Real Estate Investing in McLeansboro, Illinois (62859)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 62859 (McLeansboro, IL)? Our answer, based on the numbers below.
Mixed — values have been flat. OK for long-horizon buyers, less attractive if you may need to sell soon.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 13.8% of homes vacant — above national norms.
- Declining values: -4.4% 5-year CAGR — values have moved lower.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in McLeansboro, IL (62859)?
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Market Analysis: 62859 McLeansboro
Put differently, ZIP 62859 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $109K median. It rewards specialists, not generalists.
For an experienced owner, 62859 can be a an appealing option for hunting ground — but the discount at $109K reflects genuine risk that outside investors often underestimate.
Meanwhile, 62859 offers a low basis, the region around McLeansboro has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
Resident income in 62859 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
Experienced landlords with local relationships tend to find 62859 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in McLeansboro:
Market Trends
Home Value History (with trend line)
📊 How Does 62859 Compare?
| Metric | 62859 | McLeansboro | Illinois |
|---|---|---|---|
| Home Value | $109,140 | $109,140 | $279,761 |
| 5-Year CAGR | N/A | N/A | 6.6% |
| Avg Rent | $828 | $828 | - |
| Cap Rate | 5.9% | 5.9% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 62859 (McLeansboro, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $109,140 |
| Monthly Rent | $828 |
| Price-to-Rent | 11.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 9.1% |
| Cap Rate | 5.9% |
| 5-Year IRR | 1.6% |
📈 Home Appreciation
| 1-Year | -0.4% ▼ |
| 3-Year CAGR | -4.3% ▼ |
| 5-Year CAGR | -4.4% ▼ |
| 10-Year CAGR | -3.7% ▼ |
🏠 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 (5.9%). 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 62859
Population: 5,199
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 62859
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.
Frequently Asked Questions
Can I house hack in McLeansboro, IL?
McLeansboro, IL is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $109K price point reasonable to enter.
Are tenants stable in McLeansboro, IL?
Working renters make up the core of the McLeansboro, IL tenant base. The pool is reasonable for investors targeting long-term holds.
What price range are homes in McLeansboro, IL?
Median home price in McLeansboro, IL is near $109K, with a 5-year CAGR of 0.0%. Prices have been stable and supportive of buy-and-hold strategies.
Is IL a landlord-friendly state?
Landlord-friendliness in McLeansboro, IL is landlord-friendly. Eviction timelines and lease enforcement are considered reasonable by most property managers.
What do landlords charge for rent in McLeansboro, IL?
Expect rents around $828/mo per month in McLeansboro, IL. With home values at $109K, the yield math works out to reasonable levels for rental investors.
You know 62859 now. You don’t know where it ranks.
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