808 W Lafayette Ave · Jacksonville, IL 62650

$119,900

5 bd · 2.0 ba · 1,656 sqft · SingleFamily · 2 Days on market

Built 1930 8,722 sqft lot Est $124k · at est.

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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 +28.5/30.0
• DSCR +10.0/10.0
• ARV discount +9.1/15.0
• 1% rule +7.9/10.0
• 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

Investor Special. Long time Illinois College Rental for sale. 5 bedrooms and 2 full baths. So much potential with some cosmetic repairs. Home is offered as is or as repaired. 45,000 is as repaired. Living room floor is bowed and needs repaired. Repairs for floor only. Seller would consider an as is price also. 22x24 detached two car garage. Taxes reflect value of 71,250 and no exemptions. Sold As IS.

Key facts

• Formal dining room
• Ample parking
• Laundry room

Tags

• LARGE YARD
• AMPLE PARKING
• UPDATED BATHROOMS
• FORMAL DINING ROOM
• MUD ROOM
• LAUNDRY ROOM

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Built in 1930
• Construction: Shingle roof
• Exterior features: Level lot

Interior

• Kitchen: Kitchen with tile flooring
• Bedrooms: 5 bedrooms; Bedroom sizes include: main-level bedrooms approx. 15 x 12, 13 x 11, 13 x 12; upper-level bedrooms approx. 16 x 14 and 13 x 12; Egress windows in bedrooms
• Flooring: Laminate flooring in main and upper living areas; Tile flooring in kitchen
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Forced-air heating
• Interior features: Partial, unfinished basement; No fireplaces

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $392 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Cap rate 10.2% 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: 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 $829 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 20y 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 $35k; list at $120k implies a 243% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $119,900

Questions for the listing agent

1. Built in 1930 — 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: 1.29% ✓
• Cap rate: 10.22%
• Cash-on-cash: 14.03%
• DSCR: 1.62
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $124,200
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
500 N Diamond Ave	0.19mi	4/1.0 (-1)	1,666 (+1%)	3mo	$125,000	$75	78
336 Caldwell St	0.21mi	4/1.0 (-1)	1,592 (-4%)	16mo	$142,000	$89	62
218 S Prairie St	0.42mi	4/1.5 (-1)	1,732 (+5%)	16mo	$79,000	$46	52
849 Grove	0.54mi	4/2.0 (-1)	1,630 (-2%)	19mo	$69,000	$42	52
310 S Diamond St	0.45mi	4/2.0 (-1)	1,827 (+10%)	17mo	$20,900	$11	42
1136 N Diamond St	0.61mi	4/2.0 (-1)	1,456 (-12%)	6mo	$145,000	$100	42
414 Gladstone Rd	0.72mi	4/2.5 (-1)	1,505 (-9%)	13mo	$133,000	$88	34

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: 4.3%
• Equity multiple: 1.17×
• Total profit: $5,590
• Equity at exit: $17,877

10-year hold

• IRR: 13.8%
• Equity multiple: 2.11×
• Total profit: $37,150
• Equity at exit: $10,367

Cash invested: $33,572 (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: 6.5×

Monthly cashflow live

• Estimated rent: $1,547 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$151 /mo · $1,809/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$325
• Net cashflow: $392

Break-even live

Break-even rent $1,050

Max offer price $119,900

Occupancy floor 70%

Sensitivity live

Price	-10% $460	-5% $426	+0% $392	+5% $359	+10% $325
Rent	-10% $270	-5% $331	+0% $392	+5% $454	+10% $515
Rate	-1.0pp $453	-0.5pp $423	base $392	+0.5pp $361	+1.0pp $330

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-05-21
   status Pending
2. 2026-05-19
   listed $119,900 Active
3. 2022-10-19
   soldstatus $35,000
4. 2022-10-18
   soldstatus $35,000 Closed 414-char remark

   Show marketing remark (414 chars)

   Investor Special. Long time Illinois College Rental for sale. 5 bedrooms and 2 full baths. So much potential with some cosmetic repairs. Home is offered as is or as repaired. 45,000 is as repaired. Living room floor is bowed and needs repaired. Repairs for floor only. Seller would consider an as is price also. 22x24 detached two car garage. Taxes reflect value of 71,250 and no exemptions. Sold As IS.

5. 2022-10-02
   status Pending 414-char remark

   Show marketing remark (414 chars)

   Investor Special. Long time Illinois College Rental for sale. 5 bedrooms and 2 full baths. So much potential with some cosmetic repairs. Home is offered as is or as repaired. 45,000 is as repaired. Living room floor is bowed and needs repaired. Repairs for floor only. Seller would consider an as is price also. 22x24 detached two car garage. Taxes reflect value of 71,250 and no exemptions. Sold As IS.

6. 2022-09-29
   price $45,000 414-char remark

   Show marketing remark (414 chars)

   Investor Special. Long time Illinois College Rental for sale. 5 bedrooms and 2 full baths. So much potential with some cosmetic repairs. Home is offered as is or as repaired. 45,000 is as repaired. Living room floor is bowed and needs repaired. Repairs for floor only. Seller would consider an as is price also. 22x24 detached two car garage. Taxes reflect value of 71,250 and no exemptions. Sold As IS.

7. 2022-09-29
   listed $49,000 Active 414-char remark

   Show marketing remark (414 chars)

   Investor Special. Long time Illinois College Rental for sale. 5 bedrooms and 2 full baths. So much potential with some cosmetic repairs. Home is offered as is or as repaired. 45,000 is as repaired. Living room floor is bowed and needs repaired. Repairs for floor only. Seller would consider an as is price also. 22x24 detached two car garage. Taxes reflect value of 71,250 and no exemptions. Sold As IS.

8. 2016-04-15
   soldstatus $55,000
9. 2006-06-09
   soldstatus $39,500 409-char remark

   Show marketing remark (409 chars)

   Sold `as is`. Don`t let the outside fool you. Exterior needs work including parts of the roof. Interior needs some finishing - has had many improvements: furnace & c/a 5 yrs old, addition to back, handicap bath & bdrm, new kitchen cabinets, new countertops, ceramic floor, carpet, drywall. Leak in DR & part of east brick foundation needs to be redone. BA stool not hooked up. New 200 amp service.

10. 2006-06-09
    soldstatus $39,500

    Show marketing remark (409 chars)

    Sold `as is`. Don`t let the outside fool you. Exterior needs work including parts of the roof. Interior needs some finishing - has had many improvements: furnace & c/a 5 yrs old, addition to back, handicap bath & bdrm, new kitchen cabinets, new countertops, ceramic floor, carpet, drywall. Leak in DR & part of east brick foundation needs to be redone. BA stool not hooked up. New 200 amp service.

11. 2006-02-17
    listed $49,000 409-char remark

    Show marketing remark (409 chars)

    Sold `as is`. Don`t let the outside fool you. Exterior needs work including parts of the roof. Interior needs some finishing - has had many improvements: furnace & c/a 5 yrs old, addition to back, handicap bath & bdrm, new kitchen cabinets, new countertops, ceramic floor, carpet, drywall. Leak in DR & part of east brick foundation needs to be redone. BA stool not hooked up. New 200 amp service.

ⓘ 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: $1,809 · $151/mo
• Projected year-2 tax: $2,266 · $189/mo
• Expected delta: +$456/yr (+$38/mo · 25.2%)

ⓘ 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 · 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: $18,561
• − Mortgage interest: −$6,716
• − Property taxes: −$1,809
• − Insurance: −$600
• − Repairs & maintenance: −$1,485
• − Management: −$1,485
• − Depreciation: −$3,488
• Taxable income: $2,978
• Est. tax owed @ 24.0%: −$715
• After-tax cash flow: $3,995/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

+144.7% since first listed

11 events — show timeline

• 2026-05-21 Pending — RMLSA as Distributed by MLS Grid
• 2026-05-19 Listed $119,900 RMLSA as Distributed by MLS Grid
• 2022-10-19 Sold (Public Records) $35,000 Public Records
• 2022-10-18 Sold (MLS) $35,000 RMLSA as Distributed by MLS Grid
• 2022-10-02 Pending — RMLSA as Distributed by MLS Grid
• 2022-09-29 Price Changed $45,000 RMLSA as Distributed by MLS Grid
• 2022-09-29 Listed $49,000 RMLSA as Distributed by MLS Grid
• 2016-04-15 Sold (Public Records) $55,000 Public Records
• 2006-06-09 Sold (Public Records) $39,500 Public Records
• 2006-06-09 Sold (MLS) $39,500 RMLSA as Distributed by MLS Grid
• 2006-02-17 Listed $49,000 RMLSA as Distributed by MLS Grid

Property tax history

+3.4%/yr

Latest (2024): $1,809 · +0.3% YoY. Source: county tax records.