101 5th St · Carmi, IL 62821

$40,000

4 bd · 2.0 ba · 2,225 sqft · Other · 63 Days on market

Built 1932 0.32 ac lot $18/sqft · 80% below area ↓ 10% since listing

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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
• Appreciation +6.6/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

Investment opportunity! Spacious 2-story home previously used as both a multi-unit and single-family residence. Property features kitchens and bathrooms on each level, with 2-3 bedrooms per floor. Main level offers a large living room with fireplace and dining room and a large unfinished basement Outside, you'll find a covered front porch and two detached 2-car garages-ideal for storage or workshop space. Bring your vision and unlock the possibilities!

Key facts

• Covered front porch
• 2 story home
• Large living room

Tags

• 2 STORY HOME
• LARGE LIVING ROOM
• COVERED FRONT PORCH
• DETACHED GARAGES

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $40k.

Deal economics

• At list price, monthly cash flow is $785 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Recommended offer: $38k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#801 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, schools D+, employment D.
• Carmi-White County CUSD 5 (town): math 24% / reading 35% proficiency, ranked #264 of 620 in IL (top 43%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 18 active listings in the ZIP.

Forward outlook

• In year one you build about $2k of equity ($277 loan paydown + $1k appreciation (3.3% local appreciation)).
• White County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.3% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($38k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1932 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $37,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1932 — 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. 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.
7. 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.
8. 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: 3.36% ✓
• Cap rate: 29.85%
• Cash-on-cash: 84.13%
• DSCR: 4.74
• GRM: 2.5

CMA / ARV

• ARV (median comp): $198,196
• List price: $40,000
• Delta: -79.82%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

3.29% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 88.7%
• Equity multiple: 5.95×
• Total profit: $55,467
• Equity at exit: $18,642

10-year hold

• IRR: 88.1%
• Equity multiple: 12.31×
• Total profit: $126,648
• Equity at exit: $29,251

Cash invested: $11,200 (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 62821

• Home prices YoY: 1.8%
• Active inventory: 18
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $1,344 medium
• Mortgage (P&I): −$210
• Tax est. 1.5%: −$50 /mo · $600/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $785

Break-even live

Break-even rent $350

Max offer price $40,000

Occupancy floor 37%

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-07
   statusdays on market $40,000 Pending 63 DOM
2. 2026-06-07
   days on market $40,000 Active 62 DOM
3. 2026-06-04
   days on market $40,000 Active 59 DOM
4. 2026-06-02
   days on market $40,000 Active 58 DOM
5. 2026-06-01
   days on market $40,000 Active 57 DOM
6. 2026-05-31
   days on market $40,000 Active 56 DOM
7. 2026-05-31
   days on market $40,000 Active 55 DOM
8. 2026-05-07
   price $45,000 457-char remark

   Show marketing remark (457 chars)

   Investment opportunity! Spacious 2-story home previously used as both a multi-unit and single-family residence. Property features kitchens and bathrooms on each level, with 2-3 bedrooms per floor. Main level offers a large living room with fireplace and dining room and a large unfinished basement Outside, you'll find a covered front porch and two detached 2-car garages-ideal for storage or workshop space. Bring your vision and unlock the possibilities!

9. 2026-04-04
   listed $50,000 Active 457-char remark

   Show marketing remark (457 chars)

   Investment opportunity! Spacious 2-story home previously used as both a multi-unit and single-family residence. Property features kitchens and bathrooms on each level, with 2-3 bedrooms per floor. Main level offers a large living room with fireplace and dining room and a large unfinished basement Outside, you'll find a covered front porch and two detached 2-car garages-ideal for storage or workshop space. Bring your vision and unlock the possibilities!

ⓘ 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 ≥108°F today · 19 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,126
• − Mortgage interest: −$2,241
• − Property taxes: −$600
• − Insurance: −$200
• − Repairs & maintenance: −$1,290
• − Management: −$1,290
• − Depreciation: −$1,164
• Taxable income: $9,342
• Est. tax owed @ 24.0%: −$2,242
• After-tax cash flow: $7,181/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: Carmi-White County CUSD 5
• NCES district ID: 1708500
• Math proficiency: 24% ▼ -7.00%
• Reading proficiency: 35% ▼ -10.00%
• Median HH income: $42,328
• Composite: 25.02/100
• National rank: #7555
• State rank: #264 of 620 in IL

Livability — Carmi

• Score: 63/100
• State rank: #801
• US rank: #15885

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Carmi, IL
• Population (ZIP): 6,896

Population outlook (White County) Hauer SSP2

• Today (2025): 13,756 people
• By 2030: 13,316 · -3.2%
• By 2040: 12,487 · -9.2%
• By 2050: 11,731 · -14.7%
• By 2075: 9,948 · -27.7%
• By 2100: 7,494 · -45.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Slovak 2% Romanian 1% Italian 1%
• Foreign-born: 0%
• Languages at home: 98% English-only · German/W. Germanic 1% Spanish 1%

Political lean MEDSL · White

• 2024 margin: Solid R (+59.4) · D 19.7% · R 79.1% · Other 1.2%
• 2008→2024 swing: -50.4pp toward R · 2008: -9.0pp · 2024: -59.4pp
• All cycles: 2024: R+59.4 2020: R+57.5 2016: R+58.0 2012: R+36.0 2008: R+9.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.29%
• Current HPI: 183.02
• 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

-10.0% since first listed

2 events — show timeline

• 2026-05-07 Price Changed $45,000 MRED as Distributed by MLS Grid
• 2026-04-04 Listed $50,000 MRED as Distributed by MLS Grid

Property tax history

+4.2%/yr

Latest (2024): $2,214 · +7.9% YoY. Source: county tax records.