428 N Main St · Lewistown, IL 61542

$82,000

3 bd · 1.5 ba · 1,874 sqft · Other · 189 Days on market

Built 1924 6,534 sqft lot $44/sqft · 12% below area Est $93k · 12% 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 +12.8/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +4.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0

Listing remarks MLS

Beautifully updated, freshly painted and new flooring throughout this spacious 3 bedroom home. There is a laundry/4th bedroom/multipurpose room on main floor with a half bath. The beautiful open concept living/formal dining area boasts 2 beautiful stain glass windows, curved archways and new light fixtures. In between dining and kitchen is a small room for a coffee bar or extra kitchen space. The kitchen has a pantry and mudroom attached. This Gem just had a whole new, beautiful roof put on that was a complete tear off and new decking. Peep the cubby under stairs, perfect for a small pet bed! The upstairs has 3 sizable bedrooms with Primary bedroom boasting a large walk-in closet, and another bedroom has unique built in drawers across the wall for ample storage. Seller has never lived in home and has never used studio apartment in basement. Seller has tastefully finished this home with loving touches in hope of enticing a buyer to fall for this Beauty!

Key facts

• Pantry
• Open concept living
• Curved archways

Tags

• OPEN CONCEPT LIVING
• STAIN GLASS WINDOWS
• CURVED ARCHWAYS
• NEW LIGHT FIXTURES
• COFFEE BAR
• PANTRY

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath other listed at $82k.

Deal economics

• At list price, monthly cash flow is $365 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $82k).
• Recommended offer: $72k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#756 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: schools F, amenities F, commute F.
• Lewistown CUSD 97 (rural): math 11% / reading 14% proficiency, ranked #546 of 620 in IL (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 22 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 (-2.0%/yr); year-one equity from $567 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 (-2.0% appreciation + 3.0% rent growth), your $23k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 189 days — a 12% lower offer ($72k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 18y ago; this cycle's ask has dropped $13k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $36k; list at $82k implies a 128% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $72,160 (12.0% below list)

Questions for the listing agent

1. It's been on market 189 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 1924 — 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 F-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. 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: 1.50% ✓
• Cap rate: 11.63%
• Cash-on-cash: 19.07%
• DSCR: 1.85
• GRM: 5.6

CMA / ARV

• ARV (median comp): $92,909
• List price: $82,000
• Delta: -11.74%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-1.97% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 13.9%
• Equity multiple: 1.59×
• Total profit: $13,579
• Equity at exit: $16,038

10-year hold

• IRR: 21.1%
• Equity multiple: 2.97×
• Total profit: $45,121
• Equity at exit: $13,814

Cash invested: $22,960 (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 61542

• Home prices YoY: -1.3%
• Active inventory: 22
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,226 medium
• Mortgage (P&I): −$430
• Tax from tax record: −$140 /mo · $1,677/yr
• Insurance: −$34
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $365

Break-even live

Break-even rent $764

Max offer price $82,000

Occupancy floor 65%

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: $20,500
• Closing costs: $2,460
• Reserves months: —
• Total cash needed: —

Listing history 35 events

1. 2026-06-18
   days on market $82,000 Active 189 DOM
2. 2026-06-17
   days on market $82,000 Active 188 DOM
3. 2026-06-16
   days on market $82,000 Active 187 DOM
4. 2026-06-15
   days on market $82,000 Active 186 DOM
5. 2026-06-13
   days on market $82,000 Active 184 DOM
6. 2026-06-12
   days on market $82,000 Active 183 DOM
7. 2026-06-09
   days on market $82,000 Active 180 DOM
8. 2026-06-08
   days on market $82,000 Active 179 DOM
9. 2026-06-07
   days on market $82,000 Active 178 DOM
10. 2026-06-07
    days on market $82,000 Active 177 DOM
11. 2026-06-04
    days on market $82,000 Active 174 DOM
12. 2026-06-02
    days on market $82,000 Active 173 DOM
13. 2026-06-01
    days on market $82,000 Active 172 DOM
14. 2026-05-31
    days on market $82,000 Active 171 DOM
15. 2026-05-31
    days on market $82,000 Active 170 DOM
16. 2026-04-27
    status Active 966-char remark

    Show marketing remark (966 chars)

    Beautifully updated, freshly painted and new flooring throughout this spacious 3 bedroom home. There is a laundry/4th bedroom/multipurpose room on main floor with a half bath. The beautiful open concept living/formal dining area boasts 2 beautiful stain glass windows, curved archways and new light fixtures. In between dining and kitchen is a small room for a coffee bar or extra kitchen space. The kitchen has a pantry and mudroom attached. This Gem just had a whole new, beautiful roof put on that was a complete tear off and new decking. Peep the cubby under stairs, perfect for a small pet bed! The upstairs has 3 sizable bedrooms with Primary bedroom boasting a large walk-in closet, and another bedroom has unique built in drawers across the wall for ample storage. Seller has never lived in home and has never used studio apartment in basement. Seller has tastefully finished this home with loving touches in hope of enticing a buyer to fall for this Beauty!

17. 2026-04-27
    price $86,000 966-char remark

    Show marketing remark (966 chars)

    Beautifully updated, freshly painted and new flooring throughout this spacious 3 bedroom home. There is a laundry/4th bedroom/multipurpose room on main floor with a half bath. The beautiful open concept living/formal dining area boasts 2 beautiful stain glass windows, curved archways and new light fixtures. In between dining and kitchen is a small room for a coffee bar or extra kitchen space. The kitchen has a pantry and mudroom attached. This Gem just had a whole new, beautiful roof put on that was a complete tear off and new decking. Peep the cubby under stairs, perfect for a small pet bed! The upstairs has 3 sizable bedrooms with Primary bedroom boasting a large walk-in closet, and another bedroom has unique built in drawers across the wall for ample storage. Seller has never lived in home and has never used studio apartment in basement. Seller has tastefully finished this home with loving touches in hope of enticing a buyer to fall for this Beauty!

18. 2026-04-11
    status Pending 966-char remark

    Show marketing remark (966 chars)

    Beautifully updated, freshly painted and new flooring throughout this spacious 3 bedroom home. There is a laundry/4th bedroom/multipurpose room on main floor with a half bath. The beautiful open concept living/formal dining area boasts 2 beautiful stain glass windows, curved archways and new light fixtures. In between dining and kitchen is a small room for a coffee bar or extra kitchen space. The kitchen has a pantry and mudroom attached. This Gem just had a whole new, beautiful roof put on that was a complete tear off and new decking. Peep the cubby under stairs, perfect for a small pet bed! The upstairs has 3 sizable bedrooms with Primary bedroom boasting a large walk-in closet, and another bedroom has unique built in drawers across the wall for ample storage. Seller has never lived in home and has never used studio apartment in basement. Seller has tastefully finished this home with loving touches in hope of enticing a buyer to fall for this Beauty!

19. 2026-02-16
    price $92,000 966-char remark

    Show marketing remark (966 chars)

    Beautifully updated, freshly painted and new flooring throughout this spacious 3 bedroom home. There is a laundry/4th bedroom/multipurpose room on main floor with a half bath. The beautiful open concept living/formal dining area boasts 2 beautiful stain glass windows, curved archways and new light fixtures. In between dining and kitchen is a small room for a coffee bar or extra kitchen space. The kitchen has a pantry and mudroom attached. This Gem just had a whole new, beautiful roof put on that was a complete tear off and new decking. Peep the cubby under stairs, perfect for a small pet bed! The upstairs has 3 sizable bedrooms with Primary bedroom boasting a large walk-in closet, and another bedroom has unique built in drawers across the wall for ample storage. Seller has never lived in home and has never used studio apartment in basement. Seller has tastefully finished this home with loving touches in hope of enticing a buyer to fall for this Beauty!

20. 2025-12-17
    historical
21. 2025-11-22
    listed $95,000 Active 966-char remark

    Show marketing remark (966 chars)

    Beautifully updated, freshly painted and new flooring throughout this spacious 3 bedroom home. There is a laundry/4th bedroom/multipurpose room on main floor with a half bath. The beautiful open concept living/formal dining area boasts 2 beautiful stain glass windows, curved archways and new light fixtures. In between dining and kitchen is a small room for a coffee bar or extra kitchen space. The kitchen has a pantry and mudroom attached. This Gem just had a whole new, beautiful roof put on that was a complete tear off and new decking. Peep the cubby under stairs, perfect for a small pet bed! The upstairs has 3 sizable bedrooms with Primary bedroom boasting a large walk-in closet, and another bedroom has unique built in drawers across the wall for ample storage. Seller has never lived in home and has never used studio apartment in basement. Seller has tastefully finished this home with loving touches in hope of enticing a buyer to fall for this Beauty!

22. 2025-10-08
    historical
23. 2025-09-20
    price
24. 2025-09-04
    listed Active
25. 2023-01-30
    soldstatus $36,000 Closed
26. 2023-01-11
    historical Under Contract
27. 2022-12-05
    price $39,900
28. 2022-11-15
    listed $44,900 Active
29. 2022-07-07
    historical
30. 2022-02-08
    listed Active
31. 2015-10-08
    soldstatus $14,000
32. 2015-07-07
    listed $16,500
33. 2008-04-18
    soldstatus $55,000
34. 2008-04-18
    soldstatus $55,000
35. 2008-01-12
    listed $58,000

ⓘ 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: $1,677 · $140/mo
• Projected year-2 tax: $1,769 · $147/mo
• Expected delta: +$92/yr (+$8/mo · 5.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥106°F today · 19 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: $14,717
• − Mortgage interest: −$4,593
• − Property taxes: −$1,677
• − Insurance: −$410
• − Repairs & maintenance: −$1,177
• − Management: −$1,177
• − Depreciation: −$2,385
• Taxable income: $3,296
• Est. tax owed @ 24.0%: −$791
• After-tax cash flow: $3,588/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: Lewistown CUSD 97
• NCES district ID: 1700153
• Math proficiency: 11% ▼ -5.00%
• Reading proficiency: 14% ▼ -8.00%
• Median HH income: $45,704
• Composite: 11.28/100
• National rank: #9719
• State rank: #546 of 620 in IL

Livability — Lewistown

• Score: 63/100
• State rank: #756
• US rank: #15307

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lewistown, IL
• Population (ZIP): 3,306

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 (96%)
• Race & ethnicity: White 96% Asian 2% Two or more races 2%
• Common ancestry: Lithuanian 3% Portuguese 2% Iranian 2%
• Foreign-born: 2% · China
• Languages at home: 98% English-only · Chinese 1%

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: ▼ -1.97%
• Current HPI: 146.1702
• 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

+48.3% since first listed

20 events — show timeline

• 2026-04-27 Relisted — RMLSA as Distributed by MLS Grid
• 2026-04-27 Price Changed $86,000 RMLSA as Distributed by MLS Grid
• 2026-04-11 Pending — RMLSA as Distributed by MLS Grid
• 2026-02-16 Price Changed $92,000 RMLSA as Distributed by MLS Grid
• 2025-12-17 Listing Removed — MRED as Distributed by MLS Grid
• 2025-11-22 Listed $95,000 RMLSA as Distributed by MLS Grid
• 2025-10-08 Listing Removed — RMLSA as Distributed by MLS Grid
• 2025-09-20 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-09-04 Listed — RMLSA as Distributed by MLS Grid
• 2023-01-30 Sold (MLS) $36,000 RMLSA as Distributed by MLS Grid
• 2023-01-11 Contingent — RMLSA as Distributed by MLS Grid
• 2022-12-05 Price Changed $39,900 RMLSA as Distributed by MLS Grid
• 2022-11-15 Listed $44,900 RMLSA as Distributed by MLS Grid
• 2022-07-07 Listing Removed — RMLSA as Distributed by MLS Grid
• 2022-02-08 Listed — RMLSA as Distributed by MLS Grid
• 2015-10-08 Sold (MLS) $14,000 RMLSA as Distributed by MLS Grid
• 2015-07-07 Listed $16,500 RMLSA as Distributed by MLS Grid
• 2008-04-18 Sold (Public Records) $55,000 Public Records
• 2008-04-18 Sold (MLS) $55,000 RMLSA as Distributed by MLS Grid
• 2008-01-12 Listed $58,000 RMLSA as Distributed by MLS Grid

Property tax history

+8.1%/yr

Latest (2024): $1,677 · -27.5% YoY. Source: county tax records.