709 N Garfield St · Marion, IL 62959

$43,000

2 bd · 1.0 ba · 1,100 sqft · Other · 84 Days on market

Built 1925 3,125 sqft lot

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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
• Rent growth +4.6/5.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity for an investor or a homeowner ready to roll up their sleeves and put the final touches on this 2-bedroom, 1-bath home with plenty of potential. The property features a large, expansive backyard perfect for outdoor living, gardening, pets, or future improvements. Conveniently located about 30 minutes from Southern Illinois University, the Marion VA Medical Center, shopping at Walmart, and local attractions like the Williamson County Fairgrounds and Southern Illinois Raceway, this home also offers easy access to incredible outdoor recreation at Crab Orchard National Wildlife Refuge, where you can enjoy hiking, canoeing, hunting, camping, picnicking, wildlife photography, and birdwatching while reconnecting with nature and escaping the stresses of everyday life.

Key facts

• Conveniently located
• 3,125 sq ft lot
• 2 parking spots

Tags

• LARGE EXPANSIVE BACKYARD
• CONVENIENTLY LOCATED

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $43k.

Deal economics

• At list price, monthly cash flow is $417 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $43k).
• Recommended offer: $40k (6.0% below list) — sets the bar for market timing.
• Cap rate 17.9% vs local median 4.0% in Marion — 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 61/100 on livability (#896 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D, schools F, crime F.
• Marion CUSD 2 (urban): math 20% / reading 31% proficiency, ranked #317 of 620 in IL (top 51%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+8.4%/yr); 226 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d 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).
• This rent is only 17% of the median local income ($71k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $297 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $12k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 84 days — a 6% lower offer ($40k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $2k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $30k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.6% of price; built in 1925 — 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 $40,420 (6.0% below list)

Questions for the listing agent

1. It's been on market 84 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. Crime grade is F 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?
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: 2.33% ✓
• Cap rate: 17.92%
• Cash-on-cash: 41.54%
• DSCR: 2.85
• GRM: 3.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 44.3%
• Equity multiple: 3.07×
• Total profit: $24,924
• Equity at exit: $6,411

10-year hold

• IRR: 52.7%
• Equity multiple: 7.66×
• Total profit: $80,197
• Equity at exit: $3,718

Cash invested: $12,040 (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 62959

• Rents YoY: 8.4%
• Active inventory: 226
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,000 medium
• Mortgage (P&I): −$225
• Tax from tax record: −$130 /mo · $1,562/yr
• Insurance: −$18
• HOA: −$0
• Vacancy / Maint / Mgmt: −$210
• Net cashflow: $417

Break-even live

Break-even rent $473

Max offer price $43,000

Occupancy floor 53%

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: $10,750
• Closing costs: $1,290
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
908 N Bentley St Unit 908-F Marion, IL	2.0	1.0	850	$850	$1.00	43d	1	0.98mi
1501 W Central St Marion, IL	2.0	2.0	1175	$1,175	$1.00	43d	1	1.16mi
1700 E Boyton St Apt C Marion, IL	2.0	2.0	1100	$975	$0.89	43d	1	1.17mi

Listing history 17 events

1. 2026-06-05
   days on market $43,000 Active 84 DOM
2. 2026-06-03
   days on market $43,000 Active 83 DOM
3. 2026-06-03
   price $43,000 Active 82 DOM
4. 2026-06-02
   days on market $43,400 Active 82 DOM
5. 2026-06-01
   days on market $43,400 Active 81 DOM
6. 2026-05-31
   days on market $43,400 Active 80 DOM
7. 2026-05-30
   days on market $43,400 Active 79 DOM
8. 2026-05-16
   price $43,400 789-char remark

   Show marketing remark (789 chars)

   Great opportunity for an investor or a homeowner ready to roll up their sleeves and put the final touches on this 2-bedroom, 1-bath home with plenty of potential. The property features a large, expansive backyard perfect for outdoor living, gardening, pets, or future improvements. Conveniently located about 30 minutes from Southern Illinois University, the Marion VA Medical Center, shopping at Walmart, and local attractions like the Williamson County Fairgrounds and Southern Illinois Raceway, this home also offers easy access to incredible outdoor recreation at Crab Orchard National Wildlife Refuge, where you can enjoy hiking, canoeing, hunting, camping, picnicking, wildlife photography, and birdwatching while reconnecting with nature and escaping the stresses of everyday life.

9. 2026-05-04
   price $43,500 789-char remark

   Show marketing remark (789 chars)

   Great opportunity for an investor or a homeowner ready to roll up their sleeves and put the final touches on this 2-bedroom, 1-bath home with plenty of potential. The property features a large, expansive backyard perfect for outdoor living, gardening, pets, or future improvements. Conveniently located about 30 minutes from Southern Illinois University, the Marion VA Medical Center, shopping at Walmart, and local attractions like the Williamson County Fairgrounds and Southern Illinois Raceway, this home also offers easy access to incredible outdoor recreation at Crab Orchard National Wildlife Refuge, where you can enjoy hiking, canoeing, hunting, camping, picnicking, wildlife photography, and birdwatching while reconnecting with nature and escaping the stresses of everyday life.

10. 2026-04-19
    price $44,000 789-char remark

    Show marketing remark (789 chars)

    Great opportunity for an investor or a homeowner ready to roll up their sleeves and put the final touches on this 2-bedroom, 1-bath home with plenty of potential. The property features a large, expansive backyard perfect for outdoor living, gardening, pets, or future improvements. Conveniently located about 30 minutes from Southern Illinois University, the Marion VA Medical Center, shopping at Walmart, and local attractions like the Williamson County Fairgrounds and Southern Illinois Raceway, this home also offers easy access to incredible outdoor recreation at Crab Orchard National Wildlife Refuge, where you can enjoy hiking, canoeing, hunting, camping, picnicking, wildlife photography, and birdwatching while reconnecting with nature and escaping the stresses of everyday life.

11. 2026-04-04
    price $45,000 789-char remark

    Show marketing remark (789 chars)

    Great opportunity for an investor or a homeowner ready to roll up their sleeves and put the final touches on this 2-bedroom, 1-bath home with plenty of potential. The property features a large, expansive backyard perfect for outdoor living, gardening, pets, or future improvements. Conveniently located about 30 minutes from Southern Illinois University, the Marion VA Medical Center, shopping at Walmart, and local attractions like the Williamson County Fairgrounds and Southern Illinois Raceway, this home also offers easy access to incredible outdoor recreation at Crab Orchard National Wildlife Refuge, where you can enjoy hiking, canoeing, hunting, camping, picnicking, wildlife photography, and birdwatching while reconnecting with nature and escaping the stresses of everyday life.

12. 2026-03-30
    price $45,100 789-char remark

    Show marketing remark (789 chars)

    Great opportunity for an investor or a homeowner ready to roll up their sleeves and put the final touches on this 2-bedroom, 1-bath home with plenty of potential. The property features a large, expansive backyard perfect for outdoor living, gardening, pets, or future improvements. Conveniently located about 30 minutes from Southern Illinois University, the Marion VA Medical Center, shopping at Walmart, and local attractions like the Williamson County Fairgrounds and Southern Illinois Raceway, this home also offers easy access to incredible outdoor recreation at Crab Orchard National Wildlife Refuge, where you can enjoy hiking, canoeing, hunting, camping, picnicking, wildlife photography, and birdwatching while reconnecting with nature and escaping the stresses of everyday life.

13. 2026-03-11
    listed $45,300 Active 789-char remark

    Show marketing remark (789 chars)

    Great opportunity for an investor or a homeowner ready to roll up their sleeves and put the final touches on this 2-bedroom, 1-bath home with plenty of potential. The property features a large, expansive backyard perfect for outdoor living, gardening, pets, or future improvements. Conveniently located about 30 minutes from Southern Illinois University, the Marion VA Medical Center, shopping at Walmart, and local attractions like the Williamson County Fairgrounds and Southern Illinois Raceway, this home also offers easy access to incredible outdoor recreation at Crab Orchard National Wildlife Refuge, where you can enjoy hiking, canoeing, hunting, camping, picnicking, wildlife photography, and birdwatching while reconnecting with nature and escaping the stresses of everyday life.

14. 2025-08-29
    historical
15. 2025-08-29
    historical
16. 2025-07-25
    listed Active
17. 2001-09-14
    soldstatus $30,000

ⓘ 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: $1,562 · $130/mo
• Projected year-2 tax: $1,562 · $130/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 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,005
• − Mortgage interest: −$2,409
• − Property taxes: −$1,562
• − Insurance: −$215
• − Repairs & maintenance: −$960
• − Management: −$960
• − Depreciation: −$1,251
• Taxable income: $4,648
• Est. tax owed @ 24.0%: −$1,115
• After-tax cash flow: $3,886/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: Marion CUSD 2
• NCES district ID: 1724600
• Math proficiency: 20% ▼ -11.00%
• Reading proficiency: 31% ▼ -11.00%
• Median HH income: $46,221
• Composite: 22.07/100
• National rank: #8189
• State rank: #317 of 620 in IL

Livability — Marion

• Score: 61/100
• State rank: #896
• US rank: #17434

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Marion, IL
• County: Williamson County · 38,451 people
• City population: 27,793
• Metro: Carbondale-Marion, IL
• Population (ZIP): 27,793
• Household income: $71,063
• Rent vs Own: 29.0% rent · 71.0% own
• Severe rent burden: 763.0

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 (87%)
• Race & ethnicity: White 87% Black 5% Two or more races 4% Hispanic / Latino 3% Asian 2%
• Common ancestry: Lithuanian 2% Italian 2% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Asian/Pacific 1% Other Indo-European 1%

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: ▼ -76.41%
• Current HPI: 137.5955
• Rent YoY: ▲ 8.40%
• Metro: Carbondale-Marion, 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

+44.7% since first listed

10 events — show timeline

• 2026-05-16 Price Changed $43,400 MRED as Distributed by MLS Grid
• 2026-05-04 Price Changed $43,500 MRED as Distributed by MLS Grid
• 2026-04-19 Price Changed $44,000 MRED as Distributed by MLS Grid
• 2026-04-04 Price Changed $45,000 MRED as Distributed by MLS Grid
• 2026-03-30 Price Changed $45,100 MRED as Distributed by MLS Grid
• 2026-03-11 Listed $45,300 MRED as Distributed by MLS Grid
• 2025-08-29 Listing Removed — RMLSA as Distributed by MLS Grid
• 2025-08-29 Listing Removed — MRED as Distributed by MLS Grid
• 2025-07-25 Listed — RMLSA as Distributed by MLS Grid
• 2001-09-14 Sold (Public Records) $30,000 Public Records

Property tax history

+3.7%/yr

Latest (2025): $1,562 · -0.2% YoY. Source: county tax records.