536 S Main St · Columbia, IL 62236

$660,000

None bd · 3768.0 ba · 5,174 sqft · MultiFamily · 50 Days on market

Built 1900 Good condition 0.40 ac lot $128/sqft · at area comps Est $660k · at est.

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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 +21.5/30.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• 1% rule +5.7/10.0
• Condition / age +4.0/5.0
• Livability +3.9/5.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Prime investment opportunity in the heart of Main Street, Columbia. This fully occupied mixed-use building features six residential units (a mix of one- and two-bedroom apartments) along with one commercial space, offering immediate and stable rental income. The property boasts strong occupancy with established leases in place, minimizing vacancy risk. Tenants benefit from ample off-street parking, and select ground-floor units include private back patios for added appeal. A centrally located coin-operated washer and dryer provide an additional income stream. With its desirable location and diversified unit mix, this property is well-positioned for both steady cash flow and long-term apprec

Key facts

• 0.4 acre lot
• Built 1900
• Listed 50 days

Property features AI

Finance

• Other: No pool; Seven total units in community and building (number of units leased listed as seven); Above-grade finished area reported by appraiser
• Financial info: Owner is responsible for common area maintenance, exterior maintenance, grounds care, HVAC maintenance, insurance, repairs, roof, sewer, snow removal, taxes, trash, and water
• HOA & community: Community sidewalks; Street lights

Exterior

• Parking: Concrete parking surface
• Utilities: Public water; Electric service via Ameren
• Home design: Residential income property (5 family or more); Mixed-use structure; One and one-half levels; Private ownership
• Construction: Block construction; Architectural shingle roof
• Exterior features: Patio; Entry steps/stairs; Private yard; Rain gutters; Wood fencing; Back yard; Few trees; Level lot; Asphalt road frontage on a city street; Frontage length approximately 115 feet

Interior

• Bedrooms: Main and upper level bedrooms not specified
• Flooring: Laminate
• Bathrooms: Main and upper level bathrooms not specified
• Heating & cooling: Forced air heating; Central air conditioning; Ceiling fans for cooling
• Interior features: Ceiling fans; Insulated windows; Laminate flooring
• Laundry & utility: Laundry located on 2nd floor in hall

What this means for you Summary

Snapshot

• This is a ?-bed/3768.0-bath multifamily listed at $660k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $994 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $660k).
• Recommended offer: $640k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 1.7% in Columbia — 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 78/100 on livability (#149 in IL, #2,731 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: amenities F, health & safety F.
• Columbia CUSD 4 (suburban): math 42% / reading 38% proficiency, ranked #121 of 620 in IL (top 20%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 10% free/reduced lunch — higher-income household profile.
• Zoned schools: Parkview Elementary School (math 51% / reading 44%, grade D, #217 of 2,056 statewide, top 11%, 432 students, 0% FRL); Columbia Middle School (math 37% / reading 35%, grade F, #182 of 665 statewide, top 28%, 608 students, 0% FRL); Columbia High School (math 47% / reading 42%, grade F, #62 of 693 statewide, top 10%, 635 students, 0% FRL).
• Market conditions: 134 active listings in the ZIP; 62 units permitted in Monroe County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $20k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($640k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $640,200 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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 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: 1.07% ✓
• Cap rate: 8.10%
• Cash-on-cash: 6.46%
• DSCR: 1.29
• GRM: 7.8

CMA / ARV

• ARV (median comp): $660,000
• List price: $660,000
• Delta: —
• Verdict: FAIR
• Comps: 1 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
536 S Main St	0.00mi	—/3768.0	5,174 (0%)	0mo	$660,000	$128	100

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: -6.3%
• Equity multiple: 0.76×
• Total profit: $-43,523
• Equity at exit: $98,408

10-year hold

• IRR: 3.3%
• Equity multiple: 1.24×
• Total profit: $44,065
• Equity at exit: $57,065

Cash invested: $184,800 (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 62236

• Home prices YoY: -33.2%
• Active inventory: 134
• Price-to-rent: 47.8×

Monthly cashflow live

• Estimated rent: $7,032 medium
• Mortgage (P&I): −$3,461
• Tax est. 1.5%: −$825 /mo · $9,900/yr
• Insurance: −$275
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,477
• Net cashflow: $994

Break-even live

Break-even rent $5,774

Max offer price $660,000

Occupancy floor 81%

Sensitivity live

Price	-10% $1,450	-5% $1,222	+0% $994	+5% $766	+10% $538
Rent	-10% $439	-5% $716	+0% $994	+5% $1,272	+10% $1,550
Rate	-1.0pp $1,327	-0.5pp $1,162	base $994	+0.5pp $823	+1.0pp $649

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

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$4,604
▸ 2× units	2	1	$2,426
Total (6 units)			$7,032

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: $165,000
• Closing costs: $19,800
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-13
   statusdays on market $660,000 Pending 50 DOM
2. 2026-06-09
   days on market $660,000 Active Under Contract 47 DOM
3. 2026-06-08
   days on market $660,000 Active Under Contract 46 DOM
4. 2026-06-07
   days on market $660,000 Active Under Contract 45 DOM
5. 2026-06-03
   days on market $660,000 Active Under Contract 41 DOM
6. 2026-06-02
   days on market $660,000 Active Under Contract 40 DOM
7. 2026-06-01
   days on market $660,000 Active Under Contract 39 DOM
8. 2026-05-31
   days on market $660,000 Active Under Contract 38 DOM
9. 2026-05-05
   historical Active Under Contract 719-char remark
10. 2026-04-24
    listed $660,000 Active 719-char remark
11. 2026-04-21
    historical $660,000 719-char remark

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

Taxation est. · year 1

• Rental income: $84,384
• − Mortgage interest: −$36,970
• − Property taxes: −$9,900
• − Insurance: −$3,300
• − Repairs & maintenance: −$6,751
• − Management: −$6,751
• − Depreciation: −$19,200
• Taxable income: $1,512
• Est. tax owed @ 24.0%: −$363
• After-tax cash flow: $11,567/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.

Condition & rehab AI · 13 photos

Good 80/100 Cosmetic rehab

This fully occupied mixed-use building in Columbia, IL, offers a good investment opportunity with six residential units and one commercial space. The property is in good condition with minimal maintenance required.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and resale value
• Both Replace gutters — Improves drainage and reduces maintenance costs

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and resale value ↑
• Both Replace gutters — Improves drainage and reduces maintenance costs ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Columbia CUSD 4
• NCES district ID: 1710740
• Math proficiency: 42% ▼ -18.00%
• Reading proficiency: 38% ▼ -14.00%
• Median HH income: $75,288
• Composite: 36.93/100
• National rank: #4536
• State rank: #121 of 620 in IL

Livability — Columbia

• Score: 78/100
• State rank: #149
• US rank: #2731

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Columbia, IL
• Population (ZIP): 14,175

Population outlook (Monroe County) Hauer SSP2

• Today (2025): 35,776 people
• By 2030: 36,437 · +1.8%
• By 2040: 36,967 · +3.3%
• By 2050: 36,310 · +1.5%
• By 2075: 34,133 · -4.6%
• By 2100: 28,857 · -19.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Lithuanian 4% Romanian 3% Italian 2%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Monroe

• 2024 margin: Solid R (+36.3) · D 31.0% · R 67.3% · Other 1.7%
• 2008→2024 swing: -25.6pp toward R · 2008: -10.7pp · 2024: -36.3pp
• All cycles: 2024: R+36.3 2020: R+35.7 2016: R+37.2 2012: R+26.9 2008: R+10.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -89.45%
• Current HPI: 180.0454
• 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

+0.0% since first listed

5 events — show timeline

• 2026-06-15 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2026-06-12 Pending — MARIS as Distributed by MLS Grid
• 2026-05-05 Contingent — MARIS as Distributed by MLS Grid
• 2026-04-24 Listed $660,000 MARIS as Distributed by MLS Grid
• 2026-04-21 Coming Soon $660,000 MARIS as Distributed by MLS Grid