307 W Perrine St · Johnston City, IL 62951

$54,900

2 bd · 1.0 ba · 1,093 sqft · Other · 74 Days on market

Built 1900 7,500 sqft lot $50/sqft · 20% below area Est $69k · 20% under ↓ 9% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cozy and inviting, this home at 307 W Perrine St in Johnston City offers comfortable living with small-town charm. Featuring a practical layout with bright living spaces, well-sized bedrooms, and plenty of natural light throughout, it’s perfect for first-time buyers, downsizers, or investors. The property includes a spacious yard ideal for outdoor enjoyment, gardening, or pets. Conveniently located near schools, parks, and local amenities, this home combines affordability and convenience in a quiet neighborhood.

Key facts

• 7,500 sq ft lot
• Parking
• Built 1900

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $55k.

Deal economics

• At list price, monthly cash flow is $362 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($955 rent vs $55k).
• Recommended offer: $52k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#670 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: schools F, amenities F, commute F.
• Johnston City CUSD 1 (town): math 11% / reading 14% proficiency, ranked #556 of 620 in IL (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 26 active listings in the ZIP; 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 $380 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 74 days — a 6% lower offer ($52k) is reasonable based on typical stale-listing flexibility.

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 $51,606 (6.0% below list)

Questions for the listing agent

1. It's been on market 74 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.74% ✓
• Cap rate: 14.20%
• Cash-on-cash: 28.25%
• DSCR: 2.26
• GRM: 4.8

CMA / ARV

• ARV (median comp): $68,712
• List price: $54,900
• Delta: -14.13%
• 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: 22.5%
• Equity multiple: 1.92×
• Total profit: $14,179
• Equity at exit: $8,186

10-year hold

• IRR: 30.5%
• Equity multiple: 3.74×
• Total profit: $42,121
• Equity at exit: $4,747

Cash invested: $15,372 (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 62951

• Home prices YoY: -25.8%
• Active inventory: 26
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $955 medium
• Mortgage (P&I): −$288
• Tax from tax record: −$82 /mo · $981/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$201
• Net cashflow: $362

Break-even live

Break-even rent $497

Max offer price $54,900

Occupancy floor 57%

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: $13,725
• Closing costs: $1,647
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   pricedays on market $54,900 Active 74 DOM
2. 2026-06-18
   days on market $59,000 Active 73 DOM
3. 2026-06-17
   days on market $59,000 Active 72 DOM
4. 2026-06-16
   days on market $59,000 Active 71 DOM
5. 2026-06-15
   days on market $59,000 Active 70 DOM
6. 2026-06-14
   days on market $59,000 Active 68 DOM
7. 2026-06-13
   days on market $59,000 Active 67 DOM
8. 2026-06-10
   days on market $59,000 Active 65 DOM
9. 2026-06-09
   days on market $59,000 Active 64 DOM
10. 2026-06-08
    days on market $59,000 Active 63 DOM
11. 2026-06-07
    days on market $59,000 Active 62 DOM
12. 2026-06-05
    days on market $59,000 Active 59 DOM
13. 2026-06-03
    days on market $59,000 Active 58 DOM
14. 2026-06-02
    days on market $59,000 Active 57 DOM
15. 2026-06-01
    days on market $59,000 Active 56 DOM
16. 2026-05-31
    days on market $59,000 Active 55 DOM
17. 2026-05-30
    days on market $59,000 Active 54 DOM
18. 2026-05-11
    price $59,000 523-char remark

    Show marketing remark (523 chars)

    Cozy and inviting, this home at 307 W Perrine St in Johnston City offers comfortable living with small-town charm. Featuring a practical layout with bright living spaces, well-sized bedrooms, and plenty of natural light throughout, it’s perfect for first-time buyers, downsizers, or investors. The property includes a spacious yard ideal for outdoor enjoyment, gardening, or pets. Conveniently located near schools, parks, and local amenities, this home combines affordability and convenience in a quiet neighborhood.

19. 2026-04-06
    listed $65,000 Active 523-char remark

    Show marketing remark (523 chars)

    Cozy and inviting, this home at 307 W Perrine St in Johnston City offers comfortable living with small-town charm. Featuring a practical layout with bright living spaces, well-sized bedrooms, and plenty of natural light throughout, it’s perfect for first-time buyers, downsizers, or investors. The property includes a spacious yard ideal for outdoor enjoyment, gardening, or pets. Conveniently located near schools, parks, and local amenities, this home combines affordability and convenience in a quiet neighborhood.

ⓘ 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: $981 · $82/mo
• Projected year-2 tax: $1,114 · $93/mo
• Expected delta: +$133/yr (+$11/mo · 13.5%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥107°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 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,460
• − Mortgage interest: −$3,075
• − Property taxes: −$981
• − Insurance: −$274
• − Repairs & maintenance: −$917
• − Management: −$917
• − Depreciation: −$1,597
• Taxable income: $3,699
• Est. tax owed @ 24.0%: −$888
• After-tax cash flow: $3,456/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: Johnston City CUSD 1
• NCES district ID: 1720550
• Math proficiency: 11% ▼ -11.00%
• Reading proficiency: 14% ▼ -6.00%
• Median HH income: $40,813
• Composite: 10.81/100
• National rank: #9765
• State rank: #556 of 620 in IL

Livability — Johnston City

• Score: 64/100
• State rank: #670
• US rank: #13707

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Johnston City, IL
• City population: 5,381
• Population (ZIP): 5,381

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 (92%)
• Race & ethnicity: White 92% Two or more races 3% Asian 2% Hispanic / Latino 2%
• Common ancestry: Romanian 4% Iranian 3% English 2%
• Foreign-born: 2% · China
• Languages at home: 98% English-only · Chinese 2%

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: ▼ -38.65%
• Current HPI: 111.1728
• 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

-9.2% since first listed

2 events — show timeline

• 2026-05-11 Price Changed $59,000 RMLSA as Distributed by MLS Grid
• 2026-04-06 Listed $65,000 RMLSA as Distributed by MLS Grid

Property tax history

+2.5%/yr

Latest (2025): $981 · +94.7% YoY. Source: county tax records.