508 N Davis St · Carbondale, IL 62901

$59,900

1 bd · 1.0 ba · 768 sqft · SingleFamily public records · 31 Days on market

Built 1946 4,525 sqft lot Est $49k · 22% over

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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 +14.6/30.0
• 1% rule +6.2/10.0
• DSCR +4.5/10.0
• Rent growth +3.6/5.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Charming home conveniently located close to SIU and the hospital with updated flooring and spacious living areas! Features a cozy living room with plenty of natural light, an eat in kitchen, and a dedicated laundry room. Great opportunity for a first-time homebuyer or an investment property.

Key facts

• Cozy living room
• Eat in kitchen
• Updated flooring

Tags

• UPDATED FLOORING
• SPACIOUS LIVING AREAS
• COZY LIVING ROOM
• EAT IN KITCHEN
• DEDICATED LAUNDRY ROOM

Property features AI

Finance

• Other: Located in the Michael's Place subdivision
• Financial info: No investor or income/expense details provided
• HOA & community: No HOA information provided

Exterior

• Parking: Carport (no attached garage)
• Security: No specific security features reported
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Built in 1946; Total living area reported as 768
• Construction: Shingle roof; Not new construction
• Exterior features: Level lot; Lot dimensions approximately 50 x 90.5

Interior

• Kitchen: Kitchen on main level
• Bedrooms: 2 bedrooms (both on the main level)
• Flooring: Luxury vinyl plank in bedrooms, living room; Laminate in kitchen
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: No fireplaces reported; Basement: none (crawl space present)
• Laundry & utility: No specific laundry/utility details provided

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $14 ($173/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($672 rent vs $60k).
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.6% vs local median 4.9% 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: Carbondale Comm H S (math 26% / reading 35%, grade F, #175 of 693 statewide, top 26%, 997 students, 0% FRL).
• Market conditions: Rents rising fast (+4.5%/yr); 202 active listings in the ZIP; 2 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 5 units permitted in Jackson County in 2024 (0 in 5+ unit buildings).

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.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 19y 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.
• Current owner paid $30k; list at $60k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.6% of price; built in 1946 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $58,103 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 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 1946 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.12% ✓
• Cap rate: 6.58%
• Cash-on-cash: 1.03%
• DSCR: 1.05
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $49,152
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
520 N Davis St	0.06mi	2/1.0 (+1)	768 (0%)	8mo	$85,000	$111	86
520 N Davis St	0.06mi	2/1.0 (+1)	768 (0%)	8mo	$85,000	$111	86
507 N Davis St	0.03mi	2/1.0 (+1)	780 (+2%)	7mo	$50,000	$64	85
507 N Davis St	0.03mi	2/1.0 (+1)	780 (+2%)	7mo	$50,000	$64	85
511 N Davis St	0.03mi	2/1.0 (+1)	780 (+2%)	9mo	$64,900	$83	83
605 N Carico St	0.09mi	2/1.0 (+1)	700 (-9%)	0mo	$32,000	$46	76
502 W Chestnut St	0.20mi	2/1.0 (+1)	804 (+5%)	6mo	$93,000	$116	73
720 N Carico St	0.19mi	2/1.0 (+1)	818 (+6%)	4mo	$30,000	$37	72
603 N Carico St St	0.09mi	2/1.0 (+1)	838 (+9%)	4mo	$10,000	$12	72
521 N Allyn St	0.35mi	2/1.0 (+1)	720 (-6%)	9mo	$37,250	$52	61
521 N Allyn St	0.35mi	2/1.0 (+1)	720 (-6%)	9mo	$37,250	$52	61
805 N James St	0.47mi	2/1.0 (+1)	698 (-9%)	8mo	$27,500	$39	51

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 · 4.51% rent growth · sell at horizon

5-year hold

• IRR: -12.4%
• Equity multiple: 0.54×
• Total profit: $-7,677
• Equity at exit: $8,931

10-year hold

• IRR: -0.6%
• Equity multiple: 0.95×
• Total profit: $-816
• 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 62901

• Rents YoY: 4.5%
• Active inventory: 202
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $672 medium
• Mortgage (P&I): −$314
• Tax from tax record: −$178 /mo · $2,131/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$141
• Net cashflow: $14

Break-even live

Break-even rent $654

Max offer price $59,900

Occupancy floor 93%

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 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
600 W Mill St Carbondale, IL	1.0	1.0	615	$750	$1.22	43d	2	0.79mi
250 S Lewis Ln Carbondale, IL	3.0	1.0	622	$550	$0.88	43d	1	1.18mi

Listing history 27 events

1. 2026-06-19
   days on market $59,900 Active 31 DOM
2. 2026-06-18
   days on market $59,900 Active 30 DOM
3. 2026-06-17
   days on market $59,900 Active 29 DOM
4. 2026-06-16
   days on market $59,900 Active 28 DOM
5. 2026-06-15
   days on market $59,900 Active 27 DOM
6. 2026-06-14
   days on market $59,900 Active 25 DOM
7. 2026-06-13
   days on market $59,900 Active 24 DOM
8. 2026-06-10
   days on market $59,900 Active 22 DOM
9. 2026-06-09
   days on market $59,900 Active 21 DOM
10. 2026-06-08
    days on market $59,900 Active 20 DOM
11. 2026-06-07
    days on market $59,900 Active 19 DOM
12. 2026-06-02
    days on market $59,900 Active 14 DOM
13. 2026-06-01
    days on market $59,900 Active 13 DOM
14. 2026-05-31
    days on market $59,900 Active 12 DOM
15. 2026-05-30
    days on market $59,900 Active 11 DOM
16. 2026-05-19
    listed $59,900 Active
17. 2021-08-06
    historical
18. 2021-08-06
    historical
19. 2021-08-06
    historical
20. 2015-11-04
    soldstatus $30,000
21. 2015-08-21
    historical
22. 2015-07-11
    historical
23. 2007-10-29
    soldstatus $50,000
24. 2007-10-29
    soldstatus $50,000
25. 2007-10-26
    listed $52,000
26. 2007-10-26
    listed $52,000
27. 2007-06-01
    soldstatus $50,000

ⓘ 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: $2,131 · $178/mo
• Projected year-2 tax: $2,131 · $178/mo
• Expected delta: $0/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 5/10 Major 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: $8,068
• − Mortgage interest: −$3,355
• − Property taxes: −$2,131
• − Insurance: −$300
• − Repairs & maintenance: −$645
• − Management: −$645
• − Depreciation: −$1,743
• Taxable loss: −$752
• Est. tax savings @ 24.0%: +$180
• After-tax cash flow: $354/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

• Census place: Carbondale, IL
• County: Jackson County · 22,946 people
• City population: 22,946
• Metro: Carbondale-Marion, IL
• Population (ZIP): 22,946
• Household income: $35,089
• Rent vs Own: 70.0% rent · 30.0% own
• Severe rent burden: 2038.0

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: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 59% Black 26% Asian 6% Hispanic / Latino 5% Two or more races 5%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 2% Italian 2% Slovak 2%
• Foreign-born: 9% · Canada, China, South Korea
• Languages at home: 87% English-only · Other Indo-European 4% Spanish 4% Arabic 2%

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: ▼ -75.62%
• Current HPI: 88.7209
• Rent YoY: ▲ 4.51%
• Metro: Carbondale-Marion, 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

+19.8% since first listed

12 events — show timeline

• 2026-05-19 Listed $59,900 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
• 2015-11-04 Sold (Public Records) $30,000 Public Records
• 2015-08-21 Listing Removed — MRED as Distributed by MLS Grid
• 2015-07-11 Listing Removed — MRED as Distributed by MLS Grid
• 2007-10-29 Sold (MLS) $50,000 MRED as Distributed by MLS Grid
• 2007-10-29 Sold (MLS) $50,000 RMLSA as Distributed by MLS Grid
• 2007-10-26 Listed $52,000 MRED as Distributed by MLS Grid
• 2007-10-26 Listed $52,000 RMLSA as Distributed by MLS Grid
• 2007-06-01 Sold (Public Records) $50,000 Public Records

Property tax history

+3.7%/yr

Latest (2024): $2,131 · +6.4% YoY. Source: county tax records.