1422 N 12th St · Quincy, IL 62301

$145,000

2 bd · 2.0 ba · 1,973 sqft · SingleFamily · 16 Days on market

Built 1920 6,320 sqft lot Est $136k · 7% over

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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 +28.6/30.0
• DSCR +10.0/10.0
• 1% rule +7.0/10.0
• Rent growth +5.0/5.0
• ARV discount +4.6/15.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Traditional Bungalow with 2 beds 1 bath on the main floor. Beautiful hardwood floors throughout. Well maintained home. Finished basement with full kitchen, bar, and extra bath. Eat in kitchen with stove, dishwasher, and refrigerator conveying . Two car detached garage with drive through door to alley. Selling AS IS with inspections welcome but no repairs. This property sells at Auction Thursday April 30th at 6:00 p. m. Auction buyers must bring a letter of qualification from their financial institution to bid at the auction. The home is selling with no contingency for appraisal, inspections, or financing. The title has been searched. Closing within 30 days or less. The successful buyer wil

Key facts

• 6,320 sq ft lot
• 2 garage spots
• Built 1920

Property features AI

Exterior

• Parking: Detached garage with alley access; 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single family residence; Built in 1920
• Construction: Original construction (not new)
• Exterior features: Shingle roof; Sloped lot

Interior

• Kitchen: Dishwasher; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Hardwood flooring in primary living areas; Laminate flooring in kitchen
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Finished full basement; Finished basement; Dishwasher; Refrigerator; No fireplaces

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $477 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $143k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.2% 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; 2 comparable units currently listed for rent nearby; 68 units permitted in Adams County in 2024 (0 in 5+ unit buildings).
• This rent runs 40% 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 $1k of loan paydown is wiped out by about $4k 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 $41k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($143k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $142,825 (1.5% below list)

Questions for the listing agent

1. Built in 1920 — 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: 1.20% ✓
• Cap rate: 10.24%
• Cash-on-cash: 14.11%
• DSCR: 1.63
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $136,137
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1026 N 15th St	0.42mi	2/2.0	1,992 (+1%)	7mo	$162,000	$81	73
1513 Spruce St	0.30mi	3/2.0 (+1)	1,850 (-6%)	1mo	$62,000	$34	70
1319 N 12th St	0.09mi	2/1.0	1,766 (-10%)	9mo	$115,000	$65	67
1330 N 6th St	0.54mi	3/2.0 (+1)	1,908 (-3%)	0mo	$132,000	$69	64
1421 N 7th St	0.47mi	3/2.0 (+1)	1,795 (-9%)	7mo	$124,600	$69	52
832 N 11th St	0.50mi	2/1.5	1,780 (-10%)	8mo	$85,000	$48	52
1415 N 10th St	0.22mi	3/1.5 (+1)	1,696 (-14%)	10mo	$142,000	$84	51
1728 Chestnut St	0.63mi	2/1.0	1,817 (-8%)	7mo	$195,000	$107	47
1524 N 6th St	0.54mi	3/2.0 (+1)	1,680 (-15%)	4mo	$25,000	$15	42
1222 Chestnut St	0.42mi	3/1.0 (+1)	1,696 (-14%)	10mo	$130,000	$77	40
1030 N 8th St	0.48mi	3/1.0 (+1)	1,695 (-14%)	8mo	$125,000	$74	39
710 N 12th St	0.63mi	3/1.5 (+1)	2,203 (+12%)	10mo	$49,000	$22	36

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: 9.5%
• Equity multiple: 1.40×
• Total profit: $16,051
• Equity at exit: $21,620

10-year hold

• IRR: 22.3%
• Equity multiple: 3.33×
• Total profit: $94,752
• Equity at exit: $12,537

Cash invested: $40,600 (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: 7.0×

Monthly cashflow live

• Estimated rent: $1,737 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$74 /mo · $888/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$365
• Net cashflow: $477

Break-even live

Break-even rent $1,133

Max offer price $145,000

Occupancy floor 68%

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
201 S 8th St Quincy, IL	2.0	2.5	1785	$1,800	$1.01	43d	1	1.33mi
116 N 3rd St Quincy, IL	1.0–4.0	1.0–2.0	1950	$3,067	$1.57	43d	12	1.40mi

Listing history 2 events

1. 2026-04-30
   status Pending
2. 2026-04-10
   listed $145,000 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: $888 · $74/mo
• Projected year-2 tax: $2,090 · $174/mo
• Expected delta: +$1,202/yr (+$100/mo · 135.2%)

ⓘ 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 ≥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: $20,845
• − Mortgage interest: −$8,122
• − Property taxes: −$888
• − Insurance: −$725
• − Repairs & maintenance: −$1,668
• − Management: −$1,668
• − Depreciation: −$4,218
• Taxable income: $3,556
• Est. tax owed @ 24.0%: −$853
• After-tax cash flow: $4,876/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

2 events — show timeline

• 2026-04-30 Pending — RMLSA as Distributed by MLS Grid
• 2026-04-10 Listed $145,000 RMLSA as Distributed by MLS Grid

Property tax history

-0.6%/yr

Latest (2023): $888 · -1.3% YoY. Source: county tax records.