Real Estate Investing in Greenup, Illinois (62428)
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Should you buy in 62428 (Greenup, IL)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
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.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Greenup, IL (62428)?
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Market Analysis: 62428 Greenup
ZIP 62428 in Greenup, IL carries a robust set of headwinds. Home values near $160K and rents of $828/mo sit inside a market where underwriting has to be tight.
For an experienced owner, 62428 can be a worth a close look for hunting ground — but the discount at $160K reflects genuine risk that outside investors often underestimate.
In the broader IL picture, 62428 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
Who lives in 62428 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
Strategically, 62428 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Greenup:
Market Trends
Home Value History (with trend line)
📊 How Does 62428 Compare?
| Metric | 62428 | Greenup | Charleston-Mattoon, IL | Illinois |
|---|---|---|---|---|
| Home Value | $159,602 | $159,602 | N/A | $279,761 |
| 5-Year CAGR | 1.5% | 1.5% | N/A | 6.6% |
| Avg Rent | $828 | $828 | N/A | - |
| Cap Rate | 4.1% | 4.1% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 62428 (Greenup, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $159,602 |
| Monthly Rent | $828 |
| Price-to-Rent | 16.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.2% |
| Cap Rate | 4.1% |
| 5-Year IRR | 5.6% |
📈 Home Appreciation
| 1-Year | +18.1% ▲ |
| 3-Year CAGR | +3.3% ▲ |
| 5-Year CAGR | +1.5% ▲ |
| 10-Year CAGR | +3.2% ▲ |
🏠 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 62428
Population: 2,614
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
Is Greenup in IL worth investing in?
Our data puts Greenup, IL at 3.0/5 for investability. Home prices of $160K and rents around $828/mo create a solid backdrop for investor activity.
How tight is the rental market in Greenup, IL?
Greenup, IL carries elevated vacancy risk. Expect stable absorption at market rents of $828/mo.
How much do tenants pay in Greenup, IL?
Rent in Greenup, IL is around $828/mo. The resulting rent-to-value relationship with $160K pricing is reasonable for most investor models.
Is Greenup, IL good for house hacking?
House hacking in Greenup, IL is a challenging. With home values around $160K and rents at $828/mo, owner-occupants can offset a meaningful share of PITI.
How strict are landlord regulations in Greenup, IL?
Greenup, IL operates under IL law, which is landlord-friendly overall for landlords. Expect reliable treatment in typical lease and eviction cases.
You know 62428 now. You don’t know where it ranks.
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How 62428 ranks in Charleston-Mattoon, IL
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