202 Wabash Ave · Belleville, IL 62220

$140,000

6 bd · 4.0 ba · 926 sqft · SingleFamily public records · 359 Days on market

Built 1893 4,356 sqft lot

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Why this score? — see what drove the C+ 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 +24.5/30.0
• DSCR +7.9/10.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• Rent growth +5.0/5.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

INVESTOR ALERT!!! This property cash flows immediately! This duplex is located near downtown Belleville just a few blocks from Main street where all of the local shops, restaurants and various festivities are held. Both units have passed city inspections and are currently rented with potential long term tenants. 202A has 2beds/1bath and 202B has 2beds/1bath as well. They are rented for $600 and $600 per month respectively for a total of $1,200 per month. The property does need a little TLC (mostly exterior) but nothing urgent. Owner pays for water, trash and sewer. Property to be sold “as is." Please do not enter property or disturb tenants without a confirmed appointment.

Key facts

• 4,356 sq ft lot
• Built 1893
• Listed 358 days

Property features AI

Finance

• Other: Two total dwelling units, both currently leased
• Financial info: No second mortgage on record
• HOA & community: Community contains 2 units

Exterior

• Utilities: Public water
• Home design: Residential income property; Single building with multiple units
• Exterior features: 0.1-acre lot

Interior

• Bedrooms: Two 1-bedroom units and two 2-bedroom units (multi-unit property)
• Bathrooms: Each unit includes one bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Basement present

What this means for you Summary

Snapshot

• This is a 6-bed/4.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $287 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.8% 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-East (math 23% / reading 30%, grade F, #241 of 693 statewide, top 35%, 2,568 students, 0% FRL).
• Market conditions: Rents rising fast (+14.5%/yr); 148 active listings in the ZIP; 783 units permitted in St. Clair County in 2024 (378 in 5+ unit buildings).
• This rent runs 30% of the median local income ($66k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $968 of loan paydown is wiped out by about $4k 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 + 8.0% rent growth), your $39k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 359 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 3y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1893 — 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 $123,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 359 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 1893 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.18% ✓
• Cap rate: 8.76%
• Cash-on-cash: 8.80%
• DSCR: 1.39
• GRM: 7.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 2.8%
• Equity multiple: 1.11×
• Total profit: $4,436
• Equity at exit: $20,874

10-year hold

• IRR: 16.8%
• Equity multiple: 2.72×
• Total profit: $67,519
• Equity at exit: $12,105

Cash invested: $39,200 (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 62220

• Home prices YoY: -26.4%
• Rents YoY: 14.5%
• Active inventory: 148
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,656 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$229 /mo · $2,743/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$348
• Net cashflow: $287

Break-even live

Break-even rent $1,293

Max offer price $140,000

Occupancy floor 78%

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-02
   days on market $140,000 Active 359 DOM
2. 2026-06-01
   days on market $140,000 Active 358 DOM
3. 2026-05-31
   days on market $140,000 Active 357 DOM
4. 2026-01-08
   price $140,000
5. 2025-09-17
   price $147,000
6. 2025-08-19
   price $148,500
7. 2025-06-09
   listed $150,000 Active
8. 2025-06-08
   historical $150,000
9. 2025-03-05
   historical $850
10. 2025-01-16
    historical $850
11. 2025-01-16
    listed $850
12. 2025-01-04
    listed $900
13. 2025-01-03
    historical $900
14. 2024-12-10
    historical $900
15. 2024-12-10
    listed $900
16. 2024-11-07
    listed $900
17. 2023-08-07
    soldstatus Closed 692-char remark

    Show marketing remark (692 chars)

    INVESTOR ALERT!!! This property cash flows immediately! This duplex is located near downtown Belleville just a few blocks from Main street where all of the local shops, restaurants and various festivities are held. Both units have passed city inspections and are currently rented with potential long term tenants. 202A has 2beds/1bath and 202B has 2beds/1bath as well. They are rented for $600 and $600 per month respectively for a total of $1,200 per month. The property does need a little TLC (mostly exterior) but nothing urgent. Owner pays for water, trash and sewer. Property to be sold “as is." Please do not enter property or disturb tenants without a confirmed appointment.

18. 2023-06-09
    status Pending 692-char remark

    Show marketing remark (692 chars)

    INVESTOR ALERT!!! This property cash flows immediately! This duplex is located near downtown Belleville just a few blocks from Main street where all of the local shops, restaurants and various festivities are held. Both units have passed city inspections and are currently rented with potential long term tenants. 202A has 2beds/1bath and 202B has 2beds/1bath as well. They are rented for $600 and $600 per month respectively for a total of $1,200 per month. The property does need a little TLC (mostly exterior) but nothing urgent. Owner pays for water, trash and sewer. Property to be sold “as is." Please do not enter property or disturb tenants without a confirmed appointment.

19. 2023-06-07
    status Active 692-char remark

    Show marketing remark (692 chars)

    INVESTOR ALERT!!! This property cash flows immediately! This duplex is located near downtown Belleville just a few blocks from Main street where all of the local shops, restaurants and various festivities are held. Both units have passed city inspections and are currently rented with potential long term tenants. 202A has 2beds/1bath and 202B has 2beds/1bath as well. They are rented for $600 and $600 per month respectively for a total of $1,200 per month. The property does need a little TLC (mostly exterior) but nothing urgent. Owner pays for water, trash and sewer. Property to be sold “as is." Please do not enter property or disturb tenants without a confirmed appointment.

20. 2023-06-04
    status Pending 692-char remark

    Show marketing remark (692 chars)

    INVESTOR ALERT!!! This property cash flows immediately! This duplex is located near downtown Belleville just a few blocks from Main street where all of the local shops, restaurants and various festivities are held. Both units have passed city inspections and are currently rented with potential long term tenants. 202A has 2beds/1bath and 202B has 2beds/1bath as well. They are rented for $600 and $600 per month respectively for a total of $1,200 per month. The property does need a little TLC (mostly exterior) but nothing urgent. Owner pays for water, trash and sewer. Property to be sold “as is." Please do not enter property or disturb tenants without a confirmed appointment.

21. 2023-05-31
    historical 692-char remark

    Show marketing remark (692 chars)

    INVESTOR ALERT!!! This property cash flows immediately! This duplex is located near downtown Belleville just a few blocks from Main street where all of the local shops, restaurants and various festivities are held. Both units have passed city inspections and are currently rented with potential long term tenants. 202A has 2beds/1bath and 202B has 2beds/1bath as well. They are rented for $600 and $600 per month respectively for a total of $1,200 per month. The property does need a little TLC (mostly exterior) but nothing urgent. Owner pays for water, trash and sewer. Property to be sold “as is." Please do not enter property or disturb tenants without a confirmed appointment.

22. 2023-05-26
    listed $73,000 Active 692-char remark

    Show marketing remark (692 chars)

    INVESTOR ALERT!!! This property cash flows immediately! This duplex is located near downtown Belleville just a few blocks from Main street where all of the local shops, restaurants and various festivities are held. Both units have passed city inspections and are currently rented with potential long term tenants. 202A has 2beds/1bath and 202B has 2beds/1bath as well. They are rented for $600 and $600 per month respectively for a total of $1,200 per month. The property does need a little TLC (mostly exterior) but nothing urgent. Owner pays for water, trash and sewer. Property to be sold “as is." Please do not enter property or disturb tenants without a confirmed appointment.

23. 2023-05-19
    historical $73,000 692-char remark

    Show marketing remark (692 chars)

    INVESTOR ALERT!!! This property cash flows immediately! This duplex is located near downtown Belleville just a few blocks from Main street where all of the local shops, restaurants and various festivities are held. Both units have passed city inspections and are currently rented with potential long term tenants. 202A has 2beds/1bath and 202B has 2beds/1bath as well. They are rented for $600 and $600 per month respectively for a total of $1,200 per month. The property does need a little TLC (mostly exterior) but nothing urgent. Owner pays for water, trash and sewer. Property to be sold “as is." Please do not enter property or disturb tenants without a confirmed appointment.

24. 2015-07-14
    soldstatus $133,000
25. 1993-12-08
    soldstatus $30,473

ⓘ 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: $2,743 · $229/mo
• Projected year-2 tax: $2,960 · $247/mo
• Expected delta: +$218/yr (+$18/mo · 7.9%)

ⓘ 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 · 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: $19,877
• − Mortgage interest: −$7,842
• − Property taxes: −$2,743
• − Insurance: −$700
• − Repairs & maintenance: −$1,590
• − Management: −$1,590
• − Depreciation: −$4,073
• Taxable income: $1,339
• Est. tax owed @ 24.0%: −$321
• After-tax cash flow: $3,129/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): 19,152
• Household income: $65,952
• Rent vs Own: 37.0% rent · 63.0% own
• Severe rent burden: 923.0

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: Predominantly White (67%)
• Race & ethnicity: White 67% Black 22% Two or more races 6% Hispanic / Latino 3% Asian 1%
• Common ancestry: Lithuanian 2% Slovak 2% Romanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Arabic 2% Spanish 1% Other Indo-European 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: ▼ -52.27%
• Current HPI: 145.9237
• Rent YoY: ▲ 14.47%
• 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

+359.4% since first listed

22 events — show timeline

• 2026-01-08 Price Changed $140,000 MARIS as Distributed by MLS Grid
• 2025-09-17 Price Changed $147,000 MARIS as Distributed by MLS Grid
• 2025-08-19 Price Changed $148,500 MARIS as Distributed by MLS Grid
• 2025-06-09 Listed $150,000 MARIS as Distributed by MLS Grid
• 2025-06-08 Coming Soon $150,000 MARIS as Distributed by MLS Grid
• 2025-03-05 Rental Removed $850 MARIS
• 2025-01-16 Rental Removed $850 MARIS
• 2025-01-16 Listed for Rent $850 MARIS
• 2025-01-04 Listed for Rent $900 MARIS
• 2025-01-03 Rental Removed $900 MARIS
• 2024-12-10 Rental Removed $900 MARIS
• 2024-12-10 Listed for Rent $900 MARIS
• 2024-11-07 Listed for Rent $900 MARIS
• 2023-08-07 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2023-06-09 Pending — MARIS as Distributed by MLS Grid
• 2023-06-07 Relisted — MARIS as Distributed by MLS Grid
• 2023-06-04 Pending — MARIS as Distributed by MLS Grid
• 2023-05-31 Delisted — MARIS as Distributed by MLS Grid
• 2023-05-26 Listed $73,000 MARIS as Distributed by MLS Grid
• 2023-05-19 Coming Soon $73,000 MARIS as Distributed by MLS Grid
• 2015-07-14 Sold (Public Records) $133,000 Public Records
• 1993-12-08 Sold (Public Records) $30,473 Public Records

Property tax history

+3.9%/yr

Latest (2024): $2,743 · +8.6% YoY. Source: county tax records.