4 Presnell Pt · Pana, IL 62557

$83,900

1 bd · 2.0 ba · 610 sqft · SingleFamily public records · 31 Days on market

Built 1950 5,663 sqft lot Est $103k · 18% under · waterfront

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Why this score? — see what drove the C 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 +19.0/30.0
• ARV discount +15.0/15.0
• DSCR +6.0/10.0
• 1% rule +4.9/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

AFFORDABLE LAKE FRONT CABIN ON QUIET PART OF PANA LAKE , ENCLOSED SCREEN PORCH WITH A LITTLE TLC THIS COULD BE YOUR SUMMER HIDEAWAY

Key facts

• Lakefront property
• Lake view
• Waterfront cabin

Tags

• LAKEFRONT PROPERTY
• WATERFRONT CABIN
• SCREENED IN FRONT PORCH
• NEW CONCRETE PATIO
• LAKE VIEW

Property features AI

Exterior

• Utilities: Public water; Holding tank sewer
• Home design: Single-family residence; One level (single-story); Residential zoning; Located on waterfront with lake privileges and views
• Construction: Metal siding; Pillar/post/pier foundation; Rubber roof
• Exterior features: Front porch; Patio (screened); Screened porch

Interior

• Kitchen: No specific kitchen appliances listed
• Bedrooms: Total of 3 rooms (configuration not specified)
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Window air conditioning units
• Interior features: Electric water heater; Fireplace (1)
• Laundry & utility: No laundry details provided

What this means for you Summary

Snapshot

• This is a 1-bed/2.0-bath single-family listed at $84k.

Deal economics

• At list price, monthly cash flow is $88 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $83k (1.3% below list).
• Recommended offer: $81k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#599 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Pana CUSD 8 (town): math 20% / reading 29% proficiency, ranked #360 of 620 in IL (top 58%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Washington Elem School (299 students, 0% FRL); Pana Jr High School (math 13% / reading 28%, grade F, #410 of 665 statewide, top 62%, 264 students, 0% FRL); Pana Sr High School (math 17% / reading 22%, grade F, #397 of 693 statewide, top 61%, 392 students, 0% FRL) — zoned schools average 0% FRL vs 54% district-wide (54 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 66 active listings in the ZIP; 26 units permitted in Christian County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $580 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Christian County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($81k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $9k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $46k; list at $84k implies a 82% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $81,383 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
6. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
7. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
8. 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.
9. 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.
10. 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: 0.99% ✗
• Cap rate: 7.55%
• Cash-on-cash: 4.49%
• DSCR: 1.20
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $102,938
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11 Elizabeth Circle Dr	0.16mi	1/1.0	623 (+2%)	18mo	$29,000	$47	70
9 Kestrail Loop	0.56mi	1/1.0	600 (-2%)	24mo	$75,000	$125	47

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: -9.3%
• Equity multiple: 0.66×
• Total profit: $-7,987
• Equity at exit: $12,510

10-year hold

• IRR: 0.2%
• Equity multiple: 1.01×
• Total profit: $278
• Equity at exit: $7,254

Cash invested: $23,492 (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 62557

• Home prices YoY: -18.5%
• Active inventory: 66
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $828 medium
• Mortgage (P&I): −$440
• Tax from tax record: −$91 /mo · $1,093/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$174
• Net cashflow: $88

Break-even live

Break-even rent $717

Max offer price $83,900

Occupancy floor 84%

Sensitivity live

Price	-10% $135	-5% $112	+0% $88	+5% $64	+10% $40
Rent	-10% $23	-5% $55	+0% $88	+5% $121	+10% $153
Rate	-1.0pp $130	-0.5pp $109	base $88	+0.5pp $66	+1.0pp $44

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: $20,975
• Closing costs: $2,517
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $83,900 Active 31 DOM
2. 2026-06-19
   days on market $83,900 Active 29 DOM
3. 2026-06-18
   days on market $83,900 Active 28 DOM
4. 2026-06-17
   days on market $83,900 Active 27 DOM
5. 2026-06-16
   days on market $83,900 Active 26 DOM
6. 2026-06-15
   days on market $83,900 Active 25 DOM
7. 2026-06-14
   days on market $83,900 Active 23 DOM
8. 2026-06-13
   days on market $83,900 Active 22 DOM
9. 2026-06-10
   days on market $83,900 Active 20 DOM
10. 2026-06-09
    days on market $83,900 Active 19 DOM
11. 2026-06-08
    days on market $83,900 Active 18 DOM
12. 2026-06-07
    pricedays on market $83,900 Active 17 DOM
13. 2026-06-05
    days on market $89,900 Active 14 DOM
14. 2026-06-03
    days on market $89,900 Active 13 DOM
15. 2026-06-02
    days on market $89,900 Active 12 DOM
16. 2026-06-01
    days on market $89,900 Active 11 DOM
17. 2026-05-31
    days on market $89,900 Active 10 DOM
18. 2026-05-30
    days on market $89,900 Active 9 DOM
19. 2026-05-21
    listed $92,900 Active
20. 2025-05-14
    soldstatus $46,000 Closed 131-char remark

    Show marketing remark (131 chars)

    AFFORDABLE LAKE FRONT CABIN ON QUIET PART OF PANA LAKE , ENCLOSED SCREEN PORCH WITH A LITTLE TLC THIS COULD BE YOUR SUMMER HIDEAWAY

21. 2025-04-03
    status Pending 131-char remark

    Show marketing remark (131 chars)

    AFFORDABLE LAKE FRONT CABIN ON QUIET PART OF PANA LAKE , ENCLOSED SCREEN PORCH WITH A LITTLE TLC THIS COULD BE YOUR SUMMER HIDEAWAY

22. 2025-03-26
    listed $49,900 Active 131-char remark

    Show marketing remark (131 chars)

    AFFORDABLE LAKE FRONT CABIN ON QUIET PART OF PANA LAKE , ENCLOSED SCREEN PORCH WITH A LITTLE TLC THIS COULD BE YOUR SUMMER HIDEAWAY

ⓘ 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: $1,093 · $91/mo
• Projected year-2 tax: $1,499 · $125/mo
• Expected delta: +$406/yr (+$34/mo · 37.1%)

ⓘ 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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥105°F today · 20 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: $9,935
• − Mortgage interest: −$4,700
• − Property taxes: −$1,093
• − Insurance: −$420
• − Repairs & maintenance: −$795
• − Management: −$795
• − Depreciation: −$2,441
• Taxable loss: −$308
• Est. tax savings @ 24.0%: +$74
• After-tax cash flow: $1,130/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: Pana CUSD 8
• NCES district ID: 1730630
• Math proficiency: 20% ▼ -4.00%
• Reading proficiency: 29% ▼ -7.00%
• Median HH income: $42,385
• Composite: 20.88/100
• National rank: #8493
• State rank: #360 of 620 in IL

Livability — Pana

• Score: 65/100
• State rank: #599
• US rank: #12409

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pana, IL
• Population (ZIP): 6,859

Population outlook (Christian County) Hauer SSP2

• Today (2025): 31,182 people
• By 2030: 29,787 · -4.5%
• By 2040: 26,793 · -14.1%
• By 2050: 23,757 · -23.8%
• By 2075: 17,333 · -44.4%
• By 2100: 11,573 · -62.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 5% Two or more races 3% Black 1%
• Common ancestry: Lithuanian 4% Slovak 3% Romanian 3%
• Foreign-born: 1% · Canada

Political lean MEDSL · Christian

• 2024 margin: Solid R (+46.7) · D 25.9% · R 72.6% · Other 1.5%
• 2008→2024 swing: -40.4pp toward R · 2008: -6.3pp · 2024: -46.7pp
• All cycles: 2024: R+46.7 2020: R+44.6 2016: R+42.7 2012: R+23.1 2008: R+6.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -30.82%
• Current HPI: 135.6938
• 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

+68.1% since first listed

6 events — show timeline

• 2026-06-05 Price Changed $83,900 CIBR
• 2026-05-23 Price Changed $89,900 CIBR
• 2026-05-21 Listed $92,900 CIBR
• 2025-05-14 Sold (MLS) $46,000 CIBR
• 2025-04-03 Pending — CIBR
• 2025-03-26 Listed $49,900 CIBR

Property tax history

+5.6%/yr

Latest (2025): $1,093 · +11.2% YoY. Source: county tax records.