1610 N 4th St · Quincy, IL 62301

$57,000

2 bd · 1.0 ba · 880 sqft · SingleFamily · 136 Days on market

9,400 sqft lot $65/sqft · 33% below area Est $84k · 33% under

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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 +15.0/15.0
• 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

Investor Alert! Unique opportunity featuring a 24x50 garage—every hobbyist’s, race car driver and mechanics dream space! The property includes a small, efficient home that is currently tenant-occupied, with a long-term renter of 20 years who would love to stay. Ideal for investors seeking immediate rental income or buyers looking for a property with exceptional garage/workshop space. New tpo roof on both the garage and the house in 2025. Instant income possibilities or affordable living with a little sweat equity. More pictures available upon request.

Key facts

• New tpo roof
• 24x50 garage
• Efficient home

Tags

• 24X50 GARAGE
• EFFICIENT HOME
• NEW TPO ROOF

🏷️ Possibly a rental listed for sale. The $57,000 price doesn't fit this home's estimated sale value (~$84,469) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $57k.

Deal economics

• At list price, monthly cash flow is $868 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $57k).
• Recommended offer: $50k (12.0% below list) — sets the bar for market timing.
• Cap rate 24.6% 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; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 68 units permitted in Adams County in 2024 (0 in 5+ unit buildings).
• This rent runs 36% of the median local income ($52k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $394 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 $16k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 136 days — a 12% lower offer ($50k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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 $29k; list at $57k implies a 97% gain — meaningful room to come down on a strong offer.

Recommended offer $50,160 (12.0% below list)

Questions for the listing agent

1. It's been on market 136 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 2.76% ✓
• Cap rate: 24.56%
• Cash-on-cash: 65.25%
• DSCR: 3.90
• GRM: 3.0

CMA / ARV

• ARV (median comp): $84,469
• List price: $57,000
• Delta: -32.52%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1418 N 6th	0.25mi	2/1.0	925 (+5%)	9mo	$157,000	$170	73
204 Locust St	0.19mi	2/1.0	768 (-13%)	6mo	$13,000	$17	65
1220 N 7th St	0.43mi	3/1.0 (+1)	912 (+4%)	16mo	$80,000	$88	56
706 Cedar St	0.49mi	1/1.0 (-1)	880 (0%)	21mo	$18,500	$21	55
917 Cherry St	0.65mi	2/1.0	850 (-3%)	12mo	$102,000	$120	54
304 Chestnut St	0.58mi	2/1.5	984 (+12%)	6mo	$45,000	$46	46
629 Cherry St	0.52mi	2/1.0	1,001 (+14%)	10mo	$48,000	$48	44

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: 69.9%
• Equity multiple: 4.41×
• Total profit: $54,353
• Equity at exit: $8,499

10-year hold

• IRR: 75.5%
• Equity multiple: 10.80×
• Total profit: $156,351
• Equity at exit: $4,928

Cash invested: $15,960 (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: 3.0×

Monthly cashflow live

• Estimated rent: $1,572 medium
• Mortgage (P&I): −$299
• Tax from tax record: −$51 /mo · $614/yr
• Insurance: −$24
• HOA: −$0
• Vacancy / Maint / Mgmt: −$330
• Net cashflow: $868

Break-even live

Break-even rent $473

Max offer price $57,000

Occupancy floor 40%

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: $14,250
• Closing costs: $1,710
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
116 N 3rd St Quincy, IL	1.0–4.0	1.0–2.0	1950	$3,067	$1.57	43d	12	1.28mi
115 N 8th St Unit 1/2-5 Quincy, IL	2.0	1.0	750	$475	$0.63	43d	1	1.33mi
500 Maine St Quincy, IL	1.0	1.0	937	$700	$0.75	43d	1	1.35mi
133 S 4th St Apt 206 Quincy, IL	2.0	1.0	620	$1,450	$2.34	43d	1	1.39mi

Listing history 22 events

1. 2026-06-19
   days on market $57,000 Active 136 DOM
2. 2026-06-18
   days on market $57,000 Active 135 DOM
3. 2026-06-17
   days on market $57,000 Active 134 DOM
4. 2026-06-16
   days on market $57,000 Active 133 DOM
5. 2026-06-15
   days on market $57,000 Active 132 DOM
6. 2026-06-14
   days on market $57,000 Active 130 DOM
7. 2026-06-12
   days on market $57,000 Active 129 DOM
8. 2026-06-09
   days on market $57,000 Active 126 DOM
9. 2026-06-08
   days on market $57,000 Active 125 DOM
10. 2026-06-07
    days on market $57,000 Active 124 DOM
11. 2026-06-03
    days on market $57,000 Active 120 DOM
12. 2026-06-02
    days on market $57,000 Active 119 DOM
13. 2026-06-01
    days on market $57,000 Active 118 DOM
14. 2026-05-31
    days on market $57,000 Active 117 DOM
15. 2026-05-30
    days on market $57,000 Active 116 DOM
16. 2026-02-03
    listed $57,000 Active 569-char remark

    Show marketing remark (569 chars)

    Investor Alert! Unique opportunity featuring a 24x50 garage—every hobbyist’s, race car driver and mechanics dream space! The property includes a small, efficient home that is currently tenant-occupied, with a long-term renter of 20 years who would love to stay. Ideal for investors seeking immediate rental income or buyers looking for a property with exceptional garage/workshop space. New tpo roof on both the garage and the house in 2025. Instant income possibilities or affordable living with a little sweat equity. More pictures available upon request.

17. 2024-12-13
    soldstatus $29,000 Closed 279-char remark

    Show marketing remark (279 chars)

    Home is currently rented - Long Term Tenant. Home appears to need a new roof, but tenant says it is not currently leaking. A little TLC can make this the perfect home. Huge 24x50 Detached Garage. Storage Shed to convey. Selling "AS IS" All measurements are approximate.

18. 2024-12-13
    soldstatus $29,000 Closed

    Show marketing remark (279 chars)

    Home is currently rented - Long Term Tenant. Home appears to need a new roof, but tenant says it is not currently leaking. A little TLC can make this the perfect home. Huge 24x50 Detached Garage. Storage Shed to convey. Selling "AS IS" All measurements are approximate.

19. 2024-11-26
    historical Active Under Contract
20. 2024-11-25
    historical 279-char remark

    Show marketing remark (279 chars)

    Home is currently rented - Long Term Tenant. Home appears to need a new roof, but tenant says it is not currently leaking. A little TLC can make this the perfect home. Huge 24x50 Detached Garage. Storage Shed to convey. Selling "AS IS" All measurements are approximate.

21. 2024-11-18
    listed $45,000 279-char remark

    Show marketing remark (279 chars)

    Home is currently rented - Long Term Tenant. Home appears to need a new roof, but tenant says it is not currently leaking. A little TLC can make this the perfect home. Huge 24x50 Detached Garage. Storage Shed to convey. Selling "AS IS" All measurements are approximate.

22. 2024-11-18
    listed $45,000 Active

    Show marketing remark (279 chars)

    Home is currently rented - Long Term Tenant. Home appears to need a new roof, but tenant says it is not currently leaking. A little TLC can make this the perfect home. Huge 24x50 Detached Garage. Storage Shed to convey. Selling "AS IS" All measurements are approximate.

ⓘ 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: $614 · $51/mo
• Projected year-2 tax: $954 · $79/mo
• Expected delta: +$340/yr (+$28/mo · 55.4%)

ⓘ 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 ≥107°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: $18,860
• − Mortgage interest: −$3,193
• − Property taxes: −$614
• − Insurance: −$285
• − Repairs & maintenance: −$1,509
• − Management: −$1,509
• − Depreciation: −$1,658
• Taxable income: $10,093
• Est. tax owed @ 24.0%: −$2,422
• After-tax cash flow: $7,992/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

+26.7% since first listed

7 events — show timeline

• 2026-02-03 Listed $57,000 RMLSA as Distributed by MLS Grid
• 2024-12-13 Sold (MLS) $29,000 Quincy AOR
• 2024-12-13 Sold (MLS) $29,000 MRED as Distributed by MLS Grid
• 2024-11-26 Contingent — Quincy AOR
• 2024-11-25 Listing Removed — MRED as Distributed by MLS Grid
• 2024-11-18 Listed $45,000 Quincy AOR
• 2024-11-18 Listed $45,000 MRED as Distributed by MLS Grid

Property tax history

+2.0%/yr

Latest (2023): $614 · +5.7% YoY. Source: county tax records.