111 W 2nd St · Georgetown, IL 61846

$300,000

None bd · None ba · — sqft · MultiFamily · 109 Days on market

Built 1930 Fair condition 6,490 sqft lot ↓ 40% since listing

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Why this score? — see what drove the A- 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
• Appreciation +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 +2.2/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

These 5 homes are being sold as a group they are rental properties - Selling as is 111 W 2nd Street - 2 bedrooms 1 bathroom 309 W 8th Street - 3 bedrooms 1 bathroom 305 W 8th Street - 2 bedrooms 1 bathroom 111 E 16th Street - 3 bedrooms 1 bathroom 213 Vermilion Street - 4 bedrooms 1 bathroom - has new metal roof needs updates Managing Broker Owned

Key facts

• 6,490 sq ft lot
• 2 garage spots
• Built 1930

Property features AI

Exterior

• Parking: Detached garage; 2 garage spaces
• Utilities: Public water; Public sewer
• Home design: Multi-family residential income property; Two levels / 2 stories
• Exterior features: Metal roof; R-1 zoning; 0.15-acre lot

Interior

• Kitchen: Range; Refrigerator
• Heating & cooling: Cooling (other)
• Interior features: Gas water heater; Range; Refrigerator; Has cooling (other)

What this means for you Summary

Snapshot

• This is a multifamily listed at $300k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $2k ($27k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $300k).
• Recommended offer: $273k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#783 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: employment D+, amenities F, commute F.
• Zoned schools: Pine Crest Elementary School (math 8% / reading 22%, grade F, #1,259 of 2,056 statewide, top 62%, 415 students, 0% FRL); Mary Miller Junior High School (math 8% / reading 22%, grade F, #510 of 665 statewide, top 78%, 196 students, 0% FRL); Georgetown-Ridge Farm High School (math 15% / reading 5%, grade F, #528 of 693 statewide, top 82%, 259 students, 0% FRL).
• Market conditions: 6 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 8 units permitted in Vermilion County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $32k of equity ($2k loan paydown + $30k appreciation (10.0% local appreciation)).
• Vermilion County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $84k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$52k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 109 days — a 9% lower offer ($273k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $273,000 (9.0% below list)

Questions for the listing agent

1. It's been on market 109 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.82% ✓
• Cap rate: 15.23%
• Cash-on-cash: 31.90%
• DSCR: 2.42
• GRM: 4.6

CMA / ARV

• ARV (median comp): $82,110
• List price: $300,000
• Delta: 265.36%
• Verdict: OVERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 48.6%
• Equity multiple: 4.64×
• Total profit: $305,695
• Equity at exit: $270,264

10-year hold

• IRR: 42.4%
• Equity multiple: 10.39×
• Total profit: $788,540
• Equity at exit: $582,834

Cash invested: $84,000 (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 61846

• Home prices YoY: 9.4%
• Price-to-rent: 23.4×

Monthly cashflow live

• Estimated rent: $5,451 high
• Mortgage (P&I): −$1,573
• Tax est. 1.5%: −$375 /mo · $4,500/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,145
• Net cashflow: $2,233

Break-even live

Break-even rent $2,624

Max offer price $300,000

Occupancy floor 54%

Sensitivity live

Price	-10% $2,440	-5% $2,337	+0% $2,233	+5% $2,129	+10% $2,026
Rent	-10% $1,802	-5% $2,018	+0% $2,233	+5% $2,448	+10% $2,664
Rate	-1.0pp $2,384	-0.5pp $2,309	base $2,233	+0.5pp $2,155	+1.0pp $2,076

5-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,134
▸ 2× units	3	1	$2,134
1× unit	4	1	$1,183
Total (5 units)			$5,451

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: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
109 E West St Unit 1 Georgetown, IL	1.0	2.0	144	$599	$4.16	23d	1	0.07mi
208 Logan St Georgetown, IL	3.0	1.0	1100	$1,200	$1.09	14d	1	0.15mi
212 Logan St Georgetown, IL	2.0	1.0	1000	$895	$0.90	22d	1	0.16mi
710 Mill St Georgetown, IL	2.0	2.0	—	$706	—	45d	1	0.59mi
710 Mill St Georgetown, IL	2.0	2.0	—	$1,500	—	14d	1	0.59mi
303 W 12th St Georgetown, IL	3.0	1.0	1300	$1,100	$0.85	7d	1	0.73mi

Listing history 18 events

1. 2026-06-21
   days on market $300,000 Active 109 DOM
2. 2026-06-18
   days on market $300,000 Active 106 DOM
3. 2026-06-17
   days on market $300,000 Active 105 DOM
4. 2026-06-16
   days on market $300,000 Active 104 DOM
5. 2026-06-15
   days on market $300,000 Active 103 DOM
6. 2026-06-13
   days on market $300,000 Active 101 DOM
7. 2026-06-09
   days on market $300,000 Active 97 DOM
8. 2026-06-08
   days on market $300,000 Active 96 DOM
9. 2026-06-07
   days on market $300,000 Active 95 DOM
10. 2026-06-04
    days on market $300,000 Active 92 DOM
11. 2026-06-03
    days on market $300,000 Active 91 DOM
12. 2026-06-02
    days on market $300,000 Active 90 DOM
13. 2026-06-01
    days on market $300,000 Active 89 DOM
14. 2026-05-31
    days on market $300,000 Active 88 DOM
15. 2026-05-11
    price $300,000
16. 2026-04-23
    price $380,000
17. 2026-04-15
    price $400,000
18. 2026-03-04
    listed $500,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥103°F today · 18 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: $65,412
• − Mortgage interest: −$16,805
• − Property taxes: −$4,500
• − Insurance: −$1,500
• − Repairs & maintenance: −$5,233
• − Management: −$5,233
• − Depreciation: −$8,727
• Taxable income: $23,414
• Est. tax owed @ 24.0%: −$5,619
• After-tax cash flow: $21,177/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.

Condition & rehab AI · 6 photos

Fair 45/100 Moderate rehab

This multi-family property requires significant repairs and updates to its roof, siding, flooring, and interior. A new roof and updates to the exterior and interior would significantly increase its value.

Repairs flagged

• Major roof — Significant wear and tear visible.
• Major siding — Peeling and faded paint.
• Major flooring — Worn and in need of replacement.
• Major interior walls/paint — Poor condition and likely in need of repainting.
• Major HVAC/mechanicals — No specific systems visible, but overall condition suggests need for attention.

Value-add opportunities

• Both New roof — A new roof would significantly improve the home's appearance and value.
• Both Paint and siding repair — Repainting and repairing the siding would enhance curb appeal and value.
• Both Flooring replacement — Replacing worn flooring would improve the home's condition and value.
• Both Interior painting and repairs — Repainting and repairing interior walls would improve the home's condition and value.
• Both HVAC and mechanical updates — Updating HVAC and mechanical systems would improve the home's functionality and value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Significant wear and tear visible.	Major	$15,000–50,000
siding · Peeling and faded paint.	Major	$15,000–50,000
flooring · Worn and in need of replacement.	Major	$15,000–50,000
interior walls/paint · Poor condition and likely in need of repainting.	Major	$15,000–50,000
HVAC/mechanicals · No specific systems visible, but overall condition suggests need for attention.	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both New roof — A new roof would significantly improve the home's appearance and value. ↑
• Both Paint and siding repair — Repainting and repairing the siding would enhance curb appeal and value. ↑
• Both Flooring replacement — Replacing worn flooring would improve the home's condition and value. ↑
• Both Interior painting and repairs — Repainting and repairing interior walls would improve the home's condition and value. ↑
• Both HVAC and mechanical updates — Updating HVAC and mechanical systems would improve the home's functionality and value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

No district data.

Livability — Georgetown

• Score: 63/100
• State rank: #783
• US rank: #15620

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Georgetown, IL
• Population (ZIP): 4,484

Population outlook (Vermilion County) Hauer SSP2

• Today (2025): 72,775 people
• By 2030: 69,235 · -4.9%
• By 2040: 62,360 · -14.3%
• By 2050: 55,539 · -23.7%
• By 2075: 40,606 · -44.2%
• By 2100: 26,985 · -62.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Hispanic / Latino 5% Black 5% Two or more races 4%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 2% Serbian 1% Romanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Vermilion

• 2024 margin: Solid R (+35.7) · D 31.4% · R 67.0% · Other 1.6%
• 2008→2024 swing: -36.2pp toward R · 2008: 0.6pp · 2024: -35.7pp
• All cycles: 2024: R+35.7 2020: R+32.9 2016: R+29.2 2012: R+15.7 2008: D+0.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 21.78%
• Current HPI: 254.5489
• 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

-40.0% since first listed

4 events — show timeline

• 2026-05-11 Price Changed $300,000 CIBR
• 2026-04-23 Price Changed $380,000 CIBR
• 2026-04-15 Price Changed $400,000 CIBR
• 2026-03-04 Listed $500,000 CIBR