144 Water Tower Rd · Carbondale, IL 62958

$99,000

1 bd · 1.0 ba · 1,272 sqft · SingleFamily public records · 121 Days on market

Built 1958 10,500 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 +14.3/30.0
• ARV discount +7.5/15.0
• Appreciation +7.1/10.0
• 1% rule +4.8/10.0
• DSCR +4.4/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Listing remarks

This charming 3-bed, 1-bath home in Makanda is ready to become your own! Nestled on Water Tower Drive, it features a nice front yard and partially fenced backyard. The full bath sits tucked in the hallway off the living room, easily accessible from all bedrooms. The kitchen leads to a laundry room that could also function as a mudroom.

Key facts

• Laundry room
• Front yard
• Mudroom

Tags

• FRONT YARD
• PARTIALLY FENCED BACKYARD
• LAUNDRY ROOM
• MUDROOM

Property features AI

Finance

• HOA & community: No master association fee required

Exterior

• Parking: 2 total parking spaces
• Utilities: Septic tank; Cable available
• Home design: Detached single-family home; One-story; Fee simple ownership; Built approximately 61–70 years ago; Property faces unspecified direction
• Construction: Vinyl siding and frame construction with block elements; Block foundation; Built before 1978
• Exterior features: Deck

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Master bedroom on the main level (13 x 12); Bedroom on the main level (11 x 12); Bedroom on the main level (11 x 7)
• Flooring: Laminate flooring in kitchen; Laminate flooring in living room
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas forced air heating; Central air conditioning
• Interior features: 5 total rooms
• Laundry & utility: Washer; Main level laundry (10 x 5)

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $18 ($220/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $97k (2.1% below list).
• Recommended offer: $87k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.5% vs local median 4.8% 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-, crime F, employment 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.
• Zoned schools: Unity Point Elem School (math 16% / reading 38%, grade F, #749 of 2,056 statewide, top 40%, 637 students, 0% FRL); Carbondale Comm H S (math 26% / reading 35%, grade F, #175 of 693 statewide, top 26%, 997 students, 0% FRL).
• Market conditions: 33 active listings in the ZIP; 5 units permitted in Jackson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($684 loan paydown + $4k appreciation (4.3% local appreciation)).
• At projected returns (4.3% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 121 days — a 12% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 24y ago; this cycle's ask has dropped $16k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $55k; list at $99k implies a 80% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $87,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 121 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 1958 — 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. 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?
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: 0.98% ✗
• Cap rate: 6.51%
• Cash-on-cash: 0.79%
• DSCR: 1.04
• GRM: 8.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.27% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 11.7%
• Equity multiple: 1.72×
• Total profit: $19,964
• Equity at exit: $51,770

10-year hold

• IRR: 13.2%
• Equity multiple: 3.22×
• Total profit: $61,562
• Equity at exit: $85,955

Cash invested: $27,720 (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 62958

• Home prices YoY: 3.4%
• Active inventory: 33
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $969 medium
• Mortgage (P&I): −$519
• Tax from tax record: −$187 /mo · $2,246/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$204
• Net cashflow: $18

Break-even live

Break-even rent $946

Max offer price $99,000

Occupancy floor 93%

Sensitivity live

Price	-10% $74	-5% $46	+0% $18	+5% $-10	+10% $-38
Rent	-10% $-58	-5% $-20	+0% $18	+5% $57	+10% $95
Rate	-1.0pp $68	-0.5pp $43	base $18	+0.5pp $-7	+1.0pp $-33

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-19
   days on market $99,000 Active 121 DOM
2. 2026-06-18
   days on market $99,000 Active 120 DOM
3. 2026-06-17
   days on market $99,000 Active 119 DOM
4. 2026-06-16
   days on market $99,000 Active 118 DOM
5. 2026-06-15
   days on market $99,000 Active 117 DOM
6. 2026-06-14
   days on market $99,000 Active 115 DOM
7. 2026-06-13
   days on market $99,000 Active 114 DOM
8. 2026-06-10
   days on market $99,000 Active 112 DOM
9. 2026-06-09
   days on market $99,000 Active 111 DOM
10. 2026-06-08
    days on market $99,000 Active 110 DOM
11. 2026-06-07
    days on market $99,000 Active 109 DOM
12. 2026-06-02
    days on market $99,000 Active 104 DOM
13. 2026-06-01
    days on market $99,000 Active 103 DOM
14. 2026-05-31
    days on market $99,000 Active 102 DOM
15. 2026-05-30
    days on market $99,000 Active 101 DOM
16. 2026-05-04
    price $99,000
17. 2026-02-17
    listed $114,900 Active
18. 2021-08-06
    historical
19. 2021-08-06
    historical
20. 2021-08-06
    historical
21. 2021-08-06
    historical
22. 2011-01-13
    historical
23. 2008-10-15
    historical
24. 2008-05-11
    historical
25. 2006-09-08
    soldstatus $54,900
26. 2006-08-02
    historical
27. 2003-04-10
    soldstatus $51,500
28. 2002-12-02
    listed $53,900

ⓘ 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: $2,246 · $187/mo
• Projected year-2 tax: $2,246 · $187/mo
• Expected delta: +$1/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 4/10 Moderate 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: $11,633
• − Mortgage interest: −$5,546
• − Property taxes: −$2,246
• − Insurance: −$495
• − Repairs & maintenance: −$931
• − Management: −$931
• − Depreciation: −$2,880
• Taxable loss: −$1,394
• Est. tax savings @ 24.0%: +$335
• After-tax cash flow: $554/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

• City population: 22,946
• Population (ZIP): 2,069

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: Predominantly White (91%)
• Race & ethnicity: White 91% Asian 3% Black 3% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Serbian 6% Romanian 3% Scotch-Irish 2%
• Foreign-born: 4% · China
• Languages at home: 96% English-only · Russian/Polish/Slavic 1% Other Indo-European 1% Chinese 1%

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: ▲ 4.27%
• Current HPI: 128.5264
• 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

+83.7% since first listed

13 events — show timeline

• 2026-05-04 Price Changed $99,000 MRED as Distributed by MLS Grid
• 2026-02-17 Listed $114,900 MRED 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
• 2011-01-13 Listing Removed — MRED as Distributed by MLS Grid
• 2008-10-15 Listing Removed — MRED as Distributed by MLS Grid
• 2008-05-11 Listing Removed — MRED as Distributed by MLS Grid
• 2006-09-08 Sold (Public Records) $54,900 Public Records
• 2006-08-02 Listing Removed — MRED as Distributed by MLS Grid
• 2003-04-10 Sold (MLS) $51,500 RMLSA as Distributed by MLS Grid
• 2002-12-02 Listed $53,900 RMLSA as Distributed by MLS Grid

Property tax history

+3.2%/yr

Latest (2024): $2,246 · +7.1% YoY. Source: county tax records.