Real Estate Investing in Sherman, Illinois (62684)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 62684 (Sherman, 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.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Sherman, IL (62684)?
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Market Analysis: 62684 Sherman
Not every below-median market is a bargain. Sherman's 62684 ZIP stands at signals that favor experienced operators who can absorb the risk $338K pricing implies.
In practical terms, the numbers look inviting — $338K purchase price, 0.0% nominal cap — the work to hit that pro forma in 62684 is substantial and deserves full respect.
ZIP 62684's metrics run below Sangamon County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
Demographically, 62684 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 62684 is an operator game, not a passive one. From a cash-flow lens, entry prices of $338K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Sherman:
Market Trends
Home Value History (with trend line)
📊 How Does 62684 Compare?
| Metric | 62684 | Sherman | Springfield, IL | Illinois |
|---|---|---|---|---|
| Home Value | $338,202 | $338,202 | N/A | $279,761 |
| 5-Year CAGR | 7.8% | 7.8% | N/A | 6.6% |
| Avg Rent | $1,503 | $1,503 | N/A | - |
| Cap Rate | 3.5% | 3.5% | - | - |
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 62684 (Sherman, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $338,202 |
| Monthly Rent | $1,503 |
| Price-to-Rent | 18.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.3% |
| Cap Rate | 3.5% |
| 5-Year IRR | 11.2% |
📈 Home Appreciation
| 1-Year | +8.7% ▲ |
| 3-Year CAGR | +7.6% ▲ |
| 5-Year CAGR | +7.8% ▲ |
| 10-Year CAGR | +5.4% ▲ |
🏠 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 (3.5%). 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 62684
Population: 5,422
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 62684
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 1,796 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What is the investability score for Sherman, IL?
Yes - Sherman, IL a 3.0/5 investability score. With $338K home prices against $1,503/mo monthly rent, the market delivers a reasonable entry point for new investors.
What monthly rent should investors expect in Sherman, IL?
Rental rates in Sherman, IL average $1,503/mo. Tenant demand and $338K home values make the yield look reasonable by investor standards.
Do rentals sit vacant long in Sherman, IL?
Expect elevated vacancy in Sherman, IL. Rents at $1,503/mo are absorbed by the tenant base without meaningful lag.
Are eviction rules reasonable in Sherman, IL?
For rental operators, Sherman, IL rates as landlord-friendly. The regulatory environment standard buy-and-hold operations.
What is the best play in Sherman, IL?
For Sherman, IL, careful cash-flow rentals with hands-on management is the standard investor playbook. The market structure makes it a reasonable default approach.
You know 62684 now. You don’t know where it ranks.
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How 62684 ranks in Springfield, IL
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