3310 Leroy Ave · Alton, IL 62002

$80,000

2 bd · 1.0 ba · 814 sqft · SingleFamily public records · 362 Days on market

Built 1945 9,749 sqft lot $98/sqft · 7% above area Est $75k · 7% over

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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 +21.4/30.0
• DSCR +6.8/10.0
• 1% rule +5.9/10.0
• Rent growth +4.6/5.0
• ARV discount +4.5/15.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking to expand your portfolio? Or start your investment future? This Alton home offers just that! 2 bedrooms, 1 bath with long term tenants on a month-to-month lease. Conveniently located near highways, shopping, restaurants and schools. Call today for more information! ALL information is deemed reliable but is not guaranteed and should be verified by the buyer and/or buyers agent before making an offer.

Key facts

• 9,749 sq ft lot
• Built 1945
• Listed 361 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $118 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($875 rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 6.4% in Alton — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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-, schools F, crime F.
• 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.
• Market conditions: Rents rising fast (+8.2%/yr); 169 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 336 units permitted in Madison County in 2024 (0 in 5+ unit buildings).
• This rent is only 17% of the median local income ($61k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $553 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 + 8.0% rent growth), your $22k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 362 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $54k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1945 — 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 $70,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 362 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 1945 — 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: 1.09% ✓
• Cap rate: 8.07%
• Cash-on-cash: 6.34%
• DSCR: 1.28
• GRM: 7.6

CMA / ARV

• ARV (median comp): $75,032
• List price: $80,000
• Delta: 6.62%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
809 Maurice St	0.12mi	2/1.0	886 (+9%)	4mo	$55,000	$62	76
2814 Grandview Ave	0.31mi	2/1.0	756 (-7%)	0mo	$69,900	$92	73
3410 Fullerton Ave	0.49mi	2/1.0	787 (-3%)	0mo	$92,500	$118	71
3619 Thomas Ave	0.57mi	2/1.0	800 (-2%)	3mo	$94,900	$119	68
3404 Oak Dr	0.32mi	2/1.0	728 (-11%)	0mo	$122,900	$169	67
1207 Milton Rd	0.23mi	2/1.5	918 (+13%)	2mo	$110,000	$120	64
516 Sering Ave	0.55mi	2/1.0	875 (+8%)	2mo	$110,000	$126	60
510 Marsh Ave	0.51mi	2/1.0	726 (-11%)	1mo	$31,700	$44	57
3311 Sherman St	0.45mi	2/1.0	710 (-13%)	2mo	$75,000	$106	56
2614 Denny Ave	0.63mi	2/1.0	750 (-8%)	2mo	$85,000	$113	56
2619 Sidney St	0.59mi	1/1.0 (-1)	862 (+6%)	2mo	$48,500	$56	56
608 Milton Rd	0.59mi	2/1.0	910 (+12%)	4mo	$87,000	$96	50

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: -0.9%
• Equity multiple: 0.97×
• Total profit: $-782
• Equity at exit: $11,928

10-year hold

• IRR: 13.6%
• Equity multiple: 2.35×
• Total profit: $30,165
• Equity at exit: $6,917

Cash invested: $22,400 (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: 7.6×

Monthly cashflow live

• Estimated rent: $875 high
• Mortgage (P&I): −$420
• Tax from tax record: −$120 /mo · $1,441/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$184
• Net cashflow: $118

Break-even live

Break-even rent $725

Max offer price $80,000

Occupancy floor 81%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3305 Franor St Alton, IL	2.0	1.0	1000	$549	$0.55	1d	1	0.05mi
3400 Milton Dr Alton, IL	2.0	1.5	972	$1,350	$1.39	3d	1	0.37mi
1408 Willard St Alton, IL	1.0	1.0	568	$750	$1.32	43d	1	0.38mi
3303 Jackson St Alton, IL	2.0	1.0	1050	$1,295	$1.23	43d	1	0.65mi
2418 Sanford Ave Alton, IL	2.0	1.0	958	$875	$0.91	20d	1	0.77mi
306 Lampert St Alton, IL	2.0	1.0	925	$1,000	$1.08	1d	1	0.83mi
140 Illinois St East Alton, IL	2.0	1.0	960	$695	$0.72	1d	1	1.10mi
806 Center St East Alton, IL	1.0	1.0	620	$675	$1.09	1d	1	1.26mi

Listing history 5 events

1. 2026-05-14
   status Active 410-char remark

   Show marketing remark (410 chars)

   Looking to expand your portfolio? Or start your investment future? This Alton home offers just that! 2 bedrooms, 1 bath with long term tenants on a month-to-month lease. Conveniently located near highways, shopping, restaurants and schools. Call today for more information! ALL information is deemed reliable but is not guaranteed and should be verified by the buyer and/or buyers agent before making an offer.

2. 2025-11-04
   status Active 410-char remark

   Show marketing remark (410 chars)

   Looking to expand your portfolio? Or start your investment future? This Alton home offers just that! 2 bedrooms, 1 bath with long term tenants on a month-to-month lease. Conveniently located near highways, shopping, restaurants and schools. Call today for more information! ALL information is deemed reliable but is not guaranteed and should be verified by the buyer and/or buyers agent before making an offer.

3. 2025-04-29
   listed $80,000 Active 410-char remark

   Show marketing remark (410 chars)

   Looking to expand your portfolio? Or start your investment future? This Alton home offers just that! 2 bedrooms, 1 bath with long term tenants on a month-to-month lease. Conveniently located near highways, shopping, restaurants and schools. Call today for more information! ALL information is deemed reliable but is not guaranteed and should be verified by the buyer and/or buyers agent before making an offer.

4. 2003-08-04
   soldstatus $54,000
5. 1996-07-05
   soldstatus $15,000

ⓘ 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: $1,441 · $120/mo
• Projected year-2 tax: $1,628 · $136/mo
• Expected delta: +$188/yr (+$16/mo · 13.0%)

ⓘ 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 ≥106°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: $10,499
• − Mortgage interest: −$4,481
• − Property taxes: −$1,441
• − Insurance: −$400
• − Repairs & maintenance: −$840
• − Management: −$840
• − Depreciation: −$2,327
• Taxable income: $170
• Est. tax owed @ 24.0%: −$41
• After-tax cash flow: $1,378/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

+433.3% since first listed

5 events — show timeline

• 2026-05-14 Relisted — MARIS as Distributed by MLS Grid
• 2025-11-04 Relisted — MARIS as Distributed by MLS Grid
• 2025-04-29 Listed $80,000 MARIS as Distributed by MLS Grid
• 2003-08-04 Sold (Public Records) $54,000 Public Records
• 1996-07-05 Sold (Public Records) $15,000 Public Records

Property tax history

+3.6%/yr

Latest (2024): $1,441 · +10.4% YoY. Source: county tax records.