104 W Edwards St · Payson, IL 62360

$40,000

3 bd · 1.0 ba · 1,757 sqft · SingleFamily · 62 Days on market

10,018 sqft lot ↓ 20% 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
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks

1.5-story home offering strong potential for the right buyer ready to take on a project. This 3-bedroom home—with the possibility of a 4th bedroom—features main floor laundry and a layout that allows for flexible redesign. Situated on a large lot with a 1-car detached garage, the property offers a solid footprint to work with. The home is in need of an overhaul and does not currently have ductwork to the second story, making this an ideal candidate for a full rehab or investment opportunity. Bring your vision and transform this property into something special.

Key facts

• 0.23 acre lot
• Garage
• Listed 62 days

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Multiple levels including main, upper, lower and basement
• Construction: Not new construction
• Exterior features: Level lot; Metal roof

Interior

• Kitchen: Kitchen present (includes refrigerator)
• Bedrooms: 3 bedrooms (one on main level, others on upper level)
• Flooring: Carpet in bedrooms, living room, and recreation room; Vinyl flooring in kitchen; Other flooring in laundry
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Gas water heater
• Interior features: Refrigerator included; Partial basement
• Laundry & utility: Main-level laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $678 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Recommended offer: $38k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#536 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.
• Payson CUSD 1 (rural): math 16% / reading 18% proficiency, ranked #463 of 620 in IL (top 75%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 9 active listings in the ZIP; 68 units permitted in Adams County in 2024 (0 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.
• 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 + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($38k) is reasonable based on typical stale-listing flexibility.

Recommended offer $37,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% 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: 3.07% ✓
• Cap rate: 26.63%
• Cash-on-cash: 72.65%
• DSCR: 4.23
• GRM: 2.7

CMA / ARV

• ARV (on-the-fly): $198,541
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
104 W Edwards St	0.00mi	3/1.0	1,757 (0%)	1mo	$37,000	$21	99
307 E State St	0.25mi	3/1.0	1,849 (+5%)	2mo	$210,000	$114	78
309 W Edwards St	0.20mi	3/2.0	1,935 (+10%)	0mo	$265,000	$137	70
406 N Main St	0.21mi	3/2.0	1,565 (-11%)	4mo	$255,000	$163	65
101 W Perkins St	0.29mi	3/2.0	1,620 (-8%)	14mo	$179,000	$110	58
335 Sumac St	0.66mi	3/1.0	1,801 (+2%)	10mo	$94,900	$53	57
506 Magnolia St	0.48mi	3/2.0	1,588 (-10%)	4mo	$180,000	$113	54
427 Briarwood Dr	0.45mi	2/2.0 (-1)	1,602 (-9%)	5mo	$120,000	$75	51

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: 72.4%
• Equity multiple: 4.28×
• Total profit: $36,731
• Equity at exit: $5,964

10-year hold

• IRR: 76.3%
• Equity multiple: 8.83×
• Total profit: $87,709
• 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 62360

• Home prices YoY: -8.4%
• Active inventory: 9
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $1,229 medium
• Mortgage (P&I): −$210
• Tax from tax record: −$67 /mo · $801/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $678

Break-even live

Break-even rent $371

Max offer price $40,000

Occupancy floor 40%

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: —

Listing history 9 events

1. 2026-04-14
   historical Under Contract
2. 2026-04-02
   price $40,000
3. 2026-03-25
   listed $50,000 Active
4. 2022-09-27
   historical
5. 2022-09-27
   historical
6. 2022-09-27
   historical
7. 2013-07-18
   historical
8. 2011-06-02
   historical
9. 2008-02-15
   historical

ⓘ 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: $801 · $67/mo
• Projected year-2 tax: $855 · $71/mo
• Expected delta: +$53/yr (+$4/mo · 6.6%)

ⓘ 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 ≥105°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,753
• − Mortgage interest: −$2,241
• − Property taxes: −$801
• − Insurance: −$200
• − Repairs & maintenance: −$1,180
• − Management: −$1,180
• − Depreciation: −$1,164
• Taxable income: $7,987
• Est. tax owed @ 24.0%: −$1,917
• After-tax cash flow: $6,220/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: Payson CUSD 1
• NCES district ID: 1730990
• Math proficiency: 16% ▼ -3.00%
• Reading proficiency: 18% ▼ -10.00%
• Median HH income: $52,664
• Composite: 15.68/100
• National rank: #9284
• State rank: #463 of 620 in IL

Livability — Payson

• Score: 67/100
• State rank: #536
• US rank: #11127

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Payson, IL
• Population (ZIP): 1,540

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 (96%)
• Race & ethnicity: White 96% Asian 2% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Italian 3% Slovak 1% Serbian 1%
• Foreign-born: 0%

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: ▼ -12.55%
• Current HPI: 135.975
• 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

-20.0% since first listed

9 events — show timeline

• 2026-04-14 Contingent — RMLSA as Distributed by MLS Grid
• 2026-04-02 Price Changed $40,000 RMLSA as Distributed by MLS Grid
• 2026-03-25 Listed $50,000 RMLSA as Distributed by MLS Grid
• 2022-09-27 Listing Removed — RMLSA as Distributed by MLS Grid
• 2022-09-27 Listing Removed — RMLSA as Distributed by MLS Grid
• 2022-09-27 Listing Removed — RMLSA as Distributed by MLS Grid
• 2013-07-18 Listing Removed — MRED as Distributed by MLS Grid
• 2011-06-02 Listing Removed — MRED as Distributed by MLS Grid
• 2008-02-15 Listing Removed — MRED as Distributed by MLS Grid

Property tax history

+6.5%/yr

Latest (2023): $801 · +4.9% YoY. Source: county tax records.