2916 Harding Ave · Granite City, IL 62040

$125,000

3 bd · 2.0 ba · 1,543 sqft · SingleFamily public records · 1 Days on market

Built 1953 8,611 sqft lot Est $96k · 31% over

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Why this score? — see what drove the D 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 +22.3/30.0
• DSCR +7.2/10.0
• 1% rule +5.2/10.0
• Livability +3.2/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Well maintained 3 bed / 2 bath ranch with attached garage, privacy fenced backyard and basement. Just under 1600 sq ft of living space, plus a large sunroom addition. Living room with cute bay window and a separate area for a dining room table. Bright, eat in kitchen features a ceramic tile floor and includes the appliances. Primary bedroom suite includes an upgraded private bathroom w/ oversized shower, large closet and convenient stackable washer & dryer. 2 more XL bedrooms and a full bathroom in the hall complete the main level. Cozy sunroom addition on the back of the house with several windows & a pair of ceiling fans. Unfinished basement with another laundry area, utilitie

Key facts

• 8,611 sq ft lot
• Garage
• Built 1953

Property features AI

Finance

• Other: Private ownership; Residential property subtype: Single Family Residence; Home warranty included

Exterior

• Parking: Attached garage with garage door opener (1-car; approximately 19 x 11); Driveway and off-street parking
• Utilities: Public water; Public sewer; Electric service provided by Ameren; Natural gas connected; Electricity connected; Sewer connected; Water connected
• Home design: Single-family residence; One level
• Construction: Frame construction with vinyl siding
• Exterior features: Covered, enclosed patio/porch; Front and back yard; Landscaped, level lot; Privacy vinyl fencing; Shed(s)

Interior

• Kitchen: Electric cooktop; Built-in electric oven; Microwave; Dishwasher; Refrigerator
• Bedrooms: Three bedrooms, all on the main level
• Flooring: Laminate flooring
• Bathrooms: Two full bathrooms (main level)
• Heating & cooling: Forced air heating; Central air conditioning; Ceiling fan(s)
• Interior features: Bay window in the living room; 10 total rooms; Basement with block construction, unfinished storage space and sump pump; Ceiling fans; Central air
• Laundry & utility: Washer and dryer included; Laundry located on main and lower levels; Lower-level storage/laundry/utilities room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $55 ($657/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).

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: crime F, amenities F, commute 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.
• Zoned schools: Granite City High School (math 10% / reading 12%, grade F, #522 of 693 statewide, top 76%, 1,805 students, 0% FRL) — zoned schools average 0% FRL vs 59% district-wide (59 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+1.7%/yr); 194 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $152/mo; built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AH (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 $125,000

Questions for the listing agent

1. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 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: 1.02% ✓
• Cap rate: 8.28%
• Cash-on-cash: 7.09%
• DSCR: 1.32
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $95,666
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2816 Denver St	0.29mi	3/1.5	1,558 (+1%)	10mo	$100,000	$64	74
2902 Denver St	0.27mi	3/1.5	1,544 (+0%)	15mo	$95,000	$62	73
2205 Missouri Ave	0.69mi	3/1.0	1,568 (+2%)	14mo	$45,000	$29	50
2545 North St	0.74mi	3/2.0	1,650 (+7%)	6mo	$215,000	$130	49
1821 Maple St	0.49mi	4/2.0 (+1)	1,592 (+3%)	22mo	$100,000	$63	48
2215 Dewey Ave	0.56mi	4/1.5 (+1)	1,581 (+2%)	22mo	$45,000	$28	44
2411 Illinois Ave	0.62mi	4/1.0 (+1)	1,352 (-12%)	14mo	$56,000	$41	30

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: -14.9%
• Equity multiple: 0.47×
• Total profit: $-18,381
• Equity at exit: $18,638

10-year hold

• IRR: -8.8%
• Equity multiple: 0.49×
• Total profit: $-17,957
• 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 62040

• Home prices YoY: -21.8%
• Rents YoY: 1.7%
• Active inventory: 194
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,279 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$96 /mo · $1,157/yr
• Insurance: −$52
• Flood insurance flood zone: −$152 /mo · $1,824/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $55

Break-even live

Break-even rent $1,210

Max offer price $125,000

Occupancy floor 91%

Sensitivity live

Price	-10% $126	-5% $90	+0% $55	+5% $19	+10% $-16
Rent	-10% $-46	-5% $4	+0% $55	+5% $105	+10% $156
Rate	-1.0pp $118	-0.5pp $87	base $55	+0.5pp $22	+1.0pp $-11

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 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2317 Grand Ave Granite City, IL	2.0	1.0	1124	$750	$0.67	9d	1	1.46mi

Listing history 2 events

1. 2026-05-27
   status Pending
2. 2026-05-27
   listed $125,000 Active

ⓘ 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: $1,157 · $96/mo
• Projected year-2 tax: $1,997 · $166/mo
• Expected delta: +$840/yr (+$70/mo · 72.7%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone AH · 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 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,354
• − Mortgage interest: −$7,002
• − Property taxes: −$1,157
• − Insurance: −$2,450
• − Repairs & maintenance: −$1,228
• − Management: −$1,228
• − Depreciation: −$3,636
• Taxable loss: −$1,347
• Est. tax savings @ 24.0%: +$323
• After-tax cash flow: $981/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

2 events — show timeline

• 2026-05-27 Pending — MARIS as Distributed by MLS Grid
• 2026-05-27 Listed $125,000 MARIS as Distributed by MLS Grid

Property tax history

+10.4%/yr

Latest (2024): $1,157 · +162.3% YoY. Source: county tax records.