506 Alsey Smith Rd · Alsey, IL 62610

$90,000

3 bd · 1.0 ba · 1,075 sqft · Other public records · 50 Days on market

Built 1920 4,305 sqft lot $84/sqft · at area comps Est $119k · 25% under

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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 +25.7/30.0
• ARV discount +15.0/15.0
• DSCR +8.6/10.0
• 1% rule +6.4/10.0
• Appreciation +5.0/10.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Listing remarks MLS

If you’re seeking the convenience of one-level living in a smaller community, check out this 7-room home in Alsey. Rooms include: living room, dining room, kitchen, 2 bedrooms, full bath, back entry/mud room, bonus room. The home is situated on a large lot and includes a 12’x12’ storage shed with concrete floors. Gas wall mount heater, window air conditioner.

Key facts

• Extensive insulation
• Storage shed
• New roof

Tags

• NEW ROOF
• UPGRADED 200 AMP ELECTRIC
• EXTENSIVE INSULATION
• STORAGE SHED
• LAWN AND YARD ENHANCEMENTS

Property features AI

Exterior

• Parking: Gravel parking; No garage
• Utilities: Public water; Septic system
• Home design: Single-family residence; Shingle roof; Built in 1920; 1376 total building area
• Construction: Shingle roof
• Exterior features: Shed(s); Replacement windows; Level lot; Paved road access

Interior

• Kitchen: Refrigerator; Dishwasher; Microwave
• Bedrooms: 3 bedrooms (primary bedroom on the main level; other bedrooms on the main level)
• Flooring: Laminate; Carpet; Luxury vinyl plank
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Heat pump; Wall units; Multiple heating systems; High-efficiency heating; High-efficiency air conditioning
• Interior features: Attic storage; No basement
• Laundry & utility: Washer; Dryer; Main-level laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $90k.

Deal economics

• At list price, monthly cash flow is $215 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 54/100 on livability (#1,275 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-; Watch: crime F, amenities F, commute F.
• Winchester CUSD 1 (rural): math 26% / reading 29% proficiency, ranked #281 of 620 in IL (top 45%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Winchester High School (math 5% / reading 15%, grade F, #528 of 693 statewide, top 82%, 165 students, 0% FRL) — zoned schools average 0% FRL vs 36% district-wide (36 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 10% at this address vs 28% district-wide (-18 pts) — the specific schools serving this property underperform the Winchester CUSD 1 average; the district grade overstates school quality for this exact location.
• Market conditions: 1 active listings in the ZIP.

Forward outlook

• In year one you build about $3k of equity ($622 loan paydown + $3k appreciation (3.0% local appreciation)).
• Scott 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 $25k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 19y 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 $40k; list at $90k implies a 125% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $87,300 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 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 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is F 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?
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: 1.14% ✓
• Cap rate: 9.17%
• Cash-on-cash: 10.26%
• DSCR: 1.46
• GRM: 7.3

CMA / ARV

• ARV (median comp): $119,440
• List price: $90,000
• Delta: -24.65%
• 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: 17.1%
• Equity multiple: 1.97×
• Total profit: $24,562
• Equity at exit: $40,468

10-year hold

• IRR: 18.6%
• Equity multiple: 3.71×
• Total profit: $68,215
• Equity at exit: $62,366

Cash invested: $25,200 (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 62610

• Active inventory: 1
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,022 medium
• Mortgage (P&I): −$472
• Tax from tax record: −$82 /mo · $990/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$215
• Net cashflow: $215

Break-even live

Break-even rent $749

Max offer price $90,000

Occupancy floor 74%

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $90,000 Active 50 DOM
2. 2026-06-17
   days on market $90,000 Active 49 DOM
3. 2026-06-16
   days on market $90,000 Active 48 DOM
4. 2026-06-15
   days on market $90,000 Active 47 DOM
5. 2026-06-13
   days on market $90,000 Active 45 DOM
6. 2026-06-12
   days on market $90,000 Active 44 DOM
7. 2026-06-09
   days on market $90,000 Active 41 DOM
8. 2026-06-08
   days on market $90,000 Active 40 DOM
9. 2026-06-07
   days on market $90,000 Active 39 DOM
10. 2026-06-07
    days on market $90,000 Active 38 DOM
11. 2026-06-04
    days on market $90,000 Active 35 DOM
12. 2026-06-02
    days on market $90,000 Active 34 DOM
13. 2026-06-01
    days on market $90,000 Active 33 DOM
14. 2026-05-31
    days on market $90,000 Active 32 DOM
15. 2026-05-31
    days on market $90,000 Active 31 DOM
16. 2026-04-29
    listed $90,000 Active 729-char remark
17. 2021-09-20
    soldstatus $40,000 379-char remark

    Show marketing remark (379 chars)

    If you’re seeking the convenience of one-level living in a smaller community, check out this 7-room home in Alsey. Rooms include: living room, dining room, kitchen, 2 bedrooms, full bath, back entry/mud room, bonus room. The home is situated on a large lot and includes a 12’x12’ storage shed with concrete floors. Gas wall mount heater, window air conditioner.

18. 2020-06-22
    listed $45,000 379-char remark

    Show marketing remark (379 chars)

    If you’re seeking the convenience of one-level living in a smaller community, check out this 7-room home in Alsey. Rooms include: living room, dining room, kitchen, 2 bedrooms, full bath, back entry/mud room, bonus room. The home is situated on a large lot and includes a 12’x12’ storage shed with concrete floors. Gas wall mount heater, window air conditioner.

19. 2007-06-25
    soldstatus $6,000

    Show marketing remark (114 chars)

    Sold `as-is`. See agent for additional addendums. Pre-approved or proof of funds required. No Central heat or air.

20. 2007-04-09
    listed $19,900

    Show marketing remark (114 chars)

    Sold `as-is`. See agent for additional addendums. Pre-approved or proof of funds required. No Central heat or air.

21. 2005-06-22
    soldstatus $45,000

ⓘ 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: $990 · $82/mo
• Projected year-2 tax: $1,516 · $126/mo
• Expected delta: +$527/yr (+$44/mo · 53.2%)

ⓘ 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 3/10 Moderate 7 d/yr ≥106°F today · 19 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,264
• − Mortgage interest: −$5,041
• − Property taxes: −$990
• − Insurance: −$450
• − Repairs & maintenance: −$981
• − Management: −$981
• − Depreciation: −$2,618
• Taxable income: $1,203
• Est. tax owed @ 24.0%: −$289
• After-tax cash flow: $2,297/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: Winchester CUSD 1
• NCES district ID: 1742660
• Math proficiency: 26% ▼ -3.00%
• Reading proficiency: 29% ▼ -5.00%
• Median HH income: $47,710
• Composite: 23.9/100
• National rank: #7792
• State rank: #281 of 620 in IL

Livability — Alsey

• Score: 54/100
• State rank: #1275
• US rank: #23972

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Alsey, IL
• Population (ZIP): 174

Population outlook (Scott County) Hauer SSP2

• Today (2025): 4,701 people
• By 2030: 4,451 · -5.3%
• By 2040: 3,970 · -15.5%
• By 2050: 3,445 · -26.7%
• By 2075: 2,371 · -49.6%
• By 2100: 1,506 · -68.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (99%)
• Race & ethnicity: White 99% Two or more races 1%
• Common ancestry: Slovak 3% Iranian 2%
• Languages at home: 97% English-only · Other Asian/Pacific 3%

Political lean MEDSL · Scott

• 2024 margin: Solid R (+61.2) · D 18.9% · R 80.0% · Other 1.1%
• 2008→2024 swing: -47.1pp toward R · 2008: -14.0pp · 2024: -61.2pp
• All cycles: 2024: R+61.2 2020: R+56.3 2016: R+55.6 2012: R+26.5 2008: R+14.0

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

+100.0% since first listed

6 events — show timeline

• 2026-04-29 Listed $90,000 RMLSA as Distributed by MLS Grid
• 2021-09-20 Sold (MLS) $40,000 RMLSA as Distributed by MLS Grid
• 2020-06-22 Listed $45,000 RMLSA as Distributed by MLS Grid
• 2007-06-25 Sold (MLS) $6,000 RMLSA as Distributed by MLS Grid
• 2007-04-09 Listed $19,900 RMLSA as Distributed by MLS Grid
• 2005-06-22 Sold (Public Records) $45,000 Public Records

Property tax history

+6.9%/yr

Latest (2024): $990 · +5.7% YoY. Source: county tax records.