314 W 4th St · Alton, IL 62002

$95,000

2 bd · 1.0 ba · 782 sqft · MultiFamily public records · 501 Days on market

Built 1891 4,818 sqft lot $121/sqft · 25% above area Est $139k · 31% 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
• Rent growth +4.6/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Investment opportunity duplex located in the heart of Christian Hill within walking distance of downtown Alton. Detached 1-car garage. Small courtyard in back, bordered on two sides with original stone walls. Roof and siding have been replaced. Newer water heaters, furnaces, 100 amp breaker boxes, and PexA plumbing. Two separate electric meters, one water meter. The upper unit features 1 bedrooom, 1 bathroom, washer/dryer hookups, front and back balconies, some hardwood flooring, fresh paint, and a year round river view. The main floor features 2 bedrooms, 1 bath, and washer/dryer hookups. Duplex is fully electric. March 2026 - Seller had sewer line cleaned and was provided with a good bill of health report.

Key facts

• Newer water heaters
• Original stone walls
• Newer furnaces

Tags

• DETACHED GARAGE
• SMALL COURTYARD
• ORIGINAL STONE WALLS
• NEWER WATER HEATERS
• NEWER FURNACES
• 100 AMP BREAKER BOXES

What this means for you Summary

Snapshot

• This is a 2 × 1-bed/1.0-bath units multifamily listed at $95k.

Deal economics

• At list price, monthly cash flow is $563 ($7k/yr) — positive. Per door: $281/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• Recommended offer: $84k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.4% vs local median 6.4% in Alton — 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 64/100 on livability (#701 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: health & safety C-, crime F, amenities D-.
• Alton CUSD 11 (suburban): math 12% / reading 13% proficiency, ranked #544 of 620 in IL (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: West Elementary School (math 7% / reading 9%, grade F, #1,621 of 2,056 statewide, top 79%, 400 students, 0% FRL); Alton Middle School (math 10% / reading 11%, grade F, #580 of 665 statewide, top 88%, 1,241 students, 0% FRL); Alton High School (math 20% / reading 25%, grade F, #317 of 693 statewide, top 46%, 1,990 students, 0% FRL) — zoned schools average 0% FRL vs 60% district-wide (60 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+8.2%/yr); 169 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $657 of loan paydown is wiped out by about $3k 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 + 8.0% rent growth), your $27k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 501 days — a 12% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts; this cycle's ask has dropped $45k (32%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $27k; list at $95k implies a 252% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1891 — 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 $83,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 501 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1891 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.75% ✓
• Cap rate: 13.40%
• Cash-on-cash: 25.39%
• DSCR: 2.13
• GRM: 4.8

CMA / ARV

• ARV (median comp): $138,652
• List price: $95,000
• Delta: -31.48%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 24.9%
• Equity multiple: 2.10×
• Total profit: $29,314
• Equity at exit: $14,165

10-year hold

• IRR: 35.9%
• Equity multiple: 5.21×
• Total profit: $111,972
• Equity at exit: $8,214

Cash invested: $26,600 (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 62002

• Home prices YoY: -33.6%
• Rents YoY: 8.2%
• Active inventory: 169
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,661 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$212 /mo · $2,539/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$349
• Net cashflow: $563

Break-even live

Break-even rent $949

Max offer price $95,000

Occupancy floor 61%

Sensitivity live

Price	-10% $617	-5% $590	+0% $563	+5% $536	+10% $509
Rent	-10% $432	-5% $497	+0% $563	+5% $628	+10% $694
Rate	-1.0pp $611	-0.5pp $587	base $563	+0.5pp $538	+1.0pp $513

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$1,662
Total (2 units)			$1,661

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1128 W 9th St Alton, IL	1.0	1.0	815	$800	$0.98	45d	1	0.53mi
1110 George St Alton, IL	2.0	1.0	780	$1,019	$1.31	45d	1	0.62mi
504 Cherry St Alton, IL	2.0	1.0	1000	$895	$0.90	45d	1	1.09mi

Listing history 15 events

1. 2026-06-02
   status $95,000 Pending 501 DOM
2. 2026-06-01
   days on market $95,000 Active 501 DOM
3. 2026-05-31
   days on market $95,000 Active 500 DOM
4. 2026-03-31
   status Active 717-char remark

   Show marketing remark (717 chars)

   Investment opportunity duplex located in the heart of Christian Hill within walking distance of downtown Alton. Detached 1-car garage. Small courtyard in back, bordered on two sides with original stone walls. Roof and siding have been replaced. Newer water heaters, furnaces, 100 amp breaker boxes, and PexA plumbing. Two separate electric meters, one water meter. The upper unit features 1 bedrooom, 1 bathroom, washer/dryer hookups, front and back balconies, some hardwood flooring, fresh paint, and a year round river view. The main floor features 2 bedrooms, 1 bath, and washer/dryer hookups. Duplex is fully electric. March 2026 - Seller had sewer line cleaned and was provided with a good bill of health report.

5. 2026-03-31
   price $95,000 717-char remark

   Show marketing remark (717 chars)

   Investment opportunity duplex located in the heart of Christian Hill within walking distance of downtown Alton. Detached 1-car garage. Small courtyard in back, bordered on two sides with original stone walls. Roof and siding have been replaced. Newer water heaters, furnaces, 100 amp breaker boxes, and PexA plumbing. Two separate electric meters, one water meter. The upper unit features 1 bedrooom, 1 bathroom, washer/dryer hookups, front and back balconies, some hardwood flooring, fresh paint, and a year round river view. The main floor features 2 bedrooms, 1 bath, and washer/dryer hookups. Duplex is fully electric. March 2026 - Seller had sewer line cleaned and was provided with a good bill of health report.

6. 2026-02-22
   historical Active Under Contract 717-char remark

   Show marketing remark (717 chars)

   Investment opportunity duplex located in the heart of Christian Hill within walking distance of downtown Alton. Detached 1-car garage. Small courtyard in back, bordered on two sides with original stone walls. Roof and siding have been replaced. Newer water heaters, furnaces, 100 amp breaker boxes, and PexA plumbing. Two separate electric meters, one water meter. The upper unit features 1 bedrooom, 1 bathroom, washer/dryer hookups, front and back balconies, some hardwood flooring, fresh paint, and a year round river view. The main floor features 2 bedrooms, 1 bath, and washer/dryer hookups. Duplex is fully electric. March 2026 - Seller had sewer line cleaned and was provided with a good bill of health report.

7. 2025-10-06
   status Active 717-char remark

   Show marketing remark (717 chars)

   Investment opportunity duplex located in the heart of Christian Hill within walking distance of downtown Alton. Detached 1-car garage. Small courtyard in back, bordered on two sides with original stone walls. Roof and siding have been replaced. Newer water heaters, furnaces, 100 amp breaker boxes, and PexA plumbing. Two separate electric meters, one water meter. The upper unit features 1 bedrooom, 1 bathroom, washer/dryer hookups, front and back balconies, some hardwood flooring, fresh paint, and a year round river view. The main floor features 2 bedrooms, 1 bath, and washer/dryer hookups. Duplex is fully electric. March 2026 - Seller had sewer line cleaned and was provided with a good bill of health report.

8. 2025-08-26
   historical Active Under Contract 717-char remark

   Show marketing remark (717 chars)

   Investment opportunity duplex located in the heart of Christian Hill within walking distance of downtown Alton. Detached 1-car garage. Small courtyard in back, bordered on two sides with original stone walls. Roof and siding have been replaced. Newer water heaters, furnaces, 100 amp breaker boxes, and PexA plumbing. Two separate electric meters, one water meter. The upper unit features 1 bedrooom, 1 bathroom, washer/dryer hookups, front and back balconies, some hardwood flooring, fresh paint, and a year round river view. The main floor features 2 bedrooms, 1 bath, and washer/dryer hookups. Duplex is fully electric. March 2026 - Seller had sewer line cleaned and was provided with a good bill of health report.

9. 2025-07-14
   status Active 717-char remark

   Show marketing remark (717 chars)

   Investment opportunity duplex located in the heart of Christian Hill within walking distance of downtown Alton. Detached 1-car garage. Small courtyard in back, bordered on two sides with original stone walls. Roof and siding have been replaced. Newer water heaters, furnaces, 100 amp breaker boxes, and PexA plumbing. Two separate electric meters, one water meter. The upper unit features 1 bedrooom, 1 bathroom, washer/dryer hookups, front and back balconies, some hardwood flooring, fresh paint, and a year round river view. The main floor features 2 bedrooms, 1 bath, and washer/dryer hookups. Duplex is fully electric. March 2026 - Seller had sewer line cleaned and was provided with a good bill of health report.

10. 2025-06-30
    price $110,000 717-char remark

    Show marketing remark (717 chars)

    Investment opportunity duplex located in the heart of Christian Hill within walking distance of downtown Alton. Detached 1-car garage. Small courtyard in back, bordered on two sides with original stone walls. Roof and siding have been replaced. Newer water heaters, furnaces, 100 amp breaker boxes, and PexA plumbing. Two separate electric meters, one water meter. The upper unit features 1 bedrooom, 1 bathroom, washer/dryer hookups, front and back balconies, some hardwood flooring, fresh paint, and a year round river view. The main floor features 2 bedrooms, 1 bath, and washer/dryer hookups. Duplex is fully electric. March 2026 - Seller had sewer line cleaned and was provided with a good bill of health report.

11. 2025-03-19
    status Active 717-char remark

    Show marketing remark (717 chars)

    Investment opportunity duplex located in the heart of Christian Hill within walking distance of downtown Alton. Detached 1-car garage. Small courtyard in back, bordered on two sides with original stone walls. Roof and siding have been replaced. Newer water heaters, furnaces, 100 amp breaker boxes, and PexA plumbing. Two separate electric meters, one water meter. The upper unit features 1 bedrooom, 1 bathroom, washer/dryer hookups, front and back balconies, some hardwood flooring, fresh paint, and a year round river view. The main floor features 2 bedrooms, 1 bath, and washer/dryer hookups. Duplex is fully electric. March 2026 - Seller had sewer line cleaned and was provided with a good bill of health report.

12. 2025-03-17
    historical Active Under Contract 717-char remark

    Show marketing remark (717 chars)

    Investment opportunity duplex located in the heart of Christian Hill within walking distance of downtown Alton. Detached 1-car garage. Small courtyard in back, bordered on two sides with original stone walls. Roof and siding have been replaced. Newer water heaters, furnaces, 100 amp breaker boxes, and PexA plumbing. Two separate electric meters, one water meter. The upper unit features 1 bedrooom, 1 bathroom, washer/dryer hookups, front and back balconies, some hardwood flooring, fresh paint, and a year round river view. The main floor features 2 bedrooms, 1 bath, and washer/dryer hookups. Duplex is fully electric. March 2026 - Seller had sewer line cleaned and was provided with a good bill of health report.

13. 2025-02-06
    price $120,000 717-char remark

    Show marketing remark (717 chars)

    Investment opportunity duplex located in the heart of Christian Hill within walking distance of downtown Alton. Detached 1-car garage. Small courtyard in back, bordered on two sides with original stone walls. Roof and siding have been replaced. Newer water heaters, furnaces, 100 amp breaker boxes, and PexA plumbing. Two separate electric meters, one water meter. The upper unit features 1 bedrooom, 1 bathroom, washer/dryer hookups, front and back balconies, some hardwood flooring, fresh paint, and a year round river view. The main floor features 2 bedrooms, 1 bath, and washer/dryer hookups. Duplex is fully electric. March 2026 - Seller had sewer line cleaned and was provided with a good bill of health report.

14. 2025-01-02
    listed $139,900 Active 717-char remark

    Show marketing remark (717 chars)

    Investment opportunity duplex located in the heart of Christian Hill within walking distance of downtown Alton. Detached 1-car garage. Small courtyard in back, bordered on two sides with original stone walls. Roof and siding have been replaced. Newer water heaters, furnaces, 100 amp breaker boxes, and PexA plumbing. Two separate electric meters, one water meter. The upper unit features 1 bedrooom, 1 bathroom, washer/dryer hookups, front and back balconies, some hardwood flooring, fresh paint, and a year round river view. The main floor features 2 bedrooms, 1 bath, and washer/dryer hookups. Duplex is fully electric. March 2026 - Seller had sewer line cleaned and was provided with a good bill of health report.

15. 1989-12-01
    soldstatus $27,000

ⓘ 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: $2,539 · $212/mo
• Projected year-2 tax: $2,539 · $212/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 5/10 Major 7 d/yr ≥107°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,932
• − Mortgage interest: −$5,321
• − Property taxes: −$2,539
• − Insurance: −$475
• − Repairs & maintenance: −$1,595
• − Management: −$1,595
• − Depreciation: −$2,764
• Taxable income: $5,644
• Est. tax owed @ 24.0%: −$1,355
• After-tax cash flow: $5,400/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: Alton CUSD 11
• NCES district ID: 1703600
• Math proficiency: 12% ▼ -10.00%
• Reading proficiency: 13% ▼ -10.00%
• Median HH income: $46,257
• Composite: 11.34/100
• National rank: #9710
• State rank: #544 of 620 in IL

Livability — Alton

• Score: 64/100
• State rank: #701
• US rank: #14289

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Alton, IL
• County: Madison County · 189,064 people
• City population: 29,543
• Metro: St. Louis, MO-IL
• Population (ZIP): 29,543
• Household income: $61,414
• Rent vs Own: 34.3% rent · 65.7% own
• Severe rent burden: 960.0

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 (71%)
• Race & ethnicity: White 71% Black 20% Two or more races 6% Hispanic / Latino 2% Asian 1%
• Common ancestry: Romanian 2% Lithuanian 2% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Indo-European 1%

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: ▼ -98.43%
• Current HPI: 194.7313
• Rent YoY: ▲ 8.24%
• 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

+251.9% since first listed

12 events — show timeline

• 2026-03-31 Relisted — MARIS as Distributed by MLS Grid
• 2026-03-31 Price Changed $95,000 MARIS as Distributed by MLS Grid
• 2026-02-22 Contingent — MARIS as Distributed by MLS Grid
• 2025-10-06 Relisted — MARIS as Distributed by MLS Grid
• 2025-08-26 Contingent — MARIS as Distributed by MLS Grid
• 2025-07-14 Relisted — MARIS as Distributed by MLS Grid
• 2025-06-30 Price Changed $110,000 MARIS as Distributed by MLS Grid
• 2025-03-19 Relisted — MARIS as Distributed by MLS Grid
• 2025-03-17 Contingent — MARIS as Distributed by MLS Grid
• 2025-02-06 Price Changed $120,000 MARIS as Distributed by MLS Grid
• 2025-01-02 Listed $139,900 MARIS as Distributed by MLS Grid
• 1989-12-01 Sold (Public Records) $27,000 Public Records

Property tax history

+3.7%/yr

Latest (2024): $2,539 · +6.4% YoY. Source: county tax records.