1228 S 12th St · Quincy, IL 62301

$119,900

3 bd · 1.5 ba · 1,518 sqft · SingleFamily · 170 Days on market

Built 1862 0.32 ac lot $79/sqft · 10% below area Est $134k · 10% under ↓ 11% since listing

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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
• ARV discount +12.2/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +5.0/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home! A wide, inviting front porch sets the tone as you step into a spacious, open living and dining area - perfect for relaxing or entertaining. This home offers easy one-level living with space to grow. You'll appreciate the peace of mind with a new furnace (2024), AC (2021), durable metal roof, and low-maintenance vinyl siding. The flexible layout includes two comfortable main-floor bedrooms (one with a private half bath), a third bedroom in the attic - ideal for a home office, guest space, or hobby room. Step outside to enjoy your private patio and nicely fenced backyard, perfect for summer BBQs, pets, or quiet evenings. Located in a convenient, walkable neighborhood, you're just minutes from parks and local shops. Additional features you'll love: walk-in shower, main-floor laundry, large storage shed, and off-street parking with ramp access for added convenience. This home combines comfort, convenience, and value - don't miss your chance to make it yours!

Key facts

• Metal roof
• Fenced yard
• Main floor laundry

Tags

• METAL ROOF
• VINYL SIDING
• FENCED YARD
• WALKING DISTANCE PARK
• MAIN FLOOR LAUNDRY
• OPEN CONCEPT LIVING ROOM

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $827 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.6% vs local median 4.3% in Quincy — 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 67/100 on livability (#506 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D+, crime D, employment D.
• Quincy SD 172 (town): math 24% / reading 27% proficiency, ranked #328 of 620 in IL (top 53%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+10.8%/yr); 180 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 68 units permitted in Adams County in 2024 (0 in 5+ unit buildings).
• At $2,083/mo this rent would consume 48% of the median local household income ($52k/yr) (locally 1238% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $829 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Adams County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $34k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 170 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 3y ago; this cycle's ask is 3% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1862 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $105,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 170 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 1862 — 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 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. Crime grade is D 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?
7. 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.
8. 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.
9. 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: 1.74% ✓
• Cap rate: 14.57%
• Cash-on-cash: 29.56%
• DSCR: 2.32
• GRM: 4.8

CMA / ARV

• ARV (median comp): $133,737
• List price: $119,900
• Delta: -13.34%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
820 S 16th St	0.50mi	4/2.0 (+1)	1,540 (+1%)	2mo	$175,000	$114	66
1118 S 16th St	0.34mi	2/2.0 (-1)	1,415 (-7%)	3mo	$155,000	$110	64
921 Adams	0.23mi	2/2.0 (-1)	1,320 (-13%)	1mo	$155,000	$117	60
716 S 17th St	0.63mi	2/1.0 (-1)	1,499 (-1%)	2mo	$125,000	$83	59
607 S 17th St	0.74mi	2/2.0 (-1)	1,510 (-0%)	3mo	$122,000	$81	56
1621 Jackson St	0.40mi	3/1.0	1,317 (-13%)	3mo	$74,000	$56	55
612 Monroe St	0.53mi	3/2.0	1,670 (+10%)	2mo	$57,500	$34	55
1112 Payson Ave	0.52mi	4/1.0 (+1)	1,645 (+8%)	3mo	$157,000	$95	53
828 S 11th St	0.37mi	4/1.0 (+1)	1,718 (+13%)	1mo	$140,500	$82	53
1512 State St	0.74mi	2/1.0 (-1)	1,600 (+5%)	0mo	$148,000	$93	49
631 S 11th St	0.57mi	3/1.5	1,300 (-14%)	2mo	$130,000	$100	48
530 S 9th	0.70mi	2/1.0 (-1)	1,340 (-12%)	1mo	$137,000	$102	40

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 29.6%
• Equity multiple: 2.32×
• Total profit: $44,280
• Equity at exit: $17,877

10-year hold

• IRR: 39.7%
• Equity multiple: 5.66×
• Total profit: $156,599
• Equity at exit: $10,367

Cash invested: $33,572 (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 62301

• Rents YoY: 10.8%
• Active inventory: 180
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $2,083 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$140 /mo · $1,682/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$438
• Net cashflow: $827

Break-even live

Break-even rent $1,037

Max offer price $119,900

Occupancy floor 55%

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
201 S 8th St Quincy, IL	2.0	2.5	1785	$1,800	$1.01	43d	1	1.06mi
116 N 3rd St Quincy, IL	1.0–4.0	1.0–2.0	1950	$4,333	$2.22	43d	12	1.38mi

Listing history 40 events

1. 2026-06-19
   days on market $119,900 Active 170 DOM
2. 2026-06-18
   days on market $119,900 Active 169 DOM
3. 2026-06-17
   days on market $119,900 Active 168 DOM
4. 2026-06-16
   days on market $119,900 Active 167 DOM
5. 2026-06-15
   days on market $119,900 Active 166 DOM
6. 2026-06-14
   days on market $119,900 Active 164 DOM
7. 2026-06-12
   pricedays on marketlisting id $119,900 Active 163 DOM
8. 2026-06-09
   days on market $115,900 Active 81 DOM
9. 2026-06-08
   days on market $115,900 Active 80 DOM
10. 2026-06-07
    days on market $115,900 Active 79 DOM
11. 2026-06-03
    days on market $115,900 Active 75 DOM
12. 2026-06-02
    days on market $115,900 Active 74 DOM
13. 2026-06-01
    days on market $115,900 Active 73 DOM
14. 2026-05-31
    days on market $115,900 Active 72 DOM
15. 2026-05-30
    days on market $115,900 Active 71 DOM
16. 2026-04-03
    status Active 982-char remark

    Show marketing remark (982 chars)

    Welcome home! A wide, inviting front porch sets the tone as you step into a spacious, open living and dining area - perfect for relaxing or entertaining. This home offers easy one-level living with space to grow. You'll appreciate the peace of mind with a new furnace (2024), AC (2021), durable metal roof, and low-maintenance vinyl siding. The flexible layout includes two comfortable main-floor bedrooms (one with a private half bath), a third bedroom in the attic - ideal for a home office, guest space, or hobby room. Step outside to enjoy your private patio and nicely fenced backyard, perfect for summer BBQs, pets, or quiet evenings. Located in a convenient, walkable neighborhood, you're just minutes from parks and local shops. Additional features you'll love: walk-in shower, main-floor laundry, large storage shed, and off-street parking with ramp access for added convenience. This home combines comfort, convenience, and value - don't miss your chance to make it yours!

17. 2026-03-25
    historical Contingent - Continue to Show 982-char remark

    Show marketing remark (982 chars)

    Welcome home! A wide, inviting front porch sets the tone as you step into a spacious, open living and dining area - perfect for relaxing or entertaining. This home offers easy one-level living with space to grow. You'll appreciate the peace of mind with a new furnace (2024), AC (2021), durable metal roof, and low-maintenance vinyl siding. The flexible layout includes two comfortable main-floor bedrooms (one with a private half bath), a third bedroom in the attic - ideal for a home office, guest space, or hobby room. Step outside to enjoy your private patio and nicely fenced backyard, perfect for summer BBQs, pets, or quiet evenings. Located in a convenient, walkable neighborhood, you're just minutes from parks and local shops. Additional features you'll love: walk-in shower, main-floor laundry, large storage shed, and off-street parking with ramp access for added convenience. This home combines comfort, convenience, and value - don't miss your chance to make it yours!

18. 2026-03-19
    listed $115,900 Active 982-char remark

    Show marketing remark (982 chars)

    Welcome home! A wide, inviting front porch sets the tone as you step into a spacious, open living and dining area - perfect for relaxing or entertaining. This home offers easy one-level living with space to grow. You'll appreciate the peace of mind with a new furnace (2024), AC (2021), durable metal roof, and low-maintenance vinyl siding. The flexible layout includes two comfortable main-floor bedrooms (one with a private half bath), a third bedroom in the attic - ideal for a home office, guest space, or hobby room. Step outside to enjoy your private patio and nicely fenced backyard, perfect for summer BBQs, pets, or quiet evenings. Located in a convenient, walkable neighborhood, you're just minutes from parks and local shops. Additional features you'll love: walk-in shower, main-floor laundry, large storage shed, and off-street parking with ramp access for added convenience. This home combines comfort, convenience, and value - don't miss your chance to make it yours!

19. 2026-01-30
    historical
20. 2026-01-30
    historical
21. 2025-12-10
    price
22. 2025-08-28
    price
23. 2025-08-04
    listed Active
24. 2025-08-04
    listed Active
25. 2025-08-04
    listed $119,900 Active
26. 2024-04-01
    soldstatus $120,000
27. 2024-03-26
    soldstatus $120,000 Closed
28. 2024-03-26
    soldstatus $120,000
29. 2024-03-26
    soldstatus $120,000 Closed
30. 2024-03-26
    soldstatus $120,000
31. 2024-02-26
    historical Active Under Contract
32. 2024-02-26
    historical Under Contract
33. 2023-12-18
    price $125,000
34. 2023-12-18
    price $125,000
35. 2023-12-14
    price $125,900
36. 2023-12-14
    price $125,900
37. 2023-09-15
    listed $129,900 Active
38. 2023-09-15
    listed $125,000
39. 2023-09-15
    listed $129,900 Active
40. 2023-09-15
    listed $125,000

ⓘ 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: $1,682 · $140/mo
• Projected year-2 tax: $2,202 · $183/mo
• Expected delta: +$520/yr (+$43/mo · 30.9%)

ⓘ 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 · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,001
• − Mortgage interest: −$6,716
• − Property taxes: −$1,682
• − Insurance: −$600
• − Repairs & maintenance: −$2,000
• − Management: −$2,000
• − Depreciation: −$3,488
• Taxable income: $8,515
• Est. tax owed @ 24.0%: −$2,044
• After-tax cash flow: $7,881/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: Quincy SD 172
• NCES district ID: 1733000
• Math proficiency: 24% ▬ 0.00%
• Reading proficiency: 27% ▬ 0.00%
• Median HH income: $44,132
• Composite: 21.91/100
• National rank: #8229
• State rank: #328 of 620 in IL

Livability — Quincy

• Score: 67/100
• State rank: #506
• US rank: #10458

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Quincy, IL
• County: Adams County · 30,746 people
• City population: 30,746
• Metro: Quincy, IL-MO
• Population (ZIP): 30,746
• Household income: $52,055
• Rent vs Own: 41.1% rent · 58.9% own
• Severe rent burden: 1238.0

Population outlook (Adams County) Hauer SSP2

• Today (2025): 65,795 people
• By 2030: 64,436 · -2.1%
• By 2040: 61,007 · -7.3%
• By 2050: 56,851 · -13.6%
• By 2075: 46,424 · -29.4%
• By 2100: 34,305 · -47.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 7% Black 6% Hispanic / Latino 3% Asian 1%
• Common ancestry: Slovak 2% Iranian 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Adams

• 2024 margin: Solid R (+47.4) · D 25.6% · R 73.0% · Other 1.5%
• 2008→2024 swing: -25.0pp toward R · 2008: -22.4pp · 2024: -47.4pp
• All cycles: 2024: R+47.4 2020: R+46.5 2016: R+47.5 2012: R+35.2 2008: R+22.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -121.44%
• Current HPI: 131.7344
• Rent YoY: ▲ 10.78%
• Metro: Quincy, IL-MO
• 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

-10.8% since first listed

25 events — show timeline

• 2026-04-03 Relisted — MRED as Distributed by MLS Grid
• 2026-03-25 Contingent — MRED as Distributed by MLS Grid
• 2026-03-19 Listed $115,900 MRED as Distributed by MLS Grid
• 2026-01-30 Listing Removed — RMLSA as Distributed by MLS Grid
• 2026-01-30 Listing Removed — MRED as Distributed by MLS Grid
• 2025-12-10 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-08-28 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-08-04 Listed $119,900 Quincy AOR
• 2025-08-04 Listed — RMLSA as Distributed by MLS Grid
• 2025-08-04 Listed — MRED as Distributed by MLS Grid
• 2024-04-01 Sold (Public Records) $120,000 Public Records
• 2024-03-26 Sold (MLS) $120,000 MRED as Distributed by MLS Grid
• 2024-03-26 Sold (MLS) $120,000 RMLSA as Distributed by MLS Grid
• 2024-03-26 Sold (MLS) $120,000 MRED as Distributed by MLS Grid
• 2024-03-26 Sold (MLS) $120,000 Quincy AOR
• 2024-02-26 Contingent — Quincy AOR
• 2024-02-26 Contingent — RMLSA as Distributed by MLS Grid
• 2023-12-18 Price Changed $125,000 Quincy AOR
• 2023-12-18 Price Changed $125,000 RMLSA as Distributed by MLS Grid
• 2023-12-14 Price Changed $125,900 RMLSA as Distributed by MLS Grid
• 2023-12-14 Price Changed $125,900 Quincy AOR
• 2023-09-15 Listed $125,000 MRED as Distributed by MLS Grid
• 2023-09-15 Listed $129,900 RMLSA as Distributed by MLS Grid
• 2023-09-15 Listed $125,000 MRED as Distributed by MLS Grid
• 2023-09-15 Listed $129,900 Quincy AOR

Property tax history

+4.0%/yr

Latest (2023): $1,682 · +55.6% YoY. Source: county tax records.