311 Davenport St · Lincoln, IL 62656

$29,900

2 bd · 1.0 ba · 1,056 sqft · SingleFamily public records · 16 Days on market

Built 1957 ↓ 23% since listing

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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
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks

* * Selling As-Is * * Listed as Hartsburg but located in Lincoln! This 2-bedroom, 1-bath home at 311 Davenport Street is a great opportunity for a buyer with vision. Features include an unfinished basement and a quiet, convenient location within the city of Lincoln. Owner may finance. Selling as-is — bring your ideas and make it your own! Try $700 down and $350/month. * * Broker Owned * *

Key facts

• Unfinished basement
• Quiet location
• Convenient location

Tags

• UNFINISHED BASEMENT
• QUIET LOCATION
• CONVENIENT LOCATION

Property features AI

Exterior

• Utilities: Public water; Public sewer; Electric service by Ameren
• Home design: Single-family residence; One level
• Construction: Construction materials: Unknown
• Exterior features: Lot with other/unspecified features

Interior

• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Unfinished walk-up basement

🏷️ Possibly a rental listed for sale. The $29,900 price doesn't fit this home's estimated sale value (~$109,824) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $30k.

Deal economics

• At list price, monthly cash flow is $445 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($825 rent vs $30k).
• Recommended offer: $29k (1.5% below list) — sets the bar for market timing.
• Cap rate 24.2% vs local median 4.1% in Lincoln — 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 (#509 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: schools D+, amenities F, commute F.
• Lincoln Chsd 404 (town): math 21% / reading 27% proficiency, ranked #367 of 620 in IL (top 59%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 77 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 10 units permitted in Logan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $207 of loan paydown is wiped out by about $897 of value loss. Plan a longer hold.
• Logan County population projected at -11% 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 $8k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($29k) is reasonable based on typical stale-listing flexibility.
• 2 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 1957 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $29,451 (1.5% below list)

Questions for the listing agent

1. Built in 1957 — 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. 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: 2.76% ✓
• Cap rate: 24.16%
• Cash-on-cash: 63.80%
• DSCR: 3.84
• GRM: 3.0

CMA / ARV

• ARV (on-the-fly): $109,824
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1503 N Kankakee St	0.47mi	2/1.0	1,010 (-4%)	6mo	$85,000	$84	66
1 Keokuk St	0.48mi	2/1.5	1,086 (+3%)	7mo	$115,000	$106	65
1107 N Kankakee St	0.21mi	3/1.0 (+1)	957 (-9%)	6mo	$89,000	$93	64
310 Pekin St	0.51mi	2/1.0	1,142 (+8%)	3mo	$115,000	$101	60
1708 Rutledge Dr	0.65mi	3/1.0 (+1)	1,086 (+3%)	2mo	$143,000	$132	58
1214 Pekin St	0.70mi	3/1.0 (+1)	1,037 (-2%)	3mo	$32,000	$31	57
1208 N Kankakee St	0.27mi	3/1.5 (+1)	1,203 (+14%)	2mo	$124,900	$104	55
111 Hennepin St	0.32mi	3/1.0 (+1)	1,199 (+14%)	5mo	$62,500	$52	53
315 N Sherman St	0.52mi	2/1.0	905 (-14%)	4mo	$48,000	$53	48
928 Broadway St	0.69mi	3/1.5 (+1)	1,141 (+8%)	6mo	$159,000	$139	42
165 Mayfair Dr	0.54mi	3/1.5 (+1)	1,190 (+13%)	8mo	$156,000	$131	40
208 11th St	0.69mi	3/1.0 (+1)	1,194 (+13%)	4mo	$126,000	$106	38

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: 62.9%
• Equity multiple: 3.81×
• Total profit: $23,517
• Equity at exit: $4,458

10-year hold

• IRR: 67.4%
• Equity multiple: 7.81×
• Total profit: $57,034
• Equity at exit: $2,585

Cash invested: $8,372 (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 62656

• Active inventory: 77
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $825 medium
• Mortgage (P&I): −$157
• Tax est. 1.5%: −$37 /mo · $448/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$173
• Net cashflow: $445

Break-even live

Break-even rent $262

Max offer price $29,900

Occupancy floor 41%

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: $7,475
• Closing costs: $897
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1103 N State St Lincoln, IL	1.0–3.0	1.0–2.0	996	$825	$0.83	20d	1	1.23mi

Listing history 3 events

1. 2026-05-21
   status Pending
2. 2026-05-05
   listed $29,900 Active
3. 2025-07-29
   listed $38,900 Active

ⓘ 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 4/10 Moderate 7 d/yr ≥105°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $9,900
• − Mortgage interest: −$1,675
• − Property taxes: −$448
• − Insurance: −$150
• − Repairs & maintenance: −$792
• − Management: −$792
• − Depreciation: −$870
• Taxable income: $5,173
• Est. tax owed @ 24.0%: −$1,242
• After-tax cash flow: $4,100/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: Lincoln Chsd 404
• NCES district ID: 1723050
• Math proficiency: 21% ▼ -9.00%
• Reading proficiency: 27% ▼ -8.00%
• Median HH income: $41,489
• Composite: 20.4/100
• National rank: #8590
• State rank: #367 of 620 in IL

Livability — Lincoln

• Score: 67/100
• State rank: #509
• US rank: #10514

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lincoln, IL
• City population: 18,364
• Population (ZIP): 18,364

Population outlook (Logan County) Hauer SSP2

• Today (2025): 28,066 people
• By 2030: 27,370 · -2.5%
• By 2040: 26,078 · -7.1%
• By 2050: 24,908 · -11.3%
• By 2075: 22,504 · -19.8%
• By 2100: 19,226 · -31.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Black 9% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Lithuanian 2% Slovak 1% Romanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Logan

• 2024 margin: Solid R (+41.5) · D 28.2% · R 69.8% · Other 2.0%
• 2008→2024 swing: -24.6pp toward R · 2008: -16.9pp · 2024: -41.5pp
• All cycles: 2024: R+41.5 2020: R+39.8 2016: R+40.1 2012: R+32.1 2008: R+16.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -181.45%
• Current HPI: 133.9499
• 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

-23.1% since first listed

3 events — show timeline

• 2026-05-21 Pending — MARIS as Distributed by MLS Grid
• 2026-05-05 Listed $29,900 MARIS as Distributed by MLS Grid
• 2025-07-29 Listed $38,900 MARIS as Distributed by MLS Grid

Property tax history

+2.6%/yr

Latest (2024): $1,628 · +43.7% YoY. Source: county tax records.