2004 Hayes Ave · Charleston, IL 61920

$139,000

3 bd · 1.0 ba · 1,552 sqft · SingleFamily public records · 114 Days on market

Built 1958 10,019 sqft lot $90/sqft · 14% below area Est $162k · 14% under

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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).

• ARV discount +13.8/15.0
• Cash flow +11.2/30.0
• Livability +3.7/5.0
• DSCR +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Conveniently located near transportation, shopping, and dining . .. this 3 bedroom/1 bath house on Charleston's east side is move-in ready. The fenced yard allows for private solitude or secluded entertainment space. Check out recent updates - flooring, kitchen updates (including countertops), bathroom, kight fixtures, water heater in 2015 . .. certainly a low maintenance venue. Also, the (very nice) 12' x 16' shed stays. Call for a tour before this one gets away. Selling As Is

Key facts

• Recent updates
• Fenced yard
• Kitchen updates

Tags

• FENCED YARD
• PRIVATE SOLITUDE
• SECLUDED ENTERTAINMENT SPACE
• RECENT UPDATES
• KITCHEN UPDATES
• WATER HEATER

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $139k.

Deal economics

• At list price, monthly cash flow is $-55 ($-656/yr) — negative.
• To cash-flow at today's rent, offer at most $129k (6.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $103k (26.1% below list).
• Recommended offer: $103k (26.1% below list) — sets the bar for 1% rule.
• Cap rate 5.8% vs local median 4.0% in Charleston — 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 73/100 on livability (#293 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, amenities C-, schools F.
• Charleston CUSD 1 (town): math 14% / reading 21% proficiency, ranked #489 of 620 in IL (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 125 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 34 units permitted in Coles County in 2024 (30 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $961 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Coles County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 15y 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 $96k; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $102,716 (26.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
3. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.74% ✗
• Cap rate: 5.82%
• Cash-on-cash: -1.68%
• DSCR: 0.93
• GRM: 11.3

CMA / ARV

• ARV (median comp): $161,642
• List price: $139,000
• Delta: -14.01%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1819 Grant Ave	0.09mi	3/2.0	1,450 (-7%)	1mo	$130,000	$90	80
10 Summerfield Ln	0.37mi	3/2.0	1,566 (+1%)	1mo	$345,000	$220	76
11 Copperfield Ln	0.25mi	3/2.0	1,576 (+2%)	9mo	$240,000	$152	74
12 Ridgefield Ln	0.34mi	3/2.0	1,591 (+2%)	6mo	$230,000	$145	70
2007 Mckinley Ave	0.28mi	3/2.0	1,672 (+8%)	1mo	$170,000	$102	69
29 Circle Dr	0.41mi	3/2.0	1,628 (+5%)	0mo	$192,000	$118	68
1130 Buchanan Ave	0.58mi	3/2.5	1,535 (-1%)	9mo	$148,000	$96	58
1016 Hawthorne Dr	0.50mi	3/2.0	1,462 (-6%)	8mo	$230,000	$157	56
2519 Woodlawn Dr	0.73mi	3/2.0	1,582 (+2%)	4mo	$195,000	$123	56
2405 Woodlawn Dr	0.67mi	3/2.0	1,606 (+4%)	5mo	$179,900	$112	55
1402 14th St	0.50mi	4/2.0 (+1)	1,430 (-8%)	5mo	$78,000	$55	51
1146 Buchanan Ave	0.56mi	3/1.0	1,326 (-15%)	2mo	$134,900	$102	48

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: -19.1%
• Equity multiple: 0.33×
• Total profit: $-26,046
• Equity at exit: $20,725

10-year hold

• IRR: -11.8%
• Equity multiple: 0.30×
• Total profit: $-27,333
• Equity at exit: $12,018

Cash invested: $38,920 (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 61920

• Home prices YoY: -28.1%
• Active inventory: 125
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $1,027 medium
• Mortgage (P&I): −$729
• Tax from tax record: −$79 /mo · $951/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$216
• Net cashflow: $-55

Break-even live

Break-even rent $1,096

Max offer price $129,350

Occupancy floor —

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1408 6th St Charleston, IL	2.0	1.0	1346	$729	$0.54	44d	3	0.86mi

Listing history 32 events

1. 2026-06-19
   days on market $139,000 Active 114 DOM
2. 2026-06-18
   days on market $139,000 Active 113 DOM
3. 2026-06-17
   days on market $139,000 Active 112 DOM
4. 2026-06-16
   days on market $139,000 Active 111 DOM
5. 2026-06-15
   days on market $139,000 Active 110 DOM
6. 2026-06-14
   days on market $139,000 Active 108 DOM
7. 2026-06-12
   days on market $139,000 Active 107 DOM
8. 2026-06-09
   days on market $139,000 Active 104 DOM
9. 2026-06-08
   days on market $139,000 Active 103 DOM
10. 2026-06-07
    days on market $139,000 Active 102 DOM
11. 2026-06-05
    days on market $139,000 Active 99 DOM
12. 2026-06-03
    days on market $139,000 Active 98 DOM
13. 2026-06-02
    days on market $139,000 Active 97 DOM
14. 2026-06-01
    days on market $139,000 Active 96 DOM
15. 2026-05-31
    days on market $139,000 Active 95 DOM
16. 2026-05-30
    days on market $139,000 Active 94 DOM
17. 2026-05-15
    status Active 482-char remark

    Show marketing remark (482 chars)

    Conveniently located near transportation, shopping, and dining . .. this 3 bedroom/1 bath house on Charleston's east side is move-in ready. The fenced yard allows for private solitude or secluded entertainment space. Check out recent updates - flooring, kitchen updates (including countertops), bathroom, kight fixtures, water heater in 2015 . .. certainly a low maintenance venue. Also, the (very nice) 12' x 16' shed stays. Call for a tour before this one gets away. Selling As Is

18. 2026-05-15
    status Pending 482-char remark

    Show marketing remark (482 chars)

    Conveniently located near transportation, shopping, and dining . .. this 3 bedroom/1 bath house on Charleston's east side is move-in ready. The fenced yard allows for private solitude or secluded entertainment space. Check out recent updates - flooring, kitchen updates (including countertops), bathroom, kight fixtures, water heater in 2015 . .. certainly a low maintenance venue. Also, the (very nice) 12' x 16' shed stays. Call for a tour before this one gets away. Selling As Is

19. 2026-05-02
    historical Active Under Contract 482-char remark

    Show marketing remark (482 chars)

    Conveniently located near transportation, shopping, and dining . .. this 3 bedroom/1 bath house on Charleston's east side is move-in ready. The fenced yard allows for private solitude or secluded entertainment space. Check out recent updates - flooring, kitchen updates (including countertops), bathroom, kight fixtures, water heater in 2015 . .. certainly a low maintenance venue. Also, the (very nice) 12' x 16' shed stays. Call for a tour before this one gets away. Selling As Is

20. 2026-02-25
    listed $139,000 Active 482-char remark

    Show marketing remark (482 chars)

    Conveniently located near transportation, shopping, and dining . .. this 3 bedroom/1 bath house on Charleston's east side is move-in ready. The fenced yard allows for private solitude or secluded entertainment space. Check out recent updates - flooring, kitchen updates (including countertops), bathroom, kight fixtures, water heater in 2015 . .. certainly a low maintenance venue. Also, the (very nice) 12' x 16' shed stays. Call for a tour before this one gets away. Selling As Is

21. 2025-07-15
    soldstatus $96,000 Closed 356-char remark

    Show marketing remark (356 chars)

    Nestled in a quite area just off 20th street is a nice 3 bedroom 1 bath home. Come enjoy quite evenings in the back yard with a playground just behind the house on the VFW property. Updates since seller bought the house, Flatt roof 2014, bathroom update 2023 water heater 2015 carpet in family room in 2022. There is a 12x16 shed that stays with the house.

22. 2025-06-19
    status Pending 356-char remark

    Show marketing remark (356 chars)

    Nestled in a quite area just off 20th street is a nice 3 bedroom 1 bath home. Come enjoy quite evenings in the back yard with a playground just behind the house on the VFW property. Updates since seller bought the house, Flatt roof 2014, bathroom update 2023 water heater 2015 carpet in family room in 2022. There is a 12x16 shed that stays with the house.

23. 2025-05-30
    price $115,000 356-char remark

    Show marketing remark (356 chars)

    Nestled in a quite area just off 20th street is a nice 3 bedroom 1 bath home. Come enjoy quite evenings in the back yard with a playground just behind the house on the VFW property. Updates since seller bought the house, Flatt roof 2014, bathroom update 2023 water heater 2015 carpet in family room in 2022. There is a 12x16 shed that stays with the house.

24. 2025-05-22
    listed $119,500 Active 356-char remark

    Show marketing remark (356 chars)

    Nestled in a quite area just off 20th street is a nice 3 bedroom 1 bath home. Come enjoy quite evenings in the back yard with a playground just behind the house on the VFW property. Updates since seller bought the house, Flatt roof 2014, bathroom update 2023 water heater 2015 carpet in family room in 2022. There is a 12x16 shed that stays with the house.

25. 2013-11-04
    soldstatus $48,500
26. 2013-10-31
    soldstatus $48,500
27. 2013-10-31
    soldstatus $48,500
28. 2013-09-12
    listed $49,900
29. 2013-09-12
    listed $49,900
30. 2011-11-30
    soldstatus $38,000
31. 2011-11-30
    soldstatus $38,000
32. 2011-05-12
    listed $39,000

ⓘ 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: $951 · $79/mo
• Projected year-2 tax: $2,053 · $171/mo
• Expected delta: +$1,102/yr (+$92/mo · 115.9%)

ⓘ 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 ≥104°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $12,326
• − Mortgage interest: −$7,786
• − Property taxes: −$951
• − Insurance: −$695
• − Repairs & maintenance: −$986
• − Management: −$986
• − Depreciation: −$4,044
• Taxable loss: −$3,122
• Est. tax savings @ 24.0%: +$749
• After-tax cash flow: $94/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: Charleston CUSD 1
• NCES district ID: 1709600
• Math proficiency: 14% ▼ -6.00%
• Reading proficiency: 21% ▼ -8.00%
• Median HH income: $35,724
• Composite: 14.45/100
• National rank: #9429
• State rank: #489 of 620 in IL

Livability — Charleston

• Score: 73/100
• State rank: #293
• US rank: #5627

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Charleston, IL
• County: Coles County · 41,301 people
• City population: 20,951
• Metro: Charleston-Mattoon, IL
• Population (ZIP): 20,951
• Household income: $52,429
• Rent vs Own: 46.7% rent · 53.3% own
• Severe rent burden: 1209.0

Population outlook (Coles County) Hauer SSP2

• Today (2025): 53,967 people
• By 2030: 53,829 · -0.3%
• By 2040: 52,332 · -3.0%
• By 2050: 49,989 · -7.4%
• By 2075: 42,226 · -21.8%
• By 2100: 34,675 · -35.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Black 6% Hispanic / Latino 4% Two or more races 3% Asian 2%
• Common ancestry: Italian 2% Romanian 2% Iranian 2%
• Foreign-born: 4% · Canada, Jamaica
• Languages at home: 95% English-only · Spanish 1% Other Indo-European 1%

Political lean MEDSL · Coles

• 2024 margin: Strong R (+28.5) · D 34.9% · R 63.4% · Other 1.7%
• 2008→2024 swing: -31.7pp toward R · 2008: 3.2pp · 2024: -28.5pp
• All cycles: 2024: R+28.5 2020: R+26.4 2016: R+26.4 2012: R+11.1 2008: D+3.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -59.97%
• Current HPI: 153.8607
• Rent YoY: —
• Metro: Charleston-Mattoon, 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

+256.4% since first listed

16 events — show timeline

• 2026-05-15 Relisted — CIBR
• 2026-05-15 Pending — CIBR
• 2026-05-02 Contingent — CIBR
• 2026-02-25 Listed $139,000 CIBR
• 2025-07-15 Sold (MLS) $96,000 CIBR
• 2025-06-19 Pending — CIBR
• 2025-05-30 Price Changed $115,000 CIBR
• 2025-05-22 Listed $119,500 CIBR
• 2013-11-04 Sold (Public Records) $48,500 Public Records
• 2013-10-31 Sold (MLS) $48,500 CIBR
• 2013-10-31 Sold (MLS) $48,500 MRED as Distributed by MLS Grid
• 2013-09-12 Listed $49,900 CIBR
• 2013-09-12 Listed $49,900 MRED as Distributed by MLS Grid
• 2011-11-30 Sold (Public Records) $38,000 Public Records
• 2011-11-30 Sold (MLS) $38,000 MRED as Distributed by MLS Grid
• 2011-05-12 Listed $39,000 MRED as Distributed by MLS Grid

Property tax history

+1.6%/yr

Latest (2024): $951 · +6.5% YoY. Source: county tax records.