332 Main St · Paris, IL 61944

$215,000

None bd · None ba · 4,544 sqft · MultiFamily · 40 Days on market

Built 1950 Fair condition 4,418 sqft lot $47/sqft · 165% above area

---

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
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• 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 MLS

Great investment potential! A total of 7 units, one of which is a retail office. Newer flooring in units and some have been completely remodeled. Newly painted in the past two years and a new metal roof over the residential area. Extra large garage/workshop in rear of building which could be used for storage or additional income if you desired to lease the space. All units are currently rented.

Key facts

• New metal roof
• Extra large garage
• Newer flooring

Tags

• NEWER FLOORING
• COMPLETELY REMODELED
• NEW METAL ROOF
• EXTRA LARGE GARAGE

What this means for you Summary

Snapshot

• This is a multifamily listed at $215k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $3k ($34k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $215k).
• Recommended offer: $209k (3.0% below list) — sets the bar for market timing.
• Cap rate 22.0% vs local median 8.3% in Paris — 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 71/100 on livability (#342 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, crime F, amenities F.
• Paris-Union SD 95 (town): math 25% / reading 42% proficiency, ranked #227 of 620 in IL (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 82 active listings in the ZIP; 6 units permitted in Edgar County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Edgar County population projected at -30% 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 $60k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($209k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $208,550 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1950 — 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. 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?
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: 2.53% ✓
• Cap rate: 22.00%
• Cash-on-cash: 56.08%
• DSCR: 3.50
• GRM: 3.3

CMA / ARV

• ARV (median comp): $81,124
• List price: $215,000
• Delta: 165.03%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 54.5%
• Equity multiple: 3.40×
• Total profit: $144,427
• Equity at exit: $32,057

10-year hold

• IRR: 59.6%
• Equity multiple: 6.93×
• Total profit: $356,827
• Equity at exit: $18,589

Cash invested: $60,200 (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 61944

• Active inventory: 82
• Price-to-rent: 23.0×

Monthly cashflow live

• Estimated rent: $5,442 medium
• Mortgage (P&I): −$1,127
• Tax est. 1.5%: −$269 /mo · $3,225/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,143
• Net cashflow: $2,813

Break-even live

Break-even rent $1,881

Max offer price $215,000

Occupancy floor 43%

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

Units	Beds	Baths	Est. rent
▸ 6× units	1	1	$4,674
1× unit	0	0	$766
Total (7 units)			$5,442

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-16
   statusdays on market $215,000 Pending 40 DOM
2. 2026-06-15
   days on market $215,000 Active Under Contract 39 DOM
3. 2026-06-13
   days on market $215,000 Active Under Contract 37 DOM
4. 2026-06-12
   days on market $215,000 Active Under Contract 36 DOM
5. 2026-06-09
   days on market $215,000 Active Under Contract 33 DOM
6. 2026-06-08
   days on market $215,000 Active Under Contract 32 DOM
7. 2026-06-07
   days on market $215,000 Active Under Contract 31 DOM
8. 2026-06-07
   days on market $215,000 Active Under Contract 30 DOM
9. 2026-06-04
   days on market $215,000 Active Under Contract 27 DOM
10. 2026-06-03
    status $215,000 Active Under Contract 26 DOM
11. 2026-06-02
    days on market $215,000 Active 26 DOM
12. 2026-06-01
    days on market $215,000 Active 25 DOM
13. 2026-05-31
    days on market $215,000 Active 24 DOM
14. 2026-05-31
    days on market $215,000 Active 23 DOM
15. 2026-05-07
    listed $215,000 Active 398-char remark

    Show marketing remark (398 chars)

    Great investment potential! A total of 7 units, one of which is a retail office. Newer flooring in units and some have been completely remodeled. Newly painted in the past two years and a new metal roof over the residential area. Extra large garage/workshop in rear of building which could be used for storage or additional income if you desired to lease the space. All units are currently rented.

ⓘ 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: $65,304
• − Mortgage interest: −$12,043
• − Property taxes: −$3,225
• − Insurance: −$1,075
• − Repairs & maintenance: −$5,224
• − Management: −$5,224
• − Depreciation: −$6,255
• Taxable income: $32,257
• Est. tax owed @ 24.0%: −$7,742
• After-tax cash flow: $26,019/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

Fair 45/100 Moderate rehab

The property requires significant repairs and maintenance, including a new metal roof and exterior siding, to improve its condition and increase its value.

Repairs flagged

• Major Metal roof — The independent image shows the metal roof over the residential area in poor condition.
• Major Exterior siding — The independent image shows the exterior siding in poor condition.
• Major Kitchen appliances — The listing photos show outdated appliances in the kitchen.

Value-add opportunities

• Both New metal roof — A new metal roof would significantly improve the overall condition of the property and increase its value.
• Both New exterior siding — New exterior siding would improve the curb appeal and increase the property's value.
• Both Upgraded kitchen appliances — Upgraded kitchen appliances would improve the functionality and aesthetics of the kitchen, increasing its value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Metal roof · The independent image shows the metal roof over the residential area in poor condition.	Major	$15,000–50,000
Exterior siding · The independent image shows the exterior siding in poor condition.	Major	$15,000–50,000
Kitchen appliances · The listing photos show outdated appliances in the kitchen.	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both New metal roof — A new metal roof would significantly improve the overall condition of the property and increase its value. ↑
• Both New exterior siding — New exterior siding would improve the curb appeal and increase the property's value. ↑
• Both Upgraded kitchen appliances — Upgraded kitchen appliances would improve the functionality and aesthetics of the kitchen, increasing its value. ↑

ⓘ 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: Paris-Union SD 95
• NCES district ID: 1730750
• Math proficiency: 25% ▼ -4.00%
• Reading proficiency: 42% ▼ -7.00%
• Median HH income: $36,294
• Composite: 27.73/100
• National rank: #6901
• State rank: #227 of 620 in IL

Livability — Paris

• Score: 71/100
• State rank: #342
• US rank: #6933

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Paris, IL
• City population: 11,426
• Population (ZIP): 11,426

Population outlook (Edgar County) Hauer SSP2

• Today (2025): 15,960 people
• By 2030: 14,978 · -6.2%
• By 2040: 12,990 · -18.6%
• By 2050: 11,087 · -30.5%
• By 2075: 7,338 · -54.0%
• By 2100: 4,526 · -71.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Slovak 2% Serbian 2% Italian 1%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 1% Other Indo-European 1%

Political lean MEDSL · Edgar

• 2024 margin: Solid R (+52.4) · D 23.0% · R 75.3% · Other 1.7%
• 2008→2024 swing: -44.4pp toward R · 2008: -7.9pp · 2024: -52.4pp
• All cycles: 2024: R+52.4 2020: R+52.5 2016: R+49.5 2012: R+32.8 2008: R+7.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -66.48%
• Current HPI: 108.1718
• 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

1 event — show timeline

• 2026-05-07 Listed $215,000 CIBR