502 W 9th St · West Frankfort, IL 62896

$54,900

2 bd · 1.0 ba · 1,000 sqft · Other · 10 Days on market

Built 1950 8,276 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
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nicely updated 2 bed 1 bath. Newer roof, carport, corner lot. Central heat and air.

Key facts

• A/c
• Gas heat
• Large back yard

Tags

• CORNER LOT
• VINYL SIDING
• LARGE BACK YARD
• A/C
• GAS HEAT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $55k.

Deal economics

• At list price, monthly cash flow is $320 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($871 rent vs $55k).
• Cap rate 13.3% vs local median 5.8% in West Frankfort — 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 56/100 on livability (#1,210 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime D, amenities F, commute F.
• Frankfort CUSD 168 (town): math 6% / reading 16% proficiency, ranked #577 of 620 in IL (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Denning Elementary School (467 students, 0% FRL); Central Jr High School (math 4% / reading 24%, grade F, #529 of 665 statewide, top 80%, 219 students, 0% FRL); Frankfort Comm High School (math 12% / reading 12%, grade F, #511 of 693 statewide, top 75%, 434 students, 0% FRL) — zoned schools average 0% FRL vs 55% district-wide (55 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 90 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 17 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $380 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Franklin County population projected at -16% 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 $15k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 17y 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→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $54,900

Questions for the listing agent

1. Built in 1950 — 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 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?
4. Crime grade is D 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?
5. 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.
6. 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.
7. 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: 1.59% ✓
• Cap rate: 13.29%
• Cash-on-cash: 24.97%
• DSCR: 2.11
• GRM: 5.2

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: 18.4%
• Equity multiple: 1.75×
• Total profit: $11,485
• Equity at exit: $8,186

10-year hold

• IRR: 26.8%
• Equity multiple: 3.36×
• Total profit: $36,263
• Equity at exit: $4,747

Cash invested: $15,372 (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 62896

• Active inventory: 90
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $871 medium
• Mortgage (P&I): −$288
• Tax from tax record: −$58 /mo · $694/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$183
• Net cashflow: $320

Break-even live

Break-even rent $467

Max offer price $54,900

Occupancy floor 58%

Sensitivity live

Price	-10% $351	-5% $335	+0% $320	+5% $304	+10% $289
Rent	-10% $251	-5% $285	+0% $320	+5% $354	+10% $389
Rate	-1.0pp $348	-0.5pp $334	base $320	+0.5pp $306	+1.0pp $291

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: $13,725
• Closing costs: $1,647
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5 Razer Dr Unit 1 West Frankfort, IL	2.0	1.5	1100	$900	$0.82	45d	1	0.78mi
403 E Poplar St West Frankfort, IL	3.0	1.0	1200	$900	$0.75	45d	1	0.85mi
411 N Cochran St West Frankfort, IL	2.0	1.0	960	$795	$0.83	45d	1	1.20mi

Listing history 10 events

1. 2026-04-10
   status Pending
2. 2026-03-30
   listed $54,900 Active
3. 2024-03-08
   soldstatus $73,000 83-char remark

   Show marketing remark (83 chars)

   Nicely updated 2 bed 1 bath. Newer roof, carport, corner lot. Central heat and air.

4. 2024-03-08
   soldstatus $73,000 Closed 83-char remark

   Show marketing remark (83 chars)

   Nicely updated 2 bed 1 bath. Newer roof, carport, corner lot. Central heat and air.

5. 2024-01-12
   historical Under Contract 83-char remark

   Show marketing remark (83 chars)

   Nicely updated 2 bed 1 bath. Newer roof, carport, corner lot. Central heat and air.

6. 2024-01-02
   price $72,000 83-char remark

   Show marketing remark (83 chars)

   Nicely updated 2 bed 1 bath. Newer roof, carport, corner lot. Central heat and air.

7. 2023-10-30
   listed $72,000 83-char remark

   Show marketing remark (83 chars)

   Nicely updated 2 bed 1 bath. Newer roof, carport, corner lot. Central heat and air.

8. 2023-10-30
   listed $82,000 Active 83-char remark

   Show marketing remark (83 chars)

   Nicely updated 2 bed 1 bath. Newer roof, carport, corner lot. Central heat and air.

9. 2009-11-19
   soldstatus $22,000 18-char remark

   Show marketing remark (18 chars)

   Great starter home

10. 2009-11-16
    listed $22,000 18-char remark

    Show marketing remark (18 chars)

    Great starter home

ⓘ 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: $694 · $58/mo
• Projected year-2 tax: $970 · $81/mo
• Expected delta: +$276/yr (+$23/mo · 39.8%)

ⓘ 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 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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,458
• − Mortgage interest: −$3,075
• − Property taxes: −$694
• − Insurance: −$274
• − Repairs & maintenance: −$837
• − Management: −$837
• − Depreciation: −$1,597
• Taxable income: $3,144
• Est. tax owed @ 24.0%: −$755
• After-tax cash flow: $3,084/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: Frankfort CUSD 168
• NCES district ID: 1741580
• Math proficiency: 6% ▼ -9.00%
• Reading proficiency: 16% ▼ -10.00%
• Median HH income: $34,447
• Composite: 8.93/100
• National rank: #9886
• State rank: #577 of 620 in IL

Livability — West Frankfort

• Score: 56/100
• State rank: #1210
• US rank: #22742

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Frankfort, IL
• City population: 10,691
• Population (ZIP): 10,691

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 37,954 people
• By 2030: 36,828 · -3.0%
• By 2040: 34,452 · -9.2%
• By 2050: 31,855 · -16.1%
• By 2075: 25,171 · -33.7%
• By 2100: 18,462 · -51.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 2%
• Common ancestry: Romanian 2% Lithuanian 1% Iranian 1%
• Foreign-born: 1% · Canada, Jamaica
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Franklin

• 2024 margin: Solid R (+50.6) · D 24.1% · R 74.6% · Other 1.3%
• 2008→2024 swing: -47.8pp toward R · 2008: -2.8pp · 2024: -50.6pp
• All cycles: 2024: R+50.6 2020: R+47.5 2016: R+45.3 2012: R+16.8 2008: R+2.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -94.00%
• Current HPI: 86.36
• 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

+149.5% since first listed

10 events — show timeline

• 2026-04-10 Pending — MRED as Distributed by MLS Grid
• 2026-03-30 Listed $54,900 MRED as Distributed by MLS Grid
• 2024-03-08 Sold (MLS) $73,000 RMLSA as Distributed by MLS Grid
• 2024-03-08 Sold (MLS) $73,000 MRED as Distributed by MLS Grid
• 2024-01-12 Contingent — RMLSA as Distributed by MLS Grid
• 2024-01-02 Price Changed $72,000 RMLSA as Distributed by MLS Grid
• 2023-10-30 Listed $82,000 RMLSA as Distributed by MLS Grid
• 2023-10-30 Listed $72,000 MRED as Distributed by MLS Grid
• 2009-11-19 Sold (MLS) $22,000 MRED as Distributed by MLS Grid
• 2009-11-16 Listed $22,000 MRED as Distributed by MLS Grid

Property tax history

+4.3%/yr

Latest (2024): $694 · +8.1% YoY. Source: county tax records.