3019 Forest Dr · Alton, IL 62002

$115,000

2 bd · 1.0 ba · 1,132 sqft · SingleFamily public records · 80 Days on market

Built 1950 6,359 sqft lot $102/sqft · 22% above area Est $126k · 9% under

---

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 +12.5/30.0
• ARV discount +11.4/15.0
• Rent growth +4.6/5.0
• 1% rule +3.8/10.0
• DSCR +3.7/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

GREAT OPPORTUNITY FOR INVESTORS OR HOME BUYERS LOOKING FOR A VALUE-ADD PROPERTY!! A charming cottage-style home in a solid Alton location, offering more space than it appears from the street. Features include a one-car garage and a fully fenced yard with a privacy fence. The attic was refinished to create a functional primary suite with a true walk-in closet. Original hardwood floors run throughout and are ready to be brought back to life. This home offers amazing potential for a homebuyer or investor looking to add personal touches and cosmetic updates. Seller is motivated. Property is being sold as-is. Schedule a showing and explore the possibilities this home has to offer!

Key facts

• 6,359 sq ft lot
• Garage
• Built 1950

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $-17 ($-207/yr) — negative.
• To cash-flow at today's rent, offer at most $112k (2.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $101k (12.0% below list).
• Recommended offer: $101k (12.0% below list) — sets the bar for 1% rule.

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-, schools F, crime F.
• 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.
• Market conditions: Rents rising fast (+8.2%/yr); 169 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 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 $795 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

• It's been on market 80 days — a 6% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 14y 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 1950 — 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 $101,240 (12.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.88% ✗
• Cap rate: 6.11%
• Cash-on-cash: -0.64%
• DSCR: 0.97
• GRM: 9.5

CMA / ARV

• ARV (median comp): $125,971
• List price: $115,000
• Delta: -8.71%
• 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
602 Sheppard St	0.29mi	2/1.0	1,172 (+4%)	2mo	$30,000	$26	79
206 Longfellow Ave	0.10mi	3/2.0 (+1)	1,092 (-4%)	4mo	$184,900	$169	77
2975 Shady Pl	0.07mi	2/1.0	1,240 (+10%)	5mo	$123,456	$100	77
241 Arbor Dr	0.03mi	2/1.0	996 (-12%)	4mo	$92,000	$92	75
3619 Horn Ave	0.47mi	2/1.0	1,170 (+3%)	5mo	$125,000	$107	69
3528 Oscar Ave	0.51mi	2/1.0	1,190 (+5%)	2mo	$149,900	$126	66
2617 Plainview Ter	0.62mi	3/1.5 (+1)	1,134 (+0%)	1mo	$120,000	$106	63
3410 Bolivar St	0.42mi	3/2.0 (+1)	1,100 (-3%)	7mo	$145,000	$132	61
3305 Fernwood Ave	0.62mi	3/1.0 (+1)	1,196 (+6%)	2mo	$109,000	$91	55
2933 Forest Dr	0.11mi	3/3.0 (+1)	1,300 (+15%)	7mo	$169,999	$131	51
223 Michigan Ave	0.60mi	3/2.0 (+1)	1,077 (-5%)	5mo	$167,500	$156	51
3627 Horn Ave	0.50mi	2/1.0	1,267 (+12%)	7mo	$116,000	$92	51

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: -11.7%
• Equity multiple: 0.55×
• Total profit: $-14,353
• Equity at exit: $17,147

10-year hold

• IRR: 3.7%
• Equity multiple: 1.33×
• Total profit: $10,557
• Equity at exit: $9,943

Cash invested: $32,200 (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 62002

• Home prices YoY: -33.6%
• Rents YoY: 8.2%
• Active inventory: 169
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,012 high
• Mortgage (P&I): −$603
• Tax from tax record: −$166 /mo · $1,992/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$213
• Net cashflow: $-17

Break-even live

Break-even rent $1,034

Max offer price $111,956

Occupancy floor 97%

Sensitivity live

Price	-10% $48	-5% $15	+0% $-17	+5% $-50	+10% $-82
Rent	-10% $-97	-5% $-57	+0% $-17	+5% $23	+10% $63
Rate	-1.0pp $41	-0.5pp $12	base $-17	+0.5pp $-47	+1.0pp $-77

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3400 Milton Dr Alton, IL	2.0	1.5	972	$1,350	$1.39	5d	1	0.29mi
602 Sheppard St Alton, IL	2.0	1.0	1172	$875	$0.75	21d	1	0.31mi
3305 Franor St Alton, IL	2.0	1.0	1000	$549	$0.55	2d	1	0.46mi
306 Lampert St Alton, IL	2.0	1.0	925	$1,000	$1.08	2d	1	0.82mi
140 Illinois St East Alton, IL	2.0	1.0	960	$695	$0.72	2d	1	0.88mi
2418 Sanford Ave Alton, IL	2.0	1.0	958	$875	$0.91	21d	1	0.91mi
3303 Jackson St Alton, IL	2.0	1.0	1050	$1,295	$1.23	44d	1	1.06mi
123 Irwin St East Alton, IL	2.0	1.0	792	$1,225	$1.55	5d	1	1.23mi
176 S Pence St East Alton, IL	2.0	1.0	1000	$1,100	$1.10	2d	1	1.46mi

Listing history 32 events

1. 2026-06-21
   days on market $115,000 Active 80 DOM
2. 2026-06-18
   days on market $115,000 Active 77 DOM
3. 2026-06-17
   days on market $115,000 Active 76 DOM
4. 2026-06-16
   days on market $115,000 Active 75 DOM
5. 2026-06-15
   days on market $115,000 Active 74 DOM
6. 2026-06-13
   days on market $115,000 Active 72 DOM
7. 2026-06-09
   days on market $115,000 Active 68 DOM
8. 2026-06-08
   days on market $115,000 Active 67 DOM
9. 2026-06-07
   days on market $115,000 Active 66 DOM
10. 2026-06-03
    days on market $115,000 Active 62 DOM
11. 2026-06-02
    days on market $115,000 Active 61 DOM
12. 2026-06-01
    days on market $115,000 Active 60 DOM
13. 2026-05-31
    days on market $115,000 Active 59 DOM
14. 2026-05-04
    status Active 684-char remark

    Show marketing remark (684 chars)

    GREAT OPPORTUNITY FOR INVESTORS OR HOME BUYERS LOOKING FOR A VALUE-ADD PROPERTY!! A charming cottage-style home in a solid Alton location, offering more space than it appears from the street. Features include a one-car garage and a fully fenced yard with a privacy fence. The attic was refinished to create a functional primary suite with a true walk-in closet. Original hardwood floors run throughout and are ready to be brought back to life. This home offers amazing potential for a homebuyer or investor looking to add personal touches and cosmetic updates. Seller is motivated. Property is being sold as-is. Schedule a showing and explore the possibilities this home has to offer!

15. 2026-03-26
    status Pending 684-char remark

    Show marketing remark (684 chars)

    GREAT OPPORTUNITY FOR INVESTORS OR HOME BUYERS LOOKING FOR A VALUE-ADD PROPERTY!! A charming cottage-style home in a solid Alton location, offering more space than it appears from the street. Features include a one-car garage and a fully fenced yard with a privacy fence. The attic was refinished to create a functional primary suite with a true walk-in closet. Original hardwood floors run throughout and are ready to be brought back to life. This home offers amazing potential for a homebuyer or investor looking to add personal touches and cosmetic updates. Seller is motivated. Property is being sold as-is. Schedule a showing and explore the possibilities this home has to offer!

16. 2026-03-09
    status Active 684-char remark

    Show marketing remark (684 chars)

    GREAT OPPORTUNITY FOR INVESTORS OR HOME BUYERS LOOKING FOR A VALUE-ADD PROPERTY!! A charming cottage-style home in a solid Alton location, offering more space than it appears from the street. Features include a one-car garage and a fully fenced yard with a privacy fence. The attic was refinished to create a functional primary suite with a true walk-in closet. Original hardwood floors run throughout and are ready to be brought back to life. This home offers amazing potential for a homebuyer or investor looking to add personal touches and cosmetic updates. Seller is motivated. Property is being sold as-is. Schedule a showing and explore the possibilities this home has to offer!

17. 2026-01-23
    listed $115,000 Active 684-char remark

    Show marketing remark (684 chars)

    GREAT OPPORTUNITY FOR INVESTORS OR HOME BUYERS LOOKING FOR A VALUE-ADD PROPERTY!! A charming cottage-style home in a solid Alton location, offering more space than it appears from the street. Features include a one-car garage and a fully fenced yard with a privacy fence. The attic was refinished to create a functional primary suite with a true walk-in closet. Original hardwood floors run throughout and are ready to be brought back to life. This home offers amazing potential for a homebuyer or investor looking to add personal touches and cosmetic updates. Seller is motivated. Property is being sold as-is. Schedule a showing and explore the possibilities this home has to offer!

18. 2026-01-09
    historical $115,000 684-char remark

    Show marketing remark (684 chars)

    GREAT OPPORTUNITY FOR INVESTORS OR HOME BUYERS LOOKING FOR A VALUE-ADD PROPERTY!! A charming cottage-style home in a solid Alton location, offering more space than it appears from the street. Features include a one-car garage and a fully fenced yard with a privacy fence. The attic was refinished to create a functional primary suite with a true walk-in closet. Original hardwood floors run throughout and are ready to be brought back to life. This home offers amazing potential for a homebuyer or investor looking to add personal touches and cosmetic updates. Seller is motivated. Property is being sold as-is. Schedule a showing and explore the possibilities this home has to offer!

19. 2025-11-09
    listed $100,000 Active 331-char remark

    Show marketing remark (331 chars)

    Absolutely adorable home! Move right in to this 3 bedroom, 1 bath home that features a spacious living room and family room on the main level, a master suite on the 2nd level with a spacious walk in closet, a/c unit, updated windows, full basement, fenced backyard, 1 car detached garage. Appliances are negotiable with the offer.

20. 2020-12-01
    soldstatus $108,000
21. 2020-11-20
    soldstatus $107,900 Closed Sale
22. 2020-11-20
    soldstatus Closed
23. 2020-10-19
    status Pending
24. 2020-10-19
    status Pending
25. 2020-10-10
    price $104,900
26. 2020-10-09
    price $104,900
27. 2020-10-05
    listed $114,900 Active
28. 2020-10-05
    listed $114,900 New
29. 2013-04-03
    soldstatus $71,500
30. 2013-04-01
    soldstatus
31. 2012-03-31
    listed $72,500
32. 2005-12-13
    soldstatus $77,500

ⓘ 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: $1,992 · $166/mo
• Projected year-2 tax: $2,301 · $192/mo
• Expected delta: +$309/yr (+$26/mo · 15.5%)

ⓘ 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 ≥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: $12,149
• − Mortgage interest: −$6,442
• − Property taxes: −$1,992
• − Insurance: −$575
• − Repairs & maintenance: −$972
• − Management: −$972
• − Depreciation: −$3,345
• Taxable loss: −$2,150
• Est. tax savings @ 24.0%: +$516
• After-tax cash flow: $309/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

+48.4% since first listed

19 events — show timeline

• 2026-05-04 Relisted — MARIS as Distributed by MLS Grid
• 2026-03-26 Pending — MARIS as Distributed by MLS Grid
• 2026-03-09 Relisted — MARIS as Distributed by MLS Grid
• 2026-01-23 Listed $115,000 MARIS as Distributed by MLS Grid
• 2026-01-09 Coming Soon $115,000 MARIS as Distributed by MLS Grid
• 2025-11-09 Listed $100,000 ForSaleByOwner.com
• 2020-12-01 Sold (Public Records) $108,000 Public Records
• 2020-11-20 Sold (MLS) $107,900 MRED as Distributed by MLS Grid
• 2020-11-20 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2020-10-19 Pending — MRED as Distributed by MLS Grid
• 2020-10-19 Pending — MARIS as Distributed by MLS Grid
• 2020-10-10 Price Changed $104,900 MRED as Distributed by MLS Grid
• 2020-10-09 Price Changed $104,900 MARIS as Distributed by MLS Grid
• 2020-10-05 Listed $114,900 MARIS as Distributed by MLS Grid
• 2020-10-05 Listed $114,900 MRED as Distributed by MLS Grid
• 2013-04-03 Sold (Public Records) $71,500 Public Records
• 2013-04-01 Sold (MLS) — MARIS as Distributed by MLS Grid
• 2012-03-31 Listed $72,500 MARIS as Distributed by MLS Grid
• 2005-12-13 Sold (Public Records) $77,500 Public Records

Property tax history

+3.2%/yr

Latest (2024): $1,992 · +9.3% YoY. Source: county tax records.