1120 S Main St · Carrollton, IL 62016

$85,000

3 bd · 1.0 ba · 1,072 sqft · Other · 272 Days on market

Built 1927 10,798 sqft lot $79/sqft · 26% below area Est $114k · 26% 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 +24.7/30.0
• ARV discount +15.0/15.0
• DSCR +8.0/10.0
• 1% rule +6.8/10.0
• Appreciation +6.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Listing remarks MLS

This charming 3 bedroom, with recent updates, 1 bath, home offers comfort, functionality, and charm. The enclosed entryway/front porch provides a cozy space to relax year-round, while the spacious laundry/mud room adds everyday convenience. A versatile bonus room is perfect for a home office, playroom or guest space. Enjoy outdoor living with a fully fenced yard and detached 24x24 garage - ideal for storage or a workshop. Property is being sold AS-IS.

Key facts

• Enclosed entryway
• Versatile bonus room
• Fully fenced yard

Tags

• ENCLOSED ENTRYWAY
• SPACIOUS LAUNDRY ROOM
• VERSATILE BONUS ROOM
• FULLY FENCED YARD
• DETACHED GARAGE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $85k.

Deal economics

• At list price, monthly cash flow is $178 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $75k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#677 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D, amenities F, commute F.
• Carrollton CUSD 1 (rural): math 29% / reading 25% proficiency, ranked #288 of 620 in IL (top 46%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 18 active listings in the ZIP; 1 units permitted in Greene County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($588 loan paydown + $3k appreciation (3.1% local appreciation)).
• Greene County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.1% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 272 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $13k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $48k; list at $85k implies a 77% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $74,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 272 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 1927 — 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 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?
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: 1.18% ✓
• Cap rate: 8.81%
• Cash-on-cash: 9.00%
• DSCR: 1.40
• GRM: 7.1

CMA / ARV

• ARV (median comp): $114,172
• List price: $85,000
• Delta: -25.55%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

3.09% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.2%
• Equity multiple: 1.93×
• Total profit: $22,041
• Equity at exit: $38,649

10-year hold

• IRR: 17.7%
• Equity multiple: 3.61×
• Total profit: $62,087
• Equity at exit: $59,899

Cash invested: $23,800 (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 62016

• Home prices YoY: 2.0%
• Active inventory: 18
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,000 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$130 /mo · $1,561/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$210
• Net cashflow: $178

Break-even live

Break-even rent $774

Max offer price $85,000

Occupancy floor 77%

Sensitivity live

Price	-10% $227	-5% $203	+0% $178	+5% $154	+10% $130
Rent	-10% $100	-5% $139	+0% $178	+5% $218	+10% $257
Rate	-1.0pp $221	-0.5pp $200	base $178	+0.5pp $156	+1.0pp $134

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-21
   days on market $85,000 Active 272 DOM
2. 2026-06-21
   days on market $85,000 Active 271 DOM
3. 2026-06-18
   days on market $85,000 Active 269 DOM
4. 2026-06-17
   days on market $85,000 Active 268 DOM
5. 2026-06-16
   days on market $85,000 Active 267 DOM
6. 2026-06-15
   days on market $85,000 Active 266 DOM
7. 2026-06-13
   days on market $85,000 Active 264 DOM
8. 2026-06-12
   days on market $85,000 Active 263 DOM
9. 2026-06-09
   days on market $85,000 Active 260 DOM
10. 2026-06-08
    days on market $85,000 Active 259 DOM
11. 2026-06-07
    days on market $85,000 Active 258 DOM
12. 2026-06-04
    days on market $85,000 Active 254 DOM
13. 2026-06-02
    days on market $85,000 Active 253 DOM
14. 2026-06-01
    days on market $85,000 Active 252 DOM
15. 2026-05-31
    days on market $85,000 Active 251 DOM
16. 2026-05-31
    days on market $85,000 Active 250 DOM
17. 2026-04-26
    status Active 455-char remark

    Show marketing remark (455 chars)

    This charming 3 bedroom, with recent updates, 1 bath, home offers comfort, functionality, and charm. The enclosed entryway/front porch provides a cozy space to relax year-round, while the spacious laundry/mud room adds everyday convenience. A versatile bonus room is perfect for a home office, playroom or guest space. Enjoy outdoor living with a fully fenced yard and detached 24x24 garage - ideal for storage or a workshop. Property is being sold AS-IS.

18. 2026-04-12
    historical Active Under Contract 455-char remark

    Show marketing remark (455 chars)

    This charming 3 bedroom, with recent updates, 1 bath, home offers comfort, functionality, and charm. The enclosed entryway/front porch provides a cozy space to relax year-round, while the spacious laundry/mud room adds everyday convenience. A versatile bonus room is perfect for a home office, playroom or guest space. Enjoy outdoor living with a fully fenced yard and detached 24x24 garage - ideal for storage or a workshop. Property is being sold AS-IS.

19. 2025-12-17
    price $85,000 455-char remark

    Show marketing remark (455 chars)

    This charming 3 bedroom, with recent updates, 1 bath, home offers comfort, functionality, and charm. The enclosed entryway/front porch provides a cozy space to relax year-round, while the spacious laundry/mud room adds everyday convenience. A versatile bonus room is perfect for a home office, playroom or guest space. Enjoy outdoor living with a fully fenced yard and detached 24x24 garage - ideal for storage or a workshop. Property is being sold AS-IS.

20. 2025-11-15
    price $90,000 455-char remark

    Show marketing remark (455 chars)

    This charming 3 bedroom, with recent updates, 1 bath, home offers comfort, functionality, and charm. The enclosed entryway/front porch provides a cozy space to relax year-round, while the spacious laundry/mud room adds everyday convenience. A versatile bonus room is perfect for a home office, playroom or guest space. Enjoy outdoor living with a fully fenced yard and detached 24x24 garage - ideal for storage or a workshop. Property is being sold AS-IS.

21. 2025-10-23
    price $95,000 455-char remark

    Show marketing remark (455 chars)

    This charming 3 bedroom, with recent updates, 1 bath, home offers comfort, functionality, and charm. The enclosed entryway/front porch provides a cozy space to relax year-round, while the spacious laundry/mud room adds everyday convenience. A versatile bonus room is perfect for a home office, playroom or guest space. Enjoy outdoor living with a fully fenced yard and detached 24x24 garage - ideal for storage or a workshop. Property is being sold AS-IS.

22. 2025-09-22
    listed $98,000 Active 455-char remark

    Show marketing remark (455 chars)

    This charming 3 bedroom, with recent updates, 1 bath, home offers comfort, functionality, and charm. The enclosed entryway/front porch provides a cozy space to relax year-round, while the spacious laundry/mud room adds everyday convenience. A versatile bonus room is perfect for a home office, playroom or guest space. Enjoy outdoor living with a fully fenced yard and detached 24x24 garage - ideal for storage or a workshop. Property is being sold AS-IS.

23. 2023-02-22
    status Pending 903-char remark

    Show marketing remark (903 chars)

    Property is being sold AS-IS!! No repairs will be made by Seller. This 3 bedroom 1 bath home would make someone a great starter home. It is located on a dead end street with alley access to the nice 24x24 shed with 2 garage doors for your vehicles and room for a workshop. The main level of the home had new flooring installed a few years ago. The main floor has 1 bedroom with 2 nice closets and plenty of storage space, the bathroom is located directly off the main floor bedrooom and contains a stand up shower. The living room/dining area has plenty of room for family get togethers. The kitchen is roomy yet quaint and has a built-in bookcase/shelving. The bonus room is on the front of the house and has been insulated and new flooring installed there as well. The 2 upstairs bedrooms have original wood flooring and plenty of closet space. Come take a look at this cute home and make it your own.

24. 2023-02-21
    soldstatus Closed 903-char remark

    Show marketing remark (903 chars)

    Property is being sold AS-IS!! No repairs will be made by Seller. This 3 bedroom 1 bath home would make someone a great starter home. It is located on a dead end street with alley access to the nice 24x24 shed with 2 garage doors for your vehicles and room for a workshop. The main level of the home had new flooring installed a few years ago. The main floor has 1 bedroom with 2 nice closets and plenty of storage space, the bathroom is located directly off the main floor bedrooom and contains a stand up shower. The living room/dining area has plenty of room for family get togethers. The kitchen is roomy yet quaint and has a built-in bookcase/shelving. The bonus room is on the front of the house and has been insulated and new flooring installed there as well. The 2 upstairs bedrooms have original wood flooring and plenty of closet space. Come take a look at this cute home and make it your own.

25. 2023-01-11
    historical Active Under Contract 903-char remark

    Show marketing remark (903 chars)

    Property is being sold AS-IS!! No repairs will be made by Seller. This 3 bedroom 1 bath home would make someone a great starter home. It is located on a dead end street with alley access to the nice 24x24 shed with 2 garage doors for your vehicles and room for a workshop. The main level of the home had new flooring installed a few years ago. The main floor has 1 bedroom with 2 nice closets and plenty of storage space, the bathroom is located directly off the main floor bedrooom and contains a stand up shower. The living room/dining area has plenty of room for family get togethers. The kitchen is roomy yet quaint and has a built-in bookcase/shelving. The bonus room is on the front of the house and has been insulated and new flooring installed there as well. The 2 upstairs bedrooms have original wood flooring and plenty of closet space. Come take a look at this cute home and make it your own.

26. 2022-11-30
    listed $89,900 Active 903-char remark

    Show marketing remark (903 chars)

    Property is being sold AS-IS!! No repairs will be made by Seller. This 3 bedroom 1 bath home would make someone a great starter home. It is located on a dead end street with alley access to the nice 24x24 shed with 2 garage doors for your vehicles and room for a workshop. The main level of the home had new flooring installed a few years ago. The main floor has 1 bedroom with 2 nice closets and plenty of storage space, the bathroom is located directly off the main floor bedrooom and contains a stand up shower. The living room/dining area has plenty of room for family get togethers. The kitchen is roomy yet quaint and has a built-in bookcase/shelving. The bonus room is on the front of the house and has been insulated and new flooring installed there as well. The 2 upstairs bedrooms have original wood flooring and plenty of closet space. Come take a look at this cute home and make it your own.

27. 2011-11-04
    soldstatus $48,000

ⓘ 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: $1,561 · $130/mo
• Projected year-2 tax: $1,745 · $145/mo
• Expected delta: +$184/yr (+$15/mo · 11.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥106°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,996
• − Mortgage interest: −$4,761
• − Property taxes: −$1,561
• − Insurance: −$425
• − Repairs & maintenance: −$960
• − Management: −$960
• − Depreciation: −$2,473
• Taxable income: $857
• Est. tax owed @ 24.0%: −$206
• After-tax cash flow: $1,936/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: Carrollton CUSD 1
• NCES district ID: 1708610
• Math proficiency: 29% ▲ 5.00%
• Reading proficiency: 25% ▬ 0.00%
• Median HH income: $47,358
• Composite: 23.49/100
• National rank: #7872
• State rank: #288 of 620 in IL

Livability — Carrollton

• Score: 64/100
• State rank: #677
• US rank: #13841

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Carrollton, IL
• City population: 3,650
• Population (ZIP): 3,650

Population outlook (Greene County) Hauer SSP2

• Today (2025): 12,137 people
• By 2030: 11,467 · -5.5%
• By 2040: 10,117 · -16.6%
• By 2050: 8,804 · -27.5%
• By 2075: 6,187 · -49.0%
• By 2100: 4,175 · -65.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Lithuanian 2% Italian 1% Iranian 1%
• Foreign-born: 0%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Greene

• 2024 margin: Solid R (+57.8) · D 20.1% · R 78.0% · Other 1.9%
• 2008→2024 swing: -50.3pp toward R · 2008: -7.5pp · 2024: -57.8pp
• All cycles: 2024: R+57.8 2020: R+54.9 2016: R+53.0 2012: R+25.4 2008: R+7.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.09%
• Current HPI: 158.4231
• 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

+77.1% since first listed

11 events — show timeline

• 2026-04-26 Relisted — MARIS as Distributed by MLS Grid
• 2026-04-12 Contingent — MARIS as Distributed by MLS Grid
• 2025-12-17 Price Changed $85,000 MARIS as Distributed by MLS Grid
• 2025-11-15 Price Changed $90,000 MARIS as Distributed by MLS Grid
• 2025-10-23 Price Changed $95,000 MARIS as Distributed by MLS Grid
• 2025-09-22 Listed $98,000 MARIS as Distributed by MLS Grid
• 2023-02-22 Pending — MARIS as Distributed by MLS Grid
• 2023-02-21 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2023-01-11 Contingent — MARIS as Distributed by MLS Grid
• 2022-11-30 Listed $89,900 MARIS as Distributed by MLS Grid
• 2011-11-04 Sold (Public Records) $48,000 Public Records

Property tax history

+1.7%/yr

Latest (2024): $1,561 · +2.4% YoY. Source: county tax records.