223 Montgomery St · Niantic, IL 62551

$48,500

3 bd · 1.0 ba · 880 sqft · Other public records · 159 Days on market

Built 1890 0.28 ac lot $55/sqft · 42% below area ↓ 25% since listing

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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
• ARV discount +7.5/15.0
• Appreciation +5.8/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0

Listing remarks MLS

Spacious home located in Niantic far west on Montgomery St. Whether you are just wanting the small town feeling or looking for a quality investment opportunity, this is for your. 3 bedrooms and 2 full bathrooms, plus a bonus room on the main floor and an enclosed porch area. Parking in both front and back. Siding, roof, subfloor and flooring new in 2024.

Key facts

• New siding
• New flooring
• Bonus room

Tags

• BONUS ROOM
• ENCLOSED PORCH
• NEW SIDING
• NEW ROOF
• NEW SUBFLOOR
• NEW FLOORING

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $48k.

Deal economics

• At list price, monthly cash flow is $306 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($953 rent vs $48k).
• Recommended offer: $43k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 59/100 on livability (#1,038 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: employment D, schools D-, crime D-.
• Sangamon Valley CUSD 9 (rural): math 10% / reading 27% proficiency, ranked #432 of 620 in IL (top 70%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 5 active listings in the ZIP; 63 units permitted in Macon County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($335 loan paydown + $752 appreciation (1.6% local appreciation)).
• Macon County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.6% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 159 days — a 12% lower offer ($43k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $16k (25%) 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; built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $42,680 (12.0% below list)

Questions for the listing agent

1. It's been on market 159 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 1890 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. Crime grade is D 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?
8. 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.
9. 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.
10. 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: 1.96% ✓
• Cap rate: 13.87%
• Cash-on-cash: 27.08%
• DSCR: 2.20
• GRM: 4.2

CMA / ARV

• ARV (median comp): $152,639
• List price: $48,500
• Delta: -68.23%
• Verdict: UNDERPRICED
• Comps: 16 within 1.0 mi

Projected returns pro-forma

1.55% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 30.5%
• Equity multiple: 2.61×
• Total profit: $21,825
• Equity at exit: $17,961

10-year hold

• IRR: 32.4%
• Equity multiple: 5.07×
• Total profit: $55,240
• Equity at exit: $24,994

Cash invested: $13,580 (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 62551

• Home prices YoY: 1.1%
• Active inventory: 5
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $953 medium
• Mortgage (P&I): −$254
• Tax from tax record: −$172 /mo · $2,060/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$200
• Net cashflow: $306

Break-even live

Break-even rent $565

Max offer price $48,500

Occupancy floor 63%

Sensitivity live

Price	-10% $334	-5% $320	+0% $306	+5% $293	+10% $279
Rent	-10% $231	-5% $269	+0% $306	+5% $344	+10% $382
Rate	-1.0pp $331	-0.5pp $319	base $306	+0.5pp $294	+1.0pp $281

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: $12,125
• Closing costs: $1,455
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $48,500 Active 159 DOM
2. 2026-06-19
   days on market $48,500 Active 157 DOM
3. 2026-06-18
   days on market $48,500 Active 156 DOM
4. 2026-06-17
   days on market $48,500 Active 155 DOM
5. 2026-06-16
   days on market $48,500 Active 154 DOM
6. 2026-06-15
   days on market $48,500 Active 153 DOM
7. 2026-06-14
   days on market $48,500 Active 151 DOM
8. 2026-06-13
   days on market $48,500 Active 150 DOM
9. 2026-06-10
   days on market $48,500 Active 148 DOM
10. 2026-06-09
    days on market $48,500 Active 147 DOM
11. 2026-06-08
    days on market $48,500 Active 146 DOM
12. 2026-06-07
    days on market $48,500 Active 145 DOM
13. 2026-06-05
    days on market $48,500 Active 142 DOM
14. 2026-06-02
    days on market $48,500 Active 140 DOM
15. 2026-06-01
    days on market $48,500 Active 139 DOM
16. 2026-06-01
    days on market $48,500 Active 138 DOM
17. 2026-05-30
    days on market $48,500 Active 137 DOM
18. 2026-05-16
    price $48,500 357-char remark

    Show marketing remark (357 chars)

    Spacious home located in Niantic far west on Montgomery St. Whether you are just wanting the small town feeling or looking for a quality investment opportunity, this is for your. 3 bedrooms and 2 full bathrooms, plus a bonus room on the main floor and an enclosed porch area. Parking in both front and back. Siding, roof, subfloor and flooring new in 2024.

19. 2026-05-05
    status Active 357-char remark

    Show marketing remark (357 chars)

    Spacious home located in Niantic far west on Montgomery St. Whether you are just wanting the small town feeling or looking for a quality investment opportunity, this is for your. 3 bedrooms and 2 full bathrooms, plus a bonus room on the main floor and an enclosed porch area. Parking in both front and back. Siding, roof, subfloor and flooring new in 2024.

20. 2026-04-07
    price $52,500 357-char remark

    Show marketing remark (357 chars)

    Spacious home located in Niantic far west on Montgomery St. Whether you are just wanting the small town feeling or looking for a quality investment opportunity, this is for your. 3 bedrooms and 2 full bathrooms, plus a bonus room on the main floor and an enclosed porch area. Parking in both front and back. Siding, roof, subfloor and flooring new in 2024.

21. 2026-02-03
    price $60,000 357-char remark

    Show marketing remark (357 chars)

    Spacious home located in Niantic far west on Montgomery St. Whether you are just wanting the small town feeling or looking for a quality investment opportunity, this is for your. 3 bedrooms and 2 full bathrooms, plus a bonus room on the main floor and an enclosed porch area. Parking in both front and back. Siding, roof, subfloor and flooring new in 2024.

22. 2026-01-08
    listed $65,000 Active 357-char remark

    Show marketing remark (357 chars)

    Spacious home located in Niantic far west on Montgomery St. Whether you are just wanting the small town feeling or looking for a quality investment opportunity, this is for your. 3 bedrooms and 2 full bathrooms, plus a bonus room on the main floor and an enclosed porch area. Parking in both front and back. Siding, roof, subfloor and flooring new in 2024.

ⓘ 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: $2,060 · $172/mo
• Projected year-2 tax: $2,060 · $172/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 ≥105°F today · 19 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: $11,432
• − Mortgage interest: −$2,717
• − Property taxes: −$2,060
• − Insurance: −$242
• − Repairs & maintenance: −$915
• − Management: −$915
• − Depreciation: −$1,411
• Taxable income: $3,173
• Est. tax owed @ 24.0%: −$762
• After-tax cash flow: $2,915/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: Sangamon Valley CUSD 9
• NCES district ID: 1700324
• Math proficiency: 10% ▼ -16.00%
• Reading proficiency: 27% ▼ -26.00%
• Median HH income: $57,341
• Composite: 17.31/100
• National rank: #9084
• State rank: #432 of 620 in IL

Livability — Niantic

• Score: 59/100
• State rank: #1038
• US rank: #19875

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Niantic, IL
• Population (ZIP): 908

Population outlook (Macon County) Hauer SSP2

• Today (2025): 99,568 people
• By 2030: 94,973 · -4.6%
• By 2040: 85,250 · -14.4%
• By 2050: 75,920 · -23.8%
• By 2075: 55,962 · -43.8%
• By 2100: 36,468 · -63.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 15% Hispanic / Latino 10%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Slovak 4% Serbian 2% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 92% English-only · Spanish 8% Other Indo-European 1%

Political lean MEDSL · Macon

• 2024 margin: R (+18.9) · D 39.8% · R 58.7% · Other 1.4%
• 2008→2024 swing: -20.0pp toward R · 2008: 1.1pp · 2024: -18.9pp
• All cycles: 2024: R+18.9 2020: R+17.7 2016: R+18.1 2012: R+5.2 2008: D+1.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.55%
• Current HPI: 143.4612
• 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

-25.4% since first listed

5 events — show timeline

• 2026-05-16 Price Changed $48,500 CIBR
• 2026-05-05 Relisted — CIBR
• 2026-04-07 Price Changed $52,500 CIBR
• 2026-02-03 Price Changed $60,000 CIBR
• 2026-01-08 Listed $65,000 CIBR

Property tax history

+10.5%/yr

Latest (2024): $2,060 · +5.0% YoY. Source: county tax records.