120 N 46th St · Belleville, IL 62226

$40,000

2 bd · 2.0 ba · 888 sqft · SingleFamily public records · 42 Days on market

Built 1929 0.26 ac lot Est $74k · 46% under

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

This is a 2 Bedroom 1 Bath with an Eat in Kitchen and a full Basement. . Detached 1 car Garage. .. Needs TLC

Key facts

• 0.26 acre lot
• Garage
• Built 1929

Property features AI

Finance

• Financial info: Lease not considered

Exterior

• Parking: 1-car garage
• Utilities: Public water; Public sewer; Electricity connected (single phase)
• Home design: Single-family residential; One story
• Construction: Frame construction
• Exterior features: City lot

Interior

• Kitchen: Kitchen on the main level
• Bedrooms: 2 bedrooms (both on the main level)
• Bathrooms: 1 full bathroom (on the main level)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Full basement; 5 total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $542 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Recommended offer: $39k (3.0% below list) — sets the bar for market timing.
• Cap rate 22.6% 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: Abraham Lincoln Elem School (math 9% / reading 14%, grade F, #1,457 of 2,056 statewide, top 71%, 512 students, 0% FRL); West Jr High School (math 11% / reading 22%, grade F, #482 of 665 statewide, top 73%, 422 students, 0% FRL); 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); 189 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 783 units permitted in St. Clair County in 2024 (378 in 5+ unit buildings).
• This rent is only 18% of the median local income ($71k/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 $277 of loan paydown is wiped out by about $1k 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 $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($39k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $24k; list at $40k implies a 67% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1929 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $38,800 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 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 1929 — 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. 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.
6. 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.
7. 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: 2.59% ✓
• Cap rate: 22.57%
• Cash-on-cash: 58.11%
• DSCR: 3.59
• GRM: 3.2

CMA / ARV

• ARV (on-the-fly): $73,704
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
439 N 39th St	0.51mi	3/1.0 (+1)	864 (-3%)	1mo	$120,000	$139	62
3805 Little Flower Ln	0.53mi	3/1.0 (+1)	864 (-3%)	0mo	$134,900	$156	61
3916 Shirley Dr	0.47mi	3/1.0 (+1)	939 (+6%)	1mo	$125,000	$133	59
108 S 37th St	0.62mi	2/1.0	840 (-5%)	1mo	$45,000	$54	57
14 N 41st St	0.39mi	2/1.0	986 (+11%)	4mo	$133,000	$135	57
800 N 39th St	0.52mi	3/1.0 (+1)	840 (-5%)	5mo	$119,900	$143	54
1009 Royal Heights Rd	0.72mi	3/1.0 (+1)	900 (+1%)	5mo	$34,900	$39	51
624 Royal Heights Rd	0.62mi	2/1.0	960 (+8%)	3mo	$30,000	$31	51
652 N 39th St	0.51mi	2/1.0	984 (+11%)	4mo	$64,000	$65	50
128 Freedom Dr	0.55mi	3/1.0 (+1)	968 (+9%)	0mo	$75,000	$77	50
435 N 38th St	0.58mi	2/1.0	997 (+12%)	1mo	$50,000	$50	48
640 Devonshire Dr	0.68mi	3/1.0 (+1)	960 (+8%)	0mo	$80,000	$83	45

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: 58.4%
• Equity multiple: 3.65×
• Total profit: $29,732
• Equity at exit: $5,964

10-year hold

• IRR: 63.8%
• Equity multiple: 7.91×
• Total profit: $77,436
• Equity at exit: $3,458

Cash invested: $11,200 (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: 189
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $1,036 high
• Mortgage (P&I): −$210
• Tax est. 1.5%: −$50 /mo · $600/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$218
• Net cashflow: $542

Break-even live

Break-even rent $350

Max offer price $40,000

Occupancy floor 43%

Sensitivity live

Price	-10% $570	-5% $556	+0% $542	+5% $529	+10% $515
Rent	-10% $461	-5% $501	+0% $542	+5% $583	+10% $624
Rate	-1.0pp $563	-0.5pp $553	base $542	+0.5pp $532	+1.0pp $521

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4516 W Main St Belleville, IL	2.0	1.0	607	$850	$1.40	25d	1	0.15mi
56 Friendly Dr Belleville, IL	2.0	1.0	1000	$1,550	$1.55	25d	1	0.26mi
18 S 44th St Belleville, IL	1.0	1.0	550	$700	$1.27	16d	1	0.28mi
18 S 44th St Belleville, IL	1.0	1.0	550	$700	$1.27	5d	1	0.28mi
219 Freedom Dr Unit 228-P Belleville, IL	2.0	1.0	936	$970	$1.04	25d	1	0.47mi
219 Freedom Dr Unit 232-B Belleville, IL	2.0	1.0	936	$895	$0.96	25d	1	0.47mi
219 Freedom Dr Unit 236-M Belleville, IL	1.0	1.0	612	$730	$1.19	4d	1	0.47mi
219 Freedom Dr Unit 232-Q Belleville, IL	2.0	1.0	936	$895	$0.96	19d	1	0.47mi
219 Freedom Dr Unit C-05 Belleville, IL	1.0	1.0	612	$795	$1.30	4d	1	0.47mi
219 Freedom Dr Unit 238-I Belleville, IL	2.0	1.0	936	$895	$0.96	0d	1	0.47mi
219 Freedom Dr Unit 219-U Belleville, IL	1.0	1.0	612	$730	$1.19	25d	1	0.47mi
219 Freedom Dr Unit 228-G Belleville, IL	2.0	1.0	936	$895	$0.96	6d	1	0.47mi
219 Freedom Dr Unit G-10 Belleville, IL	1.0	1.0	612	$795	$1.30	25d	1	0.47mi
654 N 39th St Belleville, IL	3.0	1.0	984	$1,400	$1.42	19d	1	0.50mi
213 Columbus Dr Belleville, IL	3.0	1.0	1040	$1,650	$1.59	25d	1	0.69mi
1000 Royal Heights Rd Belleville, IL	2.0	1.5	1100	$1,345	$1.22	25d	1	0.79mi
54 Ben Louis Dr Belleville, IL	2.0	1.0	900	$1,145	$1.27	25d	1	1.01mi
5784 Brett Michael Ln Belleville, IL	1.0–2.0	1.0–2.0	801	$1,195	$1.49	0d	5	1.02mi
6105 W Washington St Belleville, IL	3.0	1.5	1120	$1,575	$1.41	25d	1	1.06mi
31 S 27th St Belleville, IL	2.0	1.0	1000	$915	$0.92	25d	1	1.21mi

Listing history 7 events

1. 2026-06-02
   statusdays on market $40,000 Pending 42 DOM
2. 2026-06-01
   days on market $40,000 Active 41 DOM
3. 2026-06-01
   price $40,000 Active 40 DOM
4. 2026-05-31
   days on market $50,000 Active 40 DOM
5. 2026-04-21
   listed $50,000 Active
6. 2026-04-21
   historical $50,000
7. 2011-11-04
   soldstatus $24,000

ⓘ 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 ≥107°F today · 22 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: $12,438
• − Mortgage interest: −$2,241
• − Property taxes: −$600
• − Insurance: −$200
• − Repairs & maintenance: −$995
• − Management: −$995
• − Depreciation: −$1,164
• Taxable income: $6,244
• Est. tax owed @ 24.0%: −$1,498
• After-tax cash flow: $5,010/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

+108.3% since first listed

3 events — show timeline

• 2026-04-21 Listed $50,000 MARIS as Distributed by MLS Grid
• 2026-04-21 Coming Soon $50,000 MARIS as Distributed by MLS Grid
• 2011-11-04 Sold (Public Records) $24,000 Public Records

Property tax history

+1.4%/yr

Latest (2024): $2,491 · +2.4% YoY. Source: county tax records.