320-322 N 2nd St · Belleville, IL 62220

$35,000

2 bd · 4.0 ba · 1,815 sqft · SingleFamily public records · 78 Days on market

Built 1901 3,920 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks

NEEDS ALOT OF WORK, NEEDS A ROOF. USED AS STORAGE UNIT. SOLD AS-IS. ON 2 LOTS 2 PARCELS

Key facts

• 3,920 sq ft lot
• Built 1901
• Listed 78 days

Property features AI

Exterior

• Utilities: Public water; Public sewer; Electricity (220 volts) available; Natural gas available
• Home design: Single-family residence (attached); Facing/entry level: main level entry; One story
• Construction: Masonite exterior; Basement present
• Exterior features: Open, rectangular lot; No fencing

Interior

• Kitchen: Kitchen on the main level
• Bedrooms: 2 bedrooms, both on the main level
• Bathrooms: 2 full bathrooms, both on the main level
• Heating & cooling: Forced air heating (natural gas); No central air conditioning
• Interior features: Basement with interior and exterior entry; unfinished, full basement; One-level living

What this means for you Summary

Snapshot

• This is a 2-bed/4.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $283 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Recommended offer: $33k (6.0% below list) — sets the bar for market timing.
• Cap rate 31.8% vs local median 5.6% in Belleville — 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 78/100 on livability (#142 in IL, #2,604 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime F, amenities D-.
• Belleville Twp Hsd 201 (suburban): math 21% / reading 28% proficiency, ranked #308 of 620 in IL (top 50%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Belleville High School-East (math 23% / reading 30%, grade F, #241 of 693 statewide, top 35%, 2,568 students, 0% FRL).
• Market conditions: Rents rising fast (+14.5%/yr); 148 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 783 units permitted in St. Clair County in 2024 (378 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $242 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• St. Clair County population projected at -23% 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 $10k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($33k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $460/mo; built in 1901 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $32,900 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 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 1901 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 3.56% ✓
• Cap rate: 31.77%
• Cash-on-cash: 90.98%
• DSCR: 5.05
• GRM: 2.3

CMA / ARV

• ARV (on-the-fly): $174,240
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8 Kircher Pl	0.39mi	3/1.5 (+1)	1,763 (-3%)	2mo	$185,000	$105	60
508 W C St	0.29mi	3/1.5 (+1)	1,674 (-8%)	1mo	$125,000	$75	58
204 W Main St	0.28mi	2/2.0	2,082 (+15%)	0mo	$199,000	$96	54
931 N First St St	0.46mi	3/2.0 (+1)	1,968 (+8%)	3mo	$187,500	$95	49
221 N Church St	0.34mi	3/1.5 (+1)	1,582 (-13%)	1mo	$70,000	$44	47
244 Brackett St	0.59mi	3/3.0 (+1)	1,700 (-6%)	7mo	$155,000	$91	47
300 S Jackson St	0.55mi	3/2.0 (+1)	1,675 (-8%)	5mo	$175,000	$104	44
219 N Pennsylvania Ave	0.70mi	3/2.0 (+1)	1,688 (-7%)	0mo	$225,000	$133	42
301 N Pennsylvania Ave	0.68mi	3/1.5 (+1)	1,976 (+9%)	0mo	$258,000	$131	38
209 N 14th St	0.70mi	3/2.0 (+1)	2,040 (+12%)	1mo	$40,000	$20	33
619 E A St	0.64mi	3/2.0 (+1)	1,568 (-14%)	6mo	$45,000	$29	30
402 Abend St	0.72mi	3/1.5 (+1)	2,038 (+12%)	2mo	$239,900	$118	29

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: 40.4%
• Equity multiple: 2.96×
• Total profit: $19,214
• Equity at exit: $5,219

10-year hold

• IRR: 50.7%
• Equity multiple: 8.26×
• Total profit: $71,116
• Equity at exit: $3,026

Cash invested: $9,800 (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 62220

• Home prices YoY: -26.4%
• Rents YoY: 14.5%
• Active inventory: 148
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $1,247 high
• Mortgage (P&I): −$184
• Tax est. 1.5%: −$44 /mo · $525/yr
• Insurance: −$15
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $283

Break-even live

Break-even rent $889

Max offer price $35,000

Occupancy floor 72%

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
310 N 10th St Belleville, IL	2.0	1.0	1270	$1,300	$1.02	2d	1	0.52mi
1107 Bristow St Belleville, IL	3.0	1.0	1238	$1,500	$1.21	12d	1	0.69mi
618 W Monroe St Belleville, IL	3.0	1.0	1500	$1,050	$0.70	24d	1	0.69mi
109 S 13th St Belleville, IL	3.0	1.5	1800	$1,325	$0.74	18d	1	0.80mi
1 Rosehaven Dr Belleville, IL	3.0	2.0	1512	$1,325	$0.88	24d	1	1.44mi

Listing history 16 events

1. 2026-06-18
   days on market $35,000 Active 78 DOM
2. 2026-06-17
   days on market $35,000 Active 77 DOM
3. 2026-06-16
   days on market $35,000 Active 76 DOM
4. 2026-06-15
   days on market $35,000 Active 75 DOM
5. 2026-06-13
   days on market $35,000 Active 73 DOM
6. 2026-06-09
   days on market $35,000 Active 69 DOM
7. 2026-06-08
   days on market $35,000 Active 68 DOM
8. 2026-06-07
   days on market $35,000 Active 67 DOM
9. 2026-06-03
   days on market $35,000 Active 63 DOM
10. 2026-06-02
    days on market $35,000 Active 62 DOM
11. 2026-06-01
    days on market $35,000 Active 61 DOM
12. 2026-05-31
    days on market $35,000 Active 60 DOM
13. 2026-05-05
    price $35,000
14. 2026-04-01
    listed $45,000 Active
15. 2026-04-01
    historical $45,000
16. 2006-07-19
    soldstatus $124,000

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone AE · 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 4/10 Moderate 3 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,960
• − Mortgage interest: −$1,961
• − Property taxes: −$525
• − Insurance: −$5,700
• − Repairs & maintenance: −$1,197
• − Management: −$1,197
• − Depreciation: −$1,018
• Taxable income: $3,362
• Est. tax owed @ 24.0%: −$807
• After-tax cash flow: $2,584/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: Belleville Twp Hsd 201
• NCES district ID: 1705640
• Math proficiency: 21% ▼ -8.00%
• Reading proficiency: 28% ▼ -3.00%
• Median HH income: $58,064
• Composite: 22.39/100
• National rank: #8115
• State rank: #308 of 620 in IL

Livability — Belleville

• Score: 78/100
• State rank: #142
• US rank: #2604

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Belleville, IL
• County: Saint Clair County · 169,691 people
• City population: 47,407
• Metro: St. Louis, MO-IL
• Population (ZIP): 19,152
• Household income: $65,952
• Rent vs Own: 37.0% rent · 63.0% own
• Severe rent burden: 923.0

Population outlook (St. Clair County) Hauer SSP2

• Today (2025): 250,366 people
• By 2030: 240,511 · -3.9%
• By 2040: 217,391 · -13.2%
• By 2050: 192,699 · -23.0%
• By 2075: 140,637 · -43.8%
• By 2100: 100,499 · -59.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Black 22% Two or more races 6% Hispanic / Latino 3% Asian 1%
• Common ancestry: Lithuanian 2% Slovak 2% Romanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Arabic 2% Spanish 1% Other Indo-European 1%

Political lean MEDSL · St. Clair

• 2024 margin: Lean D (+7.9) · D 53.0% · R 45.1% · Other 1.8%
• 2008→2024 swing: -14.6pp toward R · 2008: 22.4pp · 2024: 7.9pp
• All cycles: 2024: D+7.9 2020: D+8.7 2016: D+5.6 2012: D+14.5 2008: D+22.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -52.27%
• Current HPI: 145.9237
• Rent YoY: ▲ 14.47%
• 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

-71.8% since first listed

4 events — show timeline

• 2026-05-05 Price Changed $35,000 MARIS as Distributed by MLS Grid
• 2026-04-01 Listed $45,000 MARIS as Distributed by MLS Grid
• 2026-04-01 Coming Soon $45,000 MARIS as Distributed by MLS Grid
• 2006-07-19 Sold (Public Records) $124,000 Public Records

Property tax history

-0.7%/yr

Latest (2024): $2,322 · -4.4% YoY. Source: county tax records.