511 South Washington · McLeansboro, IL 62859

$129,000

4 bd · 2.0 ba · 3,075 sqft · SingleFamily · 213 Days on market

Built 1927 Est $184k · 30% under

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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).

• ARV discount +15.0/15.0
• Cash flow +14.7/30.0
• 1% rule +4.6/10.0
• DSCR +4.5/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Spacious 1920s 2.5-story home on a corner lot with pocket doors, a large addition, spa room, and two garages (4 spaces). Home needs updating but offers incredible character, space, and potential to make it your own.

Key facts

• Pocket doors
• Large addition
• Corner lot

Tags

• CORNER LOT
• POCKET DOORS
• LARGE ADDITION
• SPA ROOM

Property features AI

Exterior

• Parking: Total parking for 6 vehicles; 4-car garage; 2-car carport; Has attached or detached garage and carport
• Utilities: Public water; Public sewer; Electric service (Ameren); Electricity, sewer, and water connected
• Home design: Single family residence; Residential property; Two and a half levels (stories); Entry facing information not provided
• Construction: Frame and plaster construction
• Exterior features: Back yard; Front yard; Corner lot; Some trees on the property

Interior

• Bedrooms: 4 bedrooms (all on upper levels)
• Bathrooms: 2 full bathrooms (configuration includes 1 full bath on main level and 1 full bath on upper level)
• Heating & cooling: Natural gas heating; Hot water heating; Other heating type noted; Wall/window air conditioning units
• Interior features: Two fireplaces (including a wood-burning fireplace; one noted in bedroom and see remarks); 13 total rooms

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $129k.

Deal economics

• At list price, monthly cash flow is $32 ($384/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 $123k (4.4% below list).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#381 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Hamilton County CUSD 10 (town): math 23% / reading 33% proficiency, ranked #285 of 620 in IL (top 46%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Hamilton County Jr/Sr High School (math 17% / reading 30%, grade F, #309 of 693 statewide, top 45%, 512 students, 0% FRL) — zoned schools average 0% FRL vs 42% district-wide (42 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 26 active listings in the ZIP.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $892 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Hamilton County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 213 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y ago; this cycle's ask has dropped $16k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $50k; list at $129k implies a 158% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $113,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 213 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1927 — 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. 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?
7. 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.
8. 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.
9. 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: 0.96% ✗
• Cap rate: 6.59%
• Cash-on-cash: 1.06%
• DSCR: 1.05
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $184,500
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
704 S Washington St	0.11mi	4/2.5	3,000 (-2%)	9mo	$180,000	$60	81

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: -14.6%
• Equity multiple: 0.48×
• Total profit: $-18,817
• Equity at exit: $19,234

10-year hold

• IRR: -5.8%
• Equity multiple: 0.62×
• Total profit: $-13,562
• Equity at exit: $11,154

Cash invested: $36,120 (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 62859

• Home prices YoY: -19.6%
• Active inventory: 26
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,233 medium
• Mortgage (P&I): −$676
• Tax from tax record: −$212 /mo · $2,540/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$259
• Net cashflow: $32

Break-even live

Break-even rent $1,192

Max offer price $129,000

Occupancy floor 92%

Sensitivity live

Price	-10% $105	-5% $68	+0% $32	+5% $-5	+10% $-41
Rent	-10% $-65	-5% $-17	+0% $32	+5% $81	+10% $129
Rate	-1.0pp $97	-0.5pp $65	base $32	+0.5pp $-1	+1.0pp $-35

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-21
   days on market $129,000 Active 213 DOM
2. 2026-06-18
   days on market $129,000 Active 211 DOM
3. 2026-06-17
   days on market $129,000 Active 210 DOM
4. 2026-06-16
   days on market $129,000 Active 209 DOM
5. 2026-06-15
   days on market $129,000 Active 208 DOM
6. 2026-06-13
   days on market $129,000 Active 206 DOM
7. 2026-06-12
   days on market $129,000 Active 205 DOM
8. 2026-06-09
   days on market $129,000 Active 202 DOM
9. 2026-06-08
   days on market $129,000 Active 201 DOM
10. 2026-06-07
    days on market $129,000 Active 200 DOM
11. 2026-06-04
    pricestatusdays on market $129,000 Active 196 DOM
12. 2026-06-02
    days on market $139,000 Active Under Contract 195 DOM
13. 2026-06-01
    days on market $139,000 Active Under Contract 194 DOM
14. 2026-05-31
    days on market $139,000 Active Under Contract 193 DOM
15. 2026-05-31
    days on market $139,000 Active Under Contract 192 DOM
16. 2026-03-12
    historical Active Under Contract
17. 2026-01-29
    price $139,000
18. 2025-11-19
    listed $145,000 Active
19. 2021-08-06
    historical
20. 2021-08-06
    historical
21. 2021-08-06
    historical
22. 2020-06-17
    soldstatus
23. 2020-06-17
    soldstatus
24. 2020-06-17
    soldstatus $50,000
25. 2019-02-04
    listed $64,500
26. 2019-02-04
    listed $64,500
27. 2017-08-08
    soldstatus $89,700
28. 2010-06-23
    historical
29. 2010-03-23
    historical

ⓘ 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: $2,540 · $212/mo
• Projected year-2 tax: $2,734 · $228/mo
• Expected delta: +$194/yr (+$16/mo · 7.6%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥107°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,794
• − Mortgage interest: −$7,226
• − Property taxes: −$2,540
• − Insurance: −$645
• − Repairs & maintenance: −$1,183
• − Management: −$1,183
• − Depreciation: −$3,753
• Taxable loss: −$1,737
• Est. tax savings @ 24.0%: +$417
• After-tax cash flow: $801/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: Hamilton County CUSD 10
• NCES district ID: 1710790
• Math proficiency: 23% ▼ -11.00%
• Reading proficiency: 33% ▼ -14.00%
• Median HH income: $42,383
• Composite: 23.78/100
• National rank: #7812
• State rank: #285 of 620 in IL

Livability — McLeansboro

• Score: 70/100
• State rank: #381
• US rank: #7967

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: McLeansboro, IL
• Population (ZIP): 5,199

Population outlook (Hamilton County) Hauer SSP2

• Today (2025): 7,718 people
• By 2030: 7,433 · -3.7%
• By 2040: 6,852 · -11.2%
• By 2050: 6,254 · -19.0%
• By 2075: 4,777 · -38.1%
• By 2100: 3,465 · -55.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 2% Hispanic / Latino 2% Asian 1%
• Common ancestry: Slovak 2% Romanian 2% Lithuanian 2%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Hamilton

• 2024 margin: Solid R (+63.3) · D 17.7% · R 81.0% · Other 1.4%
• 2008→2024 swing: -50.2pp toward R · 2008: -13.1pp · 2024: -63.3pp
• All cycles: 2024: R+63.3 2020: R+60.3 2016: R+58.0 2012: R+33.0 2008: R+13.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -24.86%
• Current HPI: 101.7665
• 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

+55.0% since first listed

14 events — show timeline

• 2026-03-12 Contingent — MARIS as Distributed by MLS Grid
• 2026-01-29 Price Changed $139,000 MARIS as Distributed by MLS Grid
• 2025-11-19 Listed $145,000 MARIS as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2020-06-17 Sold (Public Records) $50,000 Public Records
• 2020-06-17 Sold (MLS) — MRED as Distributed by MLS Grid
• 2020-06-17 Sold (MLS) — RMLSA as Distributed by MLS Grid
• 2019-02-04 Listed $64,500 MRED as Distributed by MLS Grid
• 2019-02-04 Listed $64,500 RMLSA as Distributed by MLS Grid
• 2017-08-08 Sold (Public Records) $89,700 Public Records
• 2010-06-23 Listing Removed — MRED as Distributed by MLS Grid
• 2010-03-23 Listing Removed — MRED as Distributed by MLS Grid

Property tax history

-1.6%/yr

Latest (2025): $2,540 · +2.9% YoY. Source: county tax records.