1008 E Lafayette Ave · Jacksonville, IL 62650

$120,000

2 bd · 2.0 ba · 1,008 sqft · SingleFamily · 5 Days on market

Built 1964

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Why this score? — see what drove the D 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 +14.5/30.0
• ARV discount +7.5/15.0
• DSCR +4.4/10.0
• 1% rule +4.2/10.0
• 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

Nice! Very attractive 2BR/1.5BA home absolutely loaded with updates. Gorgeous hardwood and tile flooring and 6-panel doors. Sharp kitchen with granite countertops and stainless appliances. Additional family room is highlighted with log siding and metal ceiling, very cool! The open floor plan is inviting and functional. This house just shines! Roof, HVAC, wiring and plumbing are 5 years old. Fun modern light fixtures and fans have been added. Detached garage is 3 years old. Fenced back yard with nice deck and above ground pool. Side patio, front porch and a beautifully landscaped yard complete the picture. You definitely want to see 1008 E Lafayette!

Key facts

• Above-ground pool
• Open concept layout
• Built 1964

Tags

• OPEN CONCEPT LAYOUT
• TWO OVERSIZED LIVING ROOMS
• FULL UNFINISHED BASEMENT
• EXTRA-LARGE DETACHED GARAGE
• FULLY FENCED BACKYARD
• ABOVE-GROUND POOL

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $26 ($312/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $111k (7.6% below list).
• Recommended offer: $111k (7.6% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 5.4% in Jacksonville — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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-, commute F.
• 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.
• Zoned schools: Lincoln Elem School (math 17% / reading 27%, grade F, #940 of 2,056 statewide, top 49%, 269 students, 0% FRL); Jacksonville Middle School (math 17% / reading 19%, grade F, #444 of 665 statewide, top 67%, 718 students, 0% FRL); Jacksonville High School (math 21% / reading 25%, grade F, #312 of 693 statewide, top 46%, 893 students, 0% FRL) — zoned schools average 0% FRL vs 51% district-wide (51 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 143 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 $830 of loan paydown is wiped out by about $4k 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

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 21y ago 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.
• Current owner paid $80k; list at $120k implies a 50% gain — meaningful room to come down on a strong offer.

Recommended offer $110,876 (7.6% below list)

Questions for the listing agent

1. Built in 1964 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.92% ✗
• Cap rate: 6.55%
• Cash-on-cash: 0.93%
• DSCR: 1.04
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $54,432
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
631 Myrtle St	0.22mi	2/1.0	1,010 (+0%)	11mo	$77,000	$76	77
118 Spaulding Pl	0.41mi	2/1.0	912 (-10%)	3mo	$69,900	$77	59
910 Allen Ave	0.41mi	3/1.0 (+1)	1,064 (+6%)	11mo	$67,000	$63	53
324 E Lafayette Ave	0.49mi	2/1.0	1,045 (+4%)	19mo	$61,900	$59	51
247 E Wolcott St	0.45mi	3/1.0 (+1)	1,040 (+3%)	17mo	$20,000	$19	51
509 E Douglas Ave	0.37mi	2/1.0	864 (-14%)	6mo	$34,900	$40	50
406 S East St	0.72mi	3/1.0 (+1)	1,105 (+10%)	3mo	$60,000	$54	39
728 N East St	0.56mi	1/1.0 (-1)	1,134 (+12%)	8mo	$1,000	$1	38
609 E Independence Ave	0.29mi	3/1.0 (+1)	1,136 (+13%)	23mo	$10,000	$9	37

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: -14.8%
• Equity multiple: 0.47×
• Total profit: $-17,761
• Equity at exit: $17,892

10-year hold

• IRR: -6.1%
• Equity multiple: 0.61×
• Total profit: $-13,215
• Equity at exit: $10,375

Cash invested: $33,600 (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: 143
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,109 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$171 /mo · $2,048/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$233
• Net cashflow: $26

Break-even live

Break-even rent $1,076

Max offer price $120,000

Occupancy floor 93%

Sensitivity live

Price	-10% $94	-5% $60	+0% $26	+5% $-8	+10% $-42
Rent	-10% $-62	-5% $-18	+0% $26	+5% $70	+10% $114
Rate	-1.0pp $86	-0.5pp $57	base $26	+0.5pp $-5	+1.0pp $-37

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-21
   days on market $120,000 Active 5 DOM
2. 2026-06-21
   days on market $120,000 Active 4 DOM
3. 2026-06-18
   days on market $120,000 Active 2 DOM
4. 2026-06-17
   remarks 627-char remark
5. 2026-06-17
   listed $120,000 Active 1 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: $2,048 · $171/mo
• Projected year-2 tax: $2,386 · $199/mo
• Expected delta: +$338/yr (+$28/mo · 16.5%)

ⓘ 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 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: $13,305
• − Mortgage interest: −$6,722
• − Property taxes: −$2,048
• − Insurance: −$600
• − Repairs & maintenance: −$1,064
• − Management: −$1,064
• − Depreciation: −$3,491
• Taxable loss: −$1,684
• Est. tax savings @ 24.0%: +$404
• After-tax cash flow: $716/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

+118.6% since first listed

8 events — show timeline

• 2026-06-17 Listed $120,000 FSBO.com
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-04-23 Sold (Public Records) $79,900 Public Records
• 2021-04-23 Sold (MLS) $79,900 RMLSA as Distributed by MLS Grid
• 2021-03-01 Listed $79,900 RMLSA as Distributed by MLS Grid
• 2007-03-26 Sold (Public Records) $51,000 Public Records
• 2007-03-22 Sold (MLS) $54,000 RMLSA as Distributed by MLS Grid
• 2005-11-25 Listed $54,900 RMLSA as Distributed by MLS Grid

Property tax history

+6.4%/yr

Latest (2025): $2,048 · +8.1% YoY. Source: county tax records.