1541 Garfield Ave · Granite City, IL 62040

$120,000

3 bd · 1.0 ba · 1,040 sqft · SingleFamily public records · 9 Days on market

Built 1949 Est $133k · 10% under

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Why this score? — see what drove the C- 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 +20.6/30.0
• ARV discount +11.9/15.0
• DSCR +6.5/10.0
• 1% rule +5.7/10.0
• 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

Great Starter Home. 2 Bed, 1 Bath. Large Dining/Family room. Full unfished basement with sump pump. Huge garage, with attached screened in porch/man cave/lady& apos; s retreat. Covered walkway to garage and screened in porch. Washer in Dryer in basement to stay. Kitchen appliances to stay, currently has a washer/dryer combo in kitchen (can be removed and cabinet put back in place. )

Key facts

• Built 1949
• Listed 9 days

Tags

• LARGE DINING FAMILY ROOM
• FULL UNFINISHED BASEMENT
• ATTACHED SCREENED IN PORCH
• COVERED WALKWAY TO GARAGE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $159 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).

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; 5 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 $830 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

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1949 — 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 $120,000

Questions for the listing agent

1. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.07% ✓
• Cap rate: 7.89%
• Cash-on-cash: 5.69%
• DSCR: 1.25
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $133,120
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1511 Cottage Ave	0.09mi	2/1.0 (-1)	1,019 (-2%)	4mo	$130,000	$128	84
1517 Garfield Ave	0.06mi	2/1.0 (-1)	1,084 (+4%)	3mo	$129,900	$120	82
2030 Pontoon Rd	0.45mi	3/1.0	1,040 (0%)	4mo	$164,900	$159	76
1737 Moro Ave	0.34mi	2/1.0 (-1)	1,016 (-2%)	4mo	$125,000	$123	72
1745 Venice Ave	0.40mi	2/1.0 (-1)	1,044 (+0%)	4mo	$106,500	$102	72
3308 Colgate Pl	0.50mi	3/2.0	1,080 (+4%)	1mo	$155,000	$144	66
1420 Norwood Dr	0.59mi	3/1.0	1,128 (+8%)	1mo	$109,900	$97	57
3149 Myrtle Ave	0.59mi	3/1.0	960 (-8%)	3mo	$135,000	$141	57
2012 Clark Ave	0.38mi	3/1.0	903 (-13%)	4mo	$139,900	$155	57
3144 Colgate Pl	0.69mi	3/1.5	988 (-5%)	4mo	$179,000	$181	54
3127 Wayne Ave	0.61mi	2/1.0 (-1)	1,150 (+11%)	1mo	$125,000	$109	48
3119 Rodger Ave	0.70mi	2/1.0 (-1)	1,150 (+11%)	5mo	$115,000	$100	41

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: -9.0%
• Equity multiple: 0.67×
• Total profit: $-10,954
• Equity at exit: $17,892

10-year hold

• IRR: -1.4%
• Equity multiple: 0.91×
• Total profit: $-3,095
• Equity at exit: $10,375

Cash invested: $33,600 (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: 7.8×

Monthly cashflow live

• Estimated rent: $1,282 high
• Mortgage (P&I): −$629
• Tax from tax record: −$174 /mo · $2,089/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $159

Break-even live

Break-even rent $1,080

Max offer price $120,000

Occupancy floor 83%

Sensitivity live

Price	-10% $227	-5% $193	+0% $159	+5% $125	+10% $91
Rent	-10% $58	-5% $109	+0% $159	+5% $210	+10% $261
Rate	-1.0pp $220	-0.5pp $190	base $159	+0.5pp $128	+1.0pp $97

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4404 Wabash Ave Granite City, IL	2.0	1.0	864	$1,025	$1.19	3d	1	0.68mi
303 Wilson Park Ln Granite City, IL	3.0	1.0	900	$1,200	$1.33	8d	1	0.71mi
2715 Center St Unit B Granite City, IL	2.0	1.0	930	$1,275	$1.37	44d	1	1.18mi
2415 Jerden Ave Granite City, IL	3.0	1.0	970	$1,400	$1.44	5d	1	1.44mi
2556 Center St Granite City, IL	3.0	1.0	874	$1,500	$1.72	15d	1	1.46mi

Listing history 8 events

1. 2026-06-18
   days on market $120,000 Active 9 DOM
2. 2026-06-17
   days on market $120,000 Active 8 DOM
3. 2026-06-16
   days on market $120,000 Active 7 DOM
4. 2026-06-15
   days on market $120,000 Active 6 DOM
5. 2026-06-13
   days on market $120,000 Active 4 DOM
6. 2026-06-13
   days on market $120,000 Active 3 DOM
7. 2026-06-10
   remarks 385-char remark
8. 2026-06-10
   listed $120,000 Active 1 DOM

ⓘ 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: $2,089 · $174/mo
• Projected year-2 tax: $2,406 · $201/mo
• Expected delta: +$318/yr (+$26/mo · 15.2%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 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: $15,383
• − Mortgage interest: −$6,722
• − Property taxes: −$2,089
• − Insurance: −$600
• − Repairs & maintenance: −$1,231
• − Management: −$1,231
• − Depreciation: −$3,491
• Taxable income: $20
• Est. tax owed @ 24.0%: −$5
• After-tax cash flow: $1,908/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

1 event — show timeline

• 2026-06-10 Listed $120,000 FSBO.com

Property tax history

+15.3%/yr

Latest (2024): $2,089 · +4.4% YoY. Source: county tax records.