604 W Walnut St · Carbondale, IL 62901

$80,000

3 bd · 2.0 ba · 1,607 sqft · SingleFamily · 182 Days on market

Built 1923 Est $117k · 32% 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 +29.4/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.2/10.0
• 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

This 3-bedroom, 2-bath home at 604 Walnut offers plenty of space and a great location close to SIU. The layout includes a large living room with a fireplace, a newly remodeled kitchen with granite countertops and stainless steel appliances, and a private master suite upstairs. Whether you're looking for a personal home or an investment property, this one is worth a look. Walking distance to campus, parks, and town. Schedule a tour and make an offer today!

Key facts

• Private master suite
• Large living room
• Granite countertops

Tags

• LARGE LIVING ROOM
• NEWLY REMODELED KITCHEN
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• PRIVATE MASTER SUITE
• WALKING DISTANCE TO CAMPUS

Property features AI

Finance

• HOA & community: No master association fee required

Exterior

• Parking: Other parking
• Utilities: Public water; Public sewer; Electric service with circuit breakers
• Home design: Detached single-family home; 1.5-story design; Fee simple ownership; Property is over 100 years old; Level lot
• Construction: Frame construction with aluminum siding; Block foundation; Built before 1978
• Exterior features: Other exterior features

Interior

• Kitchen: Kitchen with eating area / table space; Includes microwave, range, refrigerator
• Bedrooms: Master bedroom on the second level with full attached bath; Two additional main-level bedrooms; Possible fourth bedroom (listed as Bedroom 4)
• Flooring: Carpet in master bedroom and sitting room; Luxury vinyl flooring in main-level bedrooms, dining room, and kitchen
• Bathrooms: Two full bathrooms; Master bathroom with whirlpool tub; Basement contains bathroom facilities
• Heating & cooling: Forced air heating with natural gas; Window air conditioning units
• Interior features: Six total rooms; Basement is partial with crawl space; Wood-burning fireplace in the living room
• Laundry & utility: Dedicated laundry room; Sump pump

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $283 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.5% 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 36% 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 $553 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.5% rent growth), your $22k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 182 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 27y ago; this cycle's ask has dropped $5k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1923 — 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 $70,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 182 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. 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 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?
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: 1.32% ✓
• Cap rate: 10.55%
• Cash-on-cash: 15.19%
• DSCR: 1.68
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $117,311
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
711 W Elm St	0.10mi	3/1.5	1,624 (+1%)	0mo	$160,000	$99	91
505 N Almond St	0.43mi	3/2.0	1,551 (-4%)	0mo	$155,000	$100	74
203 Orchard Dr	0.41mi	3/3.0	1,603 (-0%)	3mo	$115,000	$72	74
1212 W Schwartz St	0.36mi	3/1.0	1,720 (+7%)	4mo	$85,000	$49	65
1206 W Chautauqua St	0.71mi	3/2.0	1,633 (+2%)	1mo	$120,000	$73	63
901 S Johnson Ave	0.66mi	3/2.0	1,600 (-0%)	8mo	$185,000	$116	62
901 S Johnson Ave	0.66mi	3/2.0	1,600 (-0%)	8mo	$185,000	$116	62
813 W Walnut St	0.17mi	3/1.0	1,365 (-15%)	6mo	$55,000	$40	58
813 W Walnut St	0.17mi	3/1.0	1,365 (-15%)	6mo	$55,000	$40	58
1406 W Taylor Dr	0.63mi	3/1.0	1,680 (+4%)	4mo	$147,000	$88	56
702 S Dixon Ave	0.58mi	3/2.0	1,776 (+10%)	4mo	$129,000	$73	52
1114 W Walkup St	0.53mi	2/1.0 (-1)	1,440 (-10%)	7mo	$40,000	$28	43

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: 7.6%
• Equity multiple: 1.30×
• Total profit: $6,741
• Equity at exit: $11,928

10-year hold

• IRR: 18.1%
• Equity multiple: 2.61×
• Total profit: $36,094
• Equity at exit: $6,917

Cash invested: $22,400 (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: 6.3×

Monthly cashflow live

• Estimated rent: $1,059 medium
• Mortgage (P&I): −$420
• Tax est. 1.5%: −$100 /mo · $1,200/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$222
• Net cashflow: $283

Break-even live

Break-even rent $700

Max offer price $80,000

Occupancy floor 68%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-19
   days on market $80,000 Active 182 DOM
2. 2026-06-18
   days on market $80,000 Active 181 DOM
3. 2026-06-17
   days on market $80,000 Active 180 DOM
4. 2026-06-16
   days on market $80,000 Active 179 DOM
5. 2026-06-15
   days on market $80,000 Active 178 DOM
6. 2026-06-14
   days on market $80,000 Active 176 DOM
7. 2026-06-13
   days on market $80,000 Active 175 DOM
8. 2026-06-10
   days on market $80,000 Active 173 DOM
9. 2026-06-09
   days on market $80,000 Active 172 DOM
10. 2026-06-08
    days on market $80,000 Active 171 DOM
11. 2026-06-07
    days on market $80,000 Active 170 DOM
12. 2026-06-02
    days on market $80,000 Active 165 DOM
13. 2026-06-01
    days on market $80,000 Active 164 DOM
14. 2026-05-31
    days on market $80,000 Active 163 DOM
15. 2026-05-30
    days on market $80,000 Active 162 DOM
16. 2026-05-23
    price $95,000
17. 2026-02-27
    price $80,000
18. 2026-01-08
    status Active
19. 2026-01-05
    historical
20. 2025-12-18
    historical
21. 2025-11-13
    price
22. 2025-09-23
    status Active
23. 2025-09-23
    historical
24. 2025-09-11
    historical Under Contract
25. 2025-09-03
    price
26. 2025-08-18
    status Active
27. 2025-08-13
    historical Under Contract
28. 2025-06-27
    listed Active
29. 2021-08-06
    historical
30. 2021-08-06
    historical
31. 2021-08-06
    historical
32. 2021-08-06
    historical
33. 2021-08-06
    historical
34. 2021-08-06
    historical
35. 2021-08-06
    historical
36. 2021-08-06
    historical
37. 2021-08-06
    historical
38. 2021-08-06
    historical
39. 2021-08-06
    historical
40. 2021-08-06
    historical
41. 2021-08-06
    historical
42. 2021-08-06
    historical
43. 2013-03-29
    historical
44. 2007-06-22
    historical
45. 2007-04-12
    historical
46. 2006-03-03
    soldstatus $82,500
47. 2006-02-09
    listed $85,000
48. 2006-02-06
    soldstatus $82,500
49. 2003-07-31
    historical
50. 2003-07-31
    historical

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $12,704
• − Mortgage interest: −$4,481
• − Property taxes: −$1,200
• − Insurance: −$400
• − Repairs & maintenance: −$1,016
• − Management: −$1,016
• − Depreciation: −$2,327
• Taxable income: $2,263
• Est. tax owed @ 24.0%: −$543
• After-tax cash flow: $2,859/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

Price history

+111.6% since first listed

40 events — show timeline

• 2026-05-23 Price Changed $95,000 MRED as Distributed by MLS Grid
• 2026-02-27 Price Changed $80,000 MRED as Distributed by MLS Grid
• 2026-01-08 Relisted — MRED as Distributed by MLS Grid
• 2026-01-05 Listing Removed — MRED as Distributed by MLS Grid
• 2025-12-18 Listing Removed — MRED as Distributed by MLS Grid
• 2025-11-13 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-09-23 Relisted — RMLSA as Distributed by MLS Grid
• 2025-09-23 Listing Removed — RMLSA as Distributed by MLS Grid
• 2025-09-11 Contingent — RMLSA as Distributed by MLS Grid
• 2025-09-03 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-08-18 Relisted — RMLSA as Distributed by MLS Grid
• 2025-08-13 Contingent — RMLSA as Distributed by MLS Grid
• 2025-06-27 Listed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2021-08-06 Listing Removed — RMLSA as Distributed by MLS Grid
• 2013-03-29 Listing Removed — MRED as Distributed by MLS Grid
• 2007-06-22 Listing Removed — MRED as Distributed by MLS Grid
• 2007-04-12 Listing Removed — MRED as Distributed by MLS Grid
• 2006-03-03 Sold (MLS) $82,500 RMLSA as Distributed by MLS Grid
• 2006-02-09 Listed $85,000 RMLSA as Distributed by MLS Grid
• 2006-02-06 Sold (Public Records) $82,500 Public Records
• 2003-07-31 Listing Removed — RMLSA as Distributed by MLS Grid
• 2003-07-31 Listing Removed — MRED as Distributed by MLS Grid
• 2003-06-19 Listing Removed — MRED as Distributed by MLS Grid
• 2002-05-23 Listing Removed — MRED as Distributed by MLS Grid
• 2001-10-12 Listing Removed — MRED as Distributed by MLS Grid
• 1999-09-20 Listed $44,900 RMLSA as Distributed by MLS Grid
• 1999-09-20 Listed — MRED as Distributed by MLS Grid

Property tax history

+2.6%/yr

Latest (2024): $4,753 · +6.4% YoY. Source: county tax records.