1509 E 4th St · West Frankfort, IL 62896

$70,500

3 bd · 2.0 ba · 1,644 sqft · SingleFamily · 78 Days on market

Built 1920 0.34 ac lot ↓ 3% 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 +28.2/30.0
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• ARV discount +7.5/15.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks

Motivated Seller. Home sits on right at 1/3 of an acre on corner 2 lots within walking distance to the Middle School and Jr High. Home has 30 x 50, Windmaster pole barn that is heated with natural gas overhead furnace, with concrete floor, overhead door and side door. Concrete block garage is 30 x 30, with concrete floor and is heated with stove that burns coal or wood. Concrete front porch, concrete patio between house and block garage, Asphalt 47 x 30 parking area in front of block garage. Home does need some TLC. The 2nd bath could be made into a private suite, which would let you have another bedroom. Large informal dining area. Eat in kitchen. 2nd bath is handicapped accessible. Home S

Key facts

• Concrete front porch
• Corner 2 lots
• Heated with stove

Tags

• CORNER 2 LOTS
• 30 X 50 WINDMASTER POLE BARN
• HEATED WITH NATURAL GAS
• CONCRETE BLOCK GARAGE
• HEATED WITH STOVE
• CONCRETE FRONT PORCH

Property features AI

Finance

• Financial info: No special service area; Tax exemptions: Homeowner, Returning Vet, Senior

Exterior

• Parking: Detached oversized garage with 2 garage spaces (2 total parking spaces)
• Utilities: Public water; Public sewer; 100 amp electric service
• Home design: Detached single-family home; One-story layout; Fee simple ownership; Age: 100+ years; Built before 1978
• Construction: Vinyl siding with frame construction; Block foundation
• Exterior features: Patio; Corner, level lot

Interior

• Kitchen: Kitchen on the main level
• Bedrooms: 3 bedrooms (all on the main level); Master bedroom on the main level
• Flooring: Carpet flooring throughout main living areas and bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Crawl space with egress window; School bus service available; Disability access

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $224 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($900 rent vs $70k).
• Recommended offer: $66k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.1% vs local median 5.8% in West Frankfort — 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 56/100 on livability (#1,210 in IL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime D, schools F, amenities F.
• Frankfort CUSD 168 (town): math 6% / reading 16% proficiency, ranked #577 of 620 in IL (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 90 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 17 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $487 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Franklin County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1920 — 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 $66,270 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 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 1920 — 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 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. 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: 1.28% ✓
• Cap rate: 10.10%
• Cash-on-cash: 13.60%
• DSCR: 1.61
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $141,384
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1509 E 4th St	0.00mi	3/2.0	1,644 (0%)	4mo	$56,700	$34	97
1504 E Oak St	0.37mi	3/2.0	1,645 (+0%)	6mo	$160,000	$97	77
1303 E 4th St	0.16mi	2/3.0 (-1)	1,700 (+3%)	1mo	$50,000	$29	77
1002 E Main St	0.47mi	3/2.0	1,632 (-1%)	4mo	$159,900	$98	73
201 N Day St	0.27mi	3/2.0	1,514 (-8%)	1mo	$170,000	$112	73
1406 Timothy Ln	0.44mi	3/2.0	1,664 (+1%)	9mo	$245,000	$147	70
1406 Timothy Ln	0.44mi	3/2.0	1,664 (+1%)	9mo	$245,000	$147	70
1106 E St Louis St	0.32mi	4/2.0 (+1)	1,705 (+4%)	9mo	$97,000	$57	66
1106 E St Louis St	0.32mi	4/2.0 (+1)	1,705 (+4%)	9mo	$97,000	$57	66
708 E St. Louis St	0.55mi	3/1.0	1,500 (-9%)	1mo	$99,000	$66	54
1506 E Oak St	0.37mi	4/2.0 (+1)	1,825 (+11%)	8mo	$126,000	$69	53
601 S Binkley St	0.66mi	3/2.0	1,875 (+14%)	2mo	$160,650	$86	44

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 3.7%
• Equity multiple: 1.14×
• Total profit: $2,843
• Equity at exit: $10,512

10-year hold

• IRR: 13.3%
• Equity multiple: 2.06×
• Total profit: $20,884
• Equity at exit: $6,096

Cash invested: $19,740 (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 62896

• Active inventory: 90
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $900 medium
• Mortgage (P&I): −$370
• Tax est. 1.5%: −$88 /mo · $1,058/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$189
• Net cashflow: $224

Break-even live

Break-even rent $617

Max offer price $70,500

Occupancy floor 70%

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: $17,625
• Closing costs: $2,115
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
403 E Poplar St West Frankfort, IL	3.0	1.0	1200	$900	$0.75	43d	1	0.76mi

Listing history 22 events

1. 2026-05-22
   listed $70,500 Active
2. 2026-05-22
   price $70,500
3. 2026-03-05
   soldstatus Closed
4. 2026-01-29
   historical Contingent - Continue to Show
5. 2026-01-20
   price $62,500
6. 2026-01-18
   price $68,500
7. 2026-01-11
   price $70,500
8. 2026-01-08
   status Active
9. 2026-01-07
   historical
10. 2026-01-06
    price $72,500
11. 2026-01-06
    historical
12. 2025-12-15
    price
13. 2025-11-19
    price
14. 2025-11-10
    price
15. 2025-11-10
    price
16. 2025-11-04
    price
17. 2025-10-27
    price
18. 2025-08-29
    price
19. 2025-08-06
    price
20. 2025-07-14
    price
21. 2025-07-02
    price
22. 2025-06-29
    listed Active

ⓘ 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 ≥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: $10,800
• − Mortgage interest: −$3,949
• − Property taxes: −$1,058
• − Insurance: −$352
• − Repairs & maintenance: −$864
• − Management: −$864
• − Depreciation: −$2,051
• Taxable income: $1,662
• Est. tax owed @ 24.0%: −$399
• After-tax cash flow: $2,287/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: Frankfort CUSD 168
• NCES district ID: 1741580
• Math proficiency: 6% ▼ -9.00%
• Reading proficiency: 16% ▼ -10.00%
• Median HH income: $34,447
• Composite: 8.93/100
• National rank: #9886
• State rank: #577 of 620 in IL

Livability — West Frankfort

• Score: 56/100
• State rank: #1210
• US rank: #22742

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Frankfort, IL
• City population: 10,691
• Population (ZIP): 10,691

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 (96%)
• Race & ethnicity: White 96% Two or more races 2%
• Common ancestry: Romanian 2% Lithuanian 1% Iranian 1%
• Foreign-born: 1% · Canada, Jamaica
• Languages at home: 98% English-only · 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: ▼ -94.00%
• Current HPI: 86.36
• 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

-2.8% since first listed

22 events — show timeline

• 2026-05-22 Listed $70,500 MRED as Distributed by MLS Grid
• 2026-05-22 Price Changed $70,500 MRED as Distributed by MLS Grid
• 2026-03-05 Sold (MLS) — MRED as Distributed by MLS Grid
• 2026-01-29 Contingent — MRED as Distributed by MLS Grid
• 2026-01-20 Price Changed $62,500 MRED as Distributed by MLS Grid
• 2026-01-18 Price Changed $68,500 MRED as Distributed by MLS Grid
• 2026-01-11 Price Changed $70,500 MRED as Distributed by MLS Grid
• 2026-01-08 Relisted — MRED as Distributed by MLS Grid
• 2026-01-07 Listing Removed — MRED as Distributed by MLS Grid
• 2026-01-06 Price Changed $72,500 MRED as Distributed by MLS Grid
• 2026-01-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2025-12-15 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-11-19 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-11-10 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-11-10 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-11-04 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-10-27 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-08-29 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-08-06 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-07-14 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-07-02 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-06-29 Listed — RMLSA as Distributed by MLS Grid