2006 Cedar St · Jacksonville, IL 62650

$98,500

2 bd · 1.0 ba · 1,200 sqft · SingleFamily · 112 Days on market

Built 1941 9,800 sqft lot $82/sqft · 40% below area Est $163k · 40% under

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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 +24.4/30.0
• ARV discount +15.0/15.0
• DSCR +7.9/10.0
• 1% rule +7.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great West Location! This home has some nice features. Main floor features one bedroom, a spacious living room, Dining room or den! Was originally a 3rd bedroom but it has been open to the Living room. Eat in kitchen and Laundry on the main level. Upstairs features a 2nd bedroom with Fireplace. This is 1.5 Story with approx 1200 sq feet of living space. Sold as is. Inspection Welcome

Key facts

• 9,800 sq ft lot
• Garage
• Built 1941

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $98k.

Deal economics

• At list price, monthly cash flow is $201 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $98k).
• Recommended offer: $90k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 5.4% in Jacksonville — 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 76/100 on livability (#187 in IL, #3,543 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, amenities C-, schools D.
• Jacksonville SD 117 (town): math 20% / reading 23% proficiency, ranked #407 of 620 in IL (top 66%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 141 active listings in the ZIP; 3 units permitted in Morgan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $681 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Morgan County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 112 days — a 9% lower offer ($90k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 15y ago; this cycle's ask has dropped $11k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $83k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $89,635 (9.0% below list)

Questions for the listing agent

1. It's been on market 112 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1941 — 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. 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.
7. 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.
8. 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: 1.20% ✓
• Cap rate: 8.74%
• Cash-on-cash: 8.74%
• DSCR: 1.39
• GRM: 6.9

CMA / ARV

• ARV (median comp): $163,083
• List price: $98,500
• Delta: -39.60%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1845 Cedar St	0.23mi	3/2.0 (+1)	1,118 (-7%)	8mo	$170,000	$152	63
1 Sunset Dr	0.53mi	2/1.0	1,120 (-7%)	2mo	$140,000	$125	62
207 Locust St	0.16mi	3/1.0 (+1)	1,134 (-6%)	23mo	$131,500	$116	60
1 Jones Pl	0.48mi	2/1.0	1,365 (+14%)	6mo	$170,000	$125	50

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: -3.0%
• Equity multiple: 0.89×
• Total profit: $-3,114
• Equity at exit: $14,687

10-year hold

• IRR: 6.7%
• Equity multiple: 1.51×
• Total profit: $13,969
• Equity at exit: $8,516

Cash invested: $27,580 (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 62650

• Active inventory: 141
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,182 medium
• Mortgage (P&I): −$517
• Tax from tax record: −$175 /mo · $2,105/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$248
• Net cashflow: $201

Break-even live

Break-even rent $928

Max offer price $98,500

Occupancy floor 78%

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: $24,625
• Closing costs: $2,955
• Reserves months: —
• Total cash needed: —

Listing history 41 events

1. 2026-06-18
   days on market $98,500 Under Contract 112 DOM
2. 2026-06-17
   days on market $98,500 Under Contract 111 DOM
3. 2026-06-16
   days on market $98,500 Under Contract 110 DOM
4. 2026-06-15
   days on market $98,500 Under Contract 109 DOM
5. 2026-06-13
   days on market $98,500 Under Contract 107 DOM
6. 2026-06-12
   days on market $98,500 Under Contract 106 DOM
7. 2026-06-09
   days on market $98,500 Under Contract 103 DOM
8. 2026-06-08
   days on market $98,500 Under Contract 102 DOM
9. 2026-06-07
   days on market $98,500 Under Contract 101 DOM
10. 2026-06-07
    days on market $98,500 Under Contract 100 DOM
11. 2026-06-04
    days on market $98,500 Under Contract 97 DOM
12. 2026-06-02
    days on market $98,500 Under Contract 96 DOM
13. 2026-06-01
    days on market $98,500 Under Contract 95 DOM
14. 2026-05-31
    days on market $98,500 Under Contract 94 DOM
15. 2026-05-31
    days on market $98,500 Under Contract 93 DOM
16. 2026-05-14
    historical Under Contract 391-char remark

    Show marketing remark (391 chars)

    Great West Location! This home has some nice features. Main floor features one bedroom, a spacious living room, Dining room or den! Was originally a 3rd bedroom but it has been open to the Living room. Eat in kitchen and Laundry on the main level. Upstairs features a 2nd bedroom with Fireplace. This is 1.5 Story with approx 1200 sq feet of living space. Sold as is. Inspection Welcome

17. 2026-04-30
    status Active 391-char remark

    Show marketing remark (391 chars)

    Great West Location! This home has some nice features. Main floor features one bedroom, a spacious living room, Dining room or den! Was originally a 3rd bedroom but it has been open to the Living room. Eat in kitchen and Laundry on the main level. Upstairs features a 2nd bedroom with Fireplace. This is 1.5 Story with approx 1200 sq feet of living space. Sold as is. Inspection Welcome

18. 2026-04-30
    price $98,500 391-char remark

    Show marketing remark (391 chars)

    Great West Location! This home has some nice features. Main floor features one bedroom, a spacious living room, Dining room or den! Was originally a 3rd bedroom but it has been open to the Living room. Eat in kitchen and Laundry on the main level. Upstairs features a 2nd bedroom with Fireplace. This is 1.5 Story with approx 1200 sq feet of living space. Sold as is. Inspection Welcome

19. 2026-04-16
    historical Under Contract 391-char remark

    Show marketing remark (391 chars)

    Great West Location! This home has some nice features. Main floor features one bedroom, a spacious living room, Dining room or den! Was originally a 3rd bedroom but it has been open to the Living room. Eat in kitchen and Laundry on the main level. Upstairs features a 2nd bedroom with Fireplace. This is 1.5 Story with approx 1200 sq feet of living space. Sold as is. Inspection Welcome

20. 2026-04-03
    price $104,500 391-char remark

    Show marketing remark (391 chars)

    Great West Location! This home has some nice features. Main floor features one bedroom, a spacious living room, Dining room or den! Was originally a 3rd bedroom but it has been open to the Living room. Eat in kitchen and Laundry on the main level. Upstairs features a 2nd bedroom with Fireplace. This is 1.5 Story with approx 1200 sq feet of living space. Sold as is. Inspection Welcome

21. 2026-03-12
    price $106,000 391-char remark

    Show marketing remark (391 chars)

    Great West Location! This home has some nice features. Main floor features one bedroom, a spacious living room, Dining room or den! Was originally a 3rd bedroom but it has been open to the Living room. Eat in kitchen and Laundry on the main level. Upstairs features a 2nd bedroom with Fireplace. This is 1.5 Story with approx 1200 sq feet of living space. Sold as is. Inspection Welcome

22. 2026-03-12
    price $107,500 391-char remark

    Show marketing remark (391 chars)

    Great West Location! This home has some nice features. Main floor features one bedroom, a spacious living room, Dining room or den! Was originally a 3rd bedroom but it has been open to the Living room. Eat in kitchen and Laundry on the main level. Upstairs features a 2nd bedroom with Fireplace. This is 1.5 Story with approx 1200 sq feet of living space. Sold as is. Inspection Welcome

23. 2026-02-26
    listed $109,900 Active 391-char remark

    Show marketing remark (391 chars)

    Great West Location! This home has some nice features. Main floor features one bedroom, a spacious living room, Dining room or den! Was originally a 3rd bedroom but it has been open to the Living room. Eat in kitchen and Laundry on the main level. Upstairs features a 2nd bedroom with Fireplace. This is 1.5 Story with approx 1200 sq feet of living space. Sold as is. Inspection Welcome

24. 2026-02-17
    historical $109,900 391-char remark

    Show marketing remark (391 chars)

    Great West Location! This home has some nice features. Main floor features one bedroom, a spacious living room, Dining room or den! Was originally a 3rd bedroom but it has been open to the Living room. Eat in kitchen and Laundry on the main level. Upstairs features a 2nd bedroom with Fireplace. This is 1.5 Story with approx 1200 sq feet of living space. Sold as is. Inspection Welcome

25. 2021-10-25
    soldstatus $83,000
26. 2021-10-22
    soldstatus $83,000 790-char remark

    Show marketing remark (790 chars)

    This adorable little cottage is located in a top west location. Factoring into Eisenhower School. The home is maintenance free vinyl siding, features a cool back yard. A large deck, fenced back yard, has a cute firepit-you will love this space. Hardwood floors warm this home up. Lots of fresh paint - turn key move in! kitchen has pretty cabinets-appliances included-the refrigerator in the garage will be moved into the kitchen. its in great shape! the main floor has a bedroom, large living room, formal dining /office room, full bath and the laundry. Upstairs a big dormer style bedroom is the best! an oversized 1 car garage. its cute in a great location the yard is awesome and they like their neighbors a lot. Need more space so its FOR SALE I think it will sell quick!

27. 2021-09-01
    listed $84,900 790-char remark

    Show marketing remark (790 chars)

    This adorable little cottage is located in a top west location. Factoring into Eisenhower School. The home is maintenance free vinyl siding, features a cool back yard. A large deck, fenced back yard, has a cute firepit-you will love this space. Hardwood floors warm this home up. Lots of fresh paint - turn key move in! kitchen has pretty cabinets-appliances included-the refrigerator in the garage will be moved into the kitchen. its in great shape! the main floor has a bedroom, large living room, formal dining /office room, full bath and the laundry. Upstairs a big dormer style bedroom is the best! an oversized 1 car garage. its cute in a great location the yard is awesome and they like their neighbors a lot. Need more space so its FOR SALE I think it will sell quick!

28. 2021-08-06
    historical
29. 2018-06-11
    soldstatus $68,000
30. 2018-06-08
    soldstatus $68,000
31. 2017-12-12
    listed $72,000
32. 2016-04-18
    soldstatus $71,900
33. 2015-10-15
    listed $71,900
34. 2014-06-23
    soldstatus $70,000
35. 2014-06-20
    soldstatus $70,000
36. 2012-08-25
    listed $74,000
37. 2011-12-27
    soldstatus $83,000
38. 2011-12-22
    soldstatus $83,000
39. 2011-09-01
    listed $88,900
40. 2007-11-15
    soldstatus $79,300
41. 2007-10-01
    soldstatus $79,300

ⓘ 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: $2,105 · $175/mo
• Projected year-2 tax: $2,171 · $181/mo
• Expected delta: +$65/yr (+$5/mo · 3.1%)

ⓘ 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 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥106°F today · 19 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: $14,186
• − Mortgage interest: −$5,518
• − Property taxes: −$2,105
• − Insurance: −$492
• − Repairs & maintenance: −$1,135
• − Management: −$1,135
• − Depreciation: −$2,865
• Taxable income: $936
• Est. tax owed @ 24.0%: −$225
• After-tax cash flow: $2,186/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: Jacksonville SD 117
• NCES district ID: 1720280
• Math proficiency: 20% ▼ -3.00%
• Reading proficiency: 23% ▼ -6.00%
• Median HH income: $44,909
• Composite: 18.66/100
• National rank: #8888
• State rank: #407 of 620 in IL

Livability — Jacksonville

• Score: 76/100
• State rank: #187
• US rank: #3543

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Jacksonville, IL
• City population: 24,318
• Population (ZIP): 24,318

Population outlook (Morgan County) Hauer SSP2

• Today (2025): 32,874 people
• By 2030: 31,698 · -3.6%
• By 2040: 29,050 · -11.6%
• By 2050: 26,381 · -19.8%
• By 2075: 20,235 · -38.4%
• By 2100: 14,324 · -56.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Black 7% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Lithuanian 2% Slovak 1% Iranian 1%
• Foreign-born: 1% · Canada, South Korea
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Morgan

• 2024 margin: Solid R (+32.5) · D 33.1% · R 65.6% · Other 1.3%
• 2008→2024 swing: -31.7pp toward R · 2008: -0.8pp · 2024: -32.5pp
• All cycles: 2024: R+32.5 2020: R+31.8 2016: R+29.9 2012: R+15.4 2008: R+0.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -84.33%
• Current HPI: 126.5712
• 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

+24.2% since first listed

26 events — show timeline

• 2026-05-14 Contingent — RMLSA as Distributed by MLS Grid
• 2026-04-30 Relisted — RMLSA as Distributed by MLS Grid
• 2026-04-30 Price Changed $98,500 RMLSA as Distributed by MLS Grid
• 2026-04-16 Contingent — RMLSA as Distributed by MLS Grid
• 2026-04-03 Price Changed $104,500 RMLSA as Distributed by MLS Grid
• 2026-03-12 Price Changed $106,000 RMLSA as Distributed by MLS Grid
• 2026-03-12 Price Changed $107,500 RMLSA as Distributed by MLS Grid
• 2026-02-26 Listed $109,900 RMLSA as Distributed by MLS Grid
• 2026-02-17 Coming Soon $109,900 RMLSA as Distributed by MLS Grid
• 2021-10-25 Sold (Public Records) $83,000 Public Records
• 2021-10-22 Sold (MLS) $83,000 RMLSA as Distributed by MLS Grid
• 2021-09-01 Listed $84,900 RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2018-06-11 Sold (Public Records) $68,000 Public Records
• 2018-06-08 Sold (MLS) $68,000 RMLSA as Distributed by MLS Grid
• 2017-12-12 Listed $72,000 RMLSA as Distributed by MLS Grid
• 2016-04-18 Sold (MLS) $71,900 RMLSA as Distributed by MLS Grid
• 2015-10-15 Listed $71,900 RMLSA as Distributed by MLS Grid
• 2014-06-23 Sold (Public Records) $70,000 Public Records
• 2014-06-20 Sold (MLS) $70,000 RMLSA as Distributed by MLS Grid
• 2012-08-25 Listed $74,000 RMLSA as Distributed by MLS Grid
• 2011-12-27 Sold (Public Records) $83,000 Public Records
• 2011-12-22 Sold (MLS) $83,000 RMLSA as Distributed by MLS Grid
• 2011-09-01 Listed $88,900 RMLSA as Distributed by MLS Grid
• 2007-11-15 Sold (Public Records) $79,300 Public Records
• 2007-10-01 Sold (Public Records) $79,300 Public Records

Property tax history

+2.7%/yr

Latest (2024): $2,105 · -2.9% YoY. Source: county tax records.