702 E Feifer · Sparta, IL 62286

$74,900

2 bd · 2.0 ba · 924 sqft · SingleFamily · 181 Days on market

Built 1992 0.31 ac lot $81/sqft · 12% above area Est $67k · 12% over

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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 +25.6/30.0
• DSCR +8.5/10.0
• 1% rule +6.3/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +2.2/15.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This neat and clean two-bedroom mobile home with 2 full bathrooms, sits on a large lot and offers a spacious kitchen with built in hutch that adds character to this home with A large living room for space and family. Enjoy both a covered front porch and a back deck as well. Perfect for relaxing outdoors. Move-in ready and ideal for a primary residence or an investment for rental property. Call for a showing soon.

Key facts

• 0.31 acre lot
• Built 1992
• Listed 181 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $176 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($847 rent vs $75k).
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.1% 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 $518 of loan paydown is wiped out by about $2k 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.

Negotiation context

• It's been on market 181 days — a 12% lower offer ($66k) 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

• 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 $65,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 181 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: 1.13% ✓
• Cap rate: 9.11%
• Cash-on-cash: 10.07%
• DSCR: 1.45
• GRM: 7.4

CMA / ARV

• ARV (median comp): $66,952
• List price: $74,900
• Delta: 11.87%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
520 E Mound St	0.12mi	2/1.0	924 (0%)	6mo	$70,000	$76	86
510 E Main St	0.27mi	2/1.0	1,000 (+8%)	2mo	$48,000	$48	68
907 E Harrison St	0.12mi	2/2.0	840 (-9%)	14mo	$47,500	$57	68
408 E Mound St	0.23mi	3/1.0 (+1)	998 (+8%)	3mo	$79,900	$80	65
305 N James St	0.72mi	3/1.0 (+1)	884 (-4%)	2mo	$117,500	$133	49
401 N James St	0.72mi	3/1.0 (+1)	1,040 (+13%)	16mo	$87,500	$84	23

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: -1.2%
• Equity multiple: 0.96×
• Total profit: $-930
• Equity at exit: $11,168

10-year hold

• IRR: 8.5%
• Equity multiple: 1.65×
• Total profit: $13,615
• Equity at exit: $6,476

Cash invested: $20,972 (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: 7.4×

Monthly cashflow live

• Estimated rent: $847 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$70 /mo · $834/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$178
• Net cashflow: $176

Break-even live

Break-even rent $625

Max offer price $74,900

Occupancy floor 74%

Sensitivity live

Price	-10% $218	-5% $197	+0% $176	+5% $155	+10% $134
Rent	-10% $109	-5% $143	+0% $176	+5% $209	+10% $243
Rate	-1.0pp $214	-0.5pp $195	base $176	+0.5pp $157	+1.0pp $137

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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-08
   days on market $74,900 Active 181 DOM
2. 2026-06-07
   days on market $74,900 Active 180 DOM
3. 2026-06-07
   days on market $74,900 Active 179 DOM
4. 2026-06-04
   days on market $74,900 Active 176 DOM
5. 2026-06-02
   days on market $74,900 Active 175 DOM
6. 2026-06-01
   days on market $74,900 Active 174 DOM
7. 2026-05-31
   days on market $74,900 Active 173 DOM
8. 2026-05-31
   days on market $74,900 Active 172 DOM
9. 2025-12-09
   listed $74,900 Active 422-char remark

   Show marketing remark (422 chars)

   This neat and clean two-bedroom mobile home with 2 full bathrooms, sits on a large lot and offers a spacious kitchen with built in hutch that adds character to this home with A large living room for space and family. Enjoy both a covered front porch and a back deck as well. Perfect for relaxing outdoors. Move-in ready and ideal for a primary residence or an investment for rental property. Call for a showing soon.

10. 2024-10-04
    historical $825
11. 2024-08-03
    listed $825

ⓘ 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: $834 · $70/mo
• Projected year-2 tax: $1,267 · $106/mo
• Expected delta: +$433/yr (+$36/mo · 51.9%)

ⓘ 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 (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 100% 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: $10,170
• − Mortgage interest: −$4,196
• − Property taxes: −$834
• − Insurance: −$374
• − Repairs & maintenance: −$814
• − Management: −$814
• − Depreciation: −$2,179
• Taxable income: $959
• Est. tax owed @ 24.0%: −$230
• After-tax cash flow: $1,882/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

• Census place: Sparta, IL
• 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

3 events — show timeline

• 2025-12-09 Listed $74,900 MARIS as Distributed by MLS Grid
• 2024-10-04 Rental Removed $825 PROPERTYWARE
• 2024-08-03 Listed for Rent $825 PROPERTYWARE

Property tax history

+11.1%/yr

Latest (2024): $834 · +1.4% YoY. Source: county tax records.