1012 W 9th St · Alton, IL 62002

$105,000

2 bd · 1.0 ba · 1,348 sqft · Townhouse public records · 113 Days on market

Built 1891 3,484 sqft lot Est $152k · 31% under

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Why this score? — see what drove the C+ 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 +25.0/30.0
• ARV discount +15.0/15.0
• DSCR +8.1/10.0
• 1% rule +5.3/10.0
• 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

Duplex style home. One side has been lived in and the other side was used for storage and needs TLC.

Key facts

• 2 parking spots
• Built 1891
• Listed 113 days

Property features AI

Finance

• Financial info: Tax exemptions: Homeowner, Returning Veteran, Senior

Exterior

• Parking: Parking lot
• Utilities: Public sewer
• Home design: Detached single-family home; Townhouse-style 2-story / bi-level configuration; Property is over 100 years old; Built before 1978
• Construction: Vinyl siding and frame construction; Block foundation
• Exterior features: Porch; Sloped lot

Interior

• Kitchen: Eating area/table space kitchen; Range; Refrigerator
• Bedrooms: 4 bedrooms (master and three additional bedrooms on second level; some bedrooms have vinyl, hardwood or other flooring)
• Flooring: Vinyl flooring in some main-level rooms and certain bedrooms; Hardwood flooring in select bedrooms and family room; Carpet in living room and laundry; Other flooring in dining rooms and one bedroom
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating
• Interior features: Window treatments; Egress window in basement
• Laundry & utility: Main-level laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath townhouse listed at $105k.

Deal economics

• At list price, monthly cash flow is $228 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Recommended offer: $96k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.9% 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 Middle School (math 10% / reading 11%, grade F, #580 of 665 statewide, top 88%, 1,241 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); 67% 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 $726 of loan paydown is wiped out by about $3k 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 $29k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 113 days — a 9% lower offer ($96k) 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 $95,550 (9.0% below list)

Questions for the listing agent

1. It's been on market 113 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1891 — 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: 1.03% ✓
• Cap rate: 8.89%
• Cash-on-cash: 9.29%
• DSCR: 1.41
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $152,324
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
417 Prospect St Unit A	0.24mi	3/1.5 (+1)	1,400 (+4%)	10mo	$155,000	$111	67
417 Prospect St Unit S	0.24mi	2/1.5	1,383 (+3%)	23mo	$109,900	$79	64
417 Prospect St Unit G	0.24mi	2/1.5	1,198 (-11%)	10mo	$155,000	$129	60
417 Prospect St Unit O	0.24mi	2/2.0	1,200 (-11%)	18mo	$135,000	$113	51

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: 2.7%
• Equity multiple: 1.11×
• Total profit: $3,181
• Equity at exit: $15,656

10-year hold

• IRR: 16.2%
• Equity multiple: 2.61×
• Total profit: $47,384
• Equity at exit: $9,078

Cash invested: $29,400 (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: 8.1×

Monthly cashflow live

• Estimated rent: $1,086 medium
• Mortgage (P&I): −$551
• Tax from tax record: −$36 /mo · $428/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$228
• Net cashflow: $228

Break-even live

Break-even rent $797

Max offer price $105,000

Occupancy floor 74%

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1106 George St Unit 1106 Alton, IL	3.0	1.5	1750	$1,196	$0.68	3d	1	0.48mi
504 Cherry St Alton, IL	2.0	1.0	1000	$895	$0.90	43d	1	1.20mi
3108 Alby St Alton, IL	2.0	1.0	900	$1,000	$1.11	43d	1	1.34mi

Listing history 9 events

1. 2026-06-02
   status $105,000 Pending 113 DOM
2. 2026-06-01
   days on market $105,000 Active 113 DOM
3. 2026-05-31
   days on market $105,000 Active 112 DOM
4. 2026-05-20
   status Active
5. 2026-04-11
   historical
6. 2026-01-07
   status Active
7. 2026-01-06
   historical
8. 2025-12-25
   historical
9. 2025-04-15
   listed 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: $428 · $36/mo
• Projected year-2 tax: $1,406 · $117/mo
• Expected delta: +$978/yr (+$81/mo · 228.7%)

ⓘ 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 ≥107°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: $13,028
• − Mortgage interest: −$5,882
• − Property taxes: −$428
• − Insurance: −$525
• − Repairs & maintenance: −$1,042
• − Management: −$1,042
• − Depreciation: −$3,055
• Taxable income: $1,055
• Est. tax owed @ 24.0%: −$253
• After-tax cash flow: $2,479/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

Property tax history

-1.5%/yr

Latest (2024): $428 · +195.6% YoY. Source: county tax records.