1020 N 16th St · Herrin, IL 62948

$64,000

2 bd · 1.0 ba · 1,100 sqft · Other · 31 Days on market

Built 1945 0.32 ac lot ↓ 3% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Looking for a Investment property? 2 bedroom 1 bath home located on a double size corner lot in Herrin. Features include a enclosed front porch, large living room and hardwood flooring throughout. There is a newer hot water heater and roof, 1 car attached carport behind home and storage shed. This home was previously used as a rental property and with a little TLC would continue to make a investment property or a possible fix & flip. Potential to build another home or duplex on the extra lot. Previously there was a mobile home located behind the home so utilities should already be in place. Call today to make your offer !

Key facts

• Double corner lot
• Walls of windows
• Elevated ceilings

Tags

• DOUBLE CORNER LOT
• ENCLOSED PORCH
• BUILT-IN BOOKSHELVES
• WALLS OF WINDOWS
• ORIGINAL HARDWOOD FLOORS
• ELEVATED CEILINGS

Property features AI

Exterior

• Parking: No garage; carport
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; Built before 1978
• Construction: Frame construction with aluminum siding; Estimated age: 71–80 years
• Exterior features: Corner, level lot (100 x 140)

Interior

• Kitchen: Kitchen on main level (11 x 13) with vinyl flooring
• Bedrooms: Master bedroom on main level (14 x 13) with hardwood flooring and a shared full bath; Second bedroom on main level (10 x 11) with hardwood flooring
• Flooring: Hardwood flooring in living room and bedrooms; Vinyl flooring in kitchen
• Bathrooms: One full bathroom
• Heating & cooling: Electric heating available; Natural gas heating available
• Interior features: Combined dining and living room; Crawl space basement with egress window

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $64k.

Deal economics

• At list price, monthly cash flow is $407 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $64k).
• Recommended offer: $62k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.9% vs local median 8.7% in Herrin — 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 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: 93 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 47d 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 $442 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 $18k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago; this cycle's ask is 60% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $34k; list at $64k implies a 88% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $62,080 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.72% ✓
• Cap rate: 13.93%
• Cash-on-cash: 27.27%
• DSCR: 2.21
• GRM: 4.9

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: 21.3%
• Equity multiple: 1.87×
• Total profit: $15,592
• Equity at exit: $9,543

10-year hold

• IRR: 29.4%
• Equity multiple: 3.63×
• Total profit: $47,086
• Equity at exit: $5,534

Cash invested: $17,920 (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 62948

• Home prices YoY: -34.1%
• Active inventory: 93
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,099 medium
• Mortgage (P&I): −$336
• Tax from tax record: −$98 /mo · $1,180/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $407

Break-even live

Break-even rent $583

Max offer price $64,000

Occupancy floor 58%

Sensitivity live

Price	-10% $443	-5% $425	+0% $407	+5% $389	+10% $371
Rent	-10% $320	-5% $364	+0% $407	+5% $451	+10% $494
Rate	-1.0pp $439	-0.5pp $423	base $407	+0.5pp $391	+1.0pp $374

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: $16,000
• Closing costs: $1,920
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
715 N 35th St Unit D Herrin, IL	2.0	1.0	850	$1,200	$1.41	46d	1	1.26mi
6 Court C Herrin, IL	2.0	1.0	900	$895	$0.99	46d	1	1.31mi
3 Ct D Herrin, IL	3.0	1.0	1000	$1,195	$1.20	46d	1	1.36mi

Listing history 16 events

1. 2026-05-22
   status Active
2. 2026-01-17
   historical
3. 2026-01-06
   historical
4. 2025-11-12
   price
5. 2025-09-12
   listed Active
6. 2023-06-05
   soldstatus $34,000 634-char remark

   Show marketing remark (634 chars)

   Looking for a Investment property? 2 bedroom 1 bath home located on a double size corner lot in Herrin. Features include a enclosed front porch, large living room and hardwood flooring throughout. There is a newer hot water heater and roof, 1 car attached carport behind home and storage shed. This home was previously used as a rental property and with a little TLC would continue to make a investment property or a possible fix & flip. Potential to build another home or duplex on the extra lot. Previously there was a mobile home located behind the home so utilities should already be in place. Call today to make your offer !

7. 2023-06-05
   soldstatus $34,000 Closed 634-char remark

   Show marketing remark (634 chars)

   Looking for a Investment property? 2 bedroom 1 bath home located on a double size corner lot in Herrin. Features include a enclosed front porch, large living room and hardwood flooring throughout. There is a newer hot water heater and roof, 1 car attached carport behind home and storage shed. This home was previously used as a rental property and with a little TLC would continue to make a investment property or a possible fix & flip. Potential to build another home or duplex on the extra lot. Previously there was a mobile home located behind the home so utilities should already be in place. Call today to make your offer !

8. 2023-05-22
   soldstatus $34,000
9. 2023-04-11
   historical Under Contract 634-char remark

   Show marketing remark (634 chars)

   Looking for a Investment property? 2 bedroom 1 bath home located on a double size corner lot in Herrin. Features include a enclosed front porch, large living room and hardwood flooring throughout. There is a newer hot water heater and roof, 1 car attached carport behind home and storage shed. This home was previously used as a rental property and with a little TLC would continue to make a investment property or a possible fix & flip. Potential to build another home or duplex on the extra lot. Previously there was a mobile home located behind the home so utilities should already be in place. Call today to make your offer !

10. 2023-03-13
    listed $39,900 634-char remark

    Show marketing remark (634 chars)

    Looking for a Investment property? 2 bedroom 1 bath home located on a double size corner lot in Herrin. Features include a enclosed front porch, large living room and hardwood flooring throughout. There is a newer hot water heater and roof, 1 car attached carport behind home and storage shed. This home was previously used as a rental property and with a little TLC would continue to make a investment property or a possible fix & flip. Potential to build another home or duplex on the extra lot. Previously there was a mobile home located behind the home so utilities should already be in place. Call today to make your offer !

11. 2023-03-13
    listed $39,900 Active 634-char remark

    Show marketing remark (634 chars)

    Looking for a Investment property? 2 bedroom 1 bath home located on a double size corner lot in Herrin. Features include a enclosed front porch, large living room and hardwood flooring throughout. There is a newer hot water heater and roof, 1 car attached carport behind home and storage shed. This home was previously used as a rental property and with a little TLC would continue to make a investment property or a possible fix & flip. Potential to build another home or duplex on the extra lot. Previously there was a mobile home located behind the home so utilities should already be in place. Call today to make your offer !

12. 2021-08-06
    historical
13. 2021-08-06
    historical
14. 2015-07-19
    historical
15. 2014-04-04
    historical
16. 2005-08-19
    soldstatus $35,000

ⓘ 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: $1,180 · $98/mo
• Projected year-2 tax: $1,317 · $110/mo
• Expected delta: +$136/yr (+$11/mo · 11.5%)

ⓘ 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 · 21 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: $13,183
• − Mortgage interest: −$3,585
• − Property taxes: −$1,180
• − Insurance: −$320
• − Repairs & maintenance: −$1,055
• − Management: −$1,055
• − Depreciation: −$1,862
• Taxable income: $4,126
• Est. tax owed @ 24.0%: −$990
• After-tax cash flow: $3,896/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

-2.9% since first listed

16 events — show timeline

• 2026-05-22 Relisted — MRED as Distributed by MLS Grid
• 2026-01-17 Listing Removed — MRED as Distributed by MLS Grid
• 2026-01-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2025-11-12 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-09-12 Listed — RMLSA as Distributed by MLS Grid
• 2023-06-05 Sold (MLS) $34,000 RMLSA as Distributed by MLS Grid
• 2023-06-05 Sold (MLS) $34,000 MRED as Distributed by MLS Grid
• 2023-05-22 Sold (Public Records) $34,000 Public Records
• 2023-04-11 Contingent — RMLSA as Distributed by MLS Grid
• 2023-03-13 Listed $39,900 RMLSA as Distributed by MLS Grid
• 2023-03-13 Listed $39,900 MRED as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2015-07-19 Listing Removed — MRED as Distributed by MLS Grid
• 2014-04-04 Listing Removed — MRED as Distributed by MLS Grid
• 2005-08-19 Sold (Public Records) $35,000 Public Records

Property tax history

+3.6%/yr

Latest (2025): $1,180 · +2.2% YoY. Source: county tax records.