611 E Meridian St · Marion, IL 62959

$85,000

2 bd · 1.0 ba · 984 sqft · Other · 53 Days on market

Built 1925 6,720 sqft lot ↓ 9% since listing

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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 +22.6/30.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• 1% rule +6.4/10.0
• 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

Welcome to 611 E Meridian, a charming 2-bedroom, 1-bath bungalow located just a few blocks from Marion's Tower Square Plaza. This inviting home combines classic character with modern updates, making it an excellent choice for first-time buyers, downsizers, or investors. Inside, you'll find newer flooring throughout and an updated bathroom. The functional floor plan includes a spacious living area and an informal dining room. With its open feel, the dining room could be added to the living room for additional space. Also there is a convenient main-level laundry. Natural light fills the rooms, giving the home a warm and welcoming feel. Outside, enjoy the detached garage for extra storage or p

Key facts

• Low maintenance yard
• Spacious living area
• Main level laundry

Tags

• DETACHED GARAGE
• LOW MAINTENANCE YARD
• MAIN LEVEL LAUNDRY
• UPDATED BATHROOM
• SPACIOUS LIVING AREA
• INFORMAL DINING ROOM

Property features AI

Finance

• Financial info: Annual tax information available

Exterior

• Parking: Detached garage; Shared driveway; 2 total parking spaces (2 garage spaces)
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; Built approximately 91–100 years ago; Property built before 1978
• Construction: Frame construction; Block foundation
• Exterior features: Front porch; Deck; Lot on a cul-de-sac; Lot dimensions approximately 42 x 160

Interior

• Kitchen: Disposal
• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating
• Interior features: Partial, unfinished basement with egress window

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $85k.

Deal economics

• At list price, monthly cash flow is $145 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($965 rent vs $85k).
• Recommended offer: $82k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.3% 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, crime F, amenities 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.
• Zoned schools: Marion Jr High School (math 16% / reading 31%, grade F, #371 of 665 statewide, top 56%, 726 students, 0% FRL); Marion High School (math 14% / reading 18%, grade F, #457 of 693 statewide, top 66%, 1,159 students, 0% FRL) — zoned schools average 0% FRL vs 47% district-wide (47 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+8.4%/yr); 226 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 130 units permitted in Williamson County in 2024 (5 in 5+ unit buildings).
• This rent is only 16% 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 $588 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $24k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 16y ago; this cycle's ask is 75% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $45k; list at $85k implies a 89% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: 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 $82,450 (3.0% below list)

Questions for the listing agent

1. It's been on market 53 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 1925 — 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 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?
5. 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?
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: 1.14% ✓
• Cap rate: 8.34%
• Cash-on-cash: 7.32%
• DSCR: 1.33
• GRM: 7.3

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: 0.6%
• Equity multiple: 1.03×
• Total profit: $604
• Equity at exit: $12,674

10-year hold

• IRR: 15.0%
• Equity multiple: 2.50×
• Total profit: $35,780
• Equity at exit: $7,349

Cash invested: $23,800 (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 62959

• Rents YoY: 8.4%
• Active inventory: 226
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $965 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$136 /mo · $1,635/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$203
• Net cashflow: $145

Break-even live

Break-even rent $782

Max offer price $85,000

Occupancy floor 80%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1700 E Boyton St Apt C Marion, IL	2.0	2.0	1100	$975	$0.89	43d	1	0.76mi
908 N Bentley St Unit 908-F Marion, IL	2.0	1.0	850	$850	$1.00	43d	1	1.33mi

Listing history 20 events

1. 2026-05-22
   status Active
2. 2026-04-02
   historical
3. 2026-02-11
   historical
4. 2026-01-16
   status Active
5. 2026-01-14
   historical
6. 2026-01-08
   status Active
7. 2026-01-06
   historical
8. 2026-01-05
   historical
9. 2025-09-19
   listed Active
10. 2025-09-19
    listed Active
11. 2011-12-08
    soldstatus $45,000
12. 2011-12-08
    soldstatus $45,000
13. 2011-12-08
    soldstatus $45,000
14. 2011-06-25
    listed $48,500
15. 2011-06-25
    listed $48,500
16. 2010-11-30
    soldstatus $46,000
17. 2010-11-30
    soldstatus $46,000
18. 2010-11-30
    soldstatus $46,000
19. 2010-10-12
    listed $49,500
20. 2010-10-12
    listed $49,500

ⓘ 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: $1,635 · $136/mo
• Projected year-2 tax: $1,782 · $149/mo
• Expected delta: +$147/yr (+$12/mo · 9.0%)

ⓘ 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: $11,583
• − Mortgage interest: −$4,761
• − Property taxes: −$1,635
• − Insurance: −$425
• − Repairs & maintenance: −$927
• − Management: −$927
• − Depreciation: −$2,473
• Taxable income: $436
• Est. tax owed @ 24.0%: −$105
• After-tax cash flow: $1,637/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

-9.1% since first listed

20 events — show timeline

• 2026-05-22 Relisted — MRED as Distributed by MLS Grid
• 2026-04-02 Listing Removed — RMLSA as Distributed by MLS Grid
• 2026-02-11 Listing Removed — MRED as Distributed by MLS Grid
• 2026-01-16 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
• 2025-09-19 Listed — RMLSA as Distributed by MLS Grid
• 2025-09-19 Listed — RMLSA as Distributed by MLS Grid
• 2011-12-08 Sold (Public Records) $45,000 Public Records
• 2011-12-08 Sold (MLS) $45,000 RMLSA as Distributed by MLS Grid
• 2011-12-08 Sold (MLS) $45,000 MRED as Distributed by MLS Grid
• 2011-06-25 Listed $48,500 RMLSA as Distributed by MLS Grid
• 2011-06-25 Listed $48,500 MRED as Distributed by MLS Grid
• 2010-11-30 Sold (Public Records) $46,000 Public Records
• 2010-11-30 Sold (MLS) $46,000 MRED as Distributed by MLS Grid
• 2010-11-30 Sold (MLS) $46,000 RMLSA as Distributed by MLS Grid
• 2010-10-12 Listed $49,500 MRED as Distributed by MLS Grid
• 2010-10-12 Listed $49,500 RMLSA as Distributed by MLS Grid

Property tax history

+2.9%/yr

Latest (2025): $1,635 · -0.2% YoY. Source: county tax records.