108 S 37th St · Belleville, IL 62226

$45,000

2 bd · 2.0 ba · 810 sqft · SingleFamily public records · 15 Days on market

Built 1942 6,969 sqft lot ↓ 44% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

GREAT STARTER HOME OR INVESTMENT WITH 2 BEDROOMS, 1 BATH, FULL UNFINISHED BASEMENT, FENCED YARD, SHED. CLOSE TO SHOPPING, TRANSPORTATION. Agents must register as a User, enter the property address, and click on “Start Offer”. This property may qualify for Seller Financing (Vendee). If Property was built prior to 1978, Lead Based Paint Potentially Exists BUYER TO VERIFY ALL MLS INFORMATION INCLUDING BUT NOT LIMITED TO SQ. FT, TAXES, ROOM SIZE, ROOM COUNT, SCHOOLS, ETC. ..

Key facts

• Fenced yard
• Close to shopping
• 6,969 sq ft lot

Tags

• FULL UNFINISHED BASEMENT
• FENCED YARD
• CLOSE TO SHOPPING
• CLOSE TO TRANSPORTATION

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $388 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $44k (1.5% below list) — sets the bar for market timing.
• Cap rate 16.6% 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: 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; 17 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 17% 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 $311 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 $13k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($44k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 4.4% of price; built in 1942 — 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 $44,325 (1.5% below list)

Questions for the listing agent

1. Built in 1942 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 2.27% ✓
• Cap rate: 16.65%
• Cash-on-cash: 36.97%
• DSCR: 2.65
• GRM: 3.7

CMA / ARV

• ARV (on-the-fly): $112,590
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
108 S 37th St	0.00mi	2/1.0	840 (+4%)	1mo	$45,000	$54	89
102 S 34th St	0.20mi	2/1.0	806 (-0%)	3mo	$135,000	$167	84
108 S 35th St	0.12mi	1/1.0 (-1)	733 (-10%)	12mo	$85,000	$116	60
439 N 39th St	0.53mi	3/1.0 (+1)	864 (+7%)	1mo	$120,000	$139	55
3805 Little Flower Ln	0.62mi	3/1.0 (+1)	864 (+7%)	0mo	$134,900	$156	51
416 N 40th St	0.58mi	2/1.0	864 (+7%)	9mo	$118,500	$137	50
123 Verne Ave	0.67mi	2/1.0	868 (+7%)	4mo	$135,000	$156	50
3106 Roland Ave	0.36mi	2/1.0	914 (+13%)	10mo	$120,000	$131	50
446 N 39th St	0.56mi	2/2.0	864 (+7%)	18mo	$130,000	$150	48
11 S 44th St	0.40mi	3/1.0 (+1)	894 (+10%)	10mo	$80,000	$89	46
505 N 39th St	0.61mi	2/1.0	864 (+7%)	18mo	$90,000	$104	42
515 N 37th St	0.67mi	3/1.0 (+1)	875 (+8%)	8mo	$125,000	$143	40

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: 35.0%
• Equity multiple: 2.52×
• Total profit: $19,144
• Equity at exit: $6,710

10-year hold

• IRR: 42.7%
• Equity multiple: 5.42×
• Total profit: $55,740
• Equity at exit: $3,891

Cash invested: $12,600 (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 62226

• Rents YoY: 4.6%
• Active inventory: 190
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,022 high
• Mortgage (P&I): −$236
• Tax from tax record: −$164 /mo · $1,971/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$215
• Net cashflow: $388

Break-even live

Break-even rent $530

Max offer price $45,000

Occupancy floor 57%

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18 S 44th St Belleville, IL	1.0	1.0	550	$700	$1.27	3d	1	0.34mi
18 S 44th St Belleville, IL	1.0	1.0	550	$700	$1.27	14d	1	0.34mi
56 Friendly Dr Belleville, IL	2.0	1.0	1000	$1,550	$1.55	23d	1	0.50mi
4516 W Main St Belleville, IL	2.0	1.0	607	$850	$1.40	23d	1	0.54mi
213 Columbus Dr Belleville, IL	3.0	1.0	1040	$1,650	$1.59	23d	1	0.54mi
31 S 27th St Belleville, IL	2.0	1.0	1000	$915	$0.92	23d	1	0.64mi
219 Freedom Dr Unit 228-P Belleville, IL	2.0	1.0	936	$970	$1.04	23d	1	0.72mi
219 Freedom Dr Unit 232-B Belleville, IL	2.0	1.0	936	$895	$0.96	23d	1	0.72mi
219 Freedom Dr Unit 228-G Belleville, IL	2.0	1.0	936	$895	$0.96	4d	1	0.72mi
219 Freedom Dr Unit C-05 Belleville, IL	1.0	1.0	612	$795	$1.30	3d	1	0.72mi
219 Freedom Dr Unit 236-M Belleville, IL	1.0	1.0	612	$730	$1.19	3d	1	0.72mi
219 Freedom Dr Unit G-10 Belleville, IL	1.0	1.0	612	$795	$1.30	23d	1	0.72mi
219 Freedom Dr Unit 219-U Belleville, IL	1.0	1.0	612	$730	$1.19	23d	1	0.72mi
219 Freedom Dr Unit 232-Q Belleville, IL	2.0	1.0	936	$895	$0.96	17d	1	0.72mi
654 N 39th St Belleville, IL	3.0	1.0	984	$1,400	$1.42	17d	1	0.78mi
1000 Royal Heights Rd Belleville, IL	2.0	1.5	1100	$1,345	$1.22	23d	1	1.11mi
54 Ben Louis Dr Belleville, IL	2.0	1.0	900	$1,145	$1.27	23d	1	1.19mi

Listing history 3 events

1. 2026-03-31
   status Pending
2. 2026-03-16
   listed $45,000 Active
3. 2007-05-01
   soldstatus $81,000

ⓘ 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: $1,971 · $164/mo
• Projected year-2 tax: $1,971 · $164/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 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: $12,261
• − Mortgage interest: −$2,521
• − Property taxes: −$1,971
• − Insurance: −$225
• − Repairs & maintenance: −$981
• − Management: −$981
• − Depreciation: −$1,309
• Taxable income: $4,274
• Est. tax owed @ 24.0%: −$1,026
• After-tax cash flow: $3,633/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

-44.4% since first listed

3 events — show timeline

• 2026-03-31 Pending — MARIS as Distributed by MLS Grid
• 2026-03-16 Listed $45,000 MARIS as Distributed by MLS Grid
• 2007-05-01 Sold (Public Records) $81,000 Public Records

Property tax history

+7.0%/yr

Latest (2024): $1,971 · +10.7% YoY. Source: county tax records.