852 E Penning Ave · Wood River, IL 62095

$70,000

2 bd · 1.0 ba · 722 sqft · SingleFamily public records · 4 Days on market

Built 1930 6,250 sqft lot Est $79k · 12% 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 +27.8/30.0
• ARV discount +12.8/15.0
• DSCR +9.8/10.0
• 1% rule +8.3/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

this house is in very bad shape, BUT everything has potential and a purpose. Priced very reasonable for the right person.

Key facts

• Large lot
• Long driveway
• Recent improvements

Tags

• LARGE LOT
• LONG DRIVEWAY
• FENCED FRONT YARD
• RECENT IMPROVEMENTS

Property features AI

Finance

• Financial info: Lease not considered

Exterior

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

Interior

• Kitchen: Electric range; Refrigerator; Stainless steel finishes
• Bedrooms: 1 bedroom on the main level (23 x 10)
• Bathrooms: 1 full bathroom on the main level (8 x 5)
• Heating & cooling: Electric heating; Wall/window air conditioning unit(s)
• Interior features: Stainless steel appliances; Free-standing electric range; Refrigerator
• Laundry & utility: Main-level laundry room (10 x 8)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $214 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($931 rent vs $70k).
• Cap rate 10.0% vs local median 5.9% in Wood River — 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 75/100 on livability (#214 in IL, #4,027 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B; Watch: amenities C-, commute D+, employment D+.
• 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: 33 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 3d 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 ($65k/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 $484 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 + 3.0% rent growth), your $20k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 6y 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 $45k; list at $70k implies a 56% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — 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 $70,000

Questions for the listing agent

1. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.33% ✓
• Cap rate: 9.97%
• Cash-on-cash: 13.13%
• DSCR: 1.58
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $79,420
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
909 Madison Ave	0.23mi	2/1.0	696 (-4%)	6mo	$91,000	$131	78
314 N 3rd St	0.52mi	2/1.0	767 (+6%)	3mo	$144,990	$189	63
823 Tennyson Ave	0.71mi	2/1.0	748 (+4%)	11mo	$69,000	$92	51
545 S 7th St	0.70mi	2/1.0	768 (+6%)	7mo	$125,900	$164	51
469 N 1st St	0.74mi	2/1.0	768 (+6%)	6mo	$74,900	$98	50
531 12th St	0.71mi	2/1.0	763 (+6%)	10mo	$83,900	$110	49
824 Whittier St	0.68mi	2/1.0	672 (-7%)	12mo	$44,900	$67	47
629 Leslie Ave	0.67mi	2/1.0	806 (+12%)	4mo	$135,000	$167	47
634 Mildred Ave	0.55mi	2/1.0	816 (+13%)	8mo	$60,000	$74	46
1440 Ladd Ave	0.58mi	3/1.0 (+1)	816 (+13%)	2mo	$50,000	$61	45
160 E Penning Ave	0.64mi	2/1.0	806 (+12%)	9mo	$39,900	$50	43
514 Hamilton Ave	0.73mi	2/1.0	780 (+8%)	12mo	$119,700	$153	42

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: 3.1%
• Equity multiple: 1.12×
• Total profit: $2,348
• Equity at exit: $10,437

10-year hold

• IRR: 12.7%
• Equity multiple: 2.01×
• Total profit: $19,777
• Equity at exit: $6,052

Cash invested: $19,600 (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 62095

• Home prices YoY: -22.9%
• Active inventory: 33
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $931 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$125 /mo · $1,498/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$196
• Net cashflow: $214

Break-even live

Break-even rent $660

Max offer price $70,000

Occupancy floor 72%

Sensitivity live

Price	-10% $254	-5% $234	+0% $214	+5% $195	+10% $175
Rent	-10% $141	-5% $178	+0% $214	+5% $251	+10% $288
Rate	-1.0pp $250	-0.5pp $232	base $214	+0.5pp $196	+1.0pp $178

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
226 E Lorena Ave Wood River, IL	1.0	1.0	615	$1,150	$1.87	3d	1	0.59mi
111 S Central Ave Roxana, IL	1.0	1.0	600	$650	$1.08	2d	1	1.03mi
103 W 1st St Unit C Roxana, IL	1.0	1.0	700	$650	$0.93	2d	1	1.07mi

Listing history 3 events

1. 2026-06-21
   days on market $70,000 Active 4 DOM
2. 2026-06-17
   remarks 687-char remark
3. 2026-06-17
   listed $70,000 Active 1 DOM

ⓘ 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: $1,498 · $125/mo
• Projected year-2 tax: $1,544 · $129/mo
• Expected delta: +$45/yr (+$4/mo · 3.0%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥107°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: $11,172
• − Mortgage interest: −$3,921
• − Property taxes: −$1,498
• − Insurance: −$350
• − Repairs & maintenance: −$894
• − Management: −$894
• − Depreciation: −$2,036
• Taxable income: $1,579
• Est. tax owed @ 24.0%: −$379
• After-tax cash flow: $2,194/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 — Wood River

• Score: 75/100
• State rank: #214
• US rank: #4027

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wood River, IL
• County: Madison County · 189,064 people
• City population: 10,726
• Metro: St. Louis, MO-IL
• Population (ZIP): 10,726
• Household income: $65,013
• Rent vs Own: 32.2% rent · 67.8% own
• Severe rent burden: 383.0

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 (87%)
• Race & ethnicity: White 87% Black 6% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Lithuanian 2% Romanian 2% Iranian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -64.69%
• Current HPI: 217.1264
• 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

+55.6% since first listed

7 events — show timeline

• 2026-06-17 Listed $70,000 MARIS as Distributed by MLS Grid
• 2026-06-17 Coming Soon $70,000 MARIS as Distributed by MLS Grid
• 2021-03-24 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2021-03-19 Pending — MARIS as Distributed by MLS Grid
• 2021-03-12 Pending — MARIS as Distributed by MLS Grid
• 2020-09-29 Listed $15,000 MARIS as Distributed by MLS Grid
• 2006-09-29 Sold (Public Records) $45,000 Public Records

Property tax history

+14.7%/yr

Latest (2024): $1,498 · +5.5% YoY. Source: county tax records.