422 F St · Charleston, IL 61920

$59,900

2 bd · 1.0 ba · 880 sqft · SingleFamily public records · 7 Days on market

Built 1919 7,841 sqft lot $68/sqft · 20% below area Est $88k · 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 +27.2/30.0
• ARV discount +15.0/15.0
• DSCR +9.4/10.0
• 1% rule +6.9/10.0
• 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

Welcome Home to 422 F Street! This ranch home features 2 bedrooms/1 bathroom and approximately 880 square feet. This is a Fannie Mae HomePath Property and is eligible under the First Look Period until 10/21/2023. Sold AS-IS. Equal Housing Opportunity.

Key facts

• 7,841 sq ft lot
• Built 1919
• Listed 7 days

Property features AI

Finance

• Other: Zoned R-1; Located in G M Horenes Subdivision; Directions: South of fairgrounds

Exterior

• Utilities: Public water; Public sewer; Natural gas available
• Home design: Single-family residence; One story
• Construction: Vinyl siding; Composition roof
• Exterior features: Patio; Shed(s); Gravel road access

Interior

• Kitchen: Range; Refrigerator; Dishwasher
• Bedrooms: Total of 6 rooms (includes all living spaces)
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Crawl space basement; Patio
• Laundry & utility: Washer and Dryer included; Laundry located on main level; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $171 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($711 rent vs $60k).
• Cap rate 9.7% 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-, commute 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.
• Zoned schools: Carl Sandburg Elem School (math 27% / reading 22%, grade F, #850 of 2,056 statewide, top 45%, 551 students, 0% FRL); Jefferson Elem School (math 10% / reading 23%, grade F, #482 of 665 statewide, top 73%, 635 students, 0% FRL); Charleston High School (math 20% / reading 24%, grade F, #319 of 693 statewide, top 50%, 766 students, 0% FRL) — zoned schools average 0% FRL vs 37% district-wide (37 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 125 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 34 units permitted in Coles County in 2024 (30 in 5+ unit buildings).
• This rent is only 16% of the median local income ($52k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $414 of loan paydown is wiped out by about $2k 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 $17k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 3y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1919 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $59,900

Questions for the listing agent

1. Built in 1919 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.19% ✓
• Cap rate: 9.71%
• Cash-on-cash: 12.21%
• DSCR: 1.54
• GRM: 7.0

CMA / ARV

• ARV (median comp): $88,030
• List price: $59,900
• Delta: -31.95%
• 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
715 C St	0.33mi	2/1.0	936 (+6%)	8mo	$128,000	$137	68
12 Railroad Ave	0.49mi	3/1.0 (+1)	860 (-2%)	3mo	$63,000	$73	66
9 W Locust Ave	0.51mi	2/1.0	828 (-6%)	6mo	$25,000	$30	61
317 A St	0.37mi	2/1.0	970 (+10%)	10mo	$82,500	$85	57
124 Polk Ave	0.74mi	2/1.0	816 (-7%)	3mo	$38,000	$47	51
921 Reynolds Dr	0.48mi	1/1.0 (-1)	780 (-11%)	6mo	$22,500	$29	48
929 Reynolds Dr	0.53mi	3/1.0 (+1)	984 (+12%)	3mo	$160,000	$163	48
5 Vine Ave	0.56mi	2/1.0	786 (-11%)	11mo	$70,000	$89	47
222 3rd St	0.55mi	3/1.0 (+1)	938 (+7%)	14mo	$13,000	$14	47
927 Division St	0.61mi	2/1.0	999 (+14%)	14mo	$51,000	$51	37
927 Division St	0.61mi	2/1.0	999 (+14%)	14mo	$51,000	$51	37
120 4th St	0.61mi	2/1.0	1,008 (+14%)	13mo	$24,000	$24	36

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: 1.8%
• Equity multiple: 1.07×
• Total profit: $1,158
• Equity at exit: $8,931

10-year hold

• IRR: 11.4%
• Equity multiple: 1.89×
• Total profit: $14,988
• Equity at exit: $5,179

Cash invested: $16,772 (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: 7.0×

Monthly cashflow live

• Estimated rent: $711 medium
• Mortgage (P&I): −$314
• Tax from tax record: −$52 /mo · $625/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$149
• Net cashflow: $171

Break-even live

Break-even rent $495

Max offer price $59,900

Occupancy floor 71%

Sensitivity live

Price	-10% $205	-5% $188	+0% $171	+5% $154	+10% $137
Rent	-10% $114	-5% $143	+0% $171	+5% $199	+10% $227
Rate	-1.0pp $201	-0.5pp $186	base $171	+0.5pp $155	+1.0pp $139

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
206 W Polk Ave Unit 2 Charleston, IL	2.0	1.0	550	$700	$1.27	45d	1	0.61mi
15 9th St Unit A Charleston, IL	2.0	1.0	650	$700	$1.08	45d	1	0.87mi
1907 10th St Charleston, IL	2.0	1.0	650	$675	$1.04	45d	1	1.47mi

Listing history 4 events

1. 2026-05-12
   listed $59,900 Active 387-char remark
2. 2023-10-24
   soldstatus $37,500 Closed 251-char remark

   Show marketing remark (251 chars)

   Welcome Home to 422 F Street! This ranch home features 2 bedrooms/1 bathroom and approximately 880 square feet. This is a Fannie Mae HomePath Property and is eligible under the First Look Period until 10/21/2023. Sold AS-IS. Equal Housing Opportunity.

3. 2023-09-21
   listed $39,900 Active 251-char remark

   Show marketing remark (251 chars)

   Welcome Home to 422 F Street! This ranch home features 2 bedrooms/1 bathroom and approximately 880 square feet. This is a Fannie Mae HomePath Property and is eligible under the First Look Period until 10/21/2023. Sold AS-IS. Equal Housing Opportunity.

4. 2020-12-31
   historical

ⓘ 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: $625 · $52/mo
• Projected year-2 tax: $992 · $83/mo
• Expected delta: +$367/yr (+$31/mo · 58.8%)

ⓘ 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: $8,533
• − Mortgage interest: −$3,355
• − Property taxes: −$625
• − Insurance: −$300
• − Repairs & maintenance: −$683
• − Management: −$683
• − Depreciation: −$1,743
• Taxable income: $1,146
• Est. tax owed @ 24.0%: −$275
• After-tax cash flow: $1,773/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

+46.6% since first listed

6 events — show timeline

• 2026-06-11 Sold (MLS) $58,500 CIBR
• 2026-05-21 Pending — CIBR
• 2026-05-12 Listed $59,900 CIBR
• 2023-10-24 Sold (MLS) $37,500 MRED as Distributed by MLS Grid
• 2023-09-21 Listed $39,900 MRED as Distributed by MLS Grid
• 2020-12-31 Listing Removed — MRED as Distributed by MLS Grid

Property tax history

+1.6%/yr

Latest (2025): $625 · +11.4% YoY. Source: county tax records.