222 W Park St · Harrisburg, IL 62946

$40,000

1 bd · 1.0 ba · 609 sqft · Other · 4 Days on market

Built 1930 4,165 sqft lot

---

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 +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

RETIRED or JUST STARTING OUT.... this adorable one bedroom home is for you. Roof is 4 years old, wiring and plumbing updated in 2004.Has fenced in yard. Stove, Refrigerator, washer & dryer

Key facts

• New furnace
• Full basement
• Fenced in side yard

Tags

• FULL BASEMENT
• FENCED IN SIDE YARD
• NEW FURNACE
• CENTRAL AIR

Property features AI

Finance

• Other: Lot dimensions approximately 49 x 85 (less than 0.25 acre); Total finished area reported as 609; Total finished + unfinished area reported as 1,109; Unfinished basement roughly 500
• HOA & community: No master association fees required

Exterior

• Parking: Two parking spaces; Gravel driveway (owned)
• Utilities: Public water; Public sewer; 200+ amp electrical service
• Home design: Detached single-family home; One-story; Fee simple ownership; Appraiser-listed living area
• Construction: Frame construction; Asphalt roof; Block foundation; Built 91-100 years ago; Built before 1978
• Exterior features: Other exterior features; Level lot

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: One bedroom (main level); Additional bedroom spaces noted
• Flooring: Vinyl in kitchen; Carpet in living room and master bedroom
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas heating; Window air conditioning units
• Interior features: Three total rooms; Full, unfinished basement
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath other listed at $40k.

Deal economics

• At list price, monthly cash flow is $362 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($844 rent vs $40k).
• Cap rate 17.2% vs local median 5.4% in Harrisburg — 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 72/100 on livability (#309 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: commute F, employment F.
• Harrisburg CUSD 3 (town): math 5% / reading 25% proficiency, ranked #521 of 620 in IL (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: West Side Primary School (424 students, 0% FRL); Harrisburg Middle School (math 7% / reading 28%, grade F, #450 of 665 statewide, top 69%, 331 students, 0% FRL); Harrisburg High School (math 2% / reading 22%, grade F, #506 of 693 statewide, top 74%, 544 students, 0% FRL) — zoned schools average 0% FRL vs 51% district-wide (51 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 76 active listings in the ZIP.

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.
• Saline County population projected at -16% 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 ~4 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 8y ago 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 $29k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1930 — 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 $40,000

Questions for the listing agent

1. Built in 1930 — 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 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?
4. 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.
5. 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.
6. 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: 2.11% ✓
• Cap rate: 17.17%
• Cash-on-cash: 38.83%
• DSCR: 2.73
• GRM: 4.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 35.1%
• Equity multiple: 2.49×
• Total profit: $16,632
• Equity at exit: $5,964

10-year hold

• IRR: 41.9%
• Equity multiple: 4.96×
• Total profit: $44,329
• 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 62946

• Active inventory: 76
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $844 medium
• Mortgage (P&I): −$210
• Tax from tax record: −$78 /mo · $932/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$177
• Net cashflow: $362

Break-even live

Break-even rent $385

Max offer price $40,000

Occupancy floor 52%

Sensitivity live

Price	-10% $385	-5% $374	+0% $362	+5% $351	+10% $340
Rent	-10% $296	-5% $329	+0% $362	+5% $396	+10% $429
Rate	-1.0pp $383	-0.5pp $373	base $362	+0.5pp $352	+1.0pp $342

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 5 events

1. 2026-06-22
   days on market $40,000 Active 4 DOM
2. 2026-06-21
   days on market $40,000 Active 3 DOM
3. 2026-06-21
   days on market $40,000 Active 2 DOM
4. 2026-06-18
   remarks 410-char remark
5. 2026-06-18
   listed $40,000 Active 1 DOM

ⓘ 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: $932 · $78/mo
• Projected year-2 tax: $932 · $78/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 ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% 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: $10,125
• − Mortgage interest: −$2,241
• − Property taxes: −$932
• − Insurance: −$200
• − Repairs & maintenance: −$810
• − Management: −$810
• − Depreciation: −$1,164
• Taxable income: $3,969
• Est. tax owed @ 24.0%: −$952
• After-tax cash flow: $3,397/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: Harrisburg CUSD 3
• NCES district ID: 1718270
• Math proficiency: 5% ▼ -5.00%
• Reading proficiency: 25% ▼ -9.00%
• Median HH income: $38,717
• Composite: 12.61/100
• National rank: #9613
• State rank: #521 of 620 in IL

Livability — Harrisburg

• Score: 72/100
• State rank: #309
• US rank: #6073

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Harrisburg, IL
• Population (ZIP): 11,465

Population outlook (Saline County) Hauer SSP2

• Today (2025): 23,915 people
• By 2030: 23,262 · -2.7%
• By 2040: 21,775 · -8.9%
• By 2050: 20,098 · -16.0%
• By 2075: 15,234 · -36.3%
• By 2100: 10,302 · -56.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Black 3%
• Common ancestry: Italian 2% Slovak 2% Serbian 2%
• Foreign-born: 0%

Political lean MEDSL · Saline

• 2024 margin: Solid R (+49.0) · D 24.8% · R 73.8% · Other 1.3%
• 2008→2024 swing: -40.1pp toward R · 2008: -8.9pp · 2024: -49.0pp
• All cycles: 2024: R+49.0 2020: R+47.9 2016: R+50.7 2012: R+29.0 2008: R+8.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -61.20%
• Current HPI: 102.6962
• 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

+33.8% since first listed

8 events — show timeline

• 2026-06-17 Listed $40,000 MRED as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2018-07-17 Sold (Public Records) $29,000 Public Records
• 2018-07-12 Sold (MLS) $29,000 MRED as Distributed by MLS Grid
• 2018-07-12 Sold (MLS) $29,000 RMLSA as Distributed by MLS Grid
• 2018-06-08 Listed $29,900 MRED as Distributed by MLS Grid
• 2018-06-08 Listed $29,900 RMLSA as Distributed by MLS Grid
• 2014-02-28 Listing Removed — MRED as Distributed by MLS Grid

Property tax history

+12.2%/yr

Latest (2024): $932 · +6.9% YoY. Source: county tax records.