Real Estate Investing in Colona, Illinois (61241)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 61241 (Colona, IL)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 8.2% vacancy may signal weakening demand.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Colona, IL (61241)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 61241 Colona
ZIP 61241 in Colona, IL carries a resilient set of headwinds. Home values near $189K and rents of $999/mo sit inside a market where underwriting has to be tight.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 61241 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
Within IL, ZIP 61241 trails on several market indicators that neighboring Henry County submarkets outperform. The gap is real and significant enough to shape underwriting.
Employment concentration in 61241 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
Strategically, 61241 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Colona:
Property Strategy for 61241
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $114,472 | $1,110 | 7.0% | +7.0% | $57,236 |
| 3BR | $185,686 | $1,450 | 5.6% | +6.2% | $61,895 |
| 4BR | $231,705 | $1,770 | 5.5% | +5.6% | $57,926 |
Market Trends
Home Value History (with trend line)
📊 How Does 61241 Compare?
| Metric | 61241 | Colona | Illinois |
|---|---|---|---|
| Home Value | $189,354 | $189,354 | $279,761 |
| 5-Year CAGR | 6.6% | 6.6% | 6.6% |
| Avg Rent | $999 | $999 | - |
| Cap Rate | 4.1% | 4.1% | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 61241 (Colona, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $189,354 |
| Monthly Rent | $999 |
| Price-to-Rent | 15.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.3% |
| Cap Rate | 4.1% |
| 5-Year IRR | 10.7% |
📈 Home Appreciation
| 1-Year | +13.0% ▲ |
| 3-Year CAGR | +7.5% ▲ |
| 5-Year CAGR | +6.6% ▲ |
| 10-Year CAGR | +5.3% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.1%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 61241
Population: 6,637
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 61241
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 2,196 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Is house hacking profitable in Colona, IL?
House hacking in Colona, IL is reasonable to execute. Prices around $189K and rents of $999/mo solid owner-occupant economics.
How deep is the rental pool in Colona, IL?
The tenant pool in Colona, IL is solid, supported by local employment and population fundamentals. Rents of $999/mo are well-absorbed by the market.
Is IL a landlord-friendly state?
Landlord-friendliness in Colona, IL is landlord-friendly. Eviction timelines and lease enforcement are considered reasonable by most property managers.
Should investors consider Colona, IL?
The 3.0/5 investability rating in Colona, IL reflects its $189K prices and $999/mo rents. Investors generally consider it a solid option within IL.
What is the average home sale price in Colona, IL?
Expect median prices around $189K in Colona, IL. The market has run at a 0.0% 5-year CAGR, so entry costs have been consistent.
You know 61241 now. You don’t know where it ranks.
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How 61241 ranks in Davenport-Moline-Rock Island, IA-IL
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