1519 W Madison St · Herrin, IL 62948

$26,500

3 bd · 2.0 ba · 1,352 sqft · SingleFamily · 9 Days on market

Built 1920 6,534 sqft lot

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• DSCR +4.6/10.0
• 1% rule +4.1/10.0
• 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

3 bedroom, 2 bath home with a 2 car garage. This property has been placed in an upcoming event. All bids should be submitted at Xome.com void where prohibited. Please submit any pre-auction offer received through the property details page on Xome.com. Any post-auction offers will need to be submitted directly to the listing agent. Response within 3 business days. All properties are subject to a 5% buyer s premium pursuant to the Auction Participation Agreement and Terms & Conditions minimums will apply.

Key facts

• 6,534 sq ft lot
• 2 garage spots
• Built 1920

Property features AI

Finance

• Other: Property currently not leased; Possession at closing
• HOA & community: No master association fee required

Exterior

• Parking: Two parking spaces total; Detached garage (owned); Gravel parking
• Utilities: Public water; Public sewer
• Home design: Detached single-family home; One-story layout; Fee simple ownership; Over 100 years old; Not rebuilt or recently rehabbed; Built before 1978
• Construction: Vinyl siding exterior; Asphalt roof; Block foundation
• Exterior features: Lot dimensions approximately 49 x 131; Lot is less than 0.25 acre; County-recorded lot size

Interior

• Kitchen: Kitchen on the main level (approx. 11 x 12)
• Bedrooms: Three bedrooms (all on the main level); Primary bedroom on the main level with a full bath (approx. 17 x 15); Secondary bedrooms on the main level (approx. 11 x 11 and 11 x 9)
• Bathrooms: Two full bathrooms
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Six total rooms; Crawl space basement; School bus service available
• Laundry & utility: Laundry room

🔨 Auction listing. The $26,500 list price is a nominal opening bid, not a real ask — every metric below is computed on the estimated value $114,920 (ARV from comps), not the list price.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $26k.

Deal economics

• At list price, monthly cash flow is $35 ($425/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $26k).
• Cap rate 6.7% vs local median 8.5% in Herrin — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: schools D, crime D-, amenities 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.
• Market conditions: 91 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 6.5% of price; 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 $26,500

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.91% ✗
• Cap rate: 6.66%
• Cash-on-cash: 1.32%
• DSCR: 1.06
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $114,920
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1801 W Adams St	0.15mi	3/2.0	1,430 (+6%)	3mo	$233,000	$163	80
1317 W Cherry St	0.19mi	3/1.0	1,397 (+3%)	4mo	$46,000	$33	78
1200 W Adams St	0.23mi	3/1.0	1,428 (+6%)	4mo	$123,600	$87	72
1807 W Cherry St	0.24mi	3/2.0	1,276 (-6%)	10mo	$180,000	$141	71
613 N 29th St	0.21mi	2/2.0 (-1)	1,241 (-8%)	12mo	$105,000	$85	62
509 W Madison St	0.57mi	3/2.0	1,456 (+8%)	5mo	$130,000	$89	56
604 S 23rd St	0.69mi	2/1.0 (-1)	1,312 (-3%)	5mo	$50,000	$38	50
113 S 21st St	0.54mi	2/2.0 (-1)	1,251 (-8%)	10mo	$82,000	$66	49
504 S 22nd St	0.69mi	3/1.0	1,300 (-4%)	11mo	$119,000	$92	48
701 W Cherry St	0.48mi	3/2.0	1,150 (-15%)	8mo	$52,500	$46	46
1005 W Stotlar St	0.71mi	2/1.0 (-1)	1,178 (-13%)	4mo	$75,000	$64	33
313 N 18th St	0.67mi	2/1.0 (-1)	1,160 (-14%)	12mo	$80,000	$69	26

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: -14.2%
• Equity multiple: 0.49×
• Total profit: $-16,349
• Equity at exit: $17,135

10-year hold

• IRR: -5.4%
• Equity multiple: 0.65×
• Total profit: $-11,267
• Equity at exit: $9,936

Cash invested: $32,178 (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: 2.1×

Monthly cashflow live

• Estimated rent: $1,050 medium
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,724/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$221
• Net cashflow: $35

Break-even live

Break-even rent $1,005

Max offer price $114,920

Occupancy floor 92%

Sensitivity live

Price	-10% $115	-5% $75	+0% $35	+5% $-4	+10% $-44
Rent	-10% $-48	-5% $-6	+0% $35	+5% $77	+10% $118
Rate	-1.0pp $93	-0.5pp $65	base $35	+0.5pp $6	+1.0pp $-25

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: $28,730
• Closing costs: $3,448
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6 Court C Herrin, IL	2.0	1.0	900	$895	$0.99	44d	1	1.01mi
3 Ct D Herrin, IL	3.0	1.0	1000	$1,195	$1.20	44d	1	1.05mi

Listing history 1 events

1. 2026-05-19
   listed $26,500 Active

ⓘ 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 · 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: $12,602
• − Mortgage interest: −$6,437
• − Property taxes: −$1,724
• − Insurance: −$575
• − Repairs & maintenance: −$1,008
• − Management: −$1,008
• − Depreciation: −$3,343
• Taxable loss: −$1,493
• Est. tax savings @ 24.0%: +$358
• After-tax cash flow: $784/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

• 2026-05-19 Listed $26,500 MRED as Distributed by MLS Grid

Property tax history

+6.4%/yr

Latest (2025): $1,331 · +6.2% YoY. Source: county tax records.