13 Park Ests · Sparta, IL 62286

$42,000

3 bd · 2.0 ba · 1,520 sqft · SingleFamily · 162 Days on market

Built 2002

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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
• ARV discount +7.5/15.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

**ECONOMICAL LIVING** Come check out this very nice doublewide at Park Estates. 2002 Oakwood features split bedroom plan with nice sized rooms and 2 large full baths. Entertain on the large back deck just off the kitchen. All appliances stay with the home including washer and dryer. Master bedroom has walk in closet for storage. Home also comes with a shed and a carport. Located in a good spot, his home has much to offer for a very affordable price.

Key facts

• 2 parking spots
• Built 2002
• Listed 162 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $42k.

Deal economics

• At list price, monthly cash flow is $491 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($989 rent vs $42k).
• Recommended offer: $37k (12.0% below list) — sets the bar for market timing.
• Cap rate 20.3% vs local median 6.7% in Sparta — 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 58/100 on livability (#1,090 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime B+; Watch: employment C-, schools F, amenities F.
• Sparta CUSD 140 (town): math 13% / reading 14% proficiency, ranked #535 of 620 in IL (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 31 active listings in the ZIP; 3 units permitted in Randolph County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $290 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Randolph County population projected at -14% 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 $12k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 162 days — a 12% lower offer ($37k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 11y ago; this cycle's ask has dropped $20k (32%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $36,960 (12.0% below list)

Questions for the listing agent

1. It's been on market 162 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 2.35% ✓
• Cap rate: 20.32%
• Cash-on-cash: 50.11%
• DSCR: 3.23
• GRM: 3.5

CMA / ARV

• ARV (on-the-fly): $167,200
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
515 S Market St	0.58mi	3/1.5	1,326 (-13%)	9mo	$160,000	$121	42
104 E 4th St	0.57mi	3/2.5	1,700 (+12%)	14mo	$170,000	$100	40
335 S Market St	0.71mi	2/1.0 (-1)	1,530 (+1%)	22mo	$35,000	$23	39
321 S Market St	0.74mi	3/1.0	1,337 (-12%)	4mo	$147,500	$110	38

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: 47.8%
• Equity multiple: 3.08×
• Total profit: $24,485
• Equity at exit: $6,262

10-year hold

• IRR: 53.5%
• Equity multiple: 6.24×
• Total profit: $61,654
• Equity at exit: $3,631

Cash invested: $11,760 (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 62286

• Home prices YoY: -31.0%
• Active inventory: 31
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $989 medium
• Mortgage (P&I): −$220
• Tax est. 1.5%: −$52 /mo · $630/yr
• Insurance: −$18
• HOA: −$0
• Vacancy / Maint / Mgmt: −$208
• Net cashflow: $491

Break-even live

Break-even rent $367

Max offer price $42,000

Occupancy floor 45%

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: $10,500
• Closing costs: $1,260
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $42,000 Active 162 DOM
2. 2026-06-17
   days on market $42,000 Active 161 DOM
3. 2026-06-16
   days on market $42,000 Active 160 DOM
4. 2026-06-15
   days on market $42,000 Active 159 DOM
5. 2026-06-13
   days on market $42,000 Active 157 DOM
6. 2026-06-12
   days on market $42,000 Active 156 DOM
7. 2026-06-09
   days on market $42,000 Active 153 DOM
8. 2026-06-08
   days on market $42,000 Active 152 DOM
9. 2026-06-07
   days on market $42,000 Active 151 DOM
10. 2026-06-07
    days on market $42,000 Active 150 DOM
11. 2026-06-04
    days on market $42,000 Active 147 DOM
12. 2026-06-02
    days on market $42,000 Active 146 DOM
13. 2026-06-01
    days on market $42,000 Active 145 DOM
14. 2026-05-31
    days on market $42,000 Active 144 DOM
15. 2026-05-31
    days on market $42,000 Active 143 DOM
16. 2026-01-07
    listed $62,000 Active
17. 2015-12-04
    soldstatus 458-char remark

    Show marketing remark (458 chars)

    **ECONOMICAL LIVING** Come check out this very nice doublewide at Park Estates. 2002 Oakwood features split bedroom plan with nice sized rooms and 2 large full baths. Entertain on the large back deck just off the kitchen. All appliances stay with the home including washer and dryer. Master bedroom has walk in closet for storage. Home also comes with a shed and a carport. Located in a good spot, his home has much to offer for a very affordable price.

18. 2015-08-15
    listed $29,800 458-char remark

    Show marketing remark (458 chars)

    **ECONOMICAL LIVING** Come check out this very nice doublewide at Park Estates. 2002 Oakwood features split bedroom plan with nice sized rooms and 2 large full baths. Entertain on the large back deck just off the kitchen. All appliances stay with the home including washer and dryer. Master bedroom has walk in closet for storage. Home also comes with a shed and a carport. Located in a good spot, his home has much to offer for a very affordable price.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥106°F today · 21 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: $11,868
• − Mortgage interest: −$2,353
• − Property taxes: −$630
• − Insurance: −$210
• − Repairs & maintenance: −$949
• − Management: −$949
• − Depreciation: −$1,222
• Taxable income: $5,555
• Est. tax owed @ 24.0%: −$1,333
• After-tax cash flow: $4,560/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: Sparta CUSD 140
• NCES district ID: 1736900
• Math proficiency: 13% ▼ -10.00%
• Reading proficiency: 14% ▼ -13.00%
• Median HH income: $43,992
• Composite: 11.95/100
• National rank: #9668
• State rank: #535 of 620 in IL

Livability — Sparta

• Score: 58/100
• State rank: #1090
• US rank: #20732

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 5,482
• Population (ZIP): 5,482

Population outlook (Randolph County) Hauer SSP2

• Today (2025): 31,417 people
• By 2030: 30,519 · -2.9%
• By 2040: 28,841 · -8.2%
• By 2050: 27,150 · -13.6%
• By 2075: 22,569 · -28.2%
• By 2100: 16,584 · -47.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Black 10% Two or more races 7% Hispanic / Latino 3%
• Common ancestry: Serbian 9% Lithuanian 2% Slovak 2%
• Languages at home: 99% English-only · French/Haitian/Cajun 1%

Political lean MEDSL · Randolph

• 2024 margin: Solid R (+50.0) · D 24.1% · R 74.1% · Other 1.7%
• 2008→2024 swing: -49.0pp toward R · 2008: -0.9pp · 2024: -50.0pp
• All cycles: 2024: R+50.0 2020: R+50.2 2016: R+46.8 2012: R+17.6 2008: R+0.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -52.47%
• Current HPI: 116.6798
• 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

+108.1% since first listed

3 events — show timeline

• 2026-01-07 Listed $62,000 MARIS as Distributed by MLS Grid
• 2015-12-04 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2015-08-15 Listed $29,800 MARIS as Distributed by MLS Grid