301 Cherry St · Quincy, IL 62301

$129,900

4 bd · 1.5 ba · 1,788 sqft · SingleFamily · 49 Days on market

Built 1927 8,276 sqft lot $73/sqft · 57% above area

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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
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located on a corner lot and offers updated HVAC system, replacement windows. Butternut woodwork in living and dining room with pocket doors. Two car garage with an attached storage / workshop area. Other room was used as a kitchenette area with sink, 100 amp electrical service. Inspections welcome but being sold as-is.

Key facts

• New shower
• New ceiling lighting
• New cabinets

Tags

• NEW KITCHEN APPLIANCES
• NEW CABINETS
• NEW CEILING LIGHTING
• UPDATED FULL BATHROOM
• NEW SHOWER
• NEW TUB

Property features AI

Exterior

• Parking: Detached garage; 2-car garage spaces; On-street parking available
• Utilities: Public water; Public sewer
• Home design: Single family residence; Two levels; Built in 1927
• Construction: Shingle roof
• Exterior features: Replacement windows; Corner lot; Paved road frontage

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Pantry
• Bedrooms: 4 bedrooms (Bedroom 1 on Main level; others on Upper level and additional/lower levels including Basement and Additional Level)
• Flooring: Hardwood (in several bedrooms and mud room); Carpet (in some bedrooms and pantry); Luxury vinyl plank (living room and kitchen)
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Attic storage; Cable available; High-speed internet; Full unfinished basement
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $525 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $126k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.1% 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: 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; 1 comparable units currently listed for rent nearby; 68 units permitted in Adams County in 2024 (0 in 5+ unit buildings).
• This rent runs 38% 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 $898 of loan paydown is wiped out by about $4k 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 $36k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $20k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $50k; list at $130k implies a 160% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $126,003 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.29% ✓
• Cap rate: 11.14%
• Cash-on-cash: 17.32%
• DSCR: 1.77
• GRM: 6.5

CMA / ARV

• ARV (median comp): $82,727
• List price: $129,900
• Delta: 57.02%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1421 N 7th St	0.45mi	3/2.0 (-1)	1,795 (+0%)	7mo	$124,600	$69	66
1330 N 6th St	0.35mi	3/2.0 (-1)	1,908 (+7%)	0mo	$132,000	$69	65
1524 N 6th St	0.47mi	3/2.0 (-1)	1,680 (-6%)	4mo	$25,000	$15	58
1030 N 8th St	0.44mi	3/1.0 (-1)	1,695 (-5%)	8mo	$125,000	$74	57
828 Spruce St	0.50mi	4/2.0	1,861 (+4%)	13mo	$116,000	$62	57
615 N 8th	0.58mi	4/2.0	1,735 (-3%)	11mo	$14,500	$8	57
1228 N 9th St	0.54mi	3/2.0 (-1)	1,869 (+4%)	14mo	$62,000	$33	49
1415 N 10th St	0.64mi	3/1.5 (-1)	1,696 (-5%)	10mo	$142,000	$84	48
1120 N 8th St	0.44mi	4/1.5	2,051 (+15%)	10mo	$42,000	$20	47
908 Spruce St	0.55mi	3/4.0 (-1)	1,649 (-8%)	2mo	$60,000	$36	45
405 Parkview Dr	0.72mi	3/1.5 (-1)	2,024 (+13%)	6mo	$138,000	$68	34
623 N 8th	0.57mi	3/1.5 (-1)	1,519 (-15%)	14mo	$35,000	$23	31

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: 13.8%
• Equity multiple: 1.58×
• Total profit: $21,176
• Equity at exit: $19,369

10-year hold

• IRR: 26.0%
• Equity multiple: 3.79×
• Total profit: $101,498
• Equity at exit: $11,231

Cash invested: $36,372 (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: 6.5×

Monthly cashflow live

• Estimated rent: $1,669 medium
• Mortgage (P&I): −$681
• Tax from tax record: −$58 /mo · $700/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$351
• Net cashflow: $525

Break-even live

Break-even rent $1,005

Max offer price $129,900

Occupancy floor 64%

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
116 N 3rd St Quincy, IL	1.0–4.0	1.0–2.0	1950	$5,600	$2.87	43d	12	0.86mi

Listing history 22 events

1. 2026-06-19
   days on market $129,900 Active 49 DOM
2. 2026-06-18
   days on market $129,900 Active 48 DOM
3. 2026-06-17
   days on market $129,900 Active 47 DOM
4. 2026-06-16
   days on market $129,900 Active 46 DOM
5. 2026-06-15
   days on market $129,900 Active 45 DOM
6. 2026-06-14
   days on market $129,900 Active 43 DOM
7. 2026-06-12
   days on market $129,900 Active 42 DOM
8. 2026-06-09
   days on market $129,900 Active 39 DOM
9. 2026-06-08
   days on market $129,900 Active 38 DOM
10. 2026-06-07
    pricedays on market $129,900 Active 37 DOM
11. 2026-06-03
    days on market $134,900 Active 33 DOM
12. 2026-06-02
    days on market $134,900 Active 32 DOM
13. 2026-06-01
    days on market $134,900 Active 31 DOM
14. 2026-05-31
    days on market $134,900 Active 30 DOM
15. 2026-05-30
    days on market $134,900 Active 29 DOM
16. 2026-05-15
    price $144,900 641-char remark
17. 2026-05-01
    listed $149,900 Active 641-char remark
18. 2022-05-26
    soldstatus $50,000
19. 2022-05-20
    soldstatus $50,000 321-char remark

    Show marketing remark (321 chars)

    Located on a corner lot and offers updated HVAC system, replacement windows. Butternut woodwork in living and dining room with pocket doors. Two car garage with an attached storage / workshop area. Other room was used as a kitchenette area with sink, 100 amp electrical service. Inspections welcome but being sold as-is.

20. 2022-05-20
    soldstatus $50,000

    Show marketing remark (321 chars)

    Located on a corner lot and offers updated HVAC system, replacement windows. Butternut woodwork in living and dining room with pocket doors. Two car garage with an attached storage / workshop area. Other room was used as a kitchenette area with sink, 100 amp electrical service. Inspections welcome but being sold as-is.

21. 2022-01-07
    listed $59,900 321-char remark

    Show marketing remark (321 chars)

    Located on a corner lot and offers updated HVAC system, replacement windows. Butternut woodwork in living and dining room with pocket doors. Two car garage with an attached storage / workshop area. Other room was used as a kitchenette area with sink, 100 amp electrical service. Inspections welcome but being sold as-is.

22. 2022-01-07
    listed $59,900

    Show marketing remark (321 chars)

    Located on a corner lot and offers updated HVAC system, replacement windows. Butternut woodwork in living and dining room with pocket doors. Two car garage with an attached storage / workshop area. Other room was used as a kitchenette area with sink, 100 amp electrical service. Inspections welcome but being sold as-is.

ⓘ 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: $700 · $58/mo
• Projected year-2 tax: $1,824 · $152/mo
• Expected delta: +$1,124/yr (+$94/mo · 160.6%)

ⓘ 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 3/10 Moderate 7 d/yr ≥107°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: $20,032
• − Mortgage interest: −$7,276
• − Property taxes: −$700
• − Insurance: −$650
• − Repairs & maintenance: −$1,603
• − Management: −$1,603
• − Depreciation: −$3,779
• Taxable income: $4,422
• Est. tax owed @ 24.0%: −$1,061
• After-tax cash flow: $5,240/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

+116.9% since first listed

9 events — show timeline

• 2026-06-05 Price Changed $129,900 RMLSA as Distributed by MLS Grid
• 2026-05-27 Price Changed $134,900 RMLSA as Distributed by MLS Grid
• 2026-05-15 Price Changed $144,900 RMLSA as Distributed by MLS Grid
• 2026-05-01 Listed $149,900 RMLSA as Distributed by MLS Grid
• 2022-05-26 Sold (Public Records) $50,000 Public Records
• 2022-05-20 Sold (MLS) $50,000 Quincy AOR
• 2022-05-20 Sold (MLS) $50,000 MRED as Distributed by MLS Grid
• 2022-01-07 Listed $59,900 Quincy AOR
• 2022-01-07 Listed $59,900 MRED as Distributed by MLS Grid

Property tax history

-5.2%/yr

Latest (2023): $700 · -37.3% YoY. Source: county tax records.