413 Walnut St · Zeigler, IL 62999

$60,000

3 bd · 2.0 ba · 1,500 sqft · Other · 90 Days on market

Built 2011 0.66 ac lot $40/sqft · 14% below area Est $69k · 14% under ↓ 12% since listing

---

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 +13.6/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +5.1/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0

Listing remarks MLS

This inviting 3 bedroom, 2 bathroom home sits on extra lots with a back deck and an above ground pool and a wood burning fire place. This home offers plenty of space and comfort. Complete with a convenient carport and 3 additional lots included. Enjoy your summer days relaxing by your own pool. With its functional layout, cozy living areas, and outdoors amenities, this property combines everyday comfort with incredible potential. Being sold AS IS. Don't miss the chance to own a home with space and a spacious yard that you've been looking for.

Key facts

• Spacious yard
• Above ground pool
• Back deck

Tags

• BACK DECK
• ABOVE GROUND POOL
• WOOD BURNING FIRE PLACE
• CONVENIENT CARPORT
• SPACIOUS YARD

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $60k.

Deal economics

• At list price, monthly cash flow is $153 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $56k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#1,012 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, housing A-; Watch: schools F, amenities F, commute F.
• Zeigler-Royalton CUSD 188 (rural): math 10% / reading 20% proficiency, ranked #524 of 620 in IL (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 6 active listings in the ZIP; 17 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $586 of equity ($415 loan paydown + $171 appreciation (0.3% local appreciation)).
• Franklin County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.3% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($56k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts; this cycle's ask has dropped $8k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $314/mo.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $56,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.86% ✓
• Cap rate: 15.63%
• Cash-on-cash: 33.33%
• DSCR: 2.48
• GRM: 4.5

CMA / ARV

• ARV (median comp): $69,464
• List price: $60,000
• Delta: -13.62%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

0.29% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 11.0%
• Equity multiple: 1.54×
• Total profit: $9,003
• Equity at exit: $18,282

10-year hold

• IRR: 15.7%
• Equity multiple: 2.79×
• Total profit: $30,029
• Equity at exit: $22,675

Cash invested: $16,800 (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 62999

• Home prices YoY: 0.3%
• Active inventory: 6
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,116 medium
• Mortgage (P&I): −$315
• Tax est. 1.5%: −$75 /mo · $900/yr
• Insurance: −$25
• Flood insurance flood zone: −$314 /mo · $3,765/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$234
• Net cashflow: $153

Break-even live

Break-even rent $922

Max offer price $60,000

Occupancy floor 81%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-05-06
   status Active 548-char remark

   Show marketing remark (548 chars)

   This inviting 3 bedroom, 2 bathroom home sits on extra lots with a back deck and an above ground pool and a wood burning fire place. This home offers plenty of space and comfort. Complete with a convenient carport and 3 additional lots included. Enjoy your summer days relaxing by your own pool. With its functional layout, cozy living areas, and outdoors amenities, this property combines everyday comfort with incredible potential. Being sold AS IS. Don't miss the chance to own a home with space and a spacious yard that you've been looking for.

2. 2026-04-06
   status Pending 548-char remark

   Show marketing remark (548 chars)

   This inviting 3 bedroom, 2 bathroom home sits on extra lots with a back deck and an above ground pool and a wood burning fire place. This home offers plenty of space and comfort. Complete with a convenient carport and 3 additional lots included. Enjoy your summer days relaxing by your own pool. With its functional layout, cozy living areas, and outdoors amenities, this property combines everyday comfort with incredible potential. Being sold AS IS. Don't miss the chance to own a home with space and a spacious yard that you've been looking for.

3. 2026-02-23
   price $60,000 548-char remark

   Show marketing remark (548 chars)

   This inviting 3 bedroom, 2 bathroom home sits on extra lots with a back deck and an above ground pool and a wood burning fire place. This home offers plenty of space and comfort. Complete with a convenient carport and 3 additional lots included. Enjoy your summer days relaxing by your own pool. With its functional layout, cozy living areas, and outdoors amenities, this property combines everyday comfort with incredible potential. Being sold AS IS. Don't miss the chance to own a home with space and a spacious yard that you've been looking for.

4. 2026-01-28
   historical
5. 2026-01-20
   status Active
6. 2026-01-14
   historical
7. 2026-01-08
   status Active
8. 2026-01-06
   historical
9. 2026-01-05
   historical
10. 2025-10-30
    price
11. 2025-10-10
    price
12. 2025-09-17
    listed Active
13. 2025-09-14
    listed $68,000 Active 548-char remark

    Show marketing remark (548 chars)

    This inviting 3 bedroom, 2 bathroom home sits on extra lots with a back deck and an above ground pool and a wood burning fire place. This home offers plenty of space and comfort. Complete with a convenient carport and 3 additional lots included. Enjoy your summer days relaxing by your own pool. With its functional layout, cozy living areas, and outdoors amenities, this property combines everyday comfort with incredible potential. Being sold AS IS. Don't miss the chance to own a home with space and a spacious yard that you've been looking for.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone A · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥108°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: $13,387
• − Mortgage interest: −$3,361
• − Property taxes: −$900
• − Insurance: −$4,065
• − Repairs & maintenance: −$1,071
• − Management: −$1,071
• − Depreciation: −$1,745
• Taxable income: $1,174
• Est. tax owed @ 24.0%: −$282
• After-tax cash flow: $1,553/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: Zeigler-Royalton CUSD 188
• NCES district ID: 1743800
• Math proficiency: 10% ▼ -6.00%
• Reading proficiency: 20% ▼ -4.00%
• Median HH income: $37,645
• Composite: 12.55/100
• National rank: #9621
• State rank: #524 of 620 in IL

Livability — Zeigler

• Score: 60/100
• State rank: #1012
• US rank: #19423

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Zeigler, IL
• Population (ZIP): 1,345

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 (98%)
• Race & ethnicity: White 98% Two or more races 1%
• Common ancestry: Romanian 3% Lithuanian 2% Slovak 2%
• Foreign-born: 0%
• Languages at home: 98% English-only · Other Indo-European 2% 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: ▲ 0.29%
• Current HPI: 81.042
• 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

-11.8% since first listed

13 events — show timeline

• 2026-05-06 Relisted — RMLSA as Distributed by MLS Grid
• 2026-04-06 Pending — RMLSA as Distributed by MLS Grid
• 2026-02-23 Price Changed $60,000 RMLSA as Distributed by MLS Grid
• 2026-01-28 Listing Removed — MRED as Distributed by MLS Grid
• 2026-01-20 Relisted — MRED as Distributed by MLS Grid
• 2026-01-14 Listing Removed — MRED as Distributed by MLS Grid
• 2026-01-08 Relisted — MRED as Distributed by MLS Grid
• 2026-01-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2026-01-05 Listing Removed — MRED as Distributed by MLS Grid
• 2025-10-30 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-10-10 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-09-17 Listed — RMLSA as Distributed by MLS Grid
• 2025-09-14 Listed $68,000 RMLSA as Distributed by MLS Grid

Property tax history

+0.2%/yr

Latest (2019): $11 · +0.5% YoY. Source: county tax records.