408 N 12th St · Herrin, IL 62948

$85,500

3 bd · 1.0 ba · 810 sqft · Other · 6 Days on market

Built 1965 7,500 sqft lot

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Why this score? — see what drove the C 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 +25.2/30.0
• DSCR +8.3/10.0
• 1% rule +7.6/10.0
• ARV discount +7.5/15.0
• 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

Welcome to 408 N 12th Street — a well-maintained single-level home offering comfort, practicality, and convenience in the heart of Herrin. This residence features three bedrooms and one full bathroom, all thoughtfully arranged within a functional layout of approximately 960 square feet (per floor plan). The inviting living room is bright and spacious, offering a neutral palette ready for your personal touch. Just off the living area, the eat-in kitchen boasts generous cabinet storage, updated hardware, a double sink, and classic appliances — with ample space for a dining table near the large front-facing window. Three comfortable bedrooms are located down a central hallway, each offering natural light, ceiling fans, and wall-unit air conditioning. The full bathroom includes a shower/tub combo, vanity with granite-look countertop, and built-in shelving for added storage.Additional highlights include an in-unit laundry area, a utility room with water heater and breaker access, and baseboard heating throughout. The property also includes a covered carport with rear entry access, a charming front porch, and a spacious backyard with mature trees — ideal for outdoor enjoyment or future landscaping projects. Situated in a quiet neighborhood just minutes from local schools, shopping, and dining, this home presents an excellent opportunity for first-time buyers, investors, or those seeking to downsize. Schedule your private showing today.

Key facts

• Covered front porch
• New doors
• New flooring

Tags

• COVERED FRONT PORCH
• OUTDOOR SITTING AREA
• NEW FLOORING
• UPDATED ELECTRICAL WORK
• CEILING FANS
• NEW DOORS

Property features AI

Finance

• Other: Possession at closing
• HOA & community: No master association fees required

Exterior

• Parking: Two parking spaces
• Utilities: Public water; Public sewer; 100 amp electric service
• Home design: Detached single-family home; One-story
• Construction: Built approximately 61–70 years ago; Masonite exterior; Block foundation; Home built before 1978
• Exterior features: Lot dimensions approximately 50 x 150; Lot smaller than 0.25 acre; Property is in unincorporated area

Interior

• Kitchen: Kitchen on the main level (15 x 10)
• Bedrooms: Three bedrooms (all on the main level); Master bedroom on the main level
• Flooring: Laminate flooring in living room and bedrooms; Vinyl flooring in kitchen
• Bathrooms: One full bathroom
• Heating & cooling: Electric heating; Window air conditioning units
• Interior features: Five total rooms
• Laundry & utility: Laundry room with electric dryer hookup and laundry closet

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $86k.

Deal economics

• At list price, monthly cash flow is $191 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $86k).

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 C U S D 4 Elem School (math 21% / reading 25%, grade F, #929 of 2,056 statewide, top 45%, 679 students, 0% FRL); Herrin Middle School (math 24% / reading 28%, grade F, #318 of 665 statewide, top 48%, 507 students, 0% FRL); 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; 3 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $591 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 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.
• Current owner paid $60k; 42% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price.
• 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 $85,500

Questions for the listing agent

1. Built in 1965 — 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 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?
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: 1.26% ✓
• Cap rate: 8.98%
• Cash-on-cash: 9.58%
• DSCR: 1.43
• GRM: 6.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -1.8%
• Equity multiple: 0.93×
• Total profit: $-1,617
• Equity at exit: $12,748

10-year hold

• IRR: 8.0%
• Equity multiple: 1.61×
• Total profit: $14,519
• Equity at exit: $7,392

Cash invested: $23,940 (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: 6.6×

Monthly cashflow live

• Estimated rent: $1,081 medium
• Mortgage (P&I): −$448
• Tax from tax record: −$179 /mo · $2,146/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$227
• Net cashflow: $191

Break-even live

Break-even rent $839

Max offer price $85,500

Occupancy floor 77%

Sensitivity live

Price	-10% $240	-5% $215	+0% $191	+5% $167	+10% $143
Rent	-10% $106	-5% $148	+0% $191	+5% $234	+10% $277
Rate	-1.0pp $234	-0.5pp $213	base $191	+0.5pp $169	+1.0pp $147

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: $21,375
• Closing costs: $2,565
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6 Court C Herrin, IL	2.0	1.0	900	$895	$0.99	45d	1	1.00mi
3 Ct D Herrin, IL	3.0	1.0	1000	$1,195	$1.20	45d	1	1.04mi
715 N 35th St Unit D Herrin, IL	2.0	1.0	850	$1,200	$1.41	45d	1	1.43mi

Listing history 6 events

1. 2026-06-21
   days on market $85,500 Active 6 DOM
2. 2026-06-19
   days on market $85,500 Active 4 DOM
3. 2026-06-18
   days on market $85,500 Active 3 DOM
4. 2026-06-17
   days on market $85,500 Active 2 DOM
5. 2026-06-15
   remarks 656-char remark
6. 2026-06-15
   listed $85,500 Active 1 DOM

ⓘ 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: $2,146 · $179/mo
• Projected year-2 tax: $2,146 · $179/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 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 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: $12,973
• − Mortgage interest: −$4,789
• − Property taxes: −$2,146
• − Insurance: −$428
• − Repairs & maintenance: −$1,038
• − Management: −$1,038
• − Depreciation: −$2,487
• Taxable income: $1,047
• Est. tax owed @ 24.0%: −$251
• After-tax cash flow: $2,043/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

+31.5% since first listed

7 events — show timeline

• 2026-06-15 Listed $85,500 MRED as Distributed by MLS Grid
• 2026-02-24 Sold (Public Records) $59,990 Public Records
• 2026-02-24 Sold (MLS) $60,000 RMLSA as Distributed by MLS Grid
• 2026-02-02 Contingent — RMLSA as Distributed by MLS Grid
• 2026-02-01 Listing Removed — MRED as Distributed by MLS Grid
• 2026-01-02 Listed — MRED as Distributed by MLS Grid
• 2026-01-02 Listed $65,000 RMLSA as Distributed by MLS Grid

Property tax history

+3.6%/yr

Latest (2025): $2,146 · +2.2% YoY. Source: county tax records.