Real Estate Investing in Mendon, Illinois (62351)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 62351 (Mendon, 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 Mendon, IL (62351)?
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Market Analysis: 62351 Mendon
The 62351 ZIP covers a section of Mendon that demands careful diligence. Prices near $218K look accessible, but the work to make a deal cash flow is real.
Rent of $1,017/mo on a $218K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 62351 sits below the stated 0.0% once reality is priced in.
ZIP 62351's metrics run below Adams County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
Demographically, 62351 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.
Distressed ZIPs reward experience. sturdy returns are possible in 62351, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in Mendon:
Market Trends
Home Value History (with trend line)
📊 How Does 62351 Compare?
| Metric | 62351 | Mendon | Quincy, IL-MO | Illinois |
|---|---|---|---|---|
| Home Value | $217,895 | $217,895 | N/A | $279,761 |
| 5-Year CAGR | 4.7% | 4.7% | N/A | 6.6% |
| Avg Rent | $1,017 | $1,017 | N/A | - |
| Cap Rate | 3.6% | 3.6% | - | - |
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 62351 (Mendon, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $217,895 |
| Monthly Rent | $1,017 |
| Price-to-Rent | 17.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.6% |
| Cap Rate | 3.6% |
| 5-Year IRR | 8.4% |
📈 Home Appreciation
| 1-Year | +15.2% ▲ |
| 3-Year CAGR | +2.7% ▲ |
| 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 (3.6%). 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 62351
Population: 2,026
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 62351
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 837 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What is the tenant pool like in Mendon, IL?
Expect a solid tenant pool in Mendon, IL. The rental market absorbs $1,017/mo rents without meaningful friction.
Is Mendon, IL a good place for real estate investing?
Yes - Mendon, IL a 3.0/5 investability score. With $218K home prices against $1,017/mo monthly rent, the market delivers a reasonable entry point for new investors.
What price range are homes in Mendon, IL?
The median home value in Mendon, IL is roughly $218K. That puts it reasonable relative to the IL statewide average.
Is Mendon, IL landlord-friendly?
IL law landlord-friendly for landlords, and Mendon inherits those rules. Investors should still review local ordinances for rental licensing.
What do landlords charge for rent in Mendon, IL?
Expect rents around $1,017/mo per month in Mendon, IL. With home values at $218K, the yield math works out to reasonable levels for rental investors.
You know 62351 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 62351 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 62351 ranks in Quincy, IL-MO
Every ZIP in this metro, ranked. Free.
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