34 N Hickory St · Farmington, IL 61531

$59,000

4 bd · 1.0 ba · 1,720 sqft · Other · 10 Days on market

8,976 sqft 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

3-4 Bedroom home in Farmington School District. The Flexible space can be single family or 2 unit income property. Roof-20

Key facts

• 8,976 sq ft lot
• Listed 10 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath other listed at $59k.

Deal economics

• At list price, monthly cash flow is $348 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $59k).

Location & tenants

• Location reads 62/100 on livability (#835 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing B; Watch: amenities F, commute F, employment D-.
• Farmington Central CUSD 265 (rural): math 23% / reading 29% proficiency, ranked #293 of 620 in IL (top 47%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Farmington Central High Sch (math 17% / reading 17%, grade F, #430 of 693 statewide, top 66%, 375 students, 0% FRL) — zoned schools average 0% FRL vs 32% district-wide (32 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 12 active listings in the ZIP; 14 units permitted in Fulton County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $408 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Fulton County population projected at -20% 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 $17k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 18y 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 $33k; list at $59k implies a 79% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price.

Recommended offer $59,000

Questions for the listing agent

1. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 1.79% ✓
• Cap rate: 13.37%
• Cash-on-cash: 25.28%
• DSCR: 2.12
• GRM: 4.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 18.9%
• Equity multiple: 1.77×
• Total profit: $12,668
• Equity at exit: $8,797

10-year hold

• IRR: 27.3%
• Equity multiple: 3.41×
• Total profit: $39,829
• Equity at exit: $5,101

Cash invested: $16,520 (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 61531

• Active inventory: 12
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,054 medium
• Mortgage (P&I): −$309
• Tax from tax record: −$151 /mo · $1,810/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$221
• Net cashflow: $348

Break-even live

Break-even rent $614

Max offer price $59,000

Occupancy floor 62%

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: $14,750
• Closing costs: $1,770
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-04-06
   status Pending
2. 2026-03-26
   listed $59,000 Active
3. 2025-12-17
   historical
4. 2025-02-28
   historical
5. 2024-10-29
   listed Active
6. 2021-08-07
   historical
7. 2008-07-28
   soldstatus $33,000
8. 2008-07-25
   soldstatus $33,000
9. 2008-05-23
   listed $37,500

ⓘ 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: $1,810 · $151/mo
• Projected year-2 tax: $1,810 · $151/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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥104°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $12,651
• − Mortgage interest: −$3,305
• − Property taxes: −$1,810
• − Insurance: −$295
• − Repairs & maintenance: −$1,012
• − Management: −$1,012
• − Depreciation: −$1,716
• Taxable income: $3,500
• Est. tax owed @ 24.0%: −$840
• After-tax cash flow: $3,336/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: Farmington Central CUSD 265
• NCES district ID: 1700044
• Math proficiency: 23% ▼ -8.00%
• Reading proficiency: 29% ▼ -11.00%
• Median HH income: $54,785
• Composite: 23.33/100
• National rank: #7914
• State rank: #293 of 620 in IL

Livability — Farmington

• Score: 62/100
• State rank: #835
• US rank: #16471

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Farmington, IL
• Population (ZIP): 3,018

Population outlook (Fulton County) Hauer SSP2

• Today (2025): 33,356 people
• By 2030: 32,144 · -3.6%
• By 2040: 29,518 · -11.5%
• By 2050: 26,775 · -19.7%
• By 2075: 19,972 · -40.1%
• By 2100: 13,580 · -59.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 2%
• Common ancestry: Iranian 4% Portuguese 3% Slovak 3%
• Foreign-born: 0%
• Languages at home: 99% English-only · Spanish 0%

Political lean MEDSL · Fulton

• 2024 margin: Strong R (+23.8) · D 37.1% · R 60.9% · Other 2.0%
• 2008→2024 swing: -45.2pp toward R · 2008: 21.3pp · 2024: -23.8pp
• All cycles: 2024: R+23.8 2020: R+20.1 2016: R+15.1 2012: D+11.1 2008: D+21.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -62.69%
• Current HPI: 116.0611
• 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

+57.3% since first listed

9 events — show timeline

• 2026-04-06 Pending — RMLSA as Distributed by MLS Grid
• 2026-03-26 Listed $59,000 RMLSA as Distributed by MLS Grid
• 2025-12-17 Listing Removed — MRED as Distributed by MLS Grid
• 2025-02-28 Listing Removed — RMLSA as Distributed by MLS Grid
• 2024-10-29 Listed — RMLSA as Distributed by MLS Grid
• 2021-08-07 Listing Removed — RMLSA as Distributed by MLS Grid
• 2008-07-28 Sold (Public Records) $33,000 Public Records
• 2008-07-25 Sold (MLS) $33,000 RMLSA as Distributed by MLS Grid
• 2008-05-23 Listed $37,500 RMLSA as Distributed by MLS Grid

Property tax history

+1.6%/yr

Latest (2024): $1,810 · -2.5% YoY. Source: county tax records.