412 Jefferson Ave · Alton, IL 62002

$20,800

3 bd · 1.0 ba · 864 sqft · SingleFamily public records · 18 Days on market

Built 1891 4,800 sqft lot $24/sqft · 75% below area

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

Listing remarks

Opportunity awaits at 412 Jefferson in Alton! This home offers plenty of space and potential for an investor, rehab project, or buyer ready to make it their own. The front door opens into an enclosed porch/mudroom that leads into the living room and separate dining room. The main level also features a cozy kitchen, two bedrooms, one full bathroom, and additional bonus/storage rooms offering flexible space for hobbies, storage, or future improvements. Upstairs includes an additional bedroom and bonus room, while the full unfinished basement provides even more storage potential. Located in the heart of historic Alton, this property is just minutes from downtown shops, local restaurants, river

Key facts

• Cozy kitchen
• Convenient access
• Bonus storage rooms

Tags

• ENCLOSED PORCH
• COZY KITCHEN
• BONUS STORAGE ROOMS
• FULL UNFINISHED BASEMENT
• HISTORIC ARCHITECTURE
• CONVENIENT ACCESS

Property features AI

Finance

• Other: Seller may consider concessions
• Financial info: Lease not considered

Exterior

• Utilities: Public water; Public sewer; Electric: Other
• Home design: Single-family residence; Residential property; Bank-owned
• Construction: Vinyl siding
• Exterior features: Back yard

Interior

• Bedrooms: 3 bedrooms total; 2 bedrooms on the main level; 1 bedroom on the upper level
• Bathrooms: 1 full bathroom (main/upper levels)
• Heating & cooling: Forced air heating; No central air
• Interior features: Full basement; One and one-half levels; 8 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $21k.

Deal economics

• At list price, monthly cash flow is $797 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $21k).
• Recommended offer: $20k (1.5% below list) — sets the bar for market timing.
• Cap rate 52.2% 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: 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; 2 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 $144 of loan paydown is wiped out by about $624 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 $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($20k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1891 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $20,488 (1.5% below list)

Questions for the listing agent

1. Built in 1891 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 5.72% ✓
• Cap rate: 52.25%
• Cash-on-cash: 164.12%
• DSCR: 8.30
• GRM: 1.5

CMA / ARV

• ARV (median comp): $123,910
• List price: $20,800
• Delta: -83.21%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1113 Mcpherson Ave	0.55mi	2/1.0 (-1)	840 (-3%)	0mo	$125,000	$149	65
941 Douglas St	0.45mi	2/1.0 (-1)	809 (-6%)	10mo	$125,000	$155	55
1106 Danforth St	0.47mi	2/1.0 (-1)	925 (+7%)	10mo	$128,000	$138	53

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: —
• Equity multiple: 10.22×
• Total profit: $53,668
• Equity at exit: $3,101

10-year hold

• IRR: —
• Equity multiple: 25.17×
• Total profit: $140,759
• Equity at exit: $1,798

Cash invested: $5,824 (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: 1.5×

Monthly cashflow live

• Estimated rent: $1,190 medium
• Mortgage (P&I): −$109
• Tax est. 1.5%: −$26 /mo · $312/yr
• Insurance: −$9
• HOA: −$0
• Vacancy / Maint / Mgmt: −$250
• Net cashflow: $797

Break-even live

Break-even rent $182

Max offer price $20,800

Occupancy floor 28%

Sensitivity live

Price	-10% $811	-5% $804	+0% $797	+5% $789	+10% $782
Rent	-10% $702	-5% $750	+0% $797	+5% $844	+10% $891
Rate	-1.0pp $807	-0.5pp $802	base $797	+0.5pp $791	+1.0pp $786

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: $5,200
• Closing costs: $624
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1110 George St Alton, IL	2.0	1.0	780	$1,019	$1.31	44d	1	1.06mi
3108 Alby St Alton, IL	2.0	1.0	900	$1,000	$1.11	44d	1	1.37mi

Listing history 4 events

1. 2026-05-11
   listed $20,800 Active 1053-char remark
2. 2001-06-12
   soldstatus $26,000
3. 1995-03-13
   soldstatus $21,000
4. 1992-11-12
   soldstatus $21,000

ⓘ 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 X · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥107°F today · 19 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: $14,283
• − Mortgage interest: −$1,165
• − Property taxes: −$312
• − Insurance: −$104
• − Repairs & maintenance: −$1,143
• − Management: −$1,143
• − Depreciation: −$605
• Taxable income: $9,811
• Est. tax owed @ 24.0%: −$2,355
• After-tax cash flow: $7,204/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

-1.0% since first listed

5 events — show timeline

• 2026-05-29 Pending — MARIS as Distributed by MLS Grid
• 2026-05-11 Listed $20,800 MARIS as Distributed by MLS Grid
• 2001-06-12 Sold (Public Records) $26,000 Public Records
• 1995-03-13 Sold (Public Records) $21,000 Public Records
• 1992-11-12 Sold (Public Records) $21,000 Public Records

Property tax history

+7.3%/yr

Latest (2024): $1,562 · +6.4% YoY. Source: county tax records.