808 E Independence St · Jacksonville, IL 62650

$49,900

1 bd · 1.0 ba · 988 sqft · SingleFamily · 1 Days on market

Built 1930 1.61 ac lot Est $58k · 14% under

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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
• ARV discount +14.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks

2.4 acres in a nice quiet piece of Jacksonville. Investors welcome to rehab the house for rental. The lots would be a great place for a mobile home/modular home/manufactured home. The shop has electric and water. Garage was used for a shop. Metal shed will stay. Selling as-is.

Key facts

• Electric and water
• Metal shed
• Mobile home

Tags

• 2.4 ACRES
• QUIET PIECE
• MOBILE HOME
• ELECTRIC AND WATER
• METAL SHED

Property features AI

Finance

• Other: MLS area: Jacksonville Northeast; Active listing status

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer; Natural gas (heating uses gas water heater)
• Home design: Single-family residence; Living area/building area approximately 988; Built in 1930
• Construction: Shingle roof; Not new construction
• Exterior features: Level lot; Shed(s) / outbuilding; Lot dimensions approximately 140 x 500

Interior

• Kitchen: Kitchen on main level (approx. 13 x 11)
• Bedrooms: One bedroom on the main level (approx. 13 x 11) with egress window
• Flooring: Carpet in bedroom and living room; Hardwood in dining room; Laminate in kitchen; Other flooring in an additional room off kitchen
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Full, unfinished basement; No built-in appliances listed; No fireplaces
• Laundry & utility: Gas water heater noted as part of heating

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $298 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($765 rent vs $50k).
• Cap rate 13.5% vs local median 5.4% in Jacksonville — 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 76/100 on livability (#187 in IL, #3,543 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, amenities C-, schools D.
• Jacksonville SD 117 (town): math 20% / reading 23% proficiency, ranked #407 of 620 in IL (top 66%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 141 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 3 units permitted in Morgan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $345 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Morgan County population projected at -20% 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 $14k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $34k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $49,900

Questions for the listing agent

1. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.53% ✓
• Cap rate: 13.47%
• Cash-on-cash: 25.63%
• DSCR: 2.14
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $58,292
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
631 Myrtle St	0.11mi	2/1.0 (+1)	1,010 (+2%)	11mo	$77,000	$76	78
118 Spaulding Pl	0.65mi	2/1.0 (+1)	912 (-8%)	3mo	$69,900	$77	50
728 N East St	0.51mi	1/1.0	1,134 (+15%)	8mo	$1,000	$1	45
509 E Douglas Ave	0.52mi	2/1.0 (+1)	864 (-13%)	6mo	$34,900	$40	45
324 E Lafayette Ave	0.53mi	2/1.0 (+1)	1,045 (+6%)	19mo	$61,900	$59	45

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: 19.2%
• Equity multiple: 1.78×
• Total profit: $10,910
• Equity at exit: $7,440

10-year hold

• IRR: 27.5%
• Equity multiple: 3.43×
• Total profit: $33,925
• Equity at exit: $4,314

Cash invested: $13,972 (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 62650

• Active inventory: 141
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $765 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$23 /mo · $280/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$161
• Net cashflow: $298

Break-even live

Break-even rent $387

Max offer price $49,900

Occupancy floor 56%

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
800 Illinois Ave Jacksonville, IL	1.0	1.0	625	$700	$1.12	44d	1	0.18mi
328 E State St Unit 2 Jacksonville, IL	—	1.0	750	$975	$1.30	44d	1	0.70mi

Listing history 2 events

1. 2026-06-18
   remarks 277-char remark
2. 2026-06-18
   listed $49,900 Active 1 DOM

ⓘ 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: $280 · $23/mo
• Projected year-2 tax: $706 · $59/mo
• Expected delta: +$426/yr (+$36/mo · 152.2%)

ⓘ 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 4/10 Moderate 7 d/yr ≥106°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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,179
• − Mortgage interest: −$2,795
• − Property taxes: −$280
• − Insurance: −$250
• − Repairs & maintenance: −$734
• − Management: −$734
• − Depreciation: −$1,452
• Taxable income: $2,934
• Est. tax owed @ 24.0%: −$704
• After-tax cash flow: $2,877/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: Jacksonville SD 117
• NCES district ID: 1720280
• Math proficiency: 20% ▼ -3.00%
• Reading proficiency: 23% ▼ -6.00%
• Median HH income: $44,909
• Composite: 18.66/100
• National rank: #8888
• State rank: #407 of 620 in IL

Livability — Jacksonville

• Score: 76/100
• State rank: #187
• US rank: #3543

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Jacksonville, IL
• City population: 24,318
• Population (ZIP): 24,318

Population outlook (Morgan County) Hauer SSP2

• Today (2025): 32,874 people
• By 2030: 31,698 · -3.6%
• By 2040: 29,050 · -11.6%
• By 2050: 26,381 · -19.8%
• By 2075: 20,235 · -38.4%
• By 2100: 14,324 · -56.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Black 7% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Lithuanian 2% Slovak 1% Iranian 1%
• Foreign-born: 1% · Canada, South Korea
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Morgan

• 2024 margin: Solid R (+32.5) · D 33.1% · R 65.6% · Other 1.3%
• 2008→2024 swing: -31.7pp toward R · 2008: -0.8pp · 2024: -32.5pp
• All cycles: 2024: R+32.5 2020: R+31.8 2016: R+29.9 2012: R+15.4 2008: R+0.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -84.33%
• Current HPI: 126.5712
• 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

+46.8% since first listed

2 events — show timeline

• 2026-06-17 Listed $49,900 RMLSA as Distributed by MLS Grid
• 2001-07-13 Sold (Public Records) $34,000 Public Records

Property tax history

-11.3%/yr

Latest (2025): $280 · -56.4% YoY. Source: county tax records.