Real Estate Investing in Flanagan, Illinois (61740)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 61740 (Flanagan, 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.
- High vacancy: 14.5% of homes vacant — above national norms.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Flanagan, IL (61740)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 61740 Flanagan
From an investor standpoint, ZIP 61740 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $164K median. It rewards specialists, not generalists.
Distressed markets are won on execution, not on spreadsheets. ZIP 61740 sits at the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Statewide comparisons place 61740 among IL's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Resident income in 61740 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
looks to the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Flanagan:
Property Strategy for 61740
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $96,103 | $960 | 7.2% | — | $48,052 |
| 3BR | $163,936 | $1,190 | 5.2% | — | $54,645 |
| 4BR | $215,103 | $1,270 | 4.3% | — | $53,776 |
Market Trends
Home Value History (with trend line)
📊 How Does 61740 Compare?
| Metric | 61740 | Flanagan | Pontiac, IL | Illinois |
|---|---|---|---|---|
| Home Value | $163,900 | $163,900 | N/A | $279,761 |
| 5-Year CAGR | 7.9% | 7.9% | N/A | 6.6% |
| Avg Rent | $864 | $864 | N/A | - |
| 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 61740 (Flanagan, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $163,900 |
| Monthly Rent | $864 |
| Price-to-Rent | 15.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.3% |
| Cap Rate | 4.1% |
| 5-Year IRR | 12.0% |
📈 Home Appreciation
| 1-Year | +13.3% ▲ |
| 3-Year CAGR | +8.4% ▲ |
| 5-Year CAGR | +7.9% ▲ |
| 10-Year CAGR | +6.4% ▲ |
🏠 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 61740
Population: 1,427
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 61740
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.
Frequently Asked Questions
Is Flanagan, IL landlord-friendly?
IL ranks as a landlord-friendly state for landlord-tenant law. Flanagan generally follows the statewide framework, so landlords face reasonable operating rules.
How should investors approach Flanagan, IL?
In Flanagan, IL the impressive play is typically careful cash-flow rentals with hands-on management. The combination of $164K prices and $864/mo rents suits that approach.
What do landlords charge for rent in Flanagan, IL?
Rent in Flanagan, IL is around $864/mo. The resulting rent-to-value relationship with $164K pricing is reasonable for most investor models.
Does house hacking make sense in Flanagan, IL?
House hacking works a challenging in Flanagan, IL. Rents of $864/mo against $164K acquisition make the strategy solid for owner-occupants.
What is the median home value in Flanagan, IL?
Typical homes in Flanagan, IL go for around $164K. The 5-year CAGR of 0.0% measured price movement.
You know 61740 now. You don’t know where it ranks.
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How 61740 ranks in Pontiac, IL
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