Real Estate Investing in Grayville, Illinois (62844)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 62844 (Grayville, 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: 18.4% of homes vacant — above national norms.
- Declining values: -3.2% 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 Grayville, IL (62844)?
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Market Analysis: 62844 Grayville
The 62844 ZIP posts an durable value-add profile — below-median pricing at $81K, a renter base of 31%, and room for operational improvement.
Value-add is the defining thesis in 62844. Homes trade near $81K, well below the state median, and rehabbed comps tend to clear meaningfully higher — a classic forced-equity setup.
Comparing Grayville submarkets, ZIP 62844 offers an entry cost that most surrounding neighborhoods have moved past. The solid delta is the opportunity.
A renter-heavy, wage-earner demographic anchors 62844. Value-add players rely on that mix — the 31% share is both the tenant source and the buyer pool for future owner-occupied exits.
Experienced operators with contractor networks find 62844 a strong candidate for. First-time flippers often underestimate scope, budget, and timeline, which is how deals here turn sour.
Here's what matters if you're considering buying a home in Grayville:
Market Trends
Home Value History (with trend line)
📊 How Does 62844 Compare?
| Metric | 62844 | Grayville | Illinois |
|---|---|---|---|
| Home Value | $80,748 | $80,748 | $279,761 |
| 5-Year CAGR | N/A | N/A | 6.6% |
| Avg Rent | $828 | $828 | - |
| Cap Rate | 8.0% | 8.0% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 62844 (Grayville, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $80,748 |
| Monthly Rent | $828 |
| Price-to-Rent | 8.1:1 |
| 1% Rule | ✓ Passes |
💰 Return Metrics
| Gross Yield | 12.3% |
| Cap Rate | 8.0% |
| 5-Year IRR | 4.8% |
📈 Home Appreciation
| 1-Year | -1.0% ▼ |
| 3-Year CAGR | -6.5% ▼ |
| 5-Year CAGR | -3.2% ▼ |
| 10-Year CAGR | -0.5% ▼ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The estimated cap rate (8.0%) exceeds the current 30-yr mortgage rate (6.8%). When borrowing costs less than a property yields, leverage can increase your cash-on-cash return above the cap rate.
⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 62844
Population: 1,904
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 62844
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
Is Grayville in IL worth investing in?
Our data puts Grayville, IL at 4.0/5 for investability. Home prices of $81K and rents around $828/mo create a solid backdrop for investor activity.
What do landlords charge for rent in Grayville, IL?
Rent in Grayville, IL is around $828/mo. The resulting rent-to-value relationship with $81K pricing is reasonable for most investor models.
Can investors BRRRR in Grayville, IL?
Grayville, IL BRRRR deals are a strong. With proper buy-side discipline, operators can recycle most of their capital post-refinance.
Are homes affordable in Grayville, IL?
Grayville, IL median home values land near $81K. That is reasonable territory for investors looking at $828/mo-per-month rentals.
Does house hacking make sense in Grayville, IL?
House hacking works an attractive in Grayville, IL. Rents of $828/mo against $81K acquisition make the strategy solid for owner-occupants.
You know 62844 now. You don’t know where it ranks.
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