404 N Otis St · Marion, IL 62959

$75,000

2 bd · 1.0 ba · 920 sqft · SingleFamily · 5 Days on market

Built 1900 0.27 ac lot Est $112k · 33% 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• Rent growth +4.6/5.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this beautifully updated 2-bedroom, 1-bath home that is move-in ready and full of charm! Inside, you'll find modern updates, fresh finishes, and a comfortable layout designed for easy living. Step outside and enjoy the spacious covered back patio-perfect for relaxing with your morning coffee, entertaining friends and family, or enjoying quiet evenings outdoors. The property offers plenty of outdoor space and low-maintenance living. Whether you're a first-time homebuyer, looking to downsize, or searching for an investment property, this home is a must-see. Don't miss your opportunity to own this updated, affordable home!

Key facts

• Covered back patio
• Outdoor space
• 0.27 acre lot

Tags

• COVERED BACK PATIO
• OUTDOOR SPACE
• LOW MAINTENANCE LIVING

Property features AI

Finance

• Other: Fee simple ownership
• Financial info: Special service area not applicable
• HOA & community: No master association fee required

Exterior

• Parking: Parking details not provided
• Security: No security details provided
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; One-story
• Construction: Home over 100 years old; Built before 1978
• Exterior features: Lot dimensions approximately 79 x 151; Lot smaller than 0.25 acre; Aluminum siding

Interior

• Kitchen: Galley kitchen (7 x 13); Range; Refrigerator
• Bedrooms: 2 bedrooms total; Main-level master bedroom (10 x 9); Main-level second bedroom (9 x 9); Additional bedrooms listed
• Flooring: Luxury vinyl flooring in living room
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Five total rooms; Crawl space basement
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $304 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($959 rent vs $75k).
• Cap rate 11.2% vs local median 4.0% 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, schools F, crime 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.
• Market conditions: Rents rising fast (+8.4%/yr); 226 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 130 units permitted in Williamson County in 2024 (5 in 5+ unit buildings).
• This rent is only 16% of the median local income ($71k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $21k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 22y 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 $36k; list at $75k implies a 108% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — 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 $75,000

Questions for the listing agent

1. Built in 1900 — 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 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: 1.28% ✓
• Cap rate: 11.16%
• Cash-on-cash: 17.37%
• DSCR: 1.77
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $112,240
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
718 E Union St	0.10mi	2/2.0	900 (-2%)	10mo	$19,000	$21	80
1109 E Reeves St	0.45mi	2/1.0	928 (+1%)	4mo	$103,000	$111	75
902 N Taft St	0.43mi	2/1.0	900 (-2%)	3mo	$115,000	$128	74
800 E Mckinley St	0.09mi	2/2.0	1,000 (+9%)	5mo	$44,000	$44	73
404 E Carter St	0.50mi	2/1.0	900 (-2%)	2mo	$110,000	$122	72
200 A E Thorn St	0.39mi	2/1.0	980 (+6%)	1mo	$152,000	$155	70
907 E Main St	0.17mi	3/1.0 (+1)	1,020 (+11%)	0mo	$124,900	$122	69
603 N Logan St	0.23mi	3/1.0 (+1)	970 (+5%)	9mo	$89,000	$92	68
203 S Burr St	0.21mi	2/1.0	1,008 (+10%)	11mo	$84,694	$84	66
406 E Jefferson St	0.33mi	2/1.0	1,020 (+11%)	6mo	$31,500	$31	61
1705 E Pickett Ln	0.59mi	3/1.5 (+1)	988 (+7%)	2mo	$165,000	$167	51
602 Valmar St	0.62mi	3/1.5 (+1)	988 (+7%)	13mo	$129,000	$131	41

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: 13.8%
• Equity multiple: 1.58×
• Total profit: $12,254
• Equity at exit: $11,183

10-year hold

• IRR: 26.0%
• Equity multiple: 3.79×
• Total profit: $58,567
• Equity at exit: $6,485

Cash invested: $21,000 (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: 226
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $959 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$29 /mo · $347/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$201
• Net cashflow: $304

Break-even live

Break-even rent $574

Max offer price $75,000

Occupancy floor 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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1700 E Boyton St Apt C Marion, IL	2.0	2.0	1100	$975	$0.89	43d	1	0.91mi
908 N Bentley St Unit 908-F Marion, IL	2.0	1.0	850	$850	$1.00	43d	1	1.18mi

Listing history 4 events

1. 2026-06-09
   statusdays on market $75,000 Pending 5 DOM
2. 2026-06-07
   days on market $75,000 Active 4 DOM
3. 2026-06-05
   remarks 643-char remark
4. 2026-06-05
   listed $75,000 Active 1 DOM

ⓘ 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: $347 · $29/mo
• Projected year-2 tax: $1,025 · $85/mo
• Expected delta: +$678/yr (+$56/mo · 195.4%)

ⓘ 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 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: $11,507
• − Mortgage interest: −$4,201
• − Property taxes: −$347
• − Insurance: −$375
• − Repairs & maintenance: −$921
• − Management: −$921
• − Depreciation: −$2,182
• Taxable income: $2,561
• Est. tax owed @ 24.0%: −$615
• After-tax cash flow: $3,034/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

+88.0% since first listed

3 events — show timeline

• 2026-06-03 Listed $75,000 MRED as Distributed by MLS Grid
• 2004-05-14 Sold (MLS) $36,000 RMLSA as Distributed by MLS Grid
• 2004-04-21 Listed $39,900 RMLSA as Distributed by MLS Grid

Property tax history

-6.7%/yr

Latest (2025): $347 · +14.2% YoY. Source: county tax records.