10 Cedar St · Pana, IL 62557

$83,500

2 bd · 2.0 ba · 1,024 sqft · SingleFamily public records · 12 Days on market

Built 1900 $82/sqft · 28% above area Est $65k · 28% over ↓ 31% since listing

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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 +26.9/30.0
• DSCR +9.3/10.0
• 1% rule +6.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice starter or retirement home. 2 bedroom, 1 bath with a 2 car detached garage and a fenced in yard!

Key facts

• Built 1900
• Listed 12 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $84k.

Deal economics

• At list price, monthly cash flow is $230 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($958 rent vs $84k).
• Cap rate 9.6% vs local median 6.4% in Pana — 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 65/100 on livability (#599 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute 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.
• 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 $577 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $23k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts; this cycle's ask is 9335% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $28k; list at $84k implies a 204% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $83,500

Questions for the listing agent

1. Built in 1900 — 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 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?
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: 1.15% ✓
• Cap rate: 9.60%
• Cash-on-cash: 11.81%
• DSCR: 1.53
• GRM: 7.3

CMA / ARV

• ARV (median comp): $65,419
• List price: $83,500
• Delta: -39.01%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10 Cedar St	0.00mi	2/1.0	1,024 (0%)	1mo	$27,500	$27	95
613 E 5th St	0.38mi	2/1.5	1,000 (-2%)	0mo	$40,000	$40	76
906 Birch Ave	0.30mi	2/1.0	952 (-7%)	3mo	$85,000	$89	68
604 Kitchell St	0.59mi	2/1.0	1,052 (+3%)	2mo	$55,500	$53	62
106 S Cedar St	0.13mi	3/1.5 (+1)	1,152 (+12%)	5mo	$100,000	$87	62
610 Cherry St	0.53mi	2/1.0	1,080 (+6%)	0mo	$86,000	$80	62
1014 E 1st St	0.33mi	3/1.0 (+1)	1,008 (-2%)	15mo	$70,000	$69	61
303 S Hickory St	0.31mi	2/1.0	966 (-6%)	17mo	$47,000	$49	58
206 S Vine St	0.29mi	2/1.0	1,100 (+7%)	23mo	$60,000	$55	51
210 Kennedy Ave	0.36mi	3/1.0 (+1)	1,132 (+10%)	9mo	$135,000	$119	49
405 E 5th St	0.44mi	3/1.0 (+1)	1,092 (+7%)	15mo	$89,000	$82	47
608 Maple St	0.57mi	3/1.0 (+1)	1,151 (+12%)	14mo	$89,000	$77	32

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: 1.2%
• Equity multiple: 1.05×
• Total profit: $1,113
• Equity at exit: $12,450

10-year hold

• IRR: 10.8%
• Equity multiple: 1.85×
• Total profit: $19,780
• Equity at exit: $7,220

Cash invested: $23,380 (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: 7.3×

Monthly cashflow live

• Estimated rent: $958 medium
• Mortgage (P&I): −$438
• Tax from tax record: −$54 /mo · $649/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$201
• Net cashflow: $230

Break-even live

Break-even rent $667

Max offer price $83,500

Occupancy floor 71%

Sensitivity live

Price	-10% $277	-5% $254	+0% $230	+5% $207	+10% $183
Rent	-10% $154	-5% $192	+0% $230	+5% $268	+10% $306
Rate	-1.0pp $272	-0.5pp $251	base $230	+0.5pp $209	+1.0pp $187

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: $20,875
• Closing costs: $2,505
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-05
   days on market $83,500 Active 12 DOM
2. 2026-06-03
   days on market $83,500 Active 11 DOM
3. 2026-06-02
   days on market $83,500 Active 10 DOM
4. 2026-06-01
   days on market $83,500 Active 9 DOM
5. 2026-05-31
   days on market $83,500 Active 8 DOM
6. 2026-05-30
   days on market $83,500 Active 7 DOM
7. 2026-05-05
   status Pending 101-char remark

   Show marketing remark (101 chars)

   Nice starter or retirement home. 2 bedroom, 1 bath with a 2 car detached garage and a fenced in yard!

8. 2026-04-10
   listed $39,900 Active 101-char remark

   Show marketing remark (101 chars)

   Nice starter or retirement home. 2 bedroom, 1 bath with a 2 car detached garage and a fenced in yard!

ⓘ 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: $649 · $54/mo
• Projected year-2 tax: $1,272 · $106/mo
• Expected delta: +$623/yr (+$52/mo · 96.0%)

ⓘ 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 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: $11,498
• − Mortgage interest: −$4,677
• − Property taxes: −$649
• − Insurance: −$418
• − Repairs & maintenance: −$920
• − Management: −$920
• − Depreciation: −$2,429
• Taxable income: $1,485
• Est. tax owed @ 24.0%: −$356
• After-tax cash flow: $2,406/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

-31.1% since first listed

6 events — show timeline

• 2026-06-04 Rental Removed $885 TURBOTENANT
• 2026-05-27 Listed for Rent $885 TURBOTENANT
• 2026-05-26 Sold (Public Records) $27,500 Public Records
• 2026-05-20 Sold (MLS) $27,500 CIBR
• 2026-05-05 Pending — CIBR
• 2026-04-10 Listed $39,900 CIBR

Property tax history

+6.0%/yr

Latest (2025): $649 · +25.5% YoY. Source: county tax records.