34 W Walnut St · Albion, IL 62806

$84,000

2 bd · 1.0 ba · 815 sqft · Other · 127 Days on market

Built 1945 0.33 ac 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 +20.5/30.0
• ARV discount +7.5/15.0
• DSCR +6.5/10.0
• Appreciation +6.5/10.0
• 1% rule +5.2/10.0
• Livability +3.4/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome to this delightful 2-bedroom, 1-bathroom gem, thoughtfully refurbished and ready to enchant homeowners seeking comfort and character! Enjoy morning coffee on either of the enclosed porches, or enjoy a peaceful place to relax at the end of the day! The seamless flow from the cozy living area to the dining space and kitchen creates an inviting atmosphere, ideal for both daily living and entertaining. The updated kitchen provides plenty of cabinets and a custom island for food prep and additional storage, as well as, an elevated bar providing an open view into the kitchen. Take the entertainment outside to the spacious back yard waiting for the new homeowners personal touches! Don't miss this opportunity to make this wonderful home your own!

Key facts

• Basement
• Large acre lot
• Updated bathroom

Tags

• LARGE ACRE LOT
• FULLY ENCLOSED FRONT PORCH
• UPDATED BATHROOM
• BASEMENT

Property features AI

Exterior

• Security: Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story
• Construction: Vinyl siding construction; Asphalt shingle roof; Built as a one-story home
• Exterior features: Asphalt shingle roof; Vinyl siding; Gravel road access; Shed(s); Lot approximately 0.33 acres (60 x 241)

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Oven; Refrigerator; Gas water heater
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating with forced air; Central air conditioning
• Interior features: Dishwasher; Disposal; Gas water heater; Microwave; Oven; Refrigerator; Smoke detector(s); Unfinished full basement
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $84k.

Deal economics

• At list price, monthly cash flow is $110 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($860 rent vs $84k).
• Recommended offer: $74k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#534 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.
• Edwards County CUSD 1 (rural): math 30% / reading 45% proficiency, ranked #171 of 620 in IL (top 28%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 3 active listings in the ZIP.

Forward outlook

• In year one you build about $3k of equity ($581 loan paydown + $2k appreciation (2.9% local appreciation)).
• Edwards County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.9% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 127 days — a 12% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago 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.

Risks & watch-outs

• Watch-outs: built in 1945 — 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 $73,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 127 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 1945 — 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: 1.02% ✓
• Cap rate: 7.86%
• Cash-on-cash: 5.61%
• DSCR: 1.25
• GRM: 8.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.92% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 12.5%
• Equity multiple: 1.71×
• Total profit: $16,791
• Equity at exit: $37,407

10-year hold

• IRR: 14.6%
• Equity multiple: 3.14×
• Total profit: $50,402
• Equity at exit: $57,368

Cash invested: $23,520 (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 62806

• Home prices YoY: 2.6%
• Active inventory: 3
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $860 medium
• Mortgage (P&I): −$441
• Tax from tax record: −$94 /mo · $1,130/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$181
• Net cashflow: $110

Break-even live

Break-even rent $721

Max offer price $84,000

Occupancy floor 82%

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: $21,000
• Closing costs: $2,520
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-05-20
   status Pending
2. 2026-04-30
   historical Active Under Contract
3. 2026-03-18
   price $84,000
4. 2026-01-13
   listed $86,000 Active
5. 2024-09-13
   soldstatus $82,500 Closed 761-char remark

   Show marketing remark (761 chars)

   Welcome to this delightful 2-bedroom, 1-bathroom gem, thoughtfully refurbished and ready to enchant homeowners seeking comfort and character! Enjoy morning coffee on either of the enclosed porches, or enjoy a peaceful place to relax at the end of the day! The seamless flow from the cozy living area to the dining space and kitchen creates an inviting atmosphere, ideal for both daily living and entertaining. The updated kitchen provides plenty of cabinets and a custom island for food prep and additional storage, as well as, an elevated bar providing an open view into the kitchen. Take the entertainment outside to the spacious back yard waiting for the new homeowners personal touches! Don't miss this opportunity to make this wonderful home your own!

6. 2024-09-11
   soldstatus $80,500
7. 2024-07-12
   historical Contingent - No Showings 761-char remark

   Show marketing remark (761 chars)

   Welcome to this delightful 2-bedroom, 1-bathroom gem, thoughtfully refurbished and ready to enchant homeowners seeking comfort and character! Enjoy morning coffee on either of the enclosed porches, or enjoy a peaceful place to relax at the end of the day! The seamless flow from the cozy living area to the dining space and kitchen creates an inviting atmosphere, ideal for both daily living and entertaining. The updated kitchen provides plenty of cabinets and a custom island for food prep and additional storage, as well as, an elevated bar providing an open view into the kitchen. Take the entertainment outside to the spacious back yard waiting for the new homeowners personal touches! Don't miss this opportunity to make this wonderful home your own!

8. 2024-06-11
   listed $85,000 Active 761-char remark

   Show marketing remark (761 chars)

   Welcome to this delightful 2-bedroom, 1-bathroom gem, thoughtfully refurbished and ready to enchant homeowners seeking comfort and character! Enjoy morning coffee on either of the enclosed porches, or enjoy a peaceful place to relax at the end of the day! The seamless flow from the cozy living area to the dining space and kitchen creates an inviting atmosphere, ideal for both daily living and entertaining. The updated kitchen provides plenty of cabinets and a custom island for food prep and additional storage, as well as, an elevated bar providing an open view into the kitchen. Take the entertainment outside to the spacious back yard waiting for the new homeowners personal touches! Don't miss this opportunity to make this wonderful home your own!

9. 2011-08-08
   soldstatus $25,000

ⓘ 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: $1,130 · $94/mo
• Projected year-2 tax: $1,518 · $127/mo
• Expected delta: +$388/yr (+$32/mo · 34.4%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥109°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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,324
• − Mortgage interest: −$4,705
• − Property taxes: −$1,130
• − Insurance: −$420
• − Repairs & maintenance: −$826
• − Management: −$826
• − Depreciation: −$2,444
• Taxable loss: −$26
• Est. tax savings @ 24.0%: +$6
• After-tax cash flow: $1,327/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: Edwards County CUSD 1
• NCES district ID: 1713500
• Math proficiency: 30% ▬ 0.00%
• Reading proficiency: 45% ▼ -4.00%
• Median HH income: $44,218
• Composite: 31.81/100
• National rank: #5881
• State rank: #171 of 620 in IL

Livability — Albion

• Score: 67/100
• State rank: #534
• US rank: #11082

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Albion, IL
• Population (ZIP): 3,438

Population outlook (Edwards County) Hauer SSP2

• Today (2025): 5,985 people
• By 2030: 5,661 · -5.4%
• By 2040: 5,008 · -16.3%
• By 2050: 4,411 · -26.3%
• By 2075: 3,269 · -45.4%
• By 2100: 2,423 · -59.5%

Race, ethnicity, and origin ACS 2023

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

Political lean MEDSL · Edwards

• 2024 margin: Solid R (+71.1) · D 13.9% · R 85.0% · Other 1.1%
• 2008→2024 swing: -41.3pp toward R · 2008: -29.8pp · 2024: -71.1pp
• All cycles: 2024: R+71.1 2020: R+69.6 2016: R+70.8 2012: R+51.1 2008: R+29.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.92%
• Current HPI: 115.695
• 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

+236.0% since first listed

9 events — show timeline

• 2026-05-20 Pending — CIBR
• 2026-04-30 Contingent — CIBR
• 2026-03-18 Price Changed $84,000 CIBR
• 2026-01-13 Listed $86,000 CIBR
• 2024-09-13 Sold (MLS) $82,500 MRED as Distributed by MLS Grid
• 2024-09-11 Sold (Public Records) $80,500 Public Records
• 2024-07-12 Contingent — MRED as Distributed by MLS Grid
• 2024-06-11 Listed $85,000 MRED as Distributed by MLS Grid
• 2011-08-08 Sold (Public Records) $25,000 Public Records

Property tax history

+5.8%/yr

Latest (2024): $1,130 · +87.7% YoY. Source: county tax records.