306 W Cherry St · Carbondale, IL 62901

$34,000

2 bd · 1.0 ba · 616 sqft · Other

Built 1933 4,806 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
• 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

Great investment opportunity in the heart of Carbondale. Just blocks from SIU campus and downtown, this location is highly desirable for students or long term tenants. Property is being sold as is. Whether you're buying your first rental or adding to an existing portfolio, this is one to consider. Rent - $534/mo. Please allow 48 hours for showings. Leased through 08/12/26. Room measurements not accurate, updates to come.

Key facts

• 4,806 sq ft lot
• Built 1933

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $34k.

Deal economics

• At list price, monthly cash flow is $281 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($730 rent vs $34k).
• Cap rate 16.2% vs local median 4.8% 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: Parrish Elem School (495 students, 0% FRL); Carbondale Middle School (math 5% / reading 14%, grade F, #597 of 665 statewide, top 91%, 446 students, 0% FRL); 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; 4 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; 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 $235 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.5% rent growth), your $10k cash investment doubles in ~4 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.

Risks & watch-outs

• Watch-outs: property tax is 3.6% of price; built in 1933 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $34,000

Questions for the listing agent

1. Built in 1933 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 2.15% ✓
• Cap rate: 16.20%
• Cash-on-cash: 35.37%
• DSCR: 2.57
• GRM: 3.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.51% rent growth · sell at horizon

5-year hold

• IRR: 33.0%
• Equity multiple: 2.42×
• Total profit: $13,537
• Equity at exit: $5,070

10-year hold

• IRR: 40.9%
• Equity multiple: 5.18×
• Total profit: $39,761
• Equity at exit: $2,940

Cash invested: $9,520 (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: 3.9×

Monthly cashflow live

• Estimated rent: $730 medium
• Mortgage (P&I): −$178
• Tax from tax record: −$103 /mo · $1,239/yr
• Insurance: −$14
• HOA: −$0
• Vacancy / Maint / Mgmt: −$153
• Net cashflow: $281

Break-even live

Break-even rent $374

Max offer price $34,000

Occupancy floor 57%

Sensitivity live

Price	-10% $300	-5% $290	+0% $281	+5% $271	+10% $261
Rent	-10% $223	-5% $252	+0% $281	+5% $309	+10% $338
Rate	-1.0pp $298	-0.5pp $289	base $281	+0.5pp $272	+1.0pp $263

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: $8,500
• Closing costs: $1,020
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
516 S Rawlings St Carbondale, IL	1.0	1.0	450	$625	$1.39	45d	5	0.25mi
600 W Mill St Carbondale, IL	1.0	1.0	615	$750	$1.22	45d	2	0.27mi
405 E College St Carbondale, IL	1.0	1.0	351	$690	$1.96	45d	10	0.46mi
250 S Lewis Ln Carbondale, IL	3.0	1.0	622	$650	$1.04	45d	1	1.04mi

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 $210,000
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 $34,000
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.

Tax reassessment forecast IL · Partial reset (capped growth)

• Current annual tax: $1,239 · $103/mo
• Projected year-2 tax: $1,239 · $103/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 74% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥107°F today · 22 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% 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: $8,755
• − Mortgage interest: −$1,905
• − Property taxes: −$1,239
• − Insurance: −$170
• − Repairs & maintenance: −$700
• − Management: −$700
• − Depreciation: −$989
• Taxable income: $3,051
• Est. tax owed @ 24.0%: −$732
• After-tax cash flow: $2,635/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

+517.6% 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) $210,000 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 $34,000 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

-0.2%/yr

Latest (2024): $1,239 · +6.4% YoY. Source: county tax records.