17187 Illinois Highway 148 · Herrin, IL 62948

$95,000

2 bd · 1.0 ba · 907 sqft · SingleFamily · 111 Days on market

Built 1959 1.47 ac lot $105/sqft · 10% above area Est $86k · 10% over ↓ 17% 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 +28.6/30.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• Livability +3.2/5.0
• ARV discount +3.0/15.0
• 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

Located just outside of Herrin, this 2-bedroom, 1-bath home sits on approximately 1.47 acres, offering space, privacy, and room to create your own rural retreat. Built in 1959, the home features a generously sized living room, dedicated dining area, and functional kitchen layout that provides flexibility for everyday living. The property includes a detached garage and additional outbuilding, offering space for storage, workshop use, equipment, or hobby projects. The expansive yard provides opportunity for gardening, small livestock (subject to local regulations), outdoor recreation, or future improvements. Utilities include well water and septic system. With manageable acreage and open surroundings, this property offers potential for those seeking a country lifestyle, hobby farm setup, or homesteading opportunity while still being within convenient driving distance of town amenities.

Key facts

• Expansive yard
• Hobby farm setup
• Detached garage

Tags

• DETACHED GARAGE
• ADDITIONAL OUTBUILDING
• EXPANSIVE YARD
• HOBBY FARM SETUP
• HOMESTEADING OPPORTUNITY

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $313 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $86k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.3% vs local median 8.5% in Herrin — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: schools D, crime D-, amenities 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.
• Market conditions: 91 active listings in the ZIP; 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 $657 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 111 days — a 9% lower offer ($86k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1959 — 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 $86,450 (9.0% below list)

Questions for the listing agent

1. It's been on market 111 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.29% ✓
• Cap rate: 10.25%
• Cash-on-cash: 14.14%
• DSCR: 1.63
• GRM: 6.4

CMA / ARV

• ARV (median comp): $86,381
• List price: $95,000
• Delta: 9.98%
• Verdict: FAIR
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 4.5%
• Equity multiple: 1.17×
• Total profit: $4,588
• Equity at exit: $14,165

10-year hold

• IRR: 13.9%
• Equity multiple: 2.12×
• Total profit: $29,777
• Equity at exit: $8,214

Cash invested: $26,600 (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: 6.4×

Monthly cashflow live

• Estimated rent: $1,228 medium
• Mortgage (P&I): −$498
• Tax est. 1.5%: −$119 /mo · $1,425/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $313

Break-even live

Break-even rent $831

Max offer price $95,000

Occupancy floor 69%

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $95,000 Under Contract 111 DOM
2. 2026-06-18
   days on market $95,000 Under Contract 110 DOM
3. 2026-06-17
   days on market $95,000 Under Contract 109 DOM
4. 2026-06-16
   days on market $95,000 Under Contract 108 DOM
5. 2026-06-15
   days on market $95,000 Under Contract 107 DOM
6. 2026-06-14
   days on market $95,000 Under Contract 105 DOM
7. 2026-06-13
   days on market $95,000 Under Contract 104 DOM
8. 2026-06-10
   days on market $95,000 Under Contract 102 DOM
9. 2026-06-09
   days on market $95,000 Under Contract 101 DOM
10. 2026-06-08
    days on market $95,000 Under Contract 100 DOM
11. 2026-06-07
    days on market $95,000 Under Contract 99 DOM
12. 2026-06-03
    days on market $95,000 Under Contract 95 DOM
13. 2026-06-02
    days on market $95,000 Under Contract 94 DOM
14. 2026-06-01
    days on market $95,000 Under Contract 93 DOM
15. 2026-05-31
    days on market $95,000 Under Contract 92 DOM
16. 2026-05-30
    days on market $95,000 Under Contract 91 DOM
17. 2026-04-29
    price $95,000 899-char remark

    Show marketing remark (899 chars)

    Located just outside of Herrin, this 2-bedroom, 1-bath home sits on approximately 1.47 acres, offering space, privacy, and room to create your own rural retreat. Built in 1959, the home features a generously sized living room, dedicated dining area, and functional kitchen layout that provides flexibility for everyday living. The property includes a detached garage and additional outbuilding, offering space for storage, workshop use, equipment, or hobby projects. The expansive yard provides opportunity for gardening, small livestock (subject to local regulations), outdoor recreation, or future improvements. Utilities include well water and septic system. With manageable acreage and open surroundings, this property offers potential for those seeking a country lifestyle, hobby farm setup, or homesteading opportunity while still being within convenient driving distance of town amenities.

18. 2026-02-27
    listed $115,000 Active 899-char remark

    Show marketing remark (899 chars)

    Located just outside of Herrin, this 2-bedroom, 1-bath home sits on approximately 1.47 acres, offering space, privacy, and room to create your own rural retreat. Built in 1959, the home features a generously sized living room, dedicated dining area, and functional kitchen layout that provides flexibility for everyday living. The property includes a detached garage and additional outbuilding, offering space for storage, workshop use, equipment, or hobby projects. The expansive yard provides opportunity for gardening, small livestock (subject to local regulations), outdoor recreation, or future improvements. Utilities include well water and septic system. With manageable acreage and open surroundings, this property offers potential for those seeking a country lifestyle, hobby farm setup, or homesteading opportunity while still being within convenient driving distance of town amenities.

ⓘ 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 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 3/10 Moderate 4% 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: $14,734
• − Mortgage interest: −$5,321
• − Property taxes: −$1,425
• − Insurance: −$475
• − Repairs & maintenance: −$1,179
• − Management: −$1,179
• − Depreciation: −$2,764
• Taxable income: $2,391
• Est. tax owed @ 24.0%: −$574
• After-tax cash flow: $3,187/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

• 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

-17.4% since first listed

2 events — show timeline

• 2026-04-29 Price Changed $95,000 RMLSA as Distributed by MLS Grid
• 2026-02-27 Listed $115,000 RMLSA as Distributed by MLS Grid

Property tax history

+0.2%/yr

Latest (2025): $52 · -3.5% YoY. Source: county tax records.