1500 W Tyler St · Herrin, IL 62948

$73,500

3 bd · 2.0 ba · 1,248 sqft · SingleFamily · 87 Days on market

Built 1920 3,000 sqft lot $59/sqft · 21% below area Est $93k · 21% under

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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

This 3 bedroom 2 bath home is just needing some TLC. If you are looking for a starter home, look no further! This home has a 1 car garage and a carport. The living room is spacious and the kitchen is quaint. The basement offers extra storage space as well! A few updates has already been done like added insulation, new smart thermostat, and 75% of the plumbing has been replaced! Call to schedule your showing!

Key facts

• 3,000 sq ft lot
• Garage
• Built 1920

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $74k.

Deal economics

• At list price, monthly cash flow is $337 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $74k).
• Recommended offer: $69k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.8% vs local median 8.7% 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: 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 C U S D 4 Elem School (math 21% / reading 25%, grade F, #929 of 2,056 statewide, top 45%, 679 students, 0% FRL); Herrin Middle School (math 24% / reading 28%, grade F, #318 of 665 statewide, top 48%, 507 students, 0% FRL); 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; 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; 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 $508 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 $21k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 87 days — a 6% lower offer ($69k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 18y ago; this cycle's ask has dropped $7k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $69,090 (6.0% below list)

Questions for the listing agent

1. It's been on market 87 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. 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: 1.54% ✓
• Cap rate: 11.79%
• Cash-on-cash: 19.63%
• DSCR: 1.87
• GRM: 5.4

CMA / ARV

• ARV (median comp): $92,783
• List price: $73,500
• Delta: -20.78%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1807 W Cherry St	0.34mi	3/2.0	1,276 (+2%)	10mo	$180,000	$141	72
1801 W Adams St	0.19mi	3/2.0	1,430 (+15%)	3mo	$233,000	$163	64
1317 W Cherry St	0.24mi	3/1.0	1,397 (+12%)	4mo	$46,000	$33	62
113 S 21st St	0.54mi	2/2.0 (-1)	1,251 (+0%)	10mo	$82,000	$66	61
1200 W Adams St	0.19mi	3/1.0	1,428 (+14%)	4mo	$123,600	$87	60
402 Habitat Way	0.70mi	3/2.0	1,275 (+2%)	6mo	$160,000	$125	59
402 Habitat Way	0.70mi	3/2.0	1,275 (+2%)	6mo	$160,000	$125	59
701 W Cherry St	0.47mi	3/2.0	1,150 (-8%)	8mo	$52,500	$46	58
100 N 35th St	0.53mi	3/1.0	1,092 (-12%)	6mo	$158,000	$145	46
604 S 23rd St	0.74mi	2/1.0 (-1)	1,312 (+5%)	5mo	$50,000	$38	44
1405 W Harrison St	0.36mi	2/1.0 (-1)	1,078 (-14%)	11mo	$38,775	$36	42
612 N 17th St	0.72mi	3/1.0	1,338 (+7%)	11mo	$165,500	$124	41

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: 11.7%
• Equity multiple: 1.47×
• Total profit: $9,580
• Equity at exit: $10,959

10-year hold

• IRR: 20.7%
• Equity multiple: 2.76×
• Total profit: $36,145
• Equity at exit: $6,355

Cash invested: $20,580 (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: 5.4×

Monthly cashflow live

• Estimated rent: $1,131 medium
• Mortgage (P&I): −$385
• Tax from tax record: −$141 /mo · $1,692/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$238
• Net cashflow: $337

Break-even live

Break-even rent $705

Max offer price $73,500

Occupancy floor 65%

Sensitivity live

Price	-10% $378	-5% $357	+0% $337	+5% $316	+10% $295
Rent	-10% $247	-5% $292	+0% $337	+5% $381	+10% $426
Rate	-1.0pp $374	-0.5pp $355	base $337	+0.5pp $318	+1.0pp $298

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: $18,375
• Closing costs: $2,205
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
715 N 35th St Unit D Herrin, IL	2.0	1.0	850	$1,200	$1.41	45d	1	0.40mi
6 Court C Herrin, IL	2.0	1.0	900	$895	$0.99	45d	1	1.04mi
3 Ct D Herrin, IL	3.0	1.0	1000	$1,195	$1.20	45d	1	1.08mi

Listing history 36 events

1. 2026-06-21
   days on market $73,500 Active 87 DOM
2. 2026-06-19
   days on market $73,500 Active 85 DOM
3. 2026-06-18
   days on market $73,500 Active 84 DOM
4. 2026-06-17
   days on market $73,500 Active 83 DOM
5. 2026-06-16
   days on market $73,500 Active 82 DOM
6. 2026-06-15
   days on market $73,500 Active 81 DOM
7. 2026-06-14
   days on market $73,500 Active 79 DOM
8. 2026-06-13
   days on market $73,500 Active 78 DOM
9. 2026-06-10
   days on market $73,500 Active 76 DOM
10. 2026-06-09
    days on market $73,500 Active 75 DOM
11. 2026-06-08
    days on market $73,500 Active 74 DOM
12. 2026-06-07
    days on market $73,500 Active 73 DOM
13. 2026-06-03
    days on market $73,500 Active 69 DOM
14. 2026-06-02
    days on market $73,500 Active 68 DOM
15. 2026-06-01
    days on market $73,500 Active 67 DOM
16. 2026-05-31
    days on market $73,500 Active 66 DOM
17. 2026-05-30
    days on market $73,500 Active 65 DOM
18. 2026-03-25
    listed $80,500 Active 411-char remark

    Show marketing remark (411 chars)

    This 3 bedroom 2 bath home is just needing some TLC. If you are looking for a starter home, look no further! This home has a 1 car garage and a carport. The living room is spacious and the kitchen is quaint. The basement offers extra storage space as well! A few updates has already been done like added insulation, new smart thermostat, and 75% of the plumbing has been replaced! Call to schedule your showing!

19. 2026-02-13
    historical
20. 2026-01-31
    historical
21. 2026-01-22
    listed Active
22. 2026-01-08
    status Active
23. 2026-01-06
    historical
24. 2026-01-05
    historical
25. 2026-01-03
    status Active
26. 2026-01-01
    historical
27. 2025-12-17
    historical
28. 2025-09-23
    historical
29. 2025-09-23
    listed Active
30. 2025-03-29
    price
31. 2025-03-17
    listed Active
32. 2008-08-21
    soldstatus $68,000
33. 2008-08-21
    soldstatus $68,000
34. 2008-08-21
    soldstatus $68,000
35. 2008-07-01
    listed $72,500
36. 2008-07-01
    listed $72,500

ⓘ 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: $1,692 · $141/mo
• Projected year-2 tax: $1,692 · $141/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 · 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: $13,576
• − Mortgage interest: −$4,117
• − Property taxes: −$1,692
• − Insurance: −$368
• − Repairs & maintenance: −$1,086
• − Management: −$1,086
• − Depreciation: −$2,138
• Taxable income: $3,089
• Est. tax owed @ 24.0%: −$741
• After-tax cash flow: $3,299/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

+11.0% since first listed

19 events — show timeline

• 2026-03-25 Listed $80,500 RMLSA as Distributed by MLS Grid
• 2026-02-13 Listing Removed — RMLSA as Distributed by MLS Grid
• 2026-01-31 Listing Removed — MRED as Distributed by MLS Grid
• 2026-01-22 Listed — RMLSA as Distributed by MLS Grid
• 2026-01-08 Relisted — MRED as Distributed by MLS Grid
• 2026-01-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2026-01-05 Listing Removed — MRED as Distributed by MLS Grid
• 2026-01-03 Relisted — MRED as Distributed by MLS Grid
• 2026-01-01 Listing Removed — MRED as Distributed by MLS Grid
• 2025-12-17 Listing Removed — MRED as Distributed by MLS Grid
• 2025-09-23 Listing Removed — RMLSA as Distributed by MLS Grid
• 2025-09-23 Listed — RMLSA as Distributed by MLS Grid
• 2025-03-29 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-03-17 Listed — RMLSA as Distributed by MLS Grid
• 2008-08-21 Sold (Public Records) $68,000 Public Records
• 2008-08-21 Sold (MLS) $68,000 MRED as Distributed by MLS Grid
• 2008-08-21 Sold (MLS) $68,000 RMLSA as Distributed by MLS Grid
• 2008-07-01 Listed $72,500 MRED as Distributed by MLS Grid
• 2008-07-01 Listed $72,500 RMLSA as Distributed by MLS Grid

Property tax history

+4.7%/yr

Latest (2025): $1,692 · +3.9% YoY. Source: county tax records.