502 W South St · Astoria, IL 61501

$35,000

3 bd · 1.0 ba · 1,008 sqft · Manufactured public records · 9 Days on market

Built 1971

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +6.4/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0

Listing remarks

Many opportunities with this property. Three bedrooms, one bath home. Large eat in kitchen, open to the living room. Main floor laundry. Stove, refrigerator, washer, dryer are staying, not warranted. Carport, also used as a porch. Winterization program in 2022 with added insulation. 2022 Furnace/CA outside combo unit. Newer water line, meter to house. Detached 20x26 Garage, woodburning stove can stay. Storage container can stay. The chicken coop remains. Detached deck for your patio furniture and outdoor fun. Two lots with a combined size of 132x112x132x114. Home next door, 520 W South Street is also listed for sale PA1267290 for $85,000.

Key facts

• Eat in kitchen
• Main floor laundry
• Carport

Tags

• EAT IN KITCHEN
• MAIN FLOOR LAUNDRY
• CARPORT
• FURNACE CA OUTSIDE COMBO UNIT
• NEWER WATER LINE
• DETACHED GARAGE

Property features AI

Exterior

• Parking: 2-car garage; Detached carport
• Utilities: Public water; Public sewer
• Home design: Single family residence; Double wide body type; 1971 construction; 1,008 building area total
• Construction: Built in 1971
• Exterior features: Level lot; Paved road access; Roof: Other

Interior

• Kitchen: Kitchen included (appliances: Refrigerator)
• Bedrooms: 3 bedrooms (Bedroom 1 on main level; Bedroom 2 on main level; Bedroom 3 on main level)
• Flooring: Carpet in at least some bedrooms; Vinyl in living room and kitchen; Other flooring in one bedroom
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Dryer, Refrigerator, Washer; No basement; No fireplaces
• Laundry & utility: Main level laundry; Washer and Dryer included

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $35k.

Deal economics

• At list price, monthly cash flow is $542 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).

Location & tenants

• Location reads 61/100 on livability (#904 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, housing A; Watch: amenities F, commute F, employment F.
• Astoria CUSD 1 (rural): math 6% / reading 30% proficiency, ranked #739 of 919 in IL (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Astoria Elem School (math 15% / reading 24%, grade F, #1,043 of 2,056 statewide, top 51%, 130 students, 0% FRL); Astoria Junior High School (math 2% / reading 22%, grade F, #550 of 665 statewide, top 84%, 67 students, 0% FRL); Astoria High School (math 10% / reading 30%, grade F, #357 of 693 statewide, top 54%, 73 students, 0% FRL) — zoned schools average 0% FRL vs 45% district-wide (45 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 11 active listings in the ZIP; 14 units permitted in Fulton County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($242 loan paydown + $955 appreciation (2.7% local appreciation)).
• Fulton County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.7% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $30k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $35,000

Questions for the listing agent

1. Built in 1971 — 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: 2.90% ✓
• Cap rate: 24.88%
• Cash-on-cash: 66.39%
• DSCR: 3.95
• GRM: 2.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.73% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 70.9%
• Equity multiple: 4.91×
• Total profit: $38,276
• Equity at exit: $15,206

10-year hold

• IRR: 70.6%
• Equity multiple: 10.03×
• Total profit: $88,530
• Equity at exit: $23,029

Cash invested: $9,800 (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 61501

• Home prices YoY: 2.2%
• Active inventory: 11
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,013 medium
• Mortgage (P&I): −$184
• Tax from tax record: −$60 /mo · $723/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$213
• Net cashflow: $542

Break-even live

Break-even rent $327

Max offer price $35,000

Occupancy floor 42%

Sensitivity live

Price	-10% $562	-5% $552	+0% $542	+5% $532	+10% $522
Rent	-10% $462	-5% $502	+0% $542	+5% $582	+10% $622
Rate	-1.0pp $560	-0.5pp $551	base $542	+0.5pp $533	+1.0pp $524

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-21
   days on market $35,000 Active 9 DOM
2. 2026-06-21
   days on market $35,000 Active 8 DOM
3. 2026-06-18
   days on market $35,000 Active 6 DOM
4. 2026-06-17
   status $35,000 Active 5 DOM
5. 2026-06-15
   statusdays on market $35,000 Pending 5 DOM
6. 2026-06-13
   days on market $35,000 Active 4 DOM
7. 2026-06-12
   remarks 646-char remark
8. 2026-06-12
   listed $35,000 Active 3 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: $723 · $60/mo
• Projected year-2 tax: $759 · $63/mo
• Expected delta: +$36/yr (+$3/mo · 4.9%)

ⓘ 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 3/10 Moderate 7 d/yr ≥105°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,161
• − Mortgage interest: −$1,961
• − Property taxes: −$723
• − Insurance: −$175
• − Repairs & maintenance: −$973
• − Management: −$973
• − Depreciation: −$1,018
• Taxable income: $6,339
• Est. tax owed @ 24.0%: −$1,521
• After-tax cash flow: $4,985/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: Astoria CUSD 1
• NCES district ID: 1704440
• Math proficiency: 6% ▬ 0.00%
• Reading proficiency: 30% ▲ 10.00%
• Median HH income: $41,718
• Composite: 18.74/100
• National rank: #14004
• State rank: #739 of 919 in IL

Livability — Astoria

• Score: 61/100
• State rank: #904
• US rank: #17575

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Astoria, IL
• Population (ZIP): 1,612

Population outlook (Fulton County) Hauer SSP2

• Today (2025): 33,356 people
• By 2030: 32,144 · -3.6%
• By 2040: 29,518 · -11.5%
• By 2050: 26,775 · -19.7%
• By 2075: 19,972 · -40.1%
• By 2100: 13,580 · -59.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 3% Two or more races 2%
• Common ancestry: Iranian 3% Lithuanian 1% Slovak 1%
• Foreign-born: 0%

Political lean MEDSL · Fulton

• 2024 margin: Strong R (+23.8) · D 37.1% · R 60.9% · Other 2.0%
• 2008→2024 swing: -45.2pp toward R · 2008: 21.3pp · 2024: -23.8pp
• All cycles: 2024: R+23.8 2020: R+20.1 2016: R+15.1 2012: D+11.1 2008: D+21.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.73%
• Current HPI: 128.8523
• 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

+59.1% since first listed

3 events — show timeline

• 2026-06-08 Listed $35,000 RMLSA as Distributed by MLS Grid
• 2020-07-24 Sold (Public Records) $30,000 Public Records
• 2010-07-07 Sold (Public Records) $22,000 Public Records

Property tax history

+4.9%/yr

Latest (2024): $723 · -5.7% YoY. Source: county tax records.