2328 Orville Ave · Granite City, IL 62040

$59,000

4 bd · 1.0 ba · 1,456 sqft · SingleFamily public records · 4 Days on market

Built 1960 6,050 sqft lot

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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 +3.2/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks

Three-bedroom, one-bath home with plenty of potential! This handyman special is ready for renovation. Bring your vision and creativity to restore this property and make it your own. Sold as is.

Key facts

• 6,050 sq ft lot
• Garage
• Built 1960

Property features AI

Exterior

• Parking: Has attached garage; Has carport (1 space)
• Utilities: Public water; Public sewer; Electric service by Ameren
• Home design: Single-family residence; Two levels; Residential property
• Construction: Vinyl siding
• Exterior features: Front porch; Level lot

Interior

• Bedrooms: Three bedrooms on the main level
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Forced air heating; Cooling: other
• Interior features: Crawl space basement; Six total rooms

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $59k.

Deal economics

• At list price, monthly cash flow is $729 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $59k).
• Cap rate 21.1% vs local median 6.9% in Granite City — 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 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); 194 active listings in the ZIP; 336 units permitted in Madison County in 2024 (0 in 5+ unit buildings).
• This rent runs 31% of the median local income ($60k/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 $408 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 + 1.7% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 3.6% of price.
• 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 $59,000

Questions for the listing agent

1. Built in 1960 — 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. 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?
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: 2.66% ✓
• Cap rate: 21.12%
• Cash-on-cash: 52.96%
• DSCR: 3.36
• GRM: 3.1

CMA / ARV

• ARV (on-the-fly): $158,704
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2248 Miracle Ave	0.13mi	3/2.0 (-1)	1,392 (-4%)	3mo	$133,900	$96	75
2312 Orville Ave	0.04mi	4/2.0	1,260 (-14%)	1mo	$209,000	$166	71
2318 Waterman Ave	0.30mi	3/2.0 (-1)	1,516 (+4%)	1mo	$145,000	$96	69
2349 Orville Ave	0.08mi	3/2.0 (-1)	1,600 (+10%)	2mo	$204,950	$128	69
2592 Lynch Ave	0.58mi	3/1.0 (-1)	1,458 (+0%)	1mo	$137,500	$94	67
2609 Angela Dr	0.51mi	3/1.5 (-1)	1,408 (-3%)	4mo	$49,000	$35	61
2154 Hamilton Dr	0.23mi	3/2.0 (-1)	1,339 (-8%)	11mo	$190,000	$142	58
2424 Angela Dr	0.22mi	3/2.0 (-1)	1,296 (-11%)	7mo	$140,000	$108	56
2036 Pontoon Rd	0.56mi	3/1.0 (-1)	1,365 (-6%)	8mo	$179,900	$132	52
38 Del Rio Ave	0.64mi	3/2.0 (-1)	1,604 (+10%)	2mo	$219,000	$137	42
93 Riviera Dr	0.49mi	3/2.0 (-1)	1,656 (+14%)	5mo	$180,000	$109	41
2000 Manley Ave	0.71mi	3/2.0 (-1)	1,664 (+14%)	0mo	$50,000	$30	34

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: 49.4%
• Equity multiple: 3.11×
• Total profit: $34,893
• Equity at exit: $8,797

10-year hold

• IRR: 54.3%
• Equity multiple: 5.98×
• Total profit: $82,259
• Equity at exit: $5,101

Cash invested: $16,520 (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: 194
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,567 medium
• Mortgage (P&I): −$309
• Tax from tax record: −$175 /mo · $2,099/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$329
• Net cashflow: $729

Break-even live

Break-even rent $644

Max offer price $59,000

Occupancy floor 48%

Sensitivity live

Price	-10% $763	-5% $746	+0% $729	+5% $712	+10% $696
Rent	-10% $605	-5% $667	+0% $729	+5% $791	+10% $853
Rate	-1.0pp $759	-0.5pp $744	base $729	+0.5pp $714	+1.0pp $698

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: $14,750
• Closing costs: $1,770
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-21
   days on market $59,000 Active 4 DOM
2. 2026-06-18
   remarks 193-char remark
3. 2026-06-18
   listed $59,000 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: $2,099 · $175/mo
• Projected year-2 tax: $2,099 · $175/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 · 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: $18,805
• − Mortgage interest: −$3,305
• − Property taxes: −$2,099
• − Insurance: −$295
• − Repairs & maintenance: −$1,504
• − Management: −$1,504
• − Depreciation: −$1,716
• Taxable income: $8,381
• Est. tax owed @ 24.0%: −$2,011
• After-tax cash flow: $6,738/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

• 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

1 event — show timeline

• 2026-06-17 Listed $59,000 MARIS as Distributed by MLS Grid

Property tax history

+17.4%/yr

Latest (2024): $2,099 · +16.9% YoY. Source: county tax records.