Real Estate Investing in Harvel, Illinois (62538)
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Should you buy in 62538 (Harvel, IL)? Our answer, based on the numbers below.
Strong fundamentals — affordable, appreciating, and stable. A confident pick for primary residence.
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.
• 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 Harvel, IL (62538)?
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Market Analysis: 62538 Harvel
The 62538 ZIP in Harvel, IL is a local-operator market. Outside capital chasing a $148K entry has to pair deep knowledge with the discount.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $148K asset, 62538 is the wrong submarket. If the plan prices in friction, the yield can still work.
Meanwhile, 62538 offers a low basis, the region around Harvel has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
Demographically, 62538 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.
Strategy in 62538 is an operator game, not a passive one. Looking more closely, entry prices of $148K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Harvel:
Market Trends
Home Value History (with trend line)
📊 How Does 62538 Compare?
| Metric | 62538 | Harvel | Taylorville, IL | Illinois |
|---|---|---|---|---|
| Home Value | $148,024 | $148,024 | N/A | $279,761 |
| 5-Year CAGR | 7.4% | 7.4% | N/A | 6.6% |
| Avg Rent | $828 | $828 | N/A | - |
| Cap Rate | 4.4% | 4.4% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 62538 (Harvel, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $148,024 |
| Monthly Rent | $828 |
| Price-to-Rent | 14.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.7% |
| Cap Rate | 4.4% |
| 5-Year IRR | 11.8% |
📈 Home Appreciation
| 1-Year | +19.5% ▲ |
| 3-Year CAGR | +10.7% ▲ |
| 5-Year CAGR | +7.4% ▲ |
| 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 (4.4%). 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 62538
Population: 444
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
What is the typical rental rate in Harvel, IL?
The typical rental in Harvel, IL commands about $828/mo monthly. That rent profile predictable cash flow against the $148K purchase basis.
What is the tenant pool like in Harvel, IL?
The tenant pool in Harvel, IL is solid, supported by local employment and population fundamentals. Rents of $828/mo are well-absorbed by the market.
Is IL a landlord-friendly state?
The landlord environment in Harvel, IL is landlord-friendly. Statewide rules shape most day-to-day operations for rental owners.
How should investors approach Harvel, IL?
In Harvel, IL the notable play is typically careful cash-flow rentals with hands-on management. The combination of $148K prices and $828/mo rents suits that approach.
What is the typical home price in Harvel, IL?
Homes in Harvel, IL typically sell near $148K. Prices have moved at a 0.0% 5-year CAGR, which consistent long-term demand.
You know 62538 now. You don’t know where it ranks.
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