308 E Benton St · Mount Olive, IL 62069

$50,000

2 bd · 1.0 ba · 750 sqft · SingleFamily · 225 Days on market

Built 1940 7,000 sqft lot $67/sqft · 21% below area Est $63k · 21% under

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Why this score? — see what drove the A- 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
• Appreciation +10.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0

Listing remarks MLS

CUTE AS CAN BE and you can't beat the price! Move in ready 2 bedroom, 1 bathroom home with a great backyard. Nice sized living room, adorable kitchen, separate dining space and main level laundry. Roof replaced in 2025, HVAC is less than 10 years old . Spacious backyard is great for kids and furry friends! Convenient ramp to the front door. Call your favorite agent for a showing today!

Key facts

• Main level laundry
• Adorable kitchen
• Great backyard

Tags

• GREAT BACKYARD
• ADORABLE KITCHEN
• SEPARATE DINING SPACE
• MAIN LEVEL LAUNDRY
• ROOF REPLACED

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $226 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($819 rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#937 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: employment D+, schools F, amenities F.
• Mount Olive CUSD 5 (rural): math 16% / reading 17% proficiency, ranked #483 of 620 in IL (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 20 active listings in the ZIP; 70 units permitted in Macoupin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($346 loan paydown + $5k appreciation (10.0% local appreciation)).
• Macoupin County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 225 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts 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 $19k; list at $50k implies a 163% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $44,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 225 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 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.64% ✓
• Cap rate: 11.71%
• Cash-on-cash: 19.34%
• DSCR: 1.86
• GRM: 5.1

CMA / ARV

• ARV (median comp): $63,422
• List price: $50,000
• Delta: -21.16%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 38.7%
• Equity multiple: 3.98×
• Total profit: $41,659
• Equity at exit: $45,044

10-year hold

• IRR: 33.4%
• Equity multiple: 8.96×
• Total profit: $111,498
• Equity at exit: $97,139

Cash invested: $14,000 (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 62069

• Home prices YoY: 12.0%
• Active inventory: 20
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $819 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$138 /mo · $1,660/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$172
• Net cashflow: $226

Break-even live

Break-even rent $533

Max offer price $50,000

Occupancy floor 67%

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-18
   days on market $50,000 Active 225 DOM
2. 2026-06-17
   days on market $50,000 Active 224 DOM
3. 2026-06-16
   days on market $50,000 Active 223 DOM
4. 2026-06-16
   status $50,000 Active 222 DOM
5. 2026-06-15
   days on market $50,000 Active Under Contract 222 DOM
6. 2026-06-13
   days on market $50,000 Active Under Contract 220 DOM
7. 2026-06-12
   days on market $50,000 Active Under Contract 219 DOM
8. 2026-06-09
   days on market $50,000 Active Under Contract 216 DOM
9. 2026-06-08
   days on market $50,000 Active Under Contract 215 DOM
10. 2026-06-07
    days on market $50,000 Active Under Contract 214 DOM
11. 2026-06-04
    days on market $50,000 Active Under Contract 210 DOM
12. 2026-06-02
    days on market $50,000 Active Under Contract 209 DOM
13. 2026-06-01
    days on market $50,000 Active Under Contract 208 DOM
14. 2026-05-31
    days on market $50,000 Active Under Contract 207 DOM
15. 2026-05-31
    days on market $50,000 Active Under Contract 206 DOM
16. 2026-05-08
    historical Active Under Contract 388-char remark

    Show marketing remark (388 chars)

    CUTE AS CAN BE and you can't beat the price! Move in ready 2 bedroom, 1 bathroom home with a great backyard. Nice sized living room, adorable kitchen, separate dining space and main level laundry. Roof replaced in 2025, HVAC is less than 10 years old . Spacious backyard is great for kids and furry friends! Convenient ramp to the front door. Call your favorite agent for a showing today!

17. 2026-05-01
    status Active 388-char remark

    Show marketing remark (388 chars)

    CUTE AS CAN BE and you can't beat the price! Move in ready 2 bedroom, 1 bathroom home with a great backyard. Nice sized living room, adorable kitchen, separate dining space and main level laundry. Roof replaced in 2025, HVAC is less than 10 years old . Spacious backyard is great for kids and furry friends! Convenient ramp to the front door. Call your favorite agent for a showing today!

18. 2026-04-30
    status Active 388-char remark

    Show marketing remark (388 chars)

    CUTE AS CAN BE and you can't beat the price! Move in ready 2 bedroom, 1 bathroom home with a great backyard. Nice sized living room, adorable kitchen, separate dining space and main level laundry. Roof replaced in 2025, HVAC is less than 10 years old . Spacious backyard is great for kids and furry friends! Convenient ramp to the front door. Call your favorite agent for a showing today!

19. 2026-02-05
    historical Active Under Contract 388-char remark

    Show marketing remark (388 chars)

    CUTE AS CAN BE and you can't beat the price! Move in ready 2 bedroom, 1 bathroom home with a great backyard. Nice sized living room, adorable kitchen, separate dining space and main level laundry. Roof replaced in 2025, HVAC is less than 10 years old . Spacious backyard is great for kids and furry friends! Convenient ramp to the front door. Call your favorite agent for a showing today!

20. 2026-02-05
    status Active 388-char remark

    Show marketing remark (388 chars)

    CUTE AS CAN BE and you can't beat the price! Move in ready 2 bedroom, 1 bathroom home with a great backyard. Nice sized living room, adorable kitchen, separate dining space and main level laundry. Roof replaced in 2025, HVAC is less than 10 years old . Spacious backyard is great for kids and furry friends! Convenient ramp to the front door. Call your favorite agent for a showing today!

21. 2026-02-02
    historical Active Under Contract 388-char remark

    Show marketing remark (388 chars)

    CUTE AS CAN BE and you can't beat the price! Move in ready 2 bedroom, 1 bathroom home with a great backyard. Nice sized living room, adorable kitchen, separate dining space and main level laundry. Roof replaced in 2025, HVAC is less than 10 years old . Spacious backyard is great for kids and furry friends! Convenient ramp to the front door. Call your favorite agent for a showing today!

22. 2025-12-15
    status Active 388-char remark

    Show marketing remark (388 chars)

    CUTE AS CAN BE and you can't beat the price! Move in ready 2 bedroom, 1 bathroom home with a great backyard. Nice sized living room, adorable kitchen, separate dining space and main level laundry. Roof replaced in 2025, HVAC is less than 10 years old . Spacious backyard is great for kids and furry friends! Convenient ramp to the front door. Call your favorite agent for a showing today!

23. 2025-10-20
    historical Active Under Contract 388-char remark

    Show marketing remark (388 chars)

    CUTE AS CAN BE and you can't beat the price! Move in ready 2 bedroom, 1 bathroom home with a great backyard. Nice sized living room, adorable kitchen, separate dining space and main level laundry. Roof replaced in 2025, HVAC is less than 10 years old . Spacious backyard is great for kids and furry friends! Convenient ramp to the front door. Call your favorite agent for a showing today!

24. 2025-10-15
    listed $50,000 Active 388-char remark

    Show marketing remark (388 chars)

    CUTE AS CAN BE and you can't beat the price! Move in ready 2 bedroom, 1 bathroom home with a great backyard. Nice sized living room, adorable kitchen, separate dining space and main level laundry. Roof replaced in 2025, HVAC is less than 10 years old . Spacious backyard is great for kids and furry friends! Convenient ramp to the front door. Call your favorite agent for a showing today!

25. 2007-09-28
    soldstatus $19,000

ⓘ 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: $1,660 · $138/mo
• Projected year-2 tax: $1,660 · $138/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,827
• − Mortgage interest: −$2,801
• − Property taxes: −$1,660
• − Insurance: −$250
• − Repairs & maintenance: −$786
• − Management: −$786
• − Depreciation: −$1,455
• Taxable income: $2,090
• Est. tax owed @ 24.0%: −$502
• After-tax cash flow: $2,206/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: Mount Olive CUSD 5
• NCES district ID: 1727180
• Math proficiency: 16% ▼ -21.00%
• Reading proficiency: 17% ▼ -18.00%
• Median HH income: $46,749
• Composite: 14.7/100
• National rank: #9402
• State rank: #483 of 620 in IL

Livability — Mount Olive

• Score: 61/100
• State rank: #937
• US rank: #18221

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: Mount Olive, IL
• Population (ZIP): 3,102

Population outlook (Macoupin County) Hauer SSP2

• Today (2025): 42,867 people
• By 2030: 40,796 · -4.8%
• By 2040: 36,135 · -15.7%
• By 2050: 31,469 · -26.6%
• By 2075: 22,102 · -48.4%
• By 2100: 15,380 · -64.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 3%
• Common ancestry: Lithuanian 2% Iranian 2% Romanian 2%
• Foreign-born: 1%

Political lean MEDSL · Macoupin

• 2024 margin: Solid R (+39.2) · D 29.4% · R 68.7% · Other 1.9%
• 2008→2024 swing: -49.0pp toward R · 2008: 9.8pp · 2024: -39.2pp
• All cycles: 2024: R+39.2 2020: R+36.5 2016: R+35.0 2012: R+7.0 2008: D+9.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 21.34%
• Current HPI: 199.5
• 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

+163.2% since first listed

10 events — show timeline

• 2026-05-08 Contingent — MARIS as Distributed by MLS Grid
• 2026-05-01 Relisted — MARIS as Distributed by MLS Grid
• 2026-04-30 Relisted — MARIS as Distributed by MLS Grid
• 2026-02-05 Contingent — MARIS as Distributed by MLS Grid
• 2026-02-05 Relisted — MARIS as Distributed by MLS Grid
• 2026-02-02 Contingent — MARIS as Distributed by MLS Grid
• 2025-12-15 Relisted — MARIS as Distributed by MLS Grid
• 2025-10-20 Contingent — MARIS as Distributed by MLS Grid
• 2025-10-15 Listed $50,000 MARIS as Distributed by MLS Grid
• 2007-09-28 Sold (Public Records) $19,000 Public Records

Property tax history

+1.8%/yr

Latest (2024): $1,660 · +4.9% YoY. Source: county tax records.