806 N 2nd St · Belleville, IL 62226

$29,900

3 bd · 2.0 ba · 840 sqft · SingleFamily public records · 50 Days on market

Built 1862 7,405 sqft lot

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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
• Livability +3.9/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Situated in an established neighborhood in Belleville, this charming historic home offers a blend of character, potential, and everyday convenience. Built in the 1800s, this 1.5-story residence features approximately 3 bedrooms and 1 bathroom within a manageable footprint, making it an appealing opportunity for all. A functional layout includes a spacious living room, a dedicated dining area, and a kitchen ready for your personal touches. The home also offers a partial basement for additional storage and utility space. Outside, the property sits on a generous lot with a concrete driveway and a 1-car garage, providing both off-street parking and added convenience. Located just minutes from l

Key facts

• Generous lot
• Partial basement
• Historic home

Tags

• HISTORIC HOME
• SPACIOUS LIVING ROOM
• DEDICATED DINING AREA
• PARTIAL BASEMENT
• GENEROUS LOT
• CONCRETE DRIVEWAY

Property features AI

Finance

• Financial info: Lease not considered

Exterior

• Parking: One-car garage
• Utilities: Public water; Public sewer; Electric service by Ameren
• Home design: Single family residence; One and one-half stories; Bank-owned
• Construction: Brick construction
• Exterior features: Covered porch; Back yard; Sloped lot

Interior

• Bedrooms: Three bedrooms total; One bedroom on the main level; Two bedrooms on the upper level
• Bathrooms: One full bathroom (main/upper levels)
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Cellar; Crawl space; Seven total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $30k.

Deal economics

• At list price, monthly cash flow is $811 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• Recommended offer: $29k (3.0% below list) — sets the bar for market timing.
• Cap rate 38.8% vs local median 5.6% in Belleville — 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 78/100 on livability (#142 in IL, #2,604 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime F, amenities D-.
• Belleville Twp Hsd 201 (suburban): math 21% / reading 28% proficiency, ranked #308 of 620 in IL (top 50%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Belleville High School-West (math 19% / reading 26%, grade F, #317 of 693 statewide, top 46%, 2,234 students, 0% FRL).
• Market conditions: Rents rising fast (+4.6%/yr); 190 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 783 units permitted in St. Clair County in 2024 (378 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $207 of loan paydown is wiped out by about $897 of value loss. Plan a longer hold.
• St. Clair County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 4.6% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($29k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1862 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $29,003 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1862 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 4.31% ✓
• Cap rate: 38.83%
• Cash-on-cash: 116.21%
• DSCR: 6.17
• GRM: 1.9

CMA / ARV

• ARV (on-the-fly): $89,040
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
324 Gilbert St	0.23mi	2/1.0 (-1)	914 (+9%)	2mo	$96,900	$106	64
513 N Fourth St	0.25mi	2/1.5 (-1)	909 (+8%)	6mo	$25,000	$28	62
1007 Western Ave	0.47mi	3/1.5	884 (+5%)	9mo	$132,500	$150	59
504 N 16th St	0.70mi	3/1.0	840 (0%)	10mo	$54,900	$65	56
708 Gilbert St	0.46mi	2/1.0 (-1)	910 (+8%)	1mo	$94,500	$104	55
1213 Kinsella Ave	0.47mi	2/1.0 (-1)	864 (+3%)	11mo	$145,000	$168	55
112 Brackett St	0.24mi	2/2.0 (-1)	722 (-14%)	9mo	$80,000	$111	53
900 N Church St	0.56mi	2/1.0 (-1)	780 (-7%)	6mo	$129,900	$167	48
1208 Western Ave	0.49mi	2/1.5 (-1)	884 (+5%)	16mo	$119,900	$136	48
709 Benton St	0.53mi	2/1.0 (-1)	960 (+14%)	1mo	$42,500	$44	42
216 Anna St	0.73mi	2/1.0 (-1)	808 (-4%)	16mo	$65,000	$80	38
619 N Church St	0.44mi	3/1.0	955 (+14%)	23mo	$99,900	$105	33

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 · 4.56% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.84×
• Total profit: $48,864
• Equity at exit: $4,458

10-year hold

• IRR: —
• Equity multiple: 15.07×
• Total profit: $117,815
• Equity at exit: $2,585

Cash invested: $8,372 (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 62226

• Rents YoY: 4.6%
• Active inventory: 190
• Price-to-rent: 1.9×

Monthly cashflow live

• Estimated rent: $1,288 high
• Mortgage (P&I): −$157
• Tax est. 1.5%: −$37 /mo · $448/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$270
• Net cashflow: $811

Break-even live

Break-even rent $262

Max offer price $29,900

Occupancy floor 32%

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: $7,475
• Closing costs: $897
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1308 Caseyville Ave Swansea, IL	2.0	1.0	890	$1,200	$1.35	4d	1	0.32mi
1671 Shadow Ridge Ct Belleville, IL	1.0–2.0	1.0	815	$1,325	$1.62	1d	12	0.97mi
1717 La Salle St Belleville, IL	3.0	1.0	1104	$1,350	$1.22	23d	1	1.29mi
31 S 27th St Belleville, IL	2.0	1.0	1000	$915	$0.92	23d	1	1.42mi
1528 Lebanon Ave Belleville, IL	2.0	1.0	900	$1,095	$1.22	12d	1	1.47mi

Listing history 13 events

1. 2026-06-18
   days on market $29,900 Active 50 DOM
2. 2026-06-17
   days on market $29,900 Active 49 DOM
3. 2026-06-16
   days on market $29,900 Active 48 DOM
4. 2026-06-15
   days on market $29,900 Active 47 DOM
5. 2026-06-13
   days on market $29,900 Active 45 DOM
6. 2026-06-09
   days on market $29,900 Active 41 DOM
7. 2026-06-08
   days on market $29,900 Active 40 DOM
8. 2026-06-07
   days on market $29,900 Active 39 DOM
9. 2026-06-03
   days on market $29,900 Active 35 DOM
10. 2026-06-02
    days on market $29,900 Active 34 DOM
11. 2026-06-01
    days on market $29,900 Active 33 DOM
12. 2026-05-31
    days on market $29,900 Active 32 DOM
13. 2026-04-29
    listed $32,000 Active

ⓘ 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 5/10 Major 7 d/yr ≥107°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 3 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,454
• − Mortgage interest: −$1,675
• − Property taxes: −$448
• − Insurance: −$150
• − Repairs & maintenance: −$1,236
• − Management: −$1,236
• − Depreciation: −$870
• Taxable income: $9,839
• Est. tax owed @ 24.0%: −$2,361
• After-tax cash flow: $7,368/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: Belleville Twp Hsd 201
• NCES district ID: 1705640
• Math proficiency: 21% ▼ -8.00%
• Reading proficiency: 28% ▼ -3.00%
• Median HH income: $58,064
• Composite: 22.39/100
• National rank: #8115
• State rank: #308 of 620 in IL

Livability — Belleville

• Score: 78/100
• State rank: #142
• US rank: #2604

Category grades

Amenities D- Commute A+ Cost of living A+ Crime F Employment C+ Housing A+ Health & safety C+ User ratings C+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Belleville, IL
• County: Saint Clair County · 169,691 people
• City population: 47,407
• Metro: St. Louis, MO-IL
• Population (ZIP): 28,255
• Household income: $70,797
• Rent vs Own: 33.0% rent · 67.0% own
• Severe rent burden: 824.0

Population outlook (St. Clair County) Hauer SSP2

• Today (2025): 250,366 people
• By 2030: 240,511 · -3.9%
• By 2040: 217,391 · -13.2%
• By 2050: 192,699 · -23.0%
• By 2075: 140,637 · -43.8%
• By 2100: 100,499 · -59.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Black 24% Two or more races 7% Hispanic / Latino 3% Asian 2%
• Common ancestry: Romanian 4% Lithuanian 2% Slovak 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 96% English-only · Chinese 1% Spanish 1%

Political lean MEDSL · St. Clair

• 2024 margin: Lean D (+7.9) · D 53.0% · R 45.1% · Other 1.8%
• 2008→2024 swing: -14.6pp toward R · 2008: 22.4pp · 2024: 7.9pp
• All cycles: 2024: D+7.9 2020: D+8.7 2016: D+5.6 2012: D+14.5 2008: D+22.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -83.57%
• Current HPI: 133.9028
• Rent YoY: ▲ 4.56%
• 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 event — show timeline

• 2026-04-29 Listed $32,000 MARIS as Distributed by MLS Grid

Property tax history

+27.2%/yr

Latest (2024): $3,032 · -5.8% YoY. Source: county tax records.