2013 4th St · Madison, IL 62060

$119,000

2 bd · 3.0 ba · 1,601 sqft · SingleFamily public records · 263 Days on market

Built 1930 7,200 sqft lot $74/sqft · 26% above area Est $94k · 26% over ↓ 14% since listing

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Why this score? — see what drove the F 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 +14.4/30.0
• 1% rule +4.9/10.0
• DSCR +4.4/10.0
• Livability +3.1/5.0
• Appreciation +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.2/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

Move-In Ready & Fully Renovated! First time this home has been offered out of the family in 70 years! This extra-clean home has been completely updated and is ready for you to move right in. Features include a spacious basement with plenty of storage, a huge 24' x 28' man-sized garage, plus an additional 12' x 16' storage shed with a garage door. Recent updates include a newer roof, siding, windows, and interior paint. Enjoy a full backyard privacy fence along with a gated front yard and driveway entry. Nestled on a quiet street close to schools, this spacious home offers all the room your family needs. Don’t miss out—call Bill today to schedule your showing!

Key facts

• Huge basement
• Newer roof
• Extra storage shed

Tags

• HUGE BASEMENT
• OVERSIZED NEWER GARAGE
• NEWER ROOF
• NEWER SIDING
• NEWER WINDOWS
• EXTRA STORAGE SHED

What this means for you Summary

Snapshot

• This is a 2-bed/3.0-bath single-family listed at $119k.

Deal economics

• At list price, monthly cash flow is $23 ($277/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 $118k (0.7% below list).
• Recommended offer: $105k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#861 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A-, housing B+; Watch: health & safety C-, schools F, amenities F.
• Madison CUSD 12 (suburban): math 2% / reading 4% proficiency, ranked #619 of 620 in IL (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 84% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 10 active listings in the ZIP; 336 units permitted in Madison County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $823 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Madison County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 263 days — a 12% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 2y ago; this cycle's ask has dropped $20k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• 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 $104,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 263 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 1930 — 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. 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?
7. 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.
8. 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.
9. 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: 0.99% ✗
• Cap rate: 6.53%
• Cash-on-cash: 0.83%
• DSCR: 1.04
• GRM: 8.4

CMA / ARV

• ARV (median comp): $94,385
• List price: $119,000
• Delta: 26.08%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2020 6th St	0.11mi	3/1.0 (+1)	1,650 (+3%)	0mo	$124,900	$76	77
1036 Greenwood St	0.58mi	3/2.5 (+1)	1,696 (+6%)	2mo	$99,900	$59	54
1710 Edwardsville Rd	0.37mi	3/1.5 (+1)	1,390 (-13%)	15mo	$121,000	$87	37
1615 4th St	0.52mi	3/1.5 (+1)	1,792 (+12%)	20mo	$140,000	$78	29

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: -14.9%
• Equity multiple: 0.47×
• Total profit: $-17,742
• Equity at exit: $17,743

10-year hold

• IRR: -6.2%
• Equity multiple: 0.60×
• Total profit: $-13,265
• Equity at exit: $10,289

Cash invested: $33,320 (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 62060

• Home prices YoY: -2.0%
• Active inventory: 10
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,181 medium
• Mortgage (P&I): −$624
• Tax from tax record: −$237 /mo · $2,839/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$248
• Net cashflow: $23

Break-even live

Break-even rent $1,152

Max offer price $119,000

Occupancy floor 93%

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-04-15
   status Active 683-char remark

   Show marketing remark (683 chars)

   Move-In Ready & Fully Renovated! First time this home has been offered out of the family in 70 years! This extra-clean home has been completely updated and is ready for you to move right in. Features include a spacious basement with plenty of storage, a huge 24' x 28' man-sized garage, plus an additional 12' x 16' storage shed with a garage door. Recent updates include a newer roof, siding, windows, and interior paint. Enjoy a full backyard privacy fence along with a gated front yard and driveway entry. Nestled on a quiet street close to schools, this spacious home offers all the room your family needs. Don’t miss out—call Bill today to schedule your showing!

2. 2026-03-31
   status Pending 683-char remark

   Show marketing remark (683 chars)

   Move-In Ready & Fully Renovated! First time this home has been offered out of the family in 70 years! This extra-clean home has been completely updated and is ready for you to move right in. Features include a spacious basement with plenty of storage, a huge 24' x 28' man-sized garage, plus an additional 12' x 16' storage shed with a garage door. Recent updates include a newer roof, siding, windows, and interior paint. Enjoy a full backyard privacy fence along with a gated front yard and driveway entry. Nestled on a quiet street close to schools, this spacious home offers all the room your family needs. Don’t miss out—call Bill today to schedule your showing!

3. 2026-01-12
   status Active 683-char remark

   Show marketing remark (683 chars)

   Move-In Ready & Fully Renovated! First time this home has been offered out of the family in 70 years! This extra-clean home has been completely updated and is ready for you to move right in. Features include a spacious basement with plenty of storage, a huge 24' x 28' man-sized garage, plus an additional 12' x 16' storage shed with a garage door. Recent updates include a newer roof, siding, windows, and interior paint. Enjoy a full backyard privacy fence along with a gated front yard and driveway entry. Nestled on a quiet street close to schools, this spacious home offers all the room your family needs. Don’t miss out—call Bill today to schedule your showing!

4. 2026-01-12
   price $119,000 683-char remark

   Show marketing remark (683 chars)

   Move-In Ready & Fully Renovated! First time this home has been offered out of the family in 70 years! This extra-clean home has been completely updated and is ready for you to move right in. Features include a spacious basement with plenty of storage, a huge 24' x 28' man-sized garage, plus an additional 12' x 16' storage shed with a garage door. Recent updates include a newer roof, siding, windows, and interior paint. Enjoy a full backyard privacy fence along with a gated front yard and driveway entry. Nestled on a quiet street close to schools, this spacious home offers all the room your family needs. Don’t miss out—call Bill today to schedule your showing!

5. 2025-11-22
   status Active 683-char remark

   Show marketing remark (683 chars)

   Move-In Ready & Fully Renovated! First time this home has been offered out of the family in 70 years! This extra-clean home has been completely updated and is ready for you to move right in. Features include a spacious basement with plenty of storage, a huge 24' x 28' man-sized garage, plus an additional 12' x 16' storage shed with a garage door. Recent updates include a newer roof, siding, windows, and interior paint. Enjoy a full backyard privacy fence along with a gated front yard and driveway entry. Nestled on a quiet street close to schools, this spacious home offers all the room your family needs. Don’t miss out—call Bill today to schedule your showing!

6. 2025-11-15
   status Pending 683-char remark

   Show marketing remark (683 chars)

   Move-In Ready & Fully Renovated! First time this home has been offered out of the family in 70 years! This extra-clean home has been completely updated and is ready for you to move right in. Features include a spacious basement with plenty of storage, a huge 24' x 28' man-sized garage, plus an additional 12' x 16' storage shed with a garage door. Recent updates include a newer roof, siding, windows, and interior paint. Enjoy a full backyard privacy fence along with a gated front yard and driveway entry. Nestled on a quiet street close to schools, this spacious home offers all the room your family needs. Don’t miss out—call Bill today to schedule your showing!

7. 2025-11-02
   status Active 683-char remark

   Show marketing remark (683 chars)

   Move-In Ready & Fully Renovated! First time this home has been offered out of the family in 70 years! This extra-clean home has been completely updated and is ready for you to move right in. Features include a spacious basement with plenty of storage, a huge 24' x 28' man-sized garage, plus an additional 12' x 16' storage shed with a garage door. Recent updates include a newer roof, siding, windows, and interior paint. Enjoy a full backyard privacy fence along with a gated front yard and driveway entry. Nestled on a quiet street close to schools, this spacious home offers all the room your family needs. Don’t miss out—call Bill today to schedule your showing!

8. 2025-10-26
   price $129,000 683-char remark

   Show marketing remark (683 chars)

   Move-In Ready & Fully Renovated! First time this home has been offered out of the family in 70 years! This extra-clean home has been completely updated and is ready for you to move right in. Features include a spacious basement with plenty of storage, a huge 24' x 28' man-sized garage, plus an additional 12' x 16' storage shed with a garage door. Recent updates include a newer roof, siding, windows, and interior paint. Enjoy a full backyard privacy fence along with a gated front yard and driveway entry. Nestled on a quiet street close to schools, this spacious home offers all the room your family needs. Don’t miss out—call Bill today to schedule your showing!

9. 2025-07-28
   listed $139,000 Active 683-char remark

   Show marketing remark (683 chars)

   Move-In Ready & Fully Renovated! First time this home has been offered out of the family in 70 years! This extra-clean home has been completely updated and is ready for you to move right in. Features include a spacious basement with plenty of storage, a huge 24' x 28' man-sized garage, plus an additional 12' x 16' storage shed with a garage door. Recent updates include a newer roof, siding, windows, and interior paint. Enjoy a full backyard privacy fence along with a gated front yard and driveway entry. Nestled on a quiet street close to schools, this spacious home offers all the room your family needs. Don’t miss out—call Bill today to schedule your showing!

10. 2024-10-01
    historical
11. 2024-08-08
    status Pending
12. 2024-07-11
    listed $139,000 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: $2,839 · $237/mo
• Projected year-2 tax: $2,839 · $237/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,176
• − Mortgage interest: −$6,666
• − Property taxes: −$2,839
• − Insurance: −$595
• − Repairs & maintenance: −$1,134
• − Management: −$1,134
• − Depreciation: −$3,462
• Taxable loss: −$1,653
• Est. tax savings @ 24.0%: +$397
• After-tax cash flow: $674/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: Madison CUSD 12
• NCES district ID: 1723970
• Math proficiency: 2% ▼ -3.50%
• Reading proficiency: 4% ▼ -4.00%
• Median HH income: $23,597
• Composite: 1.5/100
• National rank: #10107
• State rank: #619 of 620 in IL

Livability — Madison

• Score: 62/100
• State rank: #861
• US rank: #16841

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Madison, IL
• City population: 3,619
• Population (ZIP): 3,619

Population outlook (Madison County) Hauer SSP2

• Today (2025): 258,371 people
• By 2030: 251,523 · -2.7%
• By 2040: 233,640 · -9.6%
• By 2050: 213,042 · -17.5%
• By 2075: 165,255 · -36.0%
• By 2100: 123,953 · -52.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (66%)
• Race & ethnicity: Black 66% White 23% Two or more races 10% Hispanic / Latino 4%
• Common ancestry: Romanian 2% Portuguese 1% Serbian 1%
• Foreign-born: 5% · Canada
• Languages at home: 95% English-only · Spanish 5%

Political lean MEDSL · Madison

• 2024 margin: R (+13.3) · D 42.5% · R 55.8% · Other 1.8%
• 2008→2024 swing: -22.5pp toward R · 2008: 9.2pp · 2024: -13.3pp
• All cycles: 2024: R+13.3 2020: R+13.2 2016: R+15.6 2012: R+1.4 2008: D+9.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -4.03%
• Current HPI: 197.5454
• 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

-14.4% since first listed

12 events — show timeline

• 2026-04-15 Relisted — MARIS as Distributed by MLS Grid
• 2026-03-31 Pending — MARIS as Distributed by MLS Grid
• 2026-01-12 Relisted — MARIS as Distributed by MLS Grid
• 2026-01-12 Price Changed $119,000 MARIS as Distributed by MLS Grid
• 2025-11-22 Relisted — MARIS as Distributed by MLS Grid
• 2025-11-15 Pending — MARIS as Distributed by MLS Grid
• 2025-11-02 Relisted — MARIS as Distributed by MLS Grid
• 2025-10-26 Price Changed $129,000 MARIS as Distributed by MLS Grid
• 2025-07-28 Listed $139,000 MARIS as Distributed by MLS Grid
• 2024-10-01 Delisted — MARIS as Distributed by MLS Grid
• 2024-08-08 Pending — MARIS as Distributed by MLS Grid
• 2024-07-11 Listed $139,000 MARIS as Distributed by MLS Grid

Property tax history

+4.7%/yr

Latest (2024): $2,839 · +11.3% YoY. Source: county tax records.