3723 Franor St · Alton, IL 62002

$60,000

2 bd · 1.0 ba · 774 sqft · SingleFamily public records · 18 Days on market

Built 1945 0.48 ac lot Est $92k · 35% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Don’t miss this opportunity to own a home in the desirable Milton area. Whether you’re looking to expand your investment portfolio, downsize or purchase an affordable starter home, this property offers tremendous potential. Situated on a large lot, the spacious yard provides plenty of room for outdoor entertaining, recreation, or future improvements. Inside, the home presents an excellent opportunity for updates, renovations, and customization to make it your own. With great possibilities and room to add value, this is a property you won’t want to overlook. Schedule your private showing today! Property being sold as-is, seller to make no repairs.

Key facts

• Spacious yard
• Outdoor entertaining
• Updates

Tags

• LARGE LOT
• SPACIOUS YARD
• OUTDOOR ENTERTAINING
• UPDATES
• RENOVATIONS

Property features AI

Exterior

• Utilities: Public water; Public sewer; Electricity connected
• Home design: Single-family residence; One story
• Construction: Vinyl siding
• Exterior features: Covered front and rear porches; Back yard with a few trees

Interior

• Kitchen: Kitchen on main level
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Full, unfinished basement; 5 total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $396 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $59k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.2% 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; 13 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 $415 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 $17k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $25k; list at $60k implies a 140% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1945 — 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 $59,100 (1.5% below list)

Questions for the listing agent

1. Built in 1945 — 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: 1.70% ✓
• Cap rate: 14.22%
• Cash-on-cash: 28.30%
• DSCR: 2.26
• GRM: 4.9

CMA / ARV

• ARV (on-the-fly): $92,106
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3708 Coronado Dr	0.09mi	2/1.0	755 (-2%)	6mo	$110,000	$146	87
3619 Thomas Ave	0.33mi	2/1.0	800 (+3%)	3mo	$94,900	$119	76
3512 Wickenhauser Ave	0.38mi	2/1.0	791 (+2%)	5mo	$105,000	$133	74
3410 Fullerton Ave	0.66mi	2/1.0	787 (+2%)	0mo	$92,500	$118	66
504 Goodfellow Ave	0.47mi	2/1.0	740 (-4%)	9mo	$58,000	$78	64
3422 Thomas Ave	0.51mi	2/1.0	800 (+3%)	8mo	$95,000	$119	64
3404 Oak Dr	0.57mi	2/1.0	728 (-6%)	0mo	$122,900	$169	63
613 Leonard St	0.50mi	1/1.0 (-1)	730 (-6%)	4mo	$48,500	$66	59
3502 Oscar Ave	0.37mi	2/1.0	672 (-13%)	2mo	$105,000	$156	59
3311 Sherman St	0.69mi	2/1.0	710 (-8%)	2mo	$75,000	$106	52
809 Maurice St	0.54mi	2/1.0	886 (+14%)	4mo	$55,000	$62	48
210 Wisconsin Ave	0.46mi	2/2.0	880 (+14%)	8mo	$154,900	$176	45

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: 28.1%
• Equity multiple: 2.25×
• Total profit: $20,929
• Equity at exit: $8,946

10-year hold

• IRR: 38.4%
• Equity multiple: 5.49×
• Total profit: $75,353
• Equity at exit: $5,188

Cash invested: $16,800 (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: 4.9×

Monthly cashflow live

• Estimated rent: $1,022 high
• Mortgage (P&I): −$315
• Tax from tax record: −$71 /mo · $856/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$215
• Net cashflow: $396

Break-even live

Break-even rent $520

Max offer price $60,000

Occupancy floor 56%

Sensitivity live

Price	-10% $430	-5% $413	+0% $396	+5% $379	+10% $362
Rent	-10% $316	-5% $356	+0% $396	+5% $437	+10% $477
Rate	-1.0pp $426	-0.5pp $412	base $396	+0.5pp $381	+1.0pp $365

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 13 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	0.44mi
3305 Franor St Alton, IL	2.0	1.0	1000	$549	$0.55	2d	1	0.57mi
140 Illinois St East Alton, IL	2.0	1.0	960	$695	$0.72	2d	1	0.76mi
1408 Willard St Alton, IL	1.0	1.0	568	$750	$1.32	44d	1	0.80mi
3303 Jackson St Alton, IL	2.0	1.0	1050	$1,295	$1.23	44d	1	0.83mi
806 Center St East Alton, IL	1.0	1.0	620	$675	$1.09	2d	1	1.04mi
123 Irwin St East Alton, IL	2.0	1.0	792	$1,225	$1.55	5d	1	1.33mi
120 Lakeside Ave East Alton, IL	2.0	1.0	700	$850	$1.21	11d	1	1.34mi
134 Lakeside Ave East Alton, IL	2.0	1.0	800	$775	$0.97	11d	1	1.34mi
176 S Pence St East Alton, IL	2.0	1.0	1000	$1,100	$1.10	2d	1	1.36mi
2418 Sanford Ave Alton, IL	2.0	1.0	958	$875	$0.91	21d	1	1.36mi
306 Lampert St Alton, IL	2.0	1.0	925	$1,000	$1.08	2d	1	1.41mi
121 Cardot St East Alton, IL	3.0	1.0	937	$1,200	$1.28	22d	1	1.42mi

Listing history 11 events

1. 2026-06-21
   days on market $60,000 Active 18 DOM
2. 2026-06-18
   days on market $60,000 Active 15 DOM
3. 2026-06-17
   days on market $60,000 Active 14 DOM
4. 2026-06-16
   days on market $60,000 Active 13 DOM
5. 2026-06-15
   days on market $60,000 Active 12 DOM
6. 2026-06-13
   days on market $60,000 Active 10 DOM
7. 2026-06-09
   days on market $60,000 Active 6 DOM
8. 2026-06-08
   days on market $60,000 Active 5 DOM
9. 2026-06-07
   days on market $60,000 Active 4 DOM
10. 2026-06-03
    remarks 654-char remark
11. 2026-06-03
    listed $60,000 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: $856 · $71/mo
• Projected year-2 tax: $1,109 · $92/mo
• Expected delta: +$253/yr (+$21/mo · 29.6%)

ⓘ 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: $12,262
• − Mortgage interest: −$3,361
• − Property taxes: −$856
• − Insurance: −$300
• − Repairs & maintenance: −$981
• − Management: −$981
• − Depreciation: −$1,745
• Taxable income: $4,038
• Est. tax owed @ 24.0%: −$969
• After-tax cash flow: $3,786/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

+140.0% since first listed

5 events — show timeline

• 2026-06-03 Listed $60,000 MARIS as Distributed by MLS Grid
• 2025-10-28 Price Changed $69,000 MARIS as Distributed by MLS Grid
• 2025-07-01 Listed $75,000 MARIS as Distributed by MLS Grid
• 1997-12-10 Sold (Public Records) $25,000 Public Records
• 1994-03-18 Sold (Public Records) $25,000 Public Records

Property tax history

+2.3%/yr

Latest (2024): $856 · +6.4% YoY. Source: county tax records.