4023 Braden Ave · Granite City, IL 62040

$59,900

2 bd · 1.0 ba · 860 sqft · SingleFamily · 239 Days on market

Built 1968 7,248 sqft lot $70/sqft · 43% below area Est $105k · 43% under ↓ 8% since listing

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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
• 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 MLS

Discover the potential in this Granite City investment opportunity! Located at 4023 Braden Ave, this 2-bedroom, 1-bath home offers a solid foundation for your next project. Previously used as a rental, the property is ready for a new owner to reimagine and restore its charm. With a simple, single-level layout and no basement or crawl space, this home is easy to maintain and customize. Whether you’re an investor seeking your next renovation project or a landlord looking to expand your portfolio, this property delivers excellent value and flexibility. The current owner has relocated out of the area and is ready to pass this opportunity on to someone who can bring new life to the home. With a little vision and effort, this property could shine once again — a great chance to invest in Granite City’s growing market.

Key facts

• 7,248 sq ft lot
• Built 1968
• Listed 239 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $441 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $53k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.1% vs local median 7.0% in Granite City — 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 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; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 13d 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 $414 of loan paydown is wiped out by about $2k 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 + 1.7% rent growth), your $17k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 239 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $5k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $52,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 239 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.86% ✓
• Cap rate: 15.13%
• Cash-on-cash: 31.55%
• DSCR: 2.40
• GRM: 4.5

CMA / ARV

• ARV (median comp): $105,074
• List price: $59,900
• Delta: -42.99%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1713 Moro Ave	0.36mi	3/1.0 (+1)	858 (-0%)	0mo	$30,000	$35	78
4109 Melrose Ave	0.10mi	2/1.0	744 (-14%)	2mo	$59,900	$81	71
1629 Moro Ave	0.29mi	2/1.0	792 (-8%)	5mo	$119,000	$150	69
26 Briarcliff Dr	0.37mi	3/1.0 (+1)	864 (+0%)	11mo	$64,500	$75	68
3 Briarcliff Dr	0.15mi	3/1.0 (+1)	936 (+9%)	13mo	$75,000	$80	62
1635 Lindell Blvd	0.61mi	2/1.0	896 (+4%)	8mo	$110,000	$123	58
1620 Ferguson Ave	0.52mi	2/1.0	786 (-9%)	5mo	$69,900	$89	57
2004 Cottage Ave	0.72mi	2/2.0	875 (+2%)	10mo	$138,900	$159	51
169 Briarmoor Ln	0.32mi	3/1.0 (+1)	960 (+12%)	12mo	$119,900	$125	51
97 Briarhaven Dr	0.44mi	3/1.0 (+1)	953 (+11%)	11mo	$125,000	$131	47
2117 Lynch Ave	0.74mi	2/1.0	748 (-13%)	2mo	$49,500	$66	42
1633 Sycamore St	0.66mi	3/1.0 (+1)	978 (+14%)	8mo	$110,000	$112	35

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: 24.9%
• Equity multiple: 2.01×
• Total profit: $16,943
• Equity at exit: $8,931

10-year hold

• IRR: 31.8%
• Equity multiple: 3.69×
• Total profit: $45,172
• Equity at exit: $5,179

Cash invested: $16,772 (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: 4.5×

Monthly cashflow live

• Estimated rent: $1,115 medium
• Mortgage (P&I): −$314
• Tax from tax record: −$101 /mo · $1,209/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$234
• Net cashflow: $441

Break-even live

Break-even rent $557

Max offer price $59,900

Occupancy floor 55%

Sensitivity live

Price	-10% $475	-5% $458	+0% $441	+5% $424	+10% $407
Rent	-10% $353	-5% $397	+0% $441	+5% $485	+10% $529
Rate	-1.0pp $471	-0.5pp $456	base $441	+0.5pp $425	+1.0pp $410

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Rent comps 4 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	0.71mi
303 Wilson Park Ln Granite City, IL	3.0	1.0	900	$1,200	$1.33	8d	1	0.75mi
2734 Center St Unit D Granite City, IL	1.0	1.0	680	$1,025	$1.51	13d	1	1.23mi
2715 Center St Unit B Granite City, IL	2.0	1.0	930	$1,275	$1.37	44d	1	1.26mi

Listing history 20 events

1. 2026-06-18
   days on market $59,900 Active 239 DOM
2. 2026-06-17
   days on market $59,900 Active 238 DOM
3. 2026-06-16
   days on market $59,900 Active 237 DOM
4. 2026-06-15
   days on market $59,900 Active 236 DOM
5. 2026-06-13
   days on market $59,900 Active 234 DOM
6. 2026-06-13
   days on market $59,900 Active 233 DOM
7. 2026-06-09
   days on market $59,900 Active 230 DOM
8. 2026-06-08
   days on market $59,900 Active 229 DOM
9. 2026-06-07
   days on market $59,900 Active 228 DOM
10. 2026-06-05
    days on market $59,900 Active 225 DOM
11. 2026-06-03
    days on market $59,900 Active 224 DOM
12. 2026-06-02
    days on market $59,900 Active 223 DOM
13. 2026-06-01
    days on market $59,900 Active 222 DOM
14. 2026-05-31
    days on market $59,900 Active 221 DOM
15. 2026-04-16
    status Active 842-char remark

    Show marketing remark (842 chars)

    Discover the potential in this Granite City investment opportunity! Located at 4023 Braden Ave, this 2-bedroom, 1-bath home offers a solid foundation for your next project. Previously used as a rental, the property is ready for a new owner to reimagine and restore its charm. With a simple, single-level layout and no basement or crawl space, this home is easy to maintain and customize. Whether you’re an investor seeking your next renovation project or a landlord looking to expand your portfolio, this property delivers excellent value and flexibility. The current owner has relocated out of the area and is ready to pass this opportunity on to someone who can bring new life to the home. With a little vision and effort, this property could shine once again — a great chance to invest in Granite City’s growing market.

16. 2026-01-13
    price $59,900 842-char remark

    Show marketing remark (842 chars)

    Discover the potential in this Granite City investment opportunity! Located at 4023 Braden Ave, this 2-bedroom, 1-bath home offers a solid foundation for your next project. Previously used as a rental, the property is ready for a new owner to reimagine and restore its charm. With a simple, single-level layout and no basement or crawl space, this home is easy to maintain and customize. Whether you’re an investor seeking your next renovation project or a landlord looking to expand your portfolio, this property delivers excellent value and flexibility. The current owner has relocated out of the area and is ready to pass this opportunity on to someone who can bring new life to the home. With a little vision and effort, this property could shine once again — a great chance to invest in Granite City’s growing market.

17. 2025-10-16
    listed $64,900 Active 842-char remark

    Show marketing remark (842 chars)

    Discover the potential in this Granite City investment opportunity! Located at 4023 Braden Ave, this 2-bedroom, 1-bath home offers a solid foundation for your next project. Previously used as a rental, the property is ready for a new owner to reimagine and restore its charm. With a simple, single-level layout and no basement or crawl space, this home is easy to maintain and customize. Whether you’re an investor seeking your next renovation project or a landlord looking to expand your portfolio, this property delivers excellent value and flexibility. The current owner has relocated out of the area and is ready to pass this opportunity on to someone who can bring new life to the home. With a little vision and effort, this property could shine once again — a great chance to invest in Granite City’s growing market.

18. 2025-10-14
    historical $64,900 842-char remark

    Show marketing remark (842 chars)

    Discover the potential in this Granite City investment opportunity! Located at 4023 Braden Ave, this 2-bedroom, 1-bath home offers a solid foundation for your next project. Previously used as a rental, the property is ready for a new owner to reimagine and restore its charm. With a simple, single-level layout and no basement or crawl space, this home is easy to maintain and customize. Whether you’re an investor seeking your next renovation project or a landlord looking to expand your portfolio, this property delivers excellent value and flexibility. The current owner has relocated out of the area and is ready to pass this opportunity on to someone who can bring new life to the home. With a little vision and effort, this property could shine once again — a great chance to invest in Granite City’s growing market.

19. 2024-07-14
    historical $800
20. 2024-05-14
    listed $800

ⓘ 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: $1,209 · $101/mo
• Projected year-2 tax: $1,284 · $107/mo
• Expected delta: +$75/yr (+$6/mo · 6.2%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X · 50% 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: $13,380
• − Mortgage interest: −$3,355
• − Property taxes: −$1,209
• − Insurance: −$300
• − Repairs & maintenance: −$1,070
• − Management: −$1,070
• − Depreciation: −$1,743
• Taxable income: $4,633
• Est. tax owed @ 24.0%: −$1,112
• After-tax cash flow: $4,180/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

-7.7% since first listed

6 events — show timeline

• 2026-04-16 Relisted — MARIS as Distributed by MLS Grid
• 2026-01-13 Price Changed $59,900 MARIS as Distributed by MLS Grid
• 2025-10-16 Listed $64,900 MARIS as Distributed by MLS Grid
• 2025-10-14 Coming Soon $64,900 MARIS as Distributed by MLS Grid
• 2024-07-14 Rental Removed $800 MARIS
• 2024-05-14 Listed for Rent $800 MARIS

Property tax history

+11.7%/yr

Latest (2024): $1,209 · +1.6% YoY. Source: county tax records.