402 S Lafayette St · Jerseyville, IL 62052

$69,900

3 bd · 1.0 ba · 1,516 sqft · SingleFamily · 8 Days on market

Built 1912 2,178 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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0

Listing remarks

Charming 1912 single-family home in the heart of Jerseyville, offering 1,516 sqft of living space across 1.5 stories with a full basement. Sitting on an oversized corner lot (20x115 + 50x115) in the established Lafayette Addition, just minutes from downtown, schools, shopping, and IL-267. The home has been vacant and is being sold strictly as-is, where-is - perfect for a buyer with vision who wants to add their own finishes and build instant equity. Great bones, classic early-1900s character, and a footprint that's hard to find at this price point. Recent neighborhood comps support an ARV of $130K-$145K. Cash, hard money, or renovation loans (203k / HomeStyle) welcome. Buyer and buyer's age

Key facts

• Full basement
• Lafayette addition
• Corner lot

Tags

• CORNER LOT
• FULL BASEMENT
• LAFAYETTE ADDITION
• MINUTES FROM DOWNTOWN

Property features AI

Finance

• Other: Living area source: assessor
• HOA & community: No master association fee required

Exterior

• Utilities: Public water; Public sewer
• Home design: Detached single-family home; 1.5-story layout; Fee simple ownership
• Construction: Frame construction; Built more than 100 years ago; Property built before 1978
• Exterior features: Lot dimensions about 70 x 115; Lot under 0.25 acre

Interior

• Kitchen: Kitchen approximately 15 x 20
• Bedrooms: Three bedrooms (all on the main level); Master bedroom approximately 12 x 12; Bedroom 2 approximately 12 x 10; Bedroom 3 approximately 10 x 10
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas heating
• Interior features: Five total rooms; Unfinished full basement
• Laundry & utility: Dedicated laundry room

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 $426 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Cap rate 13.6% vs local median 4.6% in Jerseyville — 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 72/100 on livability (#327 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: health & safety C-, amenities D+, commute F.
• Jersey CUSD 100 (town): math 25% / reading 32% proficiency, ranked #260 of 620 in IL (top 42%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 90 active listings in the ZIP; 101 units permitted in Jersey County in 2024 (68 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($483 loan paydown + $7k appreciation (10.0% local appreciation)).
• Jersey County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $23k; list at $70k implies a 204% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.6% of price; built in 1912 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $69,900

Questions for the listing agent

1. Built in 1912 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.86% ✓
• Cap rate: 13.61%
• Cash-on-cash: 26.12%
• DSCR: 2.16
• GRM: 4.5

CMA / ARV

• ARV (on-the-fly): $174,340
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
400 S Arch St	0.16mi	3/1.5	1,567 (+3%)	9mo	$179,900	$115	77
201 W Barr Ave	0.13mi	4/1.5 (+1)	1,360 (-10%)	6mo	$165,000	$121	65
911 W Exchange St	0.59mi	3/2.0	1,517 (+0%)	4mo	$202,000	$133	65
412 Cross Ave	0.34mi	4/1.5 (+1)	1,554 (+2%)	11mo	$218,500	$141	64
100 Morean St	0.48mi	3/2.0	1,590 (+5%)	4mo	$169,000	$106	62
703 Harrison St	0.59mi	3/1.0	1,623 (+7%)	1mo	$139,900	$86	60
419 E Exchange St	0.55mi	2/1.5 (-1)	1,561 (+3%)	6mo	$85,000	$54	57
300 Clay St	0.39mi	3/1.0	1,304 (-14%)	2mo	$90,000	$69	57
209 W Spruce St	0.33mi	3/2.0	1,363 (-10%)	10mo	$210,000	$154	56
506 Hiview Dr	0.27mi	2/2.0 (-1)	1,335 (-12%)	4mo	$140,000	$105	55
900 Sarah St	0.72mi	4/1.0 (+1)	1,300 (-14%)	0mo	$65,000	$50	37
708 N Giddings	0.68mi	3/2.0	1,729 (+14%)	10mo	$239,000	$138	33

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 44.0%
• Equity multiple: 4.34×
• Total profit: $65,293
• Equity at exit: $62,971

10-year hold

• IRR: 38.1%
• Equity multiple: 9.74×
• Total profit: $171,130
• Equity at exit: $135,800

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 62052

• Home prices YoY: 10.2%
• Active inventory: 90
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,303 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$208 /mo · $2,497/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$274
• Net cashflow: $426

Break-even live

Break-even rent $764

Max offer price $69,900

Occupancy floor 62%

Sensitivity live

Price	-10% $466	-5% $446	+0% $426	+5% $406	+10% $386
Rent	-10% $323	-5% $374	+0% $426	+5% $477	+10% $529
Rate	-1.0pp $461	-0.5pp $444	base $426	+0.5pp $408	+1.0pp $389

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 6 events

1. 2026-06-18
   days on market $69,900 Active 8 DOM
2. 2026-06-17
   days on market $69,900 Active 7 DOM
3. 2026-06-16
   days on market $69,900 Active 6 DOM
4. 2026-06-15
   days on market $69,900 Active 5 DOM
5. 2026-06-13
   remarks 699-char remark
6. 2026-06-13
   listed $69,900 Active 3 DOM

ⓘ 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: $2,497 · $208/mo
• Projected year-2 tax: $2,497 · $208/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 4/10 Moderate 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,641
• − Mortgage interest: −$3,915
• − Property taxes: −$2,497
• − Insurance: −$350
• − Repairs & maintenance: −$1,251
• − Management: −$1,251
• − Depreciation: −$2,033
• Taxable income: $4,343
• Est. tax owed @ 24.0%: −$1,042
• After-tax cash flow: $4,069/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: Jersey CUSD 100
• NCES district ID: 1720430
• Math proficiency: 25% ▼ -10.00%
• Reading proficiency: 32% ▼ -14.00%
• Median HH income: $52,066
• Composite: 25.13/100
• National rank: #7522
• State rank: #260 of 620 in IL

Livability — Jerseyville

• Score: 72/100
• State rank: #327
• US rank: #6498

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Jerseyville, IL
• City population: 12,483
• Population (ZIP): 12,483

Population outlook (Jersey County) Hauer SSP2

• Today (2025): 21,031 people
• By 2030: 20,138 · -4.2%
• By 2040: 18,077 · -14.0%
• By 2050: 15,882 · -24.5%
• By 2075: 11,718 · -44.3%
• By 2100: 8,546 · -59.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Italian 1% Romanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Jersey

• 2024 margin: Solid R (+50.2) · D 24.1% · R 74.3% · Other 1.6%
• 2008→2024 swing: -47.5pp toward R · 2008: -2.7pp · 2024: -50.2pp
• All cycles: 2024: R+50.2 2020: R+48.1 2016: R+46.4 2012: R+23.9 2008: R+2.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 23.63%
• Current HPI: 255.48
• 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

+203.9% since first listed

2 events — show timeline

• 2026-06-10 Listed $69,900 MRED as Distributed by MLS Grid
• 1977-04-01 Sold (Public Records) $23,000 Public Records

Property tax history

+5.1%/yr

Latest (2024): $2,497 · +4.3% YoY. Source: county tax records.