223 W High St · Mendon, IL 62351

$125,000

4 bd · 2.0 ba · 2,582 sqft · SingleFamily · 72 Days on market

0.59 ac lot

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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 +22.5/30.0
• Appreciation +8.0/10.0
• ARV discount +7.5/15.0
• DSCR +7.2/10.0
• 1% rule +5.9/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0

Listing remarks

Spacious 2-story home offering over 2,500 sq ft of finished living space, full of character and opportunity. Priced at approximately $50 per square foot, this property presents an incredible value for the size and potential it offers. Step inside and you’ll immediately notice the beautiful original woodwork and a stunning open staircase that creates a grand focal point upon entry. This home features 4 bedrooms, with the potential for a 5th bedroom, along with 2 full bathrooms, providing plenty of space for a growing household or flexible living arrangements. Situated on a large lot, there is ample room for outdoor enjoyment, additional parking, or future improvements. The home does ne

Key facts

• Open staircase
• Large lot
• Outdoor enjoyment

Tags

• ORIGINAL WOODWORK
• OPEN STAIRCASE
• LARGE LOT
• OUTDOOR ENJOYMENT
• SOLID STRUCTURE
• GENEROUS SQUARE FOOTAGE

Property features AI

Exterior

• Parking: Detached parking
• Utilities: Public water; Public sewer
• Home design: Single family residence; Two levels
• Construction: Shingle roof; Building area approximately 2,582 (total living area); Not new construction
• Exterior features: Level lot

Interior

• Kitchen: Kitchen on main level (15 x 17) with vinyl flooring
• Bedrooms: 4 bedrooms; Bedroom 1 on main level (9 x 12) with hardwood flooring and egress window; Bedroom 2 on upper level (15 x 15) with carpet and egress window; Bedroom 3 on upper level (11 x 15) with carpet and egress window; Bedroom 4 on upper level (13 x 11) with carpet and egress window
• Flooring: Hardwood in at least one main-level bedroom; Carpet in multiple main and upper-level rooms (living, dining, several bedrooms); Vinyl in kitchen and laundry
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Electric water heater
• Interior features: Partial basement; No fireplaces
• Laundry & utility: Main level laundry room (8 x 11) with vinyl flooring

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $211 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $118k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#636 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• CUSD 4 (rural): math 16% / reading 23% proficiency, ranked #429 of 620 in IL (top 69%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Unity High School (math 15% / reading 24%, grade F, #379 of 693 statewide, top 57%, 182 students, 0% FRL) — zoned schools average 0% FRL vs 28% district-wide (28 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 8 active listings in the ZIP; 68 units permitted in Adams County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($864 loan paydown + $7k appreciation (5.9% local appreciation)).
• Adams County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.9% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 72 days — a 6% lower offer ($118k) is reasonable based on typical stale-listing flexibility.

Recommended offer $117,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 6% 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. 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: 1.09% ✓
• Cap rate: 8.32%
• Cash-on-cash: 7.22%
• DSCR: 1.32
• GRM: 7.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.93% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.2%
• Equity multiple: 2.40×
• Total profit: $49,007
• Equity at exit: $78,024

10-year hold

• IRR: 20.3%
• Equity multiple: 4.82×
• Total profit: $133,822
• Equity at exit: $141,016

Cash invested: $35,000 (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 62351

• Home prices YoY: 3.7%
• Active inventory: 8
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,360 medium
• Mortgage (P&I): −$656
• Tax est. 1.5%: −$156 /mo · $1,875/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$286
• Net cashflow: $211

Break-even live

Break-even rent $1,093

Max offer price $125,000

Occupancy floor 80%

Sensitivity live

Price	-10% $297	-5% $254	+0% $211	+5% $167	+10% $124
Rent	-10% $103	-5% $157	+0% $211	+5% $264	+10% $318
Rate	-1.0pp $274	-0.5pp $242	base $211	+0.5pp $178	+1.0pp $145

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $125,000 Under Contract 72 DOM
2. 2026-06-18
   days on market $125,000 Under Contract 70 DOM
3. 2026-06-17
   days on market $125,000 Under Contract 69 DOM
4. 2026-06-16
   days on market $125,000 Under Contract 68 DOM
5. 2026-06-15
   days on market $125,000 Under Contract 67 DOM
6. 2026-06-13
   days on market $125,000 Under Contract 65 DOM
7. 2026-06-12
   days on market $125,000 Under Contract 64 DOM
8. 2026-06-09
   days on market $125,000 Under Contract 61 DOM
9. 2026-06-08
   days on market $125,000 Under Contract 60 DOM
10. 2026-06-07
    days on market $125,000 Under Contract 59 DOM
11. 2026-06-07
    days on market $125,000 Under Contract 58 DOM
12. 2026-06-04
    days on market $125,000 Under Contract 55 DOM
13. 2026-06-02
    days on market $125,000 Under Contract 54 DOM
14. 2026-06-01
    days on market $125,000 Under Contract 53 DOM
15. 2026-05-31
    days on market $125,000 Under Contract 52 DOM
16. 2026-05-31
    days on market $125,000 Under Contract 51 DOM
17. 2026-04-20
    historical Under Contract
18. 2026-04-09
    listed $125,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,322
• − Mortgage interest: −$7,002
• − Property taxes: −$1,875
• − Insurance: −$625
• − Repairs & maintenance: −$1,306
• − Management: −$1,306
• − Depreciation: −$3,636
• Taxable income: $572
• Est. tax owed @ 24.0%: −$137
• After-tax cash flow: $2,391/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: CUSD 4
• NCES district ID: 1725590
• Math proficiency: 16% ▼ -5.00%
• Reading proficiency: 23% ▼ -6.00%
• Median HH income: $48,758
• Composite: 17.36/100
• National rank: #9077
• State rank: #429 of 620 in IL

Livability — Mendon

• Score: 65/100
• State rank: #636
• US rank: #13015

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mendon, IL
• Population (ZIP): 2,026

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 (99%)
• Race & ethnicity: White 99%
• Common ancestry: Lithuanian 1% Scottish 1% Romanian 1%
• Foreign-born: 0%

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: ▲ 5.93%
• Current HPI: 166.7847
• 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

2 events — show timeline

• 2026-04-20 Contingent — RMLSA as Distributed by MLS Grid
• 2026-04-09 Listed $125,000 RMLSA as Distributed by MLS Grid