506 S Binkley St · West Frankfort, IL 62896

$45,000

2 bd · 1.0 ba · 879 sqft · SingleFamily · 117 Days on market

Built 1910 6,000 sqft lot $51/sqft · 45% below area Est $82k · 45% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity awaits at 506 S. Binkley in West Frankfort. This 2-bedroom, 1-bath ranch offers approximately 840 sq ft on the main level with a full basement for additional storage. The layout includes a spacious living room, eat-in kitchen, primary bedroom, second bedroom, full bath, and a screened porch, along with a covered deck overlooking the backyard. The property features a detached garage, fenced yard, and public utilities. The basement provides additional usable space and mechanical access. Property is being sold as-is and will require renovation and repair. This home presents potential for investors, renovation buyers, or those looking for a project property. Conveniently located within city limits with access to local amenities, schools, parks, and major roadways.

Key facts

• Covered deck
• Fenced yard
• Full basement

Tags

• FULL BASEMENT
• SCREENED PORCH
• COVERED DECK
• FENCED YARD
• PUBLIC UTILITIES
• USABLE SPACE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $307 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($795 rent vs $45k).
• Recommended offer: $41k (9.0% below list) — sets the bar for market timing.
• Cap rate 14.5% vs local median 5.9% in West Frankfort — 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 56/100 on livability (#1,210 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime D, schools F, amenities F.
• Frankfort CUSD 168 (town): math 6% / reading 16% proficiency, ranked #577 of 620 in IL (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 90 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 17 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $311 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Franklin County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 117 days — a 9% lower offer ($41k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 19y ago; this cycle's ask has dropped $15k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1910 — 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 $40,950 (9.0% below list)

Questions for the listing agent

1. It's been on market 117 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — 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. 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?
7. 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.
8. 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.
9. 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: 1.77% ✓
• Cap rate: 14.49%
• Cash-on-cash: 29.27%
• DSCR: 2.30
• GRM: 4.7

CMA / ARV

• ARV (median comp): $81,745
• List price: $45,000
• Delta: -44.95%
• 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
503 S Lincoln St	0.29mi	2/1.0	964 (+10%)	3mo	$90,000	$93	68
1208 E 5th St	0.60mi	2/1.0	926 (+5%)	2mo	$19,000	$21	62
606 S Monroe St	0.47mi	1/1.5 (-1)	1,000 (+14%)	0mo	$70,000	$70	48
411 N Cochran	0.53mi	2/1.0	960 (+9%)	14mo	$25,975	$27	48
213 S Sunny Slope St	0.59mi	2/1.0	800 (-9%)	15mo	$16,000	$20	45
502 S Sunny Slope St	0.58mi	2/1.0	1,000 (+14%)	8mo	$125,000	$125	43
502 S Sunny Slope St	0.58mi	2/1.0	1,000 (+14%)	8mo	$125,000	$125	43
512 N Madison St	0.63mi	2/1.0	971 (+10%)	14mo	$84,000	$87	42
512 N Madison St	0.64mi	2/1.0	971 (+10%)	14mo	$84,000	$87	42
610 S Jackson St	0.54mi	3/1.0 (+1)	768 (-13%)	9mo	$35,475	$46	42
610 S Jackson St	0.54mi	3/1.0 (+1)	768 (-13%)	9mo	$35,475	$46	42
1210 E 5th St	0.60mi	2/1.0	760 (-14%)	16mo	$73,500	$97	36

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: 23.7%
• Equity multiple: 1.98×
• Total profit: $12,300
• Equity at exit: $6,710

10-year hold

• IRR: 31.6%
• Equity multiple: 3.86×
• Total profit: $35,988
• Equity at exit: $3,891

Cash invested: $12,600 (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 62896

• Active inventory: 90
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $795 medium
• Mortgage (P&I): −$236
• Tax from tax record: −$66 /mo · $792/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$167
• Net cashflow: $307

Break-even live

Break-even rent $406

Max offer price $45,000

Occupancy floor 56%

Sensitivity live

Price	-10% $333	-5% $320	+0% $307	+5% $295	+10% $282
Rent	-10% $245	-5% $276	+0% $307	+5% $339	+10% $370
Rate	-1.0pp $330	-0.5pp $319	base $307	+0.5pp $296	+1.0pp $284

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
411 N Cochran St West Frankfort, IL	2.0	1.0	960	$795	$0.83	44d	1	0.54mi

Listing history 25 events

1. 2026-06-21
   days on market $45,000 Active 117 DOM
2. 2026-06-18
   days on market $45,000 Active 115 DOM
3. 2026-06-17
   days on market $45,000 Active 114 DOM
4. 2026-06-16
   days on market $45,000 Active 113 DOM
5. 2026-06-15
   days on market $45,000 Active 112 DOM
6. 2026-06-13
   days on market $45,000 Active 110 DOM
7. 2026-06-12
   days on market $45,000 Active 109 DOM
8. 2026-06-09
   days on market $45,000 Active 106 DOM
9. 2026-06-08
   days on market $45,000 Active 105 DOM
10. 2026-06-07
    pricedays on market $45,000 Active 104 DOM
11. 2026-06-04
    days on market $55,000 Active 100 DOM
12. 2026-06-02
    days on market $55,000 Active 99 DOM
13. 2026-06-01
    days on market $55,000 Active 98 DOM
14. 2026-05-31
    days on market $55,000 Active 97 DOM
15. 2026-05-31
    days on market $55,000 Active 96 DOM
16. 2026-03-28
    price $55,000 784-char remark

    Show marketing remark (784 chars)

    Opportunity awaits at 506 S. Binkley in West Frankfort. This 2-bedroom, 1-bath ranch offers approximately 840 sq ft on the main level with a full basement for additional storage. The layout includes a spacious living room, eat-in kitchen, primary bedroom, second bedroom, full bath, and a screened porch, along with a covered deck overlooking the backyard. The property features a detached garage, fenced yard, and public utilities. The basement provides additional usable space and mechanical access. Property is being sold as-is and will require renovation and repair. This home presents potential for investors, renovation buyers, or those looking for a project property. Conveniently located within city limits with access to local amenities, schools, parks, and major roadways.

17. 2026-02-22
    listed $60,000 Active 784-char remark

    Show marketing remark (784 chars)

    Opportunity awaits at 506 S. Binkley in West Frankfort. This 2-bedroom, 1-bath ranch offers approximately 840 sq ft on the main level with a full basement for additional storage. The layout includes a spacious living room, eat-in kitchen, primary bedroom, second bedroom, full bath, and a screened porch, along with a covered deck overlooking the backyard. The property features a detached garage, fenced yard, and public utilities. The basement provides additional usable space and mechanical access. Property is being sold as-is and will require renovation and repair. This home presents potential for investors, renovation buyers, or those looking for a project property. Conveniently located within city limits with access to local amenities, schools, parks, and major roadways.

18. 2008-12-18
    soldstatus $41,000 552-char remark

    Show marketing remark (552 chars)

    This home has been gorgeously updated. A partial list includes carpet, laminate, interior and exterior paint, and some plumbing. The asphalt drive has been resealed. Both bedrooms have large closets and the basement could provide more storage or even a game room. The bonus room could easily be a third bedroom. From the kitchen, through the patio doors, there is a covered deck that overlooks the fenced backyard and provides access to the detached garage. Stove, Refrigerator, Washer, and Dryer pass with the sale of the house in ''as is'' condition.

19. 2008-12-18
    soldstatus $41,000 552-char remark

    Show marketing remark (552 chars)

    This home has been gorgeously updated. A partial list includes carpet, laminate, interior and exterior paint, and some plumbing. The asphalt drive has been resealed. Both bedrooms have large closets and the basement could provide more storage or even a game room. The bonus room could easily be a third bedroom. From the kitchen, through the patio doors, there is a covered deck that overlooks the fenced backyard and provides access to the detached garage. Stove, Refrigerator, Washer, and Dryer pass with the sale of the house in ''as is'' condition.

20. 2008-06-17
    listed $45,500 552-char remark

    Show marketing remark (552 chars)

    This home has been gorgeously updated. A partial list includes carpet, laminate, interior and exterior paint, and some plumbing. The asphalt drive has been resealed. Both bedrooms have large closets and the basement could provide more storage or even a game room. The bonus room could easily be a third bedroom. From the kitchen, through the patio doors, there is a covered deck that overlooks the fenced backyard and provides access to the detached garage. Stove, Refrigerator, Washer, and Dryer pass with the sale of the house in ''as is'' condition.

21. 2008-06-17
    listed $45,500 552-char remark

    Show marketing remark (552 chars)

    This home has been gorgeously updated. A partial list includes carpet, laminate, interior and exterior paint, and some plumbing. The asphalt drive has been resealed. Both bedrooms have large closets and the basement could provide more storage or even a game room. The bonus room could easily be a third bedroom. From the kitchen, through the patio doors, there is a covered deck that overlooks the fenced backyard and provides access to the detached garage. Stove, Refrigerator, Washer, and Dryer pass with the sale of the house in ''as is'' condition.

22. 2007-03-14
    soldstatus $30,000
23. 2007-03-14
    soldstatus $30,000
24. 2007-02-10
    listed $32,000
25. 2007-02-10
    listed $32,000

ⓘ 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: $792 · $66/mo
• Projected year-2 tax: $907 · $76/mo
• Expected delta: +$115/yr (+$10/mo · 14.5%)

ⓘ 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 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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,540
• − Mortgage interest: −$2,521
• − Property taxes: −$792
• − Insurance: −$225
• − Repairs & maintenance: −$763
• − Management: −$763
• − Depreciation: −$1,309
• Taxable income: $3,167
• Est. tax owed @ 24.0%: −$760
• After-tax cash flow: $2,928/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: Frankfort CUSD 168
• NCES district ID: 1741580
• Math proficiency: 6% ▼ -9.00%
• Reading proficiency: 16% ▼ -10.00%
• Median HH income: $34,447
• Composite: 8.93/100
• National rank: #9886
• State rank: #577 of 620 in IL

Livability — West Frankfort

• Score: 56/100
• State rank: #1210
• US rank: #22742

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Frankfort, IL
• City population: 10,691
• Population (ZIP): 10,691

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 37,954 people
• By 2030: 36,828 · -3.0%
• By 2040: 34,452 · -9.2%
• By 2050: 31,855 · -16.1%
• By 2075: 25,171 · -33.7%
• By 2100: 18,462 · -51.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 2%
• Common ancestry: Romanian 2% Lithuanian 1% Iranian 1%
• Foreign-born: 1% · Canada, Jamaica
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Franklin

• 2024 margin: Solid R (+50.6) · D 24.1% · R 74.6% · Other 1.3%
• 2008→2024 swing: -47.8pp toward R · 2008: -2.8pp · 2024: -50.6pp
• All cycles: 2024: R+50.6 2020: R+47.5 2016: R+45.3 2012: R+16.8 2008: R+2.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -94.00%
• Current HPI: 86.36
• 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

+71.9% since first listed

10 events — show timeline

• 2026-03-28 Price Changed $55,000 RMLSA as Distributed by MLS Grid
• 2026-02-22 Listed $60,000 RMLSA as Distributed by MLS Grid
• 2008-12-18 Sold (MLS) $41,000 RMLSA as Distributed by MLS Grid
• 2008-12-18 Sold (MLS) $41,000 MRED as Distributed by MLS Grid
• 2008-06-17 Listed $45,500 RMLSA as Distributed by MLS Grid
• 2008-06-17 Listed $45,500 MRED as Distributed by MLS Grid
• 2007-03-14 Sold (MLS) $30,000 RMLSA as Distributed by MLS Grid
• 2007-03-14 Sold (MLS) $30,000 MRED as Distributed by MLS Grid
• 2007-02-10 Listed $32,000 RMLSA as Distributed by MLS Grid
• 2007-02-10 Listed $32,000 MRED as Distributed by MLS Grid

Property tax history

+5.2%/yr

Latest (2024): $792 · +6.0% YoY. Source: county tax records.