Real Estate Investing in Golconda, Illinois (62938)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 62938 (Golconda, IL)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 35.8% of homes vacant — above national norms.
- Declining values: -4.5% 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 Golconda, IL (62938)?
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Market Analysis: 62938 Golconda
ZIP 62938 in Golconda, IL carries a durable set of headwinds. Home values near $143K and rents of $873/mo sit inside a market where underwriting has to be tight.
The investment case in 62938 is impressive only for operators who understand what they are buying. A $143K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
In the broader IL picture, 62938 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
In practical terms, 2,659 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
Distressed ZIPs reward experience. healthy returns are possible in 62938, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in Golconda:
Market Trends
Home Value History (with trend line)
📊 How Does 62938 Compare?
| Metric | 62938 | Golconda | Illinois |
|---|---|---|---|
| Home Value | $143,466 | $143,466 | $279,761 |
| 5-Year CAGR | N/A | N/A | 6.6% |
| Avg Rent | $873 | $873 | - |
| Cap Rate | 4.8% | 4.8% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 62938 (Golconda, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $143,466 |
| Monthly Rent | $873 |
| Price-to-Rent | 13.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.3% |
| Cap Rate | 4.8% |
| 5-Year IRR | 0.3% |
📈 Home Appreciation
| 1-Year | +12.3% ▲ |
| 3-Year CAGR | -4.5% ▼ |
| 5-Year CAGR | -4.5% ▼ |
| 10-Year CAGR | -2.7% ▼ |
🏠 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 (4.8%). 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 62938
Population: 2,659
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 62938
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
Which real estate strategy fits Golconda, IL?
Investors who focus on careful cash-flow rentals with hands-on management typically do well in Golconda, IL. The numbers - $143K homes against $873/mo rents - support that play.
What is the typical home price in Golconda, IL?
Homes in Golconda, IL typically sell near $143K. Prices have moved at a 0.0% 5-year CAGR, which stable long-term demand.
What kind of vacancy should I budget for in Golconda, IL?
Golconda, IL vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
Is Golconda, IL a friendly market for rental owners?
For rental operators, Golconda, IL rates as landlord-friendly. The regulatory environment standard buy-and-hold operations.
What is the typical rental rate in Golconda, IL?
Investors in Golconda, IL typically see rents near $873/mo per month against $143K home values - a solid setup for rental cash flow.
You know 62938 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 62938 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
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