220 S Marion St · Central City, IL 62801

$39,900

3 bd · 1.0 ba · 1,176 sqft · Other public records · 63 Days on market

Built 1920 0.29 ac 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
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome Home to 220 S. Marion Street! This ranch-style home features an attached 1 car garage and approximately 1,176 square feet! SOLD AS-IS. This property is eligible under the Freddie Mac First Look Initiative though 10/28/25. Seller will not complete any repairs to the subject property, either lender or buyer requested. The property is sold in AS IS condition Taxes prorated at 100 precent. EM MUST BE CERTIFIED FUNDS. Info not guaranteed. Seller does not provide survey. Equal Housing Opportunity. AS-IS

Key facts

• 0.29 acre lot
• Garage
• Built 1920

Property features AI

Finance

• Other: Living area reported as about 1,176–1,191 (public records)

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water; Public sewer; Single-phase electric service; Natural gas available
• Home design: Single-family residence; One story
• Construction: Wood siding construction
• Exterior features: Lot features: Other; Lot dimensions approximately 50 x 125

Interior

• Bedrooms: Three bedrooms on the main level
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Five total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $40k.

Deal economics

• At list price, monthly cash flow is $687 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Recommended offer: $38k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#742 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, housing A-; Watch: amenities F, commute F, employment F.
• Centralia Hsd 200 (town): math 21% / reading 26% proficiency, ranked #668 of 919 in IL (top 73%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Centralia High School (math 22% / reading 17%, grade F, #397 of 693 statewide, top 61%, 863 students, 0% FRL).
• Market conditions: 99 active listings in the ZIP; 2 units permitted in Marion County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $276 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Marion County population projected at -20% 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 $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($38k) is reasonable based on typical stale-listing flexibility.
• 2 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.

Recommended offer $37,506 (6.0% below list)

Questions for the listing agent

1. It's been on market 63 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 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. 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: 3.15% ✓
• Cap rate: 26.94%
• Cash-on-cash: 73.75%
• DSCR: 4.28
• GRM: 2.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 73.6%
• Equity multiple: 4.34×
• Total profit: $37,303
• Equity at exit: $5,949

10-year hold

• IRR: 77.4%
• Equity multiple: 8.96×
• Total profit: $88,946
• Equity at exit: $3,450

Cash invested: $11,172 (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 62801

• Home prices YoY: -13.9%
• Active inventory: 99
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $1,256 medium
• Mortgage (P&I): −$209
• Tax from tax record: −$80 /mo · $960/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $687

Break-even live

Break-even rent $387

Max offer price $39,900

Occupancy floor 40%

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: $9,975
• Closing costs: $1,197
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $39,900 Active 63 DOM
2. 2026-06-17
   days on market $39,900 Active 62 DOM
3. 2026-06-16
   days on market $39,900 Active 61 DOM
4. 2026-06-15
   days on market $39,900 Active 60 DOM
5. 2026-06-13
   days on market $39,900 Active 58 DOM
6. 2026-06-12
   days on market $39,900 Active 57 DOM
7. 2026-06-09
   days on market $39,900 Active 54 DOM
8. 2026-06-08
   days on market $39,900 Active 53 DOM
9. 2026-06-07
   days on market $39,900 Active 52 DOM
10. 2026-06-07
    days on market $39,900 Active 51 DOM
11. 2026-06-04
    days on market $39,900 Active 48 DOM
12. 2026-06-02
    days on market $39,900 Active 47 DOM
13. 2026-06-01
    days on market $39,900 Active 46 DOM
14. 2026-05-31
    days on market $39,900 Active 45 DOM
15. 2026-05-31
    days on market $39,900 Active 44 DOM
16. 2026-04-16
    listed $39,900 Active
17. 2026-03-27
    soldstatus Closed 510-char remark

    Show marketing remark (510 chars)

    Welcome Home to 220 S. Marion Street! This ranch-style home features an attached 1 car garage and approximately 1,176 square feet! SOLD AS-IS. This property is eligible under the Freddie Mac First Look Initiative though 10/28/25. Seller will not complete any repairs to the subject property, either lender or buyer requested. The property is sold in AS IS condition Taxes prorated at 100 precent. EM MUST BE CERTIFIED FUNDS. Info not guaranteed. Seller does not provide survey. Equal Housing Opportunity. AS-IS

18. 2025-12-05
    status Pending 510-char remark

    Show marketing remark (510 chars)

    Welcome Home to 220 S. Marion Street! This ranch-style home features an attached 1 car garage and approximately 1,176 square feet! SOLD AS-IS. This property is eligible under the Freddie Mac First Look Initiative though 10/28/25. Seller will not complete any repairs to the subject property, either lender or buyer requested. The property is sold in AS IS condition Taxes prorated at 100 precent. EM MUST BE CERTIFIED FUNDS. Info not guaranteed. Seller does not provide survey. Equal Housing Opportunity. AS-IS

19. 2025-10-15
    listed $1 Auction 510-char remark

    Show marketing remark (510 chars)

    Welcome Home to 220 S. Marion Street! This ranch-style home features an attached 1 car garage and approximately 1,176 square feet! SOLD AS-IS. This property is eligible under the Freddie Mac First Look Initiative though 10/28/25. Seller will not complete any repairs to the subject property, either lender or buyer requested. The property is sold in AS IS condition Taxes prorated at 100 precent. EM MUST BE CERTIFIED FUNDS. Info not guaranteed. Seller does not provide survey. Equal Housing Opportunity. AS-IS

ⓘ 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: $960 · $80/mo
• Projected year-2 tax: $960 · $80/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 4/10 Moderate 7 d/yr ≥106°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,076
• − Mortgage interest: −$2,235
• − Property taxes: −$960
• − Insurance: −$200
• − Repairs & maintenance: −$1,206
• − Management: −$1,206
• − Depreciation: −$1,161
• Taxable income: $8,108
• Est. tax owed @ 24.0%: −$1,946
• After-tax cash flow: $6,293/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: Centralia Hsd 200
• NCES district ID: 1709300
• Math proficiency: 21% ▲ 6.00%
• Reading proficiency: 26% ▲ 1.00%
• Median HH income: $34,555
• Composite: 22.43/100
• National rank: #13470
• State rank: #668 of 919 in IL

Livability — Central City

• Score: 63/100
• State rank: #742
• US rank: #14968

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Central City, IL
• Population (ZIP): 19,941

Population outlook (Marion County) Hauer SSP2

• Today (2025): 36,071 people
• By 2030: 34,598 · -4.1%
• By 2040: 31,754 · -12.0%
• By 2050: 28,912 · -19.8%
• By 2075: 22,527 · -37.5%
• By 2100: 16,455 · -54.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Black 11% Two or more races 4% Hispanic / Latino 4% Asian 1%
• Common ancestry: Serbian 2% Romanian 2% Lithuanian 1%
• Foreign-born: 3% · Canada, China
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Marion

• 2024 margin: Solid R (+49.5) · D 24.6% · R 74.1% · Other 1.4%
• 2008→2024 swing: -47.5pp toward R · 2008: -2.0pp · 2024: -49.5pp
• All cycles: 2024: R+49.5 2020: R+46.6 2016: R+44.9 2012: R+19.2 2008: R+2.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -34.12%
• Current HPI: 211.3835
• 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

4 events — show timeline

• 2026-04-16 Listed $39,900 MARIS as Distributed by MLS Grid
• 2026-03-27 Sold (MLS) — MRED as Distributed by MLS Grid
• 2025-12-05 Pending — MRED as Distributed by MLS Grid
• 2025-10-15 Listed $1 MRED as Distributed by MLS Grid

Property tax history

-0.1%/yr

Latest (2024): $960 · -3.3% YoY. Source: county tax records.