128 Bonds Ave · East Alton, IL 62024

$24,900

2 bd · 1.0 ba · 1,344 sqft · SingleFamily public records · 78 Days on market

Built 1945 6,420 sqft lot ↓ 29% since listing

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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 +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks

2 bed, 1 bath home with plenty of potential. Perfect project for someone ready to renovate and make it their own.

Key facts

• 6,420 sq ft lot
• Built 1945
• Listed 78 days

Property features AI

Exterior

• Utilities: Public water; Public sewer; Electric service by Ameren
• Home design: Single-family residence; One-story
• Construction: Vinyl siding
• Exterior features: Level lot

Interior

• Bedrooms: Two bedrooms on the main level
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Crawl space basement; Five total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $25k.

Deal economics

• At list price, monthly cash flow is $665 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).
• Recommended offer: $23k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#418 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: commute D+, crime D, amenities F.
• East Alton-Wood River Chsd 14 (suburban): math 10% / reading 20% proficiency, ranked #793 of 919 in IL (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: East Alton-Wood River High Sch (math 8% / reading 12%, grade F, #567 of 693 statewide, top 83%, 537 students, 0% FRL).
• Market conditions: 38 active listings in the ZIP; 4 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $172 of loan paydown is wiped out by about $747 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 + 3.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($23k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $5k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $23,406 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% 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 D 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. 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?
8. 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.
9. 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.
10. 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: 4.26% ✓
• Cap rate: 38.36%
• Cash-on-cash: 114.54%
• DSCR: 6.10
• GRM: 2.0

CMA / ARV

• ARV (on-the-fly): $133,056
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
220 Victory Dr	0.12mi	3/1.0 (+1)	1,344 (0%)	1mo	$112,000	$83	88
101 Bonds Ave	0.07mi	2/1.0	1,222 (-9%)	1mo	$132,000	$108	81
104 Victory Dr	0.09mi	2/1.0	1,160 (-14%)	10mo	$99,900	$86	64
821 Center St	0.52mi	2/2.0	1,352 (+1%)	8mo	$75,000	$55	64
270 Victory Dr	0.17mi	3/2.0 (+1)	1,215 (-10%)	9mo	$172,900	$142	60
104 N Pence St	0.30mi	3/1.5 (+1)	1,204 (-10%)	3mo	$20,000	$17	60
108 Goulding St	0.29mi	3/1.0 (+1)	1,513 (+13%)	8mo	$47,500	$31	54
124 Illinois St	0.66mi	3/2.0 (+1)	1,316 (-2%)	10mo	$149,900	$114	49
116 Haller Ave	0.75mi	2/1.5	1,328 (-1%)	15mo	$134,900	$102	49
615 Bowman Ave	0.65mi	3/2.0 (+1)	1,424 (+6%)	4mo	$139,900	$98	47
508 Washington Ave	0.66mi	3/2.0 (+1)	1,283 (-4%)	23mo	$163,000	$127	34
505 Lincoln Ave	0.68mi	2/1.0	1,159 (-14%)	14mo	$115,000	$99	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.50×
• Total profit: $38,365
• Equity at exit: $3,713

10-year hold

• IRR: —
• Equity multiple: 13.63×
• Total profit: $88,049
• Equity at exit: $2,153

Cash invested: $6,972 (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 62024

• Home prices YoY: -18.8%
• Active inventory: 38
• Price-to-rent: 2.0×

Monthly cashflow live

• Estimated rent: $1,060 medium
• Mortgage (P&I): −$131
• Tax est. 1.5%: −$31 /mo · $374/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$223
• Net cashflow: $665

Break-even live

Break-even rent $218

Max offer price $24,900

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: $6,225
• Closing costs: $747
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
176 S Pence St East Alton, IL	2.0	1.0	1000	$1,100	$1.10	1d	1	0.19mi
140 Illinois St East Alton, IL	2.0	1.0	960	$695	$0.72	1d	1	0.64mi
121 Cardot St East Alton, IL	3.0	1.0	937	$1,200	$1.28	21d	1	1.05mi
3400 Milton Dr Alton, IL	2.0	1.5	972	$1,350	$1.39	4d	1	1.34mi

Listing history 15 events

1. 2026-06-18
   days on market $24,900 Active 78 DOM
2. 2026-06-17
   days on market $24,900 Active 77 DOM
3. 2026-06-16
   days on market $24,900 Active 76 DOM
4. 2026-06-15
   days on market $24,900 Active 75 DOM
5. 2026-06-13
   days on market $24,900 Active 73 DOM
6. 2026-06-12
   days on market $24,900 Active 72 DOM
7. 2026-06-09
   days on market $24,900 Active 69 DOM
8. 2026-06-08
   days on market $24,900 Active 68 DOM
9. 2026-06-07
   days on market $24,900 Active 67 DOM
10. 2026-06-05
    days on market $24,900 Active 65 DOM
11. 2026-05-23
    price $24,900
12. 2026-05-19
    status Active
13. 2026-04-24
    status Pending
14. 2026-02-27
    listed $29,900 Active
15. 1999-04-12
    soldstatus $35,000

ⓘ 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 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: $12,722
• − Mortgage interest: −$1,395
• − Property taxes: −$374
• − Insurance: −$124
• − Repairs & maintenance: −$1,018
• − Management: −$1,018
• − Depreciation: −$724
• Taxable income: $8,070
• Est. tax owed @ 24.0%: −$1,937
• After-tax cash flow: $6,049/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: East Alton-Wood River Chsd 14
• NCES district ID: 1712990
• Math proficiency: 10% ▬ 0.00%
• Reading proficiency: 20% ▬ 0.00%
• Median HH income: $35,977
• Composite: 15.86/100
• National rank: #14315
• State rank: #793 of 919 in IL

Livability — East Alton

• Score: 69/100
• State rank: #418
• US rank: #8569

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: East Alton, IL
• City population: 9,465
• Population (ZIP): 9,465

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 (93%)
• Race & ethnicity: White 93% Two or more races 5% Hispanic / Latino 2% Black 1%
• Common ancestry: Lithuanian 4% Iranian 2% Italian 1%
• Foreign-born: 0%

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: ▼ -50.18%
• Current HPI: 216.1273
• Rent YoY: —
• Metro: —
• 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

-28.9% since first listed

5 events — show timeline

• 2026-05-23 Price Changed $24,900 MARIS as Distributed by MLS Grid
• 2026-05-19 Relisted — MARIS as Distributed by MLS Grid
• 2026-04-24 Pending — MARIS as Distributed by MLS Grid
• 2026-02-27 Listed $29,900 MARIS as Distributed by MLS Grid
• 1999-04-12 Sold (Public Records) $35,000 Public Records

Property tax history

+3.9%/yr

Latest (2024): $1,617 · +8.3% YoY. Source: county tax records.