2323 Edison Ave · Granite City, IL 62040

$99,900

3 bd · 1.0 ba · 1,050 sqft · SingleFamily public records · 5 Days on market

Built 1930 4,373 sqft lot $95/sqft · at area comps Est $98k · at est.

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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 +24.8/30.0
• DSCR +8.0/10.0
• 1% rule +7.3/10.0
• ARV discount +6.5/15.0
• Livability +3.2/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This home is a two bedroom, but also has a large room with a closet that can be used as a spare bedroom, office or family room. Many updates, including paint, lighting and some carpet. The front enclosed porch makes a great addition to enjoy your morning coffee and watch the sun rise. A generously sized pantry off the kitchen includes built ins and the full basement allows for extra storage. In the backyard, you will find a fully fenced yard and a detached garage. Home has passed city occupancy and is ready to move-in.

Key facts

• New furnace
• Full fenced yard
• Enclosed porch

Tags

• NEW ROOF
• NEW FURNACE
• NEW AC
• ENCLOSED PORCH
• LARGE PANTRY
• FULL FENCED YARD

Property features AI

Other

• Location: 2323 Edison Ave, Granite City, IL 62040
• Home information: Living area approximately 1,050 (above grade); Basement present (block); No pool

Finance

• Financial info: Lease not considered

Exterior

• Utilities: Public water; Public sewer; Electric service by Ameren; Natural gas connected
• Home design: Single-family residence; One level
• Construction: Built with Other construction materials
• Exterior features: Landscaped lot

Interior

• Kitchen: Kitchen on the main level
• Bedrooms: 3 bedrooms, all on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Living room; Dining room; Basement with block construction
• Laundry & utility: Utilities connected: electricity, natural gas, water, sewer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $210 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Cap rate 8.8% vs local median 7.0% in Granite City — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 65/100 on livability (#623 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Granite City CUSD 9 (suburban): math 9% / reading 11% proficiency, ranked #570 of 620 in IL (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Granite City High School (math 10% / reading 12%, grade F, #522 of 693 statewide, top 76%, 1,805 students, 0% FRL) — zoned schools average 0% FRL vs 59% district-wide (59 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+1.7%/yr); 191 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 336 units permitted in Madison County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k 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.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 4y 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 $77k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1930 — 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 $99,900

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. 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: 1.23% ✓
• Cap rate: 8.82%
• Cash-on-cash: 9.01%
• DSCR: 1.40
• GRM: 6.8

CMA / ARV

• ARV (median comp): $97,707
• List price: $99,900
• Delta: 2.24%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2323 Edison Ave	0.00mi	3/1.0	1,050 (0%)	0mo	$99,900	$95	100
2440 Iowa St	0.31mi	3/1.0	1,052 (+0%)	3mo	$59,900	$57	82
2254 Lee Ave	0.41mi	3/2.0	1,053 (+0%)	5mo	$35,000	$33	72
906 24th St	0.27mi	3/1.0	1,152 (+10%)	5mo	$82,000	$71	67
2544 Adams St	0.41mi	2/2.0 (-1)	1,080 (+3%)	3mo	$135,000	$125	65
2300 Edwards St	0.50mi	2/2.0 (-1)	1,026 (-2%)	2mo	$99,900	$97	63
2201 Hodges Ave	0.45mi	3/1.0	1,170 (+11%)	5mo	$75,000	$64	56
2428 Iowa St	0.30mi	2/1.0 (-1)	912 (-13%)	5mo	$90,000	$99	55
2653 Grand Ave	0.55mi	2/1.0 (-1)	954 (-9%)	1mo	$142,000	$149	53
1027 21st St	0.44mi	2/1.0 (-1)	1,190 (+13%)	2mo	$17,000	$14	50
2533 Iowa St	0.41mi	4/1.5 (+1)	1,191 (+13%)	5mo	$29,500	$25	47
2311 E 25th St	0.50mi	2/2.0 (-1)	896 (-15%)	2mo	$99,000	$110	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 · 1.67% rent growth · sell at horizon

5-year hold

• IRR: -4.2%
• Equity multiple: 0.84×
• Total profit: $-4,374
• Equity at exit: $14,895

10-year hold

• IRR: 3.8%
• Equity multiple: 1.26×
• Total profit: $7,190
• Equity at exit: $8,638

Cash invested: $27,972 (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 62040

• Home prices YoY: -21.8%
• Rents YoY: 1.7%
• Active inventory: 191
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,225 high
• Mortgage (P&I): −$524
• Tax from tax record: −$193 /mo · $2,310/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$257
• Net cashflow: $210

Break-even live

Break-even rent $960

Max offer price $99,900

Occupancy floor 78%

Sensitivity live

Price	-10% $267	-5% $238	+0% $210	+5% $182	+10% $153
Rent	-10% $113	-5% $162	+0% $210	+5% $258	+10% $307
Rate	-1.0pp $260	-0.5pp $235	base $210	+0.5pp $184	+1.0pp $158

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2317 Grand Ave Granite City, IL	2.0	1.0	1124	$750	$0.67	8d	1	0.11mi
2450 Cleveland Blvd Apt A Granite City, IL	2.0	1.0	846	$825	$0.98	19d	1	0.22mi
2556 Center St Granite City, IL	3.0	1.0	874	$1,500	$1.72	16d	1	0.47mi
2415 Jerden Ave Granite City, IL	3.0	1.0	970	$1,400	$1.44	5d	1	0.61mi
2715 Center St Unit B Granite City, IL	2.0	1.0	930	$1,275	$1.37	45d	1	0.75mi
303 Wilson Park Ln Granite City, IL	3.0	1.0	900	$1,200	$1.33	8d	1	1.24mi

Listing history 11 events

1. 2026-05-02
   status Pending 569-char remark
2. 2026-04-27
   listed $99,900 Active 569-char remark
3. 2022-10-19
   soldstatus $76,833
4. 2022-10-18
   soldstatus Closed 529-char remark

   Show marketing remark (529 chars)

   This home is a two bedroom, but also has a large room with a closet that can be used as a spare bedroom, office or family room. Many updates, including paint, lighting and some carpet. The front enclosed porch makes a great addition to enjoy your morning coffee and watch the sun rise. A generously sized pantry off the kitchen includes built ins and the full basement allows for extra storage. In the backyard, you will find a fully fenced yard and a detached garage. Home has passed city occupancy and is ready to move-in.

5. 2022-10-15
   status Pending 529-char remark

   Show marketing remark (529 chars)

   This home is a two bedroom, but also has a large room with a closet that can be used as a spare bedroom, office or family room. Many updates, including paint, lighting and some carpet. The front enclosed porch makes a great addition to enjoy your morning coffee and watch the sun rise. A generously sized pantry off the kitchen includes built ins and the full basement allows for extra storage. In the backyard, you will find a fully fenced yard and a detached garage. Home has passed city occupancy and is ready to move-in.

6. 2022-09-17
   historical Active Under Contract 529-char remark

   Show marketing remark (529 chars)

   This home is a two bedroom, but also has a large room with a closet that can be used as a spare bedroom, office or family room. Many updates, including paint, lighting and some carpet. The front enclosed porch makes a great addition to enjoy your morning coffee and watch the sun rise. A generously sized pantry off the kitchen includes built ins and the full basement allows for extra storage. In the backyard, you will find a fully fenced yard and a detached garage. Home has passed city occupancy and is ready to move-in.

7. 2022-08-27
   listed $74,900 Active 529-char remark

   Show marketing remark (529 chars)

   This home is a two bedroom, but also has a large room with a closet that can be used as a spare bedroom, office or family room. Many updates, including paint, lighting and some carpet. The front enclosed porch makes a great addition to enjoy your morning coffee and watch the sun rise. A generously sized pantry off the kitchen includes built ins and the full basement allows for extra storage. In the backyard, you will find a fully fenced yard and a detached garage. Home has passed city occupancy and is ready to move-in.

8. 2022-08-20
   historical $74,900 529-char remark

   Show marketing remark (529 chars)

   This home is a two bedroom, but also has a large room with a closet that can be used as a spare bedroom, office or family room. Many updates, including paint, lighting and some carpet. The front enclosed porch makes a great addition to enjoy your morning coffee and watch the sun rise. A generously sized pantry off the kitchen includes built ins and the full basement allows for extra storage. In the backyard, you will find a fully fenced yard and a detached garage. Home has passed city occupancy and is ready to move-in.

9. 2017-10-02
   historical
10. 2017-07-05
    price $57,500
11. 2008-10-23
    soldstatus $44,500

ⓘ 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: $2,310 · $193/mo
• Projected year-2 tax: $2,310 · $193/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 ≥108°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 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,704
• − Mortgage interest: −$5,596
• − Property taxes: −$2,310
• − Insurance: −$500
• − Repairs & maintenance: −$1,176
• − Management: −$1,176
• − Depreciation: −$2,906
• Taxable income: $1,039
• Est. tax owed @ 24.0%: −$249
• After-tax cash flow: $2,270/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: Granite City CUSD 9
• NCES district ID: 1717280
• Math proficiency: 9% ▼ -4.00%
• Reading proficiency: 11% ▼ -7.00%
• Median HH income: $45,082
• Composite: 9.15/100
• National rank: #9864
• State rank: #570 of 620 in IL

Livability — Granite City

• Score: 65/100
• State rank: #623
• US rank: #12751

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Granite City, IL
• County: Madison County · 189,064 people
• City population: 40,404
• Metro: St. Louis, MO-IL
• Population (ZIP): 40,404
• Household income: $60,031
• Rent vs Own: 25.0% rent · 75.0% own
• Severe rent burden: 923.0

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 (76%)
• Race & ethnicity: White 76% Hispanic / Latino 9% Black 9% Two or more races 7% Asian 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Romanian 2% Lithuanian 2% Serbian 2%
• Foreign-born: 3% · Canada, Vietnam
• Languages at home: 93% English-only · Spanish 5%

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: ▼ -56.88%
• Current HPI: 204.4612
• Rent YoY: ▲ 1.67%
• 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

+124.5% since first listed

12 events — show timeline

• 2026-06-05 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2026-05-02 Pending — MARIS as Distributed by MLS Grid
• 2026-04-27 Listed $99,900 MARIS as Distributed by MLS Grid
• 2022-10-19 Sold (Public Records) $76,833 Public Records
• 2022-10-18 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2022-10-15 Pending — MARIS as Distributed by MLS Grid
• 2022-09-17 Contingent — MARIS as Distributed by MLS Grid
• 2022-08-27 Listed $74,900 MARIS as Distributed by MLS Grid
• 2022-08-20 Coming Soon $74,900 MARIS as Distributed by MLS Grid
• 2017-10-02 Listing Removed — MRED as Distributed by MLS Grid
• 2017-07-05 Price Changed $57,500 MARIS as Distributed by MLS Grid
• 2008-10-23 Sold (Public Records) $44,500 Public Records

Property tax history

+6.1%/yr

Latest (2024): $2,310 · +1.6% YoY. Source: county tax records.