718 N Coal St · Colchester, IL 62326

$85,000

2 bd · 1.0 ba · 1,050 sqft · Other public records · 78 Days on market

Built 1920 0.50 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 +23.2/30.0
• ARV discount +7.5/15.0
• DSCR +7.4/10.0
• Appreciation +6.4/10.0
• 1% rule +6.2/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0

Listing remarks MLS

The potential is waiting for you in this possible two-bedroom home; the hard work has been done already. The home has been gutted down to the studs and is ready for a buyer to come in and finish this house the way you want it. Located on .5 acres with a park-like backyard and about 2 miles from Argyle State Park, the home’s current footprint has 1050 sq ft on one level, with a detached two-car insulated garage now used as a shop. This affordable project home, with some work, could make you a nice home, call today for more details. SELLER IS SELLING HOME IN "AS-IS" CONDITION.

Key facts

• New furnace
• Expansive yard
• New water heater

Tags

• RENOVATED INTERIOR
• FRESHLY REDONE KITCHEN
• FINISHED ENCLOSED PORCH
• EXPANSIVE YARD
• NEW WATER HEATER
• NEW FURNACE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $85k.

Deal economics

• At list price, monthly cash flow is $153 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($955 rent vs $85k).
• Recommended offer: $80k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#485 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: health & safety C-, amenities F, commute F.
• West Prairie CUSD 103 (rural): math 20% / reading 23% proficiency, ranked #408 of 620 in IL (top 66%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: West Prairie South Elementary Sch (math 64% / reading 54%, grade B-, #68 of 2,056 statewide, top 4%, 177 students, 0% FRL); West Prairie Junior High School (math 8% / reading 17%, grade F, #550 of 665 statewide, top 84%, 99 students, 0% FRL); West Prairie Senior High School (math 10% / reading 30%, grade F, #357 of 693 statewide, top 54%, 162 students, 0% FRL) — zoned schools average 0% FRL vs 43% district-wide (43 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 7 active listings in the ZIP.

Forward outlook

• In year one you build about $3k of equity ($588 loan paydown + $2k appreciation (2.7% local appreciation)).
• At projected returns (2.7% 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 78 days — a 6% lower offer ($80k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y 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 $10k; list at $85k implies a 750% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $79,900 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — 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: 1.12% ✓
• Cap rate: 8.46%
• Cash-on-cash: 7.74%
• DSCR: 1.34
• GRM: 7.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.74% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.1%
• Equity multiple: 1.79×
• Total profit: $18,870
• Equity at exit: $36,979

10-year hold

• IRR: 16.1%
• Equity multiple: 3.31×
• Total profit: $54,987
• Equity at exit: $56,044

Cash invested: $23,800 (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 62326

• Home prices YoY: 1.8%
• Active inventory: 7
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $955 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$120 /mo · $1,435/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$200
• Net cashflow: $153

Break-even live

Break-even rent $760

Max offer price $85,000

Occupancy floor 79%

Sensitivity live

Price	-10% $202	-5% $178	+0% $153	+5% $129	+10% $105
Rent	-10% $78	-5% $116	+0% $153	+5% $191	+10% $229
Rate	-1.0pp $196	-0.5pp $175	base $153	+0.5pp $131	+1.0pp $109

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-04-28
   status Pending
2. 2026-02-09
   historical
3. 2026-02-09
   listed $85,000 Active
4. 2025-08-08
   listed Active
5. 2024-10-16
   soldstatus $10,000 Closed 597-char remark

   Show marketing remark (597 chars)

   The potential is waiting for you in this possible two-bedroom home; the hard work has been done already. The home has been gutted down to the studs and is ready for a buyer to come in and finish this house the way you want it. Located on .5 acres with a park-like backyard and about 2 miles from Argyle State Park, the home’s current footprint has 1050 sq ft on one level, with a detached two-car insulated garage now used as a shop. This affordable project home, with some work, could make you a nice home, call today for more details. SELLER IS SELLING HOME IN "AS-IS" CONDITION.

6. 2024-10-03
   status Pending 597-char remark

   Show marketing remark (597 chars)

   The potential is waiting for you in this possible two-bedroom home; the hard work has been done already. The home has been gutted down to the studs and is ready for a buyer to come in and finish this house the way you want it. Located on .5 acres with a park-like backyard and about 2 miles from Argyle State Park, the home’s current footprint has 1050 sq ft on one level, with a detached two-car insulated garage now used as a shop. This affordable project home, with some work, could make you a nice home, call today for more details. SELLER IS SELLING HOME IN "AS-IS" CONDITION.

7. 2024-09-23
   listed $14,000 Active 597-char remark

   Show marketing remark (597 chars)

   The potential is waiting for you in this possible two-bedroom home; the hard work has been done already. The home has been gutted down to the studs and is ready for a buyer to come in and finish this house the way you want it. Located on .5 acres with a park-like backyard and about 2 miles from Argyle State Park, the home’s current footprint has 1050 sq ft on one level, with a detached two-car insulated garage now used as a shop. This affordable project home, with some work, could make you a nice home, call today for more details. SELLER IS SELLING HOME IN "AS-IS" CONDITION.

8. 2023-10-17
   soldstatus $14,000 Closed
9. 2023-09-28
   status Pending
10. 2023-09-25
    listed $38,000 Active

ⓘ 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: $1,435 · $120/mo
• Projected year-2 tax: $1,682 · $140/mo
• Expected delta: +$247/yr (+$21/mo · 17.2%)

ⓘ 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 3/10 Moderate 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,457
• − Mortgage interest: −$4,761
• − Property taxes: −$1,435
• − Insurance: −$425
• − Repairs & maintenance: −$917
• − Management: −$917
• − Depreciation: −$2,473
• Taxable income: $529
• Est. tax owed @ 24.0%: −$127
• After-tax cash flow: $1,715/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: West Prairie CUSD 103
• NCES district ID: 1700314
• Math proficiency: 20% ▬ 0.00%
• Reading proficiency: 23% ▼ -8.00%
• Median HH income: $44,721
• Composite: 18.65/100
• National rank: #8890
• State rank: #408 of 620 in IL

Livability — Colchester

• Score: 68/100
• State rank: #485
• US rank: #10073

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Colchester, IL
• Population (ZIP): 2,317

Population outlook (McDonough County) Hauer SSP2

• Today (2025): 33,242 people
• By 2030: 33,318 · +0.2%
• By 2040: 33,520 · +0.8%
• By 2050: 33,630 · +1.2%
• By 2075: 33,657 · +1.2%
• By 2100: 33,127 · -0.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Hispanic / Latino 2% Two or more races 1%
• Common ancestry: Iranian 9% Slovak 5% Italian 2%
• Foreign-born: 0%
• Languages at home: 95% English-only · German/W. Germanic 4% Spanish 1%

Political lean MEDSL · McDonough

• 2024 margin: R (+18.9) · D 39.7% · R 58.5% · Other 1.8%
• 2008→2024 swing: -24.4pp toward R · 2008: 5.6pp · 2024: -18.9pp
• All cycles: 2024: R+18.9 2020: R+16.6 2016: R+11.7 2012: R+1.5 2008: D+5.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.74%
• Current HPI: 157.9142
• 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

+123.7% since first listed

10 events — show timeline

• 2026-04-28 Pending — RMLSA as Distributed by MLS Grid
• 2026-02-09 Listing Removed — RMLSA as Distributed by MLS Grid
• 2026-02-09 Listed $85,000 RMLSA as Distributed by MLS Grid
• 2025-08-08 Listed — RMLSA as Distributed by MLS Grid
• 2024-10-16 Sold (MLS) $10,000 RMLSA as Distributed by MLS Grid
• 2024-10-03 Pending — RMLSA as Distributed by MLS Grid
• 2024-09-23 Listed $14,000 RMLSA as Distributed by MLS Grid
• 2023-10-17 Sold (MLS) $14,000 RMLSA as Distributed by MLS Grid
• 2023-09-28 Pending — RMLSA as Distributed by MLS Grid
• 2023-09-25 Listed $38,000 RMLSA as Distributed by MLS Grid

Property tax history

+1.6%/yr

Latest (2024): $1,435 · -9.8% YoY. Source: county tax records.