519 Nevada St · Carterville, IL 62918

$38,500

2 bd · 1.0 ba · 873 sqft · Other · 182 Days on market

Built 1920 8,750 sqft lot $44/sqft · 52% below area

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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
• Livability +3.8/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Good Rental Investment single family home all on 1 level in. Also could be purchased with a package of other single family homes available for sale.

Key facts

• 8,750 sq ft lot
• Built 1920
• Listed 181 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $38k.

Deal economics

• At list price, monthly cash flow is $410 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($889 rent vs $38k).
• Recommended offer: $34k (12.0% below list) — sets the bar for market timing.
• Cap rate 19.1% vs local median 4.7% in Carterville — 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 75/100 on livability (#211 in IL, #3,939 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Carterville CUSD 5 (suburban): math 29% / reading 43% proficiency, ranked #185 of 620 in IL (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 110 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 130 units permitted in Williamson County in 2024 (5 in 5+ unit buildings).
• This rent is only 15% of the median local income ($71k/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 $266 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 182 days — a 12% lower offer ($34k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $33,880 (12.0% below list)

Questions for the listing agent

1. It's been on market 182 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 1920 — 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. 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.
6. 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.
7. 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: 2.31% ✓
• Cap rate: 19.09%
• Cash-on-cash: 45.70%
• DSCR: 3.03
• GRM: 3.6

CMA / ARV

• ARV (median comp): $79,826
• List price: $38,500
• Delta: -51.77%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 42.9%
• Equity multiple: 2.85×
• Total profit: $19,935
• Equity at exit: $5,740

10-year hold

• IRR: 49.0%
• Equity multiple: 5.74×
• Total profit: $51,143
• Equity at exit: $3,329

Cash invested: $10,780 (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 62918

• Home prices YoY: -13.8%
• Active inventory: 110
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $889 medium
• Mortgage (P&I): −$202
• Tax from tax record: −$74 /mo · $885/yr
• Insurance: −$16
• HOA: −$0
• Vacancy / Maint / Mgmt: −$187
• Net cashflow: $410

Break-even live

Break-even rent $369

Max offer price $38,500

Occupancy floor 49%

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: $9,625
• Closing costs: $1,155
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
507 1st St Apt 1 Carterville, IL	2.0	1.0	680	$750	$1.10	44d	1	0.62mi
3 Briarwood Rd Carterville, IL	1.0	1.0	650	$900	$1.38	44d	1	0.86mi

Listing history 21 events

1. 2026-06-19
   days on market $38,500 Active 182 DOM
2. 2026-06-18
   days on market $38,500 Active 181 DOM
3. 2026-06-17
   days on market $38,500 Active 180 DOM
4. 2026-06-16
   days on market $38,500 Active 179 DOM
5. 2026-06-15
   days on market $38,500 Active 178 DOM
6. 2026-06-14
   days on market $38,500 Active 176 DOM
7. 2026-06-13
   days on market $38,500 Active 175 DOM
8. 2026-06-10
   days on market $38,500 Active 173 DOM
9. 2026-06-09
   days on market $38,500 Active 172 DOM
10. 2026-06-08
    days on market $38,500 Active 171 DOM
11. 2026-06-07
    days on market $38,500 Active 170 DOM
12. 2026-06-05
    days on market $38,500 Active 167 DOM
13. 2026-06-02
    days on market $38,500 Active 165 DOM
14. 2026-06-01
    days on market $38,500 Active 164 DOM
15. 2026-05-31
    days on market $38,500 Active 163 DOM
16. 2026-05-30
    days on market $38,500 Active 162 DOM
17. 2026-01-08
    status Active
18. 2026-01-06
    historical
19. 2026-01-05
    historical
20. 2025-08-03
    listed Active
21. 2021-08-06
    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: $885 · $74/mo
• Projected year-2 tax: $885 · $74/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 · 20 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: $10,666
• − Mortgage interest: −$2,157
• − Property taxes: −$885
• − Insurance: −$192
• − Repairs & maintenance: −$853
• − Management: −$853
• − Depreciation: −$1,120
• Taxable income: $4,605
• Est. tax owed @ 24.0%: −$1,105
• After-tax cash flow: $3,821/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: Carterville CUSD 5
• NCES district ID: 1708640
• Math proficiency: 29% ▼ -16.00%
• Reading proficiency: 43% ▼ -18.00%
• Median HH income: $47,344
• Composite: 30.87/100
• National rank: #6122
• State rank: #185 of 620 in IL

Livability — Carterville

• Score: 75/100
• State rank: #211
• US rank: #3939

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Carterville, IL
• County: Williamson County · 38,451 people
• City population: 10,658
• Metro: Carbondale-Marion, IL
• Population (ZIP): 10,658
• Household income: $70,920
• Rent vs Own: 36.0% rent · 64.0% own
• Severe rent burden: 240.0

Population outlook (Williamson County) Hauer SSP2

• Today (2025): 69,553 people
• By 2030: 70,090 · +0.8%
• By 2040: 70,345 · +1.1%
• By 2050: 69,394 · -0.2%
• By 2075: 63,590 · -8.6%
• By 2100: 51,154 · -26.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 4% Hispanic / Latino 3% Asian 3% Black 2%
• Common ancestry: Slovak 4% Italian 2% Lithuanian 2%
• Foreign-born: 2% · Canada, Vietnam
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 1% Vietnamese 1%

Political lean MEDSL · Williamson

• 2024 margin: Solid R (+38.8) · D 30.0% · R 68.8% · Other 1.3%
• 2008→2024 swing: -24.0pp toward R · 2008: -14.8pp · 2024: -38.8pp
• All cycles: 2024: R+38.8 2020: R+37.3 2016: R+41.2 2012: R+25.0 2008: R+14.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -25.58%
• Current HPI: 159.1431
• Rent YoY: —
• 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

Property tax history

+4.0%/yr

Latest (2025): $885 · +6.2% YoY. Source: county tax records.