102 S Grove St · Middletown, IL 62666

$16,500

1 bd · None ba · 1,056 sqft · SingleFamily public records · 34 Days on market

Built 1963 0.33 ac lot

---

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
• Appreciation +5.0/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0

Listing remarks

Corner lot property located in a small rural town offering a great opportunity for renovation. Home is down to the studs and will require full rehab. Sold strictly as-is, cash only. No garage; former garage has been enclosed with block. Ideal for investors or buyers looking to rebuild and customize from the ground up.

Key facts

• Corner lot property
• Enclosed garage
• Full rehab

Tags

• CORNER LOT PROPERTY
• ENCLOSED GARAGE
• FULL REHAB

Property features AI

Exterior

• Parking: No garage spaces; Other parking
• Utilities: Public water; Septic system
• Home design: Single-family residence; Built in 1963
• Construction: Metal roof; Total building area 1,584
• Exterior features: Corner lot; Lot dimensions approximately 120 x 120

Interior

• Kitchen: Kitchen on main level
• Bedrooms: 1 bedroom (upper level)
• Flooring: Other flooring
• Bathrooms: No full bathrooms; No half bathrooms
• Heating & cooling: Central air
• Interior features: Has basement; No fireplaces

What this means for you Summary

Snapshot

• This is a 1-bed/?-bath single-family listed at $16k.

Deal economics

• At list price, monthly cash flow is $604 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($940 rent vs $16k).
• Recommended offer: $16k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 58/100 on livability (#1,088 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools F, crime D-, amenities F.
• New Holland-Middletown Ed 88 (rural): math 15% / reading 25% proficiency, ranked #684 of 919 in IL (top 74%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 5 active listings in the ZIP; 10 units permitted in Logan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $609 of equity ($114 loan paydown + $495 appreciation (3.0% local appreciation)).
• Logan County population projected at -11% 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 $5k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($16k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $10k; list at $16k implies a 65% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price.

Recommended offer $16,005 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 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 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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?
7. 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?
8. 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.
9. 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.
10. 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: 5.70% ✓
• Cap rate: 50.23%
• Cash-on-cash: 156.90%
• DSCR: 7.98
• GRM: 1.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 9.76×
• Total profit: $40,491
• Equity at exit: $7,419

10-year hold

• IRR: —
• Equity multiple: 20.54×
• Total profit: $90,266
• Equity at exit: $11,434

Cash invested: $4,620 (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 62666

• Active inventory: 5
• Price-to-rent: 1.5×

Monthly cashflow live

• Estimated rent: $940 medium
• Mortgage (P&I): −$87
• Tax from tax record: −$45 /mo · $542/yr
• Insurance: −$7
• HOA: −$0
• Vacancy / Maint / Mgmt: −$197
• Net cashflow: $604

Break-even live

Break-even rent $175

Max offer price $16,500

Occupancy floor 31%

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: $4,125
• Closing costs: $495
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $16,500 Active 34 DOM
2. 2026-06-17
   days on market $16,500 Active 33 DOM
3. 2026-06-16
   days on market $16,500 Active 32 DOM
4. 2026-06-15
   days on market $16,500 Active 31 DOM
5. 2026-06-13
   days on market $16,500 Active 29 DOM
6. 2026-06-12
   days on market $16,500 Active 28 DOM
7. 2026-06-09
   days on market $16,500 Active 25 DOM
8. 2026-06-08
   days on market $16,500 Active 24 DOM
9. 2026-06-07
   days on market $16,500 Active 23 DOM
10. 2026-06-05
    days on market $16,500 Active 21 DOM
11. 2026-06-04
    days on market $16,500 Active 19 DOM
12. 2026-06-02
    days on market $16,500 Active 18 DOM
13. 2026-06-01
    days on market $16,500 Active 17 DOM
14. 2026-05-31
    days on market $16,500 Active 16 DOM
15. 2026-05-31
    days on market $16,500 Active 15 DOM
16. 2026-05-15
    listed $16,500 Active
17. 2020-08-13
    soldstatus $10,000

ⓘ 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: $542 · $45/mo
• Projected year-2 tax: $542 · $45/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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,280
• − Mortgage interest: −$924
• − Property taxes: −$542
• − Insurance: −$82
• − Repairs & maintenance: −$902
• − Management: −$902
• − Depreciation: −$480
• Taxable income: $7,447
• Est. tax owed @ 24.0%: −$1,787
• After-tax cash flow: $5,462/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: New Holland-Middletown Ed 88
• NCES district ID: 1700103
• Math proficiency: 15% ▲ 5.00%
• Reading proficiency: 25% ▲ 5.00%
• Median HH income: $55,706
• Composite: 21.68/100
• National rank: #13592
• State rank: #684 of 919 in IL

Livability — Middletown

• Score: 58/100
• State rank: #1088
• US rank: #20717

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Middletown, IL
• Population (ZIP): 483

Population outlook (Logan County) Hauer SSP2

• Today (2025): 28,066 people
• By 2030: 27,370 · -2.5%
• By 2040: 26,078 · -7.1%
• By 2050: 24,908 · -11.3%
• By 2075: 22,504 · -19.8%
• By 2100: 19,226 · -31.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Two or more races 2%
• Common ancestry: Slovak 6% Iranian 2% Italian 1%
• Languages at home: 99% English-only · German/W. Germanic 1%

Political lean MEDSL · Logan

• 2024 margin: Solid R (+41.5) · D 28.2% · R 69.8% · Other 2.0%
• 2008→2024 swing: -24.6pp toward R · 2008: -16.9pp · 2024: -41.5pp
• All cycles: 2024: R+41.5 2020: R+39.8 2016: R+40.1 2012: R+32.1 2008: R+16.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+65.0% since first listed

2 events — show timeline

• 2026-05-15 Listed $16,500 RMLSA as Distributed by MLS Grid
• 2020-08-13 Sold (Public Records) $10,000 Public Records

Property tax history

-11.8%/yr

Latest (2024): $542 · +7.5% YoY. Source: county tax records.