215 N 8th St · Mount Vernon, IL 62864

$40,000

2 bd · 1.0 ba · 1,032 sqft · SingleFamily · 169 Days on market

Built 1940 3,619 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks

2 bedroom, 1 bath home with hardwood floors, spacious living room, and enclosed porch. Main-level laundry, unfinished basement for added storage, plus an attached carport and fenced area for pets or privacy.

Key facts

• Attached carport
• Unfinished basement
• Enclosed porch

Tags

• HARDWOOD FLOORS
• SPACIOUS LIVING ROOM
• ENCLOSED PORCH
• MAIN-LEVEL LAUNDRY
• UNFINISHED BASEMENT
• ATTACHED CARPORT

Property features AI

Exterior

• Parking: No garage; Carport
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; Built approximately 81–90 years ago; Built before 1978
• Construction: Vinyl siding with frame construction; Block foundation
• Exterior features: Front porch; Fenced yard

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 2 bedrooms (both on the main level)
• Flooring: Hardwood flooring in living room and bedrooms; Vinyl flooring in kitchen
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Unfinished basement with egress window

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $518 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Recommended offer: $35k (12.0% below list) — sets the bar for market timing.
• Cap rate 21.8% vs local median 5.3% in Mount Vernon — 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 69/100 on livability (#413 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools F, amenities F, commute F.
• Mt Vernon Twp Hsd 201 (town): math 13% / reading 16% proficiency, ranked #532 of 620 in IL (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 191 active listings in the ZIP; 6 units permitted in Jefferson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $277 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Jefferson 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 + 3.0% rent growth), your $11k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 169 days — a 12% lower offer ($35k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $35,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 169 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: 2.67% ✓
• Cap rate: 21.84%
• Cash-on-cash: 55.53%
• DSCR: 3.47
• GRM: 3.1

CMA / ARV

• ARV (on-the-fly): $87,720
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
500 N 8th St	0.16mi	2/1.0	1,056 (+2%)	13mo	$89,900	$85	78
500 N 8th St	0.16mi	2/1.0	1,056 (+2%)	13mo	$89,900	$85	78
400 N 8th St	0.11mi	2/1.0	1,156 (+12%)	0mo	$89,900	$78	74
317 N 7th St	0.12mi	3/1.0 (+1)	968 (-6%)	8mo	$25,000	$26	73
719 Harrison	0.07mi	3/1.0 (+1)	1,132 (+10%)	9mo	$92,500	$82	68
408 N 6th St	0.23mi	2/1.0	914 (-11%)	6mo	$74,000	$81	65
317 S 1st St	0.65mi	2/1.0	1,008 (-2%)	2mo	$45,000	$45	64
1003 Warren Ave	0.70mi	2/1.0	1,056 (+2%)	3mo	$123,000	$116	61
507 N 12th St	0.45mi	3/1.0 (+1)	1,140 (+10%)	1mo	$115,000	$101	56
331 N 4th St	0.34mi	1/1.0 (-1)	897 (-13%)	3mo	$46,309	$52	55
1609 Isabella	0.61mi	2/1.0	884 (-14%)	2mo	$88,000	$100	46
1717 Isabella Ave	0.74mi	2/2.0	1,176 (+14%)	10mo	$141,500	$120	30

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 53.9%
• Equity multiple: 3.37×
• Total profit: $26,571
• Equity at exit: $5,964

10-year hold

• IRR: 59.0%
• Equity multiple: 6.88×
• Total profit: $65,826
• Equity at exit: $3,458

Cash invested: $11,200 (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 62864

• Active inventory: 191
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,067 medium
• Mortgage (P&I): −$210
• Tax from tax record: −$98 /mo · $1,178/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$224
• Net cashflow: $518

Break-even live

Break-even rent $411

Max offer price $40,000

Occupancy floor 46%

Sensitivity live

Price	-10% $541	-5% $530	+0% $518	+5% $507	+10% $496
Rent	-10% $434	-5% $476	+0% $518	+5% $560	+10% $603
Rate	-1.0pp $538	-0.5pp $528	base $518	+0.5pp $508	+1.0pp $497

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-07
   statusdays on market $40,000 Pending 169 DOM
2. 2026-06-07
   days on market $40,000 Active 168 DOM
3. 2026-06-04
   days on market $40,000 Active 165 DOM
4. 2026-06-02
   days on market $40,000 Active 164 DOM
5. 2026-06-01
   days on market $40,000 Active 163 DOM
6. 2026-05-31
   days on market $40,000 Active 162 DOM
7. 2026-05-31
   days on market $40,000 Active 161 DOM
8. 2026-05-23
   historical
9. 2026-05-23
   price
10. 2026-02-19
    price
11. 2026-01-08
    status Active
12. 2026-01-06
    historical
13. 2026-01-05
    historical
14. 2025-11-26
    listed 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: $1,178 · $98/mo
• Projected year-2 tax: $1,178 · $98/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 FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,803
• − Mortgage interest: −$2,241
• − Property taxes: −$1,178
• − Insurance: −$200
• − Repairs & maintenance: −$1,024
• − Management: −$1,024
• − Depreciation: −$1,164
• Taxable income: $5,972
• Est. tax owed @ 24.0%: −$1,433
• After-tax cash flow: $4,786/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: Mt Vernon Twp Hsd 201
• NCES district ID: 1727360
• Math proficiency: 13% ▼ -8.00%
• Reading proficiency: 16% ▼ -8.00%
• Median HH income: $38,188
• Composite: 12.22/100
• National rank: #9648
• State rank: #532 of 620 in IL

Livability — Mount Vernon

• Score: 69/100
• State rank: #413
• US rank: #8520

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mount Vernon, IL
• Population (ZIP): 23,061

Population outlook (Jefferson County) Hauer SSP2

• Today (2025): 36,818 people
• By 2030: 35,764 · -2.9%
• By 2040: 33,649 · -8.6%
• By 2050: 31,557 · -14.3%
• By 2075: 26,055 · -29.2%
• By 2100: 19,237 · -47.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Black 8% Two or more races 6% Hispanic / Latino 3% Asian 1%
• Common ancestry: Romanian 2% Slovak 2% Serbian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% Tagalog/Filipino 1%

Political lean MEDSL · Jefferson

• 2024 margin: Solid R (+47.8) · D 25.5% · R 73.3% · Other 1.3%
• 2008→2024 swing: -37.0pp toward R · 2008: -10.7pp · 2024: -47.8pp
• All cycles: 2024: R+47.8 2020: R+45.1 2016: R+43.2 2012: R+22.9 2008: R+10.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -83.64%
• Current HPI: 134.2669
• 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

Property tax history

+6.6%/yr

Latest (2024): $1,178 · +12.9% YoY. Source: county tax records.