1317 W Cherry St St · Herrin, IL 62948

$60,000

3 bd · 1.0 ba · 1,397 sqft · SingleFamily · 40 Days on market

Built 1950 6,969 sqft lot Est $119k · 49% under ↓ 29% 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Welcome to this charming fixer-upper nestled in the heart of Herrin, IL, offering endless potential for visionaries seeking a personal touch. This 3-bedroom, 1 bath home awaits your creative touch to breathe new life into its walls. There is also a bonus/utility room and a 1 car garage for added space. Whether you're an investor or a hands-on homeowner eager to make improvements, seize the opportunity now before it's gone! ** This home is being sold AS IS.** *The listing agent of this property is related to the owner*

Key facts

• 6,969 sq ft lot
• Garage
• Built 1950

Property features AI

Finance

• Financial info: Property owned fee simple; Possession at closing; Tax exemption: Returning veteran

Exterior

• Parking: Detached garage (1 car)
• Utilities: Public water; Public sewer; 200+ amp electric service
• Home design: Detached single-family home; One-story
• Construction: Frame construction; Block foundation; Built approximately 71–80 years ago; Built before 1978
• Exterior features: Level lot; Lot dimensions approximately 140 x 50

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas baseboard heat; Other cooling
• Interior features: Crawl space with egress window

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $60k.

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 $60k).
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.4% vs local median 8.5% 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: 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; 2 comparable units currently listed for rent nearby; 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 $415 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 $17k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts; this cycle's ask has dropped $5k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $46k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1950 — 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 $58,200 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 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 1950 — 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: 1.75% ✓
• Cap rate: 14.43%
• Cash-on-cash: 29.08%
• DSCR: 2.29
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $118,745
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1317 W Cherry St	0.00mi	3/1.0	1,397 (0%)	4mo	$46,000	$33	97
1200 W Adams St	0.19mi	3/1.0	1,428 (+2%)	4mo	$123,600	$87	84
1801 W Adams St	0.34mi	3/2.0	1,430 (+2%)	3mo	$233,000	$163	74
509 W Madison St	0.45mi	3/2.0	1,456 (+4%)	5mo	$130,000	$89	64
216 S 18th St	0.58mi	3/1.0	1,350 (-3%)	10mo	$64,000	$47	59
1807 W Cherry St	0.34mi	3/2.0	1,276 (-9%)	10mo	$180,000	$141	57
604 S 23rd St	0.50mi	2/1.0 (-1)	1,312 (-6%)	5mo	$50,000	$38	57
612 N 17th St	0.71mi	3/1.0	1,338 (-4%)	11mo	$165,500	$124	51
113 S 21st St	0.36mi	2/2.0 (-1)	1,251 (-10%)	10mo	$82,000	$66	48
717 S 18th St	0.73mi	3/1.0	1,234 (-12%)	3mo	$105,100	$85	44
313 S 18th St	0.57mi	3/1.0	1,212 (-13%)	10mo	$47,000	$39	43
500 S 19th St	0.60mi	4/1.0 (+1)	1,568 (+12%)	6mo	$28,000	$18	42

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: 23.5%
• Equity multiple: 1.97×
• Total profit: $16,224
• Equity at exit: $8,946

10-year hold

• IRR: 31.4%
• Equity multiple: 3.83×
• Total profit: $47,595
• Equity at exit: $5,188

Cash invested: $16,800 (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 62948

• Home prices YoY: -34.1%
• Active inventory: 91
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,049 medium
• Mortgage (P&I): −$315
• Tax from tax record: −$82 /mo · $987/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$220
• Net cashflow: $407

Break-even live

Break-even rent $534

Max offer price $60,000

Occupancy floor 56%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6 Court C Herrin, IL	2.0	1.0	900	$895	$0.99	43d	1	0.80mi
3 Ct D Herrin, IL	3.0	1.0	1000	$1,195	$1.20	43d	1	0.84mi

Listing history 15 events

1. 2026-05-22
   status Active
2. 2026-02-24
   soldstatus $46,000 Closed 525-char remark

   Show marketing remark (525 chars)

   Welcome to this charming fixer-upper nestled in the heart of Herrin, IL, offering endless potential for visionaries seeking a personal touch. This 3-bedroom, 1 bath home awaits your creative touch to breathe new life into its walls. There is also a bonus/utility room and a 1 car garage for added space. Whether you're an investor or a hands-on homeowner eager to make improvements, seize the opportunity now before it's gone! ** This home is being sold AS IS.** *The listing agent of this property is related to the owner*

3. 2026-02-24
   soldstatus $46,000

   Show marketing remark (525 chars)

   Welcome to this charming fixer-upper nestled in the heart of Herrin, IL, offering endless potential for visionaries seeking a personal touch. This 3-bedroom, 1 bath home awaits your creative touch to breathe new life into its walls. There is also a bonus/utility room and a 1 car garage for added space. Whether you're an investor or a hands-on homeowner eager to make improvements, seize the opportunity now before it's gone! ** This home is being sold AS IS.** *The listing agent of this property is related to the owner*

4. 2026-01-28
   historical
5. 2026-01-19
   listed Under Contract 525-char remark

   Show marketing remark (525 chars)

   Welcome to this charming fixer-upper nestled in the heart of Herrin, IL, offering endless potential for visionaries seeking a personal touch. This 3-bedroom, 1 bath home awaits your creative touch to breathe new life into its walls. There is also a bonus/utility room and a 1 car garage for added space. Whether you're an investor or a hands-on homeowner eager to make improvements, seize the opportunity now before it's gone! ** This home is being sold AS IS.** *The listing agent of this property is related to the owner*

6. 2026-01-16
   status Active
7. 2026-01-14
   historical
8. 2026-01-08
   status Active
9. 2026-01-06
   historical
10. 2026-01-05
    price $60,000
11. 2025-12-16
    historical
12. 2025-12-16
    status Active
13. 2025-11-24
    historical Under Contract
14. 2025-11-10
    listed $65,000 525-char remark

    Show marketing remark (525 chars)

    Welcome to this charming fixer-upper nestled in the heart of Herrin, IL, offering endless potential for visionaries seeking a personal touch. This 3-bedroom, 1 bath home awaits your creative touch to breathe new life into its walls. There is also a bonus/utility room and a 1 car garage for added space. Whether you're an investor or a hands-on homeowner eager to make improvements, seize the opportunity now before it's gone! ** This home is being sold AS IS.** *The listing agent of this property is related to the owner*

15. 2025-11-10
    listed Active

    Show marketing remark (525 chars)

    Welcome to this charming fixer-upper nestled in the heart of Herrin, IL, offering endless potential for visionaries seeking a personal touch. This 3-bedroom, 1 bath home awaits your creative touch to breathe new life into its walls. There is also a bonus/utility room and a 1 car garage for added space. Whether you're an investor or a hands-on homeowner eager to make improvements, seize the opportunity now before it's gone! ** This home is being sold AS IS.** *The listing agent of this property is related to the owner*

ⓘ 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: $987 · $82/mo
• Projected year-2 tax: $1,174 · $98/mo
• Expected delta: +$188/yr (+$16/mo · 19.0%)

ⓘ 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 3/10 Moderate
• 🌡 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 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,592
• − Mortgage interest: −$3,361
• − Property taxes: −$987
• − Insurance: −$300
• − Repairs & maintenance: −$1,007
• − Management: −$1,007
• − Depreciation: −$1,745
• Taxable income: $4,184
• Est. tax owed @ 24.0%: −$1,004
• After-tax cash flow: $3,881/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

-29.2% since first listed

15 events — show timeline

• 2026-05-22 Relisted — MRED as Distributed by MLS Grid
• 2026-02-24 Sold (Public Records) $46,000 Public Records
• 2026-02-24 Sold (MLS) $46,000 RMLSA as Distributed by MLS Grid
• 2026-01-28 Listing Removed — MRED as Distributed by MLS Grid
• 2026-01-19 Listed — RMLSA 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 — MRED as Distributed by MLS Grid
• 2026-01-05 Price Changed $60,000 MRED as Distributed by MLS Grid
• 2025-12-16 Listing Removed — RMLSA as Distributed by MLS Grid
• 2025-12-16 Relisted — RMLSA as Distributed by MLS Grid
• 2025-11-24 Contingent — RMLSA as Distributed by MLS Grid
• 2025-11-10 Listed — RMLSA as Distributed by MLS Grid
• 2025-11-10 Listed $65,000 RMLSA as Distributed by MLS Grid

Property tax history

+8.8%/yr

Latest (2025): $987 · +43.0% YoY. Source: county tax records.