824 S 11th St · Quincy, IL 62301

$120,000

4 bd · 2.0 ba · 1,741 sqft · SingleFamily · 46 Days on market

5,662 sqft lot $69/sqft · 10% above area Est $109k · 10% over

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Why this score? — see what drove the C+ 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
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• Rent growth +5.0/5.0
• Livability +3.4/5.0
• ARV discount +2.9/15.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This versatile property offers the potential to be used as a spacious 4-bedroom, 2-bath home or a 2-unit duplex, providing excellent flexibility for homeowners or investors. With separate utilities (except water) and exceptional square footage, the possibilities are endless. Enjoy off-street parking, laundry hookups on both floors, and modern updates, including an updated roof on the main part of the house in 2015 and electrical updates spanning from 2009 to present. Situated on an alley, the home has easy access and added privacy. While some cosmetic updates and TLC will bring out its full charm, this property is full of potential. Note: The dollhouse view in the listing includes AI-staged furniture to showcase the home’s potential layout and design.

Key facts

• 5,662 sq ft lot
• Parking
• Listed 45 days

Property features AI

Finance

• Other: Property located in the Quincy area
• Financial info: Unit rents reported: Unit 1 currently $600/month; Unit 2 currently $800/month; Two rental units total

Exterior

• Parking: On-street parking; Alley access
• Utilities: Public water; Public sewer
• Home design: Residential income property; Two-unit building
• Construction: Shingle roof; Building area about 1,741 total square feet; Not new construction
• Exterior features: Level lot; Lot dimensions approximately 45 x 120

Interior

• Bedrooms: Two 2-bedroom units
• Bathrooms: Each unit has one full bathroom
• Heating & cooling: Central air conditioning; Forced-air heating; Gas water heater
• Interior features: Partial basement; No on-site laundry
• Laundry & utility: No shared laundry listed

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $532 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $116k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.6% vs local median 4.3% in Quincy — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 67/100 on livability (#506 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D, employment D, amenities D-.
• Quincy SD 172 (town): math 24% / reading 27% proficiency, ranked #328 of 620 in IL (top 53%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Quincy Sr High School (math 21% / reading 28%, grade F, #256 of 693 statewide, top 44%, 1,924 students, 0% FRL) — zoned schools average 0% FRL vs 48% district-wide (48 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+10.8%/yr); 180 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 68 units permitted in Adams County in 2024 (0 in 5+ unit buildings).
• This rent runs 38% of the median local income ($52k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k 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 + 8.0% rent growth), your $34k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $77k; list at $120k implies a 56% gain — meaningful room to come down on a strong offer.

Recommended offer $116,400 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 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 D-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. 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?
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: 1.39% ✓
• Cap rate: 11.61%
• Cash-on-cash: 18.99%
• DSCR: 1.84
• GRM: 6.0

CMA / ARV

• ARV (median comp): $108,960
• List price: $120,000
• Delta: 10.13%
• Verdict: OVERPRICED
• Comps: 18 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
828 S 11th St	0.01mi	4/1.0	1,718 (-1%)	1mo	$140,500	$82	92
732 S 13th	0.19mi	3/2.0 (-1)	1,748 (+0%)	9mo	$209,000	$120	78
1112 Payson Ave	0.15mi	4/1.0	1,645 (-6%)	3mo	$157,000	$95	78
1109 Madison St	0.13mi	4/2.0	1,854 (+6%)	7mo	$129,900	$70	78
704 S 16th St	0.44mi	3/2.5 (-1)	1,810 (+4%)	1mo	$175,000	$97	65
1128 Washington St	0.09mi	3/1.0 (-1)	1,920 (+10%)	6mo	$116,000	$60	65
612 Monroe St	0.48mi	3/2.0 (-1)	1,670 (-4%)	2mo	$57,500	$34	64
1007 S 12th St	0.20mi	3/1.5 (-1)	1,900 (+9%)	7mo	$127,500	$67	62
915 Payson Ave	0.22mi	3/2.0 (-1)	1,558 (-10%)	8mo	$118,000	$76	61
820 S 16th St	0.42mi	4/2.0	1,540 (-12%)	2mo	$175,000	$114	60
522 S 12th St	0.29mi	3/1.5 (-1)	1,530 (-12%)	8mo	$37,500	$25	52
512 Madison	0.52mi	3/2.0 (-1)	1,954 (+12%)	6mo	$120,000	$61	45

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 16.2%
• Equity multiple: 1.69×
• Total profit: $23,235
• Equity at exit: $17,892

10-year hold

• IRR: 28.1%
• Equity multiple: 4.09×
• Total profit: $103,973
• Equity at exit: $10,375

Cash invested: $33,600 (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 62301

• Rents YoY: 10.8%
• Active inventory: 180
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,669 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$108 /mo · $1,291/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$350
• Net cashflow: $532

Break-even live

Break-even rent $996

Max offer price $120,000

Occupancy floor 63%

Sensitivity live

Price	-10% $600	-5% $566	+0% $532	+5% $498	+10% $464
Rent	-10% $400	-5% $466	+0% $532	+5% $598	+10% $663
Rate	-1.0pp $592	-0.5pp $562	base $532	+0.5pp $501	+1.0pp $469

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
116 N 3rd St Quincy, IL	1.0–4.0	1.0–2.0	1950	$5,600	$2.87	44d	12	1.02mi

Listing history 28 events

1. 2026-06-19
   days on market $120,000 Active 46 DOM
2. 2026-06-18
   days on market $120,000 Active 45 DOM
3. 2026-06-17
   days on market $120,000 Active 44 DOM
4. 2026-06-16
   days on market $120,000 Active 43 DOM
5. 2026-06-15
   days on market $120,000 Active 42 DOM
6. 2026-06-14
   days on market $120,000 Active 40 DOM
7. 2026-06-12
   days on market $120,000 Active 39 DOM
8. 2026-06-09
   days on market $120,000 Active 36 DOM
9. 2026-06-08
   days on market $120,000 Active 35 DOM
10. 2026-06-07
    days on market $120,000 Active 34 DOM
11. 2026-06-03
    days on market $120,000 Active 30 DOM
12. 2026-06-02
    days on market $120,000 Active 29 DOM
13. 2026-06-01
    days on market $120,000 Active 28 DOM
14. 2026-05-31
    days on market $120,000 Active 27 DOM
15. 2026-05-30
    days on market $120,000 Active 26 DOM
16. 2026-05-03
    listed $125,000 Active 420-char remark
17. 2025-06-25
    historical
18. 2025-05-21
    price
19. 2025-04-10
    listed Active
20. 2025-02-02
    historical $800
21. 2025-01-22
    listed $800
22. 2024-12-03
    soldstatus $77,000 Closed

    Show marketing remark (767 chars)

    This versatile property offers the potential to be used as a spacious 4-bedroom, 2-bath home or a 2-unit duplex, providing excellent flexibility for homeowners or investors. With separate utilities (except water) and exceptional square footage, the possibilities are endless. Enjoy off-street parking, laundry hookups on both floors, and modern updates, including an updated roof on the main part of the house in 2015 and electrical updates spanning from 2009 to present. Situated on an alley, the home has easy access and added privacy. While some cosmetic updates and TLC will bring out its full charm, this property is full of potential. Note: The dollhouse view in the listing includes AI-staged furniture to showcase the home’s potential layout and design.

23. 2024-11-11
    historical
24. 2024-11-06
    historical Under Contract

    Show marketing remark (767 chars)

    This versatile property offers the potential to be used as a spacious 4-bedroom, 2-bath home or a 2-unit duplex, providing excellent flexibility for homeowners or investors. With separate utilities (except water) and exceptional square footage, the possibilities are endless. Enjoy off-street parking, laundry hookups on both floors, and modern updates, including an updated roof on the main part of the house in 2015 and electrical updates spanning from 2009 to present. Situated on an alley, the home has easy access and added privacy. While some cosmetic updates and TLC will bring out its full charm, this property is full of potential. Note: The dollhouse view in the listing includes AI-staged furniture to showcase the home’s potential layout and design.

25. 2024-10-24
    listed $90,000 Active

    Show marketing remark (767 chars)

    This versatile property offers the potential to be used as a spacious 4-bedroom, 2-bath home or a 2-unit duplex, providing excellent flexibility for homeowners or investors. With separate utilities (except water) and exceptional square footage, the possibilities are endless. Enjoy off-street parking, laundry hookups on both floors, and modern updates, including an updated roof on the main part of the house in 2015 and electrical updates spanning from 2009 to present. Situated on an alley, the home has easy access and added privacy. While some cosmetic updates and TLC will bring out its full charm, this property is full of potential. Note: The dollhouse view in the listing includes AI-staged furniture to showcase the home’s potential layout and design.

26. 2024-10-23
    listed Active
27. 2009-06-01
    soldstatus $58,000
28. 2008-06-08
    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: $1,291 · $108/mo
• Projected year-2 tax: $2,007 · $167/mo
• Expected delta: +$717/yr (+$60/mo · 55.5%)

ⓘ 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 ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,028
• − Mortgage interest: −$6,722
• − Property taxes: −$1,291
• − Insurance: −$600
• − Repairs & maintenance: −$1,602
• − Management: −$1,602
• − Depreciation: −$3,491
• Taxable income: $4,720
• Est. tax owed @ 24.0%: −$1,133
• After-tax cash flow: $5,247/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: Quincy SD 172
• NCES district ID: 1733000
• Math proficiency: 24% ▬ 0.00%
• Reading proficiency: 27% ▬ 0.00%
• Median HH income: $44,132
• Composite: 21.91/100
• National rank: #8229
• State rank: #328 of 620 in IL

Livability — Quincy

• Score: 67/100
• State rank: #506
• US rank: #10458

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Quincy, IL
• County: Adams County · 30,746 people
• City population: 30,746
• Metro: Quincy, IL-MO
• Population (ZIP): 30,746
• Household income: $52,055
• Rent vs Own: 41.1% rent · 58.9% own
• Severe rent burden: 1238.0

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 (84%)
• Race & ethnicity: White 84% Two or more races 7% Black 6% Hispanic / Latino 3% Asian 1%
• Common ancestry: Slovak 2% Iranian 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2%

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: ▼ -121.44%
• Current HPI: 131.7344
• Rent YoY: ▲ 10.78%
• Metro: Quincy, IL-MO
• 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

+106.9% since first listed

14 events — show timeline

• 2026-05-28 Price Changed $120,000 RMLSA as Distributed by MLS Grid
• 2026-05-03 Listed $125,000 RMLSA as Distributed by MLS Grid
• 2025-06-25 Listing Removed — RMLSA as Distributed by MLS Grid
• 2025-05-21 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-04-10 Listed — RMLSA as Distributed by MLS Grid
• 2025-02-02 Rental Removed $800 APPFOLIO
• 2025-01-22 Listed for Rent $800 APPFOLIO
• 2024-12-03 Sold (MLS) $77,000 RMLSA as Distributed by MLS Grid
• 2024-11-11 Listing Removed — RMLSA as Distributed by MLS Grid
• 2024-11-06 Contingent — RMLSA as Distributed by MLS Grid
• 2024-10-24 Listed $90,000 RMLSA as Distributed by MLS Grid
• 2024-10-23 Listed — RMLSA as Distributed by MLS Grid
• 2009-06-01 Sold (Public Records) $58,000 Public Records
• 2008-06-08 Listing Removed — MRED as Distributed by MLS Grid

Property tax history

+3.8%/yr

Latest (2023): $1,291 · +8.1% YoY. Source: county tax records.