1416 Madison St · Quincy, IL 62301

$170,000

3 bd · 1.0 ba · 1,215 sqft · SingleFamily · 22 Days on market

Built 1962 9,583 sqft lot Est $148k · 15% over

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Why this score? — see what drove the D+ 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 +19.9/30.0
• DSCR +6.3/10.0
• 1% rule +5.3/10.0
• Rent growth +5.0/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• ARV discount +0.9/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fantastic move in ready home! Major updates throughout since 2017: flooring, wiring, plumbing, vinyl windows, new kitchen cabinets, appliances and back splash. 2020 had new siding, soffit, fascia and gutters. This home has an open concept. Main floor laundry. Large lot with detached 2 car over sized garage. Roof was 2010.

Key facts

• Open floor plan
• Updated siding
• Updated kitchen

Tags

• OPEN FLOOR PLAN
• UPDATED KITCHEN
• UPDATED SIDING

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Built in 1962
• Construction: Shingle roof; No basement
• Exterior features: Replacement windows; Level lot; Lot dimensions approximately 50 x 190

Interior

• Kitchen: Dishwasher; Refrigerator
• Bedrooms: Three bedrooms (all on the main level)
• Flooring: Carpet in bedrooms; Luxury vinyl plank in living room and kitchen; Tile in laundry
• Bathrooms: One full bathroom
• Heating & cooling: Central air conditioning; Forced air heating; Gas water heater
• Interior features: Ceiling fans
• Laundry & utility: Main-level laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $207 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Recommended offer: $167k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.8% vs local median 4.3% in Quincy — 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 67/100 on livability (#506 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D, employment D, amenities D-.
• Quincy SD 172 (town): math 24% / reading 27% proficiency, ranked #328 of 620 in IL (top 53%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Sarah Atwater Denman Elem (math 21% / reading 22%, grade F, #1,017 of 2,056 statewide, top 50%, 500 students, 0% FRL); Quincy Sr High School (math 21% / reading 28%, grade F, #256 of 693 statewide, top 44%, 1,924 students, 0% FRL) — zoned schools average 0% FRL vs 48% district-wide (48 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+10.8%/yr); 180 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 68 units permitted in Adams County in 2024 (0 in 5+ unit buildings).
• This rent runs 40% of the median local income ($52k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Adams 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 + 8.0% rent growth), your $48k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 24y 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.
• Current owner paid $125k; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $167,450 (1.5% below list)

Questions for the listing agent

1. Built in 1962 — 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 D-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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 1.03% ✓
• Cap rate: 7.75%
• Cash-on-cash: 5.21%
• DSCR: 1.23
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $148,230
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1012 S 15th St	0.04mi	3/1.0	1,109 (-9%)	1mo	$155,000	$140	83
1522 Adams St	0.20mi	3/1.0	1,149 (-5%)	2mo	$75,000	$65	80
1003 S 21st St	0.56mi	3/1.0	1,199 (-1%)	0mo	$135,000	$113	71
636 S 16th St	0.33mi	2/2.0 (-1)	1,278 (+5%)	0mo	$155,000	$121	67
1216 S 14th	0.22mi	3/3.0	1,090 (-10%)	0mo	$213,000	$195	64
730 S 19th St	0.43mi	3/1.0	1,110 (-9%)	1mo	$135,000	$122	64
631 S 11th St	0.44mi	3/1.5	1,300 (+7%)	2mo	$130,000	$100	64
722 S 19th St	0.45mi	2/1.0 (-1)	1,110 (-9%)	2mo	$149,000	$134	58
1601 Van Buren St	0.36mi	3/2.0	1,069 (-12%)	2mo	$189,000	$177	58
921 Adams	0.44mi	2/2.0 (-1)	1,320 (+9%)	1mo	$155,000	$117	55
834 S 18th St	0.32mi	4/1.5 (+1)	1,049 (-14%)	2mo	$145,000	$138	54
530 S 9th	0.64mi	2/1.0 (-1)	1,340 (+10%)	1mo	$137,000	$102	47

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -2.7%
• Equity multiple: 0.89×
• Total profit: $-5,068
• Equity at exit: $25,348

10-year hold

• IRR: 11.9%
• Equity multiple: 2.15×
• Total profit: $54,901
• Equity at exit: $14,698

Cash invested: $47,600 (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 62301

• Rents YoY: 10.8%
• Active inventory: 180
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,756 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$218 /mo · $2,616/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$369
• Net cashflow: $207

Break-even live

Break-even rent $1,494

Max offer price $170,000

Occupancy floor 83%

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
115 N 8th St Unit 1/2-5 Quincy, IL	2.0	1.0	750	$475	$0.63	44d	1	1.08mi
116 N 3rd St Quincy, IL	1.0–4.0	1.0–2.0	1950	$4,333	$2.22	44d	12	1.35mi

Listing history 33 events

1. 2026-06-19
   days on market $170,000 Under Contract 22 DOM
2. 2026-06-18
   days on market $170,000 Under Contract 21 DOM
3. 2026-06-17
   days on market $170,000 Under Contract 20 DOM
4. 2026-06-16
   days on market $170,000 Under Contract 19 DOM
5. 2026-06-15
   days on market $170,000 Under Contract 18 DOM
6. 2026-06-14
   days on market $170,000 Under Contract 16 DOM
7. 2026-06-12
   days on market $170,000 Under Contract 15 DOM
8. 2026-06-09
   days on market $170,000 Under Contract 12 DOM
9. 2026-06-08
   days on market $170,000 Under Contract 11 DOM
10. 2026-06-07
    days on market $170,000 Under Contract 10 DOM
11. 2026-06-03
    days on market $170,000 Under Contract 6 DOM
12. 2026-06-02
    days on market $170,000 Under Contract 5 DOM
13. 2026-06-01
    days on market $170,000 Under Contract 4 DOM
14. 2026-05-31
    days on market $170,000 Under Contract 3 DOM
15. 2026-05-30
    days on market $170,000 Under Contract 2 DOM
16. 2026-05-29
    historical Under Contract
17. 2026-05-27
    listed $170,000 Active
18. 2022-09-27
    historical
19. 2020-08-28
    soldstatus $125,000 323-char remark

    Show marketing remark (323 chars)

    Fantastic move in ready home! Major updates throughout since 2017: flooring, wiring, plumbing, vinyl windows, new kitchen cabinets, appliances and back splash. 2020 had new siding, soffit, fascia and gutters. This home has an open concept. Main floor laundry. Large lot with detached 2 car over sized garage. Roof was 2010.

20. 2020-08-28
    soldstatus $125,000

    Show marketing remark (323 chars)

    Fantastic move in ready home! Major updates throughout since 2017: flooring, wiring, plumbing, vinyl windows, new kitchen cabinets, appliances and back splash. 2020 had new siding, soffit, fascia and gutters. This home has an open concept. Main floor laundry. Large lot with detached 2 car over sized garage. Roof was 2010.

21. 2020-08-28
    soldstatus $125,000

    Show marketing remark (323 chars)

    Fantastic move in ready home! Major updates throughout since 2017: flooring, wiring, plumbing, vinyl windows, new kitchen cabinets, appliances and back splash. 2020 had new siding, soffit, fascia and gutters. This home has an open concept. Main floor laundry. Large lot with detached 2 car over sized garage. Roof was 2010.

22. 2020-06-20
    listed $129,900 323-char remark

    Show marketing remark (323 chars)

    Fantastic move in ready home! Major updates throughout since 2017: flooring, wiring, plumbing, vinyl windows, new kitchen cabinets, appliances and back splash. 2020 had new siding, soffit, fascia and gutters. This home has an open concept. Main floor laundry. Large lot with detached 2 car over sized garage. Roof was 2010.

23. 2020-06-20
    listed $129,900

    Show marketing remark (323 chars)

    Fantastic move in ready home! Major updates throughout since 2017: flooring, wiring, plumbing, vinyl windows, new kitchen cabinets, appliances and back splash. 2020 had new siding, soffit, fascia and gutters. This home has an open concept. Main floor laundry. Large lot with detached 2 car over sized garage. Roof was 2010.

24. 2020-06-20
    listed $129,900

    Show marketing remark (323 chars)

    Fantastic move in ready home! Major updates throughout since 2017: flooring, wiring, plumbing, vinyl windows, new kitchen cabinets, appliances and back splash. 2020 had new siding, soffit, fascia and gutters. This home has an open concept. Main floor laundry. Large lot with detached 2 car over sized garage. Roof was 2010.

25. 2015-04-14
    soldstatus $75,000
26. 2015-04-09
    soldstatus $75,000
27. 2015-04-09
    soldstatus $75,000
28. 2015-04-09
    soldstatus $75,000
29. 2014-07-25
    listed $78,500
30. 2014-07-25
    listed $78,500
31. 2014-07-25
    listed $78,500
32. 2003-04-11
    soldstatus $67,900
33. 2002-08-06
    listed $67,900

ⓘ 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: $2,616 · $218/mo
• Projected year-2 tax: $3,237 · $270/mo
• Expected delta: +$622/yr (+$52/mo · 23.8%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 72% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,070
• − Mortgage interest: −$9,523
• − Property taxes: −$2,616
• − Insurance: −$850
• − Repairs & maintenance: −$1,686
• − Management: −$1,686
• − Depreciation: −$4,945
• Taxable loss: −$235
• Est. tax savings @ 24.0%: +$56
• After-tax cash flow: $2,538/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: Quincy SD 172
• NCES district ID: 1733000
• Math proficiency: 24% ▬ 0.00%
• Reading proficiency: 27% ▬ 0.00%
• Median HH income: $44,132
• Composite: 21.91/100
• National rank: #8229
• State rank: #328 of 620 in IL

Livability — Quincy

• Score: 67/100
• State rank: #506
• US rank: #10458

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Quincy, IL
• County: Adams County · 30,746 people
• City population: 30,746
• Metro: Quincy, IL-MO
• Population (ZIP): 30,746
• Household income: $52,055
• Rent vs Own: 41.1% rent · 58.9% own
• Severe rent burden: 1238.0

Population outlook (Adams County) Hauer SSP2

• Today (2025): 65,795 people
• By 2030: 64,436 · -2.1%
• By 2040: 61,007 · -7.3%
• By 2050: 56,851 · -13.6%
• By 2075: 46,424 · -29.4%
• By 2100: 34,305 · -47.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 7% Black 6% Hispanic / Latino 3% Asian 1%
• Common ancestry: Slovak 2% Iranian 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Adams

• 2024 margin: Solid R (+47.4) · D 25.6% · R 73.0% · Other 1.5%
• 2008→2024 swing: -25.0pp toward R · 2008: -22.4pp · 2024: -47.4pp
• All cycles: 2024: R+47.4 2020: R+46.5 2016: R+47.5 2012: R+35.2 2008: R+22.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -121.44%
• Current HPI: 131.7344
• Rent YoY: ▲ 10.78%
• Metro: Quincy, IL-MO
• 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

+150.4% since first listed

18 events — show timeline

• 2026-05-29 Contingent — RMLSA as Distributed by MLS Grid
• 2026-05-27 Listed $170,000 RMLSA as Distributed by MLS Grid
• 2022-09-27 Listing Removed — RMLSA as Distributed by MLS Grid
• 2020-08-28 Sold (MLS) $125,000 MRED as Distributed by MLS Grid
• 2020-08-28 Sold (MLS) $125,000 RMLSA as Distributed by MLS Grid
• 2020-08-28 Sold (MLS) $125,000 Quincy AOR
• 2020-06-20 Listed $129,900 MRED as Distributed by MLS Grid
• 2020-06-20 Listed $129,900 RMLSA as Distributed by MLS Grid
• 2020-06-20 Listed $129,900 Quincy AOR
• 2015-04-14 Sold (Public Records) $75,000 Public Records
• 2015-04-09 Sold (MLS) $75,000 Quincy AOR
• 2015-04-09 Sold (MLS) $75,000 RMLSA as Distributed by MLS Grid
• 2015-04-09 Sold (MLS) $75,000 MRED as Distributed by MLS Grid
• 2014-07-25 Listed $78,500 Quincy AOR
• 2014-07-25 Listed $78,500 RMLSA as Distributed by MLS Grid
• 2014-07-25 Listed $78,500 MRED as Distributed by MLS Grid
• 2003-04-11 Sold (MLS) $67,900 RMLSA as Distributed by MLS Grid
• 2002-08-06 Listed $67,900 RMLSA as Distributed by MLS Grid

Property tax history

+5.7%/yr

Latest (2023): $2,616 · +6.9% YoY. Source: county tax records.