1211 48th Ave #27 · East Moline, IL 61244

$65,000

2 bd · 2.0 ba · 1,008 sqft · Condo public records · 17 Days on market

Built 1980

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Why this score? — see what drove the D+ 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 +17.2/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.4/10.0
• 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

Listing remarks

Condo living cheaper than rent located in East Moline near John Deere Headquarters. The condo is on the lower level and features 2 bedrooms and 2 full bathrooms. It comes with a detached garage. HOA covers all water/sewer, gas/ele in common areas, lawn/snow and garbage.

Key facts

• Garage
• Built 1980
• Listed 17 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $65k.

Deal economics

• At list price, monthly cash flow is $46 ($558/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $64k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.2% 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; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 116 units permitted in Rock Island County in 2024 (50 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k 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.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($64k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $15k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 4.2% of price; HOA is 21% of rent.

Recommended offer $64,025 (1.5% below list)

Questions for the listing agent

1. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 1.69% ✓
• Cap rate: 7.15%
• Cash-on-cash: 3.06%
• DSCR: 1.14
• GRM: 4.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -11.0%
• Equity multiple: 0.60×
• Total profit: $-7,329
• Equity at exit: $9,692

10-year hold

• IRR: -1.2%
• Equity multiple: 0.91×
• Total profit: $-1,581
• Equity at exit: $5,620

Cash invested: $18,200 (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 61244

• Active inventory: 124
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,095 high
• Mortgage (P&I): −$341
• Tax from tax record: −$226 /mo · $2,711/yr
• Insurance: −$27
• HOA est. from 2 same-building comps: −$225
• Vacancy / Maint / Mgmt: −$230
• Net cashflow: $46

Break-even live

Break-even rent $1,037

Max offer price $65,000

Occupancy floor 91%

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4700 7th St East Moline, IL	1.0–2.0	1.0	704	$1,222	$1.73	13d	15	0.47mi
1111 Avenue Of The Cities Unit 4102-1A R East Moline, IL	2.0	1.0	700	$820	$1.17	20d	1	0.62mi
4102 11th St Unit 1111-2D East Moline, IL	2.0	1.0	700	$820	$1.17	20d	1	0.63mi
4102 11th St Unit 4106-1D R East Moline, IL	2.0	1.0	700	$880	$1.26	20d	1	0.63mi
3500 70th St Moline, IL	1.0–2.0	1.0	707	$1,275	$1.80	13d	7	0.65mi
4000 Archer Dr East Moline, IL	2.0–3.0	1.0–1.5	933	$1,195	$1.28	13d	2	0.73mi
2101 7th St Silvis, IL	3.0	1.0–2.5	905	$1,655	$1.83	13d	17	0.96mi
3532 60th St Apt 5 Moline, IL	2.0	1.0	900	$850	$0.94	13d	1	1.26mi
3425 60th St Moline, IL	1.0–2.0	1.0–1.5	937	$1,260	$1.34	13d	6	1.31mi
3341 5th St Unit 1 East Moline, IL	2.0	1.0	850	$1,300	$1.53	20d	1	1.35mi
1810 14th St Silvis, IL	3.0	1.0	1100	$1,300	$1.18	13d	1	1.37mi
3402 56th Street Pl Unit 4 Moline, IL	2.0	1.0	800	$1,350	$1.69	20d	1	1.39mi
5511 34th Ave Fl apartment Moline, IL	2.0	1.0	800	$775	$0.97	20d	1	1.40mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: watersewertrashgas
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 12 events

1. 2026-03-28
   status Pending
2. 2026-03-25
   price $65,000
3. 2026-03-18
   price $74,000
4. 2026-03-11
   listed $80,000 Active
5. 2025-03-13
   historical $850
6. 2025-01-07
   listed $850
7. 2022-04-17
   price $850
8. 2021-08-06
   historical
9. 2007-07-13
   soldstatus $69,900
10. 2005-07-01
    soldstatus $58,500
11. 1999-02-16
    soldstatus $56,500
12. 1998-06-02
    soldstatus $52,500

ⓘ 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: $2,711 · $226/mo
• Projected year-2 tax: $2,711 · $226/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 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: $13,144
• − Mortgage interest: −$3,641
• − Property taxes: −$2,711
• − Insurance: −$325
• − Repairs & maintenance: −$1,052
• − Management: −$1,052
• − HOA: −$2,700
• − Depreciation: −$1,891
• Taxable loss: −$227
• Est. tax savings @ 24.0%: +$54
• After-tax cash flow: $612/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

+23.8% since first listed

12 events — show timeline

• 2026-03-28 Pending — MRED as Distributed by MLS Grid
• 2026-03-25 Price Changed $65,000 MRED as Distributed by MLS Grid
• 2026-03-18 Price Changed $74,000 MRED as Distributed by MLS Grid
• 2026-03-11 Listed $80,000 MRED as Distributed by MLS Grid
• 2025-03-13 Rental Removed $850 APPFOLIO
• 2025-01-07 Listed for Rent $850 APPFOLIO
• 2022-04-17 Price Changed $850 RENT.
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2007-07-13 Sold (Public Records) $69,900 Public Records
• 2005-07-01 Sold (Public Records) $58,500 Public Records
• 1999-02-16 Sold (Public Records) $56,500 Public Records
• 1998-06-02 Sold (Public Records) $52,500 Public Records

Property tax history

+6.3%/yr

Latest (2024): $2,711 · +5.9% YoY. Source: county tax records.