209 S Gardner St · West Frankfort, IL 62896-2517

$57,900

3 bd · 1.0 ba · 1,130 sqft · Other · 129 Days on market

Built 1914 6,969 sqft lot $51/sqft · 24% below area Est $76k · 24% under ↓ 4% 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
• Appreciation +5.0/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0

Listing remarks MLS

Welcome home to this charming and remodeled 3- bedroom, 1- bathroom residence in West Frankfort! This move-in-ready home features fresh updates throughout, including recently replaced baseboards. Perfect for first time home buyers or looking for an investing opportunity, this home checks all the boxes. Conveniently located and ready for its new owner-- Schedule your showing today!

Key facts

• 6,969 sq ft lot
• Parking
• Built 1914

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $58k.

Deal economics

• At list price, monthly cash flow is $252 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($882 rent vs $58k).
• Recommended offer: $51k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.5% vs local median 5.9% 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: 2 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 17 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($400 loan paydown + $2k appreciation (3.0% local appreciation)).
• 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 $16k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 129 days — a 12% lower offer ($51k) 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 1914 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $50,952 (12.0% below list)

Questions for the listing agent

1. It's been on market 129 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1914 — 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: 1.52% ✓
• Cap rate: 11.52%
• Cash-on-cash: 18.66%
• DSCR: 1.83
• GRM: 5.5

CMA / ARV

• ARV (median comp): $76,069
• List price: $57,900
• Delta: -23.88%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 25.1%
• Equity multiple: 2.42×
• Total profit: $23,074
• Equity at exit: $26,034

10-year hold

• IRR: 25.9%
• Equity multiple: 4.68×
• Total profit: $59,702
• Equity at exit: $40,122

Cash invested: $16,212 (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 62896-2517

• Active inventory: 2
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $882 medium
• Mortgage (P&I): −$304
• Tax from tax record: −$117 /mo · $1,403/yr
• Insurance: −$24
• HOA: −$0
• Vacancy / Maint / Mgmt: −$185
• Net cashflow: $252

Break-even live

Break-even rent $563

Max offer price $57,900

Occupancy floor 66%

Sensitivity live

Price	-10% $285	-5% $269	+0% $252	+5% $236	+10% $219
Rent	-10% $182	-5% $217	+0% $252	+5% $287	+10% $322
Rate	-1.0pp $281	-0.5pp $267	base $252	+0.5pp $237	+1.0pp $222

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: $14,475
• Closing costs: $1,737
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5 Razer Dr Unit 1 West Frankfort, IL	2.0	1.5	1100	$900	$0.82	44d	1	0.51mi
403 E Poplar St West Frankfort, IL	3.0	1.0	1200	$900	$0.75	44d	1	0.67mi
411 N Cochran St West Frankfort, IL	2.0	1.0	960	$795	$0.83	44d	1	1.24mi

Listing history 22 events

1. 2026-06-21
   days on market $57,900 Under Contract 129 DOM
2. 2026-06-18
   days on market $57,900 Under Contract 127 DOM
3. 2026-06-17
   days on market $57,900 Under Contract 126 DOM
4. 2026-06-16
   days on market $57,900 Under Contract 125 DOM
5. 2026-06-15
   days on market $57,900 Under Contract 124 DOM
6. 2026-06-13
   days on market $57,900 Under Contract 122 DOM
7. 2026-06-12
   days on market $57,900 Under Contract 121 DOM
8. 2026-06-09
   days on market $57,900 Under Contract 118 DOM
9. 2026-06-08
   days on market $57,900 Under Contract 117 DOM
10. 2026-06-07
    days on market $57,900 Under Contract 116 DOM
11. 2026-06-04
    days on market $57,900 Under Contract 112 DOM
12. 2026-06-02
    days on market $57,900 Under Contract 111 DOM
13. 2026-06-01
    days on market $57,900 Under Contract 110 DOM
14. 2026-05-31
    days on market $57,900 Under Contract 109 DOM
15. 2026-05-31
    days on market $57,900 Under Contract 108 DOM
16. 2026-04-17
    status Active 383-char remark

    Show marketing remark (383 chars)

    Welcome home to this charming and remodeled 3- bedroom, 1- bathroom residence in West Frankfort! This move-in-ready home features fresh updates throughout, including recently replaced baseboards. Perfect for first time home buyers or looking for an investing opportunity, this home checks all the boxes. Conveniently located and ready for its new owner-- Schedule your showing today!

17. 2026-04-12
    historical Under Contract 383-char remark

    Show marketing remark (383 chars)

    Welcome home to this charming and remodeled 3- bedroom, 1- bathroom residence in West Frankfort! This move-in-ready home features fresh updates throughout, including recently replaced baseboards. Perfect for first time home buyers or looking for an investing opportunity, this home checks all the boxes. Conveniently located and ready for its new owner-- Schedule your showing today!

18. 2026-03-10
    price $57,900 383-char remark

    Show marketing remark (383 chars)

    Welcome home to this charming and remodeled 3- bedroom, 1- bathroom residence in West Frankfort! This move-in-ready home features fresh updates throughout, including recently replaced baseboards. Perfect for first time home buyers or looking for an investing opportunity, this home checks all the boxes. Conveniently located and ready for its new owner-- Schedule your showing today!

19. 2026-02-17
    historical
20. 2026-02-02
    listed $60,000 Active 383-char remark

    Show marketing remark (383 chars)

    Welcome home to this charming and remodeled 3- bedroom, 1- bathroom residence in West Frankfort! This move-in-ready home features fresh updates throughout, including recently replaced baseboards. Perfect for first time home buyers or looking for an investing opportunity, this home checks all the boxes. Conveniently located and ready for its new owner-- Schedule your showing today!

21. 2026-02-02
    listed Active

    Show marketing remark (383 chars)

    Welcome home to this charming and remodeled 3- bedroom, 1- bathroom residence in West Frankfort! This move-in-ready home features fresh updates throughout, including recently replaced baseboards. Perfect for first time home buyers or looking for an investing opportunity, this home checks all the boxes. Conveniently located and ready for its new owner-- Schedule your showing today!

22. 2021-08-06
    historical

ⓘ 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: $1,403 · $117/mo
• Projected year-2 tax: $1,403 · $117/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 5/10 Major 7 d/yr ≥107°F today · 21 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,585
• − Mortgage interest: −$3,243
• − Property taxes: −$1,403
• − Insurance: −$290
• − Repairs & maintenance: −$847
• − Management: −$847
• − Depreciation: −$1,684
• Taxable income: $2,271
• Est. tax owed @ 24.0%: −$545
• After-tax cash flow: $2,481/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

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%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

-3.5% since first listed

7 events — show timeline

• 2026-04-17 Relisted — RMLSA as Distributed by MLS Grid
• 2026-04-12 Contingent — RMLSA as Distributed by MLS Grid
• 2026-03-10 Price Changed $57,900 RMLSA as Distributed by MLS Grid
• 2026-02-17 Listing Removed — MRED as Distributed by MLS Grid
• 2026-02-02 Listed — MRED as Distributed by MLS Grid
• 2026-02-02 Listed $60,000 RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid

Property tax history

+14.7%/yr

Latest (2024): $1,403 · +8.0% YoY. Source: county tax records.