114 N Washington St · Martinsville, IL 62442

$89,000

3 bd · 1.0 ba · 2,868 sqft · SingleFamily public records · 243 Days on market

Built 1895 0.28 ac lot $31/sqft · 42% below area Est $138k · 36% under

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Why this score? — see what drove the A- 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 +29.6/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• Appreciation +6.6/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0

Listing remarks MLS

Step into timeless charm with this beautiful three-bedroom, two-bath home nestled in the heart of Martinsville. Featuring large windows that flood the space with natural light, this home boasts stunning original woodwork and intricate hardwood floors that add warmth and elegance throughout. The gorgeous staircase serves as a true focal point, showcasing the craftsmanship and character of a bygone era. Much of the hard work has already been done—now it’s your turn to make it your own and bring your vision to life! At the back of the property, you’ll find a small additional structure that could be transformed into a cozy guest suite, studio, or office. Prefer more space? You also have the option to remove it and build your dream garage instead. Don’t miss this opportunity, schedule your showing today! SOLD AS - IS.

Key facts

• Gorgeous staircase
• Original woodwork
• Hardwood floors

Tags

• ORIGINAL WOODWORK
• HARDWOOD FLOORS
• GORGEOUS STAIRCASE
• SMALL ADDITIONAL STRUCTURE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $322 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• Recommended offer: $78k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#944 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.
• Martinsville CUSD 3C (rural): math 15% / reading 15% proficiency, ranked #778 of 919 in IL (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 10 active listings in the ZIP; 1 units permitted in Clark County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($615 loan paydown + $3k appreciation (3.1% local appreciation)).
• Clark County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.1% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 243 days — a 12% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $23k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $19k; list at $89k implies a 368% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1895 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $78,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 243 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 1895 — 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 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?
6. 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.
7. 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.
8. 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: 1.43% ✓
• Cap rate: 10.64%
• Cash-on-cash: 15.51%
• DSCR: 1.69
• GRM: 5.8

CMA / ARV

• ARV (median comp): $138,102
• List price: $89,000
• Delta: -35.55%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
106 E Bond St	0.19mi	3/2.0	2,766 (-4%)	9mo	$15,900	$6	74
105 N York St	0.06mi	3/2.0	2,555 (-11%)	15mo	$58,000	$23	63
509 E Cumberland St	0.36mi	3/1.5	2,929 (+2%)	21mo	$170,000	$58	61

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

3.11% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.3%
• Equity multiple: 2.28×
• Total profit: $31,832
• Equity at exit: $40,582

10-year hold

• IRR: 23.3%
• Equity multiple: 4.37×
• Total profit: $84,010
• Equity at exit: $62,983

Cash invested: $24,920 (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 62442

• Home prices YoY: 2.9%
• Active inventory: 10
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,276 medium
• Mortgage (P&I): −$467
• Tax from tax record: −$182 /mo · $2,189/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$268
• Net cashflow: $322

Break-even live

Break-even rent $869

Max offer price $89,000

Occupancy floor 70%

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-01
   days on market $89,000 Active 243 DOM
2. 2026-05-31
   days on market $89,000 Active 242 DOM
3. 2026-05-31
   days on market $89,000 Active 241 DOM
4. 2026-05-02
   price $89,000 848-char remark

   Show marketing remark (848 chars)

   Step into timeless charm with this beautiful three-bedroom, two-bath home nestled in the heart of Martinsville. Featuring large windows that flood the space with natural light, this home boasts stunning original woodwork and intricate hardwood floors that add warmth and elegance throughout. The gorgeous staircase serves as a true focal point, showcasing the craftsmanship and character of a bygone era. Much of the hard work has already been done—now it’s your turn to make it your own and bring your vision to life! At the back of the property, you’ll find a small additional structure that could be transformed into a cozy guest suite, studio, or office. Prefer more space? You also have the option to remove it and build your dream garage instead. Don’t miss this opportunity, schedule your showing today! SOLD AS - IS.

5. 2025-10-24
   status Active 848-char remark

   Show marketing remark (848 chars)

   Step into timeless charm with this beautiful three-bedroom, two-bath home nestled in the heart of Martinsville. Featuring large windows that flood the space with natural light, this home boasts stunning original woodwork and intricate hardwood floors that add warmth and elegance throughout. The gorgeous staircase serves as a true focal point, showcasing the craftsmanship and character of a bygone era. Much of the hard work has already been done—now it’s your turn to make it your own and bring your vision to life! At the back of the property, you’ll find a small additional structure that could be transformed into a cozy guest suite, studio, or office. Prefer more space? You also have the option to remove it and build your dream garage instead. Don’t miss this opportunity, schedule your showing today! SOLD AS - IS.

6. 2025-10-24
   price $99,500 848-char remark

   Show marketing remark (848 chars)

   Step into timeless charm with this beautiful three-bedroom, two-bath home nestled in the heart of Martinsville. Featuring large windows that flood the space with natural light, this home boasts stunning original woodwork and intricate hardwood floors that add warmth and elegance throughout. The gorgeous staircase serves as a true focal point, showcasing the craftsmanship and character of a bygone era. Much of the hard work has already been done—now it’s your turn to make it your own and bring your vision to life! At the back of the property, you’ll find a small additional structure that could be transformed into a cozy guest suite, studio, or office. Prefer more space? You also have the option to remove it and build your dream garage instead. Don’t miss this opportunity, schedule your showing today! SOLD AS - IS.

7. 2025-04-29
   status Active 848-char remark

   Show marketing remark (848 chars)

   Step into timeless charm with this beautiful three-bedroom, two-bath home nestled in the heart of Martinsville. Featuring large windows that flood the space with natural light, this home boasts stunning original woodwork and intricate hardwood floors that add warmth and elegance throughout. The gorgeous staircase serves as a true focal point, showcasing the craftsmanship and character of a bygone era. Much of the hard work has already been done—now it’s your turn to make it your own and bring your vision to life! At the back of the property, you’ll find a small additional structure that could be transformed into a cozy guest suite, studio, or office. Prefer more space? You also have the option to remove it and build your dream garage instead. Don’t miss this opportunity, schedule your showing today! SOLD AS - IS.

8. 2025-04-29
   price $114,000 848-char remark

   Show marketing remark (848 chars)

   Step into timeless charm with this beautiful three-bedroom, two-bath home nestled in the heart of Martinsville. Featuring large windows that flood the space with natural light, this home boasts stunning original woodwork and intricate hardwood floors that add warmth and elegance throughout. The gorgeous staircase serves as a true focal point, showcasing the craftsmanship and character of a bygone era. Much of the hard work has already been done—now it’s your turn to make it your own and bring your vision to life! At the back of the property, you’ll find a small additional structure that could be transformed into a cozy guest suite, studio, or office. Prefer more space? You also have the option to remove it and build your dream garage instead. Don’t miss this opportunity, schedule your showing today! SOLD AS - IS.

9. 2025-04-22
   historical Active Under Contract 848-char remark

   Show marketing remark (848 chars)

   Step into timeless charm with this beautiful three-bedroom, two-bath home nestled in the heart of Martinsville. Featuring large windows that flood the space with natural light, this home boasts stunning original woodwork and intricate hardwood floors that add warmth and elegance throughout. The gorgeous staircase serves as a true focal point, showcasing the craftsmanship and character of a bygone era. Much of the hard work has already been done—now it’s your turn to make it your own and bring your vision to life! At the back of the property, you’ll find a small additional structure that could be transformed into a cozy guest suite, studio, or office. Prefer more space? You also have the option to remove it and build your dream garage instead. Don’t miss this opportunity, schedule your showing today! SOLD AS - IS.

10. 2025-04-15
    status Pending 848-char remark

    Show marketing remark (848 chars)

    Step into timeless charm with this beautiful three-bedroom, two-bath home nestled in the heart of Martinsville. Featuring large windows that flood the space with natural light, this home boasts stunning original woodwork and intricate hardwood floors that add warmth and elegance throughout. The gorgeous staircase serves as a true focal point, showcasing the craftsmanship and character of a bygone era. Much of the hard work has already been done—now it’s your turn to make it your own and bring your vision to life! At the back of the property, you’ll find a small additional structure that could be transformed into a cozy guest suite, studio, or office. Prefer more space? You also have the option to remove it and build your dream garage instead. Don’t miss this opportunity, schedule your showing today! SOLD AS - IS.

11. 2025-03-29
    historical Active Under Contract 848-char remark

    Show marketing remark (848 chars)

    Step into timeless charm with this beautiful three-bedroom, two-bath home nestled in the heart of Martinsville. Featuring large windows that flood the space with natural light, this home boasts stunning original woodwork and intricate hardwood floors that add warmth and elegance throughout. The gorgeous staircase serves as a true focal point, showcasing the craftsmanship and character of a bygone era. Much of the hard work has already been done—now it’s your turn to make it your own and bring your vision to life! At the back of the property, you’ll find a small additional structure that could be transformed into a cozy guest suite, studio, or office. Prefer more space? You also have the option to remove it and build your dream garage instead. Don’t miss this opportunity, schedule your showing today! SOLD AS - IS.

12. 2025-03-23
    listed $112,000 Active 848-char remark

    Show marketing remark (848 chars)

    Step into timeless charm with this beautiful three-bedroom, two-bath home nestled in the heart of Martinsville. Featuring large windows that flood the space with natural light, this home boasts stunning original woodwork and intricate hardwood floors that add warmth and elegance throughout. The gorgeous staircase serves as a true focal point, showcasing the craftsmanship and character of a bygone era. Much of the hard work has already been done—now it’s your turn to make it your own and bring your vision to life! At the back of the property, you’ll find a small additional structure that could be transformed into a cozy guest suite, studio, or office. Prefer more space? You also have the option to remove it and build your dream garage instead. Don’t miss this opportunity, schedule your showing today! SOLD AS - IS.

13. 2001-10-09
    soldstatus $19,000

ⓘ 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: $2,189 · $182/mo
• Projected year-2 tax: $2,189 · $182/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥104°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: $15,317
• − Mortgage interest: −$4,985
• − Property taxes: −$2,189
• − Insurance: −$445
• − Repairs & maintenance: −$1,225
• − Management: −$1,225
• − Depreciation: −$2,589
• Taxable income: $2,658
• Est. tax owed @ 24.0%: −$638
• After-tax cash flow: $3,228/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: Martinsville CUSD 3C
• NCES district ID: 1724900
• Math proficiency: 15% ▬ 0.00%
• Reading proficiency: 15% ▼ -5.00%
• Median HH income: $45,654
• Composite: 16.8/100
• National rank: #14220
• State rank: #778 of 919 in IL

Livability — Martinsville

• Score: 61/100
• State rank: #944
• US rank: #18392

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: Martinsville, IL
• Population (ZIP): 2,629

Population outlook (Clark County) Hauer SSP2

• Today (2025): 14,978 people
• By 2030: 14,380 · -4.0%
• By 2040: 13,135 · -12.3%
• By 2050: 11,920 · -20.4%
• By 2075: 9,254 · -38.2%
• By 2100: 6,737 · -55.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 3%
• Common ancestry: Lithuanian 1% Iranian 1% Italian 1%
• Foreign-born: 1%
• Languages at home: 99% English-only · Other Indo-European 1%

Political lean MEDSL · Clark

• 2024 margin: Solid R (+51.2) · D 23.5% · R 74.7% · Other 1.8%
• 2008→2024 swing: -43.2pp toward R · 2008: -8.1pp · 2024: -51.2pp
• All cycles: 2024: R+51.2 2020: R+50.7 2016: R+47.9 2012: R+32.5 2008: R+8.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.11%
• Current HPI: 110.8748
• 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

+368.4% since first listed

10 events — show timeline

• 2026-05-02 Price Changed $89,000 CIBR
• 2025-10-24 Relisted — CIBR
• 2025-10-24 Price Changed $99,500 CIBR
• 2025-04-29 Relisted — CIBR
• 2025-04-29 Price Changed $114,000 CIBR
• 2025-04-22 Contingent — CIBR
• 2025-04-15 Pending — CIBR
• 2025-03-29 Contingent — CIBR
• 2025-03-23 Listed $112,000 CIBR
• 2001-10-09 Sold (Public Records) $19,000 Public Records

Property tax history

+2.0%/yr

Latest (2024): $2,189 · +67.4% YoY. Source: county tax records.