2801 Brown St · Alton, IL 62002

$55,000

5 bd · 1.5 ba · 2,100 sqft · SingleFamily · 89 Days on market

Built 1930 0.28 ac lot ↓ 37% 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
• Rent growth +4.6/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks

Are you looking for a home to renovate with a lot of charm, space & an open floorplan in the booming City of Alton? This beauty has its original pocket doors, tall ceilings, hardwood floors & wood door casing! This gem was converted into and used as a doctor's office most recently but is also zoned as a single-family residence. There is a wall currently dividing the Living & Dining Rooms, but it was just created to partition the waiting room from the reception area of the doctor's office & could easily be removed as it's not load-bearing. The Dining Room once featured a Bay Window that could easily be brought back to life by adding the middle window and re-working so

Key facts

• Tall ceilings
• Butler's pantry
• Wood door casing

Tags

• ORIGINAL POCKET DOORS
• TALL CEILINGS
• HARDWOOD FLOORS
• WOOD DOOR CASING
• BUTLER'S PANTRY
• UNFINISHED ATTIC

What this means for you Summary

Snapshot

• This is a 5-bed/1.5-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $989 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $55k).
• Recommended offer: $52k (6.0% below list) — sets the bar for market timing.
• Cap rate 27.9% vs local median 6.4% in Alton — 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 64/100 on livability (#701 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: health & safety C-, crime F, amenities D-.
• Alton CUSD 11 (suburban): math 12% / reading 13% proficiency, ranked #544 of 620 in IL (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Alton High School (math 20% / reading 25%, grade F, #317 of 693 statewide, top 46%, 1,990 students, 0% FRL) — zoned schools average 0% FRL vs 60% district-wide (60 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising fast (+8.2%/yr); 169 active listings in the ZIP; 336 units permitted in Madison County in 2024 (0 in 5+ unit buildings).
• This rent runs 34% of the median local income ($61k/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 $380 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 + 8.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 89 days — a 6% lower offer ($52k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y 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.

Risks & watch-outs

• Watch-outs: built in 1930 — 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 $51,700 (6.0% below list)

Questions for the listing agent

1. It's been on market 89 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — 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. 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?
6. 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?
7. 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.
8. 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.
9. 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: 3.15% ✓
• Cap rate: 27.87%
• Cash-on-cash: 77.07%
• DSCR: 4.43
• GRM: 2.6

CMA / ARV

• ARV (on-the-fly): $191,100
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2801 Brown St	0.00mi	5/1.5	2,100 (0%)	1mo	$55,000	$26	99
1320 Washington Ave	0.27mi	4/2.0 (-1)	2,023 (-4%)	1mo	$214,000	$106	73
2701 Watalee St	0.29mi	4/1.5 (-1)	2,322 (+11%)	3mo	$165,000	$71	61
1854 Evergreen	0.44mi	4/2.0 (-1)	2,092 (-0%)	17mo	$190,000	$91	58
1106 Washington Ave	0.36mi	4/2.5 (-1)	2,312 (+10%)	4mo	$209,900	$91	54
1201 Milton Rd	0.72mi	4/2.0 (-1)	2,026 (-4%)	4mo	$169,900	$84	50
2025 Park Ave	0.60mi	4/1.5 (-1)	1,974 (-6%)	23mo	$219,900	$111	38
863 Washington Ave	0.63mi	5/3.0	2,400 (+14%)	10mo	$179,900	$75	32

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 82.7%
• Equity multiple: 5.11×
• Total profit: $63,266
• Equity at exit: $8,201

10-year hold

• IRR: 87.2%
• Equity multiple: 12.56×
• Total profit: $177,998
• Equity at exit: $4,755

Cash invested: $15,400 (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 62002

• Home prices YoY: -33.6%
• Rents YoY: 8.2%
• Active inventory: 169
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $1,733 medium
• Mortgage (P&I): −$288
• Tax est. 1.5%: −$69 /mo · $825/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$364
• Net cashflow: $989

Break-even live

Break-even rent $481

Max offer price $55,000

Occupancy floor 38%

Sensitivity live

Price	-10% $1,027	-5% $1,008	+0% $989	+5% $970	+10% $951
Rent	-10% $852	-5% $921	+0% $989	+5% $1,058	+10% $1,126
Rate	-1.0pp $1,017	-0.5pp $1,003	base $989	+0.5pp $975	+1.0pp $960

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-04-21
   status Pending
2. 2026-01-21
   listed $55,000 Active
3. 2025-07-18
   listed $60,000 Active
4. 2025-03-09
   status Active
5. 2025-03-09
   price $52,900
6. 2025-03-04
   status Pending
7. 2025-01-08
   status Active
8. 2025-01-08
   price $69,900
9. 2024-10-18
   price $71,900
10. 2024-08-28
    price $74,900
11. 2024-08-12
    listed $87,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥106°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: $20,797
• − Mortgage interest: −$3,081
• − Property taxes: −$825
• − Insurance: −$275
• − Repairs & maintenance: −$1,664
• − Management: −$1,664
• − Depreciation: −$1,600
• Taxable income: $11,689
• Est. tax owed @ 24.0%: −$2,805
• After-tax cash flow: $9,063/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: Alton CUSD 11
• NCES district ID: 1703600
• Math proficiency: 12% ▼ -10.00%
• Reading proficiency: 13% ▼ -10.00%
• Median HH income: $46,257
• Composite: 11.34/100
• National rank: #9710
• State rank: #544 of 620 in IL

Livability — Alton

• Score: 64/100
• State rank: #701
• US rank: #14289

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Alton, IL
• County: Madison County · 189,064 people
• City population: 29,543
• Metro: St. Louis, MO-IL
• Population (ZIP): 29,543
• Household income: $61,414
• Rent vs Own: 34.3% rent · 65.7% own
• Severe rent burden: 960.0

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 (71%)
• Race & ethnicity: White 71% Black 20% Two or more races 6% Hispanic / Latino 2% Asian 1%
• Common ancestry: Romanian 2% Lithuanian 2% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Indo-European 1%

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: ▼ -98.43%
• Current HPI: 194.7313
• Rent YoY: ▲ 8.24%
• 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

-37.4% since first listed

11 events — show timeline

• 2026-04-21 Pending — MARIS as Distributed by MLS Grid
• 2026-01-21 Listed $55,000 MARIS as Distributed by MLS Grid
• 2025-07-18 Listed $60,000 MARIS as Distributed by MLS Grid
• 2025-03-09 Relisted — MARIS as Distributed by MLS Grid
• 2025-03-09 Price Changed $52,900 MARIS as Distributed by MLS Grid
• 2025-03-04 Pending — MARIS as Distributed by MLS Grid
• 2025-01-08 Relisted — MARIS as Distributed by MLS Grid
• 2025-01-08 Price Changed $69,900 MARIS as Distributed by MLS Grid
• 2024-10-18 Price Changed $71,900 MARIS as Distributed by MLS Grid
• 2024-08-28 Price Changed $74,900 MARIS as Distributed by MLS Grid
• 2024-08-12 Listed $87,900 MARIS as Distributed by MLS Grid

Property tax history

+2.3%/yr

Latest (2024): $2,813 · +6.4% YoY. Source: county tax records.