733 Buchanan · Carthage, IL 62321

$28,900

3 bd · 1.0 ba · 930 sqft · SingleFamily · 87 Days on market

Built 1911 0.30 ac lot ↓ 42% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

3 bed, 1 bath home on a spacious corner lot in Carthage. Wood siding with a functional layout. Needs some TLC but offers potential for investors or buyers.

Key facts

• 0.3 acre lot
• Built 1911
• Listed 86 days

Property features AI

Finance

• HOA & community: No master association fee required

Exterior

• Parking: Alley access
• Utilities: Public water
• Home design: Detached single-family home; One-story layout; Property is over 100 years old; Built before 1978
• Construction: Wood siding; Asphalt roof; Partial basement
• Exterior features: Deck; Fenced yard; Lot dimensions approximately 68 x 190

Interior

• Kitchen: Kitchen on main level (approximately 14 x 16); Range; Refrigerator
• Bedrooms: 3 bedrooms (all on the main level); Bedroom dimensions: 10 x 11; 11 x 12; 12 x 14
• Flooring: Wood laminate flooring in multiple rooms; Vinyl flooring in kitchen and one bedroom; Carpet in living room
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Wall unit cooling
• Interior features: 6 total rooms; Partial basement
• Laundry & utility: Laundry room; Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $29k.

Deal economics

• At list price, monthly cash flow is $498 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($884 rent vs $29k).
• Recommended offer: $27k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 72/100 on livability (#306 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Illini West H S District 307 (town): math 25% / reading 25% proficiency, ranked #611 of 919 in IL (top 66%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Illini West High School (math 17% / reading 27%, grade F, #319 of 693 statewide, top 50%, 342 students, 0% FRL).
• Market conditions: 22 active listings in the ZIP.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $200 of loan paydown is wiped out by about $867 of value loss. Plan a longer hold.
• Hancock County population projected at -30% 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 87 days — a 6% lower offer ($27k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1911 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $27,166 (6.0% below list)

Questions for the listing agent

1. It's been on market 87 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1911 — 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. 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.
6. 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.
7. 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: 3.06% ✓
• Cap rate: 26.99%
• Cash-on-cash: 73.91%
• DSCR: 4.29
• GRM: 2.7

CMA / ARV

• ARV (on-the-fly): $98,580
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
310 N Scofield St	0.19mi	2/1.0 (-1)	966 (+4%)	3mo	$120,000	$124	78
729 Buchanan St	0.01mi	2/1.0 (-1)	896 (-4%)	16mo	$45,000	$50	75
104 Parkway Dr	0.68mi	3/1.0	960 (+3%)	11mo	$120,500	$126	54
319 Davis St	0.42mi	2/1.0 (-1)	1,042 (+12%)	9mo	$110,000	$106	48
345 Kiwanis Rd	0.63mi	2/1.0 (-1)	912 (-2%)	19mo	$85,000	$93	47

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: 73.7%
• Equity multiple: 4.35×
• Total profit: $27,073
• Equity at exit: $4,309

10-year hold

• IRR: 77.5%
• Equity multiple: 8.97×
• Total profit: $64,502
• Equity at exit: $2,499

Cash invested: $8,092 (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 62321

• Home prices YoY: -17.9%
• Active inventory: 22
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $884 medium
• Mortgage (P&I): −$152
• Tax est. 1.5%: −$36 /mo · $434/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$186
• Net cashflow: $498

Break-even live

Break-even rent $253

Max offer price $28,900

Occupancy floor 39%

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: $7,225
• Closing costs: $867
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $28,900 Active 87 DOM
2. 2026-06-18
   days on market $28,900 Active 86 DOM
3. 2026-06-17
   days on market $28,900 Active 85 DOM
4. 2026-06-16
   days on market $28,900 Active 84 DOM
5. 2026-06-15
   days on market $28,900 Active 83 DOM
6. 2026-06-14
   days on market $28,900 Active 81 DOM
7. 2026-06-12
   days on market $28,900 Active 80 DOM
8. 2026-06-09
   days on market $28,900 Active 77 DOM
9. 2026-06-08
   days on market $28,900 Active 76 DOM
10. 2026-06-07
    days on market $28,900 Active 75 DOM
11. 2026-06-07
    days on market $28,900 Active 74 DOM
12. 2026-06-03
    days on market $28,900 Active 71 DOM
13. 2026-06-02
    days on market $28,900 Active 70 DOM
14. 2026-06-01
    days on market $28,900 Active 69 DOM
15. 2026-05-31
    days on market $28,900 Active 68 DOM
16. 2026-05-30
    days on market $28,900 Active 67 DOM
17. 2026-03-23
    listed $28,900 Active
18. 2022-09-27
    historical
19. 2022-04-19
    soldstatus $50,000
20. 2020-03-12
    historical

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,604
• − Mortgage interest: −$1,619
• − Property taxes: −$434
• − Insurance: −$144
• − Repairs & maintenance: −$848
• − Management: −$848
• − Depreciation: −$841
• Taxable income: $5,870
• Est. tax owed @ 24.0%: −$1,409
• After-tax cash flow: $4,572/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: Illini West H S District 307
• NCES district ID: 1701384
• Math proficiency: 25% ▲ 5.00%
• Reading proficiency: 25% ▲ 5.00%
• Median HH income: $47,745
• Composite: 24.88/100
• National rank: #12997
• State rank: #611 of 919 in IL

Livability — Carthage

• Score: 72/100
• State rank: #306
• US rank: #6009

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Carthage, IL
• Population (ZIP): 3,682

Population outlook (Hancock County) Hauer SSP2

• Today (2025): 17,042 people
• By 2030: 16,056 · -5.8%
• By 2040: 13,912 · -18.4%
• By 2050: 11,879 · -30.3%
• By 2075: 8,302 · -51.3%
• By 2100: 5,846 · -65.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 4% Two or more races 4%
• Common ancestry: Lithuanian 2% Portuguese 2% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 4%

Political lean MEDSL · Hancock

• 2024 margin: Solid R (+50.0) · D 24.1% · R 74.1% · Other 1.8%
• 2008→2024 swing: -39.2pp toward R · 2008: -10.8pp · 2024: -50.0pp
• All cycles: 2024: R+50.0 2020: R+48.9 2016: R+50.8 2012: R+19.0 2008: R+10.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -28.17%
• Current HPI: 129.3847
• 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

-42.2% since first listed

4 events — show timeline

• 2026-03-23 Listed $28,900 MRED as Distributed by MLS Grid
• 2022-09-27 Listing Removed — RMLSA as Distributed by MLS Grid
• 2022-04-19 Sold (Public Records) $50,000 Public Records
• 2020-03-12 Listing Removed — MRED as Distributed by MLS Grid

Property tax history

+10.2%/yr

Latest (2024): $1,498 · +8.6% YoY. Source: county tax records.