208 E Ebony St · Thayer, IL 62615

$40,000

2 bd · 1.0 ba · 1,058 sqft · Other · 41 Days on market

Built 1957 6,400 sqft lot $38/sqft · 51% below area ↓ 11% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

INVESTORS SPECIAL! Located on a quiet street in Thayer. This bungalow offers 2 bedrooms, 1 full bath, a spacious backyard, detached garage and additional storage shed. Plenty of potential for investors, rental property buyers, or buyers looking to add their own personal touch! Property is being sold AS-IS. Don't miss this affordable investment opportunity!

Key facts

• Quiet street
• Spacious backyard
• Detached garage

Tags

• QUIET STREET
• SPACIOUS BACKYARD
• DETACHED GARAGE
• ADDITIONAL STORAGE SHED

Property features AI

Exterior

• Parking: Detached oversized 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Built in 1957; One or more additional, upper, lower and basement levels noted
• Construction: Shingle roof; Building area approximately 1058 (living area reported as 1058)
• Exterior features: Level lot; Lot dimensions approximately 40 x 160

Interior

• Kitchen: Kitchen located on the main level (vinyl flooring)
• Bedrooms: 2 bedrooms (both on the main level; each has egress windows); Bedroom dimensions approximately 13.8 x 10 and 10.5 x 11.6 feet
• Flooring: Laminate flooring in bedrooms, living room, and family room; Vinyl flooring in the kitchen
• Bathrooms: 1 full bathroom
• Heating & cooling: No heating system listed
• Interior features: Partial, unfinished basement; No fireplaces

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $40k.

Deal economics

• At list price, monthly cash flow is $365 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($850 rent vs $40k).
• Recommended offer: $39k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#643 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D+, schools D, amenities F.
• Market conditions: 19 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 225 units permitted in Sangamon County in 2024 (48 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $277 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Sangamon County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($39k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $38,800 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 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 1957 — 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: 2.12% ✓
• Cap rate: 17.25%
• Cash-on-cash: 39.14%
• DSCR: 2.74
• GRM: 3.9

CMA / ARV

• ARV (median comp): $82,286
• List price: $40,000
• Delta: -51.39%
• Verdict: UNDERPRICED
• Comps: 17 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 35.4%
• Equity multiple: 2.50×
• Total profit: $16,818
• Equity at exit: $5,964

10-year hold

• IRR: 42.2%
• Equity multiple: 4.99×
• Total profit: $44,733
• Equity at exit: $3,458

Cash invested: $11,200 (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 62615

• Home prices YoY: -22.8%
• Active inventory: 19
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $850 medium
• Mortgage (P&I): −$210
• Tax from tax record: −$80 /mo · $957/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$178
• Net cashflow: $365

Break-even live

Break-even rent $388

Max offer price $40,000

Occupancy floor 52%

Sensitivity live

Price	-10% $388	-5% $377	+0% $365	+5% $354	+10% $343
Rent	-10% $298	-5% $332	+0% $365	+5% $399	+10% $432
Rate	-1.0pp $385	-0.5pp $376	base $365	+0.5pp $355	+1.0pp $344

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
216 E Elm St Thayer, IL	2.0	1.0	800	$850	$1.06	44d	1	0.06mi

Listing history 17 events

1. 2026-06-21
   days on market $40,000 Active 41 DOM
2. 2026-06-18
   days on market $40,000 Active 39 DOM
3. 2026-06-17
   days on market $40,000 Active 38 DOM
4. 2026-06-16
   days on market $40,000 Active 37 DOM
5. 2026-06-15
   days on market $40,000 Active 36 DOM
6. 2026-06-13
   days on market $40,000 Active 34 DOM
7. 2026-06-12
   days on market $40,000 Active 33 DOM
8. 2026-06-09
   days on market $40,000 Active 30 DOM
9. 2026-06-08
   days on market $40,000 Active 29 DOM
10. 2026-06-07
    days on market $40,000 Active 28 DOM
11. 2026-06-07
    pricedays on market $40,000 Active 27 DOM
12. 2026-06-04
    days on market $45,000 Active 24 DOM
13. 2026-06-02
    days on market $45,000 Active 23 DOM
14. 2026-06-01
    days on market $45,000 Active 22 DOM
15. 2026-05-31
    days on market $45,000 Active 21 DOM
16. 2026-05-31
    days on market $45,000 Active 20 DOM
17. 2026-05-10
    listed $45,000 Active 358-char remark

ⓘ 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: $957 · $80/mo
• Projected year-2 tax: $957 · $80/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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,200
• − Mortgage interest: −$2,241
• − Property taxes: −$957
• − Insurance: −$200
• − Repairs & maintenance: −$816
• − Management: −$816
• − Depreciation: −$1,164
• Taxable income: $4,007
• Est. tax owed @ 24.0%: −$962
• After-tax cash flow: $3,422/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)

No district data.

Livability — Thayer

• Score: 65/100
• State rank: #643
• US rank: #13143

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Thayer, IL
• Population (ZIP): 5,075

Population outlook (Sangamon County) Hauer SSP2

• Today (2025): 198,317 people
• By 2030: 196,127 · -1.1%
• By 2040: 188,664 · -4.9%
• By 2050: 179,624 · -9.4%
• By 2075: 155,027 · -21.8%
• By 2100: 122,588 · -38.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 5% Two or more races 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 3% Slovak 3% Lithuanian 2%
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Sangamon

• 2024 margin: Toss-up / Even · D 46.6% · R 51.6% · Other 1.8%
• 2008→2024 swing: -9.3pp toward R · 2008: 4.4pp · 2024: -5.0pp
• All cycles: 2024: R+5.0 2020: R+4.4 2016: R+9.4 2012: R+8.7 2008: D+4.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -49.35%
• Current HPI: 167.0347
• 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

-11.1% since first listed

2 events — show timeline

• 2026-06-04 Price Changed $40,000 RMLSA as Distributed by MLS Grid
• 2026-05-10 Listed $45,000 RMLSA as Distributed by MLS Grid

Property tax history

+2.8%/yr

Latest (2025): $957 · -0.9% YoY. Source: county tax records.