4521 N Belt West · Belleville, IL 62226

$65,000

2 bd · 2.0 ba · 900 sqft · SingleFamily public records · 129 Days on market

Built 1923 0.32 ac lot Est $75k · 13% 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 +28.4/30.0
• ARV discount +13.3/15.0
• 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 MLS

**Selling As-Is** Home is not cleaned out. Needs a lot of work to become livable. Great investment opportunity! **Broker Owned**

Key facts

• 0.32 acre lot
• Garage
• Built 1923

Property features AI

Exterior

• Parking: 1-car garage
• Utilities: Shared well water; Public sewer; Electric service listed as other
• Home design: Single-family residence; One and one-half levels; House structure; Property listed in fixer condition
• Construction: Frame construction
• Exterior features: Back yard

Interior

• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Forced air heating; No cooling
• Interior features: Unfinished walk-up basement; Wood-burning fireplace in the living room; Forced air heating; No central cooling

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $211 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $57k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.2% 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; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $449 of loan paydown is wiped out by about $2k 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 $18k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 129 days — a 12% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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.

Risks & watch-outs

• Watch-outs: property tax is 4.5% of price; built in 1923 — 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 $57,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 129 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.61% ✓
• Cap rate: 10.19%
• Cash-on-cash: 13.90%
• DSCR: 1.62
• GRM: 5.2

CMA / ARV

• ARV (on-the-fly): $74,700
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
120 N 46th St	0.03mi	2/1.0	1,028 (+14%)	0mo	$40,000	$39	70
3916 Shirley Dr	0.47mi	3/1.0 (+1)	939 (+4%)	1mo	$125,000	$133	61
439 N 39th St	0.49mi	3/1.0 (+1)	864 (-4%)	1mo	$120,000	$139	61
14 N 41st St	0.35mi	2/1.0	986 (+10%)	4mo	$133,000	$135	61
3805 Little Flower Ln	0.52mi	3/1.0 (+1)	864 (-4%)	0mo	$134,900	$156	60
108 S 37th St	0.59mi	2/1.0	840 (-7%)	1mo	$45,000	$54	57
624 Royal Heights Rd	0.61mi	2/1.0	960 (+7%)	3mo	$30,000	$31	54
128 Freedom Dr	0.53mi	3/1.0 (+1)	968 (+8%)	0mo	$75,000	$77	53
652 N 39th St	0.50mi	2/1.0	984 (+9%)	4mo	$64,000	$65	53
435 N 38th St	0.55mi	2/1.0	997 (+11%)	1mo	$50,000	$50	51
640 Devonshire Dr	0.67mi	3/1.0 (+1)	960 (+7%)	0mo	$80,000	$83	48
3700 Michelle Dr	0.54mi	2/1.0	1,034 (+15%)	0mo	$139,900	$135	46

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: 6.4%
• Equity multiple: 1.26×
• Total profit: $4,678
• Equity at exit: $9,692

10-year hold

• IRR: 17.5%
• Equity multiple: 2.59×
• Total profit: $28,889
• Equity at exit: $5,620

Cash invested: $18,200 (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: 190
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,044 high
• Mortgage (P&I): −$341
• Tax from tax record: −$246 /mo · $2,949/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$219
• Net cashflow: $211

Break-even live

Break-even rent $777

Max offer price $65,000

Occupancy floor 75%

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4516 W Main St Belleville, IL	2.0	1.0	607	$850	$1.40	23d	1	0.15mi
56 Friendly Dr Belleville, IL	2.0	1.0	1000	$1,550	$1.55	23d	1	0.26mi
18 S 44th St Belleville, IL	1.0	1.0	550	$700	$1.27	3d	1	0.28mi
18 S 44th St Belleville, IL	1.0	1.0	550	$700	$1.27	14d	1	0.28mi
219 Freedom Dr Unit 232-B Belleville, IL	2.0	1.0	936	$895	$0.96	23d	1	0.47mi
219 Freedom Dr Unit 228-P Belleville, IL	2.0	1.0	936	$970	$1.04	23d	1	0.47mi
219 Freedom Dr Unit 236-M Belleville, IL	1.0	1.0	612	$730	$1.19	2d	1	0.47mi
219 Freedom Dr Unit G-10 Belleville, IL	1.0	1.0	612	$795	$1.30	23d	1	0.47mi
219 Freedom Dr Unit C-05 Belleville, IL	1.0	1.0	612	$795	$1.30	2d	1	0.47mi
219 Freedom Dr Unit 219-U Belleville, IL	1.0	1.0	612	$730	$1.19	23d	1	0.47mi
219 Freedom Dr Unit 228-G Belleville, IL	2.0	1.0	936	$895	$0.96	4d	1	0.47mi
219 Freedom Dr Unit 232-Q Belleville, IL	2.0	1.0	936	$895	$0.96	17d	1	0.47mi
654 N 39th St Belleville, IL	3.0	1.0	984	$1,400	$1.42	17d	1	0.50mi
213 Columbus Dr Belleville, IL	3.0	1.0	1040	$1,650	$1.59	23d	1	0.69mi
1000 Royal Heights Rd Belleville, IL	2.0	1.5	1100	$1,345	$1.22	23d	1	0.79mi
54 Ben Louis Dr Belleville, IL	2.0	1.0	900	$1,145	$1.27	23d	1	1.01mi
5784 Brett Michael Ln Belleville, IL	1.0–2.0	1.0–2.0	801	$1,195	$1.49	7d	7	1.02mi
6105 W Washington St Belleville, IL	3.0	1.5	1120	$1,575	$1.41	23d	1	1.06mi
31 S 27th St Belleville, IL	2.0	1.0	1000	$915	$0.92	23d	1	1.21mi

Listing history 19 events

1. 2026-06-18
   days on market $65,000 Active 129 DOM
2. 2026-06-17
   days on market $65,000 Active 128 DOM
3. 2026-06-16
   days on market $65,000 Active 127 DOM
4. 2026-06-15
   days on market $65,000 Active 126 DOM
5. 2026-06-13
   days on market $65,000 Active 124 DOM
6. 2026-06-09
   days on market $65,000 Active 120 DOM
7. 2026-06-08
   days on market $65,000 Active 119 DOM
8. 2026-06-07
   days on market $65,000 Active 118 DOM
9. 2026-06-03
   days on market $65,000 Active 114 DOM
10. 2026-06-02
    days on market $65,000 Active 113 DOM
11. 2026-06-01
    days on market $65,000 Active 112 DOM
12. 2026-05-31
    days on market $65,000 Active 111 DOM
13. 2026-02-09
    listed $65,000 Active
14. 2026-02-07
    historical $65,000
15. 2025-05-23
    soldstatus Closed 135-char remark

    Show marketing remark (135 chars)

    **Selling As-Is** Home is not cleaned out. Needs a lot of work to become livable. Great investment opportunity! **Broker Owned**

16. 2025-04-14
    status Pending 135-char remark

    Show marketing remark (135 chars)

    **Selling As-Is** Home is not cleaned out. Needs a lot of work to become livable. Great investment opportunity! **Broker Owned**

17. 2025-02-14
    status Active 135-char remark

    Show marketing remark (135 chars)

    **Selling As-Is** Home is not cleaned out. Needs a lot of work to become livable. Great investment opportunity! **Broker Owned**

18. 2024-12-26
    status Pending 135-char remark

    Show marketing remark (135 chars)

    **Selling As-Is** Home is not cleaned out. Needs a lot of work to become livable. Great investment opportunity! **Broker Owned**

19. 2024-12-17
    listed $28,900 Active 135-char remark

    Show marketing remark (135 chars)

    **Selling As-Is** Home is not cleaned out. Needs a lot of work to become livable. Great investment opportunity! **Broker Owned**

ⓘ 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: $2,949 · $246/mo
• Projected year-2 tax: $2,949 · $246/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

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: $12,525
• − Mortgage interest: −$3,641
• − Property taxes: −$2,949
• − Insurance: −$325
• − Repairs & maintenance: −$1,002
• − Management: −$1,002
• − Depreciation: −$1,891
• Taxable income: $1,715
• Est. tax owed @ 24.0%: −$412
• After-tax cash flow: $2,119/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

+124.9% since first listed

7 events — show timeline

• 2026-02-09 Listed $65,000 MARIS as Distributed by MLS Grid
• 2026-02-07 Coming Soon $65,000 MARIS as Distributed by MLS Grid
• 2025-05-23 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2025-04-14 Pending — MARIS as Distributed by MLS Grid
• 2025-02-14 Relisted — MARIS as Distributed by MLS Grid
• 2024-12-26 Pending — MARIS as Distributed by MLS Grid
• 2024-12-17 Listed $28,900 MARIS as Distributed by MLS Grid

Property tax history

+15.4%/yr

Latest (2024): $2,949 · +2.7% YoY. Source: county tax records.