232 Springdale Dr · Belleville, IL 62223

$185,000

3 bd · 3.0 ba · 1,140 sqft · SingleFamily public records · 2 Days on market

Built 1957 0.29 ac lot Est $176k · 5% over

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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).

• Appreciation +9.8/10.0
• Cash flow +8.1/30.0
• ARV discount +5.1/15.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• DSCR +2.1/10.0
• 1% rule +1.9/10.0

Listing remarks MLS

You must check out this beautiful home! 232 Springdale Drive sits on a large corner lot in The Ogles subdivision. This home has a huge backyard with a patio enclosed in a 6 foot privacy fence. Refinished hardwood floors throughout living, dining and all three bedrooms. Updated light fixtures and neutral paint colors throughout the home. The home offers an oversized, attached two car garage; a spacious laundry room with lots of room for storage! Brand new HVAC system recently installed. This home is close to dining and shopping. This home is move in ready and ready to be yours! Schedule your private showing today!

Key facts

• 0.29 acre lot
• 2 garage spots
• Built 1957

Property features AI

Finance

• Other: Home warranty included
• Financial info: Lease not considered

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water; Public sewer; Electric service by Ameren; Natural gas connected
• Home design: Single-family residence; One level
• Construction: Brick construction
• Exterior features: Back yard; Front yard; Corner lot; Wood fence in back yard

Interior

• Kitchen: Kitchen on main level (approx. 11x11)
• Bedrooms: 3 bedrooms, all on the main level (sizes approx. 12x11, 11x10, 11x9)
• Bathrooms: 1 full bath and 1 half bath (both on the main level)
• Heating & cooling: Forced air heating (natural gas); Central air conditioning (electric)
• Interior features: 8 total rooms; Dining room; Living room
• Laundry & utility: Utilities connected: electricity, natural gas, water, sewer; cable and phone available

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $-180 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $153k (17.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $129k (30.5% below list).
• Recommended offer: $129k (30.5% below list) — sets the bar for 1% rule.

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: 103 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 783 units permitted in St. Clair County in 2024 (378 in 5+ unit buildings).

Forward outlook

• In year one you build about $19k of equity ($1k loan paydown + $18k appreciation (9.5% local appreciation)).
• St. Clair County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 9y ago 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 $92k; list at $185k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1957 — 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 $128,567 (30.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1957 — 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: 0.69% ✗
• Cap rate: 5.13%
• Cash-on-cash: -4.17%
• DSCR: 0.81
• GRM: 12.0

CMA / ARV

• ARV (on-the-fly): $175,560
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
204 Southgate Dr	0.16mi	3/1.0	1,152 (+1%)	1mo	$195,000	$169	82
412 Longview Dr	0.19mi	3/1.5	1,120 (-2%)	5mo	$190,000	$170	78
311 Chevy Chase Dr	0.33mi	3/2.5	1,176 (+3%)	1mo	$245,000	$208	76
140 Willow Creek Rd	0.22mi	3/2.0	1,048 (-8%)	4mo	$129,900	$124	69
408 Southgate Dr	0.18mi	2/1.0 (-1)	1,068 (-6%)	2mo	$159,500	$149	66
425 S 47th St	0.41mi	2/1.0 (-1)	1,116 (-2%)	3mo	$78,000	$70	62
13 Chamberlain Ct	0.47mi	2/1.0 (-1)	1,110 (-3%)	1mo	$165,000	$149	60
209 Southgate Dr	0.19mi	3/1.5	1,302 (+14%)	5mo	$200,000	$154	58
233 Sunset Dr	0.72mi	3/1.0	1,183 (+4%)	0mo	$159,900	$135	52
6100 N Belt W	0.35mi	3/1.0	974 (-15%)	2mo	$169,900	$174	50
28 Berkshire Dr	0.74mi	3/2.0	1,224 (+7%)	0mo	$220,000	$180	49
1218 Express Dr	0.60mi	3/1.5	991 (-13%)	1mo	$115,000	$116	43

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

9.5% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.2%
• Equity multiple: 2.60×
• Total profit: $82,953
• Equity at exit: $159,952

10-year hold

• IRR: 18.5%
• Equity multiple: 5.86×
• Total profit: $251,722
• Equity at exit: $338,044

Cash invested: $51,800 (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 62223

• Home prices YoY: 3.8%
• Active inventory: 103
• Price-to-rent: 12.0×

Monthly cashflow live

• Estimated rent: $1,286 high
• Mortgage (P&I): −$970
• Tax from tax record: −$148 /mo · $1,781/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$270
• Net cashflow: $-180

Break-even live

Break-even rent $1,514

Max offer price $153,204

Occupancy floor —

Sensitivity live

Price	-10% $-75	-5% $-128	+0% $-180	+5% $-232	+10% $-285
Rent	-10% $-282	-5% $-231	+0% $-180	+5% $-129	+10% $-78
Rate	-1.0pp $-87	-0.5pp $-133	base $-180	+0.5pp $-228	+1.0pp $-277

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6105 W Washington St Belleville, IL	3.0	1.5	1120	$1,575	$1.41	24d	1	0.32mi
7235 Westfield Plaza Dr Belleville, IL	1.0–2.0	1.0	795	$975	$1.23	3d	1	0.74mi
920 S 74th St Belleville, IL	2.0	1.0	1300	$1,400	$1.08	13d	1	0.75mi
219 Freedom Dr Unit 232-Q Belleville, IL	2.0	1.0	936	$895	$0.96	18d	1	0.77mi
219 Freedom Dr Unit 228-G Belleville, IL	2.0	1.0	936	$895	$0.96	5d	1	0.77mi
219 Freedom Dr Unit 232-B Belleville, IL	2.0	1.0	936	$895	$0.96	24d	1	0.77mi
219 Freedom Dr Unit 228-P Belleville, IL	2.0	1.0	936	$970	$1.04	24d	1	0.77mi
4824 Bier St Belleville, IL	4.0	1.0	1200	$1,350	$1.12	4d	1	0.84mi
56 Friendly Dr Belleville, IL	2.0	1.0	1000	$1,550	$1.55	24d	1	1.00mi
5784 Brett Michael Ln Belleville, IL	1.0–2.0	1.0–2.0	801	$1,195	$1.49	8d	7	1.18mi

Listing history 11 events

1. 2026-05-22
   status Pending
2. 2026-05-21
   listed $185,000 Active
3. 2026-05-20
   historical $185,000
4. 2017-06-23
   soldstatus $92,500
5. 2017-06-20
   soldstatus Closed 620-char remark

   Show marketing remark (620 chars)

   You must check out this beautiful home! 232 Springdale Drive sits on a large corner lot in The Ogles subdivision. This home has a huge backyard with a patio enclosed in a 6 foot privacy fence. Refinished hardwood floors throughout living, dining and all three bedrooms. Updated light fixtures and neutral paint colors throughout the home. The home offers an oversized, attached two car garage; a spacious laundry room with lots of room for storage! Brand new HVAC system recently installed. This home is close to dining and shopping. This home is move in ready and ready to be yours! Schedule your private showing today!

6. 2017-05-22
   status Pending 620-char remark

   Show marketing remark (620 chars)

   You must check out this beautiful home! 232 Springdale Drive sits on a large corner lot in The Ogles subdivision. This home has a huge backyard with a patio enclosed in a 6 foot privacy fence. Refinished hardwood floors throughout living, dining and all three bedrooms. Updated light fixtures and neutral paint colors throughout the home. The home offers an oversized, attached two car garage; a spacious laundry room with lots of room for storage! Brand new HVAC system recently installed. This home is close to dining and shopping. This home is move in ready and ready to be yours! Schedule your private showing today!

7. 2017-04-10
   price $99,900 620-char remark

   Show marketing remark (620 chars)

   You must check out this beautiful home! 232 Springdale Drive sits on a large corner lot in The Ogles subdivision. This home has a huge backyard with a patio enclosed in a 6 foot privacy fence. Refinished hardwood floors throughout living, dining and all three bedrooms. Updated light fixtures and neutral paint colors throughout the home. The home offers an oversized, attached two car garage; a spacious laundry room with lots of room for storage! Brand new HVAC system recently installed. This home is close to dining and shopping. This home is move in ready and ready to be yours! Schedule your private showing today!

8. 2017-03-02
   price $104,900 620-char remark

   Show marketing remark (620 chars)

   You must check out this beautiful home! 232 Springdale Drive sits on a large corner lot in The Ogles subdivision. This home has a huge backyard with a patio enclosed in a 6 foot privacy fence. Refinished hardwood floors throughout living, dining and all three bedrooms. Updated light fixtures and neutral paint colors throughout the home. The home offers an oversized, attached two car garage; a spacious laundry room with lots of room for storage! Brand new HVAC system recently installed. This home is close to dining and shopping. This home is move in ready and ready to be yours! Schedule your private showing today!

9. 2017-03-01
   listed $99,900 Active 620-char remark

   Show marketing remark (620 chars)

   You must check out this beautiful home! 232 Springdale Drive sits on a large corner lot in The Ogles subdivision. This home has a huge backyard with a patio enclosed in a 6 foot privacy fence. Refinished hardwood floors throughout living, dining and all three bedrooms. Updated light fixtures and neutral paint colors throughout the home. The home offers an oversized, attached two car garage; a spacious laundry room with lots of room for storage! Brand new HVAC system recently installed. This home is close to dining and shopping. This home is move in ready and ready to be yours! Schedule your private showing today!

10. 2010-04-01
    soldstatus $107,500
11. 2000-07-12
    soldstatus $86,000

ⓘ 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: $1,781 · $148/mo
• Projected year-2 tax: $2,990 · $249/mo
• Expected delta: +$1,209/yr (+$101/mo · 67.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low 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: $15,428
• − Mortgage interest: −$10,363
• − Property taxes: −$1,781
• − Insurance: −$925
• − Repairs & maintenance: −$1,234
• − Management: −$1,234
• − Depreciation: −$5,382
• Taxable loss: −$5,491
• Est. tax savings @ 24.0%: +$1,318
• After-tax cash flow: $-842/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): 16,269
• Household income: $73,700
• Rent vs Own: 23.6% rent · 76.4% own
• Severe rent burden: 656.0

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 (62%)
• Race & ethnicity: White 62% Black 27% Two or more races 9% Hispanic / Latino 4%
• Common ancestry: Romanian 3% Lithuanian 3% Slovak 2%
• Foreign-born: 2% · Canada, Guatemala
• Languages at home: 96% English-only · Spanish 2%

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: ▲ 9.50%
• Current HPI: 259.15
• Rent YoY: —
• 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

+115.1% since first listed

11 events — show timeline

• 2026-05-22 Pending — MARIS as Distributed by MLS Grid
• 2026-05-21 Listed $185,000 MARIS as Distributed by MLS Grid
• 2026-05-20 Coming Soon $185,000 MARIS as Distributed by MLS Grid
• 2017-06-23 Sold (Public Records) $92,500 Public Records
• 2017-06-20 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2017-05-22 Pending — MARIS as Distributed by MLS Grid
• 2017-04-10 Price Changed $99,900 MARIS as Distributed by MLS Grid
• 2017-03-02 Price Changed $104,900 MARIS as Distributed by MLS Grid
• 2017-03-01 Listed $99,900 MARIS as Distributed by MLS Grid
• 2010-04-01 Sold (Public Records) $107,500 Public Records
• 2000-07-12 Sold (Public Records) $86,000 Public Records

Property tax history

-4.1%/yr

Latest (2024): $1,781 · -4.7% YoY. Source: county tax records.