407 Middleton St · Iuka, IL 62849

$79,900

3 bd · 1.0 ba · 1,040 sqft · SingleFamily public records · 22 Days on market

Built 1935 0.31 ac lot

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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 +29.2/30.0
• DSCR +10.0/10.0
• Appreciation +8.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.1/10.0
• Livability +3.0/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Great starter home on a beautifully landscaped corner lot, located very close to the Iuka Grade School. 3 bedroom 1 bath with the master bedroom located on the main level. All appliances and furniture are included with an accepted offer. 24X14 pole building with electric and a concrete floor. Additional lots with a water meter (buyer would need to hook up) are on the corner of Main Street and Middleton Street, they have been surveyed and could easily be sub-divided should the new owner desire.

Key facts

• Pole barn
• Workspace
• Ample storage

Tags

• POLE BARN
• WORKSPACE
• AMPLE STORAGE

Property features AI

Finance

• Other: Living area per assessor; Home not reported as rebuilt or rehabilitated
• HOA & community: No master association fee required

Exterior

• Parking: 2 parking spaces
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; 1.5-story design; Fee simple ownership; Vinyl siding exterior; Built before 1978 (age 91–100 years)
• Construction: Vinyl siding construction
• Exterior features: Lot dimensions approximately 112 x 120; Lot roughly 0.25–0.49 acre; Unincorporated location

Interior

• Kitchen: Kitchen on main level (14 x 14)
• Bedrooms: 3 bedrooms (Master on main; two additional bedrooms on second floor: 13 x 14 and 12 x 13)
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: 5 total rooms; Crawl space basement
• Laundry & utility: Main-level laundry (12 x 18)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $278 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($965 rent vs $80k).
• Recommended offer: $79k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 59/100 on livability (#1,045 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Salem Chsd 600 (town): math 25% / reading 30% proficiency, ranked #571 of 919 in IL (top 62%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Salem Community High School (math 22% / reading 17%, grade F, #397 of 693 statewide, top 61%, 732 students, 0% FRL).
• Market conditions: 10 active listings in the ZIP; 2 units permitted in Marion County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($552 loan paydown + $5k appreciation (5.9% local appreciation)).
• Marion County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.9% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 9y 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 $55k; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $78,701 (1.5% below list)

Questions for the listing agent

1. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.21% ✓
• Cap rate: 10.46%
• Cash-on-cash: 14.89%
• DSCR: 1.66
• GRM: 6.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.93% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 27.6%
• Equity multiple: 2.81×
• Total profit: $40,391
• Equity at exit: $49,874

10-year hold

• IRR: 25.9%
• Equity multiple: 5.69×
• Total profit: $104,997
• Equity at exit: $90,140

Cash invested: $22,372 (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 62849

• Home prices YoY: 5.2%
• Active inventory: 10
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $965 medium
• Mortgage (P&I): −$419
• Tax from tax record: −$33 /mo · $391/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$203
• Net cashflow: $278

Break-even live

Break-even rent $614

Max offer price $79,900

Occupancy floor 66%

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-13
   status $79,900 Pending 22 DOM
2. 2026-06-12
   days on market $79,900 Active 22 DOM
3. 2026-06-09
   days on market $79,900 Active 19 DOM
4. 2026-06-08
   days on market $79,900 Active 18 DOM
5. 2026-06-07
   days on market $79,900 Active 17 DOM
6. 2026-06-07
   days on market $79,900 Active 16 DOM
7. 2026-06-04
   days on market $79,900 Active 13 DOM
8. 2026-06-02
   days on market $79,900 Active 12 DOM
9. 2026-06-01
   days on market $79,900 Active 11 DOM
10. 2026-05-31
    days on market $79,900 Active 10 DOM
11. 2026-05-31
    days on market $79,900 Active 9 DOM
12. 2026-05-21
    listed $79,900 Active
13. 2022-08-26
    soldstatus $55,000
14. 2022-08-25
    soldstatus $55,000 Closed 502-char remark

    Show marketing remark (502 chars)

    Great starter home on a beautifully landscaped corner lot, located very close to the Iuka Grade School. 3 bedroom 1 bath with the master bedroom located on the main level. All appliances and furniture are included with an accepted offer. 24X14 pole building with electric and a concrete floor. Additional lots with a water meter (buyer would need to hook up) are on the corner of Main Street and Middleton Street, they have been surveyed and could easily be sub-divided should the new owner desire.

15. 2022-08-25
    soldstatus $55,000 502-char remark

    Show marketing remark (502 chars)

    Great starter home on a beautifully landscaped corner lot, located very close to the Iuka Grade School. 3 bedroom 1 bath with the master bedroom located on the main level. All appliances and furniture are included with an accepted offer. 24X14 pole building with electric and a concrete floor. Additional lots with a water meter (buyer would need to hook up) are on the corner of Main Street and Middleton Street, they have been surveyed and could easily be sub-divided should the new owner desire.

16. 2022-07-25
    historical Under Contract 502-char remark

    Show marketing remark (502 chars)

    Great starter home on a beautifully landscaped corner lot, located very close to the Iuka Grade School. 3 bedroom 1 bath with the master bedroom located on the main level. All appliances and furniture are included with an accepted offer. 24X14 pole building with electric and a concrete floor. Additional lots with a water meter (buyer would need to hook up) are on the corner of Main Street and Middleton Street, they have been surveyed and could easily be sub-divided should the new owner desire.

17. 2022-07-22
    price $55,000 502-char remark

    Show marketing remark (502 chars)

    Great starter home on a beautifully landscaped corner lot, located very close to the Iuka Grade School. 3 bedroom 1 bath with the master bedroom located on the main level. All appliances and furniture are included with an accepted offer. 24X14 pole building with electric and a concrete floor. Additional lots with a water meter (buyer would need to hook up) are on the corner of Main Street and Middleton Street, they have been surveyed and could easily be sub-divided should the new owner desire.

18. 2022-06-01
    listed $62,900 Active 502-char remark

    Show marketing remark (502 chars)

    Great starter home on a beautifully landscaped corner lot, located very close to the Iuka Grade School. 3 bedroom 1 bath with the master bedroom located on the main level. All appliances and furniture are included with an accepted offer. 24X14 pole building with electric and a concrete floor. Additional lots with a water meter (buyer would need to hook up) are on the corner of Main Street and Middleton Street, they have been surveyed and could easily be sub-divided should the new owner desire.

19. 2022-06-01
    listed $55,000 502-char remark

    Show marketing remark (502 chars)

    Great starter home on a beautifully landscaped corner lot, located very close to the Iuka Grade School. 3 bedroom 1 bath with the master bedroom located on the main level. All appliances and furniture are included with an accepted offer. 24X14 pole building with electric and a concrete floor. Additional lots with a water meter (buyer would need to hook up) are on the corner of Main Street and Middleton Street, they have been surveyed and could easily be sub-divided should the new owner desire.

20. 2017-11-20
    soldstatus $39,900 135-char remark

    Show marketing remark (135 chars)

    Nice Corner Block, well maintained older 3 bedroom home sits on 5 lots! Located just across from grade school. Washer, Dryer, Wall Over

21. 2017-11-20
    soldstatus $39,900 135-char remark

    Show marketing remark (135 chars)

    Nice Corner Block, well maintained older 3 bedroom home sits on 5 lots! Located just across from grade school. Washer, Dryer, Wall Over

22. 2017-10-03
    listed $39,900 135-char remark

    Show marketing remark (135 chars)

    Nice Corner Block, well maintained older 3 bedroom home sits on 5 lots! Located just across from grade school. Washer, Dryer, Wall Over

23. 2017-10-03
    listed $39,900 135-char remark

    Show marketing remark (135 chars)

    Nice Corner Block, well maintained older 3 bedroom home sits on 5 lots! Located just across from grade school. Washer, Dryer, Wall Over

ⓘ 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: $391 · $33/mo
• Projected year-2 tax: $1,102 · $92/mo
• Expected delta: +$711/yr (+$59/mo · 181.9%)

ⓘ 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 · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,582
• − Mortgage interest: −$4,476
• − Property taxes: −$391
• − Insurance: −$400
• − Repairs & maintenance: −$927
• − Management: −$927
• − Depreciation: −$2,324
• Taxable income: $2,139
• Est. tax owed @ 24.0%: −$513
• After-tax cash flow: $2,818/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: Salem Chsd 600
• NCES district ID: 1735190
• Math proficiency: 25% ▲ 10.00%
• Reading proficiency: 30% ▲ 5.00%
• Median HH income: $39,305
• Composite: 26.04/100
• National rank: #12738
• State rank: #571 of 919 in IL

Livability — Iuka

• Score: 59/100
• State rank: #1045
• US rank: #20042

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: Iuka, IL
• Population (ZIP): 1,904

Population outlook (Marion County) Hauer SSP2

• Today (2025): 36,071 people
• By 2030: 34,598 · -4.1%
• By 2040: 31,754 · -12.0%
• By 2050: 28,912 · -19.8%
• By 2075: 22,527 · -37.5%
• By 2100: 16,455 · -54.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 6% Hispanic / Latino 4%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 1%
• Foreign-born: 2% · Canada, China
• Languages at home: 96% English-only · Spanish 2% Chinese 1%

Political lean MEDSL · Marion

• 2024 margin: Solid R (+49.5) · D 24.6% · R 74.1% · Other 1.4%
• 2008→2024 swing: -47.5pp toward R · 2008: -2.0pp · 2024: -49.5pp
• All cycles: 2024: R+49.5 2020: R+46.6 2016: R+44.9 2012: R+19.2 2008: R+2.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.93%
• Current HPI: 120.6826
• 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

+100.3% since first listed

12 events — show timeline

• 2026-05-21 Listed $79,900 MRED as Distributed by MLS Grid
• 2022-08-26 Sold (Public Records) $55,000 Public Records
• 2022-08-25 Sold (MLS) $55,000 MRED as Distributed by MLS Grid
• 2022-08-25 Sold (MLS) $55,000 RMLSA as Distributed by MLS Grid
• 2022-07-25 Contingent — RMLSA as Distributed by MLS Grid
• 2022-07-22 Price Changed $55,000 RMLSA as Distributed by MLS Grid
• 2022-06-01 Listed $55,000 MRED as Distributed by MLS Grid
• 2022-06-01 Listed $62,900 RMLSA as Distributed by MLS Grid
• 2017-11-20 Sold (MLS) $39,900 RMLSA as Distributed by MLS Grid
• 2017-11-20 Sold (MLS) $39,900 MRED as Distributed by MLS Grid
• 2017-10-03 Listed $39,900 RMLSA as Distributed by MLS Grid
• 2017-10-03 Listed $39,900 MRED as Distributed by MLS Grid

Property tax history

+10.2%/yr

Latest (2024): $391 · -49.2% YoY. Source: county tax records.