1804 W Copeland St · Marion, IL 62959

$144,000

2 bd · 1.5 ba · 1,558 sqft · SingleFamily · 104 Days on market

Built 1945 9,147 sqft lot $92/sqft · at area comps Est $151k · at est.

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Why this score? — see what drove the D 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 +13.8/30.0
• ARV discount +9.6/15.0
• Rent growth +4.6/5.0
• DSCR +4.2/10.0
• Livability +3.1/5.0
• 1% rule +3.0/10.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 2 bedroom brick home located on a corner lot. This well maintained home has a half bath off the master bedroom. Kitchen was recently updated. Outside you will find a carport, storage building and a fenced in yard. Call today to see this move in ready home.

Key facts

• Half bath
• Storage building
• Carport

Tags

• CORNER LOT
• HALF BATH
• UPDATED KITCHEN
• CARPORT
• STORAGE BUILDING
• FENCED IN YARD

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $144k.

Deal economics

• At list price, monthly cash flow is $12 ($146/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $116k (19.6% below list).
• Recommended offer: $116k (19.6% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 3.8% in Marion — 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 61/100 on livability (#896 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D, crime F, amenities F.
• Marion CUSD 2 (urban): math 20% / reading 31% proficiency, ranked #317 of 620 in IL (top 51%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Lincoln Elem School (math 22% / reading 32%, grade F, #749 of 2,056 statewide, top 40%, 487 students, 0% FRL); Marion Jr High School (math 16% / reading 31%, grade F, #371 of 665 statewide, top 56%, 726 students, 0% FRL); Marion High School (math 14% / reading 18%, grade F, #457 of 693 statewide, top 66%, 1,159 students, 0% FRL) — zoned schools average 0% FRL vs 47% district-wide (47 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+8.4%/yr); 229 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 130 units permitted in Williamson County in 2024 (5 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $996 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 104 days — a 9% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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.
• Current owner paid $105k; 37% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $115,789 (19.6% below list)

Questions for the listing agent

1. It's been on market 104 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
2. Built in 1945 — 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. 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.80% ✗
• Cap rate: 6.39%
• Cash-on-cash: 0.36%
• DSCR: 1.02
• GRM: 10.4

CMA / ARV

• ARV (median comp): $151,075
• List price: $144,000
• Delta: -4.68%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
809 Dogwood Ln	0.28mi	3/2.0 (+1)	1,570 (+1%)	2mo	$200,000	$127	77
1704 W Copeland St St	0.12mi	3/2.0 (+1)	1,624 (+4%)	5mo	$159,000	$98	76
506 S Aikman St	0.42mi	3/2.0 (+1)	1,616 (+4%)	7mo	$190,000	$118	62
1104 N Midway Ct	0.49mi	3/2.0 (+1)	1,450 (-7%)	1mo	$189,000	$130	58
805 Dogwood Ln	0.26mi	3/2.0 (+1)	1,400 (-10%)	11mo	$199,000	$142	55
414 Charlotte Rd	0.17mi	3/2.0 (+1)	1,346 (-14%)	11mo	$152,000	$113	53
1906 Julianne Dr	0.43mi	3/2.0 (+1)	1,493 (-4%)	15mo	$210,000	$141	53
1203 W White St	0.73mi	3/1.0 (+1)	1,468 (-6%)	8mo	$138,500	$94	42
506 S Vicksburg St	0.60mi	3/2.0 (+1)	1,440 (-8%)	12mo	$133,500	$93	42
1601 Turnage Ln	0.41mi	3/2.0 (+1)	1,745 (+12%)	14mo	$225,000	$129	42
1306 Laura Ln	0.64mi	3/2.0 (+1)	1,400 (-10%)	8mo	$205,000	$146	39
1704 Carol Dr	0.49mi	3/2.0 (+1)	1,788 (+15%)	8mo	$159,200	$89	38

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -10.8%
• Equity multiple: 0.59×
• Total profit: $-16,477
• Equity at exit: $21,471

10-year hold

• IRR: 4.1%
• Equity multiple: 1.36×
• Total profit: $14,343
• Equity at exit: $12,450

Cash invested: $40,320 (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 62959

• Rents YoY: 8.4%
• Active inventory: 229
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $1,158 medium
• Mortgage (P&I): −$755
• Tax from tax record: −$87 /mo · $1,049/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$243
• Net cashflow: $12

Break-even live

Break-even rent $1,142

Max offer price $144,000

Occupancy floor 94%

Sensitivity live

Price	-10% $94	-5% $53	+0% $12	+5% $-29	+10% $-69
Rent	-10% $-79	-5% $-34	+0% $12	+5% $58	+10% $104
Rate	-1.0pp $85	-0.5pp $49	base $12	+0.5pp $-25	+1.0pp $-63

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: $36,000
• Closing costs: $4,320
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1501 W Central St Marion, IL	2.0	2.0	1175	$1,175	$1.00	45d	1	0.67mi

Listing history 27 events

1. 2026-06-21
   days on market $144,000 Active 104 DOM
2. 2026-06-19
   days on market $144,000 Active 102 DOM
3. 2026-06-18
   days on market $144,000 Active 101 DOM
4. 2026-06-17
   days on market $144,000 Active 100 DOM
5. 2026-06-16
   days on market $144,000 Active 99 DOM
6. 2026-06-15
   status $144,000 Active 98 DOM
7. 2026-06-15
   days on market $144,000 Contingent - Continue to Show 98 DOM
8. 2026-06-14
   days on market $144,000 Contingent - Continue to Show 96 DOM
9. 2026-06-13
   days on market $144,000 Contingent - Continue to Show 95 DOM
10. 2026-06-10
    days on market $144,000 Contingent - Continue to Show 93 DOM
11. 2026-06-09
    days on market $144,000 Contingent - Continue to Show 92 DOM
12. 2026-06-09
    days on market $144,000 Contingent - Continue to Show 91 DOM
13. 2026-06-07
    days on market $144,000 Contingent - Continue to Show 90 DOM
14. 2026-06-05
    days on market $144,000 Contingent - Continue to Show 87 DOM
15. 2026-06-03
    days on market $144,000 Contingent - Continue to Show 86 DOM
16. 2026-06-02
    days on market $144,000 Contingent - Continue to Show 85 DOM
17. 2026-06-01
    days on market $144,000 Contingent - Continue to Show 84 DOM
18. 2026-05-31
    days on market $144,000 Contingent - Continue to Show 83 DOM
19. 2026-05-30
    days on market $144,000 Contingent - Continue to Show 82 DOM
20. 2026-05-12
    price $144,000 268-char remark

    Show marketing remark (268 chars)

    Charming 2 bedroom brick home located on a corner lot. This well maintained home has a half bath off the master bedroom. Kitchen was recently updated. Outside you will find a carport, storage building and a fenced in yard. Call today to see this move in ready home.

21. 2026-03-09
    listed $149,500 Active 268-char remark

    Show marketing remark (268 chars)

    Charming 2 bedroom brick home located on a corner lot. This well maintained home has a half bath off the master bedroom. Kitchen was recently updated. Outside you will find a carport, storage building and a fenced in yard. Call today to see this move in ready home.

22. 2024-09-12
    soldstatus $105,000
23. 2024-09-11
    soldstatus $105,000 Closed 602-char remark

    Show marketing remark (602 chars)

    Check out this 2 bedroom brick home located on a corner lot in Marion. This home features a large updated eat- in kitchen as well as an additional dining room for gatherings and entertaining guests. There is a spacious living room with ample natural light. The primary bedroom has an attached private half bath in addition to the homes full bath. The extra large utility room has a washer and dryer, a shower and provides lots of additional storage as well as the building in the partially fenced yard. This home has great potential with some TLC it could be your new home or an investment opportunity.

24. 2024-09-11
    soldstatus $105,000 602-char remark

    Show marketing remark (602 chars)

    Check out this 2 bedroom brick home located on a corner lot in Marion. This home features a large updated eat- in kitchen as well as an additional dining room for gatherings and entertaining guests. There is a spacious living room with ample natural light. The primary bedroom has an attached private half bath in addition to the homes full bath. The extra large utility room has a washer and dryer, a shower and provides lots of additional storage as well as the building in the partially fenced yard. This home has great potential with some TLC it could be your new home or an investment opportunity.

25. 2024-07-27
    historical Under Contract 602-char remark

    Show marketing remark (602 chars)

    Check out this 2 bedroom brick home located on a corner lot in Marion. This home features a large updated eat- in kitchen as well as an additional dining room for gatherings and entertaining guests. There is a spacious living room with ample natural light. The primary bedroom has an attached private half bath in addition to the homes full bath. The extra large utility room has a washer and dryer, a shower and provides lots of additional storage as well as the building in the partially fenced yard. This home has great potential with some TLC it could be your new home or an investment opportunity.

26. 2024-06-10
    listed $110,000 Active 602-char remark

    Show marketing remark (602 chars)

    Check out this 2 bedroom brick home located on a corner lot in Marion. This home features a large updated eat- in kitchen as well as an additional dining room for gatherings and entertaining guests. There is a spacious living room with ample natural light. The primary bedroom has an attached private half bath in addition to the homes full bath. The extra large utility room has a washer and dryer, a shower and provides lots of additional storage as well as the building in the partially fenced yard. This home has great potential with some TLC it could be your new home or an investment opportunity.

27. 2024-06-10
    listed $110,000 602-char remark

    Show marketing remark (602 chars)

    Check out this 2 bedroom brick home located on a corner lot in Marion. This home features a large updated eat- in kitchen as well as an additional dining room for gatherings and entertaining guests. There is a spacious living room with ample natural light. The primary bedroom has an attached private half bath in addition to the homes full bath. The extra large utility room has a washer and dryer, a shower and provides lots of additional storage as well as the building in the partially fenced yard. This home has great potential with some TLC it could be your new home or an investment opportunity.

ⓘ 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: $1,049 · $87/mo
• Projected year-2 tax: $2,159 · $180/mo
• Expected delta: +$1,110/yr (+$93/mo · 105.9%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥107°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,895
• − Mortgage interest: −$8,066
• − Property taxes: −$1,049
• − Insurance: −$720
• − Repairs & maintenance: −$1,112
• − Management: −$1,112
• − Depreciation: −$4,189
• Taxable loss: −$2,352
• Est. tax savings @ 24.0%: +$565
• After-tax cash flow: $711/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: Marion CUSD 2
• NCES district ID: 1724600
• Math proficiency: 20% ▼ -11.00%
• Reading proficiency: 31% ▼ -11.00%
• Median HH income: $46,221
• Composite: 22.07/100
• National rank: #8189
• State rank: #317 of 620 in IL

Livability — Marion

• Score: 61/100
• State rank: #896
• US rank: #17434

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Marion, IL
• County: Williamson County · 38,451 people
• City population: 27,793
• Metro: Carbondale-Marion, IL
• Population (ZIP): 27,793
• Household income: $71,063
• Rent vs Own: 29.0% rent · 71.0% own
• Severe rent burden: 763.0

Population outlook (Williamson County) Hauer SSP2

• Today (2025): 69,553 people
• By 2030: 70,090 · +0.8%
• By 2040: 70,345 · +1.1%
• By 2050: 69,394 · -0.2%
• By 2075: 63,590 · -8.6%
• By 2100: 51,154 · -26.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Black 5% Two or more races 4% Hispanic / Latino 3% Asian 2%
• Common ancestry: Lithuanian 2% Italian 2% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Asian/Pacific 1% Other Indo-European 1%

Political lean MEDSL · Williamson

• 2024 margin: Solid R (+38.8) · D 30.0% · R 68.8% · Other 1.3%
• 2008→2024 swing: -24.0pp toward R · 2008: -14.8pp · 2024: -38.8pp
• All cycles: 2024: R+38.8 2020: R+37.3 2016: R+41.2 2012: R+25.0 2008: R+14.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -76.41%
• Current HPI: 137.5955
• Rent YoY: ▲ 8.40%
• 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

+30.9% since first listed

8 events — show timeline

• 2026-05-12 Price Changed $144,000 MRED as Distributed by MLS Grid
• 2026-03-09 Listed $149,500 MRED as Distributed by MLS Grid
• 2024-09-12 Sold (Public Records) $105,000 Public Records
• 2024-09-11 Sold (MLS) $105,000 MRED as Distributed by MLS Grid
• 2024-09-11 Sold (MLS) $105,000 RMLSA as Distributed by MLS Grid
• 2024-07-27 Contingent — RMLSA as Distributed by MLS Grid
• 2024-06-10 Listed $110,000 MRED as Distributed by MLS Grid
• 2024-06-10 Listed $110,000 RMLSA as Distributed by MLS Grid

Property tax history

+0.6%/yr

Latest (2025): $1,049 · -5.5% YoY. Source: county tax records.