209 W 2nd South St · Mount Olive, IL 62069

$49,950

2 bd · 1.0 ba · 912 sqft · SingleFamily · 45 Days on market

Built 1980 7,000 sqft lot $55/sqft · 38% below area Est $80k · 38% under

---

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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0

Listing remarks MLS

This 2-bedroom home would be a great starter. Partial basement. Garage off alley. Put on your personal touch and move right in. Being sold "As Is".

Key facts

• 7,000 sq ft lot
• Garage
• Built 1980

Property features AI

Exterior

• Parking: One-car garage
• Utilities: Public water; Public sewer; Electric service by Ameren
• Home design: Single-family residence; One story; Residential property
• Construction: Vinyl siding
• Exterior features: Level lot

Interior

• Bedrooms: Two bedrooms (both on the main level)
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Full basement; Five total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $344 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($875 rent vs $50k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#937 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.
• Mount Olive CUSD 5 (rural): math 16% / reading 17% proficiency, ranked #483 of 620 in IL (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Mt Olive High School (math 24% / reading 34%, grade F, #187 of 693 statewide, top 30%, 126 students, 0% FRL) — zoned schools average 0% FRL vs 39% district-wide (39 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 30% at this address vs 16% district-wide (+13 pts) — the actual schools serving this property are materially stronger than the Mount Olive CUSD 5 average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 20 active listings in the ZIP; 70 units permitted in Macoupin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($346 loan paydown + $5k appreciation (10.0% local appreciation)).
• Macoupin County population projected at -27% 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 $14k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $22k; list at $50k implies a 127% gain — meaningful room to come down on a strong offer.

Recommended offer $48,451 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.75% ✓
• Cap rate: 14.55%
• Cash-on-cash: 29.48%
• DSCR: 2.31
• GRM: 4.8

CMA / ARV

• ARV (median comp): $80,404
• List price: $49,950
• Delta: -37.88%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
411 S Walnut St	0.13mi	2/1.0	924 (+1%)	10mo	$149,900	$162	84
114 W 3rd South St	0.11mi	2/1.0	950 (+4%)	6mo	$79,000	$83	83
203 W 2nd North St	0.27mi	2/1.0	980 (+8%)	3mo	$115,000	$117	72
505 W 2nd South St	0.21mi	2/1.0	960 (+5%)	13mo	$25,000	$26	71
206 N Walnut St	0.23mi	3/1.0 (+1)	1,017 (+12%)	4mo	$59,900	$59	61
700 E 1st St N	0.53mi	2/1.5	928 (+2%)	22mo	$79,900	$86	52
301 E 7th North St	0.65mi	2/1.0	1,033 (+13%)	5mo	$77,000	$75	43

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 46.7%
• Equity multiple: 4.51×
• Total profit: $49,101
• Equity at exit: $44,999

10-year hold

• IRR: 40.6%
• Equity multiple: 10.11×
• Total profit: $127,417
• Equity at exit: $97,042

Cash invested: $13,986 (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 62069

• Home prices YoY: 12.0%
• Active inventory: 20
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $875 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$65 /mo · $779/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$184
• Net cashflow: $344

Break-even live

Break-even rent $440

Max offer price $49,950

Occupancy floor 56%

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: $12,488
• Closing costs: $1,498
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $49,950 Active 45 DOM
2. 2026-06-17
   days on market $49,950 Active 44 DOM
3. 2026-06-16
   days on market $49,950 Active 43 DOM
4. 2026-06-15
   days on market $49,950 Active 42 DOM
5. 2026-06-13
   days on market $49,950 Active 40 DOM
6. 2026-06-12
   days on market $49,950 Active 39 DOM
7. 2026-06-09
   days on market $49,950 Active 36 DOM
8. 2026-06-08
   days on market $49,950 Active 35 DOM
9. 2026-06-07
   days on market $49,950 Active 34 DOM
10. 2026-06-04
    days on market $49,950 Active 30 DOM
11. 2026-06-02
    days on market $49,950 Active 29 DOM
12. 2026-06-01
    days on market $49,950 Active 28 DOM
13. 2026-05-31
    days on market $49,950 Active 27 DOM
14. 2026-05-31
    days on market $49,950 Active 26 DOM
15. 2026-05-04
    listed $49,950 Active 142-char remark
16. 2019-02-07
    historical
17. 2012-08-30
    soldstatus

    Show marketing remark (157 chars)

    This 2-bedroom home would be a great starter. Partial basement. Garage off alley. Put on your personal touch and move right in. Being sold "As Is".

18. 2012-08-01
    soldstatus $22,000
19. 2012-05-17
    soldstatus

ⓘ 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: $779 · $65/mo
• Projected year-2 tax: $957 · $80/mo
• Expected delta: +$177/yr (+$15/mo · 22.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low 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 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: $10,500
• − Mortgage interest: −$2,798
• − Property taxes: −$779
• − Insurance: −$250
• − Repairs & maintenance: −$840
• − Management: −$840
• − Depreciation: −$1,453
• Taxable income: $3,540
• Est. tax owed @ 24.0%: −$850
• After-tax cash flow: $3,273/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: Mount Olive CUSD 5
• NCES district ID: 1727180
• Math proficiency: 16% ▼ -21.00%
• Reading proficiency: 17% ▼ -18.00%
• Median HH income: $46,749
• Composite: 14.7/100
• National rank: #9402
• State rank: #483 of 620 in IL

Livability — Mount Olive

• Score: 61/100
• State rank: #937
• US rank: #18221

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: Mount Olive, IL
• Population (ZIP): 3,102

Population outlook (Macoupin County) Hauer SSP2

• Today (2025): 42,867 people
• By 2030: 40,796 · -4.8%
• By 2040: 36,135 · -15.7%
• By 2050: 31,469 · -26.6%
• By 2075: 22,102 · -48.4%
• By 2100: 15,380 · -64.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 3%
• Common ancestry: Lithuanian 2% Iranian 2% Romanian 2%
• Foreign-born: 1%

Political lean MEDSL · Macoupin

• 2024 margin: Solid R (+39.2) · D 29.4% · R 68.7% · Other 1.9%
• 2008→2024 swing: -49.0pp toward R · 2008: 9.8pp · 2024: -39.2pp
• All cycles: 2024: R+39.2 2020: R+36.5 2016: R+35.0 2012: R+7.0 2008: D+9.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 21.34%
• Current HPI: 199.5
• 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

+127.0% since first listed

5 events — show timeline

• 2026-05-04 Listed $49,950 MARIS as Distributed by MLS Grid
• 2019-02-07 Listing Removed — MRED as Distributed by MLS Grid
• 2012-08-30 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2012-08-01 Sold (Public Records) $22,000 Public Records
• 2012-05-17 Sold (MLS) — MARIS as Distributed by MLS Grid

Property tax history

+2.0%/yr

Latest (2024): $779 · +7.3% YoY. Source: county tax records.