2614 Madison Ave · Granite City, IL 62040

$70,000

4 bd · 1.0 ba · 768 sqft · SingleFamily public records · 69 Days on market

Built 1924 4,800 sqft lot $91/sqft · at area comps Est $99k · 29% under

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Why this score? — see what drove the B 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.2/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This home is zoned commercial or residential and has so much potential. Great investment opportunity. Home has 4 bedrooms and a full basement. Being sold as is. Home was a current rental property. Buyers and buyers agent to verify all information including zoning.

Key facts

• Zoned residential
• Full basement
• Zoned commercial

Tags

• ZONED COMMERCIAL
• ZONED RESIDENTIAL
• INVESTMENT OPPORTUNITY
• FULL BASEMENT
• CURRENT RENTAL PROPERTY

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $626 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $66k (6.0% below list) — sets the bar for market timing.
• Cap rate 17.0% vs local median 7.0% in Granite City — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

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; 3 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 $484 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 1.7% rent growth), your $20k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $48k; 46% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1924 — 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 $65,800 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1924 — 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. 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.
8. 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.
9. 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: 2.11% ✓
• Cap rate: 17.03%
• Cash-on-cash: 38.33%
• DSCR: 2.71
• GRM: 4.0

CMA / ARV

• ARV (median comp): $99,280
• List price: $70,000
• Delta: -29.49%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2205 E 24th St	0.40mi	3/1.0 (-1)	736 (-4%)	5mo	$12,000	$16	65
2532 E 27th St	0.27mi	3/1.0 (-1)	720 (-6%)	9mo	$60,000	$83	64
2564 Benton St	0.38mi	3/1.0 (-1)	870 (+13%)	6mo	$108,000	$124	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: 32.9%
• Equity multiple: 2.36×
• Total profit: $26,639
• Equity at exit: $10,437

10-year hold

• IRR: 39.1%
• Equity multiple: 4.42×
• Total profit: $66,984
• Equity at exit: $6,052

Cash invested: $19,600 (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: 4.0×

Monthly cashflow live

• Estimated rent: $1,476 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$144 /mo · $1,729/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$310
• Net cashflow: $626

Break-even live

Break-even rent $684

Max offer price $70,000

Occupancy floor 53%

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2415 Jerden Ave Granite City, IL	3.0	1.0	970	$1,400	$1.44	4d	1	0.15mi
2556 Center St Granite City, IL	3.0	1.0	874	$1,500	$1.72	14d	1	0.51mi
303 Wilson Park Ln Granite City, IL	3.0	1.0	900	$1,200	$1.33	7d	1	0.93mi

Listing history 17 events

1. 2026-06-18
   days on market $70,000 Active 69 DOM
2. 2026-06-17
   days on market $70,000 Active 68 DOM
3. 2026-06-16
   days on market $70,000 Active 67 DOM
4. 2026-06-15
   days on market $70,000 Active 66 DOM
5. 2026-06-13
   days on market $70,000 Active 64 DOM
6. 2026-06-13
   days on market $70,000 Active 63 DOM
7. 2026-06-09
   days on market $70,000 Active 60 DOM
8. 2026-06-08
   days on market $70,000 Active 59 DOM
9. 2026-06-07
   days on market $70,000 Active 58 DOM
10. 2026-06-05
    days on market $70,000 Active 55 DOM
11. 2026-06-03
    days on market $70,000 Active 54 DOM
12. 2026-06-02
    days on market $70,000 Active 53 DOM
13. 2026-06-01
    days on market $70,000 Active 52 DOM
14. 2026-05-31
    days on market $70,000 Active 51 DOM
15. 2026-04-10
    listed $70,000 Active 264-char remark

    Show marketing remark (264 chars)

    This home is zoned commercial or residential and has so much potential. Great investment opportunity. Home has 4 bedrooms and a full basement. Being sold as is. Home was a current rental property. Buyers and buyers agent to verify all information including zoning.

16. 2003-02-28
    soldstatus $48,000
17. 1989-09-06
    soldstatus $22,330

ⓘ 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: $1,729 · $144/mo
• Projected year-2 tax: $1,729 · $144/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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: $17,718
• − Mortgage interest: −$3,921
• − Property taxes: −$1,729
• − Insurance: −$350
• − Repairs & maintenance: −$1,417
• − Management: −$1,417
• − Depreciation: −$2,036
• Taxable income: $6,846
• Est. tax owed @ 24.0%: −$1,643
• After-tax cash flow: $5,870/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

+213.5% since first listed

3 events — show timeline

• 2026-04-10 Listed $70,000 MARIS as Distributed by MLS Grid
• 2003-02-28 Sold (Public Records) $48,000 Public Records
• 1989-09-06 Sold (Public Records) $22,330 Public Records

Property tax history

+7.8%/yr

Latest (2024): $1,729 · +1.6% YoY. Source: county tax records.