703 W College St · Carbondale, IL 62901

$59,900

4 bd · 2.0 ba · 1,762 sqft · Other · 106 Days on market

Built 1950 7,500 sqft 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
• Rent growth +3.6/5.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Great investment opportunity with this 4 bedroom 2 bath home. Located just a few blocks from SIU, with a good rental history this would be a great addition to your rental portfolio. Currently leased for $1100 month, the home next door is also available to purchase for 59,900 and leased for $1200 month. Call today for more information

Key facts

• 7,500 sq ft lot
• 3 parking spots
• Built 1950

Property features AI

Finance

• Other: Lot dimensions approximately 50 x 150 (less than 0.25 acre); Living area and total finished/unfinished reported as 1,000; Unfinished basement area reported as 1,000
• Financial info: Special service area: No
• HOA & community: No master association fees required

Exterior

• Parking: 3 parking spaces
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; 1.5-story design; Fee simple ownership; Property is currently leased; Estimated age: 71–80 years; Built before 1978
• Construction: Frame construction with aluminum siding; Block foundation
• Exterior features: Front porch

Interior

• Kitchen: Eating area / table space; Range; Refrigerator
• Bedrooms: 4 bedrooms (master on main); Bedroom sizes include 12 x 10 (master), 11 x 10, 11 x 12, and 14 x 15
• Flooring: Carpet in some bedrooms and master; Vinyl in kitchen; Other flooring in two bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas forced-air heating; Central air plus window unit(s)
• Interior features: 6 total rooms; Unfinished full basement
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $60k.

Deal economics

• At list price, monthly cash flow is $503 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $55k (9.0% below list) — sets the bar for market timing.
• Cap rate 16.4% vs local median 4.9% in Carbondale — 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 70/100 on livability (#375 in IL) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, cost of living A+; Watch: housing C-, crime F, employment F.
• Carbondale Chsd 165 (urban): math 26% / reading 35% proficiency, ranked #279 of 620 in IL (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Carbondale Comm H S (math 26% / reading 35%, grade F, #175 of 693 statewide, top 26%, 997 students, 0% FRL).
• Market conditions: Rents rising fast (+4.5%/yr); 202 active listings in the ZIP; lower-income renter base — watch delinquency; 5 units permitted in Jackson County in 2024 (0 in 5+ unit buildings).
• This rent runs 40% of the median local income ($35k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $414 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.5% rent growth), your $17k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 106 days — a 9% lower offer ($55k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 26y 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.

Risks & watch-outs

• Watch-outs: built in 1950 — 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 $54,509 (9.0% below list)

Questions for the listing agent

1. It's been on market 106 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — 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 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.94% ✓
• Cap rate: 16.36%
• Cash-on-cash: 35.97%
• DSCR: 2.60
• GRM: 4.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.51% rent growth · sell at horizon

5-year hold

• IRR: 33.4%
• Equity multiple: 2.44×
• Total profit: $24,116
• Equity at exit: $8,931

10-year hold

• IRR: 41.2%
• Equity multiple: 5.17×
• Total profit: $69,869
• Equity at exit: $5,179

Cash invested: $16,772 (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 62901

• Rents YoY: 4.5%
• Active inventory: 202
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,160 medium
• Mortgage (P&I): −$314
• Tax est. 1.5%: −$75 /mo · $898/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$244
• Net cashflow: $503

Break-even live

Break-even rent $524

Max offer price $59,900

Occupancy floor 52%

Sensitivity live

Price	-10% $544	-5% $523	+0% $503	+5% $482	+10% $461
Rent	-10% $411	-5% $457	+0% $503	+5% $549	+10% $594
Rate	-1.0pp $533	-0.5pp $518	base $503	+0.5pp $487	+1.0pp $471

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-19
   days on market $59,900 Active 106 DOM
2. 2026-06-18
   days on market $59,900 Active 105 DOM
3. 2026-06-17
   days on market $59,900 Active 104 DOM
4. 2026-06-16
   days on market $59,900 Active 103 DOM
5. 2026-06-15
   days on market $59,900 Active 102 DOM
6. 2026-06-14
   days on market $59,900 Active 100 DOM
7. 2026-06-13
   days on market $59,900 Active 99 DOM
8. 2026-06-10
   days on market $59,900 Active 97 DOM
9. 2026-06-09
   days on market $59,900 Active 96 DOM
10. 2026-06-08
    days on market $59,900 Active 95 DOM
11. 2026-06-07
    days on market $59,900 Active 94 DOM
12. 2026-06-02
    days on market $59,900 Active 89 DOM
13. 2026-06-01
    days on market $59,900 Active 88 DOM
14. 2026-05-31
    days on market $59,900 Active 87 DOM
15. 2026-05-30
    days on market $59,900 Active 86 DOM
16. 2026-03-04
    listed $59,900 Active
17. 2024-10-09
    historical
18. 2024-10-08
    historical
19. 2023-11-28
    price
20. 2023-10-08
    listed Active
21. 2000-10-24
    listed $60,000
22. 2000-10-20
    soldstatus $53,933

ⓘ 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 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥107°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,924
• − Mortgage interest: −$3,355
• − Property taxes: −$898
• − Insurance: −$300
• − Repairs & maintenance: −$1,114
• − Management: −$1,114
• − Depreciation: −$1,743
• Taxable income: $5,400
• Est. tax owed @ 24.0%: −$1,296
• After-tax cash flow: $4,736/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: Carbondale Chsd 165
• NCES district ID: 1708370
• Math proficiency: 26% ▼ -10.00%
• Reading proficiency: 35% ▼ -2.00%
• Median HH income: $22,075
• Composite: 23.92/100
• National rank: #7787
• State rank: #279 of 620 in IL

Livability — Carbondale

• Score: 70/100
• State rank: #375
• US rank: #7806

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Carbondale, IL
• County: Jackson County · 22,946 people
• City population: 22,946
• Metro: Carbondale-Marion, IL
• Population (ZIP): 22,946
• Household income: $35,089
• Rent vs Own: 70.0% rent · 30.0% own
• Severe rent burden: 2038.0

Population outlook (Jackson County) Hauer SSP2

• Today (2025): 59,093 people
• By 2030: 59,628 · +0.9%
• By 2040: 59,495 · +0.7%
• By 2050: 58,811 · -0.5%
• By 2075: 57,683 · -2.4%
• By 2100: 55,337 · -6.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 59% Black 26% Asian 6% Hispanic / Latino 5% Two or more races 5%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 2% Italian 2% Slovak 2%
• Foreign-born: 9% · Canada, China, South Korea
• Languages at home: 87% English-only · Other Indo-European 4% Spanish 4% Arabic 2%

Political lean MEDSL · Jackson

• 2024 margin: Toss-up / Even · D 51.0% · R 47.5% · Other 1.4%
• 2008→2024 swing: -18.3pp toward R · 2008: 21.8pp · 2024: 3.5pp
• All cycles: 2024: D+3.5 2020: D+1.3 2016: D+3.0 2012: D+10.3 2008: D+21.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -75.62%
• Current HPI: 88.7209
• Rent YoY: ▲ 4.51%
• Metro: Carbondale-Marion, IL
• 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

+11.1% since first listed

7 events — show timeline

• 2026-03-04 Listed $59,900 MRED as Distributed by MLS Grid
• 2024-10-09 Listing Removed — RMLSA as Distributed by MLS Grid
• 2024-10-08 Listing Removed — MRED as Distributed by MLS Grid
• 2023-11-28 Price Changed — RMLSA as Distributed by MLS Grid
• 2023-10-08 Listed — RMLSA as Distributed by MLS Grid
• 2000-10-24 Listed $60,000 RMLSA as Distributed by MLS Grid
• 2000-10-20 Sold (MLS) $53,933 RMLSA as Distributed by MLS Grid

Property tax history

+2.6%/yr

Latest (2024): $3,263 · +6.4% YoY. Source: county tax records.