Real Estate Investing in Thebes, Illinois (62990)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 62990 (Thebes, 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: 29.1% of homes vacant — above national norms.
- Declining values: -2.6% 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 Thebes, IL (62990)?
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Market Analysis: 62990 Thebes
Investors eyeing 62990 need to respect the fundamentals at play. Home values of $127K come alongside slower price movement and elevated management overhead.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 62990 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
Within IL, ZIP 62990 trails on several market indicators that neighboring Alexander County submarkets outperform. The gap is real and sturdy enough to shape underwriting.
Employment concentration in 62990 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
New investors are better served looking at Thebes's stable or hybrid ZIPs before stepping into 62990. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Thebes:
Market Trends
Home Value History (with trend line)
📊 How Does 62990 Compare?
| Metric | 62990 | Thebes | Cape Girardeau, MO-IL | Illinois |
|---|---|---|---|---|
| Home Value | $126,731 | $102,488 | N/A | $279,761 |
| 5-Year CAGR | N/A | N/A | N/A | 6.6% |
| Avg Rent | $828 | $887 | N/A | - |
| Cap Rate | 5.1% | 7.3% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 62990 (Thebes, IL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $126,731 |
| Monthly Rent | $828 |
| Price-to-Rent | 12.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.8% |
| Cap Rate | 5.1% |
| 5-Year IRR | 2.5% |
📈 Home Appreciation
| 1-Year | +6.3% ▲ |
| 3-Year CAGR | -2.4% ▼ |
| 5-Year CAGR | -2.6% ▼ |
| 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 (5.1%). 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 62990
Population: 1,044
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
🎓 Nearby Colleges & Universities
Investor Insight: With 977 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What strategy should investors use in Thebes, IL?
Investors usually favor careful cash-flow rentals with hands-on management in Thebes, IL. With home values at $127K and rents near $828/mo, other strategies can work but produce predictable rather than outsized returns.
What are rental rates like in Thebes, IL?
Rental rates in Thebes, IL average $828/mo. Tenant demand and $127K home values make the yield look reasonable by investor standards.
Are tenants stable in Thebes, IL?
Thebes, IL draws a even-keeled base of working renters. Demand at the $828/mo rent level is reasonable for standard single-family and small multi rentals.
Is Thebes, IL suited for a house hack?
For house hackers, Thebes, IL is a challenging. The $828/mo rent on a unit helps defray the mortgage on a $127K property.
What are vacancy rates like in Thebes, IL?
Vacancy in Thebes, IL is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $828/mo.
You know 62990 now. You don’t know where it ranks.
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How 62990 ranks in Cape Girardeau, MO-IL
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