301 S 3rd St · Altamont, IL 62411

$99,900

1 bd · 1.0 ba · 1,080 sqft · SingleFamily public records · 141 Days on market

Built 1900 6,534 sqft lot $92/sqft · 14% below area Est $134k · 26% under

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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 +19.5/30.0
• ARV discount +15.0/15.0
• DSCR +6.2/10.0
• 1% rule +4.5/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cute Home on a Corner Lot in Town with a Large Fenced in Yard! Come and Check out this Cute 2 Bedroom Home. As you Enter from the Covered Front Porch you are greeted by the spacious Living Room and large Dining Room. 2 Bedrooms with Walk-In Closets and an Office and/or 3rd Bedroom are located off of the Living Room and Dining Room. The Kitchen has New Cabinets and Stainless Steel Appliances. The Full Bathroom offers a Double Vanity and Tub/Shower Combo with Tiled Surround. The Laundry Room is conveniently located at the back of the House off of the Kitchen. Outside, you will find an extra large fenced in backyard and a 1 1/2 car detached garage. Roof 2009; Water Heater 2026; HVAC 2008 (has been serviced recently). Property is being Sold "As-Is".

Key facts

• Covered front porch
• Large fenced yard
• Walk-in closets

Tags

• CORNER LOT
• LARGE FENCED YARD
• COVERED FRONT PORCH
• WALK-IN CLOSETS
• NEW CABINETS
• STAINLESS STEEL APPLIANCES

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $114 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $95k (4.7% below list).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#578 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: employment C-, schools F, amenities F.
• Altamont CUSD 10 (rural): math 24% / reading 30% proficiency, ranked #284 of 620 in IL (top 46%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 22 active listings in the ZIP; 27 units permitted in Effingham County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Effingham County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 141 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y ago; this cycle's ask has dropped $15k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $87,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 141 days. Have you received any prior offers? Is the seller open to a 12% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 0.95% ✗
• Cap rate: 7.66%
• Cash-on-cash: 4.90%
• DSCR: 1.22
• GRM: 8.7

CMA / ARV

• ARV (median comp): $134,298
• List price: $99,900
• Delta: -25.61%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
205 S Saint Clair St	0.14mi	2/1.0 (+1)	1,082 (+0%)	9mo	$113,000	$104	81
413 S 4th St	0.11mi	2/2.0 (+1)	1,120 (+4%)	21mo	$175,000	$156	62
405 N Saint Clair St	0.58mi	2/2.0 (+1)	1,084 (+0%)	9mo	$81,000	$75	56
8 Madison Ave	0.43mi	2/1.0 (+1)	952 (-12%)	2mo	$120,000	$126	53
7 E Madison Ave	0.49mi	2/1.0 (+1)	1,120 (+4%)	18mo	$79,000	$71	51
407 N 9th St	0.65mi	2/1.0 (+1)	948 (-12%)	11mo	$113,000	$119	35
311 N Edwards St	0.56mi	2/1.0 (+1)	952 (-12%)	21mo	$106,400	$112	32

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: -8.7%
• Equity multiple: 0.68×
• Total profit: $-8,933
• Equity at exit: $14,895

10-year hold

• IRR: 0.8%
• Equity multiple: 1.05×
• Total profit: $1,514
• Equity at exit: $8,638

Cash invested: $27,972 (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 62411

• Home prices YoY: -22.9%
• Active inventory: 22
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $952 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$73 /mo · $870/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$200
• Net cashflow: $114

Break-even live

Break-even rent $808

Max offer price $99,900

Occupancy floor 83%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $99,900 Active 141 DOM
2. 2026-06-17
   days on market $99,900 Active 140 DOM
3. 2026-06-16
   days on market $99,900 Active 139 DOM
4. 2026-06-15
   days on market $99,900 Active 138 DOM
5. 2026-06-13
   days on market $99,900 Active 136 DOM
6. 2026-06-12
   days on market $99,900 Active 135 DOM
7. 2026-06-09
   days on market $99,900 Active 132 DOM
8. 2026-06-08
   days on market $99,900 Active 131 DOM
9. 2026-06-07
   days on market $99,900 Active 130 DOM
10. 2026-06-07
    days on market $99,900 Active 129 DOM
11. 2026-06-04
    days on market $99,900 Active 126 DOM
12. 2026-06-02
    days on market $99,900 Active 125 DOM
13. 2026-06-01
    days on market $99,900 Active 124 DOM
14. 2026-05-31
    days on market $99,900 Active 123 DOM
15. 2026-05-31
    days on market $99,900 Active 122 DOM
16. 2026-04-09
    price $109,900 765-char remark

    Show marketing remark (765 chars)

    Cute Home on a Corner Lot in Town with a Large Fenced in Yard! Come and Check out this Cute 2 Bedroom Home. As you Enter from the Covered Front Porch you are greeted by the spacious Living Room and large Dining Room. 2 Bedrooms with Walk-In Closets and an Office and/or 3rd Bedroom are located off of the Living Room and Dining Room. The Kitchen has New Cabinets and Stainless Steel Appliances. The Full Bathroom offers a Double Vanity and Tub/Shower Combo with Tiled Surround. The Laundry Room is conveniently located at the back of the House off of the Kitchen. Outside, you will find an extra large fenced in backyard and a 1 1/2 car detached garage. Roof 2009; Water Heater 2026; HVAC 2008 (has been serviced recently). Property is being Sold "As-Is".

17. 2026-01-28
    listed $115,000 Active 765-char remark

    Show marketing remark (765 chars)

    Cute Home on a Corner Lot in Town with a Large Fenced in Yard! Come and Check out this Cute 2 Bedroom Home. As you Enter from the Covered Front Porch you are greeted by the spacious Living Room and large Dining Room. 2 Bedrooms with Walk-In Closets and an Office and/or 3rd Bedroom are located off of the Living Room and Dining Room. The Kitchen has New Cabinets and Stainless Steel Appliances. The Full Bathroom offers a Double Vanity and Tub/Shower Combo with Tiled Surround. The Laundry Room is conveniently located at the back of the House off of the Kitchen. Outside, you will find an extra large fenced in backyard and a 1 1/2 car detached garage. Roof 2009; Water Heater 2026; HVAC 2008 (has been serviced recently). Property is being Sold "As-Is".

18. 2019-02-04
    soldstatus $108,500
19. 2019-01-31
    soldstatus $75,500 398-char remark

    Show marketing remark (398 chars)

    This home was renovated in 2018 and is ready to move into! The hardwood flooring throughout was all refinished and stained! The bathroom is all new with ceramic tiled floor, tiled walls around tub/shower, new vanity and stool. All new trim and casing in home. HVAC was new in 2008, Roof 2009, Water Heater new in 2017. The home also features a nice wooden privacy fence, and a detached garage.

20. 2019-01-31
    soldstatus $75,500

    Show marketing remark (398 chars)

    This home was renovated in 2018 and is ready to move into! The hardwood flooring throughout was all refinished and stained! The bathroom is all new with ceramic tiled floor, tiled walls around tub/shower, new vanity and stool. All new trim and casing in home. HVAC was new in 2008, Roof 2009, Water Heater new in 2017. The home also features a nice wooden privacy fence, and a detached garage.

21. 2018-12-09
    listed $79,900 398-char remark

    Show marketing remark (398 chars)

    This home was renovated in 2018 and is ready to move into! The hardwood flooring throughout was all refinished and stained! The bathroom is all new with ceramic tiled floor, tiled walls around tub/shower, new vanity and stool. All new trim and casing in home. HVAC was new in 2008, Roof 2009, Water Heater new in 2017. The home also features a nice wooden privacy fence, and a detached garage.

22. 2018-12-09
    listed $79,900

    Show marketing remark (398 chars)

    This home was renovated in 2018 and is ready to move into! The hardwood flooring throughout was all refinished and stained! The bathroom is all new with ceramic tiled floor, tiled walls around tub/shower, new vanity and stool. All new trim and casing in home. HVAC was new in 2008, Roof 2009, Water Heater new in 2017. The home also features a nice wooden privacy fence, and a detached garage.

23. 2017-03-21
    soldstatus $65,000

ⓘ 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: $870 · $73/mo
• Projected year-2 tax: $1,569 · $131/mo
• Expected delta: +$699/yr (+$58/mo · 80.3%)

ⓘ 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 · 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: $11,427
• − Mortgage interest: −$5,596
• − Property taxes: −$870
• − Insurance: −$500
• − Repairs & maintenance: −$914
• − Management: −$914
• − Depreciation: −$2,906
• Taxable loss: −$274
• Est. tax savings @ 24.0%: +$66
• After-tax cash flow: $1,436/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: Altamont CUSD 10
• NCES district ID: 1703510
• Math proficiency: 24% ▲ 2.00%
• Reading proficiency: 30% ▼ -1.00%
• Median HH income: $51,557
• Composite: 23.85/100
• National rank: #7802
• State rank: #284 of 620 in IL

Livability — Altamont

• Score: 66/100
• State rank: #578
• US rank: #12096

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Altamont, IL
• Population (ZIP): 4,322

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 (94%)
• Race & ethnicity: White 94% Hispanic / Latino 4% Two or more races 1%
• Common ancestry: Lithuanian 5% German 4% Serbian 3%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 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: ▼ -58.77%
• Current HPI: 197.267
• 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

+69.1% since first listed

8 events — show timeline

• 2026-04-09 Price Changed $109,900 CIBR
• 2026-01-28 Listed $115,000 CIBR
• 2019-02-04 Sold (Public Records) $108,500 Public Records
• 2019-01-31 Sold (MLS) $75,500 CIBR
• 2019-01-31 Sold (MLS) $75,500 MRED as Distributed by MLS Grid
• 2018-12-09 Listed $79,900 CIBR
• 2018-12-09 Listed $79,900 MRED as Distributed by MLS Grid
• 2017-03-21 Sold (Public Records) $65,000 Public Records

Property tax history

+6.4%/yr

Latest (2024): $870 · +12.2% YoY. Source: county tax records.