226 E Penning Ave · Wood River, IL 62095

$189,000

5 bd · 1.0 ba · 1,540 sqft · SingleFamily public records · 2 Days on market

Built 1920 5,998 sqft lot Est $131k · 44% over

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Why this score? — see what drove the D- 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 +16.7/30.0
• DSCR +5.2/10.0
• 1% rule +4.4/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Come take a look at all of the possibilities this home has to offer!! It features 3 bedrooms, 1.5 bathrooms, main level laundry, open dining/kitchen area, deck, fenced yard and a full basement. With a little bit of love this house will make someone a great home!! Don't miss this opportunity to make it your own. Schedule your appointment today.

Key facts

• 5,998 sq ft lot
• 2 garage spots
• Built 1920

Property features AI

Finance

• Financial info: Lease not considered; Home warranty available; Seller may consider concessions

Exterior

• Parking: Detached garage; Two garage spaces; Driveway, gravel and off-street parking (total parking for 6 vehicles)
• Utilities: Public water; Public sewer; Electric service from Ameren; Cable available, phone available, electricity connected, sewer connected, water connected
• Home design: Single-family residence; Updated/remodeled condition; Two levels; Private ownership
• Construction: Vinyl siding; Architectural shingle roof; Block foundation; House structure; Built area above grade from assessor
• Exterior features: Covered front and rear porches; Wood privacy fencing in the backyard; Level lot

Interior

• Kitchen: Dishwasher; Microwave; Free-standing electric range
• Bedrooms: Three bedrooms total (one on the main level, two on the upper level)
• Bathrooms: Two full bathrooms (one on the main level, one on the upper level)
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: High ceilings; Kitchen island; Walk-in closets; Block basement
• Laundry & utility: Main level laundry

What this means for you Summary

Snapshot

• This is a 5-bed/1.0-bath single-family listed at $189k.

Deal economics

• At list price, monthly cash flow is $116 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $177k (6.5% below list).
• Recommended offer: $177k (6.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 75/100 on livability (#214 in IL, #4,027 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B; Watch: amenities C-, commute D+, employment D+.
• East Alton-Wood River Chsd 14 (suburban): math 10% / reading 20% proficiency, ranked #793 of 919 in IL (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Lewis-Clark Elem School (math 22% / reading 22%, grade F, #940 of 2,056 statewide, top 49%, 231 students, 0% FRL); Lewis-Clark Jr High School (math 8% / reading 17%, grade F, #550 of 665 statewide, top 84%, 195 students, 0% FRL); East Alton-Wood River High Sch (math 8% / reading 12%, grade F, #567 of 693 statewide, top 83%, 537 students, 0% FRL).
• Market conditions: 34 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 336 units permitted in Madison County in 2024 (0 in 5+ unit buildings).
• This rent runs 33% of the median local income ($65k/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 $1k of loan paydown is wiped out by about $6k 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 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 10y 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 $99k; list at $189k implies a 91% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $176,747 (6.5% below list)

Questions for the listing agent

1. Built in 1920 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.94% ✗
• Cap rate: 7.03%
• Cash-on-cash: 2.63%
• DSCR: 1.12
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $130,900
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
135 E Acton Ave	0.10mi	5/2.0	1,560 (+1%)	18mo	$125,000	$80	74
449 N 2nd St	0.16mi	4/2.0 (-1)	1,500 (-3%)	15mo	$180,000	$120	67
319 N 2nd St	0.07mi	4/2.0 (-1)	1,672 (+9%)	12mo	$39,900	$24	64
344 E Acton Ave	0.14mi	4/2.0 (-1)	1,677 (+9%)	14mo	$126,000	$75	58
523 N 6th St	0.41mi	4/1.0 (-1)	1,736 (+13%)	2mo	$169,900	$98	53
317 N 2nd St	0.06mi	4/2.0 (-1)	1,344 (-13%)	20mo	$114,900	$85	50

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -12.1%
• Equity multiple: 0.56×
• Total profit: $-23,229
• Equity at exit: $28,181

10-year hold

• IRR: -3.0%
• Equity multiple: 0.80×
• Total profit: $-10,673
• Equity at exit: $16,341

Cash invested: $52,920 (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 62095

• Home prices YoY: -22.9%
• Active inventory: 34
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,767 medium
• Mortgage (P&I): −$991
• Tax from tax record: −$210 /mo · $2,525/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$371
• Net cashflow: $116

Break-even live

Break-even rent $1,621

Max offer price $189,000

Occupancy floor 88%

Sensitivity live

Price	-10% $223	-5% $169	+0% $116	+5% $62	+10% $9
Rent	-10% $-24	-5% $46	+0% $116	+5% $186	+10% $256
Rate	-1.0pp $211	-0.5pp $164	base $116	+0.5pp $67	+1.0pp $17

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
135 E Acton Ave Wood River, IL	4.0	2.0	1560	$1,750	$1.12	45d	1	0.09mi
1400 Brushey Grove Ave Wood River, IL	4.0	1.5	1050	$1,600	$1.52	0d	1	1.04mi

Listing history 10 events

1. 2026-05-15
   status Pending
2. 2026-05-14
   listed $189,000 Active
3. 2026-05-11
   historical $189,000
4. 2017-05-30
   soldstatus Closed 345-char remark

   Show marketing remark (345 chars)

   Come take a look at all of the possibilities this home has to offer!! It features 3 bedrooms, 1.5 bathrooms, main level laundry, open dining/kitchen area, deck, fenced yard and a full basement. With a little bit of love this house will make someone a great home!! Don't miss this opportunity to make it your own. Schedule your appointment today.

5. 2017-05-12
   status Pending 345-char remark

   Show marketing remark (345 chars)

   Come take a look at all of the possibilities this home has to offer!! It features 3 bedrooms, 1.5 bathrooms, main level laundry, open dining/kitchen area, deck, fenced yard and a full basement. With a little bit of love this house will make someone a great home!! Don't miss this opportunity to make it your own. Schedule your appointment today.

6. 2017-04-28
   listed $42,000 Active 345-char remark

   Show marketing remark (345 chars)

   Come take a look at all of the possibilities this home has to offer!! It features 3 bedrooms, 1.5 bathrooms, main level laundry, open dining/kitchen area, deck, fenced yard and a full basement. With a little bit of love this house will make someone a great home!! Don't miss this opportunity to make it your own. Schedule your appointment today.

7. 2016-12-22
   historical
8. 2016-08-25
   price $72,900
9. 2016-06-21
   listed $74,900 Active
10. 2006-08-30
    soldstatus $99,000

ⓘ 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: $2,525 · $210/mo
• Projected year-2 tax: $3,408 · $284/mo
• Expected delta: +$882/yr (+$74/mo · 34.9%)

ⓘ 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 6/10 Major 7 d/yr ≥107°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,210
• − Mortgage interest: −$10,587
• − Property taxes: −$2,525
• − Insurance: −$945
• − Repairs & maintenance: −$1,697
• − Management: −$1,697
• − Depreciation: −$5,498
• Taxable loss: −$1,739
• Est. tax savings @ 24.0%: +$417
• After-tax cash flow: $1,809/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: East Alton-Wood River Chsd 14
• NCES district ID: 1712990
• Math proficiency: 10% ▬ 0.00%
• Reading proficiency: 20% ▬ 0.00%
• Median HH income: $35,977
• Composite: 15.86/100
• National rank: #14315
• State rank: #793 of 919 in IL

Livability — Wood River

• Score: 75/100
• State rank: #214
• US rank: #4027

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wood River, IL
• County: Madison County · 189,064 people
• City population: 10,726
• Metro: St. Louis, MO-IL
• Population (ZIP): 10,726
• Household income: $65,013
• Rent vs Own: 32.2% rent · 67.8% own
• Severe rent burden: 383.0

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 (87%)
• Race & ethnicity: White 87% Black 6% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Lithuanian 2% Romanian 2% Iranian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -64.69%
• Current HPI: 217.1264
• Rent YoY: —
• 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

+90.9% since first listed

10 events — show timeline

• 2026-05-15 Pending — MARIS as Distributed by MLS Grid
• 2026-05-14 Listed $189,000 MARIS as Distributed by MLS Grid
• 2026-05-11 Coming Soon $189,000 MARIS as Distributed by MLS Grid
• 2017-05-30 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2017-05-12 Pending — MARIS as Distributed by MLS Grid
• 2017-04-28 Listed $42,000 MARIS as Distributed by MLS Grid
• 2016-12-22 Delisted — MARIS as Distributed by MLS Grid
• 2016-08-25 Price Changed $72,900 MARIS as Distributed by MLS Grid
• 2016-06-21 Listed $74,900 MARIS as Distributed by MLS Grid
• 2006-08-30 Sold (Public Records) $99,000 Public Records

Property tax history

+6.6%/yr

Latest (2024): $2,525 · +7.1% YoY. Source: county tax records.