709 1st St · Gillespie, IL 62033

$30,000

2 bd · 2.0 ba · 1,150 sqft · SingleFamily · 42 Days on market

Built 1940 7,248 sqft lot $26/sqft · 73% below area

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Why this score? — see what drove the B- 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity is knocking with this 2 bed, 2 bath two story home sitting on a spacious lot with a large privacy fenced backyard all just minutes from local baseball fields and the park. Priced at just $39,900, this property offers strong potential for investors or buyers looking to build equity. Inside, you’ll find a surprisingly spacious layout featuring original woodwork, custom wood ceilings, and exposed beams that give the home a unique character you don’t see every day. The main level offers open living space and a functional kitchen layout, while the upper level provides additional bedrooms and bathroom space with room to reimagine. This home does need work and is being sold as is, but the location combined with its character makes it a great candidate for a flip, rental, or affordable primary residence. Large backyard, convenient location near parks and recreation, and tons of upside opportunities like this don’t last long at this price.

Key facts

• 7,248 sq ft lot
• Built 1940
• Listed 42 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $30k.

Deal economics

• At list price, monthly cash flow is $520 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($994 rent vs $30k).
• Recommended offer: $29k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 74/100 on livability (#261 in IL, #4,848 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: schools D-, amenities F, commute D-.
• Gillespie CUSD 7 (town): math 14% / reading 20% proficiency, ranked #485 of 620 in IL (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 21 active listings in the ZIP; 70 units permitted in Macoupin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $207 of loan paydown is wiped out by about $900 of value loss. Plan a longer hold.
• Macoupin County population projected at -27% 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 $8k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($29k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $12k; list at $30k implies a 150% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.8% of price; built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $29,100 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 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 1940 — 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 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. 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: 3.31% ✓
• Cap rate: 27.09%
• Cash-on-cash: 74.28%
• DSCR: 4.30
• GRM: 2.5

CMA / ARV

• ARV (median comp): $109,624
• List price: $30,000
• Delta: -72.63%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
708 Madison St	0.22mi	3/2.0 (+1)	1,180 (+3%)	7mo	$149,900	$127	74
803 S Madison St	0.20mi	3/1.0 (+1)	1,200 (+4%)	12mo	$21,000	$18	64
600 W Wilson Ave	0.50mi	2/2.5	1,200 (+4%)	16mo	$159,000	$133	54
211 W Baker St	0.27mi	2/1.0	1,010 (-12%)	18mo	$50,000	$50	48
411 W Chestnut St	0.51mi	2/1.0	1,092 (-5%)	23mo	$19,900	$18	44
504 Henrietta St	0.48mi	3/1.0 (+1)	1,047 (-9%)	11mo	$105,000	$100	44
414 W Walnut	0.55mi	2/1.5	1,060 (-8%)	20mo	$27,500	$26	43
300 W Maple St	0.68mi	2/1.5	1,032 (-10%)	21mo	$124,800	$121	31

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 74.2%
• Equity multiple: 4.37×
• Total profit: $28,304
• Equity at exit: $4,473

10-year hold

• IRR: 77.9%
• Equity multiple: 9.03×
• Total profit: $67,492
• Equity at exit: $2,594

Cash invested: $8,400 (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 62033

• Home prices YoY: -25.4%
• Active inventory: 21
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $994 medium
• Mortgage (P&I): −$157
• Tax from tax record: −$95 /mo · $1,144/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$209
• Net cashflow: $520

Break-even live

Break-even rent $336

Max offer price $30,000

Occupancy floor 43%

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: $7,500
• Closing costs: $900
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-05-16
   status Pending 978-char remark

   Show marketing remark (978 chars)

   Opportunity is knocking with this 2 bed, 2 bath two story home sitting on a spacious lot with a large privacy fenced backyard all just minutes from local baseball fields and the park. Priced at just $39,900, this property offers strong potential for investors or buyers looking to build equity. Inside, you’ll find a surprisingly spacious layout featuring original woodwork, custom wood ceilings, and exposed beams that give the home a unique character you don’t see every day. The main level offers open living space and a functional kitchen layout, while the upper level provides additional bedrooms and bathroom space with room to reimagine. This home does need work and is being sold as is, but the location combined with its character makes it a great candidate for a flip, rental, or affordable primary residence. Large backyard, convenient location near parks and recreation, and tons of upside opportunities like this don’t last long at this price.

2. 2026-05-08
   price $30,000 978-char remark

   Show marketing remark (978 chars)

   Opportunity is knocking with this 2 bed, 2 bath two story home sitting on a spacious lot with a large privacy fenced backyard all just minutes from local baseball fields and the park. Priced at just $39,900, this property offers strong potential for investors or buyers looking to build equity. Inside, you’ll find a surprisingly spacious layout featuring original woodwork, custom wood ceilings, and exposed beams that give the home a unique character you don’t see every day. The main level offers open living space and a functional kitchen layout, while the upper level provides additional bedrooms and bathroom space with room to reimagine. This home does need work and is being sold as is, but the location combined with its character makes it a great candidate for a flip, rental, or affordable primary residence. Large backyard, convenient location near parks and recreation, and tons of upside opportunities like this don’t last long at this price.

3. 2026-04-04
   listed $39,900 Active 978-char remark

   Show marketing remark (978 chars)

   Opportunity is knocking with this 2 bed, 2 bath two story home sitting on a spacious lot with a large privacy fenced backyard all just minutes from local baseball fields and the park. Priced at just $39,900, this property offers strong potential for investors or buyers looking to build equity. Inside, you’ll find a surprisingly spacious layout featuring original woodwork, custom wood ceilings, and exposed beams that give the home a unique character you don’t see every day. The main level offers open living space and a functional kitchen layout, while the upper level provides additional bedrooms and bathroom space with room to reimagine. This home does need work and is being sold as is, but the location combined with its character makes it a great candidate for a flip, rental, or affordable primary residence. Large backyard, convenient location near parks and recreation, and tons of upside opportunities like this don’t last long at this price.

4. 2026-04-04
   historical $39,900 978-char remark

   Show marketing remark (978 chars)

   Opportunity is knocking with this 2 bed, 2 bath two story home sitting on a spacious lot with a large privacy fenced backyard all just minutes from local baseball fields and the park. Priced at just $39,900, this property offers strong potential for investors or buyers looking to build equity. Inside, you’ll find a surprisingly spacious layout featuring original woodwork, custom wood ceilings, and exposed beams that give the home a unique character you don’t see every day. The main level offers open living space and a functional kitchen layout, while the upper level provides additional bedrooms and bathroom space with room to reimagine. This home does need work and is being sold as is, but the location combined with its character makes it a great candidate for a flip, rental, or affordable primary residence. Large backyard, convenient location near parks and recreation, and tons of upside opportunities like this don’t last long at this price.

5. 2025-11-07
   price $50,000
6. 2025-09-09
   listed $55,000 Active
7. 2011-04-01
   soldstatus $12,000

ⓘ 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: $1,144 · $95/mo
• Projected year-2 tax: $1,144 · $95/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 · 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 4/10 Moderate 3 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,925
• − Mortgage interest: −$1,680
• − Property taxes: −$1,144
• − Insurance: −$150
• − Repairs & maintenance: −$954
• − Management: −$954
• − Depreciation: −$873
• Taxable income: $6,170
• Est. tax owed @ 24.0%: −$1,481
• After-tax cash flow: $4,758/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: Gillespie CUSD 7
• NCES district ID: 1716680
• Math proficiency: 14% ▼ -12.00%
• Reading proficiency: 20% ▼ -19.00%
• Median HH income: $41,399
• Composite: 14.59/100
• National rank: #9413
• State rank: #485 of 620 in IL

Livability — Gillespie

• Score: 74/100
• State rank: #261
• US rank: #4848

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gillespie, IL
• Population (ZIP): 4,398

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 (93%)
• Race & ethnicity: White 93% Two or more races 6%
• Common ancestry: Slovak 3% Romanian 2% Serbian 1%
• Foreign-born: 0%

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: ▼ -46.59%
• Current HPI: 136.9671
• 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

+150.0% since first listed

7 events — show timeline

• 2026-05-16 Pending — MARIS as Distributed by MLS Grid
• 2026-05-08 Price Changed $30,000 MARIS as Distributed by MLS Grid
• 2026-04-04 Listed $39,900 MARIS as Distributed by MLS Grid
• 2026-04-04 Coming Soon $39,900 MARIS as Distributed by MLS Grid
• 2025-11-07 Price Changed $50,000 MARIS as Distributed by MLS Grid
• 2025-09-09 Listed $55,000 MARIS as Distributed by MLS Grid
• 2011-04-01 Sold (Public Records) $12,000 Public Records

Property tax history

+2.3%/yr

Latest (2024): $1,144 · +3.9% YoY. Source: county tax records.