512 17th Ave #4 · East Moline, IL 61244

$149,900

8 bd · 4.0 ba · — sqft · MultiFamily

Built 1925 ↓ 2% since listing

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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 +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks

This 4 plex in East Moline is looking for its next investor. 3- 2 bedroom units and 1-3 bedroom unit, basement access for additional storage space with parking behind building. Unit 1 (2 Bed) is currently occupied with month-to-month lease @$750, Unit 2 (3 Bed) is currently occupied month-to-month lease @$950, Unit 3 (2 Bed) is currently open but re-painted and ready to lease @ $850, Unit 4 (2 Bed Jack & Jill Style) is occupied with a year lease @ $850. Total monthly income is $3400, yearly is $40,800, and owner pays all utilities. Tenants Right so 24 hour to show.

Key facts

• Built 1925

What this means for you Summary

Snapshot

• This is a 3×2bd/1.0ba + 1×3bd/1.0ba units multifamily listed at $150k.

Deal economics

• At list price, monthly cash flow is $2k ($28k/yr) — positive. Per door: $589/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $150k).
• Cap rate 25.1% vs local median 3.5% in East Moline — 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 62/100 on livability (#870 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, employment C-, schools F.
• United Twp Hsd 30 (suburban): math 12% / reading 15% proficiency, ranked #536 of 620 in IL (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 124 active listings in the ZIP; 116 units permitted in Rock Island County in 2024 (50 in 5+ unit buildings).
• At $4,292/mo this rent would consume 81% of the median local household income ($64k/yr) (locally 746% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• Rock Island County population projected at -12% 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 $42k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $149,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.86% ✓
• Cap rate: 25.14%
• Cash-on-cash: 67.32%
• DSCR: 4.00
• GRM: 2.9

CMA / ARV

No comps found within radius.

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
512 17th Ave #4	0.00mi	9/4.0 (+1)	3,628	5mo	$147,000	$41	78

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: 66.7%
• Equity multiple: 4.00×
• Total profit: $125,750
• Equity at exit: $22,351

10-year hold

• IRR: 70.9%
• Equity multiple: 8.22×
• Total profit: $302,882
• Equity at exit: $12,961

Cash invested: $41,972 (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 61244

• Active inventory: 124
• Price-to-rent: 11.8×

Monthly cashflow live

• Estimated rent: $4,292 high
• Mortgage (P&I): −$786
• Tax est. 1.5%: −$187 /mo · $2,248/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$901
• Net cashflow: $2,355

Break-even live

Break-even rent $1,311

Max offer price $149,900

Occupancy floor 40%

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$3,177
1× unit	3	1	$1,114
Total (4 units)			$4,292

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-05-24
   status Pending
2. 2026-05-24
   status Pending
3. 2026-05-22
   status Pending
4. 2026-01-09
   soldstatus $147,000 Closed
5. 2026-01-09
   soldstatus $147,000 Closed
6. 2026-01-09
   soldstatus $147,000 Closed
7. 2026-01-09
   soldstatus $147,000 Closed
8. 2026-01-08
   status Pending
9. 2026-01-05
   historical
10. 2025-12-05
    status Pending
11. 2025-12-05
    historical
12. 2025-12-05
    historical
13. 2025-10-15
    listed $149,900
14. 2025-10-15
    listed 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 ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $51,504
• − Mortgage interest: −$8,397
• − Property taxes: −$2,248
• − Insurance: −$750
• − Repairs & maintenance: −$4,120
• − Management: −$4,120
• − Depreciation: −$4,361
• Taxable income: $27,508
• Est. tax owed @ 24.0%: −$6,602
• After-tax cash flow: $21,655/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: United Twp Hsd 30
• NCES district ID: 1739870
• Math proficiency: 12% ▼ -5.00%
• Reading proficiency: 15% ▼ -6.00%
• Median HH income: $43,647
• Composite: 11.91/100
• National rank: #9670
• State rank: #536 of 620 in IL

Livability — East Moline

• Score: 62/100
• State rank: #870
• US rank: #16964

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: East Moline, IL
• County: Rock Island County · 103,822 people
• City population: 23,308
• Metro: Davenport-Moline-Rock Island, IA-IL
• Population (ZIP): 23,308
• Household income: $63,819
• Rent vs Own: 33.0% rent · 67.0% own
• Severe rent burden: 746.0

Population outlook (Rock Island County) Hauer SSP2

• Today (2025): 140,982 people
• By 2030: 137,705 · -2.3%
• By 2040: 130,512 · -7.4%
• By 2050: 123,841 · -12.2%
• By 2075: 109,851 · -22.1%
• By 2100: 90,922 · -35.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 55% Hispanic / Latino 19% Black 18% Two or more races 9% Asian 3%
• Hispanic origin (detail): Mexican 17%
• Common ancestry: English 3% Lithuanian 2% Romanian 2%
• Foreign-born: 13% · Canada, United Kingdom, Philippines
• Languages at home: 78% English-only · Spanish 12% French/Haitian/Cajun 3% Other Asian/Pacific 2%

Political lean MEDSL · Rock Island

• 2024 margin: Lean D (+9.6) · D 53.9% · R 44.4% · Other 1.7%
• 2008→2024 swing: -15.0pp toward R · 2008: 24.6pp · 2024: 9.6pp
• All cycles: 2024: D+9.6 2020: D+12.1 2016: D+8.4 2012: D+21.9 2008: D+24.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -108.05%
• Current HPI: 154.4012
• Rent YoY: —
• Metro: Davenport-Moline-Rock Island, IA-IL
• 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

-1.9% since first listed

14 events — show timeline

• 2026-05-24 Pending — MRED as Distributed by MLS Grid
• 2026-05-24 Pending — MRED as Distributed by MLS Grid
• 2026-05-22 Pending — MRED as Distributed by MLS Grid
• 2026-01-09 Sold (MLS) $147,000 MRED as Distributed by MLS Grid
• 2026-01-09 Sold (MLS) $147,000 MRED as Distributed by MLS Grid
• 2026-01-09 Sold (MLS) $147,000 MRED as Distributed by MLS Grid
• 2026-01-09 Sold (MLS) $147,000 MRED as Distributed by MLS Grid
• 2026-01-08 Pending — MRED as Distributed by MLS Grid
• 2026-01-05 Listing Removed — MRED as Distributed by MLS Grid
• 2025-12-05 Pending — RMLSA as Distributed by MLS Grid
• 2025-12-05 Listing Removed — RMLSA as Distributed by MLS Grid
• 2025-12-05 Listing Removed — MRED as Distributed by MLS Grid
• 2025-10-15 Listed — RMLSA as Distributed by MLS Grid
• 2025-10-15 Listed $149,900 MRED as Distributed by MLS Grid