Real Estate Investing in Tamms, Illinois (62988)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 62988 (Tamms, 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: 34.1% of homes vacant — above national norms.
- Declining values: -6.4% 5-year CAGR — values have moved lower.
- Higher unemployment: 8.5% unemployment — tenant risk signal.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Tamms, IL (62988)?
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Market Analysis: 62988 Tamms
ZIP 62988 inside Alexander County looks affordable on the surface — median value of $111K — but the discount exists for reasons that a careful buyer should understand before committing.
On the rental side, the numbers look inviting — $111K purchase price, 0.0% nominal cap — the work to hit that pro forma in 62988 is substantial and deserves full respect.
Stepping back, 62988 offers a low basis, the region around Tamms has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
The demographic picture in 62988 includes headwinds that any investor should price in. Income distribution skews lower than Tamms averages, and tenant stability requires active management.
seems to the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Tamms:
Market Trends
Home Value History (with trend line)
📊 How Does 62988 Compare?
| Metric | 62988 | Tamms | Cape Girardeau, MO-IL | Illinois |
|---|---|---|---|---|
| Home Value | $111,342 | $111,342 | N/A | $279,761 |
| 5-Year CAGR | N/A | N/A | N/A | 6.6% |
| Avg Rent | $828 | $828 | N/A | - |
| Cap Rate | 5.8% | 5.8% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 62988 (Tamms, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $111,342 |
| Monthly Rent | $828 |
| Price-to-Rent | 11.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 8.9% |
| Cap Rate | 5.8% |
| 5-Year IRR | N/A |
📈 Home Appreciation
| 1-Year | -0.6% ▼ |
| 3-Year CAGR | -6.2% ▼ |
| 5-Year CAGR | -6.4% ▼ |
| 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 (5.8%). 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 62988
Population: 1,222
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 62988
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 1,076 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What is the smart move for investors in Tamms, IL?
The best-fit strategy in Tamms, IL is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
Is vacancy a concern in Tamms, IL?
Tamms, IL sees elevated vacancy, which is reasonable relative to the broader IL rental market.
Where do rents currently stand in Tamms, IL?
Tamms, IL rentals go for roughly $828/mo a month. That puts gross yield in solid territory relative to $111K acquisition costs.
How much should I expect to pay for a home in Tamms, IL?
The median home value in Tamms, IL is roughly $111K. That puts it reasonable relative to the IL statewide average.
Does house hacking make sense in Tamms, IL?
The house hack math a challenging in Tamms, IL. Owner-occupant buyers benefit from the $828/mo rents and $111K home values.
You know 62988 now. You don’t know where it ranks.
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How 62988 ranks in Cape Girardeau, MO-IL
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