1629-1631 Vermont St · Quincy, IL 62301

$275,000

8 bd · 3.6 ba · 4,450 sqft · MultiFamily · 11 Days on market

Built 1892 Good condition

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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 +26.8/30.0
• DSCR +9.2/10.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Rent growth +5.0/5.0
• Condition / age +3.8/5.0
• Livability +3.4/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

New roof, furnace, Central Air around 2004. Drive on each side. East unit is currently owner occupied. Hardwood floors in East unit. Very spacious. Purchase this property, live in one side and rent other side. Window AC units do not convey

Key facts

• Replaced driveway
• Shared fenced yard
• Replaced front porch

Tags

• FRESHLY REMODELED
• GRANITE AND QUARTZ COUNTERTOPS
• SHARED FENCED YARD
• REPLACED DRIVEWAY
• REPLACED BRICK SIDEWALK
• REPLACED FRONT PORCH

Property features AI

Finance

• Financial info: Unit 1 current rent listed as $2,000; Unit 2 current rent listed as $1,700

Exterior

• Parking: Two parking spaces total; Parking pad; Each unit includes 1 parking space (1 uncovered and 0 covered per unit)
• Utilities: Public water; Public sewer
• Home design: Residential income property (duplex); 2 total dwelling units; Building area approximately 4450; Originally built in 1892
• Construction: Shingle roof
• Exterior features: Level lot

Interior

• Bedrooms: One unit with 4 bedrooms; One unit with 3 bedrooms
• Bathrooms: Unit with 2 full bathrooms; Unit with 1 full bathroom and 1 half bathroom
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Units have individual laundry hook-ups; Crawl space, partial, unfinished basement
• Laundry & utility: Laundry hook-ups in each unit

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/1.8-bath units multifamily listed at $275k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $752 ($9k/yr) — positive. Per door: $376/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $275k).
• Cap rate 9.6% vs local median 4.3% in Quincy — 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 67/100 on livability (#506 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D, employment D, amenities D-.
• Quincy SD 172 (town): math 24% / reading 27% proficiency, ranked #328 of 620 in IL (top 53%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Quincy Sr High School (math 21% / reading 28%, grade F, #256 of 693 statewide, top 44%, 1,924 students, 0% FRL) — zoned schools average 0% FRL vs 48% district-wide (48 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+10.8%/yr); 180 active listings in the ZIP; 68 units permitted in Adams County in 2024 (0 in 5+ unit buildings).
• At $3,358/mo this rent would consume 77% of the median local household income ($52k/yr) (locally 1238% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Adams County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $77k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 18y 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.
• Current owner paid $88k; list at $275k implies a 214% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1892 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $275,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1892 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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: 1.22% ✓
• Cap rate: 9.58%
• Cash-on-cash: 11.73%
• DSCR: 1.52
• GRM: 6.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 6.7%
• Equity multiple: 1.27×
• Total profit: $21,153
• Equity at exit: $41,003

10-year hold

• IRR: 20.1%
• Equity multiple: 3.09×
• Total profit: $161,098
• Equity at exit: $23,777

Cash invested: $77,000 (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 62301

• Rents YoY: 10.8%
• Active inventory: 180
• Price-to-rent: 13.7×

Monthly cashflow live

• Estimated rent: $3,358 medium
• Mortgage (P&I): −$1,442
• Tax est. 1.5%: −$344 /mo · $4,125/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$705
• Net cashflow: $752

Break-even live

Break-even rent $2,406

Max offer price $275,000

Occupancy floor 73%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	4	1.8	$3,358
Total (2 units)			$3,358

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-19
   days on market $275,000 Active 11 DOM
2. 2026-06-18
   days on market $275,000 Active 10 DOM
3. 2026-06-17
   days on market $275,000 Active 9 DOM
4. 2026-06-16
   days on market $275,000 Active 8 DOM
5. 2026-06-15
   days on market $275,000 Active 7 DOM
6. 2026-06-14
   days on market $275,000 Active 5 DOM
7. 2026-06-12
   days on market $275,000 Active 4 DOM
8. 2026-06-09
   remarks 650-char remark
9. 2026-06-09
   listed $275,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $40,296
• − Mortgage interest: −$15,404
• − Property taxes: −$4,125
• − Insurance: −$1,375
• − Repairs & maintenance: −$3,224
• − Management: −$3,224
• − Depreciation: −$8,000
• Taxable income: $4,944
• Est. tax owed @ 24.0%: −$1,187
• After-tax cash flow: $7,842/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.

Condition & rehab AI · 6 photos

Good 75/100 Cosmetic rehab

This well-maintained, recently renovated duplex is move-in ready with good condition and potential for further value enhancement.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value
• Both Replace carpet in bedrooms — Fresh carpet improves comfort and aesthetics
• Both Install new light fixtures — Modernizes interior and enhances curb appeal

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Both Replace carpet in bedrooms — Fresh carpet improves comfort and aesthetics ↑
• Both Install new light fixtures — Modernizes interior and enhances curb appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Quincy SD 172
• NCES district ID: 1733000
• Math proficiency: 24% ▬ 0.00%
• Reading proficiency: 27% ▬ 0.00%
• Median HH income: $44,132
• Composite: 21.91/100
• National rank: #8229
• State rank: #328 of 620 in IL

Livability — Quincy

• Score: 67/100
• State rank: #506
• US rank: #10458

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Quincy, IL
• County: Adams County · 30,746 people
• City population: 30,746
• Metro: Quincy, IL-MO
• Population (ZIP): 30,746
• Household income: $52,055
• Rent vs Own: 41.1% rent · 58.9% own
• Severe rent burden: 1238.0

Population outlook (Adams County) Hauer SSP2

• Today (2025): 65,795 people
• By 2030: 64,436 · -2.1%
• By 2040: 61,007 · -7.3%
• By 2050: 56,851 · -13.6%
• By 2075: 46,424 · -29.4%
• By 2100: 34,305 · -47.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 7% Black 6% Hispanic / Latino 3% Asian 1%
• Common ancestry: Slovak 2% Iranian 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Adams

• 2024 margin: Solid R (+47.4) · D 25.6% · R 73.0% · Other 1.5%
• 2008→2024 swing: -25.0pp toward R · 2008: -22.4pp · 2024: -47.4pp
• All cycles: 2024: R+47.4 2020: R+46.5 2016: R+47.5 2012: R+35.2 2008: R+22.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -121.44%
• Current HPI: 131.7344
• Rent YoY: ▲ 10.78%
• Metro: Quincy, IL-MO
• 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

+189.8% since first listed

10 events — show timeline

• 2026-06-07 Listed $275,000 RMLSA as Distributed by MLS Grid
• 2019-08-16 Sold (MLS) $87,500 MRED as Distributed by MLS Grid
• 2019-08-16 Sold (MLS) $87,500 Quincy AOR
• 2019-04-30 Listed $96,000 MRED as Distributed by MLS Grid
• 2019-04-30 Listed $96,000 Quincy AOR
• 2010-04-27 Listing Removed — MRED as Distributed by MLS Grid
• 2008-10-22 Sold (MLS) $86,000 MRED as Distributed by MLS Grid
• 2008-10-22 Sold (MLS) $86,000 RMLSA as Distributed by MLS Grid
• 2008-07-22 Listed $94,900 MRED as Distributed by MLS Grid
• 2008-07-22 Listed $94,900 RMLSA as Distributed by MLS Grid