502 S Broadway St S · Havana, IL 62644

$93,900

4 bd · 1.5 ba · 1,310 sqft · Other · 3 Days on market

Built 1933 8,580 sqft lot $72/sqft · 45% above area Est $65k · 45% over

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.9/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Charming, fully renovated 4BR/1.5BA bungalow with an attached two-car garage! The beautiful interior has been thoughtfully remodeled throughout. The main level features a spacious living room with hardwood floors, a stylish eat-in kitchen with tile that includes stainless steel refrigerator and stove, two comfortable hardwood bedrooms and a beautifully finished full bath. The full lower level offers two additional carpeted bedrooms and a convenient half bath. At the back of the home, a lovely three-season porch/sunroom (with washer/dryer hookups) overlooks a private, peaceful backyard—perfect for morning coffee or unwinding in the evening. Additional improvements include new furnace (

Key facts

• 8,580 sq ft lot
• 2 garage spots
• Built 1933

Property features AI

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Built in 1933
• Construction: Not new construction
• Exterior features: Level lot; Paved road access; Shingle roof

Interior

• Kitchen: Refrigerator
• Bedrooms: 4 bedrooms (rooms located on main, upper, lower, basement and additional levels as noted)
• Flooring: Hardwood flooring in main-level bedrooms and living areas; Tile flooring in kitchen; Carpet in basement bedrooms
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Ceiling fans
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath other listed at $94k.

Deal economics

• At list price, monthly cash flow is $494 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $94k).

Location & tenants

• Location reads 60/100 on livability (#989 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Havana CUSD 126 (town): math 17% / reading 22% proficiency, ranked #448 of 620 in IL (top 72%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Havana High School (math 15% / reading 24%, grade F, #379 of 693 statewide, top 57%, 279 students, 0% FRL) — zoned schools average 0% FRL vs 47% district-wide (47 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 36 active listings in the ZIP; 7 units permitted in Mason County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $649 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Mason County population projected at -30% 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 $26k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $14k; list at $94k implies a 571% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1933 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $93,900

Questions for the listing agent

1. Built in 1933 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.49% ✓
• Cap rate: 12.61%
• Cash-on-cash: 22.56%
• DSCR: 2.00
• GRM: 5.6

CMA / ARV

• ARV (median comp): $64,683
• List price: $93,900
• Delta: 45.17%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 15.4%
• Equity multiple: 1.62×
• Total profit: $16,260
• Equity at exit: $14,001

10-year hold

• IRR: 24.1%
• Equity multiple: 3.08×
• Total profit: $54,689
• Equity at exit: $8,119

Cash invested: $26,292 (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 62644

• Home prices YoY: -14.0%
• Active inventory: 36
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,404 medium
• Mortgage (P&I): −$492
• Tax from tax record: −$83 /mo · $998/yr
• Insurance: −$39
• HOA: −$0
• Vacancy / Maint / Mgmt: −$295
• Net cashflow: $494

Break-even live

Break-even rent $778

Max offer price $93,900

Occupancy floor 60%

Sensitivity live

Price	-10% $547	-5% $521	+0% $494	+5% $468	+10% $441
Rent	-10% $383	-5% $439	+0% $494	+5% $550	+10% $605
Rate	-1.0pp $541	-0.5pp $518	base $494	+0.5pp $470	+1.0pp $445

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: $23,475
• Closing costs: $2,817
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-08
   status Pending 837-char remark
2. 2026-05-04
   listed $93,900 Active 837-char remark
3. 2016-03-17
   soldstatus $14,000
4. 2003-07-17
   soldstatus $59,000

ⓘ 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: $998 · $83/mo
• Projected year-2 tax: $1,565 · $130/mo
• Expected delta: +$567/yr (+$47/mo · 56.8%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $16,845
• − Mortgage interest: −$5,260
• − Property taxes: −$998
• − Insurance: −$470
• − Repairs & maintenance: −$1,348
• − Management: −$1,348
• − Depreciation: −$2,732
• Taxable income: $4,690
• Est. tax owed @ 24.0%: −$1,126
• After-tax cash flow: $4,805/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: Havana CUSD 126
• NCES district ID: 1718510
• Math proficiency: 17% ▼ -10.00%
• Reading proficiency: 22% ▼ -16.00%
• Median HH income: $39,881
• Composite: 16.52/100
• National rank: #9181
• State rank: #448 of 620 in IL

Livability — Havana

• Score: 60/100
• State rank: #989
• US rank: #19077

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Havana, IL
• City population: 4,657
• Population (ZIP): 4,657

Population outlook (Mason County) Hauer SSP2

• Today (2025): 12,087 people
• By 2030: 11,283 · -6.7%
• By 2040: 9,766 · -19.2%
• By 2050: 8,421 · -30.3%
• By 2075: 5,785 · -52.1%
• By 2100: 3,888 · -67.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 3% Hispanic / Latino 3%
• Common ancestry: Slovak 3% Lithuanian 2% Italian 2%
• Foreign-born: 1% · Canada, Jamaica
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Mason

• 2024 margin: Solid R (+42.2) · D 27.8% · R 70.1% · Other 2.1%
• 2008→2024 swing: -48.1pp toward R · 2008: 5.9pp · 2024: -42.2pp
• All cycles: 2024: R+42.2 2020: R+39.5 2016: R+31.8 2012: R+6.3 2008: D+5.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -18.81%
• Current HPI: 115.1077
• 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

+59.2% since first listed

4 events — show timeline

• 2026-05-08 Pending — RMLSA as Distributed by MLS Grid
• 2026-05-04 Listed $93,900 RMLSA as Distributed by MLS Grid
• 2016-03-17 Sold (Public Records) $14,000 Public Records
• 2003-07-17 Sold (Public Records) $59,000 Public Records

Property tax history

-8.1%/yr

Latest (2024): $998 · -1.8% YoY. Source: county tax records.