226 E 5th St · Alton, IL 62002

$125,000

2 bd · 1.0 ba · 1,186 sqft · MultiFamily public records · 20 Days on market

Built 1891 0.30 ac lot Est $113k · 11% over

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Why this score? — see what drove the F 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 +7.7/30.0
• Rent growth +4.6/5.0
• Livability +3.2/5.0
• 1% rule +2.8/10.0
• ARV discount +2.6/15.0
• Condition / age +2.5/5.0
• DSCR +1.8/10.0
• 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: 1 unit. estimate disagrees with records

Listing remarks

Opportunity awaits with this charming 2-story home located in the heart of Historic Alton. Whether you're looking for a spacious single-family residence or an investment opportunity as a 2-unit apartment, the possibilities here are endless. Enjoy breathtaking views of the mighty Mississippi River right from your property while being conveniently located within walking distance to local schools and just minutes from downtown Alton’s dining, shopping, and entertainment. With character, location, and versatility, this property is full of potential for homeowners and investors alike.

Key facts

• Historic alton
• Breathtaking views
• Mississippi river

Tags

• HISTORIC ALTON
• BREATHTAKING VIEWS
• MISSISSIPPI RIVER
• MINUTES FROM DOWNTOWN ALTON

Property features AI

Finance

• Financial info: Lease not considered

Exterior

• Utilities: Public water; Public sewer; Electric service by Ameren; Cable available
• Home design: Single-family residence; Two levels
• Construction: Aluminum siding; Architectural shingle roof
• Exterior features: Back yard; Adjoins wooded area; Level lot

Interior

• Bedrooms: 4 bedrooms total; 1 bedroom on the main level; 3 bedrooms on the upper level
• Bathrooms: 3 full bathrooms total; 1 full bathroom on the main level; 2 full bathrooms on the upper level
• Interior features: Full, unfinished basement; Two fireplaces (living room and bedroom); Ceiling fans throughout; Central air conditioning; Forced air heating

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath multifamily listed at $125k.

Deal economics

• At list price, monthly cash flow is $-145 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $99k (20.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $97k (22.3% below list).
• Recommended offer: $97k (22.3% below list) — sets the bar for 1% rule.
• Cap rate 4.9% vs local median 6.4% in Alton — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: 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 44d 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 $864 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 20 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1891 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $97,064 (22.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1891 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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?
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 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: 0.78% ✗
• Cap rate: 4.90%
• Cash-on-cash: -4.97%
• DSCR: 0.78
• GRM: 10.7

CMA / ARV

• ARV (on-the-fly): $112,670
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
437 E 9th St	0.26mi	3/3.0 (+1)	1,310 (+10%)	7mo	$124,999	$95	52

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -19.0%
• Equity multiple: 0.31×
• Total profit: $-24,315
• Equity at exit: $18,638

10-year hold

• IRR: -3.3%
• Equity multiple: 0.73×
• Total profit: $-9,536
• Equity at exit: $10,808

Cash invested: $35,000 (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: 10.7×

Monthly cashflow live

• Estimated rent: $971 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$204 /mo · $2,450/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$204
• Net cashflow: $-145

Break-even live

Break-even rent $1,154

Max offer price $99,390

Occupancy floor —

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1110 George St Alton, IL	2.0	1.0	780	$1,019	$1.31	43d	1	0.35mi
1128 W 9th St Alton, IL	1.0	1.0	815	$800	$0.98	43d	1	0.65mi
504 Cherry St Alton, IL	2.0	1.0	1000	$895	$0.90	43d	1	0.73mi

Listing history 12 events

1. 2026-06-18
   days on market $125,000 Active 20 DOM
2. 2026-06-17
   days on market $125,000 Active 19 DOM
3. 2026-06-16
   days on market $125,000 Active 18 DOM
4. 2026-06-15
   days on market $125,000 Active 17 DOM
5. 2026-06-13
   days on market $125,000 Active 15 DOM
6. 2026-06-09
   days on market $125,000 Active 11 DOM
7. 2026-06-08
   days on market $125,000 Active 10 DOM
8. 2026-06-07
   days on market $125,000 Active 9 DOM
9. 2026-06-03
   days on market $125,000 Active 5 DOM
10. 2026-06-02
    days on market $125,000 Active 4 DOM
11. 2026-06-01
    days on market $125,000 Active 3 DOM
12. 2026-05-31
    days on market $125,000 Active 2 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: $2,450 · $204/mo
• Projected year-2 tax: $2,644 · $220/mo
• Expected delta: +$194/yr (+$16/mo · 7.9%)

ⓘ 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 ≥106°F today · 20 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: $11,648
• − Mortgage interest: −$7,002
• − Property taxes: −$2,450
• − Insurance: −$625
• − Repairs & maintenance: −$932
• − Management: −$932
• − Depreciation: −$3,636
• Taxable loss: −$3,929
• Est. tax savings @ 24.0%: +$943
• After-tax cash flow: $-797/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

1 event — show timeline

• 2026-05-29 Listed $125,000 MARIS as Distributed by MLS Grid

Property tax history

+3.6%/yr

Latest (2024): $2,450 · +8.7% YoY. Source: county tax records.