334 Park Ln · Herrin, IL 62948

$147,500

3 bd · 2.0 ba · 1,710 sqft · SingleFamily · 10 Days on market

Built 1954 Est $202k · 27% under

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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 +21.4/30.0
• ARV discount +15.0/15.0
• DSCR +6.8/10.0
• 1% rule +5.4/10.0
• 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

# Welcome Home to 334 Park Ln, Herrin, IL 62948 Nestled on a desirable corner lot in the heart of Herrin, this charming 3-bedroom, 2-bathroom home is freshly listed and ready to impress. Whether you're a first-time buyer searching for the perfect starter home or looking to plant deeper roots in Southern Illinois, this property delivers comfort, functionality, and undeniable curb appeal. Step inside and immediately notice the brand-new flooring that flows seamlessly throughout the home, giving every room a fresh, modern feel. The open living spaces are bathed in natural light, creating a warm and inviting atmosphere perfect for everyday living and entertaining alike. The well-appointed kitc

Key facts

• Open living spaces
• Full basement
• Brand new flooring

Tags

• CORNER LOT
• BRAND NEW FLOORING
• OPEN LIVING SPACES
• WELL APPOINTED KITCHEN
• FULL BASEMENT
• ATTACHED GARAGES

Property features AI

Exterior

• Parking: Attached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single family residence; Built in 1954
• Construction: Shingle roof
• Exterior features: Corner lot; Lot dimensions approximately 92 x 80 x 101

Interior

• Kitchen: Kitchen with refrigerator and dishwasher
• Bedrooms: Three bedrooms (two on main level; one in basement); Primary/main bedroom approx. 13 x 9 with egress window; Second main bedroom approx. 10 x 8 with egress window; Third main bedroom approx. 14 x 10 with egress window
• Flooring: Luxury vinyl plank flooring in bedrooms and main areas
• Bathrooms: Two full bathrooms
• Heating & cooling: Central air conditioning; Electric heating with heat pump
• Interior features: Partially finished basement; Dishwasher; Refrigerator

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $148k.

Deal economics

• At list price, monthly cash flow is $219 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $148k).

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: crime D-, amenities F, commute 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.
• Zoned schools: Herrin High School (math 22% / reading 32%, grade F, #218 of 693 statewide, top 35%, 686 students, 0% FRL) — zoned schools average 0% FRL vs 56% district-wide (56 pts lower); this property's tenant base skews higher-income than the district average.
• 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 $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1954 — 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 $147,500

Questions for the listing agent

1. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.04% ✓
• Cap rate: 8.08%
• Cash-on-cash: 6.37%
• DSCR: 1.28
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $201,780
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
659 Copper Creek Ln	0.35mi	3/2.0	1,730 (+1%)	3mo	$267,500	$155	79
1104 E Poplar St	0.27mi	3/1.5	1,664 (-3%)	4mo	$199,900	$120	78
805 Hilldale Ave	0.33mi	3/2.0	1,746 (+2%)	8mo	$174,900	$100	74
911 E Stotlar St	0.13mi	3/2.0	1,472 (-14%)	1mo	$215,000	$146	70
1117 E Ash St	0.31mi	3/2.5	1,840 (+8%)	6mo	$65,001	$35	66
1204 Prestwicke Dr	0.50mi	3/2.0	1,853 (+8%)	1mo	$262,500	$142	62
600 Indian Hill Dr	0.18mi	3/1.5	1,476 (-14%)	6mo	$170,500	$116	61
1205 Wildflower Ln	0.31mi	4/2.0 (+1)	1,898 (+11%)	2mo	$304,000	$160	60
621 S 4th St	0.32mi	3/2.0	1,485 (-13%)	5mo	$175,000	$118	59
1216 S 17th St	0.62mi	3/2.0	1,832 (+7%)	2mo	$153,400	$84	58
221 S 10th St	0.47mi	3/1.0	1,546 (-10%)	3mo	$112,000	$72	56
401 E Cross St	0.60mi	3/2.0	1,888 (+10%)	5mo	$202,500	$107	51

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: -6.5%
• Equity multiple: 0.76×
• Total profit: $-9,930
• Equity at exit: $21,993

10-year hold

• IRR: 3.1%
• Equity multiple: 1.23×
• Total profit: $9,366
• Equity at exit: $12,753

Cash invested: $41,300 (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: 8.0×

Monthly cashflow live

• Estimated rent: $1,537 medium
• Mortgage (P&I): −$774
• Tax from tax record: −$160 /mo · $1,916/yr
• Insurance: −$61
• HOA: −$0
• Vacancy / Maint / Mgmt: −$323
• Net cashflow: $219

Break-even live

Break-even rent $1,259

Max offer price $147,500

Occupancy floor 81%

Sensitivity live

Price	-10% $303	-5% $261	+0% $219	+5% $177	+10% $136
Rent	-10% $98	-5% $159	+0% $219	+5% $280	+10% $341
Rate	-1.0pp $294	-0.5pp $257	base $219	+0.5pp $181	+1.0pp $142

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: $36,875
• Closing costs: $4,425
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-19
   days on market $147,500 Under Contract 10 DOM
2. 2026-06-18
   days on market $147,500 Under Contract 9 DOM
3. 2026-06-17
   days on market $147,500 Under Contract 8 DOM
4. 2026-06-16
   days on market $147,500 Under Contract 7 DOM
5. 2026-06-15
   days on market $147,500 Under Contract 6 DOM
6. 2026-06-14
   days on market $147,500 Under Contract 4 DOM
7. 2026-06-13
   statusdays on market $147,500 Under Contract 3 DOM
8. 2026-06-10
   remarks 699-char remark
9. 2026-06-10
   listed $147,500 Active 1 DOM

ⓘ 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: $1,916 · $160/mo
• Projected year-2 tax: $2,632 · $219/mo
• Expected delta: +$716/yr (+$60/mo · 37.4%)

ⓘ 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 2% 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: $18,438
• − Mortgage interest: −$8,262
• − Property taxes: −$1,916
• − Insurance: −$738
• − Repairs & maintenance: −$1,475
• − Management: −$1,475
• − Depreciation: −$4,291
• Taxable income: $282
• Est. tax owed @ 24.0%: −$68
• After-tax cash flow: $2,563/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

1 event — show timeline

• 2026-06-09 Listed $147,500 RMLSA as Distributed by MLS Grid

Property tax history

+5.4%/yr

Latest (2025): $1,916 · +4.9% YoY. Source: county tax records.