6 Knapp Ct · Chester, IL 62233

$14,000

2 bd · 1.0 ba · 600 sqft · SingleFamily · 106 Days on market

4,830 sqft lot $23/sqft · 69% below area ↓ 12% since listing

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

A cottage in need of a rehab. Bring your creativity. Just a block away from Gilster and downtown fun.

Key facts

• 4,830 sq ft lot
• 2 parking spots
• Listed 106 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $14k.

Deal economics

• At list price, monthly cash flow is $686 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $14k).
• Recommended offer: $13k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#770 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Chester CUSD 139 (town): math 12% / reading 32% proficiency, ranked #393 of 620 in IL (top 63%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 23 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 $97 of loan paydown is wiped out by about $420 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 106 days — a 9% lower offer ($13k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 4.3% of price.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $12,740 (9.0% below list)

Questions for the listing agent

1. It's been on market 106 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 7.37% ✓
• Cap rate: 65.13%
• Cash-on-cash: 210.12%
• DSCR: 10.35
• GRM: 1.1

CMA / ARV

• ARV (median comp): $45,613
• List price: $14,000
• Delta: -69.31%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 11.58×
• Total profit: $41,484
• Equity at exit: $2,087

10-year hold

• IRR: —
• Equity multiple: 24.61×
• Total profit: $92,561
• Equity at exit: $1,210

Cash invested: $3,920 (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 62233

• Active inventory: 23
• Price-to-rent: 1.1×

Monthly cashflow live

• Estimated rent: $1,032 medium
• Mortgage (P&I): −$73
• Tax from tax record: −$50 /mo · $598/yr
• Insurance: −$6
• HOA: −$0
• Vacancy / Maint / Mgmt: −$217
• Net cashflow: $686

Break-even live

Break-even rent $163

Max offer price $14,000

Occupancy floor 29%

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: $3,500
• Closing costs: $420
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $14,000 Active 106 DOM
2. 2026-06-17
   days on market $14,000 Active 105 DOM
3. 2026-06-16
   days on market $14,000 Active 104 DOM
4. 2026-06-15
   days on market $14,000 Active 103 DOM
5. 2026-06-13
   days on market $14,000 Active 101 DOM
6. 2026-06-12
   days on market $14,000 Active 100 DOM
7. 2026-06-09
   days on market $14,000 Active 97 DOM
8. 2026-06-08
   days on market $14,000 Active 96 DOM
9. 2026-06-07
   days on market $14,000 Active 95 DOM
10. 2026-06-07
    days on market $14,000 Active 94 DOM
11. 2026-06-04
    days on market $14,000 Active 91 DOM
12. 2026-06-02
    days on market $14,000 Active 90 DOM
13. 2026-06-01
    days on market $14,000 Active 89 DOM
14. 2026-05-31
    days on market $14,000 Active 88 DOM
15. 2026-05-31
    days on market $14,000 Active 87 DOM
16. 2026-04-27
    price $14,000 103-char remark

    Show marketing remark (103 chars)

    A cottage in need of a rehab. Bring your creativity. Just a block away from Gilster and downtown fun.

17. 2026-03-01
    listed $16,000 Active 103-char remark

    Show marketing remark (103 chars)

    A cottage in need of a rehab. Bring your creativity. Just a block away from Gilster and downtown fun.

ⓘ 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: $598 · $50/mo
• Projected year-2 tax: $598 · $50/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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,387
• − Mortgage interest: −$784
• − Property taxes: −$598
• − Insurance: −$70
• − Repairs & maintenance: −$991
• − Management: −$991
• − Depreciation: −$407
• Taxable income: $8,546
• Est. tax owed @ 24.0%: −$2,051
• After-tax cash flow: $6,186/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: Chester CUSD 139
• NCES district ID: 1709810
• Math proficiency: 12% ▼ -5.00%
• Reading proficiency: 32% ▼ -9.00%
• Median HH income: $47,390
• Composite: 19.24/100
• National rank: #8807
• State rank: #393 of 620 in IL

Livability — Chester

• Score: 63/100
• State rank: #770
• US rank: #15436

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Chester, IL
• Population (ZIP): 8,233

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 (73%)
• Race & ethnicity: White 73% Black 21% Hispanic / Latino 5% Two or more races 2%
• Common ancestry: Lithuanian 4% Serbian 3% Italian 3%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 3%

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: ▼ -68.79%
• Current HPI: 119.2269
• 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

-12.5% since first listed

2 events — show timeline

• 2026-04-27 Price Changed $14,000 MRED as Distributed by MLS Grid
• 2026-03-01 Listed $16,000 MRED as Distributed by MLS Grid

Property tax history

+1.7%/yr

Latest (2024): $598 · +4.5% YoY. Source: county tax records.