431 W 6th St · Mount Carmel, IL 62863

$109,900

2 bd · 1.0 ba · 1,193 sqft · Other · 2 Days on market

Built 1915 5,506 sqft lot

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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 +21.5/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• 1% rule +4.4/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0

Listing remarks

Charming 2-bedroom, 1-bath home on a large corner lot! This well-maintained property offers 1,193 square feet of living space with an open floor plan, hardwood flooring in the living room, vinyl plank flooring throughout much of the home, and an updated kitchen with appliances included. Both bedrooms are generously sized, and the spacious bathroom offers convenient access from both a bedroom and the kitchen. Additional features include vinyl replacement windows, central air, PEX plumbing, a partial basement, covered front porch, rear deck, and a 22' x 16' attached garage with automatic overhead door.

Key facts

• Hardwood flooring
• Open floor plan
• Updated kitchen

Tags

• CORNER LOT
• OPEN FLOOR PLAN
• HARDWOOD FLOORING
• VINYL PLANK FLOORING
• UPDATED KITCHEN
• VINYL REPLACEMENT WINDOWS

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Site-built, single story
• Construction: Vinyl siding
• Exterior features: Corner lot; Lot dimensions approximately 58 ft by 95 ft

Interior

• Bedrooms: Bedrooms located on the main level
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Partial, unfinished basement; Total of 5 rooms
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $110k.

Deal economics

• At list price, monthly cash flow is $165 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $104k (5.8% below list).
• Recommended offer: $104k (5.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 64/100 on livability (#700 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A; Watch: amenities F, commute F, employment D-.
• Wabash CUSD 348 (town): math 14% / reading 20% proficiency, ranked #478 of 620 in IL (top 77%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Mt Carmel Grade School (math 13% / reading 14%, grade F, #1,354 of 2,056 statewide, top 66%, 395 students, 0% FRL); Mt Carmel Junior High School (math 12% / reading 32%, grade F, #389 of 665 statewide, top 60%, 202 students, 0% FRL) — zoned schools average 0% FRL vs 41% district-wide (41 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 18 active listings in the ZIP; 2 units permitted in Wabash County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($760 loan paydown + $11k appreciation (10.0% local appreciation)).
• Wabash County population projected at -23% 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 $31k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $103,551 (5.8% below list)

Questions for the listing agent

1. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.94% ✗
• Cap rate: 8.10%
• Cash-on-cash: 6.44%
• DSCR: 1.29
• GRM: 8.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 28.9%
• Equity multiple: 3.29×
• Total profit: $70,323
• Equity at exit: $99,007

10-year hold

• IRR: 25.1%
• Equity multiple: 7.46×
• Total profit: $198,719
• Equity at exit: $213,512

Cash invested: $30,772 (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 62863

• Home prices YoY: 10.9%
• Active inventory: 18
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,036 medium
• Mortgage (P&I): −$576
• Tax from tax record: −$31 /mo · $369/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$217
• Net cashflow: $165

Break-even live

Break-even rent $826

Max offer price $109,900

Occupancy floor 79%

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-18
   days on market $109,900 Active 2 DOM
2. 2026-06-17
   remarks 607-char remark
3. 2026-06-17
   listed $109,900 Active 1 DOM

ⓘ 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: $369 · $31/mo
• Projected year-2 tax: $1,432 · $119/mo
• Expected delta: +$1,063/yr (+$89/mo · 287.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥108°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: $12,426
• − Mortgage interest: −$6,156
• − Property taxes: −$369
• − Insurance: −$550
• − Repairs & maintenance: −$994
• − Management: −$994
• − Depreciation: −$3,197
• Taxable income: $166
• Est. tax owed @ 24.0%: −$40
• After-tax cash flow: $1,942/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: Wabash CUSD 348
• NCES district ID: 1740470
• Math proficiency: 14% ▼ -12.00%
• Reading proficiency: 20% ▼ -20.00%
• Median HH income: $45,869
• Composite: 15.01/100
• National rank: #9359
• State rank: #478 of 620 in IL

Livability — Mount Carmel

• Score: 64/100
• State rank: #700
• US rank: #14280

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mount Carmel, IL
• Population (ZIP): 9,438

Population outlook (Wabash County) Hauer SSP2

• Today (2025): 10,660 people
• By 2030: 10,134 · -4.9%
• By 2040: 9,122 · -14.4%
• By 2050: 8,212 · -23.0%
• By 2075: 6,435 · -39.6%
• By 2100: 4,890 · -54.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 2% Asian 1% Black 1%
• Common ancestry: Lithuanian 2% Slovak 2% Italian 2%
• Foreign-born: 2% · South Korea, Canada
• Languages at home: 97% English-only · Spanish 2% Korean 1%

Political lean MEDSL · Wabash

• 2024 margin: Solid R (+53.8) · D 22.3% · R 76.2% · Other 1.5%
• 2008→2024 swing: -40.1pp toward R · 2008: -13.7pp · 2024: -53.8pp
• All cycles: 2024: R+53.8 2020: R+53.2 2016: R+53.6 2012: R+36.8 2008: R+13.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 27.59%
• Current HPI: 280.61
• 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

• 2026-06-16 Listed $109,900 IRMLS

Property tax history

-12.6%/yr

Latest (2025): $369 · +30.1% YoY. Source: county tax records.