12-01
    soldstatus $65,000
17. 2011-06-16
    soldstatus $40,500
18. 2011-06-01
    soldstatus $40,500
19. 2010-12-23
    listed $47,500
20. 2008-07-21
    soldstatus $97,747

ⓘ 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: $1,833 · $153/mo
• Projected year-2 tax: $1,833 · $153/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 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 100% 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: $15,129
• − Mortgage interest: −$2,801
• − Property taxes: −$1,833
• − Insurance: −$250
• − Repairs & maintenance: −$1,210
• − Management: −$1,210
• − Depreciation: −$1,455
• Taxable income: $6,370
• Est. tax owed @ 24.0%: −$1,529
• After-tax cash flow: $5,194/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: Mount Olive CUSD 5
• NCES district ID: 1727180
• Math proficiency: 16% ▼ -21.00%
• Reading proficiency: 17% ▼ -18.00%
• Median HH income: $46,749
• Composite: 14.7/100
• National rank: #9402
• State rank: #483 of 620 in IL

Livability — Mount Olive

• Score: 61/100
• State rank: #937
• US rank: #18221

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mount Olive, IL
• Population (ZIP): 3,102

Population outlook (Macoupin County) Hauer SSP2

• Today (2025): 42,867 people
• By 2030: 40,796 · -4.8%
• By 2040: 36,135 · -15.7%
• By 2050: 31,469 · -26.6%
• By 2075: 22,102 · -48.4%
• By 2100: 15,380 · -64.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 3%
• Common ancestry: Lithuanian 2% Iranian 2% Romanian 2%
• Foreign-born: 1%

Political lean MEDSL · Macoupin

• 2024 margin: Solid R (+39.2) · D 29.4% · R 68.7% · Other 1.9%
• 2008→2024 swing: -49.0pp toward R · 2008: 9.8pp · 2024: -39.2pp
• All cycles: 2024: R+39.2 2020: R+36.5 2016: R+35.0 2012: R+7.0 2008: D+9.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 21.34%
• Current HPI: 199.5
• 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

-48.8% since first listed

12 events — show timeline

• 2026-04-24 Relisted — MARIS as Distributed by MLS Grid
• 2026-03-26 Pending — MARIS as Distributed by MLS Grid
• 2026-03-25 Contingent — MARIS as Distributed by MLS Grid
• 2026-01-12 Price Changed $50,000 MARIS as Distributed by MLS Grid
• 2025-10-21 Listed $60,000 MARIS as Distributed by MLS Grid
• 2025-10-21 Coming Soon $60,000 MARIS as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2011-12-01 Sold (Public Records) $65,000 Public Records
• 2011-06-16 Sold (MLS) $40,500 RMLSA as Distributed by MLS Grid
• 2011-06-01 Sold (Public Records) $40,500 Public Records
• 2010-12-23 Listed $47,500 RMLSA as Distributed by MLS Grid
• 2008-07-21 Sold (Public Records) $97,747 Public Records

Property tax history

+1.8%/yr

Latest (2024): $1,833 · +4.9% YoY. Source: county tax records.