326 Harrison Ave · Charleston, IL 61920

$45,000

2 bd · 1.0 ba · 1,032 sqft · SingleFamily public records · 58 Days on market

Built 1918 0.35 ac lot $44/sqft · 59% below area

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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
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

1,032 sq ft home on a double lot offering a full renovation opportunity. Interior has been completely gutted—ready for a fresh start. Water and electric service are in place from the meter to the home. Ideal for investors or buyers looking to build from the existing structure.

Key facts

• Double lot
• 0.35 acre lot
• 2 garage spots

Tags

• DOUBLE LOT
• FULL RENOVATION OPPORTUNITY
• INTERIOR COMPLETELY GUTTED
• WATER AND ELECTRIC SERVICE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $341 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($811 rent vs $45k).
• Recommended offer: $44k (3.0% below list) — sets the bar for market timing.
• Cap rate 15.4% vs local median 4.0% in Charleston — 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 73/100 on livability (#293 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, amenities C-, schools F.
• Charleston CUSD 1 (town): math 14% / reading 21% proficiency, ranked #489 of 620 in IL (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 125 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 34 units permitted in Coles County in 2024 (30 in 5+ unit buildings).

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.
• Coles County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($44k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1918 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $43,650 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1918 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.80% ✓
• Cap rate: 15.38%
• Cash-on-cash: 32.44%
• DSCR: 2.44
• GRM: 4.6

CMA / ARV

• ARV (median comp): $109,374
• List price: $45,000
• Delta: -58.86%
• 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
422 F St	0.32mi	2/1.0	1,040 (+1%)	0mo	$58,500	$56	84
123 W Jackson Ave	0.19mi	3/1.0 (+1)	1,041 (+1%)	5mo	$82,500	$79	80
8 W Harrison Ave	0.19mi	2/1.0	1,111 (+8%)	3mo	$63,500	$57	75
715 C St	0.11mi	2/1.0	936 (-9%)	8mo	$128,000	$137	73
927 Division St	0.30mi	2/1.0	999 (-3%)	14mo	$51,000	$51	69
606 Greenbriar Ct	0.26mi	3/1.0 (+1)	1,092 (+6%)	5mo	$135,000	$124	69
929 Reynolds Dr	0.41mi	3/1.0 (+1)	984 (-5%)	3mo	$160,000	$163	65
317 A St	0.36mi	2/1.0	970 (-6%)	10mo	$82,500	$85	65
120 4th St	0.56mi	2/1.0	1,008 (-2%)	13mo	$24,000	$24	59
636 A St	0.17mi	3/1.0 (+1)	1,176 (+14%)	8mo	$127,000	$108	57
934 2nd St	0.39mi	2/1.0	1,165 (+13%)	6mo	$105,000	$90	55
306 Polk Ave	0.51mi	2/1.0	936 (-9%)	9mo	$80,000	$85	53

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: 27.5%
• Equity multiple: 2.14×
• Total profit: $14,409
• Equity at exit: $6,710

10-year hold

• IRR: 35.0%
• Equity multiple: 4.21×
• Total profit: $40,506
• 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 61920

• Home prices YoY: -28.1%
• Active inventory: 125
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $811 medium
• Mortgage (P&I): −$236
• Tax from tax record: −$45 /mo · $545/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$170
• Net cashflow: $341

Break-even live

Break-even rent $380

Max offer price $45,000

Occupancy floor 53%

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: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1408 6th St Charleston, IL	2.0	1.0	1346	$729	$0.54	44d	3	0.73mi
2204 9th St Charleston, IL	2.0	1.0	800	$1,145	$1.43	44d	1	1.39mi

Listing history 17 events

1. 2026-06-19
   days on market $45,000 Active 58 DOM
2. 2026-06-18
   days on market $45,000 Active 57 DOM
3. 2026-06-17
   days on market $45,000 Active 56 DOM
4. 2026-06-16
   days on market $45,000 Active 55 DOM
5. 2026-06-15
   days on market $45,000 Active 54 DOM
6. 2026-06-14
   days on market $45,000 Active 52 DOM
7. 2026-06-12
   days on market $45,000 Active 51 DOM
8. 2026-06-09
   days on market $45,000 Active 48 DOM
9. 2026-06-08
   days on market $45,000 Active 47 DOM
10. 2026-06-07
    days on market $45,000 Active 46 DOM
11. 2026-06-05
    days on market $45,000 Active 43 DOM
12. 2026-06-03
    days on market $45,000 Active 42 DOM
13. 2026-06-02
    days on market $45,000 Active 41 DOM
14. 2026-06-01
    days on market $45,000 Active 40 DOM
15. 2026-05-31
    days on market $45,000 Active 39 DOM
16. 2026-05-30
    days on market $45,000 Active 38 DOM
17. 2026-04-22
    listed $45,000 Active 283-char remark

    Show marketing remark (283 chars)

    1,032 sq ft home on a double lot offering a full renovation opportunity. Interior has been completely gutted—ready for a fresh start. Water and electric service are in place from the meter to the home. Ideal for investors or buyers looking to build from the existing structure.

ⓘ 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: $545 · $45/mo
• Projected year-2 tax: $783 · $65/mo
• Expected delta: +$238/yr (+$20/mo · 43.7%)

ⓘ 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 4/10 Moderate 7 d/yr ≥105°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,733
• − Mortgage interest: −$2,521
• − Property taxes: −$545
• − Insurance: −$225
• − Repairs & maintenance: −$779
• − Management: −$779
• − Depreciation: −$1,309
• Taxable income: $3,576
• Est. tax owed @ 24.0%: −$858
• After-tax cash flow: $3,229/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: Charleston CUSD 1
• NCES district ID: 1709600
• Math proficiency: 14% ▼ -6.00%
• Reading proficiency: 21% ▼ -8.00%
• Median HH income: $35,724
• Composite: 14.45/100
• National rank: #9429
• State rank: #489 of 620 in IL

Livability — Charleston

• Score: 73/100
• State rank: #293
• US rank: #5627

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Charleston, IL
• County: Coles County · 41,301 people
• City population: 20,951
• Metro: Charleston-Mattoon, IL
• Population (ZIP): 20,951
• Household income: $52,429
• Rent vs Own: 46.7% rent · 53.3% own
• Severe rent burden: 1209.0

Population outlook (Coles County) Hauer SSP2

• Today (2025): 53,967 people
• By 2030: 53,829 · -0.3%
• By 2040: 52,332 · -3.0%
• By 2050: 49,989 · -7.4%
• By 2075: 42,226 · -21.8%
• By 2100: 34,675 · -35.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Black 6% Hispanic / Latino 4% Two or more races 3% Asian 2%
• Common ancestry: Italian 2% Romanian 2% Iranian 2%
• Foreign-born: 4% · Canada, Jamaica
• Languages at home: 95% English-only · Spanish 1% Other Indo-European 1%

Political lean MEDSL · Coles

• 2024 margin: Strong R (+28.5) · D 34.9% · R 63.4% · Other 1.7%
• 2008→2024 swing: -31.7pp toward R · 2008: 3.2pp · 2024: -28.5pp
• All cycles: 2024: R+28.5 2020: R+26.4 2016: R+26.4 2012: R+11.1 2008: D+3.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -59.97%
• Current HPI: 153.8607
• Rent YoY: —
• Metro: Charleston-Mattoon, 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

1 event — show timeline

• 2026-04-22 Listed $45,000 CIBR

Property tax history

-5.3%/yr

Latest (2024): $545 · +1.5% YoY. Source: county tax records.