604 N 7th St · Herrin, IL 62948

$15,000

3 bd · 2.0 ba · 1,288 sqft · Other · 16 Days on market

Built 1952 7,405 sqft lot $12/sqft · 80% below area

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Well maintained 1 1/2 story 3 bedroom home with master bedroom, bath and walk in closet....all for under 70k. New carpet, new paint, updated electric...1 car attached garage, 1 car detached garage, utility room, additional storage room off of utility room. Must see to appreciate all this home has to offer. Would make a great home for your family. *** none

Key facts

• 7,405 sq ft lot
• Garage
• Built 1952

Property features AI

Finance

• Other: Property is not currently leased; Possession at closing; Property referenced by parcel number 0220309005
• HOA & community: No master association fee required

Exterior

• Parking: Attached garage (1 garage space, 1 total parking space)
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; 1.5-story design; Fee simple ownership
• Construction: Built approximately 71–80 years ago; Vinyl siding over frame construction; Asphalt roof
• Exterior features: Lot roughly 50 x 150; Lot smaller than 0.25 acre; Not a zero lot line

Interior

• Kitchen: Kitchen on main level (12 x 12)
• Bedrooms: Three bedrooms total; Primary bedroom on second floor (14 x 11); Two additional bedrooms on main level (12 x 11 and 13 x 11)
• Bathrooms: Two full bathrooms
• Heating & cooling: Natural gas forced air heating
• Interior features: Five total rooms; Crawl space basement; School bus service available
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $15k.

Deal economics

• At list price, monthly cash flow is $726 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $15k).
• Recommended offer: $15k (1.5% below list) — sets the bar for market timing.
• Cap rate 64.4% vs local median 8.5% in Herrin — 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 64/100 on livability (#667 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B; Watch: crime D-, amenities F, commute F.
• Herrin CUSD 4 (suburban): math 22% / reading 27% proficiency, ranked #364 of 620 in IL (top 59%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Herrin High School (math 22% / reading 32%, grade F, #218 of 693 statewide, top 35%, 686 students, 0% FRL) — zoned schools average 0% FRL vs 56% district-wide (56 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 91 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $104 of loan paydown is wiped out by about $450 of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($15k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y 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 1952 — 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 $14,775 (1.5% below list)

Questions for the listing agent

1. Built in 1952 — 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 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. 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?
6. 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.
7. 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.
8. 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: 7.01% ✓
• Cap rate: 64.41%
• Cash-on-cash: 207.56%
• DSCR: 10.24
• GRM: 1.2

CMA / ARV

• ARV (median comp): $74,347
• List price: $15,000
• Delta: -79.82%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 11.44×
• Total profit: $43,853
• Equity at exit: $2,237

10-year hold

• IRR: —
• Equity multiple: 24.29×
• Total profit: $97,829
• Equity at exit: $1,297

Cash invested: $4,200 (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 62948

• Home prices YoY: -34.1%
• Active inventory: 91
• Price-to-rent: 1.2×

Monthly cashflow live

• Estimated rent: $1,051 medium
• Mortgage (P&I): −$79
• Tax est. 1.5%: −$19 /mo · $225/yr
• Insurance: −$6
• HOA: −$0
• Vacancy / Maint / Mgmt: −$221
• Net cashflow: $726

Break-even live

Break-even rent $131

Max offer price $15,000

Occupancy floor 26%

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: $3,750
• Closing costs: $450
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6 Court C Herrin, IL	2.0	1.0	900	$895	$0.99	43d	1	1.24mi
3 Ct D Herrin, IL	3.0	1.0	1000	$1,195	$1.20	43d	1	1.28mi

Listing history 6 events

1. 2026-05-02
   listed $15,000 Active 544-char remark
2. 2015-08-28
   soldstatus $60,500 357-char remark

   Show marketing remark (357 chars)

   Well maintained 1 1/2 story 3 bedroom home with master bedroom, bath and walk in closet....all for under 70k. New carpet, new paint, updated electric...1 car attached garage, 1 car detached garage, utility room, additional storage room off of utility room. Must see to appreciate all this home has to offer. Would make a great home for your family. *** none

3. 2015-08-28
   soldstatus $60,500 357-char remark

   Show marketing remark (357 chars)

   Well maintained 1 1/2 story 3 bedroom home with master bedroom, bath and walk in closet....all for under 70k. New carpet, new paint, updated electric...1 car attached garage, 1 car detached garage, utility room, additional storage room off of utility room. Must see to appreciate all this home has to offer. Would make a great home for your family. *** none

4. 2015-08-28
   soldstatus $60,500

   Show marketing remark (357 chars)

   Well maintained 1 1/2 story 3 bedroom home with master bedroom, bath and walk in closet....all for under 70k. New carpet, new paint, updated electric...1 car attached garage, 1 car detached garage, utility room, additional storage room off of utility room. Must see to appreciate all this home has to offer. Would make a great home for your family. *** none

5. 2015-03-12
   listed $65,000 357-char remark

   Show marketing remark (357 chars)

   Well maintained 1 1/2 story 3 bedroom home with master bedroom, bath and walk in closet....all for under 70k. New carpet, new paint, updated electric...1 car attached garage, 1 car detached garage, utility room, additional storage room off of utility room. Must see to appreciate all this home has to offer. Would make a great home for your family. *** none

6. 2015-03-12
   listed $65,000 357-char remark

   Show marketing remark (357 chars)

   Well maintained 1 1/2 story 3 bedroom home with master bedroom, bath and walk in closet....all for under 70k. New carpet, new paint, updated electric...1 car attached garage, 1 car detached garage, utility room, additional storage room off of utility room. Must see to appreciate all this home has to offer. Would make a great home for your family. *** none

ⓘ 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 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 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,609
• − Mortgage interest: −$840
• − Property taxes: −$225
• − Insurance: −$75
• − Repairs & maintenance: −$1,009
• − Management: −$1,009
• − Depreciation: −$436
• Taxable income: $9,015
• Est. tax owed @ 24.0%: −$2,164
• After-tax cash flow: $6,554/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: Herrin CUSD 4
• NCES district ID: 1718810
• Math proficiency: 22% ▼ -11.00%
• Reading proficiency: 27% ▼ -17.00%
• Median HH income: $38,824
• Composite: 20.56/100
• National rank: #8558
• State rank: #364 of 620 in IL

Livability — Herrin

• Score: 64/100
• State rank: #667
• US rank: #13670

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Herrin, IL
• City population: 12,728
• Population (ZIP): 12,728

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 (85%)
• Race & ethnicity: White 85% Two or more races 8% Black 5% Hispanic / Latino 4% Native American 1%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3%

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: ▼ -67.82%
• Current HPI: 131.1617
• 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

-76.9% since first listed

7 events — show timeline

• 2026-05-19 Pending — MRED as Distributed by MLS Grid
• 2026-05-02 Listed $15,000 MRED as Distributed by MLS Grid
• 2015-08-28 Sold (Public Records) $60,500 Public Records
• 2015-08-28 Sold (MLS) $60,500 MRED as Distributed by MLS Grid
• 2015-08-28 Sold (MLS) $60,500 RMLSA as Distributed by MLS Grid
• 2015-03-12 Listed $65,000 MRED as Distributed by MLS Grid
• 2015-03-12 Listed $65,000 RMLSA as Distributed by MLS Grid

Property tax history

+29.1%/yr

Latest (2025): $2,458 · +2.2% YoY. Source: county tax records.