1620 Locust St · Quincy, IL 62301

$69,500

1 bd · 1.0 ba · 990 sqft · SingleFamily · 22 Days on market

Built 1940 6,510 sqft lot Est $131k · 47% under

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Why this score? — see what drove the C+ 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 +21.8/30.0
• ARV discount +15.0/15.0
• DSCR +7.0/10.0
• 1% rule +6.3/10.0
• 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

Welcome to 1620 Locust. Spacious one level living with main floor laundry and heated enclosed back porch. Alley access and off-street parking. Great Investment opportunity or put your own personal touch on it and live in it yourself. Selling As-Is

Key facts

• Alley access
• Main floor laundry
• Off-street parking

Tags

• MAIN FLOOR LAUNDRY
• HEATED ENCLOSED BACK PORCH
• ALLEY ACCESS
• OFF-STREET PARKING

Property features AI

Exterior

• Parking: No garage (alley access)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Built in 1940; 990 total building area
• Construction: Shingle roof; Has crawl space and partial basement
• Exterior features: Level lot; Paved road access; Alley access

Interior

• Kitchen: Refrigerator
• Bedrooms: 1 bedroom (main level; bedroom approx. 15' x 12', carpet, egress window)
• Flooring: Carpet in bedroom and family room; Vinyl in kitchen and bathroom
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air
• Interior features: Ceiling fans; High-speed internet

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $108 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($787 rent vs $70k).
• Recommended offer: $68k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.2% 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: crime D, employment D, amenities 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.
• Zoned schools: Quincy Sr High School (math 21% / reading 28%, grade F, #256 of 693 statewide, top 44%, 1,924 students, 0% FRL) — zoned schools average 0% FRL vs 48% district-wide (48 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+10.8%/yr); 180 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 68 units permitted in Adams County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $481 of loan paydown is wiped out by about $2k 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 $19k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($68k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $68,457 (1.5% below list)

Questions for the listing agent

1. Built in 1940 — 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. 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. 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?
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: 1.13% ✓
• Cap rate: 8.16%
• Cash-on-cash: 6.65%
• DSCR: 1.30
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $130,680
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1815 N 18th St	0.26mi	1/1.0	972 (-2%)	4mo	$86,500	$89	82
1424 N 20th St	0.31mi	2/1.0 (+1)	975 (-2%)	6mo	$129,000	$132	74
1633 Spruce St	0.22mi	2/1.0 (+1)	902 (-9%)	3mo	$137,000	$152	68
1620 Chestnut St	0.51mi	2/1.0 (+1)	1,000 (+1%)	3mo	$137,000	$137	67
1821 Maple St	0.20mi	2/2.0 (+1)	932 (-6%)	8mo	$145,000	$156	66
1821 Maple St	0.20mi	2/2.0 (+1)	932 (-6%)	8mo	$145,000	$156	66
2016 Sycamore St	0.36mi	2/1.0 (+1)	958 (-3%)	11mo	$150,000	$157	64
1700 Sycamore	0.17mi	2/1.0 (+1)	864 (-13%)	11mo	$110,000	$127	57
903 N 12th St	0.68mi	2/1.0 (+1)	952 (-4%)	1mo	$65,000	$68	56
1407 Cherry St	0.44mi	2/1.0 (+1)	858 (-13%)	9mo	$110,000	$128	45
1029 N 11th St	0.64mi	1/1.0	847 (-14%)	3mo	$60,000	$71	44
1212 Lind St	0.68mi	2/1.0 (+1)	1,098 (+11%)	3mo	$89,500	$82	42

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: -0.3%
• Equity multiple: 0.99×
• Total profit: $-199
• Equity at exit: $10,363

10-year hold

• IRR: 14.2%
• Equity multiple: 2.43×
• Total profit: $27,740
• Equity at exit: $6,009

Cash invested: $19,460 (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: 7.4×

Monthly cashflow live

• Estimated rent: $787 medium
• Mortgage (P&I): −$364
• Tax from tax record: −$121 /mo · $1,446/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$165
• Net cashflow: $108

Break-even live

Break-even rent $651

Max offer price $69,500

Occupancy floor 81%

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: $17,375
• Closing costs: $2,085
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
115 N 8th St Unit 1/2-5 Quincy, IL	2.0	1.0	750	$475	$0.63	43d	1	1.41mi

Listing history 15 events

1. 2026-06-18
   days on market $69,500 Under Contract 22 DOM
2. 2026-06-17
   days on market $69,500 Under Contract 21 DOM
3. 2026-06-16
   days on market $69,500 Under Contract 20 DOM
4. 2026-06-15
   days on market $69,500 Under Contract 19 DOM
5. 2026-06-14
   days on market $69,500 Under Contract 17 DOM
6. 2026-06-12
   days on market $69,500 Under Contract 16 DOM
7. 2026-06-09
   days on market $69,500 Under Contract 13 DOM
8. 2026-06-08
   days on market $69,500 Under Contract 12 DOM
9. 2026-06-07
   days on market $69,500 Under Contract 11 DOM
10. 2026-06-03
    days on market $69,500 Under Contract 7 DOM
11. 2026-06-02
    days on market $69,500 Under Contract 6 DOM
12. 2026-06-01
    days on market $69,500 Under Contract 5 DOM
13. 2026-05-31
    days on market $69,500 Under Contract 4 DOM
14. 2026-05-30
    statusdays on market $69,500 Under Contract 3 DOM
15. 2026-05-25
    listed $69,500 Active

ⓘ 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: $1,446 · $121/mo
• Projected year-2 tax: $1,512 · $126/mo
• Expected delta: +$66/yr (+$5/mo · 4.5%)

ⓘ 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: $9,445
• − Mortgage interest: −$3,893
• − Property taxes: −$1,446
• − Insurance: −$348
• − Repairs & maintenance: −$756
• − Management: −$756
• − Depreciation: −$2,022
• Taxable income: $226
• Est. tax owed @ 24.0%: −$54
• After-tax cash flow: $1,240/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

1 event — show timeline

• 2026-05-25 Listed $69,500 RMLSA as Distributed by MLS Grid

Property tax history

+2.0%/yr

Latest (2023): $1,446 · +5.7% YoY. Source: county tax records.