65 Payne Dr · Goreville, IL 62939

$150,000

4 bd · 3.0 ba · 2,240 sqft · SingleFamily · 60 Days on market

Built 2001 Good condition $67/sqft · 46% below area Est $279k · 46% under

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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).

• ARV discount +15.0/15.0
• Cash flow +14.5/30.0
• DSCR +4.4/10.0
• 1% rule +4.0/10.0
• Condition / age +3.8/5.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located in the desirable Eagle Point Bay subdivision at the Lake of Egypt, this expansive 4-bedroom, 3-bath home offers a well-designed layout, updates and a setting that embraces both comfort and convenience. Situated on three lots, this property features a fully fenced-in backyard along with a spacious back deck that provides an excellent extension of the indoor living space. Inside, the home showcases a split floor plan that enhances privacy and functionality. Two separate living areas offer versatility for a variety of needs, whether you desire additional seating space, a second lounge or a flexible-use room. Recent updates throughout add both value and appeal, including remodeled bathrooms with updated finishes, new sub-flooring and luxury vinyl planks that both run seamlessly throughout the entirety of the home. This one continues to impress with a wood burning fireplace in the family room, the covered front porch that offers a comfortable spot to enjoy the surrounding natural setting and a durable metal roof for extra peace of mind. Additionally, residents of Eagle Point Bay have the option to join the neighborhood association for just $70 annually, adding further value to this serene property. With the combination of size, updates and location near LOE, this abode presents a strong opportunity for those seeking that lake lifestyle. Call for a private viewing today!

Key facts

• Spacious back deck
• Split floor plan
• Remodeled bathrooms

Tags

• EAGLE POINT BAY SUBDIVISION
• FULLY FENCED-IN BACKYARD
• SPACIOUS BACK DECK
• SPLIT FLOOR PLAN
• TWO SEPARATE LIVING AREAS
• REMODELED BATHROOMS

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $150k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $32 ($388/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $135k (9.8% below list).
• Recommended offer: $135k (9.8% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 1.3% in Goreville — 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 72/100 on livability (#298 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D+, amenities F, commute F.
• Goreville CUD 1 (rural): math 18% / reading 31% proficiency, ranked #337 of 620 in IL (top 54%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 58 active listings in the ZIP.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Johnson County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 4y ago; this cycle's ask has dropped $30k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• 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 $135,313 (9.8% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 0.90% ✗
• Cap rate: 6.55%
• Cash-on-cash: 0.92%
• DSCR: 1.04
• GRM: 9.2

CMA / ARV

• ARV (median comp): $279,419
• List price: $150,000
• Delta: -46.32%
• Verdict: UNDERPRICED
• Comps: 5 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -14.8%
• Equity multiple: 0.47×
• Total profit: $-22,225
• Equity at exit: $22,365

10-year hold

• IRR: -6.1%
• Equity multiple: 0.60×
• Total profit: $-16,617
• Equity at exit: $12,969

Cash invested: $42,000 (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 62939

• Home prices YoY: -17.3%
• Active inventory: 58
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,353 medium
• Mortgage (P&I): −$787
• Tax est. 1.5%: −$188 /mo · $2,250/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $32

Break-even live

Break-even rent $1,312

Max offer price $150,000

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 34 events

1. 2026-06-19
   statusdays on market $150,000 Under Contract 60 DOM
2. 2026-06-18
   days on market $150,000 Active 59 DOM
3. 2026-06-17
   days on market $150,000 Active 58 DOM
4. 2026-06-16
   days on market $150,000 Active 57 DOM
5. 2026-06-15
   days on market $150,000 Active 56 DOM
6. 2026-06-14
   days on market $150,000 Active 54 DOM
7. 2026-06-13
   days on market $150,000 Active 53 DOM
8. 2026-06-10
   days on market $150,000 Active 51 DOM
9. 2026-06-09
   days on market $150,000 Active 50 DOM
10. 2026-06-08
    pricedays on market $150,000 Active 49 DOM
11. 2026-06-07
    days on market $160,000 Active 48 DOM
12. 2026-06-05
    days on market $160,000 Active 45 DOM
13. 2026-06-02
    days on market $160,000 Active 43 DOM
14. 2026-06-01
    days on market $160,000 Active 42 DOM
15. 2026-05-31
    days on market $160,000 Active 41 DOM
16. 2026-05-30
    days on market $160,000 Active 40 DOM
17. 2026-05-06
    price $174,900 1395-char remark

    Show marketing remark (1395 chars)

    Located in the desirable Eagle Point Bay subdivision at the Lake of Egypt, this expansive 4-bedroom, 3-bath home offers a well-designed layout, updates and a setting that embraces both comfort and convenience. Situated on three lots, this property features a fully fenced-in backyard along with a spacious back deck that provides an excellent extension of the indoor living space. Inside, the home showcases a split floor plan that enhances privacy and functionality. Two separate living areas offer versatility for a variety of needs, whether you desire additional seating space, a second lounge or a flexible-use room. Recent updates throughout add both value and appeal, including remodeled bathrooms with updated finishes, new sub-flooring and luxury vinyl planks that both run seamlessly throughout the entirety of the home. This one continues to impress with a wood burning fireplace in the family room, the covered front porch that offers a comfortable spot to enjoy the surrounding natural setting and a durable metal roof for extra peace of mind. Additionally, residents of Eagle Point Bay have the option to join the neighborhood association for just $70 annually, adding further value to this serene property. With the combination of size, updates and location near LOE, this abode presents a strong opportunity for those seeking that lake lifestyle. Call for a private viewing today!

18. 2026-04-20
    listed $179,900 Active 1395-char remark

    Show marketing remark (1395 chars)

    Located in the desirable Eagle Point Bay subdivision at the Lake of Egypt, this expansive 4-bedroom, 3-bath home offers a well-designed layout, updates and a setting that embraces both comfort and convenience. Situated on three lots, this property features a fully fenced-in backyard along with a spacious back deck that provides an excellent extension of the indoor living space. Inside, the home showcases a split floor plan that enhances privacy and functionality. Two separate living areas offer versatility for a variety of needs, whether you desire additional seating space, a second lounge or a flexible-use room. Recent updates throughout add both value and appeal, including remodeled bathrooms with updated finishes, new sub-flooring and luxury vinyl planks that both run seamlessly throughout the entirety of the home. This one continues to impress with a wood burning fireplace in the family room, the covered front porch that offers a comfortable spot to enjoy the surrounding natural setting and a durable metal roof for extra peace of mind. Additionally, residents of Eagle Point Bay have the option to join the neighborhood association for just $70 annually, adding further value to this serene property. With the combination of size, updates and location near LOE, this abode presents a strong opportunity for those seeking that lake lifestyle. Call for a private viewing today!

19. 2026-03-01
    historical
20. 2025-11-19
    price
21. 2025-11-14
    price
22. 2025-11-10
    status Active
23. 2025-11-10
    historical
24. 2025-10-28
    historical Under Contract
25. 2025-10-01
    listed Active
26. 2024-05-07
    soldstatus $145,000 Closed
27. 2024-05-07
    soldstatus $145,000
28. 2024-03-13
    historical Under Contract
29. 2024-03-06
    price $164,900
30. 2023-12-18
    listed $175,000 Active
31. 2023-12-18
    listed $164,900
32. 2023-03-08
    historical
33. 2023-03-07
    historical
34. 2022-09-07
    listed Active

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥106°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,238
• − Mortgage interest: −$8,402
• − Property taxes: −$2,250
• − Insurance: −$750
• − Repairs & maintenance: −$1,299
• − Management: −$1,299
• − Depreciation: −$4,364
• Taxable loss: −$2,126
• Est. tax savings @ 24.0%: +$510
• After-tax cash flow: $899/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This well-maintained single-family home in Eagle Point Bay subdivision offers a good condition with recent updates and a spacious backyard. It is ready for a new owner or tenant.

Value-add opportunities

• Resale Paint exterior trim — Enhances curb appeal and value
• Rental Clean gutters — Keeps property in good condition and prevents water damage

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior trim — Enhances curb appeal and value ↑
• Rental Clean gutters — Keeps property in good condition and prevents water damage ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Goreville CUD 1
• NCES district ID: 1700014
• Math proficiency: 18% ▼ -4.00%
• Reading proficiency: 31% ▼ -13.00%
• Median HH income: $49,298
• Composite: 21.52/100
• National rank: #8317
• State rank: #337 of 620 in IL

Livability — Goreville

• Score: 72/100
• State rank: #298
• US rank: #5712

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 3,072
• Population (ZIP): 3,072

Population outlook (Johnson County) Hauer SSP2

• Today (2025): 13,355 people
• By 2030: 13,579 · +1.7%
• By 2040: 13,849 · +3.7%
• By 2050: 13,880 · +3.9%
• By 2075: 13,759 · +3.0%
• By 2100: 11,536 · -13.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 7% Hispanic / Latino 2%
• Common ancestry: Slovak 6% Danish 4% Romanian 3%
• Foreign-born: 0%
• Languages at home: 97% English-only · Spanish 3%

Political lean MEDSL · Johnson

• 2024 margin: Solid R (+58.3) · D 20.3% · R 78.6% · Other 1.1%
• 2008→2024 swing: -23.7pp toward R · 2008: -34.6pp · 2024: -58.3pp
• All cycles: 2024: R+58.3 2020: R+58.6 2016: R+58.3 2012: R+42.1 2008: R+34.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -33.34%
• Current HPI: 159.748
• 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

-0.1% since first listed

18 events — show timeline

• 2026-05-06 Price Changed $174,900 RMLSA as Distributed by MLS Grid
• 2026-04-20 Listed $179,900 RMLSA as Distributed by MLS Grid
• 2026-03-01 Listing Removed — MRED as Distributed by MLS Grid
• 2025-11-19 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-11-14 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-11-10 Relisted — RMLSA as Distributed by MLS Grid
• 2025-11-10 Listing Removed — RMLSA as Distributed by MLS Grid
• 2025-10-28 Contingent — RMLSA as Distributed by MLS Grid
• 2025-10-01 Listed — RMLSA as Distributed by MLS Grid
• 2024-05-07 Sold (MLS) $145,000 MRED as Distributed by MLS Grid
• 2024-05-07 Sold (MLS) $145,000 RMLSA as Distributed by MLS Grid
• 2024-03-13 Contingent — RMLSA as Distributed by MLS Grid
• 2024-03-06 Price Changed $164,900 RMLSA as Distributed by MLS Grid
• 2023-12-18 Listed $164,900 MRED as Distributed by MLS Grid
• 2023-12-18 Listed $175,000 RMLSA as Distributed by MLS Grid
• 2023-03-08 Listing Removed — RMLSA as Distributed by MLS Grid
• 2023-03-07 Listing Removed — MRED as Distributed by MLS Grid
• 2022-09-07 Listed — RMLSA as Distributed by MLS Grid