310 6th St · Lincoln, IL 62656

$59,000

4 bd · 1.0 ba · 1,024 sqft · Other public records · 18 Days on market

Built 1892 0.28 ac lot

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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
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Spacious conveniently located 4-bedroom two story vinyl sided home with SO much potential! Main floor of home features living and dining areas, kitchen, two bedrooms, and a full bath. Upstairs, you will find two additional bedrooms. Property also features a partial basement (exterior access), older rear storage shed, two car detached garage with rear alley access, and a quaint covered front porch. Sold "AS IS, WHERE IS, " this stately residential dwelling needs your creative touch to truly shine for years to come!

Key facts

• 0.28 acre lot
• 2 garage spots
• Built 1892

Property features AI

Exterior

• Parking: Detached 2-car garage with alley access
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels
• Construction: Built in 1892; Shingle roof; Partial, unfinished basement
• Exterior features: Shed(s); Sloped lot

Interior

• Kitchen: Kitchen on main level
• Bedrooms: 4 bedrooms (bedroom sizes vary; primary/main level bedroom approx. 13 x 11)
• Flooring: Carpet in main and upper level living spaces; Vinyl flooring in kitchen
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Ceiling fans
• Laundry & utility: Laundry room in basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath other listed at $59k.

Deal economics

• At list price, monthly cash flow is $327 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($930 rent vs $59k).
• Recommended offer: $58k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.9% vs local median 4.1% in Lincoln — 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 67/100 on livability (#509 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: amenities F, commute F, employment D-.
• Lincoln Chsd 404 (town): math 21% / reading 27% proficiency, ranked #367 of 620 in IL (top 59%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Lincoln Jr High School (math 22% / reading 44%, grade F, #217 of 665 statewide, top 33%, 341 students, 0% FRL); Lincoln Comm High School (math 21% / reading 27%, grade F, #304 of 693 statewide, top 44%, 786 students, 0% FRL).
• Market conditions: 77 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 10 units permitted in Logan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $408 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Logan County population projected at -11% 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 $17k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($58k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1892 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $58,115 (1.5% below list)

Questions for the listing agent

1. Built in 1892 — 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: 1.58% ✓
• Cap rate: 12.94%
• Cash-on-cash: 23.75%
• DSCR: 2.06
• GRM: 5.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 16.9%
• Equity multiple: 1.68×
• Total profit: $11,278
• Equity at exit: $8,797

10-year hold

• IRR: 25.5%
• Equity multiple: 3.22×
• Total profit: $36,693
• Equity at exit: $5,101

Cash invested: $16,520 (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 62656

• Active inventory: 77
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $930 medium
• Mortgage (P&I): −$309
• Tax est. 1.5%: −$74 /mo · $885/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$195
• Net cashflow: $327

Break-even live

Break-even rent $516

Max offer price $59,000

Occupancy floor 60%

Sensitivity live

Price	-10% $368	-5% $347	+0% $327	+5% $307	+10% $286
Rent	-10% $253	-5% $290	+0% $327	+5% $364	+10% $400
Rate	-1.0pp $357	-0.5pp $342	base $327	+0.5pp $312	+1.0pp $296

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: $14,750
• Closing costs: $1,770
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1103 N State St Lincoln, IL	1.0–3.0	1.0–2.0	996	$930	$0.93	22d	1	1.02mi

Listing history 13 events

1. 2026-06-21
   days on market $59,000 Active 18 DOM
2. 2026-06-21
   days on market $59,000 Active 17 DOM
3. 2026-06-18
   days on market $59,000 Active 15 DOM
4. 2026-06-17
   days on market $59,000 Active 14 DOM
5. 2026-06-16
   days on market $59,000 Active 13 DOM
6. 2026-06-15
   days on market $59,000 Active 12 DOM
7. 2026-06-13
   days on market $59,000 Active 10 DOM
8. 2026-06-12
   days on market $59,000 Active 9 DOM
9. 2026-06-09
   days on market $59,000 Active 6 DOM
10. 2026-06-08
    days on market $59,000 Active 5 DOM
11. 2026-06-07
    days on market $59,000 Active 4 DOM
12. 2026-06-04
    remarks 519-char remark
13. 2026-06-04
    listed $59,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $11,160
• − Mortgage interest: −$3,305
• − Property taxes: −$885
• − Insurance: −$295
• − Repairs & maintenance: −$893
• − Management: −$893
• − Depreciation: −$1,716
• Taxable income: $3,173
• Est. tax owed @ 24.0%: −$762
• After-tax cash flow: $3,162/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: Lincoln Chsd 404
• NCES district ID: 1723050
• Math proficiency: 21% ▼ -9.00%
• Reading proficiency: 27% ▼ -8.00%
• Median HH income: $41,489
• Composite: 20.4/100
• National rank: #8590
• State rank: #367 of 620 in IL

Livability — Lincoln

• Score: 67/100
• State rank: #509
• US rank: #10514

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lincoln, IL
• City population: 18,364
• Population (ZIP): 18,364

Population outlook (Logan County) Hauer SSP2

• Today (2025): 28,066 people
• By 2030: 27,370 · -2.5%
• By 2040: 26,078 · -7.1%
• By 2050: 24,908 · -11.3%
• By 2075: 22,504 · -19.8%
• By 2100: 19,226 · -31.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Black 9% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Lithuanian 2% Slovak 1% Romanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Logan

• 2024 margin: Solid R (+41.5) · D 28.2% · R 69.8% · Other 2.0%
• 2008→2024 swing: -24.6pp toward R · 2008: -16.9pp · 2024: -41.5pp
• All cycles: 2024: R+41.5 2020: R+39.8 2016: R+40.1 2012: R+32.1 2008: R+16.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -181.45%
• Current HPI: 133.9499
• 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

1 event — show timeline

• 2026-06-02 Listed $59,000 RMLSA as Distributed by MLS Grid

Property tax history

+1.9%/yr

Latest (2024): $3,026 · +4.7% YoY. Source: county tax records.