325 Cherry St · Quincy, IL 62301

$19,900

2 bd · 1.0 ba · 1,734 sqft · Townhouse · 197 Days on market

Built 1940 4,200 sqft lot $11/sqft · 57% below area

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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
• Rent growth +5.0/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

WHAT A UNIQUE OPPORTUNITY! HOME AND BUSINESS ALL ON ONE PARCEL. THIS WAS ONCE USED AS THE BOOMING BUSINESS, FRANS FISH FRY. HOME NEEDS SOME WORK BUT HAS VERY GOOD BONES. COULD BE USED FOR HOME, RENTAL, COFFEE SHOP, or RESTAURANT. COMMERCIAL ZONED.

Key facts

• 4,200 sq ft lot
• Built 1940
• Listed 196 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath townhouse listed at $20k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $20k).
• Recommended offer: $18k (12.0% below list) — sets the bar for market timing.
• Cap rate 80.6% 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: schools D+, crime D, employment 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.
• Market conditions: Rents rising fast (+10.8%/yr); 180 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 68 units permitted in Adams County in 2024 (0 in 5+ unit buildings).
• This rent runs 40% 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 $138 of loan paydown is wiped out by about $597 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 $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 197 days — a 12% lower offer ($18k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 17y ago; this cycle's ask has dropped $5k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $17,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 197 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 8.79% ✓
• Cap rate: 80.60%
• Cash-on-cash: 265.38%
• DSCR: 12.81
• GRM: 0.9

CMA / ARV

• ARV (median comp): $46,756
• List price: $19,900
• Delta: -57.44%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
606 Maple St	0.38mi	3/— (+1)	1,638 (-6%)	7mo	$45,000	$27	62

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: —
• Equity multiple: 16.17×
• Total profit: $84,537
• Equity at exit: $2,967

10-year hold

• IRR: —
• Equity multiple: 39.92×
• Total profit: $216,889
• Equity at exit: $1,721

Cash invested: $5,572 (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: 0.9×

Monthly cashflow live

• Estimated rent: $1,749 medium
• Mortgage (P&I): −$104
• Tax from tax record: −$37 /mo · $445/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$367
• Net cashflow: $1,232

Break-even live

Break-even rent $190

Max offer price $19,900

Occupancy floor 25%

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: $4,975
• Closing costs: $597
• Reserves months: —
• Total cash needed: —

Rent comps 2 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	$3,067	$1.57	44d	12	0.86mi
201 S 8th St Quincy, IL	2.0	2.5	1785	$1,800	$1.01	44d	1	1.06mi

Listing history 23 events

1. 2026-06-09
   days on market $19,900 Under Contract 197 DOM
2. 2026-06-08
   days on market $19,900 Under Contract 196 DOM
3. 2026-06-07
   days on market $19,900 Under Contract 195 DOM
4. 2026-06-03
   days on market $19,900 Under Contract 191 DOM
5. 2026-06-02
   days on market $19,900 Under Contract 190 DOM
6. 2026-06-01
   status $19,900 Under Contract 189 DOM
7. 2026-06-01
   days on market $19,900 Active 189 DOM
8. 2026-05-31
   days on market $19,900 Active 188 DOM
9. 2026-05-30
   days on market $19,900 Active 187 DOM
10. 2026-05-13
    price $19,900 247-char remark

    Show marketing remark (247 chars)

    WHAT A UNIQUE OPPORTUNITY! HOME AND BUSINESS ALL ON ONE PARCEL. THIS WAS ONCE USED AS THE BOOMING BUSINESS, FRANS FISH FRY. HOME NEEDS SOME WORK BUT HAS VERY GOOD BONES. COULD BE USED FOR HOME, RENTAL, COFFEE SHOP, or RESTAURANT. COMMERCIAL ZONED.

11. 2026-03-31
    price $22,000 247-char remark

    Show marketing remark (247 chars)

    WHAT A UNIQUE OPPORTUNITY! HOME AND BUSINESS ALL ON ONE PARCEL. THIS WAS ONCE USED AS THE BOOMING BUSINESS, FRANS FISH FRY. HOME NEEDS SOME WORK BUT HAS VERY GOOD BONES. COULD BE USED FOR HOME, RENTAL, COFFEE SHOP, or RESTAURANT. COMMERCIAL ZONED.

12. 2026-03-03
    status Active 247-char remark

    Show marketing remark (247 chars)

    WHAT A UNIQUE OPPORTUNITY! HOME AND BUSINESS ALL ON ONE PARCEL. THIS WAS ONCE USED AS THE BOOMING BUSINESS, FRANS FISH FRY. HOME NEEDS SOME WORK BUT HAS VERY GOOD BONES. COULD BE USED FOR HOME, RENTAL, COFFEE SHOP, or RESTAURANT. COMMERCIAL ZONED.

13. 2025-12-26
    historical Under Contract 247-char remark

    Show marketing remark (247 chars)

    WHAT A UNIQUE OPPORTUNITY! HOME AND BUSINESS ALL ON ONE PARCEL. THIS WAS ONCE USED AS THE BOOMING BUSINESS, FRANS FISH FRY. HOME NEEDS SOME WORK BUT HAS VERY GOOD BONES. COULD BE USED FOR HOME, RENTAL, COFFEE SHOP, or RESTAURANT. COMMERCIAL ZONED.

14. 2025-11-24
    listed $25,000 Active 247-char remark

    Show marketing remark (247 chars)

    WHAT A UNIQUE OPPORTUNITY! HOME AND BUSINESS ALL ON ONE PARCEL. THIS WAS ONCE USED AS THE BOOMING BUSINESS, FRANS FISH FRY. HOME NEEDS SOME WORK BUT HAS VERY GOOD BONES. COULD BE USED FOR HOME, RENTAL, COFFEE SHOP, or RESTAURANT. COMMERCIAL ZONED.

15. 2025-05-23
    soldstatus $24,000 Closed 302-char remark

    Show marketing remark (302 chars)

    WHAT A UNIQUE OPPORTUNITY. HOME AND BUSINESS ALL ON ONE PARCEL. THIS WAS ONCE USED AS THE BOOMING BUSINESS, FRANS FISH FRY. THE LAST SEVERAL YEARS IT HAS BEEN USED AS A RENTAL WITH A WALK-UP BASEMENT. HOME NEEDS SOME WORK BUT HAS VERY GOOD BONES. COULD BE USED FOR HOME, RENTAL, COFFEE SHOP, RESTAURANT

16. 2025-03-29
    historical Under Contract 302-char remark

    Show marketing remark (302 chars)

    WHAT A UNIQUE OPPORTUNITY. HOME AND BUSINESS ALL ON ONE PARCEL. THIS WAS ONCE USED AS THE BOOMING BUSINESS, FRANS FISH FRY. THE LAST SEVERAL YEARS IT HAS BEEN USED AS A RENTAL WITH A WALK-UP BASEMENT. HOME NEEDS SOME WORK BUT HAS VERY GOOD BONES. COULD BE USED FOR HOME, RENTAL, COFFEE SHOP, RESTAURANT

17. 2024-09-10
    listed $28,000 Active 302-char remark

    Show marketing remark (302 chars)

    WHAT A UNIQUE OPPORTUNITY. HOME AND BUSINESS ALL ON ONE PARCEL. THIS WAS ONCE USED AS THE BOOMING BUSINESS, FRANS FISH FRY. THE LAST SEVERAL YEARS IT HAS BEEN USED AS A RENTAL WITH A WALK-UP BASEMENT. HOME NEEDS SOME WORK BUT HAS VERY GOOD BONES. COULD BE USED FOR HOME, RENTAL, COFFEE SHOP, RESTAURANT

18. 2024-05-01
    historical
19. 2023-10-24
    listed Active
20. 2010-06-29
    soldstatus $60,000
21. 2010-06-29
    soldstatus $60,000
22. 2009-09-23
    listed $75,000
23. 2009-09-23
    listed $75,000

ⓘ 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: $445 · $37/mo
• Projected year-2 tax: $448 · $37/mo
• Expected delta: +$3/yr ($0/mo · 0.7%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 69% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥107°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: $20,993
• − Mortgage interest: −$1,115
• − Property taxes: −$445
• − Insurance: −$100
• − Repairs & maintenance: −$1,679
• − Management: −$1,679
• − Depreciation: −$579
• Taxable income: $15,395
• Est. tax owed @ 24.0%: −$3,695
• After-tax cash flow: $11,092/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

-73.5% since first listed

14 events — show timeline

• 2026-05-13 Price Changed $19,900 RMLSA as Distributed by MLS Grid
• 2026-03-31 Price Changed $22,000 RMLSA as Distributed by MLS Grid
• 2026-03-03 Relisted — RMLSA as Distributed by MLS Grid
• 2025-12-26 Contingent — RMLSA as Distributed by MLS Grid
• 2025-11-24 Listed $25,000 RMLSA as Distributed by MLS Grid
• 2025-05-23 Sold (MLS) $24,000 RMLSA as Distributed by MLS Grid
• 2025-03-29 Contingent — RMLSA as Distributed by MLS Grid
• 2024-09-10 Listed $28,000 RMLSA as Distributed by MLS Grid
• 2024-05-01 Listing Removed — RMLSA as Distributed by MLS Grid
• 2023-10-24 Listed — RMLSA as Distributed by MLS Grid
• 2010-06-29 Sold (MLS) $60,000 RMLSA as Distributed by MLS Grid
• 2010-06-29 Sold (MLS) $60,000 MRED as Distributed by MLS Grid
• 2009-09-23 Listed $75,000 RMLSA as Distributed by MLS Grid
• 2009-09-23 Listed $75,000 MRED as Distributed by MLS Grid

Property tax history

+4.7%/yr

Latest (2023): $445 · +13.0% YoY. Source: county tax records.