404 S Perrine · Centralia, IL 62801

$60,000

2 bd · 1.0 ba · 1,344 sqft · SingleFamily public records · 3 Days on market

Built 1923 10,018 sqft lot

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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 +27.6/30.0
• DSCR +9.7/10.0
• 1% rule +8.3/10.0
• ARV discount +7.5/15.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Older home in average condition needs some updating, would make a good rental or investor to rehab for resale. Basement is considerably dry for this age of home. Good started home Refrigerator, stove, washer, dryer

Key facts

• Finished space
• Double lot
• 0.23 acre lot

Tags

• DOUBLE LOT
• FINISHED SPACE

Property features AI

Finance

• Other: Parcel numbers on file; Lot dimensions approximately 97 x 101.8 (less than 0.25 acre)
• HOA & community: No master association fees required

Exterior

• Parking: Two parking spaces; Gravel parking area
• Utilities: Public water; Public sewer; Electric with circuit breakers
• Home design: Detached single-family home; One-story; Fee simple ownership; Property older than 100 years; Built before 1978
• Construction: Asphalt roof; Other construction materials
• Exterior features: School bus service available

Interior

• Kitchen: Range; Microwave; Refrigerator; Main-level kitchen
• Bedrooms: Two bedrooms (both on the main level); Master bedroom on the main level
• Flooring: Hardwood flooring in living and dining rooms; Vinyl flooring in bedrooms and master bedroom; Laminate flooring in kitchen
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Five total rooms; Unfinished and partial basement; Separate dining room; One fireplace located in the living room
• Laundry & utility: In-unit laundry (basement laundry room)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $180 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($800 rent vs $60k).
• Cap rate 9.9% vs local median 5.8% in Centralia — 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 68/100 on livability (#481 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute F.
• Centralia Hsd 200 (town): math 21% / reading 26% proficiency, ranked #668 of 919 in IL (top 73%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Jordan Elem School (math 12% / reading 12%, grade F, #1,403 of 2,056 statewide, top 71%, 221 students, 0% FRL); Centralia Jr High School (math 7% / reading 22%, grade F, #517 of 665 statewide, top 79%, 604 students, 0% FRL); Centralia High School (math 22% / reading 17%, grade F, #397 of 693 statewide, top 61%, 863 students, 0% FRL).
• Market conditions: 107 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2 units permitted in Marion 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.
• Marion County population projected at -20% 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 $17k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 8y 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 $18k; list at $60k implies a 224% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $60,000

Questions for the listing agent

1. Built in 1923 — 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: 1.33% ✓
• Cap rate: 9.89%
• Cash-on-cash: 12.84%
• DSCR: 1.57
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $134,400
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
426 Marquis Ave	0.13mi	2/1.0	1,300 (-3%)	7mo	$105,000	$81	83
1444 E 4th St	0.36mi	3/2.0 (+1)	1,344 (0%)	1mo	$136,000	$101	73
1101 E 4th St	0.10mi	2/2.0	1,420 (+6%)	14mo	$106,500	$75	70
962 E Broadway	0.27mi	3/1.5 (+1)	1,404 (+4%)	4mo	$30,000	$21	70
214 S Pine St	0.39mi	2/2.0	1,326 (-1%)	14mo	$120,000	$90	64
610 Short St	0.35mi	3/1.0 (+1)	1,440 (+7%)	8mo	$125,000	$87	60
1100 E 3rd St	0.15mi	3/2.0 (+1)	1,460 (+9%)	15mo	$149,900	$103	57
321 S Maple St	0.52mi	2/2.0	1,300 (-3%)	11mo	$39,900	$31	57
6 Charles Dr	0.30mi	3/1.5 (+1)	1,500 (+12%)	6mo	$164,000	$109	54
629 Oakdale Dr	0.57mi	2/1.0	1,493 (+11%)	7mo	$149,900	$100	49
5 Ronnie	0.63mi	2/2.0	1,212 (-10%)	6mo	$158,000	$130	45
27 Mitchell Ave	0.58mi	3/2.0 (+1)	1,248 (-7%)	11mo	$140,000	$112	42

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: 2.7%
• Equity multiple: 1.10×
• Total profit: $1,759
• Equity at exit: $8,946

10-year hold

• IRR: 12.3%
• Equity multiple: 1.98×
• Total profit: $16,413
• 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 62801

• Home prices YoY: -13.9%
• Active inventory: 107
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $800 medium
• Mortgage (P&I): −$315
• Tax from tax record: −$113 /mo · $1,352/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$168
• Net cashflow: $180

Break-even live

Break-even rent $573

Max offer price $60,000

Occupancy floor 73%

Sensitivity live

Price	-10% $214	-5% $197	+0% $180	+5% $163	+10% $146
Rent	-10% $117	-5% $148	+0% $180	+5% $211	+10% $243
Rate	-1.0pp $210	-0.5pp $195	base $180	+0.5pp $164	+1.0pp $148

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
805 S Hickory St Centralia, IL	3.0	2.0	1814	$800	$0.44	45d	1	1.15mi

Listing history 9 events

1. 2026-06-01
   status $60,000 Pending 3 DOM
2. 2026-06-01
   days on market $60,000 Active 3 DOM
3. 2026-05-31
   days on market $60,000 Active 2 DOM
4. 2026-05-29
   listed $60,000 Active
5. 2021-08-06
   historical
6. 2018-03-02
   soldstatus $18,500 214-char remark

   Show marketing remark (214 chars)

   Older home in average condition needs some updating, would make a good rental or investor to rehab for resale. Basement is considerably dry for this age of home. Good started home Refrigerator, stove, washer, dryer

7. 2018-03-02
   soldstatus $18,500 214-char remark

   Show marketing remark (214 chars)

   Older home in average condition needs some updating, would make a good rental or investor to rehab for resale. Basement is considerably dry for this age of home. Good started home Refrigerator, stove, washer, dryer

8. 2018-01-22
   listed $25,000 214-char remark

   Show marketing remark (214 chars)

   Older home in average condition needs some updating, would make a good rental or investor to rehab for resale. Basement is considerably dry for this age of home. Good started home Refrigerator, stove, washer, dryer

9. 2018-01-22
   listed $25,000 214-char remark

   Show marketing remark (214 chars)

   Older home in average condition needs some updating, would make a good rental or investor to rehab for resale. Basement is considerably dry for this age of home. Good started home Refrigerator, stove, washer, dryer

ⓘ 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: $1,352 · $113/mo
• Projected year-2 tax: $1,357 · $113/mo
• Expected delta: +$5/yr ($0/mo · 0.4%)

ⓘ 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 4/10 Moderate 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,600
• − Mortgage interest: −$3,361
• − Property taxes: −$1,352
• − Insurance: −$300
• − Repairs & maintenance: −$768
• − Management: −$768
• − Depreciation: −$1,745
• Taxable income: $1,306
• Est. tax owed @ 24.0%: −$313
• After-tax cash flow: $1,843/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: Centralia Hsd 200
• NCES district ID: 1709300
• Math proficiency: 21% ▲ 6.00%
• Reading proficiency: 26% ▲ 1.00%
• Median HH income: $34,555
• Composite: 22.43/100
• National rank: #13470
• State rank: #668 of 919 in IL

Livability — Centralia

• Score: 68/100
• State rank: #481
• US rank: #9987

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Centralia, IL
• City population: 19,941
• Population (ZIP): 19,941

Population outlook (Marion County) Hauer SSP2

• Today (2025): 36,071 people
• By 2030: 34,598 · -4.1%
• By 2040: 31,754 · -12.0%
• By 2050: 28,912 · -19.8%
• By 2075: 22,527 · -37.5%
• By 2100: 16,455 · -54.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Black 11% Two or more races 4% Hispanic / Latino 4% Asian 1%
• Common ancestry: Serbian 2% Romanian 2% Lithuanian 1%
• Foreign-born: 3% · Canada, China
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Marion

• 2024 margin: Solid R (+49.5) · D 24.6% · R 74.1% · Other 1.4%
• 2008→2024 swing: -47.5pp toward R · 2008: -2.0pp · 2024: -49.5pp
• All cycles: 2024: R+49.5 2020: R+46.6 2016: R+44.9 2012: R+19.2 2008: R+2.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -34.12%
• Current HPI: 211.3835
• 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

+140.0% since first listed

6 events — show timeline

• 2026-05-29 Listed $60,000 MRED as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2018-03-02 Sold (MLS) $18,500 MRED as Distributed by MLS Grid
• 2018-03-02 Sold (MLS) $18,500 RMLSA as Distributed by MLS Grid
• 2018-01-22 Listed $25,000 MRED as Distributed by MLS Grid
• 2018-01-22 Listed $25,000 RMLSA as Distributed by MLS Grid

Property tax history

+119.1%/yr

Latest (2024): $1,352 · -3.1% YoY. Source: county tax records.