508 S Main St · Abingdon, IL 61410

$45,000

3 bd · 1.0 ba · 768 sqft · Other public records · 75 Days on market

Built 1890 0.28 ac lot $59/sqft · at area comps Est $77k · 41% under ↓ 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 +28.9/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Don't miss your chance to build instant equity in this 3-bedroom, 1-bathroom home with serious potential. Sitting on a generous fenced-in lot, this property offers the space and bones investors and savvy buyers dream about — at a price that leaves plenty of room for your vision. The large backyard is a standout feature, fully fenced and ready for entertaining, gardening, or simply enjoying your own private outdoor retreat. Inside, the layout is solid and functional — bring your contractor and your creativity, and transform this diamond in the rough into the home or investment property you've been looking for. With some updating to systems and fixtures, this home will truly shine. Whether you're a first-time buyer looking to build sweat equity or an investor seeking your next profitable project, this one checks all the boxes.

Key facts

• 0.28 acre lot
• 2 garage spots
• Built 1890

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $45k.

Deal economics

• At list price, monthly cash flow is $152 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($736 rent vs $45k).
• Recommended offer: $42k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#976 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: amenities F, commute F, employment F.
• Zoned schools: Abingdon-Avon Middle Sch (math 8% / reading 22%, grade F, #510 of 665 statewide, top 78%, 200 students, 0% FRL); Abingdon-Avon High Sch (math 8% / reading 22%, grade F, #473 of 693 statewide, top 69%, 285 students, 0% FRL).
• Market conditions: 13 active listings in the ZIP; 1 comparable units currently listed for rent nearby.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $311 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Knox County population projected at -19% 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 $13k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 75 days — a 6% lower offer ($42k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 21y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: property tax is 4.7% of price; built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $42,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 75 days. Have you received any prior offers? Is the seller open to a 6% 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. 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 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: 1.64% ✓
• Cap rate: 10.35%
• Cash-on-cash: 14.48%
• DSCR: 1.64
• GRM: 5.1

CMA / ARV

• ARV (median comp): $76,824
• List price: $45,000
• Delta: -41.42%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 5.1%
• Equity multiple: 1.20×
• Total profit: $2,477
• Equity at exit: $6,710

10-year hold

• IRR: 14.6%
• Equity multiple: 2.19×
• Total profit: $14,969
• Equity at exit: $3,891

Cash invested: $12,600 (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 61410

• Home prices YoY: -25.1%
• Active inventory: 13
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $736 medium
• Mortgage (P&I): −$236
• Tax from tax record: −$175 /mo · $2,096/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$155
• Net cashflow: $152

Break-even live

Break-even rent $544

Max offer price $45,000

Occupancy floor 74%

Sensitivity live

Price	-10% $302	-5% $165	+0% $152	+5% $139	+10% $127
Rent	-10% $94	-5% $123	+0% $152	+5% $181	+10% $210
Rate	-1.0pp $175	-0.5pp $164	base $152	+0.5pp $140	+1.0pp $129

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
109 E Jackson St Abingdon, IL	2.0	1.0	576	$736	$1.28	45d	1	0.36mi

Listing history 29 events

1. 2026-06-22
   days on market $45,000 Active 75 DOM
2. 2026-06-21
   days on market $45,000 Active 74 DOM
3. 2026-06-21
   days on market $45,000 Active 73 DOM
4. 2026-06-18
   days on market $45,000 Active 71 DOM
5. 2026-06-17
   days on market $45,000 Active 70 DOM
6. 2026-06-16
   days on market $45,000 Active 69 DOM
7. 2026-06-15
   days on market $45,000 Active 68 DOM
8. 2026-06-13
   days on market $45,000 Active 66 DOM
9. 2026-06-12
   days on market $45,000 Active 65 DOM
10. 2026-06-09
    days on market $45,000 Active 62 DOM
11. 2026-06-08
    days on market $45,000 Active 61 DOM
12. 2026-06-07
    days on market $45,000 Active 60 DOM
13. 2026-06-07
    days on market $45,000 Active 59 DOM
14. 2026-06-04
    days on market $45,000 Active 56 DOM
15. 2026-06-02
    days on market $45,000 Active 55 DOM
16. 2026-06-01
    days on market $45,000 Active 54 DOM
17. 2026-05-31
    days on market $45,000 Active 53 DOM
18. 2026-05-31
    days on market $45,000 Active 52 DOM
19. 2026-04-08
    listed $45,000 Active 848-char remark

    Show marketing remark (848 chars)

    Don't miss your chance to build instant equity in this 3-bedroom, 1-bathroom home with serious potential. Sitting on a generous fenced-in lot, this property offers the space and bones investors and savvy buyers dream about — at a price that leaves plenty of room for your vision. The large backyard is a standout feature, fully fenced and ready for entertaining, gardening, or simply enjoying your own private outdoor retreat. Inside, the layout is solid and functional — bring your contractor and your creativity, and transform this diamond in the rough into the home or investment property you've been looking for. With some updating to systems and fixtures, this home will truly shine. Whether you're a first-time buyer looking to build sweat equity or an investor seeking your next profitable project, this one checks all the boxes.

20. 2025-05-20
    status Active
21. 2025-05-20
    historical
22. 2025-05-20
    historical
23. 2025-05-15
    historical
24. 2025-02-27
    price
25. 2024-11-20
    listed Active
26. 2022-06-13
    soldstatus $47,500
27. 2021-08-06
    historical
28. 2005-04-06
    soldstatus $58,000
29. 2005-02-16
    listed $59,900

ⓘ 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: $2,096 · $175/mo
• Projected year-2 tax: $2,096 · $175/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: $8,832
• − Mortgage interest: −$2,521
• − Property taxes: −$2,096
• − Insurance: −$225
• − Repairs & maintenance: −$707
• − Management: −$707
• − Depreciation: −$1,309
• Taxable income: $1,268
• Est. tax owed @ 24.0%: −$304
• After-tax cash flow: $1,520/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)

No district data.

Livability — Abingdon

• Score: 60/100
• State rank: #976
• US rank: #18884

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Abingdon, IL
• Population (ZIP): 3,763

Population outlook (Knox County) Hauer SSP2

• Today (2025): 48,224 people
• By 2030: 46,333 · -3.9%
• By 2040: 42,424 · -12.0%
• By 2050: 38,929 · -19.3%
• By 2075: 31,523 · -34.6%
• By 2100: 24,092 · -50.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 5% Two or more races 2% Black 1%
• Common ancestry: Slovak 6% Italian 1% English 1%
• Foreign-born: 0%

Political lean MEDSL · Knox

• 2024 margin: Lean R (+9.4) · D 44.4% · R 53.7% · Other 1.9%
• 2008→2024 swing: -29.3pp toward R · 2008: 19.9pp · 2024: -9.4pp
• All cycles: 2024: R+9.4 2020: R+5.6 2016: R+3.3 2012: D+17.1 2008: D+19.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -51.79%
• Current HPI: 154.296
• 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

-24.9% since first listed

11 events — show timeline

• 2026-04-08 Listed $45,000 RMLSA as Distributed by MLS Grid
• 2025-05-20 Relisted — RMLSA as Distributed by MLS Grid
• 2025-05-20 Listing Removed — MRED as Distributed by MLS Grid
• 2025-05-20 Listing Removed — RMLSA as Distributed by MLS Grid
• 2025-05-15 Listing Removed — RMLSA as Distributed by MLS Grid
• 2025-02-27 Price Changed — RMLSA as Distributed by MLS Grid
• 2024-11-20 Listed — RMLSA as Distributed by MLS Grid
• 2022-06-13 Sold (Public Records) $47,500 Public Records
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2005-04-06 Sold (MLS) $58,000 RMLSA as Distributed by MLS Grid
• 2005-02-16 Listed $59,900 RMLSA as Distributed by MLS Grid

Property tax history

+2.8%/yr

Latest (2024): $2,096 · +6.7% YoY. Source: county tax records.