1201 E Noleman St · Centralia, IL 62801

$66,000

4 bd · 2.0 ba · 1,207 sqft · Other public records · 181 Days on market

Built 1935 7,800 sqft lot ↓ 12% since listing

---

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 +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice three bedroom bungalow situated on a corner lot. Downstairs bedroom is very spacious, and the upstairs bedrooms have plenty of room plus additional room for office, playroom, or lounge. The window air conditioner upstairs provides extra cooling with the central air unit. The kitchen cabinets are hand made by a prior owner, and there is ample workspace on the kitchen counter. Range , refrigerator, and dishwasher will remain. The dining room has a built in buffet, and French doors separate the living room and dining room. Nice back deck in backyard. The present owner has two exemption on their property taxes. range, refrigerator, dishwasher, remaining fixtures

Key facts

• Covered front porch
• Shade trees
• French doors

Tags

• FULL UNFINISHED CELLAR
• COVERED FRONT PORCH
• REAR DECK
• SHADE TREES
• PARTIALLY FENCED YARD
• FRENCH DOORS

Property features AI

Finance

• Other: Owner-held earnest money accepted; possession at closing
• Financial info: No special service area

Exterior

• Parking: Gravel parking; no garage
• Utilities: Public water; Public sewer; 100 amp electrical service
• Home design: Detached single-family home; 1.5-story design; Not attached to another property; Built before 1978
• Construction: Vinyl siding with frame construction; Block foundation; Approximately 81–90 years old
• Exterior features: Level lot; Lot dimensions approximately 60 x 130

Interior

• Kitchen: Kitchen on main level (12 x 13), vinyl flooring
• Bedrooms: Master bedroom on main level (11 x 12), carpet; Bedroom on main level (12 x 18), carpet; Two bedrooms on second level (10 x 12 and 10 x 13), carpet
• Flooring: Carpet in bedrooms and some areas; Vinyl flooring in kitchen and living room
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Full, unfinished basement with egress window

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $66k.

Deal economics

• At list price, monthly cash flow is $542 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $66k).
• Recommended offer: $58k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.2% vs local median 5.8% in Centralia — 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 68/100 on livability (#481 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D, crime F, amenities F.
• Centralia Hsd 200 (town): math 21% / reading 26% proficiency, ranked #668 of 919 in IL (top 73%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 99 active listings in the ZIP; 2 units permitted in Marion County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $456 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Marion County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 181 days — a 12% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 11y ago; this cycle's ask is 32% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $44k; list at $66k implies a 50% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1935 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $58,080 (12.0% below list)

Questions for the listing agent

1. It's been on market 181 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 1935 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 2.03% ✓
• Cap rate: 16.15%
• Cash-on-cash: 35.22%
• DSCR: 2.57
• GRM: 4.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 30.8%
• Equity multiple: 2.29×
• Total profit: $23,902
• Equity at exit: $9,841

10-year hold

• IRR: 38.1%
• Equity multiple: 4.55×
• Total profit: $65,517
• Equity at exit: $5,706

Cash invested: $18,480 (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 62801

• Home prices YoY: -13.9%
• Active inventory: 99
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,337 medium
• Mortgage (P&I): −$346
• Tax from tax record: −$140 /mo · $1,686/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$281
• Net cashflow: $542

Break-even live

Break-even rent $651

Max offer price $66,000

Occupancy floor 54%

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: $16,500
• Closing costs: $1,980
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-18
   days on market $66,000 Active 181 DOM
2. 2026-06-17
   days on market $66,000 Active 180 DOM
3. 2026-06-16
   days on market $66,000 Active 179 DOM
4. 2026-06-15
   days on market $66,000 Active 178 DOM
5. 2026-06-13
   days on market $66,000 Active 176 DOM
6. 2026-06-12
   days on market $66,000 Active 175 DOM
7. 2026-06-09
   days on market $66,000 Active 172 DOM
8. 2026-06-08
   days on market $66,000 Active 171 DOM
9. 2026-06-07
   days on market $66,000 Active 170 DOM
10. 2026-06-07
    days on market $66,000 Active 169 DOM
11. 2026-06-04
    days on market $66,000 Active 166 DOM
12. 2026-06-02
    days on market $66,000 Active 165 DOM
13. 2026-06-01
    days on market $66,000 Active 164 DOM
14. 2026-05-31
    days on market $66,000 Active 163 DOM
15. 2026-05-31
    days on market $66,000 Active 162 DOM
16. 2026-01-08
    status Active
17. 2026-01-05
    historical
18. 2025-11-17
    price
19. 2025-07-02
    status Active
20. 2025-07-02
    historical
21. 2025-06-13
    historical Under Contract
22. 2025-06-02
    listed Active
23. 2015-08-17
    soldstatus $44,000 671-char remark

    Show marketing remark (671 chars)

    Nice three bedroom bungalow situated on a corner lot. Downstairs bedroom is very spacious, and the upstairs bedrooms have plenty of room plus additional room for office, playroom, or lounge. The window air conditioner upstairs provides extra cooling with the central air unit. The kitchen cabinets are hand made by a prior owner, and there is ample workspace on the kitchen counter. Range , refrigerator, and dishwasher will remain. The dining room has a built in buffet, and French doors separate the living room and dining room. Nice back deck in backyard. The present owner has two exemption on their property taxes. range, refrigerator, dishwasher, remaining fixtures

24. 2015-08-17
    soldstatus $44,000 671-char remark

    Show marketing remark (671 chars)

    Nice three bedroom bungalow situated on a corner lot. Downstairs bedroom is very spacious, and the upstairs bedrooms have plenty of room plus additional room for office, playroom, or lounge. The window air conditioner upstairs provides extra cooling with the central air unit. The kitchen cabinets are hand made by a prior owner, and there is ample workspace on the kitchen counter. Range , refrigerator, and dishwasher will remain. The dining room has a built in buffet, and French doors separate the living room and dining room. Nice back deck in backyard. The present owner has two exemption on their property taxes. range, refrigerator, dishwasher, remaining fixtures

25. 2015-05-12
    listed $49,900 671-char remark

    Show marketing remark (671 chars)

    Nice three bedroom bungalow situated on a corner lot. Downstairs bedroom is very spacious, and the upstairs bedrooms have plenty of room plus additional room for office, playroom, or lounge. The window air conditioner upstairs provides extra cooling with the central air unit. The kitchen cabinets are hand made by a prior owner, and there is ample workspace on the kitchen counter. Range , refrigerator, and dishwasher will remain. The dining room has a built in buffet, and French doors separate the living room and dining room. Nice back deck in backyard. The present owner has two exemption on their property taxes. range, refrigerator, dishwasher, remaining fixtures

26. 2015-05-12
    listed $49,900 671-char remark

    Show marketing remark (671 chars)

    Nice three bedroom bungalow situated on a corner lot. Downstairs bedroom is very spacious, and the upstairs bedrooms have plenty of room plus additional room for office, playroom, or lounge. The window air conditioner upstairs provides extra cooling with the central air unit. The kitchen cabinets are hand made by a prior owner, and there is ample workspace on the kitchen counter. Range , refrigerator, and dishwasher will remain. The dining room has a built in buffet, and French doors separate the living room and dining room. Nice back deck in backyard. The present owner has two exemption on their property taxes. range, refrigerator, dishwasher, remaining fixtures

ⓘ 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: $1,686 · $140/mo
• Projected year-2 tax: $1,686 · $140/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 4/10 Moderate 7 d/yr ≥106°F today · 20 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: $16,047
• − Mortgage interest: −$3,697
• − Property taxes: −$1,686
• − Insurance: −$330
• − Repairs & maintenance: −$1,284
• − Management: −$1,284
• − Depreciation: −$1,920
• Taxable income: $5,847
• Est. tax owed @ 24.0%: −$1,403
• After-tax cash flow: $5,105/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: Centralia Hsd 200
• NCES district ID: 1709300
• Math proficiency: 21% ▲ 6.00%
• Reading proficiency: 26% ▲ 1.00%
• Median HH income: $34,555
• Composite: 22.43/100
• National rank: #13470
• State rank: #668 of 919 in IL

Livability — Centralia

• Score: 68/100
• State rank: #481
• US rank: #9987

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Centralia, IL
• City population: 19,941
• Population (ZIP): 19,941

Population outlook (Marion County) Hauer SSP2

• Today (2025): 36,071 people
• By 2030: 34,598 · -4.1%
• By 2040: 31,754 · -12.0%
• By 2050: 28,912 · -19.8%
• By 2075: 22,527 · -37.5%
• By 2100: 16,455 · -54.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Black 11% Two or more races 4% Hispanic / Latino 4% Asian 1%
• Common ancestry: Serbian 2% Romanian 2% Lithuanian 1%
• Foreign-born: 3% · Canada, China
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Marion

• 2024 margin: Solid R (+49.5) · D 24.6% · R 74.1% · Other 1.4%
• 2008→2024 swing: -47.5pp toward R · 2008: -2.0pp · 2024: -49.5pp
• All cycles: 2024: R+49.5 2020: R+46.6 2016: R+44.9 2012: R+19.2 2008: R+2.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -34.12%
• Current HPI: 211.3835
• 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

-11.8% since first listed

11 events — show timeline

• 2026-01-08 Relisted — MRED as Distributed by MLS Grid
• 2026-01-05 Listing Removed — MRED as Distributed by MLS Grid
• 2025-11-17 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-07-02 Relisted — RMLSA as Distributed by MLS Grid
• 2025-07-02 Listing Removed — RMLSA as Distributed by MLS Grid
• 2025-06-13 Contingent — RMLSA as Distributed by MLS Grid
• 2025-06-02 Listed — RMLSA as Distributed by MLS Grid
• 2015-08-17 Sold (MLS) $44,000 RMLSA as Distributed by MLS Grid
• 2015-08-17 Sold (MLS) $44,000 MRED as Distributed by MLS Grid
• 2015-05-12 Listed $49,900 RMLSA as Distributed by MLS Grid
• 2015-05-12 Listed $49,900 MRED as Distributed by MLS Grid

Property tax history

+14.7%/yr

Latest (2024): $1,686 · -3.1% YoY. Source: county tax records.