Real Estate Investing in Good Hope, Illinois (61438)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 61438 (Good Hope, IL)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 15.1% of homes vacant — above national norms.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Good Hope, IL (61438)?
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Market Analysis: 61438 Good Hope
Not every below-median market is a bargain. Good Hope's 61438 ZIP clocks in at signals that favor experienced operators who can absorb the risk $118K pricing implies.
The investment case in 61438 is substantial only for operators who understand what they are buying. A $118K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Regionally, 61438 sits on the difficult end of the IL spectrum. The a credible choice for read — for disciplined operators — is that pricing reflects the difficulty.
A durable renter share of 14% in 61438 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
The 61438 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Good Hope:
Market Trends
Home Value History (with trend line)
📊 How Does 61438 Compare?
| Metric | 61438 | Good Hope | Macomb, IL | Illinois |
|---|---|---|---|---|
| Home Value | $118,363 | $118,363 | N/A | $279,761 |
| 5-Year CAGR | N/A | N/A | N/A | 6.6% |
| Avg Rent | $828 | $828 | N/A | - |
| Cap Rate | 5.5% | 5.5% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 61438 (Good Hope, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $118,363 |
| Monthly Rent | $828 |
| Price-to-Rent | 11.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 8.4% |
| Cap Rate | 5.5% |
| 5-Year IRR | 14.6% |
📈 Home Appreciation
| 1-Year | +9.1% ▲ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
| 10-Year CAGR | N/A |
🏠 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 (5.5%). 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 61438
Population: 702
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 61438
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 572 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Is vacancy a concern in Good Hope, IL?
Rental vacancy in Good Hope, IL is elevated. Investors should budget normal turnover but not chronic empty units.
How much does a house cost in Good Hope, IL?
In Good Hope, IL the median home value sits at $118K. Against the broader IL market, that reads as reasonable for most investors.
How strong is Good Hope, IL for real estate investors?
Good Hope, IL rates 2.0/5 for investability. With median values at $118K and rents near $828/mo, the market offers reasonable fundamentals for rental investors.
What is the tenant pool like in Good Hope, IL?
The tenant pool in Good Hope, IL is solid, supported by local employment and population fundamentals. Rents of $828/mo are well-absorbed by the market.
What are rental rates like in Good Hope, IL?
Rental rates in Good Hope, IL average $828/mo. Tenant demand and $118K home values make the yield look reasonable by investor standards.
You know 61438 now. You don’t know where it ranks.
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How 61438 ranks in Macomb, IL
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