312 N Main St · Harrisburg, IL 62946

$109,000

6 bd · 4.0 ba · 2,678 sqft · SingleFamily · 142 Days on market

Built 1920 3,920 sqft lot $41/sqft · 37% below area Est $174k · 37% under

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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 +19.3/30.0
• ARV discount +15.0/15.0
• DSCR +6.1/10.0
• 1% rule +5.7/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Well maintained duplex and a separate single family home, offering excellent income potential in Harrisburg. All 3 units are currently occupied. The duplex is a 1,886 sqft 2 story home with vinyl and metal siding and a composite roof, with a large portion replaced approximately 4 years ago. Windows have been replaced and the interior features laminate and LVT flooring with paneling and wood walls. The duplex consists of one unit on the first floor and one unit on the second floor. First floor unit: 2 bed/2 full (recently updated) baths, walk out unfinished basement with washer/dryer, forced air heating and cooling (2020), currently rented at $600 a month. Second floor unit: 2 bed/1 bath, baseboard heat and window unit A/C, currently rented for $600 a month. The single-family home is 792 sqft with aluminum siding and a composite roof replaced in 2014. The interior offers 2 bed/1 bath, new paint and plumbing. This unit has gas forced-air heating and central A/C (2020) and is currently rented for $700 a month. All units include a deck. Total gross income $1900 per month/$22,800 annually.

Key facts

• Composite roof
• 3,920 sq ft lot
• 3 parking spots

Tags

• VINYL AND METAL SIDING
• COMPOSITE ROOF
• LAMINATE AND LVT FLOORING
• PANELING AND WOOD WALLS
• WALK OUT UNFINISHED BASEMENT
• FORCED AIR HEATING AND COOLING

🏷️ Possibly a rental listed for sale. The $109,000 price doesn't fit this home's estimated sale value (~$174,382) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 6-bed/4.0-bath single-family listed at $109k.

Deal economics

• At list price, monthly cash flow is $120 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $109k).
• Recommended offer: $96k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.6% vs local median 5.1% in Harrisburg — 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 72/100 on livability (#309 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, commute F, employment F.
• Harrisburg CUSD 3 (town): math 5% / reading 25% proficiency, ranked #521 of 620 in IL (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 73 active listings in the ZIP.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $754 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Saline County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 142 days — a 12% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 17y ago; this cycle's ask has dropped $11k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $76k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $95,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 142 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 1920 — 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 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. 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.
7. 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.
8. 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: 1.07% ✓
• Cap rate: 7.61%
• Cash-on-cash: 4.70%
• DSCR: 1.21
• GRM: 7.8

CMA / ARV

• ARV (median comp): $174,382
• List price: $109,000
• Delta: -37.49%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -8.9%
• Equity multiple: 0.67×
• Total profit: $-10,005
• Equity at exit: $16,252

10-year hold

• IRR: 0.6%
• Equity multiple: 1.04×
• Total profit: $1,274
• Equity at exit: $9,424

Cash invested: $30,520 (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 62946

• Active inventory: 73
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,162 medium
• Mortgage (P&I): −$572
• Tax from tax record: −$182 /mo · $2,181/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$244
• Net cashflow: $120

Break-even live

Break-even rent $1,011

Max offer price $109,000

Occupancy floor 85%

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: $27,250
• Closing costs: $3,270
• Reserves months: —
• Total cash needed: —

Listing history 34 events

1. 2026-06-18
   days on market $109,000 Under Contract 142 DOM
2. 2026-06-17
   days on market $109,000 Under Contract 141 DOM
3. 2026-06-16
   days on market $109,000 Under Contract 140 DOM
4. 2026-06-15
   days on market $109,000 Under Contract 139 DOM
5. 2026-06-13
   days on market $109,000 Under Contract 137 DOM
6. 2026-06-12
   days on market $109,000 Under Contract 136 DOM
7. 2026-06-09
   days on market $109,000 Under Contract 133 DOM
8. 2026-06-08
   days on market $109,000 Under Contract 132 DOM
9. 2026-06-07
   days on market $109,000 Under Contract 131 DOM
10. 2026-06-07
    days on market $109,000 Under Contract 130 DOM
11. 2026-06-04
    days on market $109,000 Under Contract 127 DOM
12. 2026-06-02
    statusdays on market $109,000 Under Contract 126 DOM
13. 2026-06-01
    days on market $109,000 Active 125 DOM
14. 2026-05-31
    days on market $109,000 Active 124 DOM
15. 2026-05-31
    days on market $109,000 Active 123 DOM
16. 2026-01-28
    historical
17. 2026-01-27
    price $109,000 1102-char remark

    Show marketing remark (1102 chars)

    Well maintained duplex and a separate single family home, offering excellent income potential in Harrisburg. All 3 units are currently occupied. The duplex is a 1,886 sqft 2 story home with vinyl and metal siding and a composite roof, with a large portion replaced approximately 4 years ago. Windows have been replaced and the interior features laminate and LVT flooring with paneling and wood walls. The duplex consists of one unit on the first floor and one unit on the second floor. First floor unit: 2 bed/2 full (recently updated) baths, walk out unfinished basement with washer/dryer, forced air heating and cooling (2020), currently rented at $600 a month. Second floor unit: 2 bed/1 bath, baseboard heat and window unit A/C, currently rented for $600 a month. The single-family home is 792 sqft with aluminum siding and a composite roof replaced in 2014. The interior offers 2 bed/1 bath, new paint and plumbing. This unit has gas forced-air heating and central A/C (2020) and is currently rented for $700 a month. All units include a deck. Total gross income $1900 per month/$22,800 annually.

18. 2025-12-29
    listed Active

    Show marketing remark (1102 chars)

    Well maintained duplex and a separate single family home, offering excellent income potential in Harrisburg. All 3 units are currently occupied. The duplex is a 1,886 sqft 2 story home with vinyl and metal siding and a composite roof, with a large portion replaced approximately 4 years ago. Windows have been replaced and the interior features laminate and LVT flooring with paneling and wood walls. The duplex consists of one unit on the first floor and one unit on the second floor. First floor unit: 2 bed/2 full (recently updated) baths, walk out unfinished basement with washer/dryer, forced air heating and cooling (2020), currently rented at $600 a month. Second floor unit: 2 bed/1 bath, baseboard heat and window unit A/C, currently rented for $600 a month. The single-family home is 792 sqft with aluminum siding and a composite roof replaced in 2014. The interior offers 2 bed/1 bath, new paint and plumbing. This unit has gas forced-air heating and central A/C (2020) and is currently rented for $700 a month. All units include a deck. Total gross income $1900 per month/$22,800 annually.

19. 2025-12-29
    listed $120,000 Active 1102-char remark

    Show marketing remark (1102 chars)

    Well maintained duplex and a separate single family home, offering excellent income potential in Harrisburg. All 3 units are currently occupied. The duplex is a 1,886 sqft 2 story home with vinyl and metal siding and a composite roof, with a large portion replaced approximately 4 years ago. Windows have been replaced and the interior features laminate and LVT flooring with paneling and wood walls. The duplex consists of one unit on the first floor and one unit on the second floor. First floor unit: 2 bed/2 full (recently updated) baths, walk out unfinished basement with washer/dryer, forced air heating and cooling (2020), currently rented at $600 a month. Second floor unit: 2 bed/1 bath, baseboard heat and window unit A/C, currently rented for $600 a month. The single-family home is 792 sqft with aluminum siding and a composite roof replaced in 2014. The interior offers 2 bed/1 bath, new paint and plumbing. This unit has gas forced-air heating and central A/C (2020) and is currently rented for $700 a month. All units include a deck. Total gross income $1900 per month/$22,800 annually.

20. 2024-03-01
    soldstatus $76,000
21. 2024-03-01
    soldstatus $76,000 Closed
22. 2024-01-22
    historical Under Contract
23. 2023-10-28
    status Active
24. 2023-09-01
    historical Under Contract
25. 2023-05-27
    price $95,000
26. 2023-01-31
    price $102,000
27. 2022-07-22
    price $110,000
28. 2022-06-22
    listed $95,000
29. 2022-06-22
    listed $115,000 Active
30. 2015-10-19
    soldstatus $43,500
31. 2009-06-30
    soldstatus $15,000
32. 2009-06-30
    soldstatus $15,000
33. 2009-03-23
    listed $19,900
34. 2009-03-23
    listed $19,900

ⓘ 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: $2,181 · $182/mo
• Projected year-2 tax: $2,328 · $194/mo
• Expected delta: +$146/yr (+$12/mo · 6.7%)

ⓘ 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 5/10 Major 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% 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: $13,949
• − Mortgage interest: −$6,106
• − Property taxes: −$2,181
• − Insurance: −$545
• − Repairs & maintenance: −$1,116
• − Management: −$1,116
• − Depreciation: −$3,171
• Taxable loss: −$286
• Est. tax savings @ 24.0%: +$69
• After-tax cash flow: $1,503/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: Harrisburg CUSD 3
• NCES district ID: 1718270
• Math proficiency: 5% ▼ -5.00%
• Reading proficiency: 25% ▼ -9.00%
• Median HH income: $38,717
• Composite: 12.61/100
• National rank: #9613
• State rank: #521 of 620 in IL

Livability — Harrisburg

• Score: 72/100
• State rank: #309
• US rank: #6073

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Harrisburg, IL
• Population (ZIP): 11,465

Population outlook (Saline County) Hauer SSP2

• Today (2025): 23,915 people
• By 2030: 23,262 · -2.7%
• By 2040: 21,775 · -8.9%
• By 2050: 20,098 · -16.0%
• By 2075: 15,234 · -36.3%
• By 2100: 10,302 · -56.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Black 3%
• Common ancestry: Italian 2% Slovak 2% Serbian 2%
• Foreign-born: 0%

Political lean MEDSL · Saline

• 2024 margin: Solid R (+49.0) · D 24.8% · R 73.8% · Other 1.3%
• 2008→2024 swing: -40.1pp toward R · 2008: -8.9pp · 2024: -49.0pp
• All cycles: 2024: R+49.0 2020: R+47.9 2016: R+50.7 2012: R+29.0 2008: R+8.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -61.20%
• Current HPI: 102.6962
• 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

+447.7% since first listed

19 events — show timeline

• 2026-01-28 Listing Removed — MRED as Distributed by MLS Grid
• 2026-01-27 Price Changed $109,000 RMLSA as Distributed by MLS Grid
• 2025-12-29 Listed $120,000 RMLSA as Distributed by MLS Grid
• 2025-12-29 Listed — MRED as Distributed by MLS Grid
• 2024-03-01 Sold (MLS) $76,000 RMLSA as Distributed by MLS Grid
• 2024-03-01 Sold (MLS) $76,000 MRED as Distributed by MLS Grid
• 2024-01-22 Contingent — RMLSA as Distributed by MLS Grid
• 2023-10-28 Relisted — RMLSA as Distributed by MLS Grid
• 2023-09-01 Contingent — RMLSA as Distributed by MLS Grid
• 2023-05-27 Price Changed $95,000 RMLSA as Distributed by MLS Grid
• 2023-01-31 Price Changed $102,000 RMLSA as Distributed by MLS Grid
• 2022-07-22 Price Changed $110,000 RMLSA as Distributed by MLS Grid
• 2022-06-22 Listed $115,000 RMLSA as Distributed by MLS Grid
• 2022-06-22 Listed $95,000 MRED as Distributed by MLS Grid
• 2015-10-19 Sold (Public Records) $43,500 Public Records
• 2009-06-30 Sold (MLS) $15,000 MRED as Distributed by MLS Grid
• 2009-06-30 Sold (MLS) $15,000 RMLSA as Distributed by MLS Grid
• 2009-03-23 Listed $19,900 MRED as Distributed by MLS Grid
• 2009-03-23 Listed $19,900 RMLSA as Distributed by MLS Grid

Property tax history

-1.1%/yr

Latest (2024): $2,181 · +11.9% YoY. Source: county tax records.