202 Lincoln St · Karnak, IL 62956

$64,900

2 bd · 1.0 ba · 1,120 sqft · SingleFamily public records · 51 Days on market

Built 1930 10,018 sqft lot $58/sqft · 59% above area Est $47k · 37% over

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Why this score? — see what drove the C+ 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
• Appreciation +5.0/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• ARV discount +0.0/15.0

Listing remarks

Take a look at this cozy home with its enclosed front porch then into through the solid oval glass door to the living room , with a short hallway that leads into the kitchen dining room combination. The kitchen has custom cabinets and a newer counter top with a stationary island. The laundry room just off of the kitchen has a washer, dryer and an upright freezer. 2 bedrooms are next to the living room and the bathroom is right off the hallway. At the back of the dining room are double doors with several windows then step down to a concreate patio onlooking a portion of the back yard with a white privacy fence enclosing it. With a portable 10x20 foot building at one corner and then the detac

Key facts

• 0.23 acre lot
• 2 garage spots
• Built 1930

Property features AI

Finance

• Other: Property is not currently leased; Not rebuilt or rehabilitated; Parcel information on record; Directions: North on US-45 from Metropolis, left on IL-169 into Karnak, left on 1st St, left on Lincoln St — 2nd house on the right.
• HOA & community: No master association fee required; Community features: sidewalks, street lights, paved streets

Exterior

• Parking: Detached garage (owned) with garage door opener; Tandem garage configuration; Driveway and off-street parking; Direct garage access; Total parking for about 5 vehicles; 2 garage spaces
• Utilities: Public water; Public sewer; Electric service
• Home design: Detached single-family home; One-story (earth); Built approximately 91–100 years ago; Fee simple ownership; Metal roof; Pillar/post/pier foundation; Masonite exterior
• Construction: Built before 1978; Masonite construction; Metal roof; Pillar/post/pier foundation
• Exterior features: Exterior lighting; Partial fencing; Level lot; School bus service available

Interior

• Kitchen: Island; Walk-in pantry; Custom cabinetry; Solid surface counters; Range / Gas oven; High-end refrigerator; Freezer
• Bedrooms: Master bedroom (main level) — 12 x 11, carpeted; Second bedroom (main level) — 11 x 10; Additional bedrooms listed but not detailed
• Flooring: Carpet in master bedroom and other areas; Laminate in living and dining areas; Linoleum in kitchen, enclosed porch and laundry
• Bathrooms: One full bathroom with soaking tub and accessible shower
• Heating & cooling: Natural gas heating; Electric heating; Central air conditioning (electric)
• Interior features: First-floor bedroom; First-floor full bath; Dining area combined with kitchen; Storm door(s); Drapes; Unfinished attic; Kitchen/dining combo; One fireplace with gas log (living room)
• Laundry & utility: Main-level laundry; Laundry closet; Electric dryer hookup; Washer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $321 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($974 rent vs $65k).
• Recommended offer: $63k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 58/100 on livability (#1,084 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: employment D+, schools F, crime F.
• Century CUSD 100 (rural): math 6% / reading 10% proficiency, ranked #836 of 919 in IL (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 3 active listings in the ZIP.

Forward outlook

• In year one you build about $2k of equity ($449 loan paydown + $2k appreciation (3.0% local appreciation)).
• Pulaski County population projected at -38% 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 $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($63k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $62,953 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.50% ✓
• Cap rate: 12.22%
• Cash-on-cash: 21.18%
• DSCR: 1.94
• GRM: 5.6

CMA / ARV

• ARV (median comp): $47,340
• List price: $64,900
• Delta: 37.09%
• Verdict: OVERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
203 E Main St	0.10mi	2/1.0	1,068 (-5%)	9mo	$36,000	$34	80

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: 27.4%
• Equity multiple: 2.55×
• Total profit: $28,257
• Equity at exit: $29,182

10-year hold

• IRR: 28.0%
• Equity multiple: 4.96×
• Total profit: $71,998
• Equity at exit: $44,973

Cash invested: $18,172 (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 62956

• Active inventory: 3
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $974 medium
• Mortgage (P&I): −$340
• Tax est. 1.5%: −$81 /mo · $974/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$204
• Net cashflow: $321

Break-even live

Break-even rent $568

Max offer price $64,900

Occupancy floor 62%

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: $16,225
• Closing costs: $1,947
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $64,900 Active 51 DOM
2. 2026-06-17
   days on market $64,900 Active 50 DOM
3. 2026-06-16
   days on market $64,900 Active 49 DOM
4. 2026-06-15
   days on market $64,900 Active 48 DOM
5. 2026-06-13
   days on market $64,900 Active 46 DOM
6. 2026-06-12
   days on market $64,900 Active 45 DOM
7. 2026-06-09
   days on market $64,900 Active 42 DOM
8. 2026-06-08
   days on market $64,900 Active 41 DOM
9. 2026-06-07
   days on market $64,900 Active 40 DOM
10. 2026-06-05
    days on market $64,900 Active 38 DOM
11. 2026-06-04
    days on market $64,900 Active 36 DOM
12. 2026-06-02
    days on market $64,900 Active 35 DOM
13. 2026-06-01
    days on market $64,900 Active 34 DOM
14. 2026-05-31
    days on market $64,900 Active 33 DOM
15. 2026-05-31
    days on market $64,900 Active 32 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 5% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,684
• − Mortgage interest: −$3,635
• − Property taxes: −$974
• − Insurance: −$324
• − Repairs & maintenance: −$935
• − Management: −$935
• − Depreciation: −$1,888
• Taxable income: $2,993
• Est. tax owed @ 24.0%: −$718
• After-tax cash flow: $3,130/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: Century CUSD 100
• NCES district ID: 1739630
• Math proficiency: 6% ▬ 0.00%
• Reading proficiency: 10% ▼ -5.00%
• Median HH income: $38,087
• Composite: 10.56/100
• National rank: #14662
• State rank: #836 of 919 in IL

Livability — Karnak

• Score: 58/100
• State rank: #1084
• US rank: #20642

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Karnak, IL
• Population (ZIP): 1,155

Population outlook (Pulaski County) Hauer SSP2

• Today (2025): 4,927 people
• By 2030: 4,542 · -7.8%
• By 2040: 3,752 · -23.8%
• By 2050: 3,081 · -37.5%
• By 2075: 1,982 · -59.8%
• By 2100: 1,365 · -72.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 11% Black 3%
• Common ancestry: Serbian 4% Iranian 1% Danish 1%

Political lean MEDSL · Pulaski

• 2024 margin: Solid R (+34.2) · D 32.4% · R 66.6% · Other 1.1%
• 2008→2024 swing: -35.6pp toward R · 2008: 1.4pp · 2024: -34.2pp
• All cycles: 2024: R+34.2 2020: R+30.7 2016: R+31.0 2012: R+5.8 2008: D+1.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

• 2026-06-19 Price Changed $59,900 MRED as Distributed by MLS Grid

Property tax history

+13.5%/yr

Latest (2024): $12 · +0.0% YoY. Source: county tax records.