Real Estate Investing in Ellis Grove, Illinois (62241)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 62241 (Ellis Grove, IL)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
Structural challenges here. The numbers may look cheap but operational risk is high. Only for experienced, hands-on investors.
- High vacancy: 14.5% 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 Ellis Grove, IL (62241)?
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Market Analysis: 62241 Ellis Grove
The 62241 ZIP in Ellis Grove, IL is a local-operator market. Outside capital chasing a $176K entry has to pair deep knowledge with the discount.
Distressed markets are won on execution, not on spreadsheets. ZIP 62241 reports the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Nearby ZIPs in Ellis Grove have seen price recovery that 62241 has not matched. Randolph County data supports the view that the spread is structural rather than temporary.
Demographically, 62241 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
The 62241 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 Ellis Grove:
Market Trends
Home Value History (with trend line)
📊 How Does 62241 Compare?
| Metric | 62241 | Ellis Grove | Illinois |
|---|---|---|---|
| Home Value | $176,450 | $176,450 | $279,761 |
| 5-Year CAGR | N/A | N/A | 6.6% |
| Avg Rent | $837 | $837 | - |
| Cap Rate | 3.7% | 3.7% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 62241 (Ellis Grove, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $176,450 |
| Monthly Rent | $837 |
| Price-to-Rent | 17.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.7% |
| Cap Rate | 3.7% |
| 5-Year IRR | 13.7% |
📈 Home Appreciation
| 1-Year | +10.0% ▲ |
| 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 (3.7%). 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 62241
Population: 891
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
Frequently Asked Questions
How do home values compare in Ellis Grove, IL?
In Ellis Grove, IL the median home value sits at $176K. Against the broader IL market, that reads as reasonable for most investors.
Does Ellis Grove, IL favor landlords or tenants?
Ellis Grove, IL operates under IL law, which is landlord-friendly overall for landlords. Expect reliable treatment in typical lease and eviction cases.
Does house hacking work in Ellis Grove, IL?
House hacking in Ellis Grove, IL is reasonable to execute. Prices around $176K and rents of $837/mo solid owner-occupant economics.
What is the best play in Ellis Grove, IL?
Ellis Grove, IL investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($176K prices, $837/mo rents) make it a reasonable choice.
How strong is tenant demand in Ellis Grove, IL?
Ellis Grove, IL draws a steady base of working renters. Demand at the $837/mo rent level is reasonable for standard single-family and small multi rentals.
You know 62241 now. You don’t know where it ranks.
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