511 SE 4th St · Fairfield, IL 62837

$69,900

3 bd · 1.0 ba · 1,930 sqft · SingleFamily · 155 Days on market

Built 1935 5,000 sqft lot

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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 +7.5/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0

Listing remarks

3 Bedroom, 1 Bath 1.5-Story Home with Full Basement - Great Potential This 3 bedroom, 1 bath, 1.5-story home offers a solid opportunity for a homeowner or investor. The home features a full basement, large living room, and informal dining area, with some original hardwood floors adding character. Two enclosed back porches provide additional usable space, and the alley access in the rear allows for convenient entry and parking options. Recent updates include an HVAC system approximately 2 years old, siding about 7 years old, and a roof estimated at 12 years old. With a little TLC, this property has the potential to be a wonderful home or a smart investment. Inspections are welcome, property

Key facts

• Alley access
• Roof
• Full basement

Tags

• FULL BASEMENT
• ENCLOSED BACK PORCHES
• ALLEY ACCESS
• HVAC SYSTEM
• SIDING
• ROOF

Property features AI

Exterior

• Parking: Alley access
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; 1.5-story design; Built before 1978 (older home, approximately 81–90 years old)
• Construction: Vinyl siding with frame construction; Concrete perimeter foundation
• Exterior features: Front porch

Interior

• Kitchen: Island kitchen; Dishwasher; Range; Refrigerator
• Bedrooms: 3 bedrooms (Master, two additional bedrooms; two on the main level, one on the second floor)
• Flooring: Laminate flooring in multiple main-level rooms; Hardwood flooring in living room and one upstairs bedroom; Vinyl flooring in kitchen
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Window treatments
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $479 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $62k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#408 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, crime F, amenities F.
• Fairfield Comm H S District 225 (town): math 15% / reading 25% proficiency, ranked #725 of 919 in IL (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Fairfield Comm High School (math 12% / reading 22%, grade F, #430 of 693 statewide, top 66%, 449 students, 0% FRL).
• Market conditions: 7 active listings in the ZIP.

Forward outlook

• In year one you build about $4k of equity ($483 loan paydown + $4k appreciation (5.1% local appreciation)).
• Wayne County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.1% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 8, 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 155 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts 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: built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $61,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 155 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 1935 — 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. Crime grade is F 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 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: 1.61% ✓
• Cap rate: 14.51%
• Cash-on-cash: 29.36%
• DSCR: 2.31
• GRM: 5.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.07% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 38.7%
• Equity multiple: 3.39×
• Total profit: $46,854
• Equity at exit: $39,905

10-year hold

• IRR: 36.8%
• Equity multiple: 6.88×
• Total profit: $115,105
• Equity at exit: $69,116

Cash invested: $19,572 (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 62837

• Home prices YoY: 4.4%
• Active inventory: 7
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,123 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$13 /mo · $154/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$236
• Net cashflow: $479

Break-even live

Break-even rent $517

Max offer price $69,900

Occupancy floor 52%

Sensitivity live

Price	-10% $518	-5% $499	+0% $479	+5% $459	+10% $439
Rent	-10% $390	-5% $434	+0% $479	+5% $523	+10% $568
Rate	-1.0pp $514	-0.5pp $497	base $479	+0.5pp $461	+1.0pp $442

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-16
   days on market $69,900 Active 155 DOM
2. 2026-06-15
   days on market $69,900 Active 154 DOM
3. 2026-06-13
   days on market $69,900 Active 152 DOM
4. 2026-06-12
   days on market $69,900 Active 151 DOM
5. 2026-06-09
   days on market $69,900 Active 148 DOM
6. 2026-06-08
   days on market $69,900 Active 147 DOM
7. 2026-06-07
   days on market $69,900 Active 146 DOM
8. 2026-06-07
   days on market $69,900 Active 145 DOM
9. 2026-06-04
   days on market $69,900 Active 142 DOM
10. 2026-06-02
    days on market $69,900 Active 141 DOM
11. 2026-06-01
    days on market $69,900 Active 140 DOM
12. 2026-05-31
    days on market $69,900 Active 139 DOM
13. 2026-05-31
    days on market $69,900 Active 138 DOM
14. 2026-01-24
    status Active
15. 2026-01-08
    historical
16. 2026-01-07
    status Active
17. 2026-01-06
    historical
18. 2025-12-31
    historical
19. 2025-12-30
    status Active
20. 2025-12-26
    historical
21. 2025-12-16
    listed $69,900 Active
22. 2025-12-16
    listed Active
23. 2021-08-06
    historical

ⓘ 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: $154 · $13/mo
• Projected year-2 tax: $870 · $73/mo
• Expected delta: +$716/yr (+$60/mo · 465.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥107°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,479
• − Mortgage interest: −$3,915
• − Property taxes: −$154
• − Insurance: −$350
• − Repairs & maintenance: −$1,078
• − Management: −$1,078
• − Depreciation: −$2,033
• Taxable income: $4,869
• Est. tax owed @ 24.0%: −$1,169
• After-tax cash flow: $4,577/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: Fairfield Comm H S District 225
• NCES district ID: 1726180
• Math proficiency: 15% ▬ 0.00%
• Reading proficiency: 25% ▼ -5.00%
• Median HH income: $36,920
• Composite: 19.89/100
• National rank: #13889
• State rank: #725 of 919 in IL

Livability — Fairfield

• Score: 69/100
• State rank: #408
• US rank: #8419

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fairfield, IL
• Population (ZIP): 7,924

Population outlook (Wayne County) Hauer SSP2

• Today (2025): 15,695 people
• By 2030: 15,277 · -2.7%
• By 2040: 14,526 · -7.4%
• By 2050: 13,826 · -11.9%
• By 2075: 12,049 · -23.2%
• By 2100: 9,912 · -36.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Serbian 3% Slovak 2% Lithuanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Wayne

• 2024 margin: Solid R (+70.9) · D 14.0% · R 84.9% · Other 1.1%
• 2008→2024 swing: -35.7pp toward R · 2008: -35.2pp · 2024: -70.9pp
• All cycles: 2024: R+70.9 2020: R+70.5 2016: R+71.7 2012: R+58.2 2008: R+35.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.07%
• Current HPI: 120.4194
• 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

10 events — show timeline

• 2026-01-24 Relisted — MRED as Distributed by MLS Grid
• 2026-01-08 Listing Removed — MRED as Distributed by MLS Grid
• 2026-01-07 Relisted — MRED as Distributed by MLS Grid
• 2026-01-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2025-12-31 Listing Removed — MRED as Distributed by MLS Grid
• 2025-12-30 Relisted — MRED as Distributed by MLS Grid
• 2025-12-26 Listing Removed — MRED as Distributed by MLS Grid
• 2025-12-16 Listed — RMLSA as Distributed by MLS Grid
• 2025-12-16 Listed $69,900 MRED as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid

Property tax history

-11.7%/yr

Latest (2024): $154 · +684.4% YoY. Source: county tax records.