811 N Market St · Marion, IL 62959

$130,000

3 bd · 1.5 ba · 2,104 sqft · SingleFamily · 114 Days on market

Built 1880 0.46 ac lot $62/sqft · 16% below area Est $154k · 16% under ↓ 12% since listing

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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 +24.9/30.0
• ARV discount +14.5/15.0
• DSCR +8.1/10.0
• 1% rule +6.0/10.0
• Rent growth +4.6/5.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Classic bungalow located just blocks from our revitalized downtown in one of Marion's historic neighborhoods. This 3-bedroom, 1.5 bath home features a newer roof, and updated porch decking. Beautiful original woodwork highlights the large living room and foyer, along with many charming historic details throughout. Large partially fenced yard including a storage building and carport. A rare opportunity to own a piece of Marions history.

Key facts

• Newer roof
• Storage building
• Large living room

Tags

• NEWER ROOF
• UPDATED PORCH DECKING
• ORIGINAL WOODWORK
• LARGE LIVING ROOM
• PARTIALLY FENCED YARD
• STORAGE BUILDING

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $281 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• Recommended offer: $118k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.9% vs local median 3.8% in Marion — 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 61/100 on livability (#896 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D, schools F, crime F.
• Marion CUSD 2 (urban): math 20% / reading 31% proficiency, ranked #317 of 620 in IL (top 51%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+8.4%/yr); 229 active listings in the ZIP; 130 units permitted in Williamson County in 2024 (5 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $899 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $36k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($118k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1880 — 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 $118,300 (9.0% below list)

Questions for the listing agent

1. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1880 — 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. 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?
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. 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.
8. 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.
9. 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: 1.10% ✓
• Cap rate: 8.88%
• Cash-on-cash: 9.25%
• DSCR: 1.41
• GRM: 7.6

CMA / ARV

• ARV (median comp): $154,035
• List price: $130,000
• Delta: -15.60%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1009 W Boulevard St	0.60mi	3/2.0	1,990 (-5%)	0mo	$169,000	$85	61
1105 N Court St	0.39mi	2/1.5 (-1)	2,104 (0%)	23mo	$47,000	$22	58
503 E Boulevard St	0.28mi	3/2.0	1,861 (-12%)	16mo	$167,500	$90	52
605 S Buchanan St	0.69mi	3/2.0	2,000 (-5%)	15mo	$260,000	$130	45
502 S Virginia Ave	0.61mi	4/2.0 (+1)	2,000 (-5%)	17mo	$120,000	$60	42
608 S Calumet St	0.75mi	3/2.0	2,000 (-5%)	16mo	$205,000	$103	42

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 2.9%
• Equity multiple: 1.12×
• Total profit: $4,339
• Equity at exit: $19,383

10-year hold

• IRR: 16.7%
• Equity multiple: 2.68×
• Total profit: $61,076
• Equity at exit: $11,240

Cash invested: $36,400 (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 62959

• Rents YoY: 8.4%
• Active inventory: 229
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,427 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$111 /mo · $1,329/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $281

Break-even live

Break-even rent $1,072

Max offer price $130,000

Occupancy floor 75%

Sensitivity live

Price	-10% $354	-5% $317	+0% $281	+5% $244	+10% $207
Rent	-10% $168	-5% $224	+0% $281	+5% $337	+10% $393
Rate	-1.0pp $346	-0.5pp $314	base $281	+0.5pp $247	+1.0pp $213

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-21
   days on market $130,000 Active 114 DOM
2. 2026-06-19
   days on market $130,000 Active 112 DOM
3. 2026-06-18
   days on market $130,000 Active 111 DOM
4. 2026-06-17
   days on market $130,000 Active 110 DOM
5. 2026-06-16
   days on market $130,000 Active 109 DOM
6. 2026-06-15
   days on market $130,000 Active 108 DOM
7. 2026-06-14
   days on market $130,000 Active 106 DOM
8. 2026-06-13
   days on market $130,000 Active 105 DOM
9. 2026-06-10
   pricedays on market $130,000 Active 103 DOM
10. 2026-06-09
    days on market $160,500 Active 102 DOM
11. 2026-06-09
    days on market $160,500 Active 101 DOM
12. 2026-06-07
    days on market $160,500 Active 100 DOM
13. 2026-06-05
    days on market $160,500 Active 97 DOM
14. 2026-06-03
    days on market $160,500 Active 96 DOM
15. 2026-06-02
    days on market $160,500 Active 95 DOM
16. 2026-06-01
    days on market $160,500 Active 94 DOM
17. 2026-05-31
    days on market $160,500 Active 93 DOM
18. 2026-05-30
    days on market $160,500 Active 92 DOM
19. 2026-04-13
    price $160,500 440-char remark

    Show marketing remark (440 chars)

    Classic bungalow located just blocks from our revitalized downtown in one of Marion's historic neighborhoods. This 3-bedroom, 1.5 bath home features a newer roof, and updated porch decking. Beautiful original woodwork highlights the large living room and foyer, along with many charming historic details throughout. Large partially fenced yard including a storage building and carport. A rare opportunity to own a piece of Marions history.

20. 2026-03-23
    price $175,000 440-char remark

    Show marketing remark (440 chars)

    Classic bungalow located just blocks from our revitalized downtown in one of Marion's historic neighborhoods. This 3-bedroom, 1.5 bath home features a newer roof, and updated porch decking. Beautiful original woodwork highlights the large living room and foyer, along with many charming historic details throughout. Large partially fenced yard including a storage building and carport. A rare opportunity to own a piece of Marions history.

21. 2026-02-27
    listed $182,500 Active 440-char remark

    Show marketing remark (440 chars)

    Classic bungalow located just blocks from our revitalized downtown in one of Marion's historic neighborhoods. This 3-bedroom, 1.5 bath home features a newer roof, and updated porch decking. Beautiful original woodwork highlights the large living room and foyer, along with many charming historic details throughout. Large partially fenced yard including a storage building and carport. A rare opportunity to own a piece of Marions history.

ⓘ 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: $1,329 · $111/mo
• Projected year-2 tax: $2,140 · $178/mo
• Expected delta: +$811/yr (+$68/mo · 61.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥107°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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,124
• − Mortgage interest: −$7,282
• − Property taxes: −$1,329
• − Insurance: −$650
• − Repairs & maintenance: −$1,370
• − Management: −$1,370
• − Depreciation: −$3,782
• Taxable income: $1,341
• Est. tax owed @ 24.0%: −$322
• After-tax cash flow: $3,046/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: Marion CUSD 2
• NCES district ID: 1724600
• Math proficiency: 20% ▼ -11.00%
• Reading proficiency: 31% ▼ -11.00%
• Median HH income: $46,221
• Composite: 22.07/100
• National rank: #8189
• State rank: #317 of 620 in IL

Livability — Marion

• Score: 61/100
• State rank: #896
• US rank: #17434

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Marion, IL
• County: Williamson County · 38,451 people
• City population: 27,793
• Metro: Carbondale-Marion, IL
• Population (ZIP): 27,793
• Household income: $71,063
• Rent vs Own: 29.0% rent · 71.0% own
• Severe rent burden: 763.0

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 (87%)
• Race & ethnicity: White 87% Black 5% Two or more races 4% Hispanic / Latino 3% Asian 2%
• Common ancestry: Lithuanian 2% Italian 2% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Asian/Pacific 1% Other Indo-European 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: ▼ -76.41%
• Current HPI: 137.5955
• Rent YoY: ▲ 8.40%
• 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

-12.1% since first listed

3 events — show timeline

• 2026-04-13 Price Changed $160,500 MRED as Distributed by MLS Grid
• 2026-03-23 Price Changed $175,000 MRED as Distributed by MLS Grid
• 2026-02-27 Listed $182,500 MRED as Distributed by MLS Grid

Property tax history

-0.4%/yr

Latest (2025): $1,329 · -5.5% YoY. Source: county tax records.