408 W Chestnut St · Carbondale, IL 62901

$60,000

1 bd · 1.5 ba · 1,066 sqft · SingleFamily public records

Built 1978 4,356 sqft lot Est $103k · 42% under

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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 +28.1/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.7/10.0
• 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

Investment opportunity in the heart of Carbondale. This property is tenant occupied property with steady rental income already in place. This charming home features classic details and a functional layout, making it a solid long term addition to any portfolio. Located close to downtown, SIU, public transportation, and local shops, this property is positioned for consistent tenant demand. Property is sold as is. Whether you're expanding your rental holdings or looking to break into the market, this income producing property is worth a look! Rent - $800/mo. Please allow 48 hours for showings. Leased through 08/12/26. Room measurements not accurate, updates coming soon.

Key facts

• 4,356 sq ft lot
• Built 1978

🏷️ Possibly a rental listed for sale. The $60,000 price doesn't fit this home's estimated sale value (~$103,402) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $188 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($762 rent vs $60k).
• Cap rate 10.0% 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; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 5 units permitted in Jackson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $415 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 ~8 years — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 $30k; list at $60k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $60,000

Questions for the listing agent

1. Built in 1978 — 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. 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?
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: 1.27% ✓
• Cap rate: 10.04%
• Cash-on-cash: 13.40%
• DSCR: 1.60
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $103,402
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
620 N Almond St	0.13mi	2/2.0 (+1)	1,056 (-1%)	5mo	$109,000	$103	81
603 N Allyn St	0.20mi	2/2.0 (+1)	1,088 (+2%)	2mo	$119,500	$110	79
705 N Bridge St	0.03mi	2/1.0 (+1)	960 (-10%)	1mo	$99,395	$104	74
614 N Springer St	0.17mi	2/1.0 (+1)	972 (-9%)	0mo	$94,000	$97	70
300 N Oakland Ave	0.40mi	2/1.0 (+1)	1,018 (-4%)	4mo	$30,000	$29	64
406 N Washington St	0.39mi	2/1.0 (+1)	1,172 (+10%)	8mo	$15,000	$13	52
1007 W Willow St	0.37mi	2/1.5 (+1)	925 (-13%)	7mo	$98,580	$107	50
1007 W Willow St	0.37mi	2/1.5 (+1)	925 (-13%)	7mo	$98,580	$107	50
710 N Billy Bryan St	0.56mi	2/1.0 (+1)	1,142 (+7%)	11mo	$98,500	$86	46
407 W Elm St	0.61mi	2/1.0 (+1)	924 (-13%)	10mo	$40,000	$43	34
407 W Elm St	0.61mi	2/1.0 (+1)	924 (-13%)	10mo	$40,000	$43	34
505 W Cherry St	0.68mi	2/1.5 (+1)	1,219 (+14%)	8mo	$35,000	$29	33

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 · 4.51% rent growth · sell at horizon

5-year hold

• IRR: 5.1%
• Equity multiple: 1.20×
• Total profit: $3,413
• Equity at exit: $8,946

10-year hold

• IRR: 15.9%
• Equity multiple: 2.39×
• Total profit: $23,379
• Equity at exit: $5,188

Cash invested: $16,800 (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: 6.6×

Monthly cashflow live

• Estimated rent: $762 medium
• Mortgage (P&I): −$315
• Tax est. 1.5%: −$75 /mo · $900/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$160
• Net cashflow: $188

Break-even live

Break-even rent $525

Max offer price $60,000

Occupancy floor 70%

Sensitivity live

Price	-10% $229	-5% $208	+0% $188	+5% $167	+10% $146
Rent	-10% $127	-5% $157	+0% $188	+5% $218	+10% $248
Rate	-1.0pp $218	-0.5pp $203	base $188	+0.5pp $172	+1.0pp $156

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
250 S Lewis Ln Carbondale, IL	3.0	1.0	622	$550	$0.88	44d	1	1.39mi

Listing history 17 events

1. 2026-05-24
   status Pending
2. 2026-05-24
   status Pending
3. 2026-05-22
   status Pending
4. 2026-03-05
   soldstatus $30,000 Closed
5. 2026-03-05
   soldstatus $30,000 Closed
6. 2026-03-05
   soldstatus $30,000 Closed
7. 2026-03-05
   soldstatus $30,000 Closed
8. 2026-03-05
   soldstatus $120,000
9. 2026-01-08
   status Pending
10. 2026-01-05
    historical
11. 2025-11-06
    status Pending
12. 2025-11-05
    historical
13. 2025-11-05
    historical
14. 2025-07-01
    listed $60,000
15. 2025-07-01
    listed Active
16. 2023-07-07
    historical
17. 2022-03-11
    historical

ⓘ 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 5/10 Major 7 d/yr ≥107°F today · 21 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: $9,148
• − Mortgage interest: −$3,361
• − Property taxes: −$900
• − Insurance: −$300
• − Repairs & maintenance: −$732
• − Management: −$732
• − Depreciation: −$1,745
• Taxable income: $1,378
• Est. tax owed @ 24.0%: −$331
• After-tax cash flow: $1,921/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

+100.0% since first listed

17 events — show timeline

• 2026-05-24 Pending — MRED as Distributed by MLS Grid
• 2026-05-24 Pending — MRED as Distributed by MLS Grid
• 2026-05-22 Pending — MRED as Distributed by MLS Grid
• 2026-03-05 Sold (Public Records) $120,000 Public Records
• 2026-03-05 Sold (MLS) $30,000 MRED as Distributed by MLS Grid
• 2026-03-05 Sold (MLS) $30,000 MRED as Distributed by MLS Grid
• 2026-03-05 Sold (MLS) $30,000 MRED as Distributed by MLS Grid
• 2026-03-05 Sold (MLS) $30,000 MRED as Distributed by MLS Grid
• 2026-01-08 Pending — MRED as Distributed by MLS Grid
• 2026-01-05 Listing Removed — MRED as Distributed by MLS Grid
• 2025-11-06 Pending — RMLSA as Distributed by MLS Grid
• 2025-11-05 Listing Removed — RMLSA as Distributed by MLS Grid
• 2025-11-05 Listing Removed — MRED as Distributed by MLS Grid
• 2025-07-01 Listed — RMLSA as Distributed by MLS Grid
• 2025-07-01 Listed $60,000 MRED as Distributed by MLS Grid
• 2023-07-07 Listing Removed — MRED as Distributed by MLS Grid
• 2022-03-11 Listing Removed — RMLSA as Distributed by MLS Grid

Property tax history

+2.9%/yr

Latest (2024): $3,067 · +6.4% YoY. Source: county tax records.