3001 Madison Ave · Granite City, IL 62040

$118,500

3 bd · 1.0 ba · 936 sqft · SingleFamily · 125 Days on market

Built 1951 4,800 sqft lot $127/sqft · 18% above area Est $101k · 18% over

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +19.6/30.0
• DSCR +6.2/10.0
• 1% rule +5.6/10.0
• Livability +3.2/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful 3 bedroom. Home has passed all city inspection within the last year. Home will be freshly painted before closing and garage door will also be replaced. New flooring throughout and many updates. New roof 2024. Cover front porch and large back deck. Nice home for the price. Home could be residential or possible a commercial. Buyers and buyer's agent to confirm all information. This home is broker owned

Key facts

• New flooring
• Front porch
• Freshly painted

Tags

• FAMILY ROOM
• FRESHLY PAINTED
• NEW FLOORING
• NEW ROOF
• FRONT PORCH
• BACK DECK

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $118k.

Deal economics

• At list price, monthly cash flow is $136 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $118k).
• Recommended offer: $104k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#623 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools F, crime F, amenities F.
• Granite City CUSD 9 (suburban): math 9% / reading 11% proficiency, ranked #570 of 620 in IL (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+1.7%/yr); 194 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); 336 units permitted in Madison County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $819 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Madison County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 125 days — a 12% lower offer ($104k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $82k; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $104,280 (12.0% below list)

Questions for the listing agent

1. It's been on market 125 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.06% ✓
• Cap rate: 7.67%
• Cash-on-cash: 4.93%
• DSCR: 1.22
• GRM: 7.9

CMA / ARV

• ARV (median comp): $100,707
• List price: $118,500
• Delta: 17.67%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2900 Iowa St	0.19mi	2/1.0 (-1)	936 (0%)	0mo	$114,900	$123	86
3149 Myrtle Ave	0.28mi	3/1.0	960 (+3%)	3mo	$135,000	$141	80
2823 Marshall Ave	0.43mi	3/1.0	888 (-5%)	3mo	$49,900	$56	69
2968 Oregon Ave	0.45mi	2/1.0 (-1)	951 (+2%)	3mo	$129,900	$137	69
200 Wilson Park Ln	0.58mi	3/1.0	900 (-4%)	1mo	$145,000	$161	65
2653 Grand Ave	0.56mi	2/1.0 (-1)	954 (+2%)	1mo	$142,000	$149	64
1917 Joy Ave	0.50mi	3/1.0	875 (-6%)	1mo	$118,900	$136	64
122 Wilson Park Ln	0.59mi	3/1.0	900 (-4%)	3mo	$110,000	$122	64
2535 E 28th St	0.38mi	3/2.0	1,013 (+8%)	2mo	$85,000	$84	63
2807 Iowa St	0.33mi	2/1.0 (-1)	848 (-9%)	2mo	$69,500	$82	63
1904 Joy Ave	0.47mi	2/1.0 (-1)	875 (-6%)	0mo	$79,900	$91	62
14 Wilson Park Dr	0.52mi	2/1.0 (-1)	825 (-12%)	1mo	$50,000	$61	50

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 1.67% rent growth · sell at horizon

5-year hold

• IRR: -10.2%
• Equity multiple: 0.63×
• Total profit: $-12,136
• Equity at exit: $17,669

10-year hold

• IRR: -2.8%
• Equity multiple: 0.82×
• Total profit: $-5,840
• Equity at exit: $10,246

Cash invested: $33,180 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 43 Moderately Tenant-Leaning
• State Illinois: 43 Moderately Tenant-Leaning · D+7
• County: — inherits STATE
• City: — inherits STATE

Chicago RTLO is among the strongest tenant ordinances in the Midwest; downstate is more landlord-friendly.

Methodology + full state rankings →

ZIP-level market 62040

• Home prices YoY: -21.8%
• Rents YoY: 1.7%
• Active inventory: 194
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,254 high
• Mortgage (P&I): −$621
• Tax from tax record: −$183 /mo · $2,200/yr
• Insurance: −$49
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $136

Break-even live

Break-even rent $1,081

Max offer price $118,500

Occupancy floor 84%

Sensitivity live

Price	-10% $203	-5% $170	+0% $136	+5% $103	+10% $69
Rent	-10% $37	-5% $87	+0% $136	+5% $186	+10% $235
Rate	-1.0pp $196	-0.5pp $166	base $136	+0.5pp $106	+1.0pp $74

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $29,625
• Closing costs: $3,555
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
303 Wilson Park Ln Granite City, IL	3.0	1.0	900	$1,200	$1.33	8d	1	0.58mi
2415 Jerden Ave Granite City, IL	3.0	1.0	970	$1,400	$1.44	5d	1	0.64mi
2715 Center St Unit B Granite City, IL	2.0	1.0	930	$1,275	$1.37	44d	1	0.65mi
2556 Center St Granite City, IL	3.0	1.0	874	$1,500	$1.72	15d	1	0.84mi
2450 Cleveland Blvd Apt A Granite City, IL	2.0	1.0	846	$825	$0.98	18d	1	0.94mi
2317 Grand Ave Granite City, IL	2.0	1.0	1124	$750	$0.67	8d	1	1.12mi
4404 Wabash Ave Granite City, IL	2.0	1.0	864	$1,025	$1.19	3d	1	1.47mi

Listing history 19 events

1. 2026-06-18
   days on market $118,500 Active 125 DOM
2. 2026-06-17
   days on market $118,500 Active 124 DOM
3. 2026-06-16
   days on market $118,500 Active 123 DOM
4. 2026-06-15
   days on market $118,500 Active 122 DOM
5. 2026-06-13
   days on market $118,500 Active 120 DOM
6. 2026-06-13
   days on market $118,500 Active 119 DOM
7. 2026-06-09
   days on market $118,500 Active 116 DOM
8. 2026-06-08
   days on market $118,500 Active 115 DOM
9. 2026-06-07
   days on market $118,500 Active 114 DOM
10. 2026-06-05
    days on market $118,500 Active 111 DOM
11. 2026-06-03
    days on market $118,500 Active 110 DOM
12. 2026-06-02
    days on market $118,500 Active 109 DOM
13. 2026-06-01
    days on market $118,500 Active 108 DOM
14. 2026-05-31
    days on market $118,500 Active 107 DOM
15. 2026-04-20
    price $118,500 414-char remark

    Show marketing remark (414 chars)

    Beautiful 3 bedroom. Home has passed all city inspection within the last year. Home will be freshly painted before closing and garage door will also be replaced. New flooring throughout and many updates. New roof 2024. Cover front porch and large back deck. Nice home for the price. Home could be residential or possible a commercial. Buyers and buyer's agent to confirm all information. This home is broker owned

16. 2026-03-28
    price $120,000 414-char remark

    Show marketing remark (414 chars)

    Beautiful 3 bedroom. Home has passed all city inspection within the last year. Home will be freshly painted before closing and garage door will also be replaced. New flooring throughout and many updates. New roof 2024. Cover front porch and large back deck. Nice home for the price. Home could be residential or possible a commercial. Buyers and buyer's agent to confirm all information. This home is broker owned

17. 2026-03-10
    price $125,000 414-char remark

    Show marketing remark (414 chars)

    Beautiful 3 bedroom. Home has passed all city inspection within the last year. Home will be freshly painted before closing and garage door will also be replaced. New flooring throughout and many updates. New roof 2024. Cover front porch and large back deck. Nice home for the price. Home could be residential or possible a commercial. Buyers and buyer's agent to confirm all information. This home is broker owned

18. 2026-02-13
    listed $130,000 Active 414-char remark

    Show marketing remark (414 chars)

    Beautiful 3 bedroom. Home has passed all city inspection within the last year. Home will be freshly painted before closing and garage door will also be replaced. New flooring throughout and many updates. New roof 2024. Cover front porch and large back deck. Nice home for the price. Home could be residential or possible a commercial. Buyers and buyer's agent to confirm all information. This home is broker owned

19. 2006-09-08
    soldstatus $81,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast IL · Partial reset (capped growth)

• Current annual tax: $2,200 · $183/mo
• Projected year-2 tax: $2,445 · $204/mo
• Expected delta: +$245/yr (+$20/mo · 11.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,044
• − Mortgage interest: −$6,638
• − Property taxes: −$2,200
• − Insurance: −$592
• − Repairs & maintenance: −$1,204
• − Management: −$1,204
• − Depreciation: −$3,447
• Taxable loss: −$240
• Est. tax savings @ 24.0%: +$58
• After-tax cash flow: $1,693/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Granite City CUSD 9
• NCES district ID: 1717280
• Math proficiency: 9% ▼ -4.00%
• Reading proficiency: 11% ▼ -7.00%
• Median HH income: $45,082
• Composite: 9.15/100
• National rank: #9864
• State rank: #570 of 620 in IL

Livability — Granite City

• Score: 65/100
• State rank: #623
• US rank: #12751

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment C Housing A+ Health & safety C User ratings B+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Granite City, IL
• County: Madison County · 189,064 people
• City population: 40,404
• Metro: St. Louis, MO-IL
• Population (ZIP): 40,404
• Household income: $60,031
• Rent vs Own: 25.0% rent · 75.0% own
• Severe rent burden: 923.0

Population outlook (Madison County) Hauer SSP2

• Today (2025): 258,371 people
• By 2030: 251,523 · -2.7%
• By 2040: 233,640 · -9.6%
• By 2050: 213,042 · -17.5%
• By 2075: 165,255 · -36.0%
• By 2100: 123,953 · -52.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 9% Black 9% Two or more races 7% Asian 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Romanian 2% Lithuanian 2% Serbian 2%
• Foreign-born: 3% · Canada, Vietnam
• Languages at home: 93% English-only · Spanish 5%

Political lean MEDSL · Madison

• 2024 margin: R (+13.3) · D 42.5% · R 55.8% · Other 1.8%
• 2008→2024 swing: -22.5pp toward R · 2008: 9.2pp · 2024: -13.3pp
• All cycles: 2024: R+13.3 2020: R+13.2 2016: R+15.6 2012: R+1.4 2008: D+9.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -56.88%
• Current HPI: 204.4612
• Rent YoY: ▲ 1.67%
• Metro: St. Louis, MO-IL
• State GDP YoY: ▲ 1.59%
• F500 in state: 60

Industry mix (Fortune 500 HQ in IL)

Industry	F500 HQs	Revenue
▸Insurance	4	$201B
▸Consumer Goods	4	$87B
▸Industrial Machinery	3	$64B
▸Healthcare	2	$55B
▸Retail / Pharmacy	1	$148B
▸Agriculture / Food	1	$86B

Price history

+45.4% since first listed

5 events — show timeline

• 2026-04-20 Price Changed $118,500 MARIS as Distributed by MLS Grid
• 2026-03-28 Price Changed $120,000 MARIS as Distributed by MLS Grid
• 2026-03-10 Price Changed $125,000 MARIS as Distributed by MLS Grid
• 2026-02-13 Listed $130,000 MARIS as Distributed by MLS Grid
• 2006-09-08 Sold (Public Records) $81,500 Public Records

Property tax history

+6.3%/yr

Latest (2024): $2,200 · +1.5% YoY. Source: county tax records.