505 S Rawlings St · Carbondale, IL 62901

$45,000

3 bd · 1.5 ba · 2,123 sqft · SingleFamily public records · 152 Days on market

Built 1923 0.33 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
• Rent growth +3.6/5.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

505.5 is a 3 bedroom, 1.5 bath home with brick exterior. Updated windows and kitchen. Large bedrooms, would make a great student rental. Large lot. 505 Rawlings has now been torn down.

Key facts

• Brick exterior
• Updated windows
• Large lot

Tags

• BRICK EXTERIOR
• UPDATED WINDOWS
• UPDATED KITCHEN
• LARGE LOT

Property features AI

Finance

• Financial info: No special service area

Exterior

• Parking: Gravel parking; no garage
• Utilities: Public water; Public sewer; Electric service with circuit breakers
• Home design: Detached single-family home; Two stories; Fee simple ownership; Age: 100+ years; Built before 1978
• Construction: Frame construction; Block foundation
• Exterior features: Level lot; Lot dimensions approximately 180 x 81

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Three bedrooms (master and two additional bedrooms on second floor)
• Flooring: Carpet in dining room and living room; Hardwood in bedrooms; Vinyl in kitchen
• Bathrooms: One full bath; One half bath
• Heating & cooling: Forced air heating (natural gas); Wall cooling unit(s)
• Interior features: Separate dining room; Cellar with egress window
• Laundry & utility: Cellar space available

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $437 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $40k (12.0% below list) — sets the bar for market timing.
• Cap rate 17.9% vs local median 4.9% in Carbondale — 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 70/100 on livability (#375 in IL) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, cost of living A+; Watch: housing C-, schools D+, crime F.
• Carbondale Chsd 165 (urban): math 26% / reading 35% proficiency, ranked #279 of 620 in IL (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.5%/yr); 202 active listings in the ZIP; lower-income renter base — watch delinquency; 5 units permitted in Jackson County in 2024 (0 in 5+ unit buildings).
• This rent runs 37% of the median local income ($35k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $311 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.5% rent growth), your $13k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 152 days — a 12% lower offer ($40k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 4.1% of price; built in 1923 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $39,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 152 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 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. Crime grade is F 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?
8. 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.
9. 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.
10. 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: 2.38% ✓
• Cap rate: 17.95%
• Cash-on-cash: 41.63%
• DSCR: 2.85
• GRM: 3.5

CMA / ARV

• ARV (on-the-fly): $167,717
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
703 W High St	0.37mi	2/1.0 (-1)	1,980 (-7%)	4mo	$30,000	$15	62
714 W Elm St	0.16mi	3/2.0	1,880 (-11%)	15mo	$192,500	$102	58
903 W Freeman St	0.25mi	4/1.5 (+1)	1,935 (-9%)	14mo	$55,000	$28	57
903 W Freeman St	0.25mi	4/1.5 (+1)	1,935 (-9%)	14mo	$55,000	$28	57
804 S Valley Rd	0.59mi	4/2.0 (+1)	2,028 (-4%)	3mo	$160,000	$79	55
1301 W Court St	0.70mi	3/1.5	1,966 (-7%)	1mo	$175,000	$89	54
207 N Springer St	0.40mi	4/2.0 (+1)	2,028 (-4%)	16mo	$186,500	$92	54
601 S James St	0.23mi	3/3.0	2,328 (+10%)	17mo	$172,500	$74	53
904 S Oakland Ave	0.45mi	4/2.0 (+1)	2,300 (+8%)	8mo	$186,600	$81	51
904 S Oakland Ave	0.45mi	4/2.0 (+1)	2,300 (+8%)	8mo	$186,600	$81	51
1109 W Hill Ave	0.53mi	3/3.0	2,402 (+13%)	2mo	$178,000	$74	46
1005 W Walnut St	0.43mi	4/2.0 (+1)	2,350 (+11%)	21mo	$159,000	$68	37

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 · 4.51% rent growth · sell at horizon

5-year hold

• IRR: 40.2%
• Equity multiple: 2.77×
• Total profit: $22,278
• Equity at exit: $6,710

10-year hold

• IRR: 47.4%
• Equity multiple: 5.96×
• Total profit: $62,557
• Equity at exit: $3,891

Cash invested: $12,600 (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 62901

• Rents YoY: 4.5%
• Active inventory: 202
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,072 medium
• Mortgage (P&I): −$236
• Tax from tax record: −$155 /mo · $1,863/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $437

Break-even live

Break-even rent $519

Max offer price $45,000

Occupancy floor 54%

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-05-22
   status Active
2. 2026-05-20
   historical
3. 2026-01-08
   status Active
4. 2026-01-05
   historical
5. 2025-09-30
   status Active
6. 2025-09-30
   historical
7. 2025-06-27
   historical Under Contract
8. 2024-04-23
   price
9. 2023-03-13
   price
10. 2022-07-20
    listed Active

ⓘ 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: $1,863 · $155/mo
• Projected year-2 tax: $1,863 · $155/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 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥107°F today · 22 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: $12,868
• − Mortgage interest: −$2,521
• − Property taxes: −$1,863
• − Insurance: −$225
• − Repairs & maintenance: −$1,029
• − Management: −$1,029
• − Depreciation: −$1,309
• Taxable income: $4,891
• Est. tax owed @ 24.0%: −$1,174
• After-tax cash flow: $4,071/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: Carbondale Chsd 165
• NCES district ID: 1708370
• Math proficiency: 26% ▼ -10.00%
• Reading proficiency: 35% ▼ -2.00%
• Median HH income: $22,075
• Composite: 23.92/100
• National rank: #7787
• State rank: #279 of 620 in IL

Livability — Carbondale

• Score: 70/100
• State rank: #375
• US rank: #7806

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Carbondale, IL
• County: Jackson County · 22,946 people
• City population: 22,946
• Metro: Carbondale-Marion, IL
• Population (ZIP): 22,946
• Household income: $35,089
• Rent vs Own: 70.0% rent · 30.0% own
• Severe rent burden: 2038.0

Population outlook (Jackson County) Hauer SSP2

• Today (2025): 59,093 people
• By 2030: 59,628 · +0.9%
• By 2040: 59,495 · +0.7%
• By 2050: 58,811 · -0.5%
• By 2075: 57,683 · -2.4%
• By 2100: 55,337 · -6.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 59% Black 26% Asian 6% Hispanic / Latino 5% Two or more races 5%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 2% Italian 2% Slovak 2%
• Foreign-born: 9% · Canada, China, South Korea
• Languages at home: 87% English-only · Other Indo-European 4% Spanish 4% Arabic 2%

Political lean MEDSL · Jackson

• 2024 margin: Toss-up / Even · D 51.0% · R 47.5% · Other 1.4%
• 2008→2024 swing: -18.3pp toward R · 2008: 21.8pp · 2024: 3.5pp
• All cycles: 2024: D+3.5 2020: D+1.3 2016: D+3.0 2012: D+10.3 2008: D+21.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -75.62%
• Current HPI: 88.7209
• Rent YoY: ▲ 4.51%
• Metro: Carbondale-Marion, IL
• 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

Property tax history

-1.4%/yr

Latest (2024): $1,863 · -43.8% YoY. Source: county tax records.