610 Hickory St · Edgewood, IL 62426

$49,900

3 bd · 1.0 ba · 784 sqft · SingleFamily public records · 42 Days on market

Built 1937 0.34 ac lot $64/sqft · 36% below area

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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
• Appreciation +8.0/10.0
• ARV discount +7.5/15.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0

Listing remarks MLS

Investor Special in the Heart of Edgewood! Opportunity awaits at 610 Hickory Street in Edgewood, IL! Situated on a desirable corner lot, this property is perfect for investors, flippers, or anyone looking to bring a home back to life. With a large backyard and two huge detached sheds, there’s no shortage of space for storage, workshops, or future projects. Located directly across from the ball field, you’ll enjoy open views and a convenient, community-centered setting. This property offers plenty of potential to renovate, customize, and create something truly special. Whether you’re looking for your next investment or a project to make your own, this home is your chance to tap into the charm of small-town living in Edgewood. Bring your vision and unlock the possibilities! * Measurements are approximate.

Key facts

• Large backyard
• Corner lot
• 0.34 acre lot

Tags

• CORNER LOT
• LARGE BACKYARD
• TWO HUGE DETACHED SHEDS
• ACROSS FROM THE BALL FIELD

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $284 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($899 rent vs $50k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#941 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing B+; Watch: schools F, crime F, amenities F.
• Effingham CUSD 40 (town): math 18% / reading 26% proficiency, ranked #387 of 620 in IL (top 62%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 3 active listings in the ZIP; 27 units permitted in Effingham County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($345 loan paydown + $3k appreciation (6.0% local appreciation)).
• Effingham County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 3 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.
• Current owner paid $22k; list at $50k implies a 132% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.5% of price; built in 1937 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $48,403 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1937 — 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. 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. Crime grade is F 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?
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: 1.80% ✓
• Cap rate: 13.12%
• Cash-on-cash: 24.39%
• DSCR: 2.09
• GRM: 4.6

CMA / ARV

• ARV (median comp): $123,148
• List price: $49,900
• Delta: -59.48%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
807 Ash St	0.31mi	2/1.0 (-1)	888 (+13%)	14mo	$68,000	$77	47

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

5.99% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 36.0%
• Equity multiple: 3.33×
• Total profit: $32,521
• Equity at exit: $31,331

10-year hold

• IRR: 33.4%
• Equity multiple: 6.84×
• Total profit: $81,633
• Equity at exit: $56,784

Cash invested: $13,972 (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 62426

• Home prices YoY: 5.1%
• Active inventory: 3
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $899 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$144 /mo · $1,729/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$189
• Net cashflow: $284

Break-even live

Break-even rent $540

Max offer price $49,900

Occupancy floor 63%

Sensitivity live

Price	-10% $312	-5% $298	+0% $284	+5% $270	+10% $256
Rent	-10% $213	-5% $248	+0% $284	+5% $319	+10% $355
Rate	-1.0pp $309	-0.5pp $297	base $284	+0.5pp $271	+1.0pp $258

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-04-26
   status Active 836-char remark

   Show marketing remark (836 chars)

   Investor Special in the Heart of Edgewood! Opportunity awaits at 610 Hickory Street in Edgewood, IL! Situated on a desirable corner lot, this property is perfect for investors, flippers, or anyone looking to bring a home back to life. With a large backyard and two huge detached sheds, there’s no shortage of space for storage, workshops, or future projects. Located directly across from the ball field, you’ll enjoy open views and a convenient, community-centered setting. This property offers plenty of potential to renovate, customize, and create something truly special. Whether you’re looking for your next investment or a project to make your own, this home is your chance to tap into the charm of small-town living in Edgewood. Bring your vision and unlock the possibilities! * Measurements are approximate.

2. 2026-04-24
   status Pending 836-char remark

   Show marketing remark (836 chars)

   Investor Special in the Heart of Edgewood! Opportunity awaits at 610 Hickory Street in Edgewood, IL! Situated on a desirable corner lot, this property is perfect for investors, flippers, or anyone looking to bring a home back to life. With a large backyard and two huge detached sheds, there’s no shortage of space for storage, workshops, or future projects. Located directly across from the ball field, you’ll enjoy open views and a convenient, community-centered setting. This property offers plenty of potential to renovate, customize, and create something truly special. Whether you’re looking for your next investment or a project to make your own, this home is your chance to tap into the charm of small-town living in Edgewood. Bring your vision and unlock the possibilities! * Measurements are approximate.

3. 2026-04-15
   listed $49,900 Active 836-char remark

   Show marketing remark (836 chars)

   Investor Special in the Heart of Edgewood! Opportunity awaits at 610 Hickory Street in Edgewood, IL! Situated on a desirable corner lot, this property is perfect for investors, flippers, or anyone looking to bring a home back to life. With a large backyard and two huge detached sheds, there’s no shortage of space for storage, workshops, or future projects. Located directly across from the ball field, you’ll enjoy open views and a convenient, community-centered setting. This property offers plenty of potential to renovate, customize, and create something truly special. Whether you’re looking for your next investment or a project to make your own, this home is your chance to tap into the charm of small-town living in Edgewood. Bring your vision and unlock the possibilities! * Measurements are approximate.

4. 2025-11-26
   price $80,000
5. 2025-11-15
   price $90,000
6. 2025-10-22
   price $100,000
7. 2025-09-19
   price $106,999
8. 2025-08-19
   listed $116,999 Active
9. 2015-09-23
   soldstatus $21,500
10. 2015-09-23
    soldstatus $21,500

ⓘ 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: $1,729 · $144/mo
• Projected year-2 tax: $1,729 · $144/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 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,793
• − Mortgage interest: −$2,795
• − Property taxes: −$1,729
• − Insurance: −$250
• − Repairs & maintenance: −$863
• − Management: −$863
• − Depreciation: −$1,452
• Taxable income: $2,841
• Est. tax owed @ 24.0%: −$682
• After-tax cash flow: $2,726/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: Effingham CUSD 40
• NCES district ID: 1713560
• Math proficiency: 18% ▼ -5.00%
• Reading proficiency: 26% ▼ -6.00%
• Median HH income: $48,021
• Composite: 19.35/100
• National rank: #8789
• State rank: #387 of 620 in IL

Livability — Edgewood

• Score: 61/100
• State rank: #941
• US rank: #18297

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Edgewood, IL
• Population (ZIP): 769

Population outlook (Effingham County) Hauer SSP2

• Today (2025): 34,179 people
• By 2030: 33,648 · -1.6%
• By 2040: 32,066 · -6.2%
• By 2050: 29,813 · -12.8%
• By 2075: 24,101 · -29.5%
• By 2100: 17,174 · -49.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 14% Hispanic / Latino 2%
• Common ancestry: Lithuanian 3% Romanian 3% Iranian 1%

Political lean MEDSL · Effingham

• 2024 margin: Solid R (+60.4) · D 19.0% · R 79.3% · Other 1.7%
• 2008→2024 swing: -24.4pp toward R · 2008: -36.0pp · 2024: -60.4pp
• All cycles: 2024: R+60.4 2020: R+59.2 2016: R+60.5 2012: R+52.0 2008: R+36.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.99%
• Current HPI: 123.2134
• 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

+132.1% since first listed

10 events — show timeline

• 2026-04-26 Relisted — CIBR
• 2026-04-24 Pending — CIBR
• 2026-04-15 Listed $49,900 CIBR
• 2025-11-26 Price Changed $80,000 CIBR
• 2025-11-15 Price Changed $90,000 CIBR
• 2025-10-22 Price Changed $100,000 CIBR
• 2025-09-19 Price Changed $106,999 CIBR
• 2025-08-19 Listed $116,999 CIBR
• 2015-09-23 Sold (Public Records) $21,500 Public Records
• 2015-09-23 Sold (Public Records) $21,500 Public Records

Property tax history

+0.9%/yr

Latest (2024): $1,729 · +10.4% YoY. Source: county tax records.