Real Estate Investing in Goodfield, Illinois (61742)
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Should you buy in 61742 (Goodfield, IL)? Our answer, based on the numbers below.
Solid choice — stable market with a reasonable entry point and good rental backup if you ever need to move.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Goodfield, IL (61742)?
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Market Analysis: 61742 Goodfield
The 61742 ZIP in Goodfield, IL is a local-operator market. Outside capital chasing a $311K entry has to pair deep knowledge with the discount.
The investment case in 61742 is notable only for operators who understand what they are buying. A $311K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
On balance, 61742 offers a low basis, the region around Goodfield has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
The 61742 ZIP's population of 1,506 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that stands at the need for careful underwriting.
Strategy in 61742 is an operator game, not a passive one. Put differently, entry prices of $311K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Goodfield:
Market Trends
Home Value History (with trend line)
📊 How Does 61742 Compare?
| Metric | 61742 | Goodfield | Peoria, IL | Illinois |
|---|---|---|---|---|
| Home Value | $310,995 | $310,995 | N/A | $279,761 |
| 5-Year CAGR | 4.7% | 4.7% | N/A | 6.6% |
| Avg Rent | $1,080 | $1,080 | N/A | - |
| Cap Rate | 2.7% | 2.7% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 61742 (Goodfield, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $310,995 |
| Monthly Rent | $1,080 |
| Price-to-Rent | 24.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.2% |
| Cap Rate | 2.7% |
| 5-Year IRR | 7.4% |
📈 Home Appreciation
| 1-Year | +7.5% ▲ |
| 3-Year CAGR | +5.3% ▲ |
| 5-Year CAGR | +4.7% ▲ |
| 10-Year CAGR | +4.0% ▲ |
🏠 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 (2.7%). 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 61742
Population: 1,506
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 61742
Schools in This ZIP Code
Nearby Schools (1 more)
Schools in adjacent ZIP codes that may serve this area
Congerville Elem School
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 4,842 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Which real estate strategy fits Goodfield, IL?
Investors who focus on careful cash-flow rentals with hands-on management typically do well in Goodfield, IL. The numbers - $311K homes against $1,080/mo rents - support that play.
Is Goodfield, IL a smart market for rental property?
With a 3.0/5 investability score, Goodfield, IL ranks as a solid market for rental property investors. Median prices of $311K and rents of $1,080/mo drive the underlying numbers.
Are homes affordable in Goodfield, IL?
Goodfield, IL home values average about $311K. That price point suits investors targeting rentals with $1,080/mo in monthly income.
Is Goodfield, IL landlord-friendly?
IL law landlord-friendly for landlords, and Goodfield inherits those rules. Investors should still review local ordinances for rental licensing.
How deep is the rental pool in Goodfield, IL?
Expect a solid tenant pool in Goodfield, IL. The rental market absorbs $1,080/mo rents without meaningful friction.
You know 61742 now. You don’t know where it ranks.
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How 61742 ranks in Peoria, IL
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